My opinion â which admittedly ainât worth much Those of you who enjoy reading this â I simply canât imagine whyâ¦.. For some of us â it is sadâ¦, a deep down sad that sticks in the pit of your stomach It took a considerable price for him to get to where he was (success wise) Evidently though it was not nearly enough â last year..., or this By all means enjoy the show â Neke is paying for it Just be sure to thank him on your way out â if nothing heâll have that as a memory, when it's said and done RN
Hey, I am not pissing at 12K!. I said it was a modest gain only in the ontext of the moves that happened the day before to my account. Of course I would be thrilled to have 12K a day everyday, but it doesn't come that way.
I do not consider my individual positions to be too big, but taken together on Wednesday, it was an over-exposure on the long side in a declining market. That brings me to the aspect of risk management I want to work on/develop rules for: when a signal starts generating lots of trades on the same side (long), how much of these should be taken before the overall risk is too much. As for stops, I'd rather not have them if I am fading over-extended moves. Studies and my own back-tests have shown they diminish and not increase returns if you are a pure fader (of over-extended moves when the levels are hit). Of course there will come times when the trend never reverses (in your timeframe), and your account survivability is in question (flash crash or actual crash of Oct 19, 1987), and it becomes necessary to develop contingencies for such. Getting out then becomes not a question of whether you expect a rebound or not, but whether your account can survive. In any case the signal that generated the trades on Wed probably would not have generated individual stocks on Oct 19, 1987.
ok, where are those advice-givers who advised neke to take human emotions out of trading and let the automated system work its way?
Neke, you obviously have some "mental" stop you use as you obviously have got out of some of the recent big losing trades for a loss, so what is your "mental" get out method? I understand your view on not using automated stops.
This was/is a huge winner for me. A good illustration how sticking to strong fundamental plays with leverage can be extremely profitable, especially when the trade is being somewhat ignored by the crowd. I expect TD to go to $90 Cdn by next week.
Weekly Update for week 8/50 ended 03/05/2011 Better week, up 10K (4.8%). Cut down average size this week, and made some nice gains here and there. Still working on laying a foundation for my portfolio risk/size management. Code: Opening Balance: 271,795 Net gain for the week 10,474 ------------------------------------------------ Net Balance: 282,269 Number of Trades 12 Number of Profitable Trades 8 Since Inception of Thread 01/8/2011 - 03/05/2011 Opening Balance: 335,899 Net loss(Less Margin Interest) 53,630 (Down 16%) ------------------------------------------------ Net Balance 282,269 Number of Trades 124 Number of Profitable Trades 67