Keepin' It Simple: Supply and Demand, Volume, and Price Action

Discussion in 'Journals' started by pmccandless, Mar 24, 2010.

  1. Hey guys. Somehow I’m just now discovering this site as I’ve been involved in the markets for almost a year and a half now. Seems like there is some good information to receive from this place. Hopefully I can help some others who are just starting out as well.

    I’ll start off with a lil’ about myself… I began working my way to becoming a Firefighter/Paramedic in highschool as I thought this would be the perfect job for me. After working 4 years in the field as a Paramedic and Volunteer Firefighter I realized it wasn't what I wanted to do for the rest of my life. I basically dropped everything and moved to Lake Tahoe, CA where I lived it up and worked seasonal positions as a Snowboard Instructor and dockhand. I soon came to realize more and more that my problem didn't lie within the jobs themselves, but the fact that I hated having a boss. It was December of 2008 that a buddy I met up in Tahoe doing the same thing as me turned me on to the markets. I fell in love instantly and have dedicated hours on end to eventually becoming a full time trader.

    I now live in Scottsdale, AZ where I trade the index futures full time, though not my sole income as I still believe I have a lot to learn. My passion and desire to make this my career has been what drives me to keep educating myself day after day and not take any short cuts along the way because you just can’t do that with trading. I’ve seen numerous people try to get the quick route to success by buying high-dollar systems that just end up failing them. You just can’t become consistently profitable without putting in the hours and hours of hard work and research and really understanding how the markets work. Sorry to burst any bubbles out there.

    I’ve tried enough indicators, oscillators, head-and-shoulders, cup-and-handle crap out there to make my head spin. It was the beginning of summer last year that I came across a guy who’s methodology really clicked with me. Basically it was all about pure supply and demand, volume, and price action. Everything that the indicators and oscillators try to tell you, but receiving the information and putting it to use before the indicators and oscillators even know what’s goin on. After taking his course and private mentorship program my skill level has increased exponentially.

    Anyways, enough about me. I just wanted to create a journal on here to share my strategy with everyone and show just how simple and straightforward it can be and hopefully learn from you guys as well. We all lose sight of even our own rules at times so it helps me to refresh on things I haven’t touched on in a long time also.

    Making live videos of my trades has been a huge part of my growth so I will be posting as many as I can get in, but will also be posting the occasional screenshot with some notes. Alright this intro is out of hand I gotta stop…

    Enjoy and let me know if you have any questions or comments.

  2. looks like my youtube video didn't work. anyone know how to post them on here? i have another great play from today i'd like to post as well.
  3. no way, you didn't pull a darn thing out of your ass lol. I trade the NQ too and you got it brother - price action! Keep this up and you will soon be a very rich man. Don't let the lack of response discourage you from furthering the thread and videos.

  4. lol. Thanks man the encouragement is much appreciated.
  5. Watched your vids, thanks for sharing. A question of perspective. In the upward breakout of the morning range you ascribed the action to "bulls buying." Would it make a difference if it were really the collective action of limit order market makers across the NAZ 100 and in the NQ and QQQQ wanting to sell? To me it makes a difference. Then maybe you would have chosen to sell the top, especially since you were convinced it would fall back to the breakout. I must commend you for your admirable lack of any indicators whatsover on your chart.
  6. I gotta be honest with you and just say no to your question.

    And I'm not sure why you think I was convinced of it falling all the way back down to the breakout area as I never said that. If it were to keep going up then I would not have had a trade setup to take that fit my personal trading plan because there would not have been a level of previous resistance to encounter. (And this video would never have been created) But since it did RETRACE to that previous area I saw it as a highly probably scenario for price to reverse off that level given the circumstances. It's one of the simple strategies that I've had success with time and time again. To be honest I expected this thing to go much higher than it did so I'm glad I locked in profits when I did cuz I would've given it all back if I would've stayed in a few minutes longer.

    Hope I answered your questions.
  7. blox87

    blox87 Guest


    I like your thinking. I've been trading for 2 years and feel I have come to the same conclusion as you.... Focusing on price action is where it's at for me. I'm done with all the indicators. I swear I've tried 15-20 different indicators through my learning process. Clutter!

    I'm still on 1 contract and learning... Haven't lost a whole bunch, haven't made a whole bunch. I'm aiming for more consistency . While staying realistic, Keep up the positive thinking to re enforce your trading . Remember to stay persistence no matter who tells you the odds are against you.

    I wish you the best and look forward to the journal!
  8. blox,

    Great words there my man. If thats truly your mentality with the markets then I can say you're well on your way to success. Good luck out there and thanks for the kind words.
  9. Hey everyone. Crazy move today eh? I woke up kinda late but managed to get a couple trades in. First was a $90 loss due to a spike up to take my stop out. It then proceeded to tank down in the direction I anticipated but such is trading. Second play was shortly after for $180 profit. Shorted the pullback and rode the wave for a few points. The video is about 10 minutes. If it seems a little choppy in spots it's because I had to cut some wasted time out of it just to meet the requirements for youtube. Anyways, enjoy and as always let me know if you have any questions or comments.

    There are also a couple videos from a while back on my youtube channel if you guys are interested. They're from when I was pretty fresh but still a couple good examples.
    #10     Mar 26, 2010