constitution

My FX CONSTITUTIONS
I am a PROFICIENT, DISCIPLINED and PROFITABLE TRADER. I enjoy trading to make a profit. I honour the responsibility I have to myself and to those who are watching and depending on me to be such a trader. I continue to educate myself on how the markets work and I also continue to educate myself on how the mind works so that I incur the necessary discipline to execute the right actions for my success. I know how to determine market direction and I have a simple trading methodology that has an entry and two exit strategies, one for profit, one for loss. My trading methodology feels comfortable to me, is easy to understand, obey and execute. I have a set of trading rules that make sense to me and I obey those trading rules. I always trade with a protective stop. When I find a trade, I create that trade and trade my plan. If my currency of choice does not fit my trading methodology, I look for another trade in another currency. If I cannot find a trade, I am patient until the market meets my criteria. Each trade either wins me pips or lesson or experience.

Tuesday, February 15, 2011

AUDUSD Pin-bar tails at EMAs






- entry purely based on Pin-Bar tail at 55ema 1H AND tail at 21ema 4H, price closed below 150ema 4H
- SL at 4H s/r; 55ema; 50% fib (4H tf)
- R:R 1:1
- prevailing DT 1H

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edited: 930am Tue
- red news AUD push price up to 1.0050~ but stop by TL 1H, 61%fib and 200ema a bit above.
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- TP +10pip due to TS
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EoW Review:
- the entry would have work out to R:R of 1:2
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