Strategy: Harmonic Pattern Trading

Target profit: 75pips per week
Indicators: Channel Movement, Harmonic Patterns, RSI
Important chart pattern: double-top/bottom and Head & Shoulder, divergence and convergence
Important candlestick: Doji, bullish/bearish engulfing

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, October 2, 2009

20091002 gbpusd 19pips profit


It is amazing that I yet have another straight win. Using indicators together with fibo and trend is definitely a powerful tool!.




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

Thursday, October 1, 2009

20091001 eurusd 21pips profit


Another round of good trade. Getting a hang of the trading system. Yuppie!




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

20091001 gbpusd 24pips


Yet another correct trade. Use indicator together with fibo and trendline is very useful. Take note.




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

Wednesday, September 30, 2009

20090930 eurousd 29pips


Another good result for euro.




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

Tuesday, September 29, 2009

20090929 usdchf 22 pips profit


System looks good so far. Another good win.




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