Congrats on the baby! Ang gluck trading with the baby on your mind. Looking back this years results are even better taking this news into account.
neke, Have you considered trading thru a Prop Firm? Great leverage (50:1)... gi ven your performances with little leverage, you probably would have been able to grow your account about 10 fold if you had the trades in 2008 leveraged at 50:1... Walt
What about those option market makers from CBOE who make a living off neke? umemployment is already too high, dont give him any ideas
Weekly Update for week 8/50 ended 03/07/2009 Ugly, ugly week, down 34K (9%). Had my account reset (to starting balance) on Monday and Tuesday with steep losses on CMED, and then trying to anticipate a bounce in the market. Lost 31k in SPY stock and options as the market lacked institutional support to stage a bounce - It was a miserable market to watch, four weeks in a row of at least 4% weekly loss, and yet no meaningful bounce! I think it afforded me an opportunity to re-assess my game plan, and my expectation from each strategy. Looks like when I was ready to step up after some little buffer, I am sent back to the starting line. Let's just call this a false start. Laboured the rest of the week picking up some little pieces here and there. Code: Opening Balance: 367,623 Net loss for the week -33,636 ------------------------------------------------ Net Balance: 333,987 Number of Trades 28 Number of Profitable Trades 16 Since Inception of Thread 01/10/2009 - 03/07/2009 Opening Balance: 320,064 Net gain (Less Margin Interest) 13,923 (Up 4.3%) ------------------------------------------------ Net Balance 333,987 Number of Trades 169 Number of Profitable Trades 104 Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE SZCOR 2009-03-05-10-14-11 2009-03-05-11-58-38 20000 55800 71000 14886 SPY PUT DECK 2009-03-02-10-50-46 2009-03-03-09-37-29 5000 189665 201254 11553 LONG --------------------------------------------------------------------- SPY 2009-03-02-10-41-15 2009-03-02-15-50-57 8000 572800 564000 -8824 LONG CMED 2009-03-02-09-30-33 2009-03-02-15-37-21 10000 139500 124000 -15522 LONG SZCCU 2009-03-02-10-41-48 2009-03-03-13-33-36 40000 94000 71008 -23620 SPY CALL
Hi Neke, Since I'm an options trader myself, mostly in the SPY and ES, I read your journal from time to time to get some perspective on how you approach your trades. So I was wondering what made you decide to trade CMED this week. I cannot see anything special about it from a volatility stand point that is if you are a long gamma trader. Thanks.
Don't worry Neke, everyone has their drawdowns. My month isnt getting off on the right foot either, but we do what we can right? Best of luck - CM69