What a Stubborn AUDJPY CT Trade

What a stubborn trade as I slept & woke up monitoring it. Closing for few pip loss or BE but will watch for few more minutes

Good week end to all

Shalom, and God bless

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AUDJPY Short

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GBPUSD Short

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Trade Stopped Out

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AUDJPY Long Trade Triggered

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AUDJPY Setup

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EURJPY Long

Good morning traders - starting late today. I opted for EJ instead of any of the pairs on the trade plan from the week end as the trend seem to be changing.

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Possible Trade Focus for Monday

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Another GBPJPY Short

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What a Stubborn Trade, and What a Stubborn Trader!!!!

I refused to take what the market was willing to give - 5 times I had the opportunity to exit this trade for 8 - 10 pips but kept waiting for more. Take what the market gives :-)

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GBPJPY Short

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GBPJPY Long

I was just playing with indicators on my chart and planning my trade when I noticed some ramblings on the Yen pairs, and without wasting too much time analyzing, I just pulled the trigger and before I could even put in a SL, price was already up 26 pips!!!

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The King with Four Wives

A friend just sent me this thought provoking article, and thought I would share in case it challenges you to consider your eternal destination. Death is a price we all owe and will definitely pay one of these days.

Once upon a time there was a rich King who had four wives. He loved the 4th wife the most and adorned her with rich robes and treated her to the finest delicacies. He gave her nothing but the best.

He also loved his 3rd wife very much and was always showing her off to neighboring kingdoms. However, he feared that one day she would leave him for another.

He also loved his 2nd wife. She was his confidant and was always kind, considerate and patient with him. Whenever the King faced a problem he could confide in her and she would help him get through the difficult times.

The King’s 1st wife was a very loyal partner and had made great contributions in maintaining his wealth and kingdom. However, he did not love the 1st wife. Although she loved him deeply he hardly ever noticed her.

One day the King fell ill and he knew his time was short. He thought of his luxurious life and wondered, “I now have 4 wives with me, but when I die, I’ll be all alone.”

Thus, he asked the 4th wife, “I have loved you the most, endowed you with the finest clothing and showered great care over you. Now that I am dying, will you follow me and keep me company?” “No way!” replied the 4th wife and she walked away without another word. Her answer cut like a sharp knife right into his heart.

The sad King then asked his 3rd wife, “I have loved you all my life now that I’m dying will you follow me and keep me company?” “No!” she replied “Life is too good! When you die, I am going to remarry!” His heart sank and turned cold.

He then asked the 2nd wife, “I have always turned to you for help and you’ve always been there for me. When I die will you follow me and keep me company?” “I’m sorry, I can’t help you out this time!” replied the 2nd wife. “At the very most, I can send you to your grave.” Her answer came like a bolt of lightning, and the King was devastated.

Then a voice called out: “I’ll leave with you and follow you no matter where you go.” The King looked up, and there was his first wife. She was so skinny as she suffered from malnutrition and neglect. Greatly grieved, the King said “I should have taken better care of you when I had the chance!”

In truth, we all have four wives in our lives:

Our 4th wife is our body. No matter how much time and effort was lavish in making it look good, it will leave us when we die.

Our 3rd wife is our possessions, status and wealth. When we die, it will all go to others.

Our 2nd wife is our family and friends. No matter how much they been there for us, the furthest they can stay by us is up to the grave.

And our 1st wife is our soul – often neglected in pursuit of wealth, power and pleasures of the world. However our identity as a spirit soul is going to be maintained wherever we go, whatever bodies we acquire and whatever destination we achieve. So, we should cultivate, strengthen and cherish this existential reality now, and ensure our peace with God.

John 3:16 - For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.

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Threat To Patience & Discipline - Chasing Trades

Within 90 minutes of my last post, price has moved another 30 pips in addition to the 45 pips from the breakout point. When a trader sees this kind of movement, emotion will set in and we begin to think how much we could have made had we entered the trade. But the next time we enter similar trades, it reverses on us and sting like a bee, and we wonder what happened!!!

There is always another trade, another day - ALWAYS. He who lives, lives to fight another day!!!

Trade safe

Shalom

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AUDJPY Trade Setup

I have found out that the "holy grail" of trading is PATIENCE & DISCIPLINE. The potential downtrend structure on the AJ had been there for some few days now but price stubbornly refuses to come down as traders continue to get head fakes to the upside. Price did not however make a new high, and thus the D1 pinbar I highlighted on my chart and mentioned on Forex Factory yesterday remained intact. There was no follow through on the H4 engulfing bar from the London open of yesterday and a CZ (consolidation zone) was thus created.

We have now gotten a trend change confirmation with an H1 & H4 Engulfing bars and price has continued to break lower as I type.

PATIENCE & DISCIPLINE is the key to unravel the mystery of forex trading. I missed the trade as I wasn't around when the break happened, and don't intent to chase trades as there will always be another trade another day!!! The PATIENCE is seeing the setup and watching for a potential trade and the DISCIPLINE is knowing when to enter or not enter, and when to let go if you miss it.

Shalom

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EURJPY Short

The AUD has been pretty strong today and will abandon shorting this pair but will give the EJ a try with a weak EUR against a mildly strong JPY, hoping for a break of yL. The bearish H4 engulfing candle from the Asian session encourages a possible ST downtrend, and if sustained, will bring SL to break even + 3 and let the market decide the exit. All the JPY pairs have been consolidating and trading in a very tight range. SL is therefore very tight as the market can go either way.

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AUDJPY Short

Just woke up to see AJ resuming its downtrend

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Trade Focus from the Week end Posting Good Results

My trade focus from the week end are doing very well but did not take any of them as I mostly start my trading on Monday morning @ 12 am PST and these pairs already moved during the Asian session.

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AUDJPY Short

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Potential EURAUD Long

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Potential AUDCHF Short

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CADCHF Downtrend Continuation

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AUDUSD Short

Took this AU short just before I left home but closed it as this is Friday and did not have the opportunity to move stop to break even plus 3, and would not leave a trade unattended on a week end.

Why did I take this trade compared to the UCA long? Look @ the mini charts and you will see some consistency & structure here compared with the UCA.

Shalom, and good week end to all

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Example of Emotional Trading

A clear example of emotional trading.

I took this trade based on the US NFP & Canadian Employment reports but it was a bit too late into the move. I always like to wait about 30 minutes after news release, see if there will be substance to the movement, by a pullback and then continuation. But I had no reason to enter this trade and realized it was an emotional trade, which always lead to losses. I promptly closed the trade as it was not worth it.

We all get pressured sometimes when we think we have not taken any trade for the last few days and this is an opportunity. Self discipline is @ the heart of success in any endeavor in life. The market is always there, and there will be another trade. I will wait for proper pullback, and join on an engulfing candle that takes out the last H4 high, otherwise I will sit on my hands.

Shalom,

George


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EURJPY Long

Like a sniper, waited for pullback and pulled the trigger on cross above the MA Ribbon & Cloud.

Now closed for about 10 pips as nothing is assured in this market. 10 pip here, 5 pip there and a possible 20 - 50 pip thereafter is a good way to trade.

Shalom Peace​ and God bless

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The Cost of Distraction

I was watching the EJ charts, for possible long trade and got distracted for less than 10 minutes only to come back to the chart and saw 67 pip movement in 4 minutes, yes 4 minutes !!!!

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Another EURJPY Short

1st trade hit SL for a 2 pip profit, and re-entered another short. 11 pip profit now taken, as I missed almost 20 pips on the 1st trade.

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EURJPY Short

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