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.

Wednesday, February 16, 2011

USDCHF - Buy Limit at 38% fib

- price breakout off 1H TL and retrace back down. This can be BO or false BO.
- this shall be my last OP of the day hehe, insyaAllah...
- Buy Limit at 38% retracement.
- SL just below 55ema AND 50%fib
- R:R a bit more 1:1
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- OP just triggered at 11:33pm
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- it was a false BO, price retrace to 100%fib hahaha, tail touching 300ema
- SL hit -35pip
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edited: 10am Thu
- price went all the way to fib 138% below hehe
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EoW Review:
- the PA setup was not there, it was a DT
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