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No Brainer Trades

  • #10,021
  • Mar 26, 2009 7:58am Mar 26, 2009 7:58am
Quoting Concept
Ic... I went long GBP/USD at 4571 and I am up 25 pips atm...
What do you mean by 'condition'?

Wellit comes out to the how the market has been reacting to certain levels today as well as the speed I got from the level once it go impacted ...also when I took my first short news was around but I knew I could rob some....
  • #10,022
  • Mar 26, 2009 8:11am Mar 26, 2009 8:11am
long 4562,tp 4612, sori 4 d later posting
  • #10,023
  • Mar 26, 2009 9:02am Mar 26, 2009 9:02am
When you see it do crap like this you simply stop trading the 1 hour chart and jump up a timeframe...the market is changing sentiment very fast for this time frame screwing everyone in it...adjust to the conditions ...

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  • #10,024
  • Mar 26, 2009 9:03am Mar 26, 2009 9:03am
PastorK, Why did you enter long at that price? I'm just curious b/c I don't have that level marked as a Support/Resistance....are you using your own setup or consider that trade a "no brainer"?? I"m currently sitting on the sidelines on G/U myself....


happy pipping
  • #10,025
  • Mar 26, 2009 9:04am Mar 26, 2009 9:04am
What is Your suggestion for this one ?

Thank You.

Best,
Tom
  • #10,026
  • Mar 26, 2009 9:25am Mar 26, 2009 9:25am
current sort I amin long term trade though...

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  • #10,027
  • Mar 26, 2009 9:29am Mar 26, 2009 9:29am
Quoting Shermenator
When you see it do crap like this you simply stop trading the 1 hour chart and jump up a timeframe...the market is changing sentiment very fast for this time frame screwing everyone in it...adjust to the conditions ...

Attachment
so how do you handle that?
  • #10,028
  • Mar 26, 2009 9:50am Mar 26, 2009 9:50am
Startlooking for longs at around 4400

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  • #10,029
  • Mar 26, 2009 11:47am Mar 26, 2009 11:47am
What you said makes pretty good sense Shermenator. I am just curious about one thing (I dont even know if has any value to this trading method).
Say for arguements sake that the GBPUSD is trending up for the day/week on the 1hr but there isnt anything exciting going on.

So I go to the 4hr(because thats the longest time frame I am willing to look) and noticing that it is trending up as well for the week.

Or I go to a lower time frame say 15m and its trending down.

Do these different time frames trending in different directions affect your choice of trading or not?

I am thinking that this is pulling away from the 'No Brainer' trading style... but not too sure. Im still a newb!
  • #10,030
  • Mar 26, 2009 12:13pm Mar 26, 2009 12:13pm
Quoting Concept
What you said makes pretty good sense Shermenator. I am just curious about one thing (I dont even know if has any value to this trading method).
Say for arguements sake that the GBPUSD is trending up for the day/week on the 1hr but there isnt anything exciting going on.

So I go to the 4hr(because thats the longest time frame I am willing to look) and noticing that it is trending up as well for the week.

Or I go to a lower time frame say 15m and its trending down.

Do these different time frames trending in different directions affect your...
Most people here probably have their own version and trade the 'no brainer' style in their own way. I wouldn't worry about pulling away from it, I would actually encourage you to trade the no brainer principals in a way that you are comfortable with. If you look throughout the course of the thread, you'll find that some people use indicators, some people only trade the daily chart, some people scalp the 15 minute charts, but at the core of their trading is S/R.

I know one style or method of trading that a lot of people use (and I'm going to be very general here) is to try to always trade in the direction of a longer timeframe (whether that is weekly, daily, 4hr, 1hr, etc.), and utilize the shorter timeframes for entry. As an example, maybe you determine on the 4HR timeframe what the long term trend is (you could do this in multiple ways, trendlines, channels, MAs, etc.). If the trend is up, you want to be buying. So say you zoom down to a 30 or 15m chart, and the trend on that timeframe is down, then you are going to be looking for a good opportunity to buy a reversal on the lower frame, essentially buying the pullback, and you are just looking to minimize your drawdown with a good entry.

