No Brainer Trades | Page 469 | 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

  • #9,361
  • Mar 2, 2009 3:17pm Mar 2, 2009 3:17pm
Quoting Shermenator
Yep bud ....I will be watching that...be aware of the conditions and how price is traveling to it...it should give some good pips...I will decide to take it or not depending on the time of the day and like I said how it gets to it
Sounds good Sherm.

I'm looking to scale in 2-3 smaller positions as there is a bit of a range of resistance
  • #9,362
  • Mar 2, 2009 3:26pm Mar 2, 2009 3:26pm
GL sam, I'll be out of the way soon <Againstallodds
  • #9,363
  • Mar 2, 2009 3:33pm Mar 2, 2009 3:33pm
Quoting Jlr
GL sam, I'll be out of the way soon <Againstallodds
Haha, glad to see you here!

Yeah, please close your market moving long just short of 1.30 so we can all sell, mmk?

  • #9,364
  • Mar 2, 2009 3:39pm Mar 2, 2009 3:39pm
Quoting sam0182
Haha, glad to see you here!

Yeah, please close your market moving long just short of 1.30 so we can all sell, mmk?

more then happy if it can get there
  • #9,365
  • Edited 4:28pm Mar 2, 2009 4:11pm | Edited 4:28pm
Quoting sam0182
Sounds good Sherm.

I'm looking to scale in 2-3 smaller positions as there is a bit of a range of resistance

Yep try and get in at least closer to toyko open so you at least get the overalp of sydney in it....also the only reason why I could say its an ok level to get in prior to the european session is simply because the magnitude of the level. Meaning that even thought people remove limit orders during the low volume time of the day their should still be enough at it to react. I will only take a trade during a low volume part of the day if the level is an almighty one lol
  • #9,366
  • Edited 4:28pm Mar 2, 2009 4:12pm | Edited 4:28pm
Quoting Shermenator
Yep try and get in at least closer to toyko open so you at least get the overalp of sydney in it....also the only reason why I could say its an ok level to get in prior to the european session is simply because the magnitude of the level. Meaning that even thought people remove limit orders during the low volume time of the day their should still be ebought at it to react. I will only take a trade during a low volume part of the day if the level is an almighty one lol
Also if you are going to take a trade during the Tokyo/ Sydney session try and trade if anything the Yen pairs and the Aud pairs...
  • #9,367
  • Mar 2, 2009 4:26pm Mar 2, 2009 4:26pm
Quoting Shermenator
Yep try and get in at least closer to toyko open so you at least get the overalp of sydney in it....also the only reason why I could say its an ok level to get in prior to the european session is simply because the magnitude of the level. Meaning that even thought people remove limit orders during the low volume time of the day their should still be ebought at it to react. I will only take a trade during a low volume part of the day if the level is an almighty one lol
Gotcha, your reasoning for exception makes sense.
  • #9,368
  • Mar 2, 2009 5:39pm Mar 2, 2009 5:39pm
The USD/CAD around 1.3 is the kind I have not yet had the confidence to take -- it's already bounced from there 3 times; what are some things you look at to judge whether or not there's a good chance of a 4th strong bounce? I assume the significant amount of time that's passed since the last bounce is one...
  • #9,369
  • Mar 2, 2009 5:45pm Mar 2, 2009 5:45pm
Quoting orcus
The USD/CAD around 1.3 is the kind I have not yet had the confidence to take -- it's already bounced from there 3 times; what are some things you look at to judge whether or not there's a good chance of a 4th strong bounce?
Trend line gap is one thing I look at...we've been rallying pretty hard and whether 1.3 provides a 50 point bounce or 500, I do believe there will be some sort of retrace at that number.

All of that being said, we rallied 2000 points on the fourth test & break of 1.08 in October, so... We will see.
  • #9,370
  • Mar 2, 2009 5:50pm Mar 2, 2009 5:50pm
Morning,

1.2512 is a level to watch out for on the Euro this morning.

