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No Brainer Trades

  • #11,961
  • Jun 5, 2009 2:05am Jun 5, 2009 2:05am
Quoting RedCabbage
GBP outlook is bearish for sure
Yeah, I know, but I am betting on the retest of 50% fib at 1.6085. +29 pips now

Edit: +40
  • #11,962
  • Jun 5, 2009 2:06am Jun 5, 2009 2:06am
Yes I see that.
  • #11,963
  • Jun 5, 2009 2:17am Jun 5, 2009 2:17am
Closed for 55 pips and went short
  • #11,964
  • Jun 5, 2009 2:18am Jun 5, 2009 2:18am
Quoting bumasoft
Closed for 55 pips and went short
You are doing well considering the rules imposed on you. When do they change again?
  • #11,965
  • Jun 5, 2009 2:20am Jun 5, 2009 2:20am
Hi,

You guys aren't staying around for the NO f....@ing Profits release are you?
  • #11,966
  • Jun 5, 2009 2:24am Jun 5, 2009 2:24am
Quoting RedCabbage
You are doing well considering the rules imposed on you. When do they change again?
Thanks . I'm not sure, but it's possible that they will change next week, as this week is decisive for 2 of my colleagues.
  • #11,967
  • Jun 5, 2009 2:24am Jun 5, 2009 2:24am
Quoting Siam
Hi,

You guys aren't staying around for the NO f....@ing Profits release are you?
Yes I usually do. I like to see how NFP acts as a US barometer.

After such a good day yesterday I should really close the week off while I'm ahead, I hate giving pips back on a Friday.
  • #11,968
  • Jun 5, 2009 4:47am Jun 5, 2009 4:47am
Plan for next week:

Long @15945 (RBS, TF, .78(1h), R, S,)
LONG 15851 (RBS, .50 (4h), TF, R, S,)
Short 16244 (RBS, .50 (1h), TF, R,S,)
Short 16323 (RBS, .38 (1h), TF, R, S, BB)
Short 16431 (RBS, TF, R, S, 61.8 (1h))
Short 16084 after some time elapsed -Mon/Tues/Wed.

Any comments?

Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 24 KB
  • #11,969
  • Jun 5, 2009 5:20am Jun 5, 2009 5:20am
Long 14075 (RBS, TF, 50, R, S,)
Long 14000 (RBS, 61.8, TF, R, S, 000)
Long 13825 (RBS, TF, R,S)
Short 14245 (RBS, TF, R, S, BB, Fib)
Short 14331 (RBS, TF (2007), R,S)

H&S still in play though

Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 26 KB
  • #11,970
  • Jun 5, 2009 5:46am Jun 5, 2009 5:46am
Here is the grid indicator

Attached File(s)
File Type: mq4 Grid_v2.mq4   4 KB | 732 downloads

Attached File(s)
File Type: ex4 Grid_v2.ex4   3 KB | 511 downloads
  • #11,971
  • Jun 5, 2009 5:49am Jun 5, 2009 5:49am
Quoting Ferrari
Here is the grid indicator

Attachment
Attachment

Thanx
  • #11,972
  • Edited 4:11pm Jun 5, 2009 7:16am | Edited 4:11pm
Hello all, thought I'd share a method for trading reversals that I use. It's based on H1 pivot points which can be drawn as a curve using a 1-period HLC/3 SMA shifted 1 step to the right, so the value for this hour is the pivot, (H+L+C)/3, of the last hour.

A cross of this line by the hourly close can be interpreted as a change in direction of the trend, which can be traded on at least during the London session.

Now to trading reversals. In the attached chart I entered with a light position at the stop signs/green crosses, and then ADDED to the position when, after a close on the other side of the pivot line, the rate retraced back across the line. See attached charts for two reversals in Cable yesterday and today.

I believe this is better money management than doing the opposite, i.e. entering full on at the stop sign and then closing out half after some pips in profit. When the initial entry is wrong you lose half, and when reversal does happen you win double - or more if you scale into a position as the trend develops.

