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No Brainer Trades

  • #8,521
  • Feb 9, 2009 1:13am Feb 9, 2009 1:13am
Quoting mattpajek
usd/jpy looks good as for long but i`ll wait till 1h bar close
From 90.91 ? or somewhere else?
  • #8,522
  • Feb 9, 2009 1:16am Feb 9, 2009 1:16am
Quoting Grath
From 90.91 ? or somewhere else?
91.31
  • #8,523
  • Feb 9, 2009 1:20am Feb 9, 2009 1:20am
Quoting Grath
From 90.91 ? or somewhere else?
I had a line at 91. Didn't see it on time though
  • #8,524
  • Feb 9, 2009 1:43am Feb 9, 2009 1:43am
Long at 1.481 in a few minutes ?
Edit: ... or a few hours maybe.
  • #8,525
  • Feb 9, 2009 2:01am Feb 9, 2009 2:01am
Quoting mattpajek
91.31
I prefer a bit more space around my trades.
  • #8,526
  • Feb 9, 2009 2:15am Feb 9, 2009 2:15am
Quoting RedCabbage
I prefer a bit more space around my trades.
So far so good
  • #8,527
  • Feb 9, 2009 2:31am Feb 9, 2009 2:31am
Quoting eswap0
I am in, short, but following a 123 pattern long term strategy.

Your comments are very clear!
I dont like setting blind entry points in long term charts, so your comments about using short term charts after identifiying critical points in long term charts are very clear and help me a lot to understand this strategy.
I really appreciate your help, thank you very much!
By the way, do you always use long term to identify opportunities and short term to set the entry points?
...Yes. **
The best results seem to be derived from S/R decision points that are blindingly obvious. If you get coincidence with calculated S/R lines, fibo confluences, established trend lines, round numbers, etc it stengthens the NoBrainer aspect. nails where the stops and limits will have naturally congregated, and where market consensus will be redetermined by the market movers. IMHO you must switch down to see the price action as the level is approached... to see how that consensus is being resolved.
Id go further and say that watching the 1m and the tic is worthwhile .. but with caution as its not for everyones psych.
Thats my understanding.. some experienced traders here may wish to add to or correct me on these thoughts.

** I would just mention that there re issues regarding your charting paackages /brokers EOD, that may effect for example, what you see on your 4h charts. This is beyond the scope of this reply.
  • #8,528
  • Feb 9, 2009 2:47am Feb 9, 2009 2:47am
Quoting cliffedwards
...Yes. **
The best results seem to be derived from S/R decision points that are blindingly obvious. If you get coincidence with calculated S/R lines, fibo confluences, established trend lines, round numbers, etc it stengthens the NoBrainer aspect. nails where the stops and limits will have naturally congregated, and where market consensus will be redetermined by the market movers. IMHO you must switch down to see the price action as the level is approached... to see how that consensus is being resolved.
Id go further and say that watching the...
Thanks a lot!
Trading: the skill of avoiding trades
  • #8,529
  • Feb 9, 2009 3:05am Feb 9, 2009 3:05am
Here is a little something for you guys to pay attention for a fact....this is a key area...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 27 KB
  • #8,530
  • Feb 9, 2009 3:12am Feb 9, 2009 3:12am
Quoting Shermenator
Here is a little something for you guys to pay attention for a fact....this is a key area...

Attachment
Thanks for the reminder, already on it - my alert from last week has just gone off.
  • #8,531
  • Feb 9, 2009 4:12am Feb 9, 2009 4:12am
any reckon i shud close out my trade now or wait for reversal?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 13 KB
  • #8,532
  • Feb 9, 2009 4:17am Feb 9, 2009 4:17am
Quoting Knightz
any reckon i shud close out my trade now or wait for reversal?
There's a simple rule for exiting trades when using s/r.
  • #8,533
  • Feb 9, 2009 4:47am Feb 9, 2009 4:47am
Heads up on 1.1500 - 1.1465 (bottom of the bucket). Might be a good no brainer and a good area to join the trend. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 20 KB
  • #8,534
  • Feb 9, 2009 4:50am Feb 9, 2009 4:50am
Quoting bumasoft
Heads up on 1.1500 - 1.1465 (bottom of the bucket). Might be a good no brainer and a good area to join the trend. What do you think?
Don't forget the round number and TL.

ETA : and FIB
  • #8,535
  • Feb 9, 2009 4:52am Feb 9, 2009 4:52am
Quoting RedCabbage
Don't forget the round number and TL.

ETA : and FIB
Got it. Thanks
  • #8,536
  • Feb 9, 2009 5:03am Feb 9, 2009 5:03am
Here is my current short ...
Keep in mind my short is adjusted to what I am trying to do

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #8,537
  • Feb 9, 2009 5:07am Feb 9, 2009 5:07am
long at 1.3005 e/u
  • #8,538
  • Feb 9, 2009 5:12am Feb 9, 2009 5:12am
Quoting Shermenator
Here is my current short ...
Keep in mind my short is adjusted to what I am trying to do

Attachment
Why short,i dont get it,it was a break thrue
  • #8,539
  • Feb 9, 2009 5:20am Feb 9, 2009 5:20am
Quoting mattpajek
Why short,i dont get it,it was a break thrue
The primery way I trade is always simply trying to trade against the retail...neither strategy is right or wrong it ll comes down to how you manage each trade once your in them....
  • #8,540
  • Feb 9, 2009 5:23am Feb 9, 2009 5:23am
Quoting RedCabbage
Don't forget the round number and TL.

ETA : and FIB
Round numbers,can you tell me some more
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