Price Will Tell - Supply/Demand Price Action Trading

This interview with Peter Brandt has probably been posted elsewhere on FF, but just listened to it this afternoon and thought he made (and confirmed for me) some excellent points. Well worth a listen.

Gonna use this thread as a journal on occasion, but really only when it suits.

This trade today was analysed well, entry was ok but was cleaner on M30. Been a bit of a slow day or two my side, and I missed a couple of LTF entries yesterday. I never revenge trade, but if anything, today I kept hold of this position (going for the higher swing target) instead of closing it where the market told me I should've.

If I ever put a couple of positions on I always scale out at the first point where the market tells me to. When I only trade 1 x position (as I did today), I "should" close at the first area where the market tells me to. This is in my trade plan, it's very clear, it's very clean, and it's very simple. I didn't follow that plan today. Bit of stubbornness, perhaps a bit of greed. Turned a nice winner into a b/e.

The level of discipline required in our "craft" is immense. Lose sight of it and pay the price. What I like as a day-trader, however, is that when we have to pay the price, we do so, relatively quickly.

On to the next trade

AUDCAD how now printed above .9500

Looking to buy pullbacks.

Bit of a grinder of a week my side. No major losses, no major upsets, but a failure to take as many trades as the market was offering.

Hand-written crib sheet that is always pasted to the side of the monitor indicates 13 opportunities, of which I only took 2, which is shameful. In my defence, however, 6 reasons attributed to missing setups were down to basically not watching at the time. 2 failures to take were down to technical differences on the chart, or better to say, my own misinterpretation of them. But 3 failures to take trades were just down to staring in the face of the best opportunities and not clicking the button.

Trading without indicators is difficult, but I think it's the best way. I often thought, what if one day all indicators failed for some reason, and all that was left was just price and me?

USDSGD

Had a D1 alert set at demand on this pair but it's turned on the H4 and has now printed quite a nice looking inverse H&S.

Would like to start taking more swing trades but not sure yet if these will be in the "live-learning" account, which is the only account I've ever had and pleased to say I've never blown, or perhaps take them on a demo. Stuff to think about over the weekend.

Closed USDCAD

Was punting for a little higher but opposing PA doesn't look that nice.

Been stalking this piece of dung for a few days. Oz news tonight - will probably either spike to target or drop like a stone and hit the stop.

Nice trade Simond....i'm also closing all entries on usdcad ,

Just been stopped out of this trade at b/e plus some positive swap. If it was going to go it "should" have made an assault on that blue box today, which hasn't happened. In no mood to hold over the weekend. Will come back to this pair another time.

EURCAD

Interested in longs here as it's taken out the low but reacting at H1 support.

Bought this based on some M15 PA and above reasons etc. If price comes back down and tests the low and gives some bullish signs will try and add another if possible.
Obviously if price takes out the low it will be a loss of about 30 pips.

3 x positions locked at b/e.

Now it's all down to the trading gods.

With the close of the M30 candle, all stops are moved to just below the break of that swing point.

2 X TPs set. Will trail the third position behind market structure if it sets up.

TP 1 booked

All out.

CADJPY

Initially tried to get a second position on but price didn't retrace high enough.

Closed the first and only position for just 26 pips when price touched the trendline.

Clean break & nice demand.

Hehe - tasty stuff batus.

I'm flat atm, made a point to only trade these pairs on nothing lower than M15 and didn't see any euro pa as of yet.

Are you trading every day? I like your trading style and analysis.