2012: The Battle for Survival

[2sorh]

Quote from FreakofNature:

What if it's all a hoax ?

It's very likely that ET cooked up this hoax to attract readers. After all, readership is what brings in advertising dollars.

"neke" used to give entry and exit time of traders, and number of traders. One reader questioned how he could make those trades at those time due to his job. "neke" never answered it.

He never told anyone what his job is. The less information he gives, the longer the hoax will be. If "neke" told people his job is a 9 o'clock morning news anchorman, and he puts on some trades at 9:10, people would know he is lying.

Well, you don't know what his job is.

Recently, he only has to post profit or loss to generate responses. The pattern has appeared: When he loses, lots of responses and advice-givers pop up. When he wins, no response.

So, to generate responses (remember readership is what ET needs?), he will post more losses.

 

[bwolinsky]

Quote from 2sorh:

It's very likely that ET cooked up this hoax to attract readers. After all, readership is what brings in advertising dollars.

"neke" used to give entry and exit time of traders, and number of traders. One reader questioned how he could make those trades at those time due to his job. "neke" never answered it.

He never told anyone what his job is. The less information he gives, the longer the hoax will be. If "neke" told people his job is a 9 o'clock morning news anchorman, and he puts on some trades at 9:10, people would know he is lying.

Well, you don't know what his job is.

Recently, he only has to post profit or loss to generate responses. The pattern has appeared: When he loses, lots of responses and advice-givers pop up. When he wins, no response.

So, to generate responses (remember readership is what ET needs?), he will post more losses.

Neke is not a big enough sociopath for all this to be a hoax or is somehow engineered by ET Admin.

 

[southall]

Neke could be making this up, but i doubt it.
This thread doesnt get that many views for ET, so i doubt ET are involved.

The thing is that Neke keeps this journal up even though he is losing badly.

That is psychologically very hard to do if he is finding the losses very painful.

Therefore we can assume he doesnt find these loses are very painful. Either because he has a full time job, or he views them as previous profits he can give back. Or psychologically he doesnt find losing money that painful.

That is a bad situation for a trader.

One of the market wizards sums it up something like this (im quoting from memory). "If you dont find losses painful you are in the same position as one of those unfortunate people who dont have pain receptors and if they leave their hands of a hot stove it burns off".

 

[riffrafffpatrol]

Quote from PHOENIX TRADING:

Well yeah something always clearly works : in hindsight.

I'm talking about real time on the hard right edge...this is ONLY possible and realistic due to one reason and one reason alone-- short term trading strategies that have the trader flat at close. If you have an edge you will see the same setups intraday over and over -- in gap and run days, in gap and fade days, in tight choppy range bound days and everything in between... simply not the case however for swing and position trading-- general market conditions MUST be right long term for any prolonged period of success if one is not willing or able to adapt.

 

[PHOENIX TRADING]

Quote from riffrafffpatrol:

I'm talking about real time on the hard right edge...this is ONLY possible and realistic due to one reason and one reason alone-- short term trading strategies that have the trader flat at close. If you have an edge you will see the same setups intraday over and over -- in gap and run days, in gap and fade days, in tight choppy range bound days and everything in between... simply not the case however for swing and position trading-- general market conditions MUST be right long term for any prolonged period of success if one is not willing or able to adapt.

Yeah I know what you meant but, I was talking about reality.

 

[southall]

Quote from riffrafffpatrol:

Regardless of whether the market is in a range...a massive bull or massive bear-- there will ALWAYS be an edge for active day traders-- there are certain strategies that work ALL the time in the right equities.

Nothing works all the time.
You can make a 100 trades in this business and still not be a head due to plain old bad luck.
Ideally you trade several diverse strategies.
And pray they dont all take losses at the same time.
The burn out and churn rate among day traders is horrendous.
Neke is just one example of how hard it is.

 

[riffrafffpatrol]

Quote from PHOENIX TRADING:

Yeah I know what you meant but, I was talking about reality.

So am I. Again-- short term. Short term. It doesnt matter what the condition of the market is. There will ALWAYS be equities that intraday will offer the same setups. What kind of setups? Those that produce a statistical edge...that's the key. I see them EVERYDAY! I truly believe for overnight positions this cannot be said with any amount of certainty however.

 

[riffrafffpatrol]

Quote from southall:

Nothing works all the time.
You can make a 100 trades in this business and still not be a head due to plain old bad luck.
Ideally you trade several diverse strategies.
And pray they dont all take losses at the same time.
The burn out and churn rate among day traders is horrendous.
Neke is just one example of how hard it is.

I am not referring to trades working "all the time".

I am referring to setups that are always present REGARDLESS OF WHAT TYPE OF MARKET EXISTS... hence "all the time". Again again and again...the key is intraday. Why? Volatility plain and simple and being flat end of day. It is virtually impossible to state with any degree of high certainty for overnight positions...

 

[neke]

Weekly Update for week 24/50 ended 6/29/2012


Nice week, up 3.8K (2.9%) on 4 trades.

Opening Balance:                	130,620
Net gain for the week 		          3,759
------------------------------------------------
Net Balance:                   		134,379


Since Inception of Thread   01/18/2012 - 06/29/2012

Opening Balance:                   	203,729
Net loss 			        (42,350)(Down 21%)
Cash Withdrawal				(27,000)
------------------------------------------------
Net Balance				134,379

 

[riffrafffpatrol]

Quote from neke:

Weekly Update for week 24/50 ended 6/29/2012


Nice week, up 3.8K (2.9%) on 4 trades.

Opening Balance:                	130,620
Net gain for the week 		          3,759
------------------------------------------------
Net Balance:                   		134,379


Since Inception of Thread   01/18/2012 - 06/29/2012

Opening Balance:                   	203,729
Net loss 			        (42,350)(Down 21%)
Cash Withdrawal				(27,000)
------------------------------------------------
Net Balance				134,379

Neke this is ridiculous-- it's time u stepped up & posted your trades.