Neke, AT the start of the year you posted this: For my current year expectations, I have modelled my strategies for about 400 trades (about a third of the number of trades I did last year). There were just too many ill-conceived trades that dented my account. Do you feel like you still entered too many trades or did the increase in the VIX change the overall trading plan, i.e. more set ups you look for?
Sure, I still feel I placed too many trades (1146 as of last week-end). When I look at my trades, the top 4 strategies, with a total of about 300 trades, would have more than accounted for all the gains. Could I have known ahead those strategies are sufficient at the beginning of the year? probably not, although I knew their potential. So I shall try and keep the "edge-less" trades to a minimum and reduce their impact on the account, while emphasizing what works, and keep re-evaluating and revising all strategies. There are some strategies that for all practical purposes I don't trade anymore, because there is no evidence of an edge from the live trade data.
Big Congratulations Neke ! Hope you take it to $1,000,000 in 2009 ! You've got big balls, pal. I love your mindset, too - lost 60k one week - no fucking problem - get em next week. 500% return ytd -what more could you really ask for? Keep it coming. hammer
Congrats Neke. Everyone keeps saying that discretionary traders (non-automated) are at a big disadvantage. If you are doing automated trading. What types of tools do you utilize (ie TradeStation, Ninja Trader, etc)
neke, are you concerned with having $500,000 cash in an Ameritrade Account when only $100,000 cash is insured under SIPC?
Weekly Update for final week 50 ended 12/27/2008 An OK week, up 15K (3%). Traded Mon, Tue and Fri(one trade) on this holiday-quiet week. Just wanted to end the year on a high, and didn't hold on long to any position. Glad to have pulled off a year(1/13/2008-12/27/2008) with a 458K (447%) gain. Pleased as well to have the huge increase in volatility in the later part of the year that greatly improved the rate of progress. The year has highlighted the need for me to keep off trading if the opportunities are not there. For the first half of the year, there were a few strategies that were bringing in the money, while the others were destroying it. I have subsequently cut down on a lot of strategies while looking for / refining methods with an edge. This is going to be a continuous process as I go into the new year. Will pull out 175K in the next few days, leaving 360K to begin the new year. Wishing all of you a happy new year. Code: Opening Balance: 520,428 Net gain for the week 15,385 ------------------------------------------------ Net Balance: 535,813 Number of Trades 9 Number of Profitable Trades 8 Since Inception of Thread 01/13/2008 - 12/27/2008 Opening Balance: 102,615 Net gain (Less Margin Interest) 458,198 ------------------------------------------------ Balance Before Withdrawal: 560,813 (Up 447%) Cash Withdrawal -25,000 ------------------------------------------------ Net Balance 535,813 Number of Trades 1153 Number of Profitable Trades 686 Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE AMAG 2008-12-23-09-30-25 2008-12-23-10-05-05 15000 473323 482055 8729 LONG ----------------------------------------------------------------------- GW 2008-12-22-09-09-13 2008-12-22-09-53-23 10000 37998 36000 -1998 LONG
just went through 118 pages; congrats on ur success dude. I hope one day to be as successful as you. Have a great 2009 !
I think more people believe automated traders are at a disadvantage. With automated trading you need to keep volatility in control with mechanical tools, with discretionary, only your emotions. It is funny the one strategy's weakness is the other strategy's strength and vice-versa