2014: The Battle for Survival

Discussion in 'Journals' started by neke, Jan 5, 2014.

  1. taq


    congrats man.............all the best for 2014.
    #11     Jan 31, 2014
  2. and not bad considering he works a full time job at the same time. he is like most traders that make it in the long run. very few avoid the big draw down(s) in the process to instill methods and discipline to execute; including myself.

    good job neke; keep it going!
    #12     Feb 2, 2014
  3. lescor


    Glad to see you are still plugging away and still posting. I've followed all your posts along your journey and in my opinion, you already have what it takes to achieve long term success. You obviously have a profitable strategy and you have most of what I'd call a trader's mindset.

    However, your downfall hasn't just been making bad decisions that override your system. Your woes come from taking too much risk relative to the size of your account. It's been a consistent theme through all of your journals. Your first update and already your worst trade cost you almost 10% of your account. Sure you ended up nicely, but it wouldn't take too many bad trades in a row and you are at a new low and mentally broken again.

    It's not a race. Get rich slowly.
    #13     Feb 2, 2014
  4. lescor


    I re-read your post and see you realized right away the excess risk and adjusted for it. Good job. Your trade result distribution looks good too.

    Honestly the best thing you can do is remember that the #1 goal of trading is always:

    #1. Always. Write it down and put it where you can see it.
    #14     Feb 2, 2014
  5. spd


    What are you trading mostly these days Neke? Options?
    #15     Feb 2, 2014
  6. hi neke; i would like to ditto all the positive points made here.

    an extra big ditto to lescor point on protecting capital..

    this is a hard business like any other to excel in; so good luck in 2014.
    #16     Feb 2, 2014
  7. neke


    Yes, thanks. That trade was initially long 3200 shares, then exited half as the position went in my favour, leaving 1600 shares. When the stock went down later, and the average was triggered, it took an additional 4800 shares to bring the total to 6400, or twice the original entry qty. Needless to say it was not my intention for the system to average in after it has started paring down, talk-less of taking more than the qty on first entry. Without that average the position would still have lost like 2K. In retrospect it was a good thing the loss occurred on the first such trigger, made it all the easier to switch off the averaging.
    #17     Feb 2, 2014
  8. neke


    Still trade stocks and stock options. As the list showed, for Jan it was 19 option trades and 40 stock trades. I do options only if the stock has tight option spread, and very liquid.
    #18     Feb 2, 2014
  9. neke


    Thanks. I will see what the year gives with commitment to discipline.
    #19     Feb 2, 2014
  10. neke


    Awful on CRAY. Down 28K.

    Stayed at home today, turned off my system, and ... familiar story.

    So much for my commitment to discipline.
    #20     Feb 14, 2014