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.

Monday, February 14, 2011

USDCHF bounce of 61% daily






- price bounce off 61% fib daily
- still doesnt hv confirmation frm 4H - price has not breakout from triangle or Inside Bar
- TP target at 38% fib Daily / 61%-74% fib 4H

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- closed at +30pip before maghrib time due to lack of confident price will go lower. also been in this trade more than 24hrs period.
- shall look into re-entry after retracement
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