timsk Throws in the Towel (but clings on to the facecloth) . . .

[JTrader]

How does he know though, really?

He doesn't. Timsk doesn't either.
But the idea is to build him up a bit when he is feeling abviously a bit down about his current situation. Not stick the boot in!

Still, at the end of the day its only money.

Thank god its not cancer! all the money in the fed wouldn't be much use then.....

 

[tomorton]

Tim this is terribly sad news.

But I see you're not on the floor as you say you will dabble in EOD stuff - absolutely the right attitude in my opinion - trading is much harder than many business activities because it is such a free field - you can do what you like when and where you like, and no two traders will approach any day the same way, even if they share a common methodology.

Obviously, a greengrocer simply has to buy fruit and veg and sell it at a given % above his overheads to be a happy man. But a trader has to decide what sort of business he wants to run every single day (especially traders who don't hold overnight: this works for many people but it is like evening you close down your greengrocery business and next morning you commit yourself to opening up a hotel or a widget factory).

There is definitely a trading style out there for everyone, and the upside is that there are so many styles that you will find one as long as you keep at it.

On a general point of advice, it is almost always best to focus on what works, and not get too involved in the things that didn't work. You only need to find one thing that works, not all of them.

 

[ceydababy]

Sorry to see you go Tim. However, why did you nominate yourself as a T2W ADVISOR if you can't trade ??? Surely an ability to trade profitably is a prerequisite.

 

[PitBull]

Sorry to hear Tim, all the best with your new future.
I believe whats BSD was referring to was Adrienne Toghraie T R A D I N G - O N - T A R G E T - home

 

[FXSCALPER2]

Sorry to see you go Tim. However, why did you nominate yourself as a T2W ADVISOR if you can't trade ??? Surely an ability to trade profitably is a prerequisite.

Makes you wonder, eh?

 

[dilesh23]

Timsk sorry to hear about this, i hope you still plan to come to the dinner which i plan to organise for the new year, which i think you said was the best time for you , it can be like your retirement bash and hopefully by then end of the night someone changes your mind and it becomes a welcome back party until then enjoy the nights in watching strictly cum dancing with Mrs. Timsk

 

[timsk]

. . . However, why did you nominate yourself as a T2W ADVISOR if you can't trade ??? Surely an ability to trade profitably is a prerequisite.

Hi ceydababy,
You raise an important issue that needs clarification. The first point to make is that I never nominated myself as an advisor. The role was automatically conferred upon the members of a focus group set up by Sharky a year or two ago. True to say, I could have declined the role and, indeed, would have done just that IF it reflected trading experience and/or trading ability. However, it does not. Whilest it's desirable for T2W Advisors to be profitable traders, it's not a prerequisite. This is because the 'advice' relates to T2W the web site and not to trading. This leads into the second point which is to outline what a T2W Advisor is. There are three main functions which are:
1. To help with the smooth running of the forums.
2. They are tasked with helping newbies.
3. Reporting offending posts and providing private feedback to the T2W Leader, Staff and Moderators about how best to improve the site.
As you can see, my ability to execute my responsibilities as an advisor are not linked in any way shape or form to my abilities as a trader. I repeat, if they were, I would not have accepted the role.
I trust that that clarifies the situation.
Tim.

 

[Joules MM1]

I always assumed that the term "advisor" meant advice for (and about the) trade2win site and not trading advisor .....

 

[searchlight]

Hi ceydababy,
You raise an important issue that needs clarification. The first point to make is that I never nominated myself as an advisor. The role was automatically conferred upon the members of a focus group set up by Sharky a year or two ago. True to say, I could have declined the role and, indeed, would have done just that IF it reflected trading experience and/or trading ability. However, it does not. Whilest it's desirable for T2W Advisors to be profitable traders, it's not a prerequisite. This is because the 'advice' relates to T2W the web site and not to trading. This leads into the second point which is to outline what a T2W Advisor is. There are three main functions which are:
1. To help with the smooth running of the forums.
2. They are tasked with helping newbies.
3. Reporting offending posts and providing private feedback to the T2W Leader, Staff and Moderators about how best to improve the site.
As you can see, my ability to execute my responsibilities as an advisor are not linked in any way shape or form to my abilities as a trader. I repeat, if they were, I would not have accepted the role.
I trust that that clarifies the situation.
Tim.

