i think this guy is just playing games with this pnl journal all this time. it's easy for anyone to do this when they have nothing better to do with their time. " tragedy has stuck " comment. final nail in the coffin imo. we seen it before . why is this different with him .. Not buying it.
The "strategy has struck" comment seemed to be more of a joke, considering how many exclamation marks there were.
Come on, what kind of pathology does someone have to have to hang around on a trading forum for years pretending to trade? If I was going to come online and pretend to trade I would at least pretend to have large profits which I could pretend to enjoy.
aren't most of nekes trades against the grain buying when stocks fall and shorting when they rise? if so he was wiped silly this week
have your read the threads on this site. this is a mental hospital .. are you kidding me. i would not put it past anyone
Gosh, I havnt been on this forum in a while, and I check out this thread... yall need to support neke instead of rub sh-t in his face. He's done much better than many of us ever will.
Weekly Update for week 25/50 ended 7/01/2011 TERRIBLE run of weeks, down 31K for the week and down 112K for the month. That is the tragedy. A couple of weeks ago, I menioned I was turning to purely systematic trading, and have been working towards getting my system in place by start of next week. Seems Ill-fortune (or maybe resignation on my part) was determined to ensure I have little in the account left by the time the system is ready. The system coding is complete, and hopefully I will have got it tested enough to get it live next week. The bad hit was on Tuesday on NKE (no it wasn't YOUKU). On monday made no trade because there was nothing worth tradng. The frustration from that boredom must have stirred me to take the first thing I saw on tuesday, and that based on nothing but bias towards fading. Shorted 2000 shares at 86 just after market open, then 50 put (JUL 87.5 put) as the stock moved up, then another 50, and then 100 bringing the total to 200 @ 2.20 average price. It was clear I was trapped on a strong earnings release that I had no business fading. Did try to get out of my puts @ 2.25, but got filled on only 13 contracts. Not willing to pay extra to get out, I cancelled the order and went away. Came back and the stock had crossed 90 (on some follow on news). Disgusted, closed the 187 contracts @ 1.03 losing 22K in option, while another 8K was lost on the stock. Looking over the past weeks, it was clear I was throwing money away on things that have been a bleeder on the account: fading opening moves without doing my homework. Why I haven't stopped I am not sure. But this is why the system is being put in place next week. Since the start of the thread I have made 125 automated trades and 378 discretionary trades. I have absolutely no business doing 378 discretionary trades in less than 6 months. My model is predicated on taking size on rare opportunities. For the next six months, I could probably see just 60 discretionary trades. Given there are 120 trading days (give or take), that means there will be many days when no opportunity shows up. The system will ensure that every discretionary trade is allowed only based on prior automated alerts with closure of trades that do not meet the criteria. Will start with little size, and scale up as the account grows. Code: Opening Balance: 251,798 Net loss for the week 31,154 ------------------------------------------------ Net Balance: 220,644 Number of Trades 15 Number of Profitable Trades 5 Since Inception of Thread 01/8/2011 - 7/1/2011 Opening Balance: 335,899 Net loss (Less Margin Interest) 115,256 (Down 34%) ------------------------------------------------ Net Balance 220,644 Number of Trades 503 Number of Profitable Trades 262