Sherm,
Are you using Skype to talk to people and help them learn?
Sorry for all the stupid questions.
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
DislikedIt's been a few days since I added anything useful so here's some levels I am keeping an eye on: -
AUDJPY
S +6149
L -5838
80+
AUSUSD
S +6851
L -6560
80+
EURGBP
S +9251-9300
L -8900+8850
EURJPY
S +12170-12262
L -11700+11645
80+
EURUSD
S +13536-13568
L -13100+13075
80+
GBPUSD
S +14744
L -14460+14428
NZDUSD
S +5660-5682
L -5439+5418
USDCAD
S +12300-12335
L -12073+12045
USDCHF
S +11250-11277
L -11100+11083
80+Ignored
DislikedI've been chasing (and trading) indicator-based systems for a long time, and am simply frustrated with the lagging nature of them.
I've also studied (and demo traded) approaches based purely on price action, with limited success.
This approach is what I've been looking for - a predictive rather than reactive approach to trading. It fits my personality and philosophy of the markets.
My only concern is that, after studying the recommended reading on page 1 of the thread, it seems that a large component of the system relies on an understanding...Ignored
DislikedJust log into bloomberg in the morning and have www.ransquawk.com on all day it's free and will teach you a lot about fundies and sentiment while you are watching the reactions in the market.
There are a lot of people on here who just trade s/r and technicals.Ignored
DislikedYep hear a bitt but make sure it never decides your trade...trade what you see not what you hear charts tell you what the news is doing...news only matters if it changes the way the market makers trade if not you get a spyke and it shoots back down to what it was doingIgnored
DislikedYes sorry I should have stressed I use it as a way of knowing what is driving some of the bigger moves and a reminder for what's coming up in the news calendar (so I Know when to avoid). Not as a trade tool.Ignored
DislikedHey it keeps you from making some bad choices and thats what matters....if you tell me you flip a quater before taking a trade and it help you to prevent a loss I will defently tell you to keep on flipping lolIgnored
DislikedQuarter flipping has a 50% chance of success - that's quite good!Ignored
DislikedOn a serious note - For those that don't know, that's why money managment works 2:1 on your risk reward means you only have to be right 50% of the time to break even, over 50% accuracy and higher RR is profit.
N.B. We're still not advocating coin flipping though.Ignored
DislikedBud actually If your profit is double your risk,you only have to be right 25 percent of the time to break evenIgnored
DislikedWe're both wrong it's 33.33%.
9 trades x 33.33% = 3 trade wins x 80 = 240
9 trades x 66.66% = 6 trade losses x 40 = 240.
Ignored
DislikedAnyone planning to sell the break of this level?
price has been around there for agesIgnored