I always took the advisors role as you explained. That is why; yesterday (or the day before) I voted for you as the most helpful member. But if the ampro comes up with the post like yours i would feel very silly and embarrassed for my vote for the member for most valuable contributions. Thank god voting is anonymous .

searchlight

 

[Joey25]

Makes you wonder, eh?

I've only just realised that chaps with 3 diamonds under their names tend to be useless at trading - and nasty to boot

 

[Mr. Charts]

A great and sad loss to this site, timsk.
Your level headed and helpful approach to members added considerably to the quality and zeitgeist of the site.
I'm sure those members who have expressed doubt about your role as advisor are perhaps ill advised and do not mean anything negative
Richard

Please continue to post when you can.

 

[Paul71]

JTraders’ ‘Tell the Truth … RU Even a Net Winner?’ thread is the latest in a series of threads posted by members experiencing problems with their trading. Well, here’s one more to add to the tally. Hopefully, it will be the last and then everyone can start making some money!

I left full time employment at the end of Oct’ 2007 to become a full time day trader of U.S. equities. I went ‘live’ with real money in April this year and, since then, I have done over 1,000 trades. I’ve had profitable days, profitable weeks and, even, two months where I made a gross profit and one (but only one) in which I made a small net profit. However, there’s no escaping the fact that the equity curve is in the twenty past four zone. Hard as it is, I have to face facts and accept the unpalatable truth that I’m flogging a dead horse. I can do okay in a competition trading virtual paper money and I can ‘talk the talk’, but the plain fact of the matter is that I can’t ‘walk the walk’ with real money.

Rather than suffer the ignominy of losing all my capital through a death by a thousand cuts, I’ve decided that enough is enough and to cease day trading as career from today. There’s sufficient capital left in my account to put towards re-training or starting a ‘conventional’ business. (Any ideas on that front gratefully received). My wonderful and long suffering wife has been the only bread winner since I left full time employment and it’s only fair to her – and important to our marriage as well as to my own self esteem – that I do something that generates some income. And soon!

I don’t intend to turn my back on trading completely as it fascinates me and that would be a waste of the thousands upon thousands of hours spent studying charts, reading books and posts here on T2W etc. So, I will keep my hand in and continue to dabble with an E.o.D. strategy. Although there’s little evidence to support this, a part of me still believes that out there somewhere is a trading style and profitable strategy with my name on it. I’ve just yet to find it. That said though, through necessity, I will not be spending anything like as much time here on T2W as I have been doing. Therefore, I resign from my role as a ‘T2W Advisor’ and I hope sincerely that my efforts haven’t done anyone any long-term lasting damage. Lastly, I would like to thank all those members who have freely given me their help and support over the years. (You know who you are.) My failure in this business is down to me and me alone and in no way reflects the quality or validity of the great advice that I’ve received from the many traders who’ve done their utmost to help me.

Season’s greetings and good trading to you all.
Tim.

Tim, why did it go wrong, what was your true weakness? In retrospect, did you actually have any trading strengths, apart from the usual crap that is free in abundance on the internet and in bookshops?

Don't bother 'dabbling' with eod, you will be wasting your time again, go away and learn how to trade properly or not at all.

Don't listen to people on chat forums, they are full of sh!t!:cheesy:

 

[A Dashing Blade]

. . . I can do okay in a competition trading virtual paper money and I can ‘talk the talk’, but the plain fact of the matter is that I can’t ‘walk the walk’ with real money.

Bravest post since the 25k loser thread.

. . . a part of me still believes that out there somewhere is a trading style and profitable strategy with my name on it. I’ve just yet to find it. . . .

This is something I firmly believe.


Good luck.

 

[fibonelli]

One thing no one has mentioned is that Timsk wrote an excellent trading plan template which everyone can find on this site.

It's a real shame coming to this decision but is wholly understandable. The insane volatility is causing problems for many.

Good luck for the future. :clover:

 

[Paddington_Bear]

I don't want to be a pain, but this thread has really pissed me off -- hence a short post so I don't get all irate.

