I would like to point out Neke is making profits through discretionary trading. Since his universe of stocks and options to trade is so wide, his performance of his automated strategies has not been making any profit. To get automation working for him I suggest following the nasdaq100 and I know this will improve his automation and still allow him to scale into discretionary bets.
Oh yeah? What if he would have stopped when the naysayers say he couldn't do it ? How much loss would he had ? He got his game together and is on the right track. The nay sayers are wrong. He didn't listen and continued. Of course he will have losing weeks, but this guy looks what's wrong, adjusts and keeps going. Many other real losers give up and cry and become....nay sayers.
Makes no sense. Nasdaq 100 list isn't special in any way and in fact many of the components (semis) show strong correlation. There are hundreds of better ways to reduce exposure, if that is his problem.
Hey man, see your accountant about this loss, there is a tax provision for a "carry back" in which you can get a fairly large reimbursement against past taxes paid on your current equity losses... in your case ** probably in the 40- 45k range** Uncle Sam can pay you! Ask specifically for the ** carry back** provision. Seriously, you should look into this. Best in trading for 2012!!
Yes talk to a good trader tax accountant. But AFAIK, you can carry back only if you trade through an LLC or have filed to trade under "trader status" already. -gariki
Quick recap for the last 3 weeks. Mostly on vacation and away from trading, but managed to make 16K from 3 trades, including 9K from C today. Took out 6K for the month ended Dec 31, 2011. Current balance now 203K to start the new thread: 2012: The Battle for Survival