31 Mar, Aud/Usd - Last Trade of the Month

Session: New York
Duration: 3 minutes.
Timeframe: 15M.
Technical: Moving average, fibonacci.
Fundamental: -
Strategy: Tapped and closed well below 100 SMA, fibonacci as stop-loss.


To some, it might appear to be some superficial reasons to take my kind of trade base on my strategy, but thats what's been making me a little bit money. But i guess using this method, the most important thing is to know when u wan to go in, and when u wan to go out. Often times, i tell myself to get out by 5 pips but greed caught me and my profit end up ticking off instead. This can be corrected easily, unlike if u were to close a floating loss - not able to accept it some times still means u have to accept, at a greater loss.

+6 pips.

Black.

30 Mar, Eur/Usd - Take & Go

Short scalp (long) after price made a day low and hit double-zeros. I could have taken a sweet and shorter (duration) ride during it's first rebound but too much hesitant. Enter at the second.


+5 pips.

Black

29 Mar, Aud/Usd Eur/Usd - Enter with a Plan!

AUD/USD

First (long) position entry on Aud/Usd. Reason for this pair? Aussie seems to be holding on the strongest against the dollar since the start of the day, forming nice uptrend.

Price went up to 12 pips and made a rebound (double top). During that point when i was floating profit of between +10 to +12, i was hesitating on closing the position. i thought price would break a new day high, but then again, taking a look at the bigger picture, into the Daily timeframe, today this pair has already made 125 pips day-range. Still stretching higher?


Finally after attempting the third time, price made a new day-high and i rode some allowance of it and close position. Phew, i was in floating loss before this happens.


EUR/USD
I missed that last two bull candle, i was waiting for the price when nature calls. i wanted to enter a long for retracement but i dont wan to shit my pants for the sake of it. came back and the bull candles has already formed. i missed it! down along with my flush!


Longed after another retracement and scalped some scrap before price continue to range.

+24 pips.

Black.

Book Review: Trading From Your Gut

Back to my personal review of this book ever since i first bought it. First of all, two words to summarise the main point of this book: "implicit learning"

Earlier part of this book, it is broken down into explaining how does our brain work, whether in trading or learning anything else. To simplify, our left brain (the rational one, who can't conclude without giving a logical explanation) "learns" and "recognises" pattern as we gather knowledge, while the right brain (the creative one, who doesn't know why he knows) "draws" these learned pattern (instantly) from the back of our mind, i think they call it the subsconscious mind not necessarily with a logical explanation.. thats why its subtitle: How to use Right Brain Instinct & Left Brain Smarts to become a Master Trader.

In his examples of trading (mainly on stocks), Faith emphasises the importance of swing trading, a more suitable strategy when combining the power of both the left and the right brain. Something about this book reminds me of another book I read last year, that is Blink by Malcolm Gladwell. We might think that we can use out gut feeling in things right away by getting just the "feel" of it. But hell no, Faith tells you that only by having enough practice (and a great deal of it), by "training" your left brain into recognising patterns and systems, then are you able to use your gut feel effectively. Malcolm wrote the same concept in his book. Like an instant recognition or an answer subconsciously, without consciously able to define why you know it. Unless you studied the subject on psychology, I'm sure it gets more or less confusing, but thats implicit learning, I supposed.

Curtis explains a lot about the importance of applying trading using both sides of the brain. A lot of technical terms about intuition and psychological aspect earlier in the book, which makes me a little sleepy with those technical tones.

The author also shared a current book he is working on - Forex trading. Overall, Trading from Your Gut is a great book with many insights of learning and psychological knowledge on trading. Looking forward to his next book.

26 Mar, Eur/Usd - All Odds On Me

My third trade this week. Night classes resumed after one week break. Taken some time to read up some traders' blog when I'm free in the office since I'm already serving notice period and my last day of work will be next Thursday. Great read and knowledge. It's good to know some blogger and understand their personal trading experience as I don't have much trading friends in real life other than Bottle & Seeni.

Session: New York.
Duration:
Timeframe: 15M.
Technical: Fibonacci.
Fundamental: Nil.
Strategy: Enter on pullback of rising trend. Euro rally for today.

Took the first position and price wasn't really going much in my favour. and then it go against me until it hit a certain resistance point and i was prepare to go in a second position averaging losses (no more than 2 i told myself). out of the blue, price freezes and i was disconnected and re-connect. Price has already pass-by my entry. Planned to close my position at b/e later when my positions are not going anywhere, price freeze again and i was down -21, -13. For once, i wished I was somewhere else in my country with LW, DT, & Solfest feeding Jules cat instead. Sounds crappy. Anyway, I did moved my s/l once (damned habit), and for the sake of punishment i supposed, price hit my adjusted s/l and went all the way up.



I need some serious re-evaluation on my trading setup, my seriously RISKY:reward ratio, and when it's time to sleep, sleep - instead of trading when I planned not to!! << always end up saying this.

-38 pips.

Black (face).