2011: Rebuilding My Battered Account

[00009]

Quote from guy990opl:

Couldn't agree more with the above post. Neke's journal is the best.

He is the real deal and he has big brass balls, it's a pleasure to wait for the weekend and read his updates.

I second that. Every Saturday one of the first things on the web is to check Neke's journal.

He's aware of his flaws and there is no point in giving him advices to change. Like he doesn't know when he is emotional or having too big risk on. He is doing what he can, he would do it otherwise if he could. We can just sit and watch, like we would watch some athlete in sports.

 

[illiquid]

Quote from spd:

Re-read what you just wrote. 12k/day is modest? Are you trading out of pure compulsion right now? How much do you need to make a day to feel good?

If you can net 12k/day only 3 days a week you can scoop up 144,000/month. Wouldnt take long to rebuild your account and then some at that rate.

Your account is "battered" because you are greedy and revenge trading. Im tickled to death with 1000/day and you are pissing on 12k?

Neke has one thing going for him, he's not afraid of bigger numbers.

But without an edge that advantage becomes a huge detriment. He focuses on high-flying earnings stocks purely for the volatility, the possibility for the "big winner", without understanding exactly where his advantage is in those situations as an individual trader. He is hell-bent on recovering past losses as quickly as he can and is willing to give up the rest of his capital to do so, instead of regrouping, rethinking, retrenching, building it all back slow and steady.

Neke, one way or another you will eventually do the right thing: think and trade smaller. It's up to you whether you decide to do it now by your own volition, or have the market force you to by gutting your account further.

 

[illiquid]

Quote from leonarda:

isn't this exactly why so many of us like watching Neke, that's the way he works and likes to trade. Most of us wouldn't trade like this as it's far too risky, but it's great to watch someone who does, he'll either be bust or a millionaire in a couple of years, either way we'll have had some great entertainment...

Unfortunately, anyone who's ever built up a decent amount through trading blows it out exactly the way neke is doing here. It's nothing unusual or special.

 

[Wilt]

I have faith in Neke. He's ok with the losses he suffers. He's ok with the big gains. He'll be back. His account peformance may be cyclical to an extent. I've noticed it in mine. I knock the ball out of the park in 2nd and 3rd quarters because 1st and 4th have a lot of abnormal bullshit that happens due to money allocation and dying volume in December. The market trades erratically during crises. It doesn't mean his strategy which has performed very well over time is invalidated. He'll rape it when it trades normally. Neke will be fine people.

Wilt

 

[1flyfisher]

This journal is a good example of the seriousness of Gambling Addiction.
http://www.gamblersanonymous.org/

 

[Shagi]

Quote from Wilt:

Neke will be fine people.

Wilt

He says he is rebuilding his battered account. What is it he is doing that is different from before? He first has to rebuild his confidence and the only way to do that is over a series of trades his equity curve should be going up - there is no other way.

Otherwise its all in vain, he will not be fine don't fool him his account will soon be empty. Anyone who loses that kind of money is damaged goods and clearly he is doing the wrong thing over and over again and makes no sense to continue on the same path. If he continues on the same path his emotions are confused between blind arrogance and determined never give up attitude.

My only advice is he should stop trading and take a sabbatical leave for as long as necessary or just throw in the towel. Its no shame because its not everyone's calling to be a trader just like it is to be a nurse, soldier, engineer or any other profession.

 

[rallydog]

Quote from Wilt:

I have faith in Neke. He's ok with the losses he suffers. He's ok with the big gains. He'll be back. His account peformance may be cyclical to an extent. I've noticed it in mine. I knock the ball out of the park in 2nd and 3rd quarters because 1st and 4th have a lot of abnormal bullshit that happens due to money allocation and dying volume in December. The market trades erratically during crises. It doesn't mean his strategy which has performed very well over time is invalidated. He'll rape it when it trades normally. Neke will be fine people.

Wilt

I have to come down on Wilt's side on this. I've watched Neke pull out of much bigger jams than this so no need to freakout. It's Neke's world we're just living in it.

 

[HeSaidSheSaid]

trade smaller


it seems you don't take very good care of entry price

 

[ben 12]

Neke Ive been following you for a few years now id like to know if you have a twitter where you might talk about your trades real time

 

[newguy05]

just let the man trade...

Enjoy reading neke's journal.

Scrolling through pages of crap to find neke's post, not so much.