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No Brainer Trades

  • #10,381
  • Apr 1, 2009 5:54am Apr 1, 2009 5:54am
Alright I nailed this one to the pip at the moment...will watch price at it moves...

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  • #10,382
  • Apr 1, 2009 5:59am Apr 1, 2009 5:59am
its exploding to the upside. why did you short ?!
  • #10,383
  • Apr 1, 2009 6:08am Apr 1, 2009 6:08am
Quoting advfntrader
its exploding to the upside. why did you short ?!
The moreprice goes up the more it whants to falls...the more it goes up the more it wants to go up
  • #10,384
  • Apr 1, 2009 6:09am Apr 1, 2009 6:09am
Quoting Cthulhu
Care to explain? I dont see any S/R or Fibs ...
Look at support and resistance as an area...

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  • #10,385
  • Apr 1, 2009 6:11am Apr 1, 2009 6:11am
sounds a dangerous strategy going against the trend. if it works for you then fair enough. I hope it does drop as I am underwater on a short... :-(


Quoting Shermenator
The moreprice goes up the more it whants to falls...the more it goes up the more it wants to go up
  • #10,386
  • Apr 1, 2009 6:17am Apr 1, 2009 6:17am
Alright I just shorted it again...keep in mind the first postion was very small for that reason

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  • #10,387
  • Apr 1, 2009 6:23am Apr 1, 2009 6:23am
Quoting advfntrader
sounds a dangerous strategy going against the trend. if it works for you then fair enough. I hope it does drop as I am underwater on a short... :-(

Each timeframe has its own trend mate...second professional traders trade like this since its the only way to get large orders into the market
  • #10,388
  • Apr 1, 2009 6:30am Apr 1, 2009 6:30am
Quoting Shermenator
Each timeframe has its own trend mate...second professional traders trade like this since its the only way to get large orders into the market
Sherm , why didnīt you pick the 38.2Fib at 1.3261 and there looks to me more supply around the 1.3270 plus area.
  • #10,389
  • Apr 1, 2009 6:31am Apr 1, 2009 6:31am
I opened NZDUSD in the morning. Wanted to open at 0.5550 but missed that level, so opened at 0.5560, stop was at 0.5520, now it's at +60pips, will see how it goes, will probably take half off now and let rest run to target.

Although I notice head and shoulders pattern I don't really take these into account S&R is S&R and USD didn't fell so strong to continue gaining. Do you guys really take into account other technical formations exept S8R, FIB and diag. trendlines?
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  • #10,390
  • Apr 1, 2009 6:37am Apr 1, 2009 6:37am
Quoting c49
Sherm , why didnīt you pick the 38.2Fib at 1.3261 and there looks to me more supply around the 1.3270 plus area.

Fibs are just an area to me I dont care about the exact number. Its like this a car is worth 10000 and I offer it to you for 6180 ....and then I say you know what I offer it to you for 6250 . Its stil buissness since your getting at a bargain ...you have to look at the market from that perspective and not from the point that it hit the fibb to the pip . Professionel investors dont waste their time on that. Buy low sell high and ask yourself if its cheap to the market .
  • #10,391
  • Apr 1, 2009 6:40am Apr 1, 2009 6:40am
sherm wheres your stop becasue it keeps going up !!
  • #10,392
  • Apr 1, 2009 6:42am Apr 1, 2009 6:42am
Quote
Although I notice head and shoulders pattern I don't really take these into account S&R is S&R and USD didn't fell so strong to continue gaining. Do you guys really take into account other technical formations exept S8R, FIB and diag. trendlines?

Technically speaking, I base my trades primarily on S&R. I also look at fibonacci and fibonacci patterns. It is also a very good idea to understand basic fundementals, and current market sentiment.

Beyond these I see no evidence that other tools play a role in determining price action in any tradable way. I am interested to see what other traders have to say on this point.
  • #10,393
  • Apr 1, 2009 6:45am Apr 1, 2009 6:45am
Quoting advfntrader
sherm wheres your stop becasue it keeps going up !!
I dont give signals mate.....I just mention what I am doing
  • #10,394
  • Apr 1, 2009 6:47am Apr 1, 2009 6:47am
I'm not following you don't worry ! but from the looks of my short the trend is strongly UP. stops are in


Quoting Shermenator
I dont give signals mate.....I just mention what I am doing
  • #10,395
  • Apr 1, 2009 7:00am Apr 1, 2009 7:00am
Quoting advfntrader
I'm not following you don't worry ! but from the looks of my short the trend is strongly UP. stops are in
If you are following the no brainers style, then every single trade will be against price flow. You pick a level, wait for price to arrive. If you learn to pick the correct level, price should reverse either right at entry or pretty soon afterward. With the correct stop you should have more winners than losers. You don't need to be trading every day either. One or two winners per week, if they're available, should do nice things to your account
  • #10,396
  • Apr 1, 2009 7:01am Apr 1, 2009 7:01am
Took my 90 dollars...I wont flip a coin in my trade when news is around the corner total 5 pips...

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  • #10,397
  • Apr 1, 2009 7:03am Apr 1, 2009 7:03am
This is a picture of me closing the trade...

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  • #10,398
  • Apr 1, 2009 7:05am Apr 1, 2009 7:05am
Long usdcad @ 1.2632 ... change Sl to B/E
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STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #10,399
  • Apr 1, 2009 7:26am Apr 1, 2009 7:26am
I see all you guys took a short in the eurusd. I am still in my long and up 40 pips. have plenty of pips up my sleeve to let it run a while. still looking at target 1.3327. might pull out early if not happy, but so far am satisfied with how it is going.
  • #10,400
  • Apr 1, 2009 7:26am Apr 1, 2009 7:26am
Alright I am now starting to look to buy dollars over the market....
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