Hope this helps.
  • #10,031
  • Mar 26, 2009 12:32pm Mar 26, 2009 12:32pm
Quoting jchronic34
PastorK, Why did you enter long at that price? I'm just curious b/c I don't have that level marked as a Support/Resistance....are you using your own setup or consider that trade a "no brainer"?? I"m currently sitting on the sidelines on G/U myself....


happy pipping
hi jchronic there has been price action at that level of recent and i do believe when the market is ranging like it has been doing of recent,these levels are always respected till there is a breakout
  • #10,032
  • Mar 26, 2009 12:39pm Mar 26, 2009 12:39pm
Yes that really helps! I figured that there would be variations of this no brainer. I just figured that K.I.S.S. is the better way to keep it rather than flooding it with indicators... But like you said to each their own!

Thanks a bunch
  • #10,033
  • Mar 26, 2009 12:43pm Mar 26, 2009 12:43pm
Quoting smittens4212
Most people here probably have their own version and trade the 'no brainer' style in their own way. I wouldn't worry about pulling away from it, I would actually encourage you to trade the no brainer principals in a way that you are comfortable with. If you look throughout the course of the thread, you'll find that some people use indicators, some people only trade the daily chart, some people scalp the 15 minute charts, but at the core of their trading is S/R.

I know one style or method of trading that a lot of people use (and I'm going to be...
Hi Smittens

Drop me a PM or Yahoo IM through my profile. Your account doesn't allow me to send you anything.
  • #10,034
  • Mar 26, 2009 1:09pm Mar 26, 2009 1:09pm
Quoting Concept
What you said makes pretty good sense Shermenator. I am just curious about one thing (I dont even know if has any value to this trading method).
Say for arguements sake that the GBPUSD is trending up for the day/week on the 1hr but there isnt anything exciting going on.

So I go to the 4hr(because thats the longest time frame I am willing to look) and noticing that it is trending up as well for the week.

Or I go to a lower time frame say 15m and its trending down.

Do these different time frames trending in different directions affect your...
You see when I trade I have no bias ...I just know each timeframe has its own trend so if I whant to time a larger timeframes trend I can do that as well as if I whant to trade the timeframe of its own I can do that as well...the most important thing to me is if the trade is a bargain in relativity to a movement. Thats why many times I have trades in both directions but with different lot size and stop losses...the market is to large to simply trade 1 agenda
  • #10,035
  • Mar 26, 2009 1:11pm Mar 26, 2009 1:11pm
Quoting Shermenator
Startlooking for longs at around 4400

Attachment
Ugh, I've been waiting for this level all week!

Right with you, watching, waiting. Maybe this hour, we'll get down there, before the US session closes.
  • #10,036
  • Mar 26, 2009 1:35pm Mar 26, 2009 1:35pm
Man I sure wish I could have access to my charts at work! Maybe in the near future!
  • #10,037
  • Mar 26, 2009 2:29pm Mar 26, 2009 2:29pm
Quoting sam0182
Ugh, I've been waiting for this level all week!

Right with you, watching, waiting. Maybe this hour, we'll get down there, before the US session closes.
I've been looking at this with Sherm, and it is valid but be careful, Cable has been really choppy today.
  • #10,038
  • Mar 26, 2009 2:36pm Mar 26, 2009 2:36pm
hi red,sherm.was thinking of going long from 4380 but dats 70pips away now.is there a chance dat level gets hit?
  • #10,039
  • Mar 26, 2009 2:43pm Mar 26, 2009 2:43pm
Quoting mikeokino
hi red,sherm.was thinking of going long from 4380 but dats 70pips away now.is there a chance dat level gets hit?
14400 could well deliver today but I'm waiting for 14340-14300 which is a 38Fib on daily and 4hr.

Cable has been blowing in all directions, I want it to get into some space.

14380 is definitely 4hr support though.
  • #10,040
  • Mar 26, 2009 2:50pm Mar 26, 2009 2:50pm
This are the only levels I would consider anything ...keep in mind the time of the day . By fallowing this thinking I would not take 1.4392 at this time of the day ...but the 4300 I would take at this time of the day...

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