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No Brainer Trades

  • #4,141
  • Oct 8, 2008 10:37am Oct 8, 2008 10:37am
Quoting BillyRayValentine
hahahaha yeah if there's ever a Land of Forex I'de be honored, but until then I'm waiting for the glory to arrive. In the meantime I'm just here to try to help. Thanks again guys.
can not open your blog,why?
  • #4,142
  • Oct 8, 2008 11:44am Oct 8, 2008 11:44am
Long gbp/usd @1.7277 -- this is going to be a nailbiter!!
  • #4,143
  • Oct 8, 2008 11:54am Oct 8, 2008 11:54am
Hi Billy Ray,

Pat yourself on your back BR, better still have a beer and a knees up! There is pure adulation by all who apply your methodology and work this thread, does not get much better than this, it's tremendous work...thankyou. Oh, Great Blog too! Cheers
  • #4,144
  • Oct 8, 2008 12:04pm Oct 8, 2008 12:04pm
i said it all
  • #4,145
  • Oct 8, 2008 12:14pm Oct 8, 2008 12:14pm
Quoting pipeye
Long gbp/usd @1.7277 -- this is going to be a nailbiter!!
1.7270 posted on the blog - there's 60-something pips...go team
  • #4,146
  • Oct 8, 2008 12:35pm Oct 8, 2008 12:35pm
Hi BRV,

thank you for your posts , I'm a dedicated reader of your blog and really enjoy it .

although I read your posts in the first page , I have some questions -

- in your blog you put everyday those buy\sells levels , is it the daily support&resistance?

- should I enter a trade each time price is touching those levels?

- what is your recommendation for a stop size?

- I understands that you r taking profits after 20 pips ? or just move the stop to break even after 20 pips ?

- as I read on one of the posts , you are taking some trades for over 150 pips , how do you determine which trade is only good for 20 pips or so and which for 150 ? and how you manage a 20\150 pips trade ?

I guess that it for now , hope it's not a trouble ..

thanks,
Barak
  • #4,147
  • Oct 8, 2008 12:48pm Oct 8, 2008 12:48pm
Quoting albashir
while every one is hapily making money I'm poorly losing the litu I af....goosh wat do i read...tot
For starters, maybe you could concentrate yourself on one pair only (EUR/USD for example) and trade the most obvious levels. Limit yourself to watching the Calendar only and stay away during the market moving news.

I'm not doing much more either and so far so good. I'm not making a killing, but on average 20 pips/day. I'm happy with that for now, but I will work on consistently earning 120 pips/week.
  • #4,148
  • Oct 8, 2008 1:34pm Oct 8, 2008 1:34pm
Super powers flex their wings… hold the world on puppet strings...
Egos will feed… while citizen bleed…
It´s always the way it goes…
But when will the world listen to reason I´ve the feeling it´ll be long time …
When will the truth come into season I´ve the feeling it´ll be long time…
  • #4,149
  • Oct 8, 2008 1:41pm Oct 8, 2008 1:41pm
Quoting Barak's pip
Hi BRV,

thank you for your posts , I'm a dedicated reader of your blog and really enjoy it .

although I read your posts in the first page , I have some questions -

- in your blog you put everyday those buy\sells levels , is it the daily support&resistance?

- should I enter a trade each time price is touching those levels?

- what is your recommendation for a stop size?

- I understands that you r taking profits after 20 pips ? or just move the stop to break even after 20 pips ?

- as I read on one of the posts , you are taking some trades for over 150 pips , how do you determine which trade is only good for 20 pips or so and which for 150 ? and how you manage a 20\150 pips trade ?

I guess that it for now , hope it's not a trouble ..

thanks,
Barak
Hey Barak

On the first page of the this thread there are many different links that explain the whole method in full by Ironman and Billly Ray. I think you will find all your questions and more answered in there.

Happy Pippin!
Time hides Nothing
  • #4,150
  • Oct 8, 2008 2:16pm Oct 8, 2008 2:16pm
Quoting Barak's pip
Hi BRV,

thank you for your posts , I'm a dedicated reader of your blog and really enjoy it .

although I read your posts in the first page , I have some questions -

- in your blog you put everyday those buy\sells levels , is it the daily support&resistance?

- should I enter a trade each time price is touching those levels?

- what is your recommendation for a stop size?

- I understands that you r taking profits after 20 pips ? or just move the stop to break even after 20 pips ?

- as I read on one of the posts , you are taking some trades for over 150 pips , how do you determine which trade is only good for 20 pips or so and which for 150 ? and how you manage a 20\150 pips trade ?

I guess that it for now , hope it's not a trouble ..

thanks,
Barak
Hi Barak!

Every question was already answered by BillyRay, but until he answers you personally or directs you to his posts, here is something what might help:

1) Some are intraday levels are some are the "true" no brainers - you will find those on greater timeframes.

2) It depends from the current market conditions/sentiment. This is something that BillyRay often points out.

3) BRV's default stop loss is 40 pips, but if the price doesn't act the way he would like it, he will close the trade manually before reaching 40 pip SL.

4) After 15-20 pips he will move his SL to break even and maybe sell some lots and let the remaining position in the trade. Selling of the remaining position would occur at "obstacles" (S&R levels, trendlines or news)

5) You can read a nice post about this question in the PDF - I think it's called "How Long Will the Move Last?". Iron-man also made a nice post about it.

Hope this helps and happy trading!
  • #4,151
  • Oct 8, 2008 2:20pm Oct 8, 2008 2:20pm
Quoting CindyXXXX
Hey Barak

On the first page of the this thread there are many different links that explain the whole method in full by Ironman and Billly Ray. I think you will find all your questions and more answered in there.

