I've been tinkering with FX for a while now, more as a hobby than anything else. I have been out of the markets for some time but ready to get back in. For some reason I thought it would be interesting to start my own journal. This is simply to capture my thoughts, if anyone that trades S/D has constructive comments by all means post away. Please include charts. I will not post every day as I tend to trade longer time frames, so if replies are delayed please understand.
I will trade Supply Demand Zones using mostly D1, 4H, and 1H charts. Please understand that I still consider myself a pure amateur in the financial markets ever learning and evolving, but S/D makes sense to me and is easier for me to wrap my head around than other means of participating in the markets. Please do not follow my trades...as I have already stated I am a novice and have a tendency to make impulsive trades from time to time. This is something I obviously need to work on.
Something else I seriously need to spend time on is developing a Trading Plan. I have not had the motivation to do that but realize it is a must if I am ever going to be a serious, profitable trader. It would also likely help me get a handle on the above mentioned issue of making impulsive trades.
I will trade a live mini account valued at around $350.00. If I prove to myself that I can trade with consistency I will add to that in $500 increments. I am in no hurry.....
I'll start with a couple of charts....
Edited 7/9/12 to provide updated color key:
I decided to simplify my charts by using just one color for each time frame. 8 colors is too damn much to keep up with. The color will represent both Supply and Demand levels.
Weekly - Red
Daily - Plum
4H - Green
1H - Pale Green
Disclaimer: The content of this blog is for 'Forex Trading Journal' purpose only. Nothing on this site should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.
I will trade Supply Demand Zones using mostly D1, 4H, and 1H charts. Please understand that I still consider myself a pure amateur in the financial markets ever learning and evolving, but S/D makes sense to me and is easier for me to wrap my head around than other means of participating in the markets. Please do not follow my trades...as I have already stated I am a novice and have a tendency to make impulsive trades from time to time. This is something I obviously need to work on.
Something else I seriously need to spend time on is developing a Trading Plan. I have not had the motivation to do that but realize it is a must if I am ever going to be a serious, profitable trader. It would also likely help me get a handle on the above mentioned issue of making impulsive trades.
I will trade a live mini account valued at around $350.00. If I prove to myself that I can trade with consistency I will add to that in $500 increments. I am in no hurry.....
I'll start with a couple of charts....
Edited 7/9/12 to provide updated color key:
I decided to simplify my charts by using just one color for each time frame. 8 colors is too damn much to keep up with. The color will represent both Supply and Demand levels.
Weekly - Red
Daily - Plum
4H - Green
1H - Pale Green
Disclaimer: The content of this blog is for 'Forex Trading Journal' purpose only. Nothing on this site should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.