Just thought I'd post my demo results since starting to keep detailed records on Jan-6, to share the experience of a forex/sr newbie. My "all trades" spreadsheet has every trade setup I identify, and goes by strictly mechanical rules thereafter: ...

No Brainer Trades

Gotcha. That makes more sense and is about in line with my setups. I "just" need to get better at choosing which to take when the time comes.

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There were?? People keep telling me I'm taking too many and not being selective enough in only taking the very obvious ones; I saw only one today and it was only good for 40 pips

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lol, typical -- went short on G/U @ 1.4360. Usually move stop to BE at +40, but this time moved it to BE at +20. Oanda spread immediately jumped from 3 pips to 12 pips and stopped me out. After that price dropped to +48. My own fault for not taking ...

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Stopped out on eur/jpy short of 123.65. 4hr/daily obvious SR, 61 and 76 fib confluence.

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By all means, question away! I'm here to learn.

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Life: re: gbp/jpy -- I see what you're saying. But I thought this was a pretty well-accepted method of trading breakouts, to get in on the first retrace back to the broken SR? As for price action, that is definitely an area I need a lot of work in. ...

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Thank you both for the responses. Sam: No, I wasn't at BE yet. I've only been moving to BE, and taking off half the position, at +40 pips. Looking at my spreadsheet, if I moved to BE at +20, I would knock out more winners than losers (I'll have to ...

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I'm watching 10 pairs and basing SRs off 4hr and daily charts. I know BRV had about 40 trades over three months or so, but those were only the true "no brainers", ones he felt it would be plain dumb not to take. I never got the impression that there ...

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I'm looking for that USD/CHF one as well. By the way, most of the ways I tried the trendline there would have price bouncing right off a confluence of the underside of the trendline and the SR. A little later on I might post some of my failed trades ...

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I think BRV and some of the old regulars probably just moved on. Either went their separate ways or maybe chat privately.

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From what I can tell, the majority of Shermenator's trades are the Sam Seiden supply/demand type (areas where price consolidates for awhile before blasting off) rather than the BRV NBT repeated support/resistance type (multiple bounces over time).

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I'm not RC but figured I might as well voice my thoughts -- all that really appeals to me on GBP/USD right now is a short around the 1.4340 area. Not only is there the gap, but there's plenty of reaction from that level in both directions on the ...

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Yeah, I got that one -- it really is a satisfying feeling to see price react exactly where you expect it to. After meandering down for awhile, it took a big drop -- related to Bernanke?

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Can't say I see anything there, but that's no surprise I'd like to ask if those posting levels could please give a brief explanation of their reasons; just something as quick as "support from last week, 61 fib from a few days ago". I don't think ...

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On a 4hr chart Siam's line coincides nicely with the trendline (I was actually watching 1.1635 or so as a bucket bounce in addition the trendline). edit: Actually on a daily, too, as I didn't draw the line the same way he did.

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Question for the experienced: EUR/USD -- What do you think of 1.2590? Plenty of historical bounces, currently the bottom of several buckets between Oct 24 and Nov 17. My question is how much confidence does the line lose in your eyes because of the ...

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Paul, thanks for the chart. I don't typically look on timeframes that low to identify trades, only to manage them, so that's why I missed the repeated bouncing off the 8925 area.

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Thanks for the detailed response, Paul -- exactly what I was hoping for. If you get a chance, do you think you could post a chart showing the 8925 area you say acted as a supp/demand area on Friday? I just can't seem to see it, it looks to me like ...

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Hi Paul, could you elaborate on this pick for me? Is it because of the Seiden-esque supply/demand areas around Feb 4 and Feb 10 (and other reactions in the past)? I would have thought those would not be strong picks right now, since price ignored ...

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