Taking 320K to 3.5million by Year End 2009

Discussion in 'Journals' started by neke, Jan 11, 2009.

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  1. I think that he thought you were talking about risk per trade.
     
    #481     Jul 11, 2009
  2. JAP

    JAP

    Outsized is an understatement... way too much risk here. Shooting for 10x return on your money in 1 year is not very realistic either. Might as well go to Vegas and play it on black or red.

    Still, I got to give Neke props for putting himself out there and for his honesty.
     
    #482     Jul 12, 2009
  3. your account is too large. you need withdraw some money from it, or you need split it into several accounts.
    one account keep 150k, load some mutual funds or etfs, find good spot and stay there for several months or years

    another account is aroun 50k, do day trading, produce some positive cash flow

    the remaining is just withdrew, you do not need so much money on the market
     
    #483     Jul 13, 2009
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    #484     Jul 13, 2009
  5. BarbaraM

    BarbaraM

    I agree, lots of dreaming.
     
    #485     Jul 13, 2009
  6. For an intraday time-frame, you are trading way too big, especially in certain options.

    Most people think if they don't hold overnight they can put on a huge position, but that's exactly why those trades usually fail.
     
    #486     Jul 13, 2009
  7. Only in options would that be the case. He's talking about ETF's though, I think, and that's a fine size.
     
    #487     Jul 13, 2009
  8. PS: Kinda late with this observation, but daytraders usually don't think in terms of % return; it's all about getting green day in, day out. A skilled trader wouldn't need much more capital than what you have to begin with, and be able to bank a 7-figure year while taking out profits each and every month.

    Why not just bail on this thread's goal and have a monthly/daily target instead? It's a (mostly) silly trading forum after all, why not get serious about what's important and let the pie in the sky go?
     
    #488     Jul 13, 2009
  9. I'm referring to trades like buying 2k atm puts on FSLR the week of expiration. D'ya think the mm's are gonna let him get away with that stuff?
     
    #489     Jul 13, 2009
  10. NoDoji

    NoDoji

    I do not believe Neke ever bought 2000 of any option.
     
    #490     Jul 13, 2009
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