No Brainer Trades

Quoting rogerdoger

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so those trades were exited at the max pip level then?

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Quoting Lenoxer

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Dear BRV and Thread,

May I ask a most basic question: why does S/R work at all? What is the psychology behind the trade?

Thanks very much,

Lenoxer

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Quoting rogerdoger

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I was wondering if the results posted in thread 1 for the "max pips" was the value that the trade was exited at? or if those trades with "max pips" > 250 were the trades that were stopped out at -40?

thanks in advance

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Quoting finswin56

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Depends on the individual trader. I can't speak for BRV, and I don't know that he claims to have squeezed every pip (I don't know of anyone who would make such a claim either). I believe those stats are posted to note how powerful trading like this can be.

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Quoting BillyRayValentine

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Long AUD/USD .9501 - .9488

Here's one that's a little more realistic near-term. We've got a .50 retracement and already solid s/r from the uptrend. If price goes any lower than this range its going to be down to .9478, another 10 pips, before retracing.
There is news out tonight that usually stirs the volatility pot for this pair. Just a heads up. If it spikes on the data I'm no-go on the level.

If all goes well I want to hold onto this one for a bigger-sized move, possibly right back up to those highs and then .9750, if changing market conditions allow during the time the trade is on.

Edit: There are a couple noteable upsloping, diagonal trenlines on this pair visible from the daily and weekly charts. If and when price breaks through this level, just be aware that they are there. Look for them to coincide with horizontal support and resistance if and when they hit to go long - no brainer fiesta there. Everyone is crying AUD fall using exponential indicators but I dont see it clocking in market sentiment yet. Still looking up medium term.

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Quoting BillyRayValentine

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Hi rogerdoger,
Quite simply stated no, not in all cases. The max pips column I've used to basically identify how each level reacted at each market turning point posted in the thread, and how long each position ran for before getting stopped out at -40. So for the ones that went greater than 250, they hit 250 pips without hitting a -40 pip stop loss, that's all. I was trying to be fair and also we're posting entries here not exits or stop losses, so I came up with this method for tracking as everyone's trading style and experience will dictate certain times to exit. I have certain expectations for each move; for instance, this last JPY trade, I will be the first to tell you I was only expecting appx. 80 pips at most out of it after it bounced off the lower level range, and even at that, only taking partial profit at each market obstacle. My comments earlier identifying it as a countertrend trade might or might not have made that clear but I'll try to be moreso going forward. That's why I suggest leaving a small piece of the position running well after your expectations are met, because the market surprises us all many of the times. If you take a look at a chart and view the history of each you will be able to see what I mean.

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Quoting rogerdoger

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I see, so it is up to the individual to manage the signals that you give?

When the price ranges for each entry get hit, do you usually wait to get in hoping to get a better price or do you get in immediately?

Are there people who just use a simple trailing stop to manage their positions?

How long does a typical trade last for?

Also, is there any reason why there were no trades taken from after 6/10 to 7/7?

I'm reading through this entire thread right now

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Quoting The Fxorce

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http://www.newyorkfed.org/research/e...2/0007osle.pdf
I found this article after meeting BRV. It sums up the elusive "big dog's" game plan. BRV learned to trade at major banks and all major banks trade the same way. This is it. I think the fact the article is found on the NYFed website offers about the most robust legitimacy possible and proof beyond a shadow of a doubt that this is in fact how the "big dogs" trade.

The FF mythbusters might have just squashed a commonly debated topic about how the big players actually trade; you heard it here on BRV's thread.

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Quoting BillyRayValentine

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Hi rogerdodger,
Thx for the reply. Just want to be clear that we use these trades posted to learn how to trade using these levels and nothing more.....I'm just here trying to teach others a profitable way to trade. There have been many other trades posted by other members in this thread that have turned out lots of profit, and I encourage everyone to keep posting away! We're just helping each other, thats all.

Each trade comes with its own set of boundaries, and taking profits has its own set of rules.....there have been several posts which might halp throughout the thread either posted by myself or others (Ironman specifically has some good ones take a look at his). The gap in trades is vacation time for me and working on a side project . I was thinking about posting all the trades form other members as well but the more I searched, I found a lot of ambiguity in levels discussed. But im thinking of it; it'll take some time. In regards to trailing stops I dont typically use one unless at breakeven.

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Quoting rogerdoger

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hi thanks for your reply.

do you have any estimate on how long each trade is held for?

have you found on occasion that the price breaks through the s/r level and stops you out at -40 in one go?

once the entry price is hit, do you get in immediately?

thanks again for sharing your system with us!

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Quoting Hensby

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Billyrayvalentine, thanks for your posts. I am reading through them slowly trying to adapt my trading to yours. Is the GB/US now at a price you may be looking at to go long. My reasons are that it is around a 50%-62% retracement. Is sitting on the back of a down t/line & i`m sure there is major previous support there. What do you think? And if you agree at what level would you enter?

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Quoting BillyRayValentine

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Hi Hensby, No I wouldnt enter here. The 50% has been broken clean by over 50 pips and price has continued through it a second time around. Also, s/r levels in that area are genrally weak overall. Just because we have a 50 retracement doesnt mean we trade.

Strong support and resistance is the #1 requirement. Then we look at everything else. If the fib level matches a level we picked out then all the better.

The idea is to catch these right at the market turning point, not while they are drifting, as is the case here. In other words, price comes up to a mark, hits a level and bounces right off of it, ideally to the exact pip.

I know its not the easiest concept to comprehend especially to newer traders who are flooded with info on indicators and told they are the right tools to use, which get you into trades late almost all the time or with lower probability. But again while the entry for the indicator gets signaled I'm usually taking partial profit or just closing the position.

This is zero-lag trading. We identify market turning points and enter right at them.

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Quoting BillyRayValentine

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Short EUR/USD 1.6300 area.

I hope I dont need to explain this one.

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