Take a closer look, it's very helpful for both of us! Jiang En had two major bankruptcies in his life (as well as multiple bankruptcies/severe losses), as recorded in mainstream historical records and later research (including interviews with his son): 1. First major bankruptcy: 1908 (age 30) -Just arrived in New York as a broker, frequent trading, heavy positions, and no strict stop loss ​ -Caught up with severe market fluctuations, almost lost all principal ​ -This failure led him to systematically study time, price, stop loss, and trend, forming the early prototype of Gann's theory 2. Second major bankruptcy: 1930s (mid to late Great Depression) -Although he successfully predicted the Great Depression of 1929, he prematurely bought the bottom and went against the trend by adding positions during the decline ​ -Without setting stop loss and blindly believing in one's own "time cycle/mathematical prediction", the account is completely cleared again ​ -Afterwards, he shifted his focus to writing books, conducting training, and selling information, and no longer engaged in large-scale proprietary trading 3. Late years (1940-1950s): sustained losses, account zeroing -Many sources say 'third bankruptcy', but more accurately: ​ -In his later years, he became addicted to metaphysics, astrology, geometry, and mathematics, detached from the actual trend ​ -Repeated heavy positions against the trend without stop loss, resulting in losses in all four trading accounts ​ -When he passed away in 1955, his estate was only about $80000 to $100000 (including property), not a huge fortune 4. Additional: Multiple liquidation (minor bankruptcy) -Industry and Biography: About 40 Explosions in a Lifetime ​ -In 1913 and 1919, a large amount of funds were lost due to the bankruptcy of a broker ​ -Multiple large withdrawals due to listening to news, emotional reactions, and overconfidence