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.

Tuesday, April 30, 2013

USDSGD H1 GARTLEY long position


Long position triggered at Potential Reversal Zone, PRZ. Currently in the money, ITM.

Your trade results will show if you are doing what is correct or you are doing what you like
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Friday, March 15, 2013

euraud H1 long


Pattern forming, supported by candlestick pattern and indicator. Entered long position.


Your trade results will show if you are doing what is correct or you are doing what you like
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Thursday, March 7, 2013

audchfh4 short position


Criteria fulfilled. Entered short position and exited shortly as the entry is not ideal. Re-entered for short position today and suffered 30pips losses during a sudden surge in the morning, GMT+8.



Your trade results will show if you are doing what is correct or you are doing what you like
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Monday, March 4, 2013

AudUsdH1 long position


Conditions met at H1, with entry at H4. D1 supporting intended long position. Position closed at +60pips, at adjusted stop loss.

Your trade results will show if you are doing what is correct or you are doing what you like
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Thursday, February 28, 2013

UsdCadH4 D1 Short position



Pair shows pattern confluence at H4 and D1. Besides candlestick pattern yet to complete, the rest of the conditions are fulfilled. Entered long position and closed at lost of 31 pips. Looks like strategy is better off to confine to trades entered at H4 and H1. D1 will require a much bigger stop loss.

Your trade results will show if you are doing what is correct or you are doing what you like
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Wednesday, February 27, 2013

AudchfH1 long position


Conditions met to enter long position, except for candlestick pattern which has yet to complete. Entered a long position and exited with small profit of 3 pips due to concerns of drastic movement within the entry range and the strong support level. 

Later in the day, price movement went up to 70 pips. Huge swings remains.

Your trade results will show if you are doing what is correct or you are doing what you like
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NzdJpyH4 long position


Pattern forming for long position. Other than candlestick pattern pending completion, the rest of conditions are fulfilled. Entered long position and closed at 1pip lost.


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