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No Brainer Trades

  • #11,981
  • Jun 6, 2009 7:28am Jun 6, 2009 7:28am
Quoting shiko
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.
Leverage should not really matter mate. If you have a 10k account you should not loose more then a certain percenatge of your account per individual trade . For example out of a 10 k account I wont allow myself to loose more then 250 dollars per trade. The stop should determine your value per pip if my stop is 100 pips I will go in at 2 dollars a pip and if my stop is 10 pips I will still loose 250 dollars so I will be in at 25 dollars a pip. Leverage does not do anything to me, if anything it can help me to protect myself as a trader.
  • #11,982
  • Jun 6, 2009 7:38am Jun 6, 2009 7:38am
Leverage should not really matter mate. If you have a 10k account you should not loose more then a certain percenatge of your account per individual trade . For example out of a 10 k account I wont allow myself to loose more then 250 dollars per trade. The stop should determine your value per pip if my stop is 100 pips I will go in at 2 dollars a pip and if my stop is 10 pips I will still loose 250 dollars so I will be in at 25 dollars a pip. Leverage does not do anything to me, if anything it can help me to protect myself as a trader./////


I see. I actually use BRV stop loss of 40 pips and do not make any changes for now. But what you say obviously has sense. After I become better at this method I will sure utilize what you just told.
Anyway, my risk per trade is predetermined. For now I can risk maximum 1.5% per trade but prefer to be on conservative side. Have been risking 0.4% per trade and since next week it will be 0.5-0.6% per trade. Pip size depends upon it. after I becoem better with this way opf trading, I will increase risk per trade and pip size. What you say, obviously has very good sense and I will follow your advice after I get better at this way of trading.
Used to trade 6 Emas. Cannot even come close to this way.
  • #11,983
  • Jun 6, 2009 7:45am Jun 6, 2009 7:45am
Quoting shiko
Leverage should not really matter mate. If you have a 10k account you should not loose more then a certain percenatge of your account per individual trade . For example out of a 10 k account I wont allow myself to loose more then 250 dollars per trade. The stop should determine your value per pip if my stop is 100 pips I will go in at 2 dollars a pip and if my stop is 10 pips I will still loose 250 dollars so I will be in at 25 dollars a pip. Leverage does not do anything to me, if anything it can help me to protect myself as a trader./////


I...
Thats great man ...not many people start in the trading world by using such a conservative risk. I learned the hard way in trading lol but I make a good living off it now. Just make sure to be persistent in trading and it will all pay off in the end.
  • #11,984
  • Jun 6, 2009 8:00am Jun 6, 2009 8:00am
Thats great man ...not many people start in the trading world by using such a conservative risk. I learned the hard way in trading lol but I make a good living off it now. Just make sure to be persistent in trading and it will all pay off in the end./////


Thanks I always listen to experienced successful guys like yourself
Frankly, I learned about Forex on May 21, 2008. slightly more than a year ago.
My live trading experience is less than a year, but I am progressing fast cause I listen to guys like yourself and BRV and do not try to get rich quickly...
The fact that I already manage OPM tells something... I am not making huge returns, but my maximum DD since last year December was 3.5% and since I started trading OPM it is 2.5% max. Cause I listen to successful guys like yourself and BRV.
  • #11,985
  • Jun 6, 2009 8:47pm Jun 6, 2009 8:47pm
This is my first time posting on this forum but i have been following it for a little while now. Having gotten beat up by the forex market using indicators i have been trading alot better for the past couple of months since i started using S/R , candle formation and fib. i am still in the learning process and was wondering if anyone have any word of advice for me expecially how to get better at finding S/R zones. Any comment will be appreciated.
  • #11,986
  • Jun 7, 2009 1:01am Jun 7, 2009 1:01am
Quoting row
This is my first time posting on this forum but i have been following it for a little while now. Having gotten beat up by the forex market using indicators i have been trading alot better for the past couple of months since i started using S/R , candle formation and fib. i am still in the learning process and was wondering if anyone have any word of advice for me expecially how to get better at finding S/R zones. Any comment will be appreciated.
Practice. And memorize this thread.
  • #11,987
  • Jun 7, 2009 2:41am Jun 7, 2009 2:41am
Quoting row
This is my first time posting on this forum but i have been following it for a little while now. Having gotten beat up by the forex market using indicators i have been trading alot better for the past couple of months since i started using S/R , candle formation and fib. i am still in the learning process and was wondering if anyone have any word of advice for me expecially how to get better at finding S/R zones. Any comment will be appreciated.
Agreed with Hans - dig through the thread and you'll see tons of different examples pretty much everywhere. I'm basically blessed to see so many people come through here over time and add to this thread that I created out of boredom one day.

I'll say this much: there's more to just picking levels intraday: dont forget the basic tenets: do your fundamental homework, keep with the trend (I dont suggest highly countertrend techniques for newer traders, especially) and play the bigger areas.

