Aloysius Chan's Blog

Engulfing (reversal) Big long candle overtake the previous candle completely. Doji (reversal) Open and close at almost same price indicates market does not know what it want. Dragonfly doji: bullish. Open and close at the top with long lower shadow. Gravestone doji: bearish. Open and close at the bottom with long upper shadow. Stars (reversal) Morning star: long candle, short lower candle, long candle. Evening star: long candle, short upper candle, long candle. Pin bar (reversal) Hammer in bearish: small open and close with long lower shadow. Shooting star in bullish: small open and close with long upper shadow. Harami (reversal) Small baby candle after long mother candle. Bullish harami: baby at bottom. Bearish harami: baby on top. Tweezer (reversal) One bullish and another bearish long candle or vice versa of almost same height.

Strategies The last kiss: wait for retest before placing your trade in a drift (type 4) price action. There will be a breakout after the retests. Do not enter the market too quickly as there will be fake-outs. Take profit and stop loss at half of the drift (type 4) length. The big shadow: engulfing candle (reversal). Bearish candle bigger than bullish candle or bullish candle bigger than bearish candle. The bigger is more powerful. Stop loss after the wick. Wammies and moolahs: double bottom and double top (reversal).  The next test should be at least 6 candlesticks apart. Stop loss at the end of the double bottom or double top. Take profit after the next zone. Kangaroo tails: long doji (reversal, type 2 & 4). Market has gone too far and reversing its course. Open and close should be within the previous candle, or it will just be another "runaway". Stop loss after its tail and take profit in the next zone. Trendy Kangaroo (type 1) If the kangaroo happens in a strong trend...

Slow down: as you may be heading the wrong direction. Start over: if you are starting from scratch on today's price, will you buy it? You don't have to like someone, you just have to do business with the person. Find your focus this year. Avoid rushing to judgement, any luck can be maybe good or bad. Practice good habit of not procrastinating Do it immediately Schedule it Let it go Someday/maybe When you say no, mean it, and you won't needlessly lose your time.

"You can't connect the dots looking forward; you can only connect them looking backward" Steve Jobs Career operating modes Inactive Reactive Proactive Innovative Riskometer Stagnation zone Comfort zone Stretch zone Panic zone Calibration questions What is your ideal day like without money concern? What excites you most? What are you most proud of? What compliments people give you the most? What would your closed ones say you value the most? What are some powerful memories you have? Who are your 3 most admired people and why? What do you want less in your life? What challenges are you currently facing? What are you unanswered questions at the momemt? What are you missing in life? What do you want more in your life? Value clusters Connection, community, friends, family, intimacy Creativity, innovation, ideas, writing, expression Courage, risk taking, challenge Freedom, independence Financial security Gratitude, being present, mindfulness, rest and rejuvenation Health and we...

Who trades forex Flow traders: execution traders. Proprietary traders: speculative. Forward traders: beyond spot rates. Options traders: bank's portfolio. Sales staffs: intermediary. Fundamental data United States Non-farm payroll (NFP) Unemployment rate Change in manufacturing payrolls Average hourly earnings Average weekly hours Consumer confidence index University of Michigan consumer sentiment index ABC consumer confidence Institute for supply management (ISM) employment indices Regional federal reserve indices Existing-home sales New-home sales Housing starts Building permits Chicago purchasing manager index (PMI) ISM manufacturing report ISM nonmanufacturing report Philadelphia Fex index New York Empire State index Richmond Fed manufacturing index Consumer price index (CPI) Producer price index (PPI) Peresonal consumption expenditure (PCE) Institute for Supply Management (ISM) prices paid index Gross domestic product (GDP) Trade balance Current account balance Budget and defi...

One kind of intelligence is acquire while the other kind is memorised facts and concepts. Higher level of education are directly related to better health outcome, lower fertility and longer lives. People always think they are above average: over-confidence. If you are a hammer, then everything looks like a nail. Knowledge to become an expert can limit and narrow your perspective. It's not a good idea to take a forecast from someone wearing tie. The illusion of knowledge make people don't know what they are talking about. Flashbulb Memories: memories that are affected by our emotional state. Types of situation Simple: the route to work Complicated: restructuring an organisation Complex: forecasting global economics Chaotic: 911 event We are all suffering from the illusion of control. It is not the mountain we conquer, but ourselves. Treat people greatly and they will show themselves great. Types of listening Downloading: already know Factual: to gather more data Empathic: open h...