FX::tamer Trading Journal: Saturday, April 02, 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.

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

Week 4 In Review

I kind of way too late updating my blog. The reason was that starting this 4th week, I no longer going to post images and thought of each and every OP I made coz I truly dont really need to analyze my "why" anymore. I now knew exactly why I loss, win or took the OP, either good ones or bad ones.

This week was another winning week for me ;-) The winning part was not that enticing to me but the been cool and calm with my entries really get me pumped-up (",). I hope to continue with this "thrill" next week as well....

Week 4 Begins 21 April
=================

AUDUSD    Buy    +41
EURUSD    Buy    +10
GBPUSD    Buy    +35
NZDUSD    Buy    +10
AUDUSD    Sell    -42
AUDUSD    Buy    +26
AUDUSD    Buy    +16
GBPJPY    Buy    -66
GBPUSD    Sell    +43
USDJPY    Buy    +1
EURUSD    Sell    +48
EURJPY    Sell    +29
USDCAD    Sell    +26
USDJPY    sell    -65
EURJPY    sell    -46
NZDUSD    buy    +37
USDCHF    sell    -48
AUDUSD    buy    +35

Win 13   Loss 5
Win %    72.22%