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That is so true! I was paralyzed for awhile after my last failure. I was so paralyzed and disoriented that I scaped my whole strategy. Now looking back from a fresher mindset, I realized the assumption behind my strategy was sound and that my mistake was just getting overly aggressive...

http://www.cyberthing.net/video-clips/174/Famous-Failure.html

Get your job back! :P Sorry, I had to say it because it is a correct thing to do for a trader---cut your loss short, and let your profit run. Sincerely, Pension_Admin

It's good to read it, but it's bad to follow it.

We should stop calling him Tim. It's really offensive and degrading. Put yourself in his shoes, if someone call you Tim Sykes, how would you feel? :(

A trend = a continuous imbalance of supply and demand causing price to go generally in one direction. A countertrend = a time period in a trend where price direction goes opposite of the direction of a trend A countertrend could be identified by comparing it with reversal signal. If...

My prediction for gold

fluttrader, Thank you for pointing this out. Your advice will prevent disaster from happening to new traders. You have just save the lives of the people who follow Tim's strategy. Tim and his victims will forever be indebted to you. Sincerely, Pension_Admin

SHORT!!!!

Accounting is a good major. There are plenty of jobs for accountant and it align with the objective for getting an MBA. (something to fall back on)

I just want to let you guys know that I am still here trading and that my family is very safe. <3 :) The guy should not have been trading in the first place. This is an example of why people need to learn to trade using a small account first before starting to trade a large account...

Taking out a student loan to daytrade was a risky move you made, but I am glad you have worked it out and that you are in a better position. Life would definitely suck living under the bridge. I hope you have reconciled with the guy who have showed you how to daytrade. There aren't many...

Is Tim really harmless?

People need to know that the market is a sucker's game. The biggest suckers are the general investors and in a way, they are the biggest driver for mutual fund actions. Hence, when someone play in the small caps game, the suckers are no longer there. So, if someone don't know who the sucker...

VictorS is right. We should let this journal unfold. Tim, good luck with your trading! I truly hope that you will make a come back! Sincerely, Pension_Admin

I don't know if this is true, but I heard that Tim Sykes ran his fund from millions of dollar to just $12k. Could someone please confirm?

My analysis is based on the most recent price action. By the time I wrote out my complete analysis, the direction of the market may have changed.

Yep, what they used to call bucket shop now is termed forex broker. :P Seriously, a lot and I mean a lot of things are still the same. The book talks a lot about stock behavior which is the product of human behavior, and that human behavior tends to stay the same.

4DTrader, thank you for the explanation, but I am still wondering why he didn't choose Reminiscences of a Trader instead? "Trader" seems like a neutral word. Pension_Admin