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.

Thursday, February 17, 2011

EURJPY -price bouncing off 21ema + 38% fib 4H

- price been rejected by 21ema + 38% fib
- entering with smaller lot
- my last entry for today hehehe
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edited: 7pm Fri
- price bounce down, SL hit -35pips
- no trade when channel is closing in
- should take out popit conservatively, when pin bar formed at 4H
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EoW Review:
- the entry should hv been at the beginning of the week
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