JP Grunin: From $10,000 to $100,000 in 6 months.

Well that ended abruptly.

Running Total
Trade 1 = Long /NQ - Loss of $6119
Trade 2 = Long AAPL - Loss of $1827
Trade 3 = Short QQQ - Loss of $1950 (no updates suggest otherwise)

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Hope everyone learned something from this.
I'm looking forward to watching the next Grunin 'challenge'!
 


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[ame=http://www.youtube.com/watch?v=ENXvZ9YRjbo]Weezer - Say It Ain't So - YouTube[/ame]

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PS - Admins, can we get an edit on the thread title so the FTC doesn't hit WF for deception & false advertisement.
 
Going to assume one more time, given your lack of posting, that you're wiped out.

I ended my last post with stay disciplined for a reason.

The market is beautiful in that it teaches you a lot about yourself, the world around you, and other people. It doesn't care who you are nor does it have any favorites, it just does exactly what it's supposed to do.

The sort of obvious irony in all of this is that your ego caused you to think up and post this challenge for yourself, and it also caused your downfall. It caused you to post this challenge over on elitetrader even though you probably knew what would happen. It caused you to post pictures of your car within the first few replies (which are now removed, along with probably 50 other posts) and fight with someone over how much money you make, as if you had something to prove other than the challenge itself. It caused you to break all of the rules and guidelines you set out and said you would follow in your first post. It caused you to be undisciplined. You did, however, end up posting the truth as far as I can see so some credit there is due.

Pretty much all of the things you did wrong though have already been posted on elitetrader and in this thread so there's no sense in repeating it.

Just to be honest, and I may be wrong, this makes me question whether or not you do trade for a living. After you averaged in another 4 contracts on the first trade (which you added a couple more to later on, lower), then continued making textbook 'retail' decisions one after the other the following days, it's just suspect.

This is a valuable lesson people can learn from, but the one who will gain the most value from this if he chooses to accept it and improve upon it is Grunin.

I feel bad in a way about it, because I don't truly know what your intentions were - but if you were trying to sell people some BS later down the line, my job is done, and you did it for me. I hope you do learn from this.
 
Why not just play it safe and invest in S&P 500. At least you won't "lose" money as long as you hold onto your shares.

I'm up 0.25% today.
 
And here, stupid me, i'm in 1 year now on my real estate/house buying project and haven't lost any money at all, made around $150k-$200k in equity so far, $4.5k in net cashflow monthly.
 
And here, stupid me, i'm in 1 year now on my real estate/house buying project and haven't lost any money at all, made around $150k-$200k in equity so far, $4.5k in net cashflow monthly.

Impressive must get into offline biz soon.
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Tomorrow is ex-dividend day, so Apple should be expected to trade $3.29 below today's closing price which would bring it down to the $589 where it loves to bounce.

So, i was looking forward to this and seeing someone else trade but it looks like mGrunin's 2nd car crash this month!!

The above quote is something that stuck out as a big ????? For me. Why would you buy in a few hours before the close expecting the following day will drop $3.29? Why not wait and try to anticipate that bottom? (Not sure if that would work or could be done in this type of trading?).

As some people said with the first trade, he has deviated from his rules, plus clearly this challenge evoked too much emotion in his trades which is a quick way to the poor house.

If you start getting emotional trading you turn a skill into just gambling, so step away from the trading station!
 
Why would you buy in a few hours before the close expecting the following day will drop $3.29? Why not wait and try to anticipate that bottom? (Not sure if that would work or could be done in this type of trading?).

Because he didn't know about it until someone on the elitetrader forum mentioned it, after he was already in the trade.

htt p://www.elitetrader.com/vb/showthread.php?t=283831&page=29