The Equation

The forex market is an ongoing supply and demand , the out of balance of a price it self gives us direction as where it is headed. Here was the trade I planned and trade in a carefree state, the out come end up with a low risk profit of $2364

I had put a pending order at 1.4437 just at the supply level price. Though it was levels on top of levels, but the level I chose was met all its criteria in defining the actual supply.

Supply exceed demand at 1.4437 thus rejects and price went down. My orders filled and exit within 24 hours at the demand level of 1.41742.

What did I do best ?

I followed my  planned trade.

What should have been improve or changed ?

Nothing, keep going the same thing and consistently.

Whats next ?

Backtesting for short term demand supply on a 5 min chart with large position size,

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: