bleeding stopped at the end of year 5, so you were once a human being. Don't you think losing 50% in the first 2 weeks is a little too quick? I remember I once bought CPN (Calpine Energy), not knowing it was going bankrupt (ignorance is bliss). That trade cut my capital by half, managed to get most back the next day. But slow bleeding was the norm. Thanks for telling everyone about your attendance at the University of Hardknocks. Great inspiration. Red_Ink graduated from the University a couple of years earlier, he was once a human too.
you are the man. Neke. maybe shouldn't say this, but try to stay focused when things is going well. solid work!
<b><i>Neke, I'd like to say something to you. Congratualations. I am very impressed with the profits. I wish all the best of luck to you. My comments are because I've seen too many blowups. Things like a 3 hour google call that loses $55k, you know? It's not just that one, but I'm sure I'm not the only elite trader that would say that. I'm sure you know, and I'm very aware that's your MO, but I truly hope that you can keep it up, and actually have ironclad rules governing your transactions. I'm getting the sense that you do now, but maybe didn't have them in the beginning, even on the 76k early thread. But, who cares? You made money, and I'm sure you think it was worth it. The cooper comment on the previous page is right. You went to the casino to make $1,000 with $100. Of course you could go bust, or lose half before you call it quits. </b></i>
Impressive results! Congrats. I just found your thread and will follow it from now on (although I don't trade Stocks/Options, but Futures, it's educational to see profitable trading in other instruments).
If you would have known at around 10AM and after, that the stock would touch 118 at least, would that information help you in your trading (entry, etc)? I am asking because your concerns seem to have been the pull back to reduce the down side, while what I am providing here is the upside level.
Only stocks, starting from the long side (all I knew) until I learnt how to short a year into the experience. Then added stock options sometime in 2002.
Oh, ya, it was faster that I imagined, given I was only going long stock (all I knew then), without margin, all NASDAQ stocks, and the nasdaq actually rose like 30% in that month. That more than told me I was doing something opposite to what makes money!! How did I buy my first stock? I downloaded the list of Nasdaq stocks, picked a number of them (aboutt 20) randomly, watched their flash quotes for like 4 or 5 days, picked the one that went up everyday, and by the biggest percentages, bought and watched the following days how it went lower while the market went up!! What a way to discover a losing strategy!!! Of course it could have been easy to deduce the opposite, but determining what to do differently and developing the mindset to do it was easier said that done.
Neke, What is the greatest lesson you learned since you started trading? What are you doing now that you didn't do in your early years that lead to your success?