He is many Star Trek fans favorite Captain because of his combination of class, wisdom and wit.
This particular statement was spoken to the Android Data who was failing in his attempts to be more human.
Tim has found this encapsulated his early trading experiences to a tee.
Early in Tim's attempts to be a profitable trader he traded index .
He had his strategy and was paper trading. He would get four or five winning trades in a row.
He felt he knew what he was doing and felt he was ready to try real money.
So the next trade setup he took on his real money account and lost, so he returned to paper trading.
This cycle repeated itself several times.
Losers are part of the statistical game in trading.
If he stuck to the real money account those paper winning trades would have been real money winners.
These winners would have easily offset the losers.
The whole time he felt he was making mistakes. If he did it right it should have been a winner.
Understand this, you can get all the rules right and still lose a trade.
That's ok, that's life. That's trading.
Trading is never a sure thing, it's always about statistic and probability.
Just because you had a loser doesn't mean tht you did something wrong.
Just because you had a winner doesn't mean you did everything right either.
The important thing is to follow your strategy rules, your trade management rules, your risk management rules.
If you followed all your rules then you did it right, winner or loser.
Trading Maxim's help control your emotional impulses and keep you on the straight and narrow path.
A maxim is a general truth fundamental principle, a rule of conduct or a proverbial saying.
The purpose of Tim's Maxim's is to motivate you to discipline and trading as well as other areas of your life.
We suggest that you start your own list of Maxim's.
Things you can say to yourself while you are trading or doing life to make sure you always do the right thing.
Feel free to borrow from Tim's list.