When that phenomenon works in your favor it can sure put a smile on your face though. Keep focusing on the process. The results will follow.
I entered it as an intra-day trade, and closed it out before EOD. I know it would have gone my way if I had held on overnight.
Weekly Update for week 13/50 ended 04/11/2009 Another moderately positive week, up 10.5K (2.9%). Pleased to end the week positive given how horribly I traded. Thursday was full of scary trades.Bought 5000 WFC at 19.69 shortly after market open. The stock kept drifting down and I added another 5000 @ 19.59 shortly thereafter, and then more and more as it went down until I was almost out of buying power: total 50000 shares @ average of 19.00. Crashed out by 10:30 @ 18.50 for a 25K loss, and immediately took revenge: shorted 50000 @ 18.50 and covered at 18.10, netting 20K. Regretted as the stock kept going lower, and shorted more at 17.50 and 17.81: wrong move, covered at 18.00, losing 13K. At the same time initiated a series of quick long scalps on BAC which made me whole for the day: again regret not holding for the duration of the move. Too much leverage violating my new sizing rules, and revenge trading: to be avoided. Have to remind myself to tread cautiously next week. Code: Opening Balance: 358,684 Net gain for the week 10,528 ------------------------------------------------ Net Balance: 369,212 Number of Trades 25 Number of Profitable Trades 18 Since Inception of Thread 01/10/2009 - 04/11/2009 Opening Balance: 320,064 Net gain (Less Margin Interest) 49,148 (Up 15%) ------------------------------------------------ Net Balance 369,212 Number of Trades 308 Number of Profitable Trades 195 Top/Bottom Discretionary Trades for the week TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE WFC 2009-04-09-10-31-28 2009-04-09-10-48-00 50000 904386 925080 20655 SHORT BAC 2009-04-09-12-29-25 2009-04-09-12-56-23 40000 342400 358035 15611 LONG BAC 2009-04-09-15-32-59 2009-04-09-15-35-22 100000 962000 970060 8021 LONG BAC 2009-04-09-15-19-59 2009-04-09-15-31-25 100000 945855 953001 7108 LONG ------------------------------------------------------------------ WFC 2009-04-09-11-53-47 2009-04-09-12-34-51 40000 720867 707483 -13437 SHORT WFC 2009-04-09-14-30-43 2009-04-09-15-19-45 40000 760000 745440 -14601 SHORT WFC 2009-04-09-09-32-53 2009-04-09-10-30-22 50000 950137 925284 -24926 LONG
AHAHAHA BarbaraM. I laugh at you. What the f is he dreaming about hater? Stop trying to project your inabilities and inferiority onto others in a veiled attempt to create a higher relative value of yourself. Bitch. Good job Neke. BTW, I'm sure you blew BarbaraM's PnL out this week too. Keep it up. If you don't have have haters you're not doing anything right. You should be proud Neke. Wilt
Sorry, hate to burst your "if I can't do it, nobody can" bubble, but this is not a rags to riches dreamer. You've got Neke ALL WRONG. Neke took $103,000 to over $500,000 last year. It is clear to anyone with any sense that Neke is running a massive Ponzi scheme to be able to outperform the market like that. (Neke, you rock and are a major inspiration to a lot of people. Congrats on the new baby! - NoD)
keep it up man! inspirational to watch, one thing that would be interesting would be to hear/read more about why you entered and exited trades. ie: did you just go long WFC because of momentum or are you using intraday technials or trading the news? some more knowledge of your tools and thoughts would be great. even if you dont' want to share that, still great to watch this. keep it up and cheers on the new child!