Attached Image (click to enlarge)
Click to Enlarge Name: sr43.gif Size: 30 KB
  • #9,371
  • Mar 2, 2009 6:36pm Mar 2, 2009 6:36pm
Quoting Siam
Morning,

1.2512 is a level to watch out for on the Euro this morning.

just placed a sell stop at 1.2530, s/l at 1.2579, and t/p at 1.2525

trying to dab my feet in a little bit

let me know what you guys think about my stupid/okay/great order
  • #9,372
  • Mar 2, 2009 6:39pm Mar 2, 2009 6:39pm
Quoting prelude
just placed a sell stop at 1.2530, s/l at 1.2579, and t/p at 1.2525

trying to dab my feet in a little bit

let me know what you guys think about my stupid/okay/great order

Hey Prelude,
Maybe if you post a chart and the reason as to why you took the trade we can give you an opinion.

Cheers.
  • #9,373
  • Mar 2, 2009 6:54pm Mar 2, 2009 6:54pm
^^^ I think he's looking for a breakout of the area you posted above.

edit: Just noticed a 5 pip TP and a 49 pip SL???
  • #9,374
  • Mar 2, 2009 8:57pm Mar 2, 2009 8:57pm
hey guys,

okay let me explain my rationale....

i opted to sell, because the major trend was down

i opted to sell at that specific level, because it was just below my support line, which i believed would be broken, looking at the 200 SMA which was heading down

the 5 pip t/p was made because, at this point, my logic is if i get ANYTHING, i'm happy.

the massive s/l to me is just a 'room for improvement' zone which gives my trade some room to go up before i get my t/p

mind you, im just a noob trying to test the market right now.

I attached my daily chart and 4h chart. The yellow boxes show the pin bars, while the blue ones show double/triple bars.

I posted this trade because i know that most likely im going to end up wrong, and that's why i would love some collective opinions as to what i could do to fix my approach next time

edit: thank god it didnt end up hitting my stop sell, because the bar is rallying up on the 4h tf. oh also i forgot to mention the diagonal blue lines are my linear regression channel
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gfhgh.gif Size: 29 KB
Click to Enlarge Name: gfhgh4.gif Size: 28 KB
  • #9,375
  • Mar 2, 2009 9:58pm Mar 2, 2009 9:58pm
Prelude, I'll let the more experienced guys critique the trade itself, but I'll just say that aiming for 5 pips is a very bad idea. You could win 9 of those trades in a row and still end up a loser if the 10th trade hits your 49 pip SL.
  • #9,376
  • Mar 2, 2009 10:19pm Mar 2, 2009 10:19pm
Quoting orcus
Prelude, I'll let the more experienced guys critique the trade itself, but I'll just say that aiming for 5 pips is a very bad idea. You could win 9 of those trades in a row and still end up a loser if the 10th trade hits your 49 pip SL.
yeah, believe me i definitely see what you mean

i was just testing the trend and was pretty sure it'd go down. the 49 stop loss was just room for the drawdown.
  • #9,377
  • Mar 2, 2009 10:26pm Mar 2, 2009 10:26pm
The 125.13 area looks abused. With global stock markets getting trashed, we could see a "flight to quality" dollar rally. The 127.35 level on prelude's chart looks like a good place to short.
  • #9,378
  • Mar 2, 2009 10:38pm Mar 2, 2009 10:38pm
Quoting racetrack
The 125.13 area looks abused. With global stock markets getting trashed, we could see a "flight to quality" dollar rally. The 127.35 level on prelude's chart looks like a good place to short.
Hi,

That level might well go and if price action around it dictates a break then so be it. But forgive me if I'm wrong if that level does indeed go with all the abuse it's taken and $ strenghth is all accross the board as you predict 127.35 is in the opposite direction to what you are stating.

Anyway I agree if it does make it up to that level today then it's a good place to look for shorts.
  • #9,379
  • Edited 11:29pm Mar 2, 2009 10:44pm | Edited 11:29pm
Seems lke we will get good setups tonight...let the market mature a bitt and go to major levels...make sure the pair is in a clear direction and no rangy market...if its in a range dont try and figure out how its going to break out instead look at another pair that looks obvious what its going to do ...
  • #9,380
  • Mar 2, 2009 10:45pm Mar 2, 2009 10:45pm
Quoting racetrack
The 125.13 area looks abused. With global stock markets getting trashed, we could see a "flight to quality" dollar rally. The 127.35 level on prelude's chart looks like a good place to short.
Are you talking about euro/yen? And why do you say that level is abused?
41 traders viewing now