I have recently started studying Sam Seiden's supply and demand trading. It has changed the way I look at the market. This journal is to track my progress and force me to analyze my trades.
I will try to post my trades before they are taken, but since I trade off of small time frames it will not happen every time. Trade 1 is in progress and attached.
The green lines are my supply lines and also my target. The red line is my demand zone and my entry. I have circled an area that could give me trouble due to the fact that it has formed a supply zone, I have found that this method of trading is difficult due to the fact that these zones form a lot before your order gets hit or after. This trade does not have the best risk/reward. I am looking for trades that have at least 3 reward for each risk. This trade I am risking 22 pips to make 35, better than 1 to 1 but nowhere near the types of trades I am looking for.
EDIT: I just realized there are no green lines on the chart, the take profit is at 1.3500 that is the bottom of my supply zone, the rest of the info is correct.
EDIT: Take profit hit +35
I will try to post my trades before they are taken, but since I trade off of small time frames it will not happen every time. Trade 1 is in progress and attached.
Attached Image
The green lines are my supply lines and also my target. The red line is my demand zone and my entry. I have circled an area that could give me trouble due to the fact that it has formed a supply zone, I have found that this method of trading is difficult due to the fact that these zones form a lot before your order gets hit or after. This trade does not have the best risk/reward. I am looking for trades that have at least 3 reward for each risk. This trade I am risking 22 pips to make 35, better than 1 to 1 but nowhere near the types of trades I am looking for.
EDIT: I just realized there are no green lines on the chart, the take profit is at 1.3500 that is the bottom of my supply zone, the rest of the info is correct.
EDIT: Take profit hit +35