Does your calculation pay attention to cash withdrawals (over 400K during that time period)? Simply checking opening and closing balance does not give you a P&L figure, does it ?
nope!, that does make it look better... just keep working on not averaging down and you'll be well away Neke. Remember quite often traders that use averaging down in their strategies swear that it works for them, until they go one average too far...then they are broke traders! So keep it clean and the sky is your limit... ps.I think you have an awesome appetite for risk, I couldn't do what you do!
Hello Neke, I read this entire thread over the weekend and there is some great advice here. When I read your posts I am reminded of the words, "it's a young man's game" which I heard many years ago when I began my trading career. I went broke trading the way you do. Like you I started with a ridiculously small amount of money and ran it up to a respectable sum. I suffered drawdowns like you did in January and as I got older I was less fit to withstand them psychologically. They were my undoing. From what I can see even if you make a full recovery you will always be prone to the disasters you faced with the Bidu call trade earlier this year when you pursue this trading style. That is what happens with your discretionary style. You handle it better then most so far. I wish you the best and I look forward to reading your future posts.
the money is there waiting for you,some of it is at the top of mt aetna,inside the volcano, but it's there, some 300 ft under water,both are high risk ,high reward sums, some of it is just sitting there on a park bench,smaller amount, but just sitting there,bidu is high risk money....higher the risk, higher the reward, it's always a question of how much risk
Moderately positive week, up 4.5K (1.4%). Still not a lot moving, just snapping up SPY CALL on the pull-back here and there, gaining some here, losing some there. My automation again found nothing interesting, the couple of times it should have picked some shorts, the stocks were unavailable to short. Code: Opening Balance: 330,720 Net gain for the week 4,513 ------------------------------------------------ Net Balance: 335,233 Number of Trades 9 Number of Profitable Trades 6 Since Inception of Thread 01/10/2010 - 11/26/2010 Opening Balance: 410,000 Net loss(Less Margin Interest) 74,767 (Down 18%) ------------------------------------------------ Net Balance 335,233 Number of Trades 1243 Number of Profitable Trades 678 BREAK-DOWN BY AUTOMATED/DISCRETIONARY Number P/L Best Gainer Worst Loser DISCR 9 4,513.00 3,479.30 -4,562.60
neke congrats on a good week! I noticed your auto trades seem to be falling off. Any chance you're going to rework them a bit?
Weekly Update for week 47/50 ended 12/04/2010 Negative week, down 10K (3%). The good win ratio should have meant a positive week but for some nasty beatings in NFLX and the SPY. Lost 16K on Tues trying to call a short-term top on NFLX soon after it rocketed above 200. Got 75 DEC18 200 PUTs @ 8.80. The stock refused to go down, and cost me 16K by end of day. Didn't stay long enough; those options are worth 17.00 now. Will probably look further into possibility of doing some swing trades when opportunities arise. Lost 10K on SPY puts Thursday. Code: Opening Balance: 335,233 Net gain for the week 10,263 ------------------------------------------------ Net Balance: 324,979 Number of Trades 16 Number of Profitable Trades 11 Since Inception of Thread 01/10/2010 - 12/04/2010 Opening Balance: 410,000 Net loss(Less Margin Interest) 85,030 (Down 21%) ------------------------------------------------ Net Balance 335,233 Number of Trades 1259 Number of Profitable Trades 689 BREAK-DOWN BY AUTOMATED/DISCRETIONARY Number P/L Best Gainer Worst Loser AUTO 1 2,127.90 2,127.90 0.00 DISCR 15 -12,075.40 5,114.60 -15,796.60 TOP/BOTTOM DISCRETIONARY TRADES TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE --------------------------- SPYDEC031210124.0PUT 2010-12-02-10-04-17 2010-12-02-15-48-39 17000 36220 25670 -10792.4 SPY PUT NFLXDEC181210200.0PUT 2010-11-30-10-24-00 2010-11-30-15-29-24 8500 74900 59250 -15796.6 NFLX PUT
"net gain" should read "net loss" in the table. you had several very good weeks recently. the way you trade it is easy to get complacent and try to b/e for the year gaining 85K. just be careful.
Weekly Update for week 48/50 ended 12/11/2010 Great week, up 26K (8%). Very few trades, but great win rate (just one losing trade - an automated one losing $886). Big winner was LULU which I accumulated from pre-market on Thur starting @ 61.70, closing later @ 65.30 avg. Code: Opening Balance: 324,979 Net gain for the week 26,297 ------------------------------------------------ Net Balance: 351,276 Number of Trades 7 Number of Profitable Trades 6 Since Inception of Thread 01/10/2010 - 12/11/2010 Opening Balance: 410,000 Net loss(Less Margin Interest) 58,724 (Down 14%) ------------------------------------------------ Net Balance 351,276 Number of Trades 1266 Number of Profitable Trades 694 BREAK-DOWN BY AUTOMATED/DISCRETIONARY Number P/L Best Gainer Worst Loser AUTO 2 671.80 1,557.40 -885.60 DISCR 5 25,307.90 13,539.70 0.00 TOP/BOTTOM DISCRETIONARY TRADES TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE LULU 2010-12-09-09-22-41 2010-12-09-11-33-51 4700 293310 306883 13540 LONG ----------------------------------------------------------