Remember last year when you were at this point and then lost all of the gains in just a few weeks. Why not take at least 25% off the table at this point so you can lock in the gains? Personally, I would take off the table what I put into it and then gamble with the house's money. I know that strategy sounds so Crameresque, however, seeing your history from last year why not play it safe this time around?
To this and previous posters: Do you understand what he is trying to achieve? Whether you feel it is reckless or dumb trading or whatever, it seems to be his style. Just let the guy trade the way he chooses, not what you would do. Why is his way wrong and your way right? He would never reach a million if he was to take out to much profits or all his principal. BIG profits REQUIRE, BIG risks. Sorry neke, I know you can defend yourself and you probably don't need to but when folks start telling a guy how to trade and how he should limit risk it really grates on my nerves. Folks, lets let every other trader trade as they will - some are fodder and some are not. Chris P.S. I do enjoy watching your progress, keep on swinging - remember Babe Ruth, the strike out king??
Im not saying he is wrong or bringing discredit down upon him. All I am doing is making a simple constructive suggestion and I hope it is taken into consideration. Im not saying what is right or wrong, but just suggesting a way to play it safe and to protect the gains that have been achieved. In this case, my suggestion would be to take at least 50k off the table and place it into 3-6 month CD. Lock the money down for 3-6 months. Locking down the gains for 3-6 months would not harm his goal and protect him from the distinct possibility of him going to zero. In fact, it would further his goals as he would have a second chance should the worse come.
" BIG profits REQUIRE, BIG risks." So can we take it that you're a student of the Nick Leeson approach to trading!
let Neke reach his goal. No need to take out a puny 50k and buy a cd paying jack. what is a few hundred in interest to a person who nets over 100k per year trading.