FX::tamer Trading Journal: Friday, February 18, 2011

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.

Friday, February 18, 2011

GBPUSD - Pin Bar + DblTop at 4Htf

- been looking for this trade since yesterday hehehe
- Pin bar formation, double top, seems like a textbook entry to me
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edited: 430pm Fri
- SL -40pip hit
- entry was against the trend. should have waited for next candle to make sure if its a "fakey" or "inside bar" forming... lesson learned
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EoW Review:

- it was indeed a textbook "fakey"