What a pathetic market. I have myself to blame for not closing out at the silly opening gap. Anyone should have seen that taking over a company and rendering shares worthless does not bode well for equity holders of other distressed companies.
Hi Neke, Man, take it easy on yourself, half of us are in your situation and the other half don't know what hit them (except of course all those who always get it right :eek: ) No one could KNOW what was coming, even though I'm sure everybody had a theory. For instance, I'm yet to figure out how in the world can the USD be going up and up when the Treasury has basically accepted tacitly yet publicly that the USA are broke (no offense). But, hey, I'm sure the explanations are coming - after the fact of course. So don't beat yourself up, right now is truly hard to predict what the market will do beyond the next tick. And yes, today was the day to double our accounts (or to go bust, so...) Best trading, I'm sure you're going to get back and beyond, Jorge
Oh Neke.. I was quite long SKF at 114.8 15 minutes to close Friday (broke a couple of rules)... I managed to hang on ang sell 105's but I did not have the guts to buy 96's in premarket today.. At least I didn't panic out early.. These feelings we have are plain pointless and are an energy drain.... when will we ever be at peace..
Which pairs work best for you? I am happy with futures, but my eyes are always open for something better...
Weekly Update for week 35 ended 09/13/2008 Silly week, down 20K (13%). Overtraded and lost heavily. Lost on FSLR option carried forward from last week. Lost 8K also, shorting LEH pre-market on Wednesday. Couldn't sit out the bounce before the eventual decline. Not good. Code: Opening Balance: 154,848 Net gain for the week -20,103 ------------------------------------------------ Net Balance: 134,745 Number of Trades 30 Number of Profitable Trades 13 Since Inception of Thread 01/13/2008 - 09/13/2008 Opening Balance: 102,615 Net gain (Less Margin Interest) 42,130 ------------------------------------------------ Balance Before Withdrawal: 144,745 (Up 41%) Cash Withdrawal -10,000 ------------------------------------------------ Net Balance 134,745 Number of Trades 837 Number of Profitable Trades 486
Don't be too hard on yourself. You'r up 40%+ for the year. You've most likely outperformed 90% of the hedge funds out there. Keep it up.. make mental notes of your mistakes.... I am sure you'll make a killing once the whipsaws in the markets cool down a bit! Keep it up!