No Brainer Trades

Nice outfit!

http://www.mysmiley.net/imgs/smile/happy/happy0065.gif

Well I am with you Mr./Ms.Rust.
I have not been able to trade regularly for a couple of weeks but I believe today must have set a record for the fewest number of posts on this thread
Not even a mention of the ginormous moves in the AUD/USD,EUR/GBP,and USD/CHF.
What gives?

Hi all, this is my first post on this thread (although I have been following it for a few months now). I just wanted to throw a question out there. Is anyone watching the 1.2890 - 1.2900 area as potential support on EU?

Hi to all,

Getting ready to close my usd/jpy trade. Not a bad run that one but looking like 9560 area is the one to watch for now. And in regards to the 2900 area on Euro yes it looks like we might see a reaction around there.

Morning RC

Is that warm spell still lasting in the UK?

Hi people..
Can be a bucket and pay attention????

Hi Siam

It's sunny but wet today.

Had perfect weather at the weekend though, as I booked my wife some low level flying in the Lake District for aerial photography. Fantastic.

Hi everyone. gbpusd. like this if it drops just a little more.

end of channel!!!

And this is eurusd. would like 955 or 887 for buy, otherwise I will wait for it to go up quite a way before taking sell. Not touching anything in the middle. I am currently in a trade but not much point posting that as it is already in play.

At an interesting place before London open.

Tori, GBPUSD looks good just needs a little more as you say. I haven't checked EURUSD yet.

SNB have said they will intervene at around 150 to protect their currency from being overvalued.

Hallo iam a new reader of this forum.I want to personally thank Billy Ray Valentine to have shared his strategy whit us.It's a great stuff....thank so much.

sorry for my english....

Seattle

Following comments about placing orders to catch trades in unsociable hours - sometimes they work out sometimes they don't.

Overnight my order missed an entry on EURCAD by 1pip and this morning it has made 100+.

Never mind on to the next.

I would be really grateful if anyone would comment on a recent trade I took on USD/JPY this morning. I am enthusistic about this method which I believe is potentially the most profitable on the whole of of FF but I am still not entirely confident about the fine tuning of entries and exits.
I looked for a bounce at 96 on the basis that this was a major level and also because price had been rejected at this level last time there.
I placed a very tight stop and looked for just twenty pips initial profit.
Price did bounce but only for about 18 pips and then continued south breaking 96. I took a loss of 3 pips.
Price has now retraced back to 96 and I went short as previous support became resistance. I am currently a few pips in profit
My questions are
1. Was this a valid trade according to the threads methodology?
2. Should I have got out earlier and took a couple of pips profit rather than a loss i.e jumped ship as soon as upward momentum was lost.
3. Is my new entry valid?
4. How would I best manage this new short.
Many thanks in anticipation
Dave

Here is an up to date chart showing the short trade

1. As long as you are using major support and resistance levels, then yes.

2. Depends on your profit taking strategy. My strat is to take partial profits at 20 pips depending on currency but when it comes to +18/19 pips I move my SL to +15 because if price stops at +19 and goes back then I don't lose all those pips gained.

3. I'd say so, as you used a support turned resistance line as a entry which satisfies the high probability criterea for entering a trade.

4. Take profits at major support areas and always keep a bit on in case this turns into a +200pip trade.

Ploob
Many thanks for your time and consideration
Dave

Darn it- price turned round on me again but at least this time got out with a few pips profit.