- | Joined Sep 2007 | Status: London | 187 Posts
Be like a post stamp! Stick to it until you get there!
No brainer fundamental trades 55 replies
This time... I'm Keeping MY MONEY (BRV - No Brainer Trades) 3 replies
The Koala System (No brainer) 127 replies
EUR/GBP SHORT for No Brainer 67 replies
Selling USD and YEN is a no brainer. 12 replies
DislikedHey Billy Ray! What do you think of this one? The trend is down. If this is the bottom and GU turns bullish from here then I would expect it to spend some time "digging out the trough"
Fundamentally the UK is crying inflation which should be bullish for the pound. But even if that is true there should be a sell trade around here somewhere. if not at this level then the next one up.Ignored
DislikedHere's a new thread with a little deeper explaination of this technique:
http://www.forexfactory.com/showthread.php?t=87869Ignored
DislikedBack in March of 1984, something happened. AUD made a high before a serious decline which hasn't been seen until now (really thought this was going somewhere didnt you). I'm expecting a reaction off this level at .9648, if AUD can crawl its way up there, which I think it eventually will.
Ironman sent me some sell side research and they are seeing resistance at .9670. Now I swear for the life of me I combed through charts and can't figure out where they got this number, because the next level I see with any significance is 1.9700. Maybe one of you could figure it out.
I dont have access to daily data back this far right now (switching from Bloomberg this week) but I should by early next week, so it might be hard for me to make a decisive call on this without sufficient information. Regardless, from the weekly charts, this area stuck pretty hard and might be worth investigating. Any thoughts please let me know.
Here's the chart from way back when on the luxurious metatrader platform:Ignored
DislikedLong USD/JPY 102.74 to 102.60
IF JPY can break past current support of 103.13, this is the next area to be looking at. You can see from the chart its been a painful zone for price on numerous occassions; many traders/banks are going to have their eyes on it.Ignored
DislikedHey Billy Ray! What do you think of this one? The trend is down. If this is the bottom and GU turns bullish from here then I would expect it to spend some time "digging out the trough"
Fundamentally the UK is crying inflation which should be bullish for the pound. But even if that is true there should be a sell trade around here somewhere. if not at this level then the next one up.Ignored
DislikedCongratulations Mary! And don't worry, we all struggle with seeing what we want to see. (I keep waiting for the AUD/USD to sell off) Time wasted on my part, since there are plenty other set ups to trade.
Also, Mary, you have another excellent point here. Control the size of losing trades. It makes them almost as good as winners. (I say almost because you can go broke taking a loss, LOL!) If your losing trades are one third to one half the size of your winning trades then you will be profitable at a 40% winning percentage.
Ex. 100 trades (Average winning trade 60 pips X 40 trades = 2,400 pips) - (Average losing trades 30 pips x 60 trades = 1,800 pips) Total net pips = +600
or
Ex. 100 trades (Average winning trade 60 pips X 40 trades = 2,400 pips) - (Average losing trades 20 pips x 60 trades = 1,200 pips) total net pips = +1,200
Elementary, I know, but we often forget these things in the heat of battle. It is something worth tracking in a note book or on a spreadsheet because it is the first step in consistency. (that whole crawl, then walk thing.)
And of course, once anyone is steady at that level there's no law against refining and improving our winning percentage. Consistency is the key.
Keep up the good work, Mary!Ignored
DislikedLong USD/JPY 102.74 to 102.60
IF JPY can break past current support of 103.13, this is the next area to be looking at. You can see from the chart its been a painful zone for price on numerous occassions; many traders/banks are going to have their eyes on it.Ignored
DislikedBilly Ray,
Based on your S/R method as explained earlier, with today's down move of the Euro, am I right in looking at the 1H chart and seeing a possible bounce long at the .5685-.5675 level? This seems to meet your criteria and is move with the trend. Do you concur?Ignored
DislikedLong USD/JPY 102.74 to 102.60
IF JPY can break past current support of 103.13, this is the next area to be looking at. You can see from the chart its been a painful zone for price on numerous occassions; many traders/banks are going to have their eyes on it.Ignored
Dislikedabout GU, theres a really strong support lvl at 1.9361 and has bounced a couple of times, and its forming a descending triangleIgnored