2012: The Battle for Survival

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Hey peoples! Please stop taking out your frustration on Neke. Neke is an honest guy posting his real weekly P&L for the whole world to see. His honesty and transparency are great leadership traits, which some traders might lack. He would definitely make a great compliance executive in any type of funds.

Let's cut him some slacks and just enjoy the journal.


Pension Admin
 
To the followers of this journal and his previous ones:

Did Neke ever interact with any of you or post anything beyond his results?

If not, I like others wonder what`s the purpose of keeping this public.

Kudos for being honest though, but it seems like the plug should be pulled a long time ago. The only way to reverse a losing streak is to actually stop trading.

Then, when you have stopped losing, you can start winning again with small size.
 
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.
More...

So based on your posts today, I guess you no longer think this is a hoax.
 
I think many people, as well as myself, actually feel better after posting their losses anonymously on ET. It is sort of a "confessional," where you don't have to face anyone you know. He also probably enjoys the popularity. However, it is concerning to see Neke's losses continue for so long. It appears he continues to fade stocks having large one day moves. Not a recipe for success, as most big movers tend to continue higher or lower throughout the day, after maybe a small pullback. I think many small traders, held Neke up as the model of daytrading success. It is probably easier to swing for the fences with a small account and maybe get lucky, than to manage a large account in a businesslike manner.
 
He had great success from 2005-2009 which was not just a fluke so he can be successful again if he adapts to what's changed since then. I hope it all works out and in the long run 2010-2012 will just be a blip on the radar. With over $100,000 in his account he still has plenty of time to make a comeback, but I hope he slows things down a lot to give himself even more time.
 
Neke says he has withdrawn 600K+ over the years.

Some of that must of gone to pay taxes on this trading profits (which he says were almost $1 million over 5 years, from a starting capital of about 5K).

However does he still have some of that 600K invested in liquid assets?

I ask because maybe he has 100 or 200K in reserves available, so if he blows this account to almost zero, then he still isnt out of the game?

And this would explain why he hasnt applied the brakes on his risk taking yet.

Perhaps in his mind, he still has a notional account much bigger than 113K?
 
$90,000 - 1 bottle of Chateau d’Yquem 1787
$2,000 - 2 hookers in Vegas for 2 hours at $500/hr
$2,000 - 1 pair of Stefano Bemer shoes
$1,150 - Gurkha Black Dragon cigar
$4,200 - a slice of Domenico Crolla’s “Pizza Royale 007″
$12,295 - Rolex Daytona Steel Watch
$1,355 - bet on black at Table 48 at Caesar's Palace

=======================================

$13,000


might as well go ahead and total it all out
 
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