Think like George Soros: 2009-09-20

My Trading Mantra

1. Objectively identify my edges - I have a system here that works.
2. Pre-define the risk of every trade.
3. Completely accept the risk. Consider the money GONE.
4. ACT on my edges without reservation or hesitation. Follow the rules and take every trade that meets the conditions.
5. Pay myself as the market makes money available. Take the profits and be happy. Even if compounding my account, pay myself something out of my profits each month.
6. Continually monitor my susceptibility for making errors.
7. Understand the absolute necessity of these principles, and therefore I never violate them.

Friday, September 25, 2009

20090925 usdchf 21pips

Hold out long enough at 1hr and not affected by noises at smaller timeframe?

Your trade results will show if you are doing what is correct or you are doing what you like

Thursday, September 24, 2009

20090924 GbpUSD 27 pips

Your trade results will show if you are doing what is correct or you are doing what you like

20090924 EuroUSD 18pips

More indicators showing the same directions - nothing but down. Good for entry.

Your trade results will show if you are doing what is correct or you are doing what you like

20090924 usdjpy 18pips profit

If trading is all about increasing the probability, then do we want to make technical analysis complex? It applies the same when you go to casino, its all about probability and having the edge.

Your trade results will show if you are doing what is correct or you are doing what you like

Wednesday, September 23, 2009

20090923 GBPUSD trade 30pips profit

Testing out a new method for trading - hopefully less stressful. Will be forwardtesting for 100 trades to establish if this is good method to use.

Your trade results will show if you are doing what is correct or you are doing what you like

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