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No Brainer Trades

  • #12,541
  • Jul 10, 2009 3:15am Jul 10, 2009 3:15am
gone long GU at 1.6275
  • #12,542
  • Jul 10, 2009 4:33am Jul 10, 2009 4:33am
Quoting tinybolt10
what do you guys think of GBP/USD. I think its near support and also near pivot and seems to be holding this level.

thinking of going long at 1.6275
There's quite some pressure there, it's a bit unlikely to hold IMO, but... Good luck!

PS: I'm short
  • #12,543
  • Jul 10, 2009 5:17am Jul 10, 2009 5:17am
Quoting bumasoft
There's quite some pressure there, it's a bit unlikely to hold IMO, but... Good luck!

PS: I'm short
Closed the short for +55, but could have been good for more
  • #12,544
  • Jul 10, 2009 6:33am Jul 10, 2009 6:33am
gone long GU at 1.6275/////


I think the market has been trading withing this channel for so long that almost all levels have been sloshed around for too long. Nothing is reliable for now. Yesterday left 4 limit orders. 3 got filled. 1 T/P. Thanks good I got up at 12:40 to check on trades. I was short on E/U and G/U. closed both at small profit. They were for hours in profit but never got to T/P. then it was up trend and I would be killed. Today I also see levels being busted. Markets are hot.

I am waiting for some fresh levels or for those which were not crossed for at least few days.
  • #12,545
  • Jul 10, 2009 6:42am Jul 10, 2009 6:42am
I do not trade London open, but I did notice some behavior pattern. If by Germany open price is trying to break some level, it is breaking it on London. It happens already few days in a row. Anyone noticed it?
  • #12,546
  • Jul 10, 2009 7:06am Jul 10, 2009 7:06am
Quoting shiko
I do not trade London open, but I did notice some behavior pattern. If by Germany open price is trying to break some level, it is breaking it on London. It happens already few days in a row. Anyone noticed it?
Yeah and breakouts tend to happen a lot in London opens, from what I've seen.
  • #12,547
  • Jul 10, 2009 8:07am Jul 10, 2009 8:07am
Quoting bumasoft
Closed the short for +55, but could have been good for more
Glad to see your doing so well,bud!
How is everything going?
  • #12,548
  • Jul 10, 2009 8:33am Jul 10, 2009 8:33am
Yes, the probability is high in London, but I have no experience of trading it. Obviously, it is good time for break out strategy. BRW method as I see it should be used to detect which S/R level was broken and reversed and use it to enter in trend direction after price failed to break it back.
I need to force myslef actually to do it. i have used BRW method to contra trade, but I used to trade break out strategy which is not coming close to BRW method opportunity.
Plus, I read one guy he told that for breakout trade we gotta already come with some positive pips under belt, which means we gotta take position on retracement when S/R level being tested and holds, we enter. I am used to buy high sell higher/ sell low buy lower way, which is quite risky. For me it is scary to trade retracement cause I always expect the trend to reverse
But it is actually a much safer way as I think.
  • #12,549
  • Jul 10, 2009 8:39am Jul 10, 2009 8:39am
hi bumasoft , glad you made a profit.
its only now as closing the trade for a loss that i could see what i did wrong.

I have been following this thread for 1 month now. The first 10 days i did not have a losing trade and then i got over confident and started to l have a few losing days. in fact this is the first time i have ever stuck with a trading methodology for over a month, probably explains why my account is up during this period of time

I still cant believe such a simple trading method can have such results, I suppose that why its called No brain Trading
  • #12,550
  • Jul 10, 2009 8:40am Jul 10, 2009 8:40am
I have made today 25 pips by simple scalping and will not trade again. I hate Fridays. I am not allowed to hold any positions over the weekend hence , I like to keep it short on Fridays and each month last Friday I do not trade at all. Still remember had to close at $200 loss trade when price hit major resistance at 1.3400 , you might remember , price went all the way down almost to 1.3000, it was last time buck traded that low.

