I am Timex and I love this business. I thought it’s time I started a trading journal. With this, I’ll be more disciplined, by sticking to a laid down approach of trading and of course, record my trades.

Below is how my chart looks like. No indicators, absolutely none. I just stare at price with no programming aid as are obtainable in charts used by other traders. I simply look at price and follow its leadership, cause I believe price is KING. I also believe that price leaves clues behind that can be looked for. I have discovered that support and resistance are clues left behind by price. Since price is horizontal, support and resistance lines ought to be horizontal lines, not diagonal. On hindsight, diagonal lines look nice, but should not be used when trading.

I normally BUY at support and SELL at resistance. Many view this as a dangerous method but I think it is more dangerous to BUY at resistance. It will be better to BUY at the support where price bounced from.

The normal theory of trading is to wait for a resistance line to be broken and then BUY. One will be successful doing this if the trend is to continue, but the truth is that price before breaking that resistance, came from a support and you never know if the trend is to continue. Why not BUY at that support? We are told that price is trapped in a ranging condition more often than in a trending condition. BUYing at support and SELLing at resistance works in both ranging and trending market conditions.