+2R USD.-CHF H1 14 Aug-Triple Divg + ABC

Date:14 Aug  2012 (Tues)

Venue: Home

Pair         : CHF/USD     Time frame: H1

Direction:Long

Result:+2R

Strategy:  ABC Waves /Triple Divergence/Wave 4

Result

Breakeven-NZD/USD Daily 9 Aug 2-12-ABC Waves

Date: 9 Aug  2012 (Thurs)

Venue: Home

Pair         : NZD/USD     Time frame:  Daily

Direction:Long

Result:

Strategy:  ABC Waves 

Of course after entering this trade, there is a conflicting one looking real good. Lets see what happens...

Result: I got out of this trade early because I spotted an opposite divergence

-0.5R H4 7 Aug 2012 AUD/USD-Triple Divergence

Date: 7 Aug 2012 (Tue)

Venue:Home

Pair         : AUD/USD     Time frame:  H4

Direction:Long

Result: --0.5R

Strategy: Triple  Divergence

 Well, I have followed the rules. So its ok whatever the outcome. The next double t divergence turned out to be +1R
If I were able to shrug this trade off, I would really have gotten into the next trade without much of batting an eyelid and netted  +1R from this trade. Ah, again, the test of resilence, clarity and character shows up here.

-1R CAD/USD H4- 6 Aug 2012-Double Divergence

Date: 6 Aug 2012 (Monday)

Venue:Home

Pair         : CADUSD     Time frame:  H4

Direction:Long

Result: +1R

Strategy: Double Divergence

Fulfilled all the rules. Not sure where its going yet. After confirmation bar(arrow), the bars are all inside bars. It could break upwards or downwards. No one knows for sure yet. Whatever it is, I find that the quality of my decision is good and I should not keep hoping that the trade goes in my favour. Reason being:

1) The market doesnt really care about how I feel ; ( or for that matter how anyone feels. It will just go about to do what it wants to do. Whatever that happens will only be feedback to me. It cannot be info that I interpret as joyful or painful. Other wise I will always be stressed out by what the market does.

2) This is just one of the many many trades I will take in my trading journey and I didnt bet the farm on it(thank god). It will again be a waste of my emotions to let a single trade outcome affect me in any way.


Outcome

It was a -1R trade. Forget about adding 'ouch', cos its just one of many more trades to come to let my edge play out in the long run!

-1R CAD/USD Daily 30 Aug (Fri-NFP)-ABC Waves

Date: 3 Aug  2012 (Friday)

Venue: Home

Pair         : CAD/USD     Time frame:  Daily

Direction:Long

Result: -1R

Strategy:  ABC Waves

I thought it looked like the picture perfect trade but too bad it didnt turn out. I did think that the SL of 60+ pips was too little for a daily chart but went along with it anyway.


Went for KH's booster session and learned something useful. the psychology of trading is so subtle that you wont even realise the following:


1)If you are fearful when you put on the trade, your mind will work in such a way that you will look for ways and means to get out of the trade. So you'll never be at peace with yourself when you are in a trade.

2)Most traders dont realise they have to move towards a tipping point where they no longer worry about the entry rules too much because its the exit rules that determines our final and overall profit after say, 100 trades.

3) He also went through the spread sheet and talked about trade expectancy. If its 0.3R, after a 100 trades its a positive 30R which is not too bad

+2R AUD/USD H4 25 July 2012-ABC Waves

Date: 25 July 2012 (Tues)

Venue: Home

Pair         : AUD/USD     Time frame:  H4

Direction:Long

Result:2R

Strategy:  ABC Waves & Double Divergence

_____ H1 USD/CHF31 July 2012-Double Divergence

Date: 31 July 2012 (Tues)

Venue: Home

Pair         : USD/CHF     Time frame:  H1

Direction:Long

Result:Not know yet

Strategy:  ABC Waves & Double Divergence

Missed this trade on Monday morning 23 July

Well, was planning this trade for Monday morning but was out till late on Sunday night so didnt wake up on time to catch this one...

Strategy: ABC Waves

+1.5R H1 USD/CHF 23 July 2012-Double Divergence

Opening Balance:$11,655

Date: 23 July 2012 (Monday)

Venue:Out dining

Pair         : USD/CHF     Time frame:  H1

Direction:Short

Result:Not know yet

Strategy:  Double Divergence

Entered this trade late last night. Its still hovering at the same price. Not sure where this is going. Cos there is an long
signal for Day USD/CAD which conflicts this trade. USD/CAD correlates with USD/CHF pretty close though not exactly but lets see how the market wants to present itself..Let me do my
oother work and set an alarm if it reaches +0.5R and then adjust my stop. Its really a waste of time and emotions to
see what the price is doing and every tick that goes along with it.... Or it may just hit my SL and get me out of the
trade....Lets see....

+1.5R H4 EUR/USD 19 July 2012--ABC Waves

Opening Balance:$11,164

Date: 19 July 2012 (Thursday)

Venue:Out dining and shopping at Great World City

Pair         : EUR/USD     Time frame:  H4

Direction:Short

Result: +1R

Strategy:  ABC with Double Divergence

 

I checked my iphone and saw that there might be an opposite divergence. So I quickly took action and true enough there was one. 

