Hello fellow traders,

welcome to my trading journal and the endeavor to beat the FX market. Should be entertaining!

LITTLE BIT ABOUT MYSELF

Allow Me to tell you more about myself first. I got into trading about five decades ago and have been making my living from it since then. I trade full time and thats my sole income.

I exchanged mainly options and stocks and I still do but my goal is to master price action trading and make money online FX. Its a difficult challenge but thats why it makes is so interesting. So about 1 year ago I decided to master it. I dedied approximately 8 or more hours every day to read and study FX. I read the majority of the subjects here and tried alot of this egies. I left about 50 different templates myself and tried FX simulators to hasten this process. Overall it was a fun journey but I soon realized all that makes hardly any sense. I dont want to seem too negative but I honestly havent seen any profitable system that is based on indiors derived from previous data.

So on my trip I stumbled upon trading price action and looking at how price acts around support and resistance areas. Or supply and demand zones. Whatever you want to call it. Its really always a zone and never s straight line. I researched the way that price acts in an uptrend and how it does in a downtrend. It all made sense. I heard about it for several months and tested few egies until I settled with my promising one.

MY TRADING PHILOSOPHY

My perception is that: Forex isn't random and it may be exploited. Regardless of what people tell you it isn't random. It is a market based on people who are making trading decisions. Yes their decisions are mostly random except at those points where they're made to make trading decisions. Thats where greed and fear come into match and thats where FX becomes predictable.

Offcourse an individual trader doesnt know what's happening in every other trader mind and as someone you dont have insight into each of the orders that are set in the market so consequently you're doomed to fail if you dont find that the edge.

Money managment alone wont give you an edge and accepting random entries/or indiors based entrances would produce 50/50 outcome in the long run but becouse you pay the spread you'd loose all the money.

So how to overcome this problem and discover an edge to exploit? Easy, very simple....all you have to do is find areas on the chart where folks will be made to make trading decisions based on greed or fear. . .those will be the support and resistance areas. As soon as you find them and know how to harness them by observing price action you got yourself and edge. Thats all. Simple!


THE STRATEGY

So what's my egy?

1) in an uptrend - buy on the pullback

two ) at a downtrend - market on the rallies

3) in range market - I look for price when it reaches S/R and observe behaviour. I fade the weakness if price has stalled and starts to turn. Bearish/bullish engulfing pubs or pinbars are good entry points.
In case of breakout I wait patiently for retest and proceed with the order flow. If price is approachig S/R with alot of power occasionally I trade the breakout outright.

Basically just FADING THE WEAKNESS and FOLLOWING ORDER FLOW.