FX::tamer Trading Journal: Monday, March 14, 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.

Monday, March 14, 2011

GBPUSD - Buy Limit at 50% fib of Daily Pin Bar

- Pin bar formation on daily + UT
- entry at BuyLimit 50% fib of PB or BuyStop if price break today high
- R:R is 1:1 or 1:2
- but MK already entered hehehe... so I cant enter anymore and shall look for other pair(s) ....
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- BuyLimit entry triggered at 3:30pm at 1.6040. TP at 1.6210, the next logical Res for the last 4/5 cs...
- BuyStop entry triggered too hehehe
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- both OP hit TP at +112pip and +52pip... what a good start ah hehehe

WEEK 3 - Refining my Mastering Pin Bar Method (Tribute to MasterKeiga)

My tribute to MasterKeiga...

He was away from the chart for almost 1 full month, but yet he came back and trade successfully last week... wow.... for he is truly a master who is now in peace with himself...

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This week shall be yet another exciting week with the post 9.0 Ritcher scale earthquake and 10meter tsunami in Japan. The world market shall react to this quite fundamentally. As for me, a technical trader, the PA is all what I need to focus on. Trade what I see, not what I expect.

Last week, MasterKeiga was here and we mengeteh at Dju Trader Haven with MasterFibo. MF went back to Kelate now for the whole week. Safe journey dude...

MasterKeiga reminded me to just focus on the Daily, looking for PB formation. He wanted me to re-study the tutorial videos by Nial in which I did download most of it yesterday and save it in my hard disk, with the intention to go thru it many times today and again. I hope, insyaAllah, this week shall be much better week for me.

Last week I was 4 loss 2 win... not good at all huhuhu..