| | | |  | To those interested parties, here is a follow-up story on the Daytrade "HH" mentioned in the following posts. Couple of QQH messages asked me for some more details, and so happened that I got the latest update on this particular "HH". Therefore, here we go.
http://web.wenxuecity.com/BBSView.php?SubID=finance&MsgID=452183
http://web.wenxuecity.com/BBSView.php?SubID=finance&MsgID=452246
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After going down on separate paths in the past 3 years, I lost contact with this Daytrader. Following the trial project mentioned in the old post, the "HH" went on with his daytrading games with his own moneys and snowballed them to some sizable amount. His specialty was in futures and option contracts, especially on currency exchange between USD and CND. In any case, he saw the light at the end of a long tunnel, and he made it to the "shore". About a year ago (in the late fall of 2005), he officially retired and pulled his money out of the markets. He went on to do charity works for his other interest including his church and so on.
Well, however, this was not the end of his story yet. In the late spring and early summer of 2006, an outside investor pulled all the stops to convince this "HH" to come out of retirement and trade in an account for them. A mutual friend later told me that this "HH" mentally struggled for couple of weeks before agreeing to accept the responsibility. To make a long story short, after going through some roller-coaster rides before schools started in late August, there was about 25% left in the account and this "HH" was forced to his resignation. Afterwards, he felt so bad and terrible for losing much capitals for someone trusting him so much...
What is worse, was that his name has been placed on the blacklist within the community...
The merits of the story include
(1) knowing when to lock-in your profits and to stay on the sideline
(2) that a winning record can easily turn in a losing one
(3) that past glory does not guarantee future success
(4) etc. (you can come up with your own...)
When I heard this update, I feel pretty heavy for this person...
Happy Trading!!!
LK
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