Holiday Reading: MaoXian's Trading for Dummies Series

 

One of the Dummy Lesson charts

For those who used to read my old site you know that I'm a huge fan of what's come to be known as the "Dummy" style of trading. I wrote a lot about it back in the day. In my mind the tenets of that style are, to quote myself (there's a lot more detail over there):

  • Keep It Simple, Stupid (KISS)
  • Trade with the trend
  • Trade only active, liquid stocks
  • Define any risk
  • Manage risk by adjusting a stop loss order.
  • Always enter a protective stop loss order
  • Always trade with good reward-to-risk profiles
  • Have a well-defined plan and stick to it

At some point several years ago MaoXian re-did his site and the original lessons were lost. Well I've just discovered that the original 'Trading for Dummies' lessons can be accessed via the Wayback Machine. I highly recommend reading several of the trade examples / lessons. I still use concepts from those lessons all the time and that's partially why you'll see so many range contraction scans and alerts here on SwingTradeBot.com.

Published by TraderMike in trading tips range contraction

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