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No Brainer Trades

  • #10,421
  • Apr 1, 2009 11:40am Apr 1, 2009 11:40am
Quoting left_trader
is anyone here doin pure no brainer rules.. ?
I'm trying to. Only taking major S&R preferably on 4h charts sometimes on 1 hour. Checking daily, weekly, monthy charts. Few trades a week... Why are you asking?
  • #10,422
  • Apr 1, 2009 11:41am Apr 1, 2009 11:41am
Quoting Shermenator
That was some good stuff Duncan lol...sounded like a movie line ...I agree with everything you said
I'll go and have a lie down now...
  • #10,423
  • Apr 1, 2009 11:45am Apr 1, 2009 11:45am
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....
I like your point of view... what I observe here is that no one use the original rules and just doing scalp.. which is not recommended by BRV...
I draw a line for u... a support line.. not a resistance one..
  • #10,424
  • Apr 1, 2009 11:53am Apr 1, 2009 11:53am
Quoting michal7
I'm trying to. Only taking major S&R preferably on 4h charts sometimes on 1 hour. Checking daily, weekly, monthy charts. Few trades a week... Why are you asking?
yea.. 4h and above is the best story teller for me.. I just wanna know who still play a pure one.. cause I think the pure one is the most tough one.. u just hv to waiting n waiting passionly for a position.. and just few trades a week..
I draw a line for u... a support line.. not a resistance one..
  • #10,425
  • Apr 1, 2009 12:15pm Apr 1, 2009 12:15pm
Quoting left_trader
yea.. 4h and above is the best story teller for me.. I just wanna know who still play a pure one.. cause I think the pure one is the most tough one.. u just hv to waiting n waiting passionly for a position.. and just few trades a week..
The most value from the NBT system is the use of only support and resistance. Fibs can help but shouldn't lead you in to a trade. I think that people tend to decide on their own how they want to MM and what RR they are going to have. This is where slightly different variations of styles (and postings) will exist.
  • #10,426
  • Apr 1, 2009 12:15pm Apr 1, 2009 12:15pm
Quoting left_trader
yea.. 4h and above is the best story teller for me.. I just wanna know who still play a pure one.. cause I think the pure one is the most tough one.. u just hv to waiting n waiting passionly for a position.. and just few trades a week..
well it's tough on patience otherwise it's easier, i mean, strongest levels are most obvious so it's easier to spot them. waiting waiting waiting. patience is a key. Lot of traders have problem with this because they just have an itch to press the button. Also RRR is important. I don't take scalp trades at all(up to 20pips). RRR I'm looking for is 1:3 or better, 1:2 at worst. I never go into trade if there is no good change to get at least 1:2. Although I sometimes took half of my position sooner than at 1:2.

So far I mostly trade rejections and still learning breakouts. When waiting for setup I just read www.nobrainertrades.com or some other stuff.

This is a method(not a system), it's discretionary but it is based on some facts how banks and funds works and it has a rules. So implement it correctly and it'll work. If you do what you're supposed to do, you will be in profit over long term. More on this here: http://www.forexfactory.com/showpost...&postcount=280
  • #10,427
  • Apr 1, 2009 1:07pm Apr 1, 2009 1:07pm
Michal how many markets do you trade?
  • #10,428
  • Apr 1, 2009 1:14pm Apr 1, 2009 1:14pm
Quoting left_trader
I like your point of view... what I observe here is that no one use the original rules and just doing scalp.. which is not recommended by BRV...
You have to learn the different type of conditions and adjust to them as the market moves...BRV is not mechanical at all he just threw some rules out, so people at least have a direction. Since many traders need set rules at first in order to be able do anything . As you grow as a trader you will see how broad the market is .
  • #10,429
  • Edited 1:22pm Apr 1, 2009 1:14pm | Edited 1:22pm
Quoting alter
Michal how many markets do you trade?
I watch 12 markets (eurusd, gbpusd, eurjpy, usdjpy, audusd, eurgbp, usdchf, nzdusd, usdcad, gbpjpy, audjpy, eurchf).
I don't trade all of them with same frequency, gbpjpy is very volatile so i only take very strong S&R there, also since I live in EU I don't trade audusd and nzdusd and audjpy so much, but if there is a nice setup I try to take trade.
I still have my daily job so sometimes I miss trade because I'm busy at work, but it works so so. Also I trade with small account (about 1000euros) but it's growing steadily.
  • #10,430
  • Apr 1, 2009 1:24pm Apr 1, 2009 1:24pm
I think u live in the same EU as I do. Could u send PM?
  • #10,431
  • Apr 1, 2009 1:27pm Apr 1, 2009 1:27pm
Quoting alter
I think u live in the same EU as I do. Could u send PM?
Well, as far as I know there is only one European Union so far :-) PM? You mean private message thing somewhere here on this site?
  • #10,432
  • Apr 1, 2009 1:27pm Apr 1, 2009 1:27pm
Quoting Shermenator
You have to learn the different type of conditions and adjust to them as the market moves...BRV is not mechanical at all he just threw some rules out, so people at least have a direction. Since many traders need set rules at first in order to be able do anything . As you grow as a trader you will see how broad the market is .
yea.. n rite now I try and practicing "I rather miss a trade than miss my capital" .

just like u say all the time dude..
I draw a line for u... a support line.. not a resistance one..
  • #10,433
  • Apr 1, 2009 1:59pm Apr 1, 2009 1:59pm
Ok, so my NZDUSD trade is getting closer to target. if momentum is strong I may move target a bit.
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  • #10,434
  • Apr 1, 2009 2:01pm Apr 1, 2009 2:01pm
Quoting michal7
Ok, so my NZDUSD trade is getting closer to target. if momentum is strong I may move target a bit.
Closed second half of position at +102pips. This was the only trade today but not that bad. Shame I missed EURGBP.
  • #10,435
  • Apr 1, 2009 2:51pm Apr 1, 2009 2:51pm
Alright this is a trade I am now currently short in...

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  • #10,436
  • Apr 1, 2009 3:08pm Apr 1, 2009 3:08pm
Alright its reacting like I whant

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  • #10,437
  • Apr 1, 2009 3:18pm Apr 1, 2009 3:18pm
Alright I closed a huge portion of my trade due to the reaction of the level has not been huge...by this I have reduced my risk 0 and playing with the profits earned of the very few pips...

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  • #10,438
  • Apr 1, 2009 8:20pm Apr 1, 2009 8:20pm
Possible short on USD/JPY.

This support line is getting used and abused, there might be a breakout to the down end. Might place a sell stop.

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  • #10,439
  • Apr 1, 2009 10:44pm Apr 1, 2009 10:44pm
Shorting AUD/USD @ .7026
  • #10,440
  • Apr 1, 2009 11:03pm Apr 1, 2009 11:03pm
Quoting logiktrader
Shorting AUD/USD @ .7026
Why? and Why at .7026 ?
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