Dear diary,

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.

Dear diary,

So bulls just don’t want to give up. I can’t remember when did I start hearing or reading about ‘We are overbought‘, ‘We are deeply overbought‘. Right now, the market proves again my own philosophy , ‘High will get higher, cheap will get cheaper‘. So, next week we are going to see profit taking, so next week we are going to push the index further, or so now we are really super overbought…argh…WHO CARES? I don’t care.
There was no trade that got away today. The only low risk dummy setup was NQ trade which I managed to got in with 2.09-R gain. I need to be confident with every trade I made. My own judgement is the best thing I can rely on when I am trading.

It is Saturday again. I am going to catch a movie later, and maybe visit the latest and biggest mall in Singapore Vivo city. I will forget everything about trading today. Time to relax.

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.

Dear diary,

It was an interesting day. All indices in my watchlist were having opening gap down. And….you know, I thought they might be a couple of short trades. It went up and filled the gap.

The only potential candidate was NQ. I was watching it closely when it moved above OR(opening range) and above Fib extension., but, you know, no dummy setup. There was another type of entry, but I left it out. I will post the chart in the ‘Trade that got away’ later.

Arh…another plane crashed into building again…but it was not related to terrorism (hopefully) according to reports.

Time to pop in some multi-vitamins again.
Thanks to the illegal fire in Indonesia, I am getting more and more health conscious now.

Dear diary,
It was another choppy day. The market failed to con me for another trade as I was being strict on my entry now.
Looking back at the chart, I would have jumped into the YM trade again. Well, the setup was formed, and I did not know what was going to happen at the right side of the chart, so I placed my stop and …that’s it.

To be frank with you, I was not worrying about the trade went against me. My worry was “Will eCBOT exchange down again?” Seriously, I am kinda lost confidence of this “well known” exchange in the world. Small account trader like me, I have limited ability to hedge my position at CME. In 2006, I still need to worry about computer system down? That’s a shame. Well, forget it, just a random thought, there is nothing I can do if I still wanna trade YM.

I always have a thought that my fiancee will be a better trader. She is a lady with courage and patience. A lot of times in life, she is the one who holds me from making impulsive decision. I will be giving her a headstart in spot FX trading now, and some simple TA (well, after all, I am not a pro). Who knows, I can quit trading and write a book ” My wife, the trader” later. 🙂

Another day with full of random thoughts. The market keeps hitting me with small snow balls recently. My snow-wall is still strong enough to handle these for now, and I will get a chance to return a big smash back.