No Brainer Trades

What about that post is advertising?

Not so much; I've pretty much been taking a step back as my March record was something like 2/14, despite this being the month I tried to be much more selective about only taking obvious setups. Go figure.

Wow... did they tend to fail completely (as in support/resistance being pierced without hesitation), or was it more a matter of stop loss size? I am demoing this kind of strategy and I also find it pretty unreliable (which is to say, I am pretty unreliable when picking what I consider good setups). It annoys me a little, because identifying S/R zones is really not that difficult. How price reacts to them, however, or whether it does at all is another story...

Yeah, most failed about as completely as a trade can fail. Several were because of something stupid, like not realizing I had to change the timezone in FF's calendar to daylight savings time, and getting blasted by news.

I am looking at eurjpy for a target of 130.69, maybe stopping at129.25 first. Only chart I am even slightly interested in today. Things are very slow though so may not happen, but if it looks like stopping on this line I will put the trade in, wait till break even, set my profit target, and see what happens.

Okay, we have lift off. That is the only trade I will look at today. Aussie and NZ moving way too slow, and nothing else looks in the right place for me.This is even moving too slowly, but being the asian session it has the most potential. Usdjpy will move too but not around any levels I like.

I dont know what time it is for everyone out there, but for me it is morning. I will look and see what the japs are doing because the asian session is the smallest. The london is the largest and least volatile so I will do that preferably, if I can remain disciplined. The only reason I would touch this session now is because a line I like is in play. I may regret that move because it could just sit here all day going nowhere. If so I will just rely on stop and go out for the day. The sun is shining here and I am going to enjoy some of it. toodles.

Well that was fun. Took 100 pips. Now I will wait to see if it drops back to 125 line and buy from there. If it continues to go up then I miss that leg an so be it. I am confident of a pull back just a little way to that line though and rather have taken the profit earlier. I will see what happens as best to be happy with a success and build on that.

Back on there. Didnt quite come down as far as I wanted, but I cant be totally spot on with lines, intuition plays a part,. Looking at 169 with take profit in place a little lower. Am well in front so stop loss at break even and will let it go. I am off to the beach and will take laptop and have a look later. This is how I wish I could trade all the time. It makes up for some crumby ones last week.

Closed the remaining 1/2 at +50.

Now lets take a look at EUR/USD opportunities for tonight/tomorrow...

Nice work Tori. I have no stomach for JPY pairs, kudos to you and those who trade that beast.

Tori, I find myself paying more attention to your posts than most, for two reasons -- 1) your picks (at least the ones you post here) almost always seem pretty spot on, and 2) I can rarely see why you picked them I mean the lines really, really don't jump out at me and even when I draw them on, I still can't for the life of me see how those lines appealed to you more than any other. But damned if they don't work well

Congrats on another winner.

I shorted at 98.375. in about 30 pips right now, I noticed a lot of resistance, and when looking at 5 and 15 minute data, I could see it losing momentum. I might be getting out soon as the movement seems to be slowing down.

EUR/USD, sell 1.3385-1.3415

Will stay away from longs for the time being, awaiting 1.30

http://i24.photobucket.com/albums/c2.../eumarch31.jpg

Just curious Sam why you wouldn't look at the 1.3333 level

Hi guys. I just got home and looked at puter, and wow, my trade closed out right where I put the take profit. 216 pips from that pair today and I had a nice day at the beach too. To answer how I pick my lines, I guess all I can say is draw them in when I post a chart and have a look on the different time frames. I look for action on a line in 4hr, 1hr, mostly, and then I also look for direction based on what other charts are doing. I have to say I get an intuitive feeling often, about where it will hit, and I do get amazed myself. If you are relaxed the intuition allows you to be in a flow of energy that goes through all traders, like a wave in the ocean. You swim with it and get carried along, or you swim against it and get pummeled. Now I do lots of crook trades too and that is because any stress, upset, tiredness ect, will not allow that flow to occur. This morning I had a feeling about that trade, so I picked my lines as above, then saw usdjpy looking upish, and even though euro and pound not moving much, they were looking upish too. So my direction matched my intuition and my starting point had lots of action, so in I went. I guess that is called an edge, and any other chart would not have given me that edge. Hope this gives food for thought.

Also I have learned not to go into a trade in the 10 mins before the turn of the hour unless it is coming off a line strongly, because sometimes they run one way, and then when the hour turns, they go the other. I watch that for taking profit too. Now eurjpy coming down nicely, and I will watch and if it looks like turning at that 125 again, off I go. To guage that I always go to the 5 min chart. But we are coming up to hour so good chance it will turn, just whether it drops enough to make it look good who can say. I will see what other charts do on hour as well. Do they look like turning too.If it goes through then fine, better to come from lower level anyway. But today I will only take it up.

moving my line up a little based on 5 min action. There will always be some room for interpretation

eurjpy hit 133 and has a nice reversal candle on the 5 min chart. Yes it is only short time frame, but the lines are picked for long time frames as well, and the other charts are all in sync having a small pull back from the lines I placed on them as well. So if next 5 min candle heads up I will be there. Cant get in at line when using 5 min chart because I need room to see if it does turn up.

In there and in profit. Looking at same 169 area although 130 area has some issues. If it goes anywhere will go to breakeven, set profit, and leave it.