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, 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

Tuesday, August 11, 2009

11 Aug 09 17 pips profit


Euro 1hr is going south and testing the pivot line. 5mins timeframe tested the pivot line a second time in the morning. Took a short position and grab 17pips.

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

Monday, August 3, 2009

3 Aug 09 Euro, Chf and Cad (20, 10, 10 pips profit)








Entered trades for Euro (short), Chf (long) and Cad (long) in the morning. All 3 trades at 1hr crossed the i-regression and red arrow indicated trading opportunity. Went to 5mins timeframe to find good entry and closed position in the afternoon. Initial target profit is at 1hr emas. Panicked a little and adjusted the profit taking for euro (20pips) and chf (10pips). Shortly after both pairs moved towards emas (potential profits of additional 20pips each).




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