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 21, 2011

USDJPY BUY - Pin Bar formation off 55ema 4H

- pin bar formation 3 cs earlier off the 55ema, 4H support, 38% fib retracement
- TP targeted at 423% projection of Pin Bar at 83.80. R:R is 1:2
- entry was at 12:45pm
- just realized USD is cuti today, so market is damn slow huhuhu...
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edited: 11:10pm Tuesday
- TP has been adjusted smaller to 261% fib projection of the blue pin bar
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- price broken the TL, it was DT, should be looking for Short only. It was Monday and market still looking for weekly direction.
- SL -50 hit huhu
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