Dear diary,
After getting stopped out in YM trade, I stopped trading for the day since it was around lunch time. I continued drafting my business plan.
Market ran way without me in the afternoon. I have just posted charts in “Trades that Got away“. You know , there were 5 of them, and I didn’t get any of them! oh well. What do I learn from this? There is no problem with dummy trading, one should not complain about a trading style, instead, the problem is with THE trader himself. Ok, market condition might affect my performance, but that’s not the main cause.
My recent trading performance stalled, and it is longer than I expected. It is a psychological challenge rather than financial damage. I should pat on my back for controlling my losses to minimum. Instead of sinking into deep thinking all the days, I am spending my time to really write down my trading business plan in details. Yup, in great details. I know, as long as I can get through this bad period, I will be stronger when good days come.
I just need to continue my dummy trading, strictly follow the rules and setup that I have written down. The rest, I will leave it to market.
Alrite, it is time for me to pop in multi-vitamins again.
Gav,
It’s good that you are keeping your losses to a minimum, especially when things start getting rough. It is also good that you have the patience to wait for the setups – one of the most common things a trader does is they start trading recklessly when they are in a trading slump (I’ve fallen victim to that many times 🙂
Your patience and dedication to following your rules will keep you out of trouble and the markets will reward you soon enough.
Good luck and happy trading!
JC
Gav,
It’s good that you are keeping your losses to a minimum, especially when things start getting rough. It is also good that you have the patience to wait for the setups – one of the most common things a trader does is they start trading recklessly when they are in a trading slump (I’ve fallen victim to that many times 🙂
Your patience and dedication to following your rules will keep you out of trouble and the markets will reward you soon enough.
Good luck and happy trading!
JC
JC, Thanks for your comment. I have just came back from your blog. After experiencing the bad days recently, I can really understand the importantance of money management. I need to make sure I still have ‘bullets’ when good days come.
All the best to your trading.
Gav
JC, Thanks for your comment. I have just came back from your blog. After experiencing the bad days recently, I can really understand the importantance of money management. I need to make sure I still have ‘bullets’ when good days come.
All the best to your trading.
Gav