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MinceMeat’s Trading Journal - My Walk to Freedom

  • #81
  • Apr 30, 2012 11:53am Apr 30, 2012 11:53am
Quoting MinceMeat
There weren't any decent FTB to SR levels for me to trade today so spent the day mostly working on my Supply / Demand Zone trading.

1st trade was GU where I entered at the compression into the supply zone after the BEOB on the 15min formed. Took some profit off the table at the FTA and my SL has been moved down to lock in some more.

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2nd set of trades were on gold. Took 2 shorts at supply zones .... both would have been winners depending on how you played them. Managed the 1st trade badly and took a loss, 2nd one was a winner for me after taking 3/4 profits off at the FLS.

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  • #82
  • May 1, 2012 4:05am May 1, 2012 4:05am
Long at a demand zone on GBPUSD. My entry was missed again by 2 pips .... was difficult to pinpoint entry on this one but I prob should have taken the minor SR level into account which I have highlighted by the blue box. Actual zone I was looking at was grey.

3/4 profit would be off the table now as price approach the Supply zone and minor SR level.

This trade was shortly after the UK PMI which was below expectations so shows you the power of the zones. Saying that if price was moving more impulsively I prob would not have taken it.

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  • #83
  • May 3, 2012 2:28am May 3, 2012 2:28am
Trading the lower time frames has been keeping me busy and not always easy to update the journal. Will be updating today with all of the Supply / Demand zone trades that I had marked on my charts whether I took them or not.

Starting with the failed trades. EURUSD and EURGBP demand zones were hit during news and would have been an easy pass given the news coming out of Europe was well below expectations.

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  • #84
  • May 3, 2012 2:33am May 3, 2012 2:33am
Quoting MinceMeat
Trading the lower time frames has been keeping me busy and not always easy to update the journal. Will be updating today with all of the Supply / Demand zone trades that I had marked on my charts whether I took them or not.

Starting with the failed trades. EURUSD and EURGBP demand zones were hit during news and would have been an easy pass given the news coming out of Europe was well below expectations.

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EURGBP broken demand zone and now supply zone remarked on the 5 min timeframe to pinpoint entry.

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  • #85
  • May 3, 2012 2:44am May 3, 2012 2:44am
Quoting MinceMeat
EURGBP broken demand zone and now supply zone remarked on the 5 min timeframe to pinpoint entry.

Attachment
USDCAD and a trade I took a 1R loss on actually. Trade eventually went in my favour but that was after I was taken out by 2 pips

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  • #86
  • May 3, 2012 2:56am May 3, 2012 2:56am
Quoting MinceMeat
USDCAD and a trade I took a 1R loss on actually. Trade eventually went in my favour but that was after I was taken out by 2 pips

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An example of how a zone with repeated tests will eventually fail as the demand / supply is consumed.

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  • #87
  • May 3, 2012 3:25am May 3, 2012 3:25am
Now on to some of the ones that did work.

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  • #88
  • May 3, 2012 4:08am May 3, 2012 4:08am
Looks to be a potential long off 0.7972 on NU at a technically confluenced level and daily demand zone.

Will have to wait and see when price gets there but I would expect a decent bounce.

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  • #89
  • May 3, 2012 9:01am May 3, 2012 9:01am
There have been 2 FTB setups on CADJPY this week. I had an order in on the first one which was narrowly missed. After it going down and hitting what I would deem to be my FTA I removed the order but you can see that price came back and retested and depending on where your SL was could have still been a winner.

The 2nd trade was hit during or just after the news yesterday, hence I did not take it but a good opportunity IMO.

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  • #90
  • May 8, 2012 5:28am May 8, 2012 5:28am
A trade I took last week and didn't document. FTB to a supply zone. Price hit during news (ISM manufacturing PMI) which I had overlooked otherwise would have looked to have pulled the order beforehand. Notice how previous failed supply became demand (support).

Profit/Loss: -1R

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  • #91
  • Edited 5:32am May 8, 2012 5:31am | Edited 5:32am
FTB to a a LTF SR with a decent demand zone. Took full profits just before daily SR at a LTF supply zone.

Profit/Loss: +0.82

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  • #92
  • May 8, 2012 5:34am May 8, 2012 5:34am
Took 2 trades short at a good supply zone. First trade was a limit order at supply zone which was taken out for BE after it bounced off daily level and reversed. 2nd trade was taken after 5 minute pinbar formed and full profits taken at FLS ........ testing out a new trade manager and was actually looking to take half profits, price went on for a decent run

Profit/Loss: BE & +0.75

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  • #93
  • May 8, 2012 5:40am May 8, 2012 5:40am
This is a chart I particularly liked from last week. Notice how well the demand and supply zones were respected. The first 2 arrows (1 demand and 1 supply) were No Brainer FTB trades to SD zones.

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  • #94
  • May 8, 2012 5:43am May 8, 2012 5:43am
The Bund also offered 2 no brainer opportunities to get long. The first one was long at the FTB to a demand zone and the 2nd was FTB to a good LTF SR which had a good clean and strong break showing decent demand at the level.

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  • #95
  • May 8, 2012 5:51am May 8, 2012 5:51am
I didn't trade yesterday being a bank holiday in the UK but this is an area I had marked and was looking for a long. FTB to a daily demand zone. Good clean daily SR if you look back.

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  • #96
  • May 8, 2012 6:03am May 8, 2012 6:03am
Another good example of a supply zone being broken and acting as support (demand) when price returns to the zone.

Also, potential areas where I will be looking for longs in the future should price retrace.

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  • #97
  • May 8, 2012 8:16am May 8, 2012 8:16am
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  • #98
  • May 9, 2012 3:16am May 9, 2012 3:16am
FTB to an h1 supply zone. Took a small position ahead of the zone when price just missed my order. This resulted in poor RR to my FTA (demand zone) so instead of taking some profit or tightening SL I decided to hold. Price bounced from demand and went on to take me out before bouncing from the next supply zone.

Lessons learned - I def need to be more patient waiting for price to come to my levels and not jump the gun. I guess this comes down to missing a lot of good trades recently by 1 or 2 pips so may need to revise entries to a bit further below / above the level / zone I am looking to enter at.

Profit/Loss: -1R

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These were 2 other options for a trade yesterday which did end up working out. In fact here were 2 on EU alone.

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  • #99
  • May 9, 2012 1:04pm May 9, 2012 1:04pm
FTB to H1 demand zone. Took 2/3 profit off at FTA and closed the rest manually (details in charts).

Profit/Loss: +0.87R

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For those watching the very low time frames there were also opportunities to short GU.

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  • #100
  • May 9, 2012 3:27pm May 9, 2012 3:27pm
FTB to LTF SR and M5 demand zone. I was quick to take partial profits on this trade due to the high momentum down bars and the base that had formed above at the daily SR. Trade was set to BE and taken out shortly after.

Profit/Loss: +0.20R

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