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, March 2, 2011

GBPJPY - Sell Limit at 50% PB Daily

- I ter miss this PB formation on the Daily huhu. I was +50pip late now.
- Sell Limit order at 50% PB retracement technique is applied. hoping price will retrace up during Euro session and continue downward.
- R:R is 1:2
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edited:
- Sell limit triggered by 530pm GBP red news. News suppose to be good for gbp... haiya. tgk ler how market absorb the news...
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edited: 2:30 Friday
- SL hit -80pip. This last SL completed my very bad week. All 5 entry were LOSS !!! hidayat...
- time for me to sit back over this weekend and self-evaluating my trades and system execution...
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EURCHF - Sell off PB daily


- PB formation off Daily + bounce off 38% fib
- R:R is 1:1.5
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edited: 230pm Thur
- SL -50pip hit. mak oi. what a week im having... :-(
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TIME FOR SELF REFLECTION.....

this journal should have been pen on mlm smlm, but I x berkesempatan nak buat

I just had 3 losses in a row... not a good start of the week at all...

I now decided to apply what my mentor commended - get away frm the computer screen, do something else, come back until my mind is stable again and can follow my "constitution" again. And that is what exactly im doing now... I layan Arfan berceloteh, close all terminals except one, watchcing John Stratham's "Mechanic" movie. Best jgk jalan cerita nya. Menyambil reading my emails and FB etc. My mind is now out of forex world... what a gool feeling it is...

Tmrw I WILL start fresh. I will continue on my success off last week. Few things need to be improved this week, psychologically speaking. My entry will only based on PB formation, 4H/Daily, follow established trend primarily.

Wish me all the best fellow traders... hepi pipping... the green one, i mean. kui3x...
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USDCAD - Sell off PB 4H - Stupid Mistake

- this one of those stupid mistake that u will do when ur emotion is not stable hahaha
- will not comment on this entry as "everything was just plain stupid". period.
- SL -20 hit in no time kui3x. lesson learned.
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