Also, for the faint of heart, there's the option of waiting for the H1 pivot reversal and retracement before entering. Extremely high hit rate and R/R ratio.

Hope somebody finds it useful.

Have a nice weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 5 June.jpg Size: 128 KB
  • #11,973
  • Edited 8:24am Jun 5, 2009 7:43am | Edited 8:24am
200 pips so far. NFP caught me long in EURJPY, GBPUSD and EURUSD . Currently in 3 shorts.

Make that 380 pips.

Edit: Finished the day with 495 pips. OMG! :-|
  • #11,974
  • Jun 5, 2009 8:29am Jun 5, 2009 8:29am
H4 setups on EURUSD
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 49 KB
  • #11,975
  • Jun 5, 2009 2:00pm Jun 5, 2009 2:00pm
Quoting medici
Hello all, thought I'd share a method of trading reversals that I am using. It's based on H1 pivot points which can be drawn as a curve using a 1-period HLC/3 SMA shifted 1 step to the right, so the value for this hour is the pivot, (H+L+C)/3, of the last hour.

A cross of this line by the hourly closes an be interpreted as a change in direction of the trend, which can be traded on at least during the London session.

Now to trading reversals. In the attached chart I entered with a light position at the stop signs/green crosses, and then ADDED...
thank you I found this extremely useful
  • #11,976
  • Jun 5, 2009 3:39pm Jun 5, 2009 3:39pm
Quoting zegakai
A crude rally is what I'm expecting actually. Gold as well. The double bottom is rather shallow and only appears clearly in lower tfs.
Should have been long USD/CAD!! .. Floating +400 on multiple lots.
  • #11,977
  • Jun 6, 2009 7:03am Jun 6, 2009 7:03am
well, I am not counting pips and I decided not to take longer term positions on Friday. I trade OPM and cannot have opened positions over the weekend, but I am up 2% this week with 0.5% made on Eur/Usd yesterday 1 trade. I trade with no leverage. 1:1
This method is what I had been looking for. It suits my personality perfectly.
I never could understand guys putting so many indicators on their screens. I trade with no indicators now. Only S/R areas, pivot points and candles.
I like to keep it simply.
Thank you RayValentine, you opened my eyes!
  • #11,978
  • Jun 6, 2009 7:14am Jun 6, 2009 7:14am
Quoting shiko
well, I am not counting pips and I decided not to take longer term positions on Friday. I trade OPM and cannot have opened positions over the weekend, but I am up 2% this week with 0.5% made on Eur/Usd yesterday 1 trade. I trade with no leverage. 1:1
This method is what I had been looking for. It suits my personality perfectly.
I never could understand guys putting so many indicators on their screens. I trade with no indicators now. Only S/R areas, pivot points and candles.
I like to keep it simply.
Thank you RayValentine, you opened my eyes!
How come you use no leverage?
  • #11,979
  • Jun 6, 2009 7:15am Jun 6, 2009 7:15am
What I really like about this coming week is a lack of news. By which I mean all those long conferences. i had to stay flat far too long this week due to news releases. It will be interesting. Eur/Usd is testing diagonal support line.
After learning RayValentine method I do not put too much importance to diagonal lines, but it is still interesting to watch. if it breaks this diagonal support, I am thinking taking long position at around 1.3790 but will have to check it for more precise price location tomorrow and Monday depending upon where price will move. Gonna look for shorting opportunities as well.
This volatility reminds me of last summer/fall.
  • #11,980
  • Jun 6, 2009 7:20am Jun 6, 2009 7:20am
How come you use no leverage?/////


Since coming week I will use a little bit of leverage. like 1,5:1.
The maximum goal is to use 2,5:1 leverage. I trade OPM so, I cannot use much leverage.

I gotta become better at this method to increase leverage slightly more. Have been trading it for slightly more than a month. But I trade only this way now. Nothing else.
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