Think like George Soros: 2013-02-17

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.

Thursday, February 21, 2013

UsdCad all timeframe pointing to short

This pair caught my eye again despite previous losing trade on this one. This time round, there are strong confluence coming from H1, H4 and D1. Entered position to short this pair and closed at 20pips20pips.

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

EurNzd H1 short

Didn't manage to capture printscreen of the trade. Position closed in advanced manually with 61 pips profit. Close too early as it subsequently ran up to 215pips by night time.

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

Tuesday, February 19, 2013

UsdCad H4 Short

Seeing harmonic pattern within a bigger harmonic pattern. Price action actualising. Position entered and closed at a lost.

Potential Reversal Zone shifted.

Waiting for confirmation to re-enter short position.

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

AudCad H4 short

Just after Chinese New Year trade position. Other than price action not fulfilled, the rest are. In trading position and closed at a lost.

Pattern evolved into bearish butterfly.

Re-enter short position and closed at a lost. Pattern invalidated.