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

EURJPY pin bar off 55/21 emas







- i wasnt planning much to open new OP this mrng due the red news day and already gotten 3 OPs opened.
- but JPY pair is weakening last few weeks and i see pin bar at bouncing off 55ema 1H (76% fib) and off 21ema 4H (38%fib).... so thats my entry signal..
- hmm.. am i a pip-a-holic, overtrading myself?

===
edited: 2:47pm
EJ hit SL at 112.85
=> price hit high112.96 (61%fib 4H)
=> need to give price enuf space move, higher TF is better to trade.
==
EoW Review:
- my analysis was plain wrong !!! against the trend, pin bar is showing going up, it was bouncing off 4H TL
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