since when did Neke say he planned to make a 20,000% return on his money? This is a suicidal High Risk of Ruin that is a horrible idea and example to other newbies like yourself, that if it lucks out, will crow like a rooster, but in the 99.9999% chance it does not, will just quietly go away. And if you do, no one will ever believe you unless you get it INDEPENDENTLY audited at one of the 6-7 tracking websites bouncing around.
The odds of ruin are not 99.9999%. I reckon they were around 50% when i started, now they are they are a bit less. The odds of hitting my 100K target in six months are very slim, but i still think much higher than say 0.00001%. I probably wont hit 100K in six months, but i think i have a very good chance of hitting 50K in a year. Which is still pretty awesome trading by any standard. As for no one believing me, i dont care, i will have learnt a new skill. And shown others that it is possible. Ofcourse some of those who cant do it themselves will think i am making this all up. Also i am not a newbie, i am a successful automated trader, but i have never mastered discretionary day trading, i have tried this type of trading a few times in the past and always failed and given up after a day or two. With this journal i have lasted 10 days so far..
I did not say the risk of ruin is 99.9999%. I said "in the 99.9999% chance it does not" - reach your goal. And your risk of ruin calculation is completely groundless. It is difficult to calculate. But your pursuit is extreme gambling. It has nothing to do with neke.
And i never said my trading was anything like neke's. I said this journal was inspired by neke's journal. Meaning i felt inspired to do this journal after reading neke's. As for gambling, that would depend on me having a consistent edge or not. You are in no position to know that. You can accuse me of gunslinging but you have can no idea if i am gambling or not.
I have lowered my expecations, i think 100K in six months was a bit to agressive and put me under undue pressure. I have started a new thread, with an aim to making just 50K in one year. http://www.elitetrader.com/vb/showthread.php?threadid=168822 I will no longer be posting on this thread. Would the mods please close this thread.