neke, are you certain that it is worth putting your money in single stocks (even if it only intra-day)? Look at what happened to MTXX! have you considered the other commodities such as corn, OJ, etc?
Dispite (lol) the losses, it's not really hit Neke that he has no edge in the Spy calls or puts. Mostly he's recently had big wins in AIG, followed by big losses, which just accents the fact that he didn't know what he was doing with the calls in the first place. Still up, but with way too much volatility.
Hmmm. What can I add that's useful that I haven't said already? Nothing. Oh my gosh, you had a losing week! The sky is falling, time to question whether one should even trade! ... Is water really wet? Oh well, you had a negative week. Happens. Try to forget about it. Try to enjoy the weekend. Despite these imperfections, your account balance marches inexorably upwards. Wilt
The guy is attempting to increase his account 10 fold,and you are commenting on his volatility?? If he is not 100% scar tissue at year end,he deserves "The Trading Medal of Honor"... Give credit where credit is due...
Hi Neke, This comment sticks out to me: "Set of a chain of frenzied action which only served to deepen the loss." You went on tilt it seems. Nothing wrong with getting frustrated every once in while, as long as it doesn't reinforce bad habits per taking poor trades that "work out" by luck or poor R/R management. That urge to "frenzy" is one of the most difficult to control and I'm worried you're pushing your will power/discipline to its limits. This is the most difficult part of discretionary trading IMO. Handling the market's tendency to consistently push you towards that breaking point - and - not breaking... i.e. just walking away for a while. I guess I'm not really saying anything new here since you're willing to deal with such swings, but, if your size is causing you to get to that frenzy point, maybe your're pushing too much size. Mike
please don't quote that loser/idiot. He's on ignore for a reason. All I notice is that Neke doesn't quickly move with market sentiment. I wasn't surprised to see this loss given the drop on Tuesday and the lame trading session on weds, I was sure he was gonna play for a fade/bounce. Unfortunately that didn't quite work out. Neke, You win some and lose some....just gotta cut the losers short. When clowns blowinsky start talking you ask them to show their loss-proof strategy.
Neke, you've dipped down to previous resistance. Now it's important that previous resistance becomes new support; this sets up the rally to a new high. Don't chase trades, let the setup confirm, and no revenge trades. (I can give advice because I'm long 1000 NEKE Dec 975K calls)
Blowinsky would have to actually have traded real size to understand the kind of heat Neke is dealing with; blowhard is the douchebag of the year. He has been asked repeatedly not to comment. Check out his journal if you want a laugh, apparently having access to Fidelity wealth lab shows you have made it as a trader. :eek: Neke keep swinging for the fences, you may want to consider a max % loss per week to keep your drawdown in check, none of my business though, good trading.