Think like George Soros

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

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.

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

Monday, February 4, 2013

AudJpyW1 Pending open position

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

Waiting for confirmation before entering.

Cautious entry due to pattern forming at 1 week chart.

Watch out for it.

Friday, February 1, 2013

AudNzd H4 successful trade

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

Highly tradeable pair.

Harmonic pattern forming within another harmonic pattern.

Confirmation occurred early this morning.

Spread was 6pips when I open entry.

Position closed with +29pips when candlestick showed price weakness.

AudUsd at H4 successful trade

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

Trade primarily uses harmonic pattern as basis for trade identification.

Using other indicators as tools to confirm that the harmonic pattern is a valid one to open a position.

This particular pair AudUsd at H4 was closed at profit of 35pips.

More trades to share after this.

Tuesday, August 31, 2010

Small profits for two days straight

It was not the best of my performance but at least they are in the money for straight two days. Was not sure how market is moving and only took small profits for EUR/USD.

Today marks the third straight profit month for me. Well done!

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