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.

Saturday, April 2, 2011

Week 5 In Review

This week was a very interesting week to me. The market was not as usual. All JPY pair is very much unpredictable (for me atleast). Overall pips was in the negative region. This is due to my experimenting with Daily OP which require bigger SL, and I got burned haha. I knew now where is my "edge" to better popit (",). Here's what i figure out:

1. Most of the loss entries that I made were xtually a winning one. It goes to 30-40 pips +ve, but due to my "greed", I didnt bank in the popit until the trade goes against me kui3x. What I need to do next week is to bank in popit and let my Win % do it part, insyaAllah.

2. After experimenting with lower time frame on week 4, I realize that I do not have whats it takes to trade in the lower TF. I was not as cool as MK. He did very well in lower TF. So I will stick to my higher TF entry. It more relaxing to me...

Week 5 Begins 28 April

GU    -55
GU    +9
GJ    -50
NU    +2
EJ    +36
NU    -48
UC    -65
UC    -250
EU    +68
UC    +48
EG    +36
AU    -50
AU    +20
EJ    +30
EA    +18
EJ    +7
AU    +7
EU    +11

Win 12 Loss 6
Win % 66.67
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