Friday, January 14, 2011

Neke from Elitetrader

Every Saturday last few years my weekly ritual is to check up how neke's week went by over at For few years neke is reporting his ups and downs (last year big down at start) in trading. It's not a smooth ride, lot's off problems with averaging, that's why I started to relate with him in the first place.
He opened a new thread for 2011. where he in opening post shared some of the facts that I didn't know. I took a screenshot of part that's really interesting. Apparently after being unsuccessful for five years slowly losing deposit after deposit in total of 54k until of Nov of 2004. At that point his account was at 5300$. Six years from then net stats are around 600k in withdrawals and 360k of current balance. All that from those 5.3k. Off course his prior trading and losses had educational value that resulted with that.
So this is pretty much inspiring for me to see how bad p&l can turn into the good one's after all.

I can also add that Oanda sent yearly update in which they state
As part of the new CFTC rules, retail forex brokers must publish every quarter the percentage of customer accounts that were profitable. At OANDA, 48% of customer accounts were profitable in the third quarter of 2010, and 44% in the fourth quarter. We had by far the highest proportion of profitable accounts of any U.S. retail forex dealer.

If there are indeed so many profitable accounts than it's a shame not being on that side.


Trader32 said...

Interesting post, thanks. It is always good to see how fellow traders have made money so will check this out.

4x For Life said...

I will try with you one more time, he definition of insanity is doing the same thing day in day out expecting different results. This year why don't you at least demo a different way?? Wishing you all the best..