Aloysius Chan's Blog

Wait for breakout Consolidation False breakout Good entry Traps Trade only at pullbacks Gann square of 9 indicator (scalping) EMA uptrend point & entry EMA point down consistently Market cycle First line should not protrude The measurements move in both directions Even for ranging Market cycle downtrend Market cycle uptrend Envelope indicator Daily - EMA1 21, EMA2 21, FibLevel1 34, FibLevel2 55, FibLevel3 89, FibLevel4 144 5-min - EMA1 21, EMA2 21, FibLevel1 5, FibLevel2 8, FibLevel3 13, FibLevel4 21

The Traders Constitution I am a successful, disciplined Forex trader.  I enjoy trading to make a profit.  I honour the responsibilities I ask of myself and those who are watching and depending on me to be such a trader.  I will always continue to educate myself on how the market works.  I know how to determine market direction and I have a simple trading methodology that works and consists of an entry and 2 exit strategies. One for profit and one to protect me from taking large losses.  My stop loss order is placed to work within my equity manage- ment rules and I feel comfortable with that stop loss order when I trade.  I have a set of rules that make sense to me that are easy to ex- ecute and easy to obey and I obey these rules.  I trade for PIPs, not for money.  I trade non-emotionally and turn off my profit loss window on my dealing station to support that decision.  I always trade with a protective stop.  When I find a trade I creat...

Moving Average Elliot wave Wave 1: Wave one is rarely obvious at its inception. When the first wave of a new bull market begins, the fundamental news is almost universally negative. The previous trend is considered still strongly in force. Fundamental analysts continue to revise their earnings estimates lower; the economy probably does not look strong. Sentiment surveys are decidedly bearish, put options are in vogue, and implied volatility in the options market is high. Volume might increase a bit as prices rise, but not by enough to alert many technical analysts. Wave 2: Wave two corrects wave one, but can never extend beyond the starting point of wave one. Typically, the news is still bad. As prices retest the prior low, bearish sentiment quickly builds, and "the crowd" haughtily reminds all that the bear market is still deeply ensconced. Still, some positive signs appear for those who are looking: volume should be lower during wave two than during wave one, prices usually...