Open any chart and look at what levels hit the most. You'll start to see these events happen over and over again, all over the place. Experience is something no course/reading/whatever is going to teach you.

I know we say it alot but seriously, experience rules above all. Lots of screen time.

Harsh support and resistance training should be mandatory for any FX trader. Go to any bank and other than operational stuff, its one of the first things they teach you as an analyst.
  • #11,988
  • Jun 7, 2009 8:50am Jun 7, 2009 8:50am
Row, I am pretty much in the same situation but have found that by reviewing the videos and all of the info on 1st page that BRV posted has helped a lot. Something else that is frickin awesome is the new chat feature. Check it out and just by watching what some of the experienced people are doing you will learn more and more each day. Personally I would love to have someone to bounce ideas and levels off of to validate my thinking and drive more successful trades.
deg
  • #11,989
  • Jun 7, 2009 9:27am Jun 7, 2009 9:27am
I really appreciate all the positive feedback it means alot and i intend to stay tune to this forum and learn as much as i can.Thanks again all.
Questfx where can i find the new chat feature?
  • #11,990
  • Jun 7, 2009 3:18pm Jun 7, 2009 3:18pm
row, just go to nobrainertrades.com and you'll see it on top left.
deg
  • #11,991
  • Jun 7, 2009 8:49pm Jun 7, 2009 8:49pm
Hi all, I have been a lurker too for a while. I started Forex with all the wonder indi's and crossovers on my chart which eventually didn't work out.

I love just pure PA. Thanks to BRV, Jacko and J16 my eyes have been opened. What I like about BRV's method is in most cases a very good R:R ratio and high probability trades.

On the eur/usd I have done some analysis and I was wondering what you guys think about it. I think probably price may test the spike base of 1.4037 area and continue down to the 1.3737 area. Not sure if it lines up with BRV's analysis, but I'd love to hear some reactions.
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  • #11,992
  • Jun 7, 2009 8:56pm Jun 7, 2009 8:56pm
you should go to chat room at nobrainertrades.com
deg
  • #11,993
  • Jun 7, 2009 9:13pm Jun 7, 2009 9:13pm
Quoting artov
On the eur/usd I have done some analysis and I was wondering what you guys think about it. I think probably price may test the spike base of 1.4037 area and continue down to the 1.3737 area. Not sure if it lines up with BRV's analysis, but I'd love to hear some reactions.
http://www.forexfactory.com/showpost...ostcount=32555

The level you're talking about is approx 38% retracement. So we're singing the same song, but to a different tune. Only problem is that I am a complete newbie without enough experience to trust my own assessment.
non si dimentichi mai
  • #11,994
  • Jun 7, 2009 10:14pm Jun 7, 2009 10:14pm
hi.
wonder if someone can help - I'm having difficulty accessing the documents in the nobrainertrades.com - I can open the external links on the site but the ones on the blogsite it just says internet explorer cannot access this site, operation aborted and freezes. Is it my internet protection or something or do you have to subscribe to open stuff on the site?

thanks in advance if anyone can help.
  • #11,995
  • Jun 8, 2009 1:07am Jun 8, 2009 1:07am
Hi,

Cable is heading towards 15780. It'll be interesting to see the reaction at this level.
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  • #11,996
  • Jun 8, 2009 1:11am Jun 8, 2009 1:11am
Quoting Siam
Hi,

Cable is heading towards 15780. It'll be interesting to see the reaction at this level.
Nice level Siam.

It's coming in a bit hot...
  • #11,997
  • Jun 8, 2009 1:16am Jun 8, 2009 1:16am
Quoting Siam
Hi,

Cable is heading towards 15780. It'll be interesting to see the reaction at this level.
I was just looking for slowdown points on GBP and I have to say its gotta be tough to nail this one. There's a diagonal trendline (upwards) coming in around here, and 1.5725 is the closest major high. The 55-75 area could get some attention if 5850 doesnt. I feel like it'll just stagger like a ladder for a while on the way down here, but it needs to cool it for a little bit, atleast.
  • #11,998
  • Jun 8, 2009 1:27am Jun 8, 2009 1:27am
Quoting BillyRayValentine
I was just looking for slowdown points on GBP and I have to say its gotta be tough to nail this one. There's a diagonal trendline (upwards) coming in around here, and 1.5725 is the closest major high. The 55-75 area could get some attention if 5850 doesnt. I feel like it'll just stagger like a ladder for a while on the way down here, but it needs to cool it for a little bit, atleast.
Yes I like 15724 from Dec17 on the daily too.
  • #11,999
  • Jun 8, 2009 2:50am Jun 8, 2009 2:50am
Any thoughts on the 1.0955 level on the USD/CHF or is it coming in too hot?
  • #12,000
  • Jun 8, 2009 4:36am Jun 8, 2009 4:36am
97-97.2 zone looks good for longs: 4 hour, 1 hour support, up trend line, and 38.2 fib levels
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Fear's for the other guy
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