But I wonder, it looks like E/U, E/J and G/U might reverse direction. at least unless they break lows of the day.
  • #12,551
  • Jul 10, 2009 10:30am Jul 10, 2009 10:30am
Quoting speedarad
Glad to see your doing so well,bud!
How is everything going?
Hey, mate!

Well, I'm still struggling to get used to the rules they gave us at training, but things are finally starting to get brighter. Today I made 100 pips and the result for this week is +100 pips (210 monday, -130 tuesday, -80 wednesday, breakeven on thursday and +100 today). Before this week, I was having pretty bad results, but I'm getting the hang of it

How are you doing?
  • #12,552
  • Jul 10, 2009 11:10am Jul 10, 2009 11:10am
Quoting bumasoft
Hey, mate!

Well, I'm still struggling to get used to the rules they gave us at training, but things are finally starting to get brighter. Today I made 100 pips and the result for this week is +100 pips (210 monday, -130 tuesday, -80 wednesday, breakeven on thursday and +100 today). Before this week, I was having pretty bad results, but I'm getting the hang of it

How are you doing?
Consider your circumstances I think you're doing great, even you may have a negative week here and there.
I have limited time for trading right now and I'm basically trying to "scalp" a few pips here and there from Daily.(I'm only looking at GU and EU).Hope market decide to pick up a direction soon!
Skype me over the weekend if you're not partying to hard ;LOL
  • #12,553
  • Jul 10, 2009 1:07pm Jul 10, 2009 1:07pm
Bumasoft, what is that you are getting training from? Forex prop shop, bank , institution?
It sounds good to get training. Plus being able to trade company's capital from start.
  • #12,554
  • Jul 10, 2009 1:51pm Jul 10, 2009 1:51pm
Quoting shiko
Bumasoft, what is that you are getting training from? Forex prop shop, bank , institution?
It sounds good to get training. Plus being able to trade company's capital from start.
Hey, shiko. It's a brokerage firm that intermediates for SaxoBank in Romania. I'm not trading real money yet, but hopefully, I will. They will give me an answer on the 1st of August. I wish me luck. LOL
  • #12,555
  • Jul 10, 2009 2:29pm Jul 10, 2009 2:29pm
Hey, shiko. It's a brokerage firm that intermediates for SaxoBank in Romania. I'm not trading real money yet, but hopefully, I will. They will give me an answer on the 1st of August. I wish me luck. LOL/////

Wish you good luck.

I also trade OPM , started recently. But I wish I could find something like this here in Toronto. are you trading from home or from company's office?


I
  • #12,556
  • Jul 10, 2009 2:53pm Jul 10, 2009 2:53pm
Quoting shiko
Hey, shiko. It's a brokerage firm that intermediates for SaxoBank in Romania. I'm not trading real money yet, but hopefully, I will. They will give me an answer on the 1st of August. I wish me luck. LOL/////

Wish you good luck.

I also trade OPM , started recently. But I wish I could find something like this here in Toronto. are you trading from home or from company's office?


I
Company's office, but they said there is a possibility to trade from home in the future, after I'm good at it
  • #12,557
  • Jul 11, 2009 12:11pm Jul 11, 2009 12:11pm
My goodness . . . with summer events, birthdays, family reunions and everything else in between, I have a lot of catching up to do. This thread has exploded the past three weeks.

Thanks to all for your insight.
  • #12,558
  • Jul 11, 2009 9:31pm Jul 11, 2009 9:31pm
Really good video on how to pick longer term levels done by Clockwork71

http://blog.forexfantasies.com/2009/07/11/practice.aspx
  • #12,559
  • Jul 12, 2009 4:56pm Jul 12, 2009 4:56pm
any trades on the 5min chart
  • #12,560
  • Jul 12, 2009 6:51pm Jul 12, 2009 6:51pm
Quoting RedCabbage
Return to risk appetite as Japan announces further backing for dollar as global reserve currency.

Ad hoc news reports being used as a catalyst to fulfill specific existing agendas.
What exactly is 'risk appetite' ?

Thank you.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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