Weekly Update for week 7 ended 03/01/2008 An OK week, up 6.3K (5.7%). Built on Monday, destroyed on Tuesday, built again on Wednesday and Thursday, only to have the market thrash a good chunk of my gains on nasty Friday. I am pleased the account is coming along on the positive side. Still scared of taking unusual risk that could hit my account hard. So although I am tracking below trend, I am positive at some point I will have enough buffer to muster up the confidence to take extra risk. Hopefully the discipline I am practicing will get even better to handle the extra pressure increased risk will bring. Code: Balance B/F: 111,369 Net Gain for the week 6,327 ------------------------------------------------ Balance C/F: 117,696 Number of Trades 25 Number of Profitable Trades 14 Since Inception of Thread 01/13/2008 - 03/01/2008 Balance B/F: 102,615 Net Gain (Less Margin Interest) 15,081 ------------------------------------------------ Balance C/F: 117,696 (Up 14.7%) Number of Trades 128 Number of Profitable Trades 74 Expected Balance at this time to be on track for Year-End Target : 144,793 Status: Behind Target (Based on adjusted balance before withdrawals) Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAINS/LOSS TYPE PDGI 2008-02-28-09-19-58 2008-02-28-09-33-06 2000 58560 64032 5451 SHORT FWLT 2008-02-26-10-24-24 2008-02-26-12-13-44 1800 129599 133415 3795 LONG ---------------------------------------------- GOPOJ 2008-02-26-11-48-45 2008-02-26-12-13-05 1000 18300 15600 -2735 PUT OPTION CRM 2008-02-28-09-49-54 2008-02-28-11-13-27 2000 122383 119600 -2804 SHORT
yes nice job. but you are still off your target(current) if you want to achieve what you have in mind by year end.
yeah but when you have your own plan, it doesnt make sense to compare yourself to other people. focus only what you can do, not what others are doing.
Nice job Neke, you have really improved as a trader. Consistency is more important than outsize profits for any time period and will lead to wealth.
Excellent point, you can do research on his posts to see the value of his statements. *** You're providing the readers with an advance class in how to turn things around and consistently turn out the profits Neke ... one only wonders how long you're going to continue working for a living. Thanks
Thanks, I appreciate the observation. I believe consistency comes with being disciplined with every trade: entry decision, sizing, exit decision. I need to collect enough trades on each strategy to decide what an optimal sizing should be. Before that, it is much better to play it safe, especially on a somewhat baseline balance. Will continue working for a living until the balance comes up to a much larger value and, like you said, with proven consistency.
Hey Neke, great performance so far. Maybe you're onto something by taking less risk. Just a thought here and take it with a grain of salt , but what if you broke your account into 2 seperate portfolios where one continues the method of less risk you're using right now, and the other takes on the more extreme risk when you decide to increase your gains? That way if the conservative method you are using now proves to be highly successful, you'll continue to fine-tune it even as you again try to shoot for the stars with your more volatile methods. You don't want to throw the baby out with the bathwater after all (if I may use the most overused cliche in existence )
Weekly Update for week 8 ended 03/08/2008 Worked all week, and all I have to show is $675 (+0.6%). Hardly enough to put bread on the family table for the week. Should have been an Ok week, but for starting an automated strategy that cost me 6K. I have been looking at incorporating some automated methods once again. The first strategy was ready to roll and the first trade was a collosal loss of 6K. Very demoralizing way to start. It is an overnight approach, but happened to be hit with unexpected overnight news that moved the stock against me. Not giving up on this strategy, since I do not expect such stock-moving news to be the norm. Code: Balance B/F: 117,696 Net Gain for the week 675 ------------------------------------------------ Balance C/F: 118,371 Number of Trades 28 Number of Profitable Trades 19 Since Inception of Thread 01/13/2008 - 03/08/2008 Balance B/F: 102,615 Net Gain (Less Margin Interest) 15,756 ------------------------------------------------ Balance C/F: 118,371 (Up 15.4%) Number of Trades 156 Number of Profitable Trades 93 Expected Balance at this time to be on track for Year-End Target : 152,093 Status: Behind Target (Based on adjusted balance before withdrawals) Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAINS/LOSS TYPE BOOM 2008-03-06-16-44-15 2008-03-07-09-30-37 800 37034 39800 2746 SHORT ----------------------------------------------------------- ???? 3000 45656 39450 -6227 SHORT