Trader P/L 2012

[njrookie1]

losing 20K is not a big deal if you have a 1000K account. Always manage the risk first. Market can do anything it likes. One always needs to know what is the worst that can happen to one's account with the existing position.

In my view, the last few weeks were nothing unusual.

njrookie

 

[RichardRimes]

Quote from BrandNewTrader:

i lost about $20k this month. Was trading SLV, everythng was going great, then I got greedy. Tried to pickup pennies in front of a steamroller.

Was long a bunch of August calls, then decided to short the market overnight by selling a bunch of short-dated "weekly" call options that were expiring the next day. Stock popped overnight, my portfolio got drowned. And I had to buy back the calls before they got assigned and I had a margin liquidation.

I am not a rich man.

Hi..(not so) New Trader..just one suggestion for perhaps next time. Rather than eat the full loss, since you were long Aug just roll the shorts to the next week? Perhaps a higher strike. then roll again until you have to close out with your final roll. The hit most likely would have been less.

Having said that I found out Monday (too late) I was a proud owner of a long ES...completely forgotten I had bought it! No matter how old/new a trader you are there is that element of "human" error.

 

[sellindexvol66]

this is essentially my week ending 7/27 long , short vols

+$13,300

 

[njrookie1]

+1300 for the 4th week of July. nothing to write home about.

 

[zbojnik]

Quote from njrookie1:

+1300 for the 4th week of July. nothing to write home about.

Do you trade stocks?

 

[njrookie1]

i trade everything, including my tomato and my chicken

 

[d08]

Black sheep of last week, no blotter but -$6944.

 

[Dustin]

It's not often I get to post a best day...so thanks Knight! Unfortunately the CO trade will get broken, so the actual is about $10k less. Congrats to everyone that took some dough from the big boys today.

 

[swag]

Wow Dustin, blast from the past p/l. Hope lescor and red ink are still killing it. And we all thought ET was dead. Well, maybe it is, but the dream lives on.....

 

[ChkitOut]

Quote from Dustin:

It's not often I get to post a best day...so thanks Knight! Unfortunately the CO trade will get broken, so the actual is about $10k less. Congrats to everyone that took some dough from the big boys today.

I remember a while back a post from you that said buy stocks that are going up and sell stocks that are going down. I take it thats not exactly what you did here.