Reminiscenes of A Stock Operator (notes)

Whatever happeneds in the stock market today has already happened before and will happen again.
- I record my hits and misses.
- Your business with the market is now not tomorrow.
-Act instantly or be left.

- The Market looked promissing, but suddently market is doing its hesitating. Instead of feeling confident, be on guard against what was coming.

- Don't Do Things Blindly. Stick with the trading plan. I always made money when I was sure I was right before I began.

- Play the market only when I was satisfied that precedent favored my play.

- Not all day is the best day to enter a trade.

- Think that when this trade is right it will cover couple of days salary or income. Do not think that you must take home money everyday.

- A Trader has to fight a lot of expensive enemies within Himself.

- Don't trade the market ignorantly.
- Limit losses when the trade is wrong.

All my life I have made mistakes, but in losing money I have gained experience and accumulated a lot of valuable don'ts. I have been flat broke several times, but my loss has never been a total loss. I always knew I would have another chance and that I would not make the same mistake a second time. I believe in myself.
A man must believe in Himself and is judgement if He expeal to make a living at this game. When a man is right He wants to get all that is coming to Him for being right.

One can see the whole better when one sees it from a little distance.

If market/Pair doesn't act right don't touch it; because, being unable to tell precisely what is wrong you cannot tell which way it is going. No diagnosis, No prognosis, No prognosis, No Profit.

When I lost it was because I was wrong and not because I was suffering from dissipation or excesses.

I couldn't afford anything that kept me from feeling physically and mentally fit.

As young man I never kept late hours, because I could not do business properly on insufficient sleep.

Let the profit run, coz you anticipate the move, Let it prove you are right, but don't let your guard down for unexpected.

Look for general conditions or trend long-term market.

I follow my own inclicnation.

Tips: Divide the lots to prove the right direction or right entry.

8 Personal Habits of Ultimate Business Gurus

1. They Practice Patience
           They know that they must be patience and work until they have more good days than bad days.
2. They Plan Their day, the night before
          They write down the goals, tasks, and activities they want to accomplish the next day.
3. They Plan Thier day so they know exactly what they need to do each day.
4. They Plan Their Month, the month before
          They understand that the plan can be altered. It is a guideline as to what they need to accomplish and work towards.
5. They Read all the time
          Business Gurus understands that READERS ARE LEADER. Gurus are big time readers. They need to read atleast 3 hours each day.
6. They wonder where the next Leads are coming from.
7. The understand the numbers of their business.
8. Ultimate Business Gurus have a plan of action.
         Gurus knows that you should focus on tasks that will produce the most money. Gurus knows that their time is worth more money and thus out sources smaller tasks.

EURUSD TECHNICAL AFTER ECB'S REPORT

FXCM SHARES DOWN TO $1.46 FROM $17.00 WEEK

ACCORDING TO THE NEWS FEEDS TODAY THAT FXCM SHARES DOWN TO $1.46 FROM $17.00 STARTING WEEK. AND CNBC REPORTS SAID THAT FXCM IS LOOKING FOR $300M RESCUE DEALER.

BIG RALLY EURUSD AND GBPUSD AFTER WEAK USD RETAILS SALES

LOOKING AT THE CALENDAR OF EVENTS USD RETAIL SALES EXPECTATION FAIL. I WAS WAITING FOR THE EURUSD TO CONTINUE TO MOVE DOWNWARD AFTER BREAKING THE MONTHLY SUPPORT @1.1743, BUT PRICE CLOSED ALWAYS ABOVE THE LINE. SO, OBVIOUSLY THE SELLER'S ARE AFRAID AND CLOSED THEIR POSITION, THEN TURN TO BECOME BUYERS. NOW, BUYERS ARE WAITING FOR THE USD RETAIL SALES TO CONFIRM THE EXPECTED REVERSE MOVE OF THE TREND. LOOKING THE CHART OF EURUSD FROM H4, H1 AND 5MINS 100&200MA, PRICE IS STAGNATED BEFORE THE NEWS RELEASED FOR ABOUT 15MINUTES. BUT, AS I NOTED THAT PRICE REMAINED ABOVE THE H1 20MA AND 5MINS 100&200MA. PRICED SHOULD BREAK THE RESISTANCE LINE @1.1876 TO CONFIRM THE REVERSE TREND.

FOR GBPUSD SEE TO THE IMAGE. THE PRICE WAVE IS OBVIOUS.

BUYING ABOVE H1 20MA WITH NO BIG NEWS EVENT

LOOKING AT THE IMAGE ABOVE BUY POSITION TRIGGERED @1.5164 07:10 (UTC +00:00) . THERE WERE 3 DIFFERENT TIME FRAME AT THE IMAGE ABOVE.
H4 TIME FRAME: PRICE STAYED ABOVE 20MA.
H1 TIME FRAME: YESTERDAY PRICE BREAK BELOW H1 100MA, BUT REVERSED BACK ABOVE H1 100MA.
5MIN TIME FRAME: AROUND 7:00 (UTC +00:00) - 100&200MA LINE MERGED, THEN PRICE BREAK THE MA LINE AND CONTINUE TO MOVE UPWARD. AND PRICE ALSO BREAK THE RESISTANCE LINE @1.5190 AND H1 200MA. IF PRICE REMAIN ABOVE THESE LINE,  PROBABLY PRICE WILL CONTINUE TO MOVE UPWARD, ELSE PRICE WILL BACK TO THE RANGE TREND BOX AND WILL REMAIN THERE, UNTIL THE BIG BOYS WILL BOND THERE POSITION AT THE SAME DIRECTION.