1. Timsk, you are a great guy. You have not failed in your trading; the only thing that has hindered your success is your application of yourself to the markets. I guess when we fly to close to the sun -- or in my case the EUR/USD recently -- we get burned.

I personally think that dropping this game is not the way forward; however, if it is causing personal problems it’s something you must do. Family, etc. come before trading!

2. A monetary loss is not a failure. I know plenty of guys who where good traders and do you know what they all had in common? They lost money. You all see money as a way of keeping score, however, I believe that the profit does not reflect the true nature of the trader. You could have the best system in the world, yet have trouble executing it due to emotions.

Money is not a score card, it is a by-product of playing a game we love. The real score is who we really are in the world -- Timsk, you’re a winner hands down.:clap:

 

[madharde]

Hi Tim, I don't post much on this site, although when I get the chance I do read a lot of your posts and have found them very informative. Good luck with the future in these very difficult economic times. I think even the best traders are having losing days/Weeks in these market conditions. Heres a quote for you:

"Many of life's failures are people who did not realise how close they were to success when they gave up." - Thomas Edison

 

[megamuel]

Timsk,

Unfortunately I've not been around here long enough to get to know you, which is a shame as it seems you have many admirers and are well liked around here. However, having read many of your posts and valuable input in discussions may I also offer my sincere thanks, and best wishes for the future. I hope everything works out for you.

This thread and the one by jtrader are a complete eye opener to me... I wrongly assumed that people with thousands of posts, lots of green and yellow dots, stars and advisors status' would all be profitable traders, and thats not to discredit anyone, I shouldn't have assumed! But its certainly suprising to know that so few profit from trading. I mean I never thought trading would be easy, but I had no idea that so few profited from it, especially some of the high profile members in here. It really makes me think whether I am cut out to succeed.... But anyway, I have promised myself I am going to give it a go and I am determined to succeed.

Timsk if I may ask, was it day trading you were doing? Do you think that trading on a longer time frame would help or not? Anyway, off to my crappy job in a bar!

Sam.

 

[rols]

Timsk congrats for exiting stage left before the trapdoor opened.

I now know personally two traders who have lost everything
yes - home dog and wife plus self respect

Knowing when to quit and climbing out of the mire of denial is an admirable quality, especially for a trader.

It's not heroic or brave, just practical.

After a few weeks of not needing to know what the FTSE's doing or having to watch numbers all day you may well look back at this day as the beginning of the rest of your life.

Yes your life ahead, a limitless blank canvas begging to be filled.

I feel a poetic quotation coming on....

Come, fill the Cup, and in the fire of Spring
Your Winter garment of Repentance fling:
The Bird of Time has but a little way
To flutter--and the Bird is on the Wing.

Ah, my Beloved, fill the Cup that clears
TO-DAY of past Regrets and future Fears:
To-morrow--Why, To-morrow I may be
Myself with Yesterday's Sev'n thousand Years.


From Edward J Fitzgerald - Rubaiyat of Omar Khayyam

 

[barjon]

Tim

I've been out all day and come back to see this

Brave decision. I'm sure you have given your 1000 trades the once over (several times ) to determine whether or not your approach is sound. If it is and the method horse is fit, then the jockey just needs a bit of confidence boosting and/or some mechanical aids to help. You'll be back and riding the winner of the Derby one day.

Whatever you do - enjoy.

jon

ps: as fibo reminds us - your trading plan template was a gem. Why don't you package it up in book form and sell it.

 

[Priceman]

Tim,

Very commendable of you to open up to total strangers and most will feel exactly the same because they aren't the "Uber-traders" they make out (me included here!)....but who's ever going to find out unless they admit it?! We're all just as embarrassed at the fcuk ups that we keep making.

I'm going to go contrarian here and say leave the trading alone for 12months, totally! Everyone else is trying to disect what went wrong but I'm sure you've done that one to death! If you do something totally separate you may come back forgetting a few of the things that hampered your success and do things that work. I firmly believe that you are having information overload from too much knowledge. You may not come back and think why did I do that for so long, once you've found a better way to spend your time.

You've been a loyal servant to this site and it owes you for your time and dedication and I hope Sharky can contribute something here for the whole community to see, as a token of gratitude. I'm assuming that he has probably contacted you privately.

All the best to you.