No Brainer Trades

Quoting BillyRayValentine

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Long EUR/USD 1.5800 area

If pice makes it down there, same type of trade as the one before. This price has rarely been ignored historically, as well, so it should yield some form of a reaction.

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Quoting BillyRayValentine

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Easy Money. And I'm not just saying that. It really is here. Once you get used to this strategy I would find it hard to believe you're going back to other things. Hope you guys saw this opportunity to short EUR now. Move is on though too late to enter - my rule = never get into a trade late; enter right at the level.

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Quoting oakmac

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BRV --

I was watching this and thought to myself "this looks like a reversal back to 1.5800", but I decided not to trade because my profitable long @ 15800 trade had just got stopped out for around 35 pip profit (thank you ) and I'm trying to exercise more patience with my trading.

I'm going to wait for price to head back to 1.5800 and then make a decision from there (either enter a new long if it bounces or consider going short if it blows clear through). If it doesn't go back and touch 1.5800, at what point would you consider re-entering a long?

Or would you not consider re-entering a long and wait for the next, better setup to come along?

Many thanks for this thread and all your insights. I think between watching you pick S&R levels and emulating Jacko's patience I just might make it as a trader

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Quoting BillyRayValentine

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Easy Money. And I'm not just saying that. It really is here. Once you get used to this strategy I would find it hard to believe you're going back to other things. Hope you guys saw this opportunity to short EUR now. Move is on though too late to enter - my rule = never get into a trade late; enter right at the level.

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Quoting oakmac

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BRV --

I was watching this and thought to myself "this looks like a reversal back to 1.5800", but I decided not to trade because my profitable long @ 15800 trade had just got stopped out for around 35 pip profit (thank you ) and I'm trying to exercise more patience with my trading.

I'm going to wait for price to head back to 1.5800 and then make a decision from there (either enter a new long if it bounces or consider going short if it blows clear through). If it doesn't go back and touch 1.5800, at what point would you consider re-entering a long?

Or would you not consider re-entering a long and wait for the next, better setup to come along?

Many thanks for this thread and all your insights. I think between watching you pick S&R levels and emulating Jacko's patience I just might make it as a trader

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Quoting BillyRayValentine

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Hey there, 1.5800 could very well hold again but the best trade is always the first hit on the level. In terms of reentering a long its too soon to tell....need price action to dictate some more levels for me before considering. Just looking at the 1hr 1.5827 could fade but with lower probability.

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In regards to Jacko I have yet to read his thread but many people definitely agree that he is quite good - I need to give it a read when I get some time. You mentioned patience in regards to him. I was chatting with MaryP last night and among other things, I said that if there is any "secret" to the way I trade its patience. Patience is required for successful trading for the following:

1. waiting for the best setups and only taking those setups
2. letting a trade materialize and bring you more profits

The only part about trading where no patience is required is when you're in a losing trade. There's nothing to be patient about there. Close it asap at the best opportunity.

But ulimately, lack of patience will send you home broke and piss off your investors. So in regards to your second question, yes, I would rather wait .

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Quoting Dukeman900

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Hi to everyone, thanks BRV for the post.

Euro / USD entry 15866 was the daily low of Tuesday, I like to mark the high and low on my chart each day as the market often bounces of these points and I can see where the market is in relation to the daily trend. If it goes above my line the daily trend has changed to up. Its a visual thing.

I also use daily and weekly ranges, last 3 ranges up of each to look for a reversal high. Basically all the daily and weekly turns have a combination of these but there are quite a few. 50, 100, 150, 200, 250 % up when looking for a high. But they work.

The no brainer system allows me to pick a better entry rather than average these numbers... great, less draw down.

I have little experience with the no brainer system but have read the thread so I won't be posting unless its relevant. I traded the euro/usd bottom today... very good.

I also have reasonable success picking turning dates using Astro charts for daily / weekly reversals. If its Ok I will post these dates when a no brainer trade is on the cards and it is relevent. I believe everyone can benefit from this knowledge.

If its ok I will post addional confirmation for no brainer trades when applicable.

Its not fun having no credibility so in time I hope to show my worth.

thanks again.

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Quoting oakmac

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Thanks BRV

Hearing you confirm what I'm seeing now is a huge plus to my trading psychology and confidence. One week ago I would have felt this burning need to "be in the trade" and "see the direction." It's like in poker, you can't force hands with cards you don't have. It's better to wait until you've got the nuts and then go all-in.

Back when I used to play a lot of poker I had a sheet of paper printed on my wall that said "Hard call? Easy fold." It kept me out of a lot of trouble playing hands I had no business playing. I need to print a new sheet of paper: "Ambiguous chart? No trade."

Waiting for the no-brainers is like Warren Buffet's approach to investing --> "Swing at easy pitches."

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Quoting manistra

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Hi

I am going to short EURJPY around 167.78 (Of course if retrace does not happen earlier at
50% fib. level.) That level showed nice reaction before. Also, it is a weekly support level. Target will be 20-30 pips.

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Quoting manistra

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Hi

I am going to short EURJPY around 167.78 (Of course if retrace does not happen earlier at
50% fib. level.) That level showed nice reaction before. Also, it is a weekly support level. Target will be 20-30 pips.

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Quoting SmokeyMcPip

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Hi everyone,

I've been following this thread from the start, and feel like a bit of a freeloader for not contributing! I think this method is by far and away the best I've seen, and has firmly restored my faith in the possibility of making a regular income trading, as my entry levels have been gradually getting better with practice.....thank you BRV!!

Anyhow, thought I'd plunge in at the deep end and put a couple of charts up for gbp/usd and eur/usd:

Gbp/Usd: On a move down through 1.9957, I'd see the 1.9905-1.9896 area showing quite a bit of promise for a bounce as it ties in nicely with the 50% fibo of the last swing up on the 4hr chart. If it carries on up then looking to short off 2.0094-2.0106. 2.0106 would be 76.4 of the last 4hr run down which should make it pretty solid....I think.

Eur/Usd: On a move up I'd assume 1.5946 should be a good one to fade off again. And for a move down then either 1.5800-1.5791 again or below that 1.5760-1.5748 which I know has already been mentioned.

I'll leave it there for now anyway.....looking forward to hopefully getting more involved with this thread from now on!

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