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The Guts and Glory of Day Trading: True stories of day traders who made (or lost) $1,000,000 by Mark Ingebretsen

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Chapter Four – Those Who Forget the Past . . . – Terry Bruce: Gap Trader

During particularly bad times – like, say, when his end-of-month trading account balance shows a $20,000 loss – Terry Bruce (a pseudonym) takes solace in the fact that even the very best traders have sometimes blown out their capital on their road to riches. And sometimes they’ve done it more than once. Bruce, 51, who makes his home in Seattle, has seen his share of spectacular ups and downs, too. Back in 1996, in just six months’ time, he grew a $75,000 account into $575,000. Incredibly, a little over one year later the account crashed to zero. And Bruce found himself living on a $14,000 personal line of credit. To get back into the game, he gave up his job, took out ...

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