Wrong side of fence - again & again

If unsure , I need to wait 9am..this is a typical price action..no wonder I repeat the same mistake...there are some hints there

I found the tool that may show me the Holy Grail ;)

Since a long long time ago, I had this idea of SR line can act like a fence.
You and I know that at this point, the price action will act...
Then I jumped ....exactly at the Wrong Side of the fence.
The entry direction is totally bad, even though the entry place is totally good.
To have a good entry....I need to have more skills at reading direction by observing...

1) Wicks 2) Wedges 3)InsideBar 4) Head Shoulder 5) Doji  6) Big Candle Engulfing 7) DOMOTO Double or More Touch 8) HiHi LoLo witches 9) Fakey

However, there is one thing MORE important than the entry.
The exit.
I need to know where I should exit. Or do I need to leave it to my manager ? (Mr Stoploss).
Difficult to think during trading without visual aid...
However, yesterday I found the tool that I looking for afters years gone....the Reward risk tool ...lurking somewhere in the Sierra chart. It looked like this...
I have to thank the an anon trader that ask SC for this tool...
And kiss goodbye to that "Cut loss, profit run" rhetoric.

Again , this is only a RR tool...it will be a good tool if I have a good skill using it..

Come to my trading room

Nothing fancy....still use XP and DSL .
The pic taken after trading hour, so no live chart or DOM

- at left printer to print notable setups,
- hearing local radio station during trading is helpful...
-simple rules on the wall...changes often ;)
- direct line to call Chicago if there is any fire ;)
-May put a wall paper with a lake view  and switch to optic fibre ..if I have +ve trading income  later ;)
(the carrot)

update Apr 2014: using fiber optic now  much smoother

5 MIN TEST 1

good !

Before trading - aWareness of what's on your mind

that facebook q is important before I trade... i aware that 5min is a better TF than 2min..must use 5 min now on

Next in que..Humpty Dumpty setup with 4 elements with default 2 min TF or 1 min or ticks ...hmmm.

Rambling for no reason & 5 min chart

I realised that most of traders use 5 min chart for CL.
Yesterday prove this case, also like 1001 cases before...
I use a smaller TF than that 1 or 2 mins.
A democracy can failed at certain times - e.g. gov shutdown (let those clever politicians solved their problems). A democracy is always agree to disagree. But working as a team always need everybody to agree. Conclusion : Thats why politicians do the talking, and the others do the working.
However, democracy always right in trading, because democarcy in trading is risking the real working money
Therefore , I will use 1 of my eye to look at 5 min TFrame...
even though I hate that 5mins chart ;)

When yesterday lesson learned well, I got +130 :)

Wait for DOMOTO (Double or More Touch) to enter... here Wicks /doji /IB are ++ss

Not holding profitable trade..should held till double bot before entry to gain thqt nice feeling ....

2 sim trades

Tomorrow Friday is quad witching ?

CL is difficult to trade and I dunno the cause. Closed DOM and later read other blogs that it was an FOMC day...
 I dont do the homework..too tired from day job ;)

Not holding the 1st trade and obvious mistake at the 2nd trade..

August gone and I tried my theory in SIM...(blue DOM meant SIM trades)

Trading take a break, its a holy Ramadhan month

PC System Restore

As traders, we need basic PC know -how......I suspected a virus before and my Pc is slowing down...After much headache I remember a feature of "System Restore". I use this feature,and walla!, Pc back to normal. To be sure I will run anti malware. Now I wish I have "Account Restore" feature in my trading system

Computer infected

I suspected the Pc infected by virus and my Sierra cant properly run after my son use it to play onlines games.
On top of that the internet was not stable.
All are good excuses.
make me to think to buy another PC solely for trading.
And, next week muslims will have ramadhan fasting for a month.
Time for preparation for after-world, not just for world purposes i.e trading ;)

Haze

Trading activity disrupted by haze situation in my town....
Trading requires good environment in order to thrive..in market, and personal life.

http://thestar.com.my/news/story.asp?file=/2013/6/24/nation/20130624230053&sec=nation

Missed it by 2 min

market moved 2 min before 9am when I was doing something else as I was expecting later move.
90% of trading is just by showing up on time @ timing.
next Monday!

Market in ranging

probably caused by witching Friday ?

Post edit : FOMC

Feeling Good

Feeling Good when I put passwords into Live DOM today after hours and hours in SIMming .... However , based on my rules, I projected the market in range, proven true later . Next session pls.

Last week of Sim

tough day but managed to get mini siM profit...
as the old timer said...'when the going get tough, minimize the losers'

Pattern repeated...

Perfect, but I was at other place at that time...

 Jim Rohn (success guru) explained failure as this:

"Simple errors in judgement repeated every day"

And success as;

"Simple disciplines repeated every day".

Its friday and I broke a rule...

1 of the rule is I need to read the '1 sheet manual' before any session as I tend to forget simple rules.
Dont read that and lose in sim trading as I forgot all these simple rules..
yeah, I write many times.

My confidence is growing

...and I will take a live trade after my son back to boarding school

Doji....

I found Doji  are useful....I said many times in this blog.
To be sure I always remember that I will use *hooker tactic

* memory recalled.   http://www.roadtoepic.com/remember-anything-forever-with-memory-hooks/

50% Fibonacci is almost always

working.....

Need to hammer that into my fact & figure brain.

Fibo 50% is not a mumbo jumbo...damn.