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No Brainer Trades

  • #10,401
  • Apr 1, 2009 7:37am Apr 1, 2009 7:37am
Seems like we might be up for some usd strenght I will watch price action of the usd...

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  • #10,402
  • Apr 1, 2009 8:05am Apr 1, 2009 8:05am
Quoting Ferrari
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.
In my opinion you have the right approach there.
  • #10,403
  • Apr 1, 2009 8:08am Apr 1, 2009 8:08am
Quoting Shermenator
Seems like we might be up for some usd strenght I will watch price action of the usd...

Attachment
Sherm do you trade futures? what platform you are using on that screenshoot?
  • #10,404
  • Apr 1, 2009 8:13am Apr 1, 2009 8:13am
Quoting jokubka
Sherm do you trade futures? what platform you are using on that screenshoot?

I trade a bitt of cattle .... and for the charts I use think or swim
  • #10,405
  • Apr 1, 2009 8:37am Apr 1, 2009 8:37am
Quoting Shermenator
I trade a bitt of cattle
  • #10,406
  • Apr 1, 2009 8:43am Apr 1, 2009 8:43am
Quoting Shermenator
I trade a bitt of cattle ....
Ditto Duncan.....Cattle?
  • #10,407
  • Apr 1, 2009 8:45am Apr 1, 2009 8:45am
Quoting sivaji
Long usdcad @ 1.2632 ... change Sl to B/E
Closed for +40pips
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #10,408
  • Apr 1, 2009 8:49am Apr 1, 2009 8:49am
Quoting sivaji
Closed for +40pips
Collapses quick doesn't it? USDCAD is at major resistance.
  • #10,409
  • Apr 1, 2009 8:58am Apr 1, 2009 8:58am
Here is something to look at ...we got our monthly candleclose with a couple of long wicks at the bottom and also keep inmind it is the first time the gbp has a bullish close in about 9 months....

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  • #10,410
  • Apr 1, 2009 9:48am Apr 1, 2009 9:48am
Here is a postion I am looking to take ....

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  • #10,411
  • Apr 1, 2009 10:03am Apr 1, 2009 10:03am
Alright I am in ...

stop at break even now

...closed now wit 20 pips...


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  • #10,412
  • Apr 1, 2009 10:04am Apr 1, 2009 10:04am
Quoting Shermenator
Alright I am in ...

stop at break even now

...closed now wit 20 pips...


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Reason I closed fast on this trade...sentiment is changing to fast today...meaning any trade taking from an intraday perspective is a trade that must be protected closesly due to that. Unless I take longer term trades
  • #10,413
  • Apr 1, 2009 10:14am Apr 1, 2009 10:14am
is anyone here doin pure no brainer rules.. ?
I draw a line for u... a support line.. not a resistance one..
  • #10,414
  • Apr 1, 2009 10:15am Apr 1, 2009 10:15am
Thats why I closed ...sentiment is not consistent as well as time of the day to be trading intraday is already not the best...

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  • #10,415
  • Apr 1, 2009 10:18am Apr 1, 2009 10:18am
Quoting Shermenator
Reason I closed fast on this trade...sentiment is changing to fast today...meaning any trade taking from an intraday perspective is a trade that must be protected closesly due to that. Unless I take longer term trades
Nice scalping sherm , I see support becoming resistance and vicaversa a few times on the 1hr. Was that the reason for taking this level.
  • #10,416
  • Edited 10:51am Apr 1, 2009 10:20am | Edited 10:51am
Ok heres a trade on the chf. Just got metatrader btw, I was getting some really bad data on my 4hr charts with the old package.

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  • #10,417
  • Apr 1, 2009 10:32am Apr 1, 2009 10:32am
Long EUR/USD at 1.3209. Likely a scalp, or i might take partial profits and let some ride.
  • #10,418
  • Apr 1, 2009 10:53am Apr 1, 2009 10:53am
Quoting logiktrader
Long EUR/USD at 1.3209. Likely a scalp, or i might take partial profits and let some ride.
I added on to my position at 1.3205 and sold at 1.3216, about 10 pips profit

  • #10,419
  • Apr 1, 2009 11:30am Apr 1, 2009 11:30am
Quoting left_trader
is anyone here doin pure no brainer rules.. ?
Very few.

This thread like every other on FF has ended up being polluted by alternative interpretations of the original strategy.

However the market conditions have changed since this thread was created so I like many others have my own approach to NBT to reflect this. BRV did offer a number of choices in terms of how to apply his strategy but the principles remain the same regardless of what timeframe, lot size, stoploss or RR ratio you use and whether you favour reversals or breakouts.

The key is to find out exactly what works for you and stick to it.

I could call an exact price reversal level on here and everyone would get a slightly different result with it.

Education teaches you the rules, experience teaches you the exceptions.
  • #10,420
  • Apr 1, 2009 11:37am Apr 1, 2009 11:37am
Quoting RedCabbage
Very few.

This thread like every other on FF has ended up being polluted by alternative interpretations of the original strategy.

However the market conditions have changed since this thread was created so I like many others have my own approach to NBT to reflect this. BRV did offer a number of choices in terms of how to apply his strategy but the principles remain the same regardless of what timeframe, lot size, stoploss or RR ratio you use and whether you favour reversals or breakouts.

The key is to find out exactly what works for you and...
That was some good stuff Duncan lol...sounded like a movie line ...I agree with everything you said
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