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No Brainer Trades

  • #9,021
  • Feb 20, 2009 8:31am Feb 20, 2009 8:31am
This is the trade I currently took ...

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  • #9,022
  • Feb 20, 2009 8:36am Feb 20, 2009 8:36am
Cought that sucker...

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  • #9,023
  • Feb 20, 2009 8:45am Feb 20, 2009 8:45am
Quoting Shermenator
This is the trade I currently took ...

Attachment
Shermenator - One quick question, as you typically only have a single line on your charts, are you looking for potential trades "on the fly" based upon S&R or do you have a historical reference of values that you cross reference to? Just curious, as most charts posted here tend to have several different S&R lines marked, but you seem to only have one (and with quite a track record I must add).

Please advise on how you're typically devising your levels, as the one you just posted can be seen on the 1 HR chart, so not sure if you had some other historical points that validated that, or any confluence factors.

Thanks.
  • #9,024
  • Feb 20, 2009 8:51am Feb 20, 2009 8:51am
I have now taken profits with 50 pips...

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  • #9,025
  • Feb 20, 2009 8:59am Feb 20, 2009 8:59am
Quoting nyjetfan
Shermenator - One quick question, as you typically only have a single line on your charts, are you looking for potential trades "on the fly" based upon S&R or do you have a historical reference of values that you cross reference to? Just curious, as most charts posted here tend to have several different S&R lines marked, but you seem to only have one (and with quite a track record I must add).

Please advise on how you're typically devising your levels, as the one you just posted can be seen on the 1 HR chart, so not sure if you had some other...

Well I actually ask myself If market makers are done hitting stop losses and then I joing them.....as well as I simply look at the level that stand out alot to me....and this one was on the 1 hour chart and and simply the way priced reacted to it...

just closed the remainder with 80 pips
  • #9,026
  • Feb 20, 2009 9:05am Feb 20, 2009 9:05am
Quoting Shermenator
Well I actually ask myself If market makers are done hitting stop losses and then I joing them.....as well as I simply look at the level that stand out alot to me....and this one was on the 1 hour chart and and simply the way priced reacted to it...

just closed the remainder with 80 pips
So in this case did you wait for price to go below your entry and then when it reacted and came back up, entered the trade?

Just trying to understand how some of the guys showing success operate, so I can try to incorporate their habits into my own trading :-)
  • #9,027
  • Feb 20, 2009 10:01am Feb 20, 2009 10:01am
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).
  • #9,028
  • Feb 20, 2009 10:20am Feb 20, 2009 10:20am
Well I am actually a stop hunter, meaning I am always trying to do the oppossite of retail . As well as I know when the market makers are running after stops so I attempt to trade like them . I can tell when the probabilties increase that they are done doing so, so once my experience indicates they are done stop hunting I trade in the direction of the real move that is trying to come ....I loose trades as well so by no means I am trying to sound like the best lol I just know when the stakes are high for me to enter the market and I fallow my plan.
  • #9,029
  • Feb 20, 2009 12:33pm Feb 20, 2009 12:33pm
Quoting orcus
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).
Sherms trades are both SS and BRV/NBT but with a market makers philosophy behind them.

The EurUsd buy trade he took today didn't consolidate at all.
  • #9,030
  • Feb 20, 2009 1:33pm Feb 20, 2009 1:33pm
Just for the record and the benefit of the new newbies, having heard rumours of the US bank problems, I made some pips this morning and decided to step aside at 3pm GMT.

Tempting though these big moves look, it's like playing chicken with express trains.

Normal service will be resumed next week.

Maybe
  • #9,031
  • Feb 20, 2009 1:56pm Feb 20, 2009 1:56pm
Quoting RedCabbage
Just for the record and the benefit of the new newbies, having heard rumours of the US bank problems, I made some pips this morning and decided to step aside at 3pm GMT.

Tempting though these big moves look, it's like playing chicken with express trains.

Normal service will be resumed next week.

Maybe

Yep my friend next week will make a kill on the markets
  • #9,032
  • Feb 20, 2009 7:08pm Feb 20, 2009 7:08pm
Hi Paul

I make an effort to update the blog regularly and will continue to do so. My primary focus is to my trading and FM clients, so time is limiting. I have been traveling a lot the past couple years, but i'm at my office for the next few months and most of this year, which is nice. So, i should have more time to submit blogs. I hope u gain some value from the information. You will be emailed when posted. I"m also considering starting a thread and submitting the info here at FF. FF is a great place to learn, explore and educate.

I wish you all good luck with your trading.
You are what you do, trade with discipline. Chris Lori, CTA
  • #9,033
  • Feb 21, 2009 4:58am Feb 21, 2009 4:58am
Quoting Houdini
Hi Paul

I make an effort to update the blog regularly and will continue to do so. My primary focus is to my trading and FM clients, so time is limiting. I have been traveling a lot the past couple years, but i'm at my office for the next few months and most of this year, which is nice. So, i should have more time to submit blogs. I hope u gain some value from the information. You will be emailed when posted. I"m also considering starting a thread and submitting the info here at FF. FF is a great place to learn, explore and educate.

I wish you...
Thanks for the message Chris and I will look forward to reading future additions to your blog. And if you do start a thread on here be sure to let us all know.
RegardsPaul Eamonn
  • #9,034
  • Feb 21, 2009 1:18pm Feb 21, 2009 1:18pm
Here is a pair I see popping up in the upcoming days back to the 8361 area

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  • #9,035
  • Feb 22, 2009 10:21am Feb 22, 2009 10:21am
Quoting Shermenator
I have now taken profits with 50 pips...

Attachment
Nice work! Thanks for sharing the images as well....these are some of my favorite setups to take also. I use macd and stoch's as well, but mostly shoot for the small scalps on 1 or 5 min charts. Either way, great trade!
  • #9,036
  • Feb 22, 2009 6:05pm Feb 22, 2009 6:05pm
Morning

Let's see if cable can make it down to the 300 area again. Also 2760 on the euro is now support
  • #9,037
  • Feb 22, 2009 6:08pm Feb 22, 2009 6:08pm
Quoting jgospoda
Nice work! Thanks for sharing the images as well....these are some of my favorite setups to take also. I use macd and stoch's as well, but mostly shoot for the small scalps on 1 or 5 min charts. Either way, great trade!
Thanks alot man...I primerly trade support and resistance and tryting to trade against retail
  • #9,038
  • Feb 23, 2009 2:47am Feb 23, 2009 2:47am
Many pairs should give great trades tonight ....many pairs are going mk levels (Money makers lol )
  • #9,039
  • Feb 23, 2009 3:32am Feb 23, 2009 3:32am
Guys watch the 1.2830 on the EUR demand level
and the 1.6912 on the GBP/CHF supply level
  • #9,040
  • Feb 23, 2009 3:47am Feb 23, 2009 3:47am
Here is my current short in the gbpjpy....

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