BUSINESS TRADING THOUGHTS

I know my strengths and weakness. The KEY is MENTAL STABILITY.

Deal with FEARS of losing your money or others. Deal with Greed. Deal with your EGO.

I have incredible fundamental knowledge because I spend 4 to 6 hours each day researching. I need to improve my abilities with the technicals but I get better each day.
Money Management is ALSO KEY !!!

• Don't Trade against the TREND
• Know what Trend you are trading. 
• Be aware of News about to be released. 
• Do not fight the market when it heads against your position. 
• Know where to take your loss to get back in later. 
• Be ready to change your opinion if facts warrant it. 
• Have a Trade Plan. Know how to take Profits. 
• Do Not Trade Just to Trade.

Make sure you stay calm. Trade in units of 100K to scale in your position since you can never or rarely get the top or Bottom of a move.

Make your own decisions. PUT ALL THESE into effect. Know how one Currency Pair affects the other one as in EUR/JPY and USD/JPY !

--bruce

OPEN BUY POSITION ON EURUSD

BUY POSITION ESTABLISHED ON EURUSD AFTER THE PRICE FAILED TO CONTINUE TO MOVE DOWNWARD AND MOVED ABOVE H4 20MA, H1 100&20MA. IF PRICE WILL MOVE BACK BELOW THE H1 100&20MA, THEN IT'S TIME TO KILL MY POSITION. NEXT TARGET @1.1866 RESISTANCE LINE.

SELLER'S EYE ON USDJPY

 

 LOOKING AT THE IMAGE ABOVE H4 TIME FRAME THE PRICE TESTED THE MOVED ABOVE H4 200MA AND 20MA BUT THE PRICE CLOSED BELOW THE LINE. AT H1 TIME FRAME PRICE FAILED TO CONTINUE TO MOVE UPWARD. 

SELLER'S TOOK CONTROL AFTER THE PRICE REVERSE MOVE BELOW TO H1 100MA.

POSITIVE FIGURE FOR USD

 

GBPUSD TESTED THE 50% FIBO AFTER BREAKING THE H1 100MA, BUT PRICE MOVE BACK BELOW H1 100MA AFTER THE POSITIVE OF NON-FARM PAYROLL AND UNEMPLOYMENT RATE. 

EURUSD LOOKING AT THE IMAGE ABOVE IN 5MINS TIMEFRAME AT THE RIGHT, PRICE IS GETTING HARD TO MOVE UPWARD AS YOU NOTICE. AFTER THE RELEASE PRICE MOVE BACK BELOW THE H1 20MA AND 5MIN 100&200MA. IF PRICE WILL BREAK THE MONTHLY SUPPORT LINE THEN EURUSD WILL CONTINUE TO DOWNWARD TREND.  

COUNTER TREND BUY POSITION IN EURUSD STOP OUT

 

COUNTER TREND BUY ENTRY AGAIN @ 1.1808 1/9/15 9:15. 

NO ONE REALLY KNOWS THE NEXT MOVE OF THE MARKET. PRICE MOVE BACK ABOVE H1 20MA AND 5MIN 100&200MA, ANTICIPATING THE FIGURE OF NON-FARM PAYROLL TRIGGERED MY BUY ENTRY. IF PRICE WILL HESITANT TO CONTINUE TO MOVE UPWARD AND MOVE BELOW THE MA LINE, THEN IT'S TIME TO SLAUGHTER MY BABY PIPS.

I WAS STOP OUT BY CLEAN UP HOUSE MARKET MAKER WAAAAAA.... THAT'S OKAY, A SMALL PIPS OF LOSS DOES NOT HURT. SELL OUT @1.1797 - 8 PIPS.

BUY ENTRY GBPUSD - TAKE PROFIT POSITIVE RESULT

 

TAKE PROFIT @1. 5145 - 53 PIPS FROM ENTRY SEE IMAGE BELOW, NOT BAD FOR DAILY PROFIT. 

TREND BIAS WILL CONFIRM IF THE PRICE WILL BREAK THE H1 100MA. WAITING FOR THE NON-FARM PAYROLL RELEASE TODAY WITH PREV. 321 FOR. 240. IF BUYER'S WILL HOLD THEIR POSITION THEN BIAS UPTREND WILL CONFIRM. GBP TRADE BALANCE IN POSITIVE FIGURE THIS MORNING.

BUY ENTRY @1.5091 1/8/2015 16:39 (UTC+00:00). Buy signal was triggered when price move above H1 20MA and above 5min 100&200MA. This is a counter trend trade, when the price move back below the H1 20MA, then it's my time to get out. If I will be right the price will continue to move upward to reach H1 100MA. Looking back at monthly time frame price currently above Monthly support trend line. So far, price remained below H1 100MA from Dec. 21, 2014.

BUY ENTRY COUNTER TREND EURUSD

 

My BUY POSITION BELOW WAS STOP OUT @1.1792 - 21 PIPS.

BUY ENTRY @1.1814 1/8/2015 16:39 (UTC+00:00). Price bounce up after reaching the Montly support line. And price currently above H1 20MA and 5min 100&200MA. But if price, will move back below the H1 20MA or close below the MA, then I will get out. Next target will be @1.1866 resistance level, approaching H1 100MA.

Big win cutting off early

Big win last year. Look above image, platted indicator: the big blue line - D1 100MA, H1 100MA is the 2nd blue line, H1 200MA is the dark green line and H1 20MA is the light green line.
Price stayed below D1 100MA and H1 20MA an it was confirmed when the price move below the H1 100MA. And price continue to move downward.

MMR