The worst of 2007. This year marked the closure and the ending of a dream...Ascend investment club. The club started with a lot of promise 2 years ago with the dream of building a small stake into a 7 digit account but like all dreams and wishes, some will go unfulfilled and die in our memory. It was a grandeur idea with some friends to ride the gravy train (that was my trading) and jump off before it stops. However, right after it started, I went deep down to a deep freeze called drawdown…that trader's illness that happen in all of us. A few losses turned into more losses as we/I tried to force results and discontentment led to withdrawals and loss friends. By the time it’s over, I just decided to cut my losses, cough up the club's losses and return the original amount to each of members. I learned my lesson, chalked up a few more rules to live by, reduced the number of my friends, and started over. And I'm sure they'll be madder as hell when they learn that they just jumped out right at the bottom...just when my returns started to accelerate.
The best of 2007. There are many great things that I am thankful for.
My loving family. Friends who have always been around through good and bad times.
A great turn-around in my trading result as I have dug my self out of the previous year’s sub-par return and finished this year with incredible result. And if my memory and my trading history serve me right, I have just started another great run that could last for years. Since I have started trading I have to 2 great runs and 2 lean runs. Lean run is a year/years of sub-par returns (under 100%) in my main trading account which I sometimes call drawdown. Great run is year/ years when I have multiple 100% return for each of these years.
This blog and the trader friends from all over. For some reason that I completely missed, this blog picked up readers this year. Emails of thank you, questions about trading and a few f..k you email piled up my email-box . I also had the privilege of virtually meeting many traders/ friends from all over the world. And who would not be thankful for Wallstreak?
Leap-forward Capital Investment. After my Ascend investment debacle, I decided to open another LLC account with myself as the major partner and 2 other friends who did not want to withdraw the money from the club as minor partners. This was very important for me because I have always believed and said that I can start and rebuild my portfolio with a small amount. So on September 24, I have opened the account with $17,500 of starting capital. The account balance stands at $46,325.70 at the close of the market today. As I look forward to my future, I'm closely moving to the area of professional money management (ala hedge fund) and this will be my benchmark and my training ground.
Focker. The traderbot that is half done. Even thought my coding has not been completed for this traderbot, the results that it has posted in the last 10 weeks that I have it running are impressive. It returned a very impressive $3,700/week for $25K of capital ($50K of buying power). And with this, a new vision is dancing in my mind….multiple clones of Focker running in every capital market printing money for me while I’m in my own island happily retired.
Have a happy new year!!!