So I closed out my existing trade and took a short positon based on the ABC and double divergence trading rules. Profit target here is 2R. Ok go to sleep now and stop staring at the comp

20 July


Its the next day now and I am glad to see that I havent been stopped out. I am again checking the charts every now and then and finding evidence that I should get out of this trade as it looks like its going up


Evidence #1--the price seem to have an upward bias

Evidence #2


The weekly chart seem to show an upward bullish divergence.....How???
Should I take note of these opposing signals or just stick with my trading plan?

The temptation to throw  in the towel and just get out while its positive is very great because my gut feel is that the trade is 
moving up, going against me...Then I went out for dinner with my friends. I also decided what the heck to just bloody stick to my
trading rules because they are there for a reason....


Then at dinner time when the market opened, prices started their swift descent....So I am really glad I stuck to my trading rules
because my job is to follow the rules, not to predict the market....So I got out at +1..5R as I didnt want to hold over the weekend and 
also since my bullish instincts are so strong...

--0.5R H4 EUR/USD 19 July 2012--Double Divergence

 Result: Closed it out at less than -0.5R cos there was an opposite divergence. See next trade

Opening Balance: $11,260.23
Closing Balance: $11,164.00

Venue: Home

Pair         :EUR/ USD     Time frame:H4

Direction: Long

Result:-

Strategy:  Double Divergence

 Note that the 1R coincides with the FE100. Lets see how it goes...

A common unsettling thing happened again.H4 USD/CHF seems to have a long ABC signal. Its 5pm now, need for it to close at 8pm to see if this will be the reversal bar. Cos the last bar closed below the FE line and doesnt qualify as a reversal bar.

 One more !

+1R- H1 NZD/USD 18 July 2012---Double Divergence with ABC

 

Date: 18 July 2012

Venue: Office

Pair     :NZD/ USD     Time frame:H1

Direction: Long

Result: +1R

Approx Strategy:  Double Divergence with ABC

 
Yesterday's AUD/USD turned out to be a negative -0.5R. Saw that there market was moving very strongly and NZD/USD H1 was showing trade signal of both double divergence and ABC. Decided to base my Take Profit according to Double Divergence rules which is 1R. This is because 2R is much more than the 61.8 expansion and 61.8 is a strong overhead resistance.

Was thinking to trail the profit but decided not to. Sometimes when the trade is going your way, its easy to get carried away...

--0.5R H1 AUD/USD 18 July Wednesday

Trade  4………18 July 2012

Venue: Home

Pair         : AUD/USD     Time frame:  H1

Direction: Longt

Result:

Strategy:  Double Divergence

What I was thinking: Just want to do my other stuff and not keep looking at the trade even though the temptation is quite strong.

 Will set alarm for it to ring when its 0.5R  in my favour. May just trail my Stop Loss to breakeven

Hit 0.5R Stop Loss

+2R 4H AUD/USD 12 July

Update on the trade of the long  H4 AUD/USD I took on 12 July which I decided to hold over the weekend. Its a 2R trade, could have ridden it a bit more but ok fine. I am happy with it. There are still lots of opportunities.

Another kink of the roller coaster while having my AUD live trade

Just received KH's trade signal which is contrary to my trade. To close or not to close, that is the great question...

I was thinking of closing out the long H4 AUD/USD trade last Friday so as not to hold over a long weekend, but I thought, what the heck, there isnt any Summit meeting over the weekend so it should be ok to hold...
Come Monday today, saw theres a conflicting sell trade on H1 NZD/USD and thought I should just close the AUD position and take whatever pips there are. But then I wanted to stay true to my trading rules which tells me to wait to trail the stop loss at 0.9R....So here I am trailing it....I realise that this dilemna is present in every trade I take. I am beginning to see that its a waste of time to experience any of this  because there is no answer to this uncertainly. The only sure and certain thing you have is: your trading rules. So I always go thru the second guessing and still come to this conclusion: Follow the damn rules!

Forgot to update on the previous trade: long H4 GDP/USD. Spotted an opposite divergence so decided to get out at close to breakeven. If there wasn't this signal, I would have stayed in the trade.

Entered a long position based on H4 AUS/USD. Double bullish divergence.
Although the second low was not really a low, went in cos the divergence is very obvious and the bar is sitting on a strong support line. The US market is also opening very soon. Profit target is 1R

An ABC trade based on Elliot waves and Fibo levels and 1 divergence between price and any of the 3 indicators

Went into another buy trade of H4 GBP/USD trade today....although there's also a valid sell signal on Daily NZD/USD, just that divergence is not all that outstanding. For every signal, there's always another conflicting equally good looking signal. But the market is always right as only IT can tell us which signal will come true...

I think the ultimate forex strategy is the mastery of self. How do you stick to your trading plan? That I dont have much of a problem. How do you master your emotions and not go into an emotional rollercoaster of second guessing yourself when you are already in the trade? By believing that every trade outcome is random and that the aggregate of all trades will turn out a positive result. So each individual outcome is really not important. Even when all the loses or wins are in strings.

Sitting in a trade at the moment. Market is still as its not the active trading hours yet. Have protected 0.5R profit already.