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No Brainer Trades

  • #10,061
  • Mar 26, 2009 10:13pm Mar 26, 2009 10:13pm
There'll be a lot of people looking to short at 1.4412 ish. What sort of stops are you guys using? 40 pips or a bit tighter?
Cheers
FF journal: Peaks and Troffs
  • #10,062
  • Mar 26, 2009 10:19pm Mar 26, 2009 10:19pm
Attached Image


is anyone looking for long at 1.2220 usd/cad ?
I draw a line for u... a support line.. not a resistance one..
  • #10,063
  • Mar 27, 2009 12:23am Mar 27, 2009 12:23am
Welcome Ferrari! Im a Lamborghini owner.
  • #10,064
  • Mar 27, 2009 1:00am Mar 27, 2009 1:00am
Hey diablo

AUDUSD asian session bounce off yesterdays low.

http://img216.imageshack.us/img216/4402/aud27mar09.png
  • #10,065
  • Mar 27, 2009 2:20am Mar 27, 2009 2:20am
Quoting Tori
I am posting gbpusd and my targets. I am up a little way at the moment so will sit on it. I think it looks like head and shoulders.
Attachment
Yep just be aware that we getting into the daily retracement levelsso we can still short but pay attention closesly because I am preety sure that whole move up will have intrest to some of the largertimeframe guys. Meaning move stop to break even fast because to them you will be counter trending ...even though to a 4 hour chart trader your trendtrading ....the trend is your friend thing is crap lol every single time you pull the trigger everyone is taking a trend trade from some time frame .
  • #10,066
  • Mar 27, 2009 2:55am Mar 27, 2009 2:55am
You see today is a day I dont know what the dollar will do . Reason are we dont know if this last psuh of dollar strenght is the new sentiment in the market or simply a retracement to the strong loss of strenght of the dollar. As traders we simply have to adapt and react to what the market is doing and not have a bias. Having a bias will simply cover your thinking from pushing the button into a certain direction. All I know is today I will go what ever way the market whants to go .
  • #10,067
  • Mar 27, 2009 2:59am Mar 27, 2009 2:59am
hello sherm.your short on uj was great, u would have been over a 100 pips if you didnt close the trade. i have read the no brainer pdf many times but picking the levels has been the major challenge.i understand its not just R1,R2,R3 or S1,S2,S3 but with other characteristics.please do coach me on how you do this.am on skype, mike.okino
  • #10,068
  • Mar 27, 2009 3:01am Mar 27, 2009 3:01am
Quoting Shermenator
You see today is a day I dont know what the dollar will do . Reason are we dont know if this last psuh of dollar strenght is the new sentiment in the market or simply a retracement to the strong loss of strenght of the dollar. As traders we simply have to adapt and react to what the market is doing and not have a bias. Having a bias will simply cover your thinking from pushing the button into a certain direction. All I know is today I will go what ever way the market whants to go .
So what does all this crap that I am saying mean to us as a trader?...

That we have to be in our toes in any postion taking . By this it means that if you take a trade in any direction you whant to move your stop to break even at a faster pace simply because we are not oracles and we dont know what the sentiment in the market is untill it takes place. So you dont whant your account to feel the sentiment changes lol and then you get screwd and blame it on the system. Every system is the same and they all fail when the conditions change but traders concentrate so much on the signal that they forget about what the market is doing. This are some of the few things I consider before ever taking a trade . Hope this helps in a way
  • #10,069
  • Mar 27, 2009 3:25am Mar 27, 2009 3:25am
sherm please do respond to my post
  • #10,070
  • Mar 27, 2009 3:34am Mar 27, 2009 3:34am
Alright I am short in this thing...will move stop to break even extremly fast....

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  • #10,071
  • Mar 27, 2009 3:42am Mar 27, 2009 3:42am
Out at break even not giving me the momentum I am looking for in the market...I will get thismarket later on ....

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  • #10,072
  • Mar 27, 2009 3:46am Mar 27, 2009 3:46am
Quoting mikeokino
sherm please do respond to my post

You see all of you tend to pick correct horizontal lines...you guys know areas of supply of demand and supply. Your flaw is that you guys are not paying attention to the market conditions and what the sentiment in the market is. The market is not mechanical ... You also have to ask yourself what type of reaction is expected from the level and this comes with experience. I dont always use limit orders , sometimes market orders or even stop orders . With time all this variables come together. Pick the levels that look amazing and stick with only those. Keep the level far from current price so price gets tired in either direction. This is one of the simplest way to start improving the hit rate. The closer you get to price the more experience you need and the more you have to be in aling with sentiment.
  • #10,073
  • Mar 27, 2009 4:19am Mar 27, 2009 4:19am
As discussed yesterday 14400 has given a 40+ pip reaction but if you look at the 5min it shows just how choppy this pair is.

You would have to be pretty quick on the trigger to get in and out successfully.
  • #10,074
  • Mar 27, 2009 4:22am Mar 27, 2009 4:22am
Quoting mikeokino
hello sherm.your short on uj was great, u would have been over a 100 pips if you didnt close the trade. i have read the no brainer pdf many times but picking the levels has been the major challenge.i understand its not just R1,R2,R3 or S1,S2,S3 but with other characteristics.please do coach me on how you do this.am on skype, mike.okino
I was waiting for USDJPY hit 98.90, it didn't, but i took the trade when it hit 85 for 2nd time, so opened position around 80... Had to go to sleep so set trailing stop to 35 and target to 97.75. Woke up in the morning to find out I got stopped at +26pips. not as good as expected. it eventually come to 97.75 but i was out already. Shame I need to sleep, could make much more :-)

You can always try to check levels me and other guys post here and draw them no your chart and you will eventualy find a clue yourself. it just needs practice and eyes opened. Stay here and on www.nobrainertrades.com and you'll get it!
  • #10,075
  • Mar 27, 2009 4:25am Mar 27, 2009 4:25am
Step aside of the news if your trading 1 hour chart or lower levels...you will get raned over most likely....trade the larger levels because sentiment wont change so quick on them...
  • #10,076
  • Mar 27, 2009 4:29am Mar 27, 2009 4:29am
Alright my longterm long in the usdcad is on fire ..e.asy money...keep in mind I have been closing my trade and restarting since I hate paying the intrest so I go around the intrest and reeter it when I think is correct again....

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  • #10,077
  • Mar 27, 2009 4:40am Mar 27, 2009 4:40am
Pay attention...

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  • #10,078
  • Mar 27, 2009 4:48am Mar 27, 2009 4:48am
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I am long...stop loss is adjusted to makret volatilty pay attention to the market....dont use a 10 pip stop just because it fits the risk you like ...
  • #10,079
  • Mar 27, 2009 4:52am Mar 27, 2009 4:52am
Hooley Dooley guys. GBPUSD I got a nice 167 pips. Almost jumped out several times, but my lines kept me in there.I have wrecked more tades than won this week so am glad my lines all worked well. Thanks for the coments about moving to break even which of course I did. It was tough not jumping sooner.
  • #10,080
  • Mar 27, 2009 4:53am Mar 27, 2009 4:53am
Quoting Tori
Hooley Dooley guys. GBPUSD I got a nice 167 pips. Almost jumped out several times, but my lines kept me in there.I have wrecked more tades than won this week so am glad my lines all worked well. Thanks for the coments about moving to break even which of course I did. It was tough not jumping sooner.

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