You are correct I don't know his trading neither do I need to know. However this is a public journal so we comment. I thought my comment was actually constructive. Think about it. Any experienced trader like Neke ( I assume he is) no matter how good or brave if he has over 300K to play with and takes 229 trades over a 4 month period and can't make money there is problem, maybe small or big. I'm not prescribing him what he needs to do but just pointing out to take time out and carefully consider his options to avoid going through another unprofitable 4 months. It can happen becuase I know I have been down that road several times before. But only him knows what he needs to change.
Weekly Update for week 15/50 ended 4/23/2011 Moderately positive week, up 2.6K (0.8%). Couldn't get going on earnings week. Missed opportunities seem abundant, but failed to capitalize on any. Hope can do better next week. Code: Opening Balance: 315,319 Net gain for the week 2,580 ------------------------------------------------ Net Balance: 317,899 Number of Trades 18 Number of Profitable Trades 10 Since Inception of Thread 01/8/2011 - 4/23/2011 Opening Balance: 335,899 Net loss(Less Margin Interest) 218,000 (Down 5.4%) ------------------------------------------------ Net Balance 317,899 Number of Trades 247 Number of Profitable Trades 142
Weekly Update for week 16/50 ended 4/29/2011 Bad week, down 8K (2.6%). The week started on a bad note on Monday with first trade. Faded the open on SOHU with PUT options with a illogical bearish bias after a stellar earnings. No reason for trade other than tendency of stock to sell down after earnings. Lost 15K there. The rest of the week was full of activities (auto and discretionary) with no headway. Code: Opening Balance: 317,899 Net loss for the week 8,431 ------------------------------------------------ Net Balance: 309,468 Number of Trades 34 Number of Profitable Trades 19 Since Inception of Thread 01/8/2011 - 4/29/2011 Opening Balance: 335,899 Net loss(Less Margin Interest) 26,431 (Down 7.9%) ------------------------------------------------ Net Balance 309,468 Number of Trades 281 Number of Profitable Trades 161 SOHUMAY212011100.0PUT 2011-04-25-09-32-27 2011-04-25-10-54-34 10000 47300 32000 -15452 SOHU PUT
neke, you are to be commended for your disclosure. But something seems amiss in that we have been in one of the greatest equity bull markets of all time yet your account has been shrinking, especially last year.
Neke, I don't get ir. why don't you apply some more stringent risk management techniques and build a track record. Then raise some capital for a small fund.
With the huge drawdown (over 50%) he has had in the past there is no way he could ever attract any money.