Neke, I forgot if you ever wrote about your learning curve in trading. Are you willing to share this with us?
Neke, I traded some SPY puts the other day. I'm no options trader but SPY options trade so nice I want to start. I'll probably pick up some calls tomorrow I think we are in for a bounce.
Weekly Update for week 45 ended 11/21/2008 Good week, up 51K (12.8%). Got a mighty lift on Friday's rally to avoid an otherwise mediocre week. Shorted 5000 SPY @ 77.45 soon after the open, fading the early advance. Covered @ 76.18 for a gain of 6.2K. Came back in the afternoon, seeing the market see-sawing aimlessly - scalped another 5000 shares ( short @ 75.6, covered @ 75.4, making 1K). Thought I could scalp a little more, shorting 5000 @ 76.1 (3:03pm). Ooops, that was a mistake. Watched the market take off. Covered @ 77.7, losing 8K (Just why I hate scalping for pennies. It is like standing by the rail-line trying to grab coins dropping from the coaches.) Turned round, and bought 10000 shares @ 78, added another 6000 shares on a pull-back to 77.70 and closed soon after close @ 80.14, pocketing 35K. Nice way to end the week. Looking forward to next week. Code: Opening Balance: 397,883 Net gain for the week 50,865 ------------------------------------------------ Net Balance: 448,748 Number of Trades 23 Number of Profitable Trades 16 Since Inception of Thread 01/13/2008 - 11/21/2008 Opening Balance: 102,615 Net gain (Less Margin Interest) 371,133 ------------------------------------------------ Balance Before Withdrawal: 473,748 (Up 362%) Cash Withdrawal -25,000 ------------------------------------------------ Net Balance 448,748 Number of Trades 1067 Number of Profitable Trades 635 Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE SPY 2008-11-21-15-14-41 2008-11-21-16-02-00 16000 1246991 1282240 35212 LONG SZCKF 2008-11-18-14-37-04 2008-11-18-15-09-47 40000 97400 114000 15969 SPY CALL --------------------------------------------------------------------- SPY 2008-11-21-15-03-25 2008-11-21-15-14-10 5000 388500 380587 -7935 SHORT QHBWT 2008-11-19-09-38-20 2008-11-19-11-04-19 15000 67500 55500 -12255 FSLR PUT
I'm speechless in that the chart is starting to look like the NASDAQ circa 2000. :eek: Large draw down is just around the corner.
your contributions to this board are of no value keep up the good work neke. Your psychological approach seems to be avaluable asset to your success. safe trading next week and good luck!