It was not a strong day. I made a trade and scratched it 2 hours later as It failed to form the setup I was looking for. I categorized this entry as implusive. Yup, it was a valid dummy setup, however, in my trading plan, it would only got Long above a UP candle. Well, I broke the rule, I was anxious to trade. Darn.
I was lucky to realiase my own mistake and scratched the trade when it closed below 8-MA.
Few months ago, when I just started active daytrading, I read some great blogs like ugly, tradermike, tale of tape , Maoxian etc who are doing dummy trading. I read some good comments on dummy trading. These two months, well, I would say it might not as good as early of the year for dummy traders. So, now I am reading some negative comments about dummy trading now. Some fellows left some comments at uglychart.com.
Dummy trading is not a holy grail. Even the cat outside my house knows that. You wanna trade a system? then follow the system. Follow the system? that means follow it through good days and bad ones. Manage your risk, that’s it. Dummy entry is meant for trader who are dumb enough like me to join a trend. That’s all.
Ok, enough, just some random thoughts after reading some BS from people who didn’t even start trading dummy setup and putting in some silly comments. When come to trading, people always like to think too high of themselves. Be humble and shut up, cut the BS.
If you are too tense, go Wallstrip.com. Watch the video!
Let’s trade better tomorrow.