2011: Rebuilding My Battered Account

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Neke, not sure if you read these posts. I strongly advise you hold your money safe. 194k is good money, unless it's a small percentage of your net worth.

Grab 20k, open another account and keep trading.

The smaller size/risk will clear your head.
 
Quote from traderslair:

Stick to the plan. There's no other way.

If you succeed in sticking to the plan you CAN recover. If you won't stick to the plan you WILL lose more.

Thanks for your honest posts. Hope you get it back.
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You're assuming he has an edge...

Anyway, Neke is not going to listen to any of the sage advice that has been posted numerous times on his threads which is why his account continues to fall into the abyss. Heck, I posted this back in '09 when Neke's account was around 240K.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2438012#post2438012


I earlier commented that Neke is not a quitter and many of the unwise may have taken that to be a compliment. On the contrary, good traders abandon obvious losing strategies to focus on developing profitable ones...gotta know when to hold'em and when to fold'em so to speak...

I know Neke will never listen to any of the wise advice here which is what makes this a very interesting thread indeed.
 
Quote from monti1a:

You're assuming he has an edge...

Anyway, Neke is not going to listen to any of the sage advice that has been posted numerous times on his threads which is why his account continues to fall into the abyss. Heck, I posted this back in '09 when Neke's account was around 240K.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2438012#post2438012


I earlier commented that Neke is not a quitter and many of the unwise may have taken that to be a compliment. On the contrary, good traders abandon obvious losing strategies to focus on developing profitable ones...gotta know when to hold'em and when to fold'em so to speak...

I know Neke will never listen to any of the wise advice here which is what makes this a very interesting thread indeed.
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He won't listen to anonymous blowouts like monti1a and nakachalet? Imagine that.
 
Neke,

My advice will save you a lot of money. Do the following and you'll be happy at the end.

1. unplug all your computers.
2. withdraw all the funds from your trading account.
3. burn all the trading plans and strategies you have developed so far. they're not working, ok?
4. stay away from trading for at least one month. the longer the better.
5. after you've stayed away long enough to not feel much pain from this draw down, start fresh.
6. (this step optional) send me a check for whatever amount you feel is justified for saving your ass from add'l loss you'd have made had you kept doing whatever you're doing.

I dont mean to get you down when you're already down 40+%. But sometimes you need someone to smack your face to wake you up to reality.
 
Quote from monti1a:

I know Neke will never listen to any of the wise advice here which is what makes this a very interesting thread indeed.
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Wise advice? I suggest you re-read everything, again.
 
Quote from neke:

Weekly Update for week 36/50 ended 9/17/2011


Disastrous week, down 14K (6.8%).

Was positive going into Friday, up +6K for the week, then got smoked for a total of 20K on two option positions. Just haven't learnt my lesson on position size on expiration day. Got so demoralized I did not want to look over my statement or post here. Yes, I have dreaded going below the 200K mark, but here I come. Will be cutting size once again on my option positions, while I mull over this prolonged draw-down. Everything I touch at the moment turns to smoke, while the would-be good positions I do not even stay to reap the gains, or my system malfunctions at the wrong time.


Code: 
Opening Balance:                	208,425
Net loss for the week 		         14,178
-------------------------------------------------
Net Balance:                   		194,247


Since Inception of Thread   01/8/2011 - 9/17/2011

Opening Balance:                   	335,899
Net loss (Less Margin Interest)		141,652 (Down 42%)
------------------------------------------------
Net Balance				194,247

attachment.php
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Why do you even trade cash, it's clear you are lost.

Whatever you did in the past consider it luck.

Harsh, yes, but boy will it definitely save you the thousands you still got.

Suspend all cash trading, you don't have positive expectancy.

Crazy A
 
Money made gambling in the markets will be lost gambling in the markets + more.

Money made trading a sensible plan will grow quite nicely.

It truly is that simple.
 
Well, I hope you are still not using TD Ameritrade . You will go broke for SURE ..

I spoke to a guy that lost $1 million using Amtd .. They play games with the quotes and trade against you .. Just do what a previous poster said . Take about $40k because u need day trading power and open a new account somewhere else and start again ..

http://www.elitetrader.com/vb/showthread.php?s=&threadid=217005&perpage=6&pagenumber=3

Here is another guy that lost millions with AMTD but he was able to win them in Arbitration ... A WORD IS ENOUGH FOR THE WISE

http://stockmarketloss.wordpress.co...y-suspending-trading-account-to-convert-fund/
 
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