My position sizing for my discretionary trades are discretionary. That is where the problem lies. Like you suggested I shall try and use a formula based on the stocks expected volatility (for me that depends on % move over prior-day's and the market cap or stock price). I will probably keep it simple for now and use just the overnight % move on the stock. Eventually I will let my system determine position size for even my discretionary trades - if I am away from home, I will route my request for trades remotely to my system at home. Any trade the system detects that was not routed thru it would be immediately closed. I haven't just found the time to automate a lot of the things I would like to automate.
That is laughable. If you think this is smart money management...you know little about trading. Losing 30,000 in one month over 30% of ones capital is not managing risk well and protecting ones capital Neke will be up 200% but will lose that 200% over time. He is simply gambling.
Go start your own journal for proper trading, taking 76k to 80k. How do you go from 76k to 500k without taking on huge risks? If neke is going to put tight stops on every trade, he'll probably be at an enviable 10% RoR right about now. People like you can't accept the fact there are people that will try to make a homerun and will actually make it. I'm not one of them but I have seen people that go for it, not just happy with the daily $250 profit. The fact is, you're not neke and you're jealous so you wish him to go broke. Well, you're not the first one nor will be the last. Sorry to see Neke keeps disappointing you guys.
Nekke, Sorry about the loss dude but you give it a go and I love it more balls than me keep it up. Cheers
trading is, more or less gambling. That doesnt mean you cant have money management in place. If you think the great poker players like Jonny Chan, Chris Ferguson, and other icons dont use some type of risk management, you're wrong. cm
You obviously just don't get it. You have difficulty dealing with reality and need to fabricate ridiculous notions such as people wanting neke to fail. Perhaps it is just immaturity and childishness on your part with an ignorant response of that nature. If that is the case I advise growing up a bit. I DO NOT WISH neke to fail so no need to try and use that as an exuse for the fact that he is setting himself up to fail over time. I believe you simply do not understand very much about trading and what a successful trading system requires. Unrealistic expectations are a negative psychological impediment for any trader and trading system. Having expectations of Making 500+% year after year returns is not going to happen. Over time the money will be lost because it is a poor trading system. That is not a trading system that is designed to succeed. Sorry but that is the reality and truth. Part of being a skillful trader and not succumbing to self defeating psychology is having REALISTIC expectations and One of the first and most important aspects of setting up a successful trading system that can be depended on to return profits consistently requires having realistic goals. What neke is doing is gambling, spins of the roulette wheel. Good luck though I hope you (neke) run the table and make it to $500K. Like any other gambler that doesn't utilize smart money management the $500K will be returned to the house in time.
What Neke is doing is more akin to counting cards at blackjack, then spinning a roulette wheel. He has an edge, and while he has had some set backs, he's done a fine job recovering from those losses. He is risking what he is comfortable with, and that's all that really matters.
So what is a reasonable return for a sharp trader practicing good Money/Position management..?? Also for Neke.. based on your year there must be a risk management level that won't stunt the homeruns. while reducing the drawdowns...
neke IS going to make his/her 500%+ return this year. NO DOUBT ABOUT IT. He is going to tell you about a lot of BS trades...PS...(he will tell you about all the great trades he did and how much$$$$he made and lost). Guess what they are ALL BS. neke is looking for self actualization. The reason he posted his trades and started his journal is because he wants you to like him and take an interest in him. He wants you to ask him trading questions like , "Neke what stocks do you like"?\? Neke do you think this is a good options position. Neke I am a just another net trading goober that isn't capable of doing any hard work and research what should I buy. NEKE I am another internet idiot that has just discovered the financial markets......can you give me an easy way of making $Millions of Dollars...all ,I have is $10,000 to trade with. NEKE is an internet individual that needs self actualization posting on internet stock message boards. DO YOU LIKE NEKE? NEKE wants people on this board to take interest in himself and what he is doing. My opinion is that Neke: Has no idea what a successful TRADING SYSTEM is. HE Has no idea about using Stops and protecting losses. He will LOSE anything he makes.
1flyfisher - for someone who thought up all that surely you need more attention than neke does. flyfisher the attention whore. Awww... poor thing, mommy didn't give you any hugs today? go away. reply to this if you want, you're on ignore. Life would be so much better when you stop being jealous of other people and make something of yourself.