FxPundit Trading Journey

This is Trading Journal of a trader who just started to walk on the right path of trading.

My Simple trading method:

1. Buy or Cover on Demand zone (Drop-Base-Rally or Rally-Base-Rally)
2. Short or Sell on Supply zone (Rally-Base-Drop or Drop-Base-Drop)
3. Set limit order for 'Really Good' demand / supply zone and Conformation entry for 'Not so Good' or already visited but not violated demand/supply zone.

My trading method is Discretionary but I have incorporated set of rules which will make my method Discretionary mechanical Trading method.

I also use 20 period EMA just to help me to identify support/resistance and also for trailing stop.

This was my trade setup for this week. The setup was done on 4hr Chart.



First trade was just limit order as it was good supply zone. The trade was closed was for 80 pips.

Price visited the zone second time. this time it needed to be conformation entry. But price went above my supply zone at second visit however the new rally was created by the news hence it was temporary rally. I shorted the EurUsd on conformation and took my profit near my demand zone for 180 pips. Then I wen long on EurUsd because it was on my supply zone which was already setup on Monday.



I have closed my long position on EurUsd because its almost 13:00 and price is visiting last rallied point. I made 130 pips on this trade.

Hello Traders,
Back again after long time. Though I was trading I didn't post any of my trade in the T2W Journal. I actually thought this journaling online is just rubbish, however since reading few posts from well known Traders I have come to conclusion to keep on posting my trades when possible to this journal. Hope fully one day I can post trade as I am taking it but currently I don't have enough time for this due to my other commitments.

When I am free I will definitely post some trades and keep the community upto date with my trading method.
I really believe my this journal will help novice traders who are just starting to trade as I finally starting to come out from that zone and making some profit.

Also, I want to say my trading strategy has significantly changed since my last post, However my basic strategy of Supply And Demand has not changed. I have just twicked it a little bit to help myself trade more better.

I think this is enough writing for this message.

Happy Trading Guys

Hello Traders,

As I mention earlier, I have again started to write on this journal and have decided to post few things early on before I put my trades setups.

I have found and met few traders in my short trading career whom I actually believe to be very good traders. As my profile suggests I am very much in debt to Mr. Sam Seiden of Online Trading Academy ( Whom I have actually met )and Mr. Lance Beggs for helping me start my trading (through books, article, email, seminars and webinars).

I would also like to thank Louise Carr, Occasional Instuctor of Online trading Academy. I was lucky enough to have opportunity to learn from her and her trading method especially Swing Trading method. Another person I would like to thank is Ex. RAF. Mr. Paul Wallace, with lots of experience in trading, coaching and mentoring. You can read his blogs on FXTraderPauls Trading Adventures | About FXTraderPaul . I actually recommend every trader of every experience to look at his blogs and also you can meet him (if you are in london or UK) from meetup group in his blogs.

I hope I didn't forget anyone. Even if I did then will definitely add later on and sorry for that.

Have a great day people

Happy Trading

Hello Traders,

After brief come back message and thanking, I have come to the point of attaching today trades.

First of all I would like to say that I normally trade EurUsd simply because it has more movement than other pairs. But that doesn't mean I don't trade other pairs. Currently I am trying new method of using other pair to hedge the EurUsd pair or any trade i do. We will talk about it later.

Below are two trade I took today. The picture is what i put in my private journal along with other regular information about which I will write in near future.

First of all the trade I took was setup on Wednesday with limit order placed. Having already taken another trade that morning, I placed the order in same place.

This trade was triggered in evening when I was outside meeting some other traders organised by London Traders Network.

This is the picture of the trade that was on progress. See pic for more detail



The trade was closed at 1.2957 with about 110 pips profit for 15 pips risk i.e. 7R trade. Well Done Me



The trade was closed because the momentum had dried up and my strategy signalled that it was good time to exit the trade. Yes if I had stayed little longer I would have made more money but I am really happy with my 110 Pips profit.

This trade was taken, executed, managed and exited all according to my plan and I was really lucky to get good pips for following my plan.

I took break from trading once I closed the above trade and went back to learn my trading book and blogs.

When I came back for my afternoon session I saw a divergence in the price. See below.


When I saw the divergence I was waiting for setup to produce a reversal sign which I got and took the trade with 10 pips risk. Closed the trade for 20 pips profit because I didn't like the market conditions and also my setup was giving closing signal. I could have trailed the stop but I was happy with my 20 pips gain.

Another trade today according to plan.

Lesson Learned:

1. Always follow plan strictly. You get paid by market handsomely for following the plan.
2. Trade less as Less is more. At least I didnt give away my profit taken from market back to it. This happens a lot in the journey of novice trader.
3. Always keep eye on Momentum indicator for Divergence as it can show trade entry and exit point.

Thats it for today Folks

Happy Trading

Hello Traders,

Hope everyone had wonderful morning (Here in UK). After waking up early in the morning (5 o'clock), I opened my trading platform and guess what I found nice setup coming up in GbpUsd (Normally I take EurUsd setup but this time GbpUsd had clear signal than EurUsd), so I setup the sell limit order and waited for it to get filled. It got filled and guess what it goes straight to north almost taking out my stop. Luckily it didn't hit my stop and started to go south. Once it started to go south in my direction, I saw little pocket of support and fitted my long strategy so I decided to close the trade early on (See pic for details).

I made 24 pips profit in that trade.

Since my long straegy was matched up and the risk was just 5 pips I decided to take long from the support. Well not exactly on support because I got slipped by my broker. Well next thing price rocketed towards north in my direction. When my strategy gave signal to close the trade I closed it for 67 pips profit and waited for another Entry signal (Didnt matter whether it was long or short) but it never came.Well, Signal did come which I missed completely but hey lets talk about that in another message, Lets keep this message just for these two trade.



The chart shown is 30 min chart of EurUsd. This is my Journal Chart as well.

Hello Traders,

As I mention in previous trade log that I missed the trade and oh boy oh!!! it was a great trade to miss. (See Picture for what I missed)



You can see here it was nice supply zone setup and My sell signal was perfect some like to call it (5 star entry or All star entry) where everything match up. I wouldn't have minded if I was losing on that trade but the fact I missed the setup completely in my favourite EurUsd just because I was looking for setup in another pair. Well if I had taken that trade then I would have been closed out for 70 pips Profit. Well What can I say..I still made 94 pips today and currently I am in another long Trade in EurUsd with high Probability trading opportunity.

Well have a good day and weekend traders. Will post details of my on going trade when its complete. Till then good buy (You see what i did there )

Happy Trading