Happy Pippin!
hi Cindy , thanks for replying - I read the links on the first post of BRV in this thread - but did not find answers to the questions I asked , will you be so kind and reffer me to the relevant link ?

thanks,
Barak.
  • #4,152
  • Oct 8, 2008 2:55pm Oct 8, 2008 2:55pm
Hello,

I'm totally new to this thread. Just stumbled upon it. Seems very interesting. Is this a system or more of a discussion thread? Sorry if that is a stupid question. I'm new to this. I don't post much but I think I have finally found something I like with this thread.
  • #4,153
  • Oct 8, 2008 3:02pm Oct 8, 2008 3:02pm
Quoting hendrix
Hi Barak!

Every question was already answered by BillyRay, but until he answers you personally or directs you to his posts, here is something what might help:

1) Some are intraday levels are some are the "true" no brainers - you will find those on greater timeframes.

2) It depends from the current market conditions/sentiment. This is something that BillyRay often points out.

3) BRV's default stop loss is 40 pips, but if the price doesn't act the way he would like it, he will close the trade manually before reaching 40 pip SL.

4) After 15-20 pips he will move his SL to break even and maybe sell some lots and let the remaining position in the trade. Selling of the remaining position would occur at "obstacles" (S&R levels, trendlines or news)

5) You can read a nice post about this question in the PDF - I think it's called "How Long Will the Move Last?". Iron-man also made a nice post about it.

Hope this helps and happy trading!
thanks for answering ,

I appreciate it - can u reffer me to that pdf you mentioned ?

and concerning that sells\buys levels , as you will see in the attachment , the buy levels BRV gave today in his blog for usd\chf (pink) - my question is why those are the buys and not other support levels like the green lines ,

I'm trying to learn and catch up , since I discovered this beautifull thread just recentlly.

thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: $$$.gif Size: 40 KB
  • #4,154
  • Oct 8, 2008 3:17pm Oct 8, 2008 3:17pm
Quoting Barak's pip
thanks for answering ,

I appreciate it - can u reffer me to that pdf you mentioned ?

and concerning that sells\buys levels , as you will see in the attachment , the buy levels BRV gave today in his blog for usd\chf (pink) - my question is why those are the buys and not other support levels like the green lines ,

I'm trying to learn and catch up , since I discovered this beautifull thread just recentlly.

thanks.
Here is the PDF again.. er if I've done it right that is!
Attached File(s)
File Type: pdf BRV_S+R_Trading_210808.pdf   879 KB | 1,316 downloads
  • #4,155
  • Oct 8, 2008 3:38pm Oct 8, 2008 3:38pm
Quoting PippinL
Here is the PDF again.. er if I've done it right that is!

thanks man ,I really appriciate your help
  • #4,156
  • Oct 8, 2008 4:52pm Oct 8, 2008 4:52pm
[quote=BillyRayValentine;2266576]I've been meaning to write this for a while. Needless to say its on the blog....those on the list might have seen it already. Its in response to one of the most common questions I get about sentiment and fundamentals, and how to use them.
--------------


Great article
The journey to my destination is pure fun
  • #4,157
  • Oct 8, 2008 6:30pm Oct 8, 2008 6:30pm
hey BRV,

how can I know which one of the buy\sells levels that you post daily on your blog is for long \ short term ?

since I check it every day, I thought it will be usefull to know.

thank you so much.

your friend ,
Barak
  • #4,158
  • Oct 8, 2008 6:48pm Oct 8, 2008 6:48pm
Quoting Barak's pip
hey BRV,

how can I know which one of the buy\sells levels that you post daily on your blog is for long \ short term ?

since I check it every day, I thought it will be usefull to know.

thank you so much.

your friend ,
Barak
Quote by BRV:"Long-term support and resistance levels can be distinguished on a 1-hour or greater
timeframe. I typically start with a 4-hour chart and scroll down or up depending on the situation."
Also..."Near-term support and resistance occurs when a previous level is breached, and that support
(or resistance) level acts as a resistance (or support) level. The best timeframe to view these
on is 1-hour or less. Starting with a 1-hour chart, work your way down to smaller timeframes,
paying close attention to the points of support and resistance on the last wave moving
countertrend to the current one. 1-hour charts sometimes cover up these areas, requiring a
30-min or 15-min chart to view them properly."

If u're still confused, here's is my own answer to your question, draw your support or resistant (or diagonal) line around any of those price mentioned by "Daddy BRV" and you will see what price has been pipin.
Respect a man, and he will do all the more.
  • #4,159
  • Oct 8, 2008 7:11pm Oct 8, 2008 7:11pm
This may result in the Mother of all bounces, as we have a confluence of support between 1.7025 and 1.7055. Not to mention, this sucka is so due for a massive correction!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 28 KB
  • #4,160
  • Oct 9, 2008 1:27am Oct 9, 2008 1:27am
Quoting Barak's pip
thanks for answering ,

I appreciate it - can u reffer me to that pdf you mentioned ?

and concerning that sells\buys levels , as you will see in the attachment , the buy levels BRV gave today in his blog for usd\chf (pink) - my question is why those are the buys and not other support levels like the green lines ,

I'm trying to learn and catch up , since I discovered this beautifull thread just recentlly.

thanks.
Both are valid. But his levels are a bit more "obvious". But that does not mean that you can't trade your levels as well.

I am now trading EUR/USD only (as 90% of my trades were anyway on this pair) and I frequently trade M15 and M30 S&R's. These also tend to work, but generally speaking, these levels should proved smaller profits than those from the bigger time frames (1H, 4H, D1, etc.)

It's all in his post about long-term (1H, 4H, D1) and near-term (intraday) trading (1H, M30, M15).

It's in the PDF and there are links on the first page of this thread.
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