No Brainer Trades | Page 441 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD, USD/CHF, USD/JPY

Similar Threads

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

Attachments: No Brainer Trades
Exit Attachments

No Brainer Trades

  • #8,801
  • Feb 13, 2009 5:18am Feb 13, 2009 5:18am
Quoting Thexder
When I saw it go so fast I just let it go and when it was +40 in profit I set an auto trailing stop of 25 because it ran right into the support below 2900 round number and that prior consolidation, so anything can happen and I have to go to sleep so I will let it run.

If I gave up waiting earlier and went to bed I'd have just used the 2900 number area for a TP because it's the most reasonable spot to expect problems.
i hanged in der and jus TP-ed at 70 pips... 1.2862.. pivot level..

im so mad at myself cos i missed the GU trade... =(
  • #8,802
  • Feb 13, 2009 5:49am Feb 13, 2009 5:49am
My current short.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 17 KB
  • #8,803
  • Feb 13, 2009 5:54am Feb 13, 2009 5:54am
First TP @ 1.4500 hit for 67 pips. 40 pips locked in on second lot. targeting 1.4460
  • #8,804
  • Feb 13, 2009 6:15am Feb 13, 2009 6:15am
Quoting RedCabbage
Too many times at that level for me, but I was wrong, there were still orders to be taken out up there.
'Fraid I'm still looking at it from a technical bias rather than with a supply/demand logic. While I can get my head around the fact that sitting orders will stay in the market at a particular level for a short period of time, I still can't see why or how an order can sit in the market - unfilled - for over a week (as in this case) waiting to see 'if' the market will come back.

Don't get me wrong. I'm not disputing the methodology, I'm just trying to understand it more. It certainly makes more commercial and logical sense to me than does Elliott wave or Fibonacci. But why would there still be orders in such a volatile environment for such a long time?

Am I missing something here?

BTW. Did you go for the long in the 12270/12300 area?
RegardsPaul Eamonn
  • #8,805
  • Feb 13, 2009 6:26am Feb 13, 2009 6:26am
Quoting PaulEamonn
'Fraid I'm still looking at it from a technical bias rather than with a supply/demand logic. While I can get my head around the fact that sitting orders will stay in the market at a particular level for a short period of time, I still can't see why or how an order can sit in the market - unfilled - for over a week (as in this case) waiting to see 'if' the market will come back.

Don't get me wrong. I'm not disputing the methodology, I'm just trying to understand it more. It certainly makes more commercial and logical sense to me than does Elliott...
Ditch elliot wave use Fibo get and into Sam Seidens way of thinking as much as you can. Backtest/anaylse every move until you understand why you should have been in the position.

Price moved to fast for me to get in manually and I had no order pending, a position at almost any level in that range works.

I know you are not disputing the methodology, you just need to adopt a new mindset.
  • #8,806
  • Feb 13, 2009 6:35am Feb 13, 2009 6:35am
Quoting bumasoft
My current short.
Closed at breakeven. Didn't seem to go anywhere.
  • #8,807
  • Feb 13, 2009 6:40am Feb 13, 2009 6:40am
Quoting RedCabbage
......................you just need to adopt a new mindset.
Yeah and ain't that just the most difficult thing to do?
RegardsPaul Eamonn
  • #8,808
  • Feb 13, 2009 7:01am Feb 13, 2009 7:01am
Quoting PaulEamonn
Yeah and ain't that just the most difficult thing to do?
Were back to that light switch again.
  • #8,809
  • Feb 13, 2009 7:03am Feb 13, 2009 7:03am
Quoting bumasoft
Closed at breakeven. Didn't seem to go anywhere.
Set up was good. You did a good job there my entry would have been little higher earlier but has the same result.
  • #8,810
  • Feb 13, 2009 7:10am Feb 13, 2009 7:10am
Quoting RedCabbage
Were back to that light switch again.
I might have had a new bulb come on last night when reviewing this past week's 4 hour charts and what I did at the time compared to what I see clearly in retrospect...I need to review more but I might finally have a way to better harness the opportunities rather than flailing around when price reaches those key areas and hoping it works.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #8,811
  • Feb 13, 2009 7:25am Feb 13, 2009 7:25am
Quoting RedCabbage
Set up was good. You did a good job there my entry would have been little higher earlier but has the same result.
Thanks, RC!
  • #8,812
  • Feb 13, 2009 7:28am Feb 13, 2009 7:28am
Quoting RedCabbage
Were back to that light switch again.
LOL!!
RegardsPaul Eamonn
  • #8,813
  • Feb 13, 2009 7:31am Feb 13, 2009 7:31am
Quoting Thexder
I might have had a new bulb come on last night when reviewing this past week's 4 hour charts and what I did at the time compared to what I see clearly in retrospect...I need to review more but I might finally have a way to better harness the opportunities rather than flailing around when price reaches those key areas and hoping it works.
There's 2 approaches: -

 

  1. an order at 12300 in USDCAD would have put me in to a nice countertrend buy which I missed by trying to do it manually
  2. Manual entries based on PA at resistance will give me the best entry price and lessen the chance of price missing my order

A mixture of these 2 means you can maximise your opportunities at S/R levels.

  • #8,814
  • Edited 8:17am Feb 13, 2009 8:03am | Edited 8:17am
My NZD USD short finally started moving. It's up +25. I went short when the 4hour chart reached around 5290 previous highs. I got in a little lower in the 5260's waiting for lower time frame confirmation.

It's hard trading from work because I have only 1 monitor and I have to fumble around trying to figure out what to minimize/maximize to check the MT4 chart or my own broker java page along with whatever I'm doing. At home I have 1 monitor dedicated to just my broker screen, another for whatever charts I'm working with at the time, and one for whatever else I'm working on....and another for winamp. It was either that or leave that 4th monitor in the basement doing nothing
Attached Image
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #8,815
  • Feb 13, 2009 8:03am Feb 13, 2009 8:03am
Quoting RedCabbage
There's 2 approaches: -

  1. an order at 12300 in USDCAD would have put me in to a nice countertrend buy which I missed by trying to do it manually
  2. Manual entries based on PA at resistance will give me the best entry price and lessen the chance of price missing my order

A mixture of these 2 means you can maximise your opportunities at S/R levels.

So when you're countertrend, it's best to use limit orders and when you're with the trend, enter manually?
  • #8,816
  • Feb 13, 2009 8:08am Feb 13, 2009 8:08am
Missed my stop by 1 pip. LOL!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 14 KB
  • #8,817
  • Feb 13, 2009 8:10am Feb 13, 2009 8:10am
went short e/g
  • #8,818
  • Feb 13, 2009 8:11am Feb 13, 2009 8:11am
Quoting mattpajek
went short e/g
Good job! Good luck. I had my limit order two pips above where it reversed
  • #8,819
  • Feb 13, 2009 8:13am Feb 13, 2009 8:13am
Quoting bumasoft
Missed my stop by 1 pip. LOL!
hope it moves up because I am looking for a another short on this bad boy. Wondering if more sellers are waiting to jump in considering how it blew throught 1.4460's level. Would be looking for a short there.


Anybody else feel that?
  • #8,820
  • Feb 13, 2009 8:14am Feb 13, 2009 8:14am
Quoting islandpippin
hope it moves up because I am looking for a another short on this bad boy. Wondering if more sellers are waiting to jump in considering how it blew throught 1.4460's level. Would be looking for a short there.


Anybody else feel that?
Yup, that's where my exit would be.

LE: Actually, my exit was my stop loss...
1 trader viewing now