What is this; the "would'a could'a should'a" thread? Come on now, the flaw in neke's process has nothing to do with trade selection. He obviously has edge there so don't start second guessing what isn't broken. The issue here lies in overall risk management and percent risk per trade. If he manages to keep emotions out of those two decisions he'll have much less pain in the future...
No disrespect No Doji but hindsight is 20/20, looks so obvious after the fact yet proves nothing since the past shows everything of pretty much every theory out there. No Heat
That is just the nature of the market to force one out at near the top or bottom so they don't participate in the next move. Live and learn from the money lost, and do not reflect on what is in the past.
For the "Hindsight is 20/20" comments, come on! Time decay occurs right before your eyes and how many times has Neke done this?
Another illustrious contribution -- do you really think the guy who made and put the $3 million into that account would be an idiot and if you read as much as you post the guy was talking about "relative" safe returns averaging 5%. He wasnt talking about trading.
while hindsight is 20/20 - no disagreement there - there could also be a case made within the risk management framework for allowing swing trading options for more than a day/less than a week with a reasonable (conservative, etc) amount of ones capital. maybe not gonna make 4mill by the end of the year like this (esp. cuz would have had to use Feb options in this case), but could get out at pre-defined risk point or ones profit target (assuming the technical case for trade was there and not invalidated, by whatever measure you use) not to jump aboard the opinion express, and while i'm sure you know this, it never hurts to say it out loud, as these two axioms have helped me: define your time frame and define your risk.
You're justifying this trade by saying you know it was insane but it could have been even more insane if not for your personal control. This insanity will occur again on an intra-day time frame. This is a gambling journal. That's pretty obvious from the stated goal of a 1000% gain in 12 months. That's not to say you cannot make a lot of dough gambling. If you're to reach your goal you must employ rigid risk management. So far what I have seen is a lot of 'if my broker had this in place this wouldn't have happened, if I could do 'abc' this would have been avoidable.' How about you take a position, set a stop and a sliding target then leave it alone. Problem solved. Sadly Mr. Neke, you have not hit bottom. I'm still cheering for you but to be honest I will be surprised if this doesn't end badly. Please prove me wrong. Good luck, Red
He turned his Initial 15k I think. to 105k using his Elite gambling skills, i believe. His older threads are somewhere on this forum.
Trading is gambling, doesn't matter how much risk you throw in the equation. If chris ferguson, Johnny Chan, or any other pro gambler only risk 3% of their chips, or 50%, it's still gambling on an uncertain outcome.