Taking 410K to 4million by Year End 2010

Neither, referring to the thread title.

 

Sheer stupidity comes to mind.

 

let him do what he does, it isn't easy if it was one us could have killed yourselves by taking such big losses. He has time to make it back and he will. Good luck Neke.

 

Weekly Update for week 18/50 ended 05/15/2010

Great week, up 33K (15.6%). Recovered almost all of last week's plunge.

Biggest gain was a regretful one. Hit BIDU puts with 127 contracts, about twice what was intended, when the stock did its final push up to 82 on Thur, immediately closed out 67 contracts at break-even to bring the size down, and closed the rest as the price came down to 79, netting 9K. That was way too soon, was just too scared of holding onto that dangerous momentum stock. Had I held till EOD, the gain should have been a whole lot more. All my decisions recently on whether to close at target or hold till EOD have been horrible: When I close early, I leave too much on the table; when I hold for EOD, I give back much of the gains.

Code:

Opening Balance:                	213,958
Net gain for the week 		      	 33,353
------------------------------------------------
Net Balance:                   		247,311

Number of Trades	            	 30
Number of Profitable Trades    	    	 20


Since Inception of Thread   01/10/2010 - 05/14/2010

Opening Balance:                   	410,000
Net loss(Less Margin Interest)		162,689 (Down 40%)
------------------------------------------------
Net Balance				247,311

Number of Trades	           	636
Number of Profitable Trades        	322


BIDUMAY22201080.0PUT	2010-05-13-09-48-41	2010-05-13-10-54-01	12700	33720	42560	8632	BIDU PUT
PCLNMAY222010220.0PUT	2010-05-11-09-35-32	2010-05-11-10-45-42	2000	20600	27712	7065	PCLN PUT

								

 

Congrats, neke. I don't think I've ever commented on this thread, but I've always been a regular reader. I think you deserve two thumbs up just for sharing your results with grace during times good and bad.

As far as results... you don't owe an explanation to anyone but your investors (if you ever decide to take any), and perhaps your spouse.

 

attachment

 

Keep it up. I like the journal.

 

If he ever decides to take in any investors?????? Who are you kidding???? Only a fool would entrust their money to someone who has suffered over a 40% drawdown.

 

if you would kill yourself just because you lose 200k+, then please don't trade. Your life is definitely worth more than 200k+:eek: