Good way to come back and get the momentum back. So happy that I won't be spending my weekend here to the the "told you so" posts! Just out of curiosity... when so much money is on the line how many hours do you spend concentrating on the day job and how many hours do you spend checking quotes and oppertunities? Enjoy the weekend and gluck next week!
I'll just admit I'm a little envious of those numbers. Great work. (not deeply envious... don't worry) I hope to some day be pulling that off. That should stave off the naysayers for a week or two.
A little risky I must say. I see your playing reversals -- when they occur you usually get a good move, when they don't it can get ugly -- especially if your paying a large spread ala options. Congrats -- you da man.
Looks like you are so numerically challenged you do not realise that 33% decline 3 times in sequence on current balance does not amount to a 100% loss. Do the maths. Start with 100000, loss 33%, repeat with balance, loss 33%. Do it again. What does the final drawdown come to? 99 or 100% in your head. Sorry, either way that is VERY wrong! Do enroll for a basic arithmetic course! And talking of probability of that happening. Two of such drawdowns in 24 weeks. Average 1 in 12 weeks. Three times in a row. Probability is 1 in 1728 weeks (33 years!). Yes it can happen in the next 33 years after taking the account to billions (at current run rate), while you sit and watch. And for your information 3 in sequence is a drawdown of about 70%, not 100%. Add basic Probability theory to the list of courses you should enroll in.
I am not congratulating Neke yet, he hasn't reached his goal, however, I am very impressed. It is interesting to see his blotter and look back at his decisions. Thanks and 'good luck' Neke
Actually what I find amazing is the intolerance and lack of appreciation for different styles of trading and different risk tolerances. These concerns were raised much earlier in the thread and addressed very well by Neke. He demonstrated with his explanation that he is fully aware of the risks of his approach and is probably more well-versed on what size of drawdowns to expect w/ his style of trading than 98% of the people on ET. No one in this thread, other than Neke, has any grasp of his complete financial situation, yet many feel compelled to repeatedly recommend that he stop trading, forget his goal, take larger/more-frequent withdrawals, etc, etc, etc ... ad nauseam ... Give it a break. Neke has set a goal and is well on his way to achieving it. For reasons unknown (but much appreciated), he has decided to share this journey w/ us despite having to endure one of the least supportive climates (some exceptions noted) imaginable here on ET. And share it openly & honestly w/ all the warts included. How many of us would be willing to share these drawdowns, knowing the barrage of disparagement that awaits? Instead of all of the posers on ET who pretend to make money or the buy-and-hold crowd who have no clue what trading means or the steady stream of prognosticators who try to impress w/ prescient (not) mkt calls - here we have someone regularly making profits - and he gets a steady stream of criticism ... I suggest that if you are uncomfortable w/ his style, approach, drawdowns, results, etc - that you simply read other threads or look inside yourself for the issues to be resolved. R