Closing Liquidation Value: $1,030,208.72 + $18,008.3 (+1.8%)
Up four days in a row, hopefully this trend continues. Obviously I'm not happy with only a 3% gain at the halfway point in the competition, but I can't complain. That's an annualized 43% gain after all. Naked calls on STT was the only sore spot for today but I'm not too worried about that position. The robot actually alerted me to this stock which I think is a great short here. How is everyone else doing? I know you guys (and gals) are reading =).
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I botched the start of the competition by being too eager to get into it at the very first minute when I knew conditions were wrong for my strategy. Anyway, it has taken four weeks for me to recover from that mistake. At the beginning of this week my program was holding the same position from the first day of the competition and had followed the asset down to historic lows. I was over -$550k down (unrealized) at that point but a miraculous rally during the rest to the week led to a realized profit of $150k by Friday. Current net liquidation value $1150k.
The first four weeks have been a wild ride... :)
Hey Baxxor, that's fantastic! With a 15% gain you are definitely in the running for the top ten. Last year I took a big hit at the beginning as well and was able to come back from -40% to end at +40%, so its definitely worth not giving up.
So you you owned an equity that was making historic lows, some bank stock i assume? Any hints about your strategy?
I'm just trading currency pairs. My program bought into one currency pair and held onto it for 4 weeks. Its price crashed but I estimated the risks well enough when I wrote my strategy and managed to get through the crash without any margin calls. I think my strategy is called a pullback strategy. Wait for the price to collapse, buy, and then hope for a pullback to sell. Of course things can go very wrong so you have to understand the risks.
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