No Brainer Trades | Page 637 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD, USD/CHF, USD/JPY

Similar Threads

No brainer fundamental trades 55 replies

This time... I'm Keeping MY MONEY (BRV - No Brainer Trades) 3 replies

The Koala System (No brainer) 127 replies

EUR/GBP SHORT for No Brainer 67 replies

Selling USD and YEN is a no brainer. 12 replies

Attachments: No Brainer Trades
Exit Attachments

No Brainer Trades

  • #12,721
  • Jul 20, 2009 5:06am Jul 20, 2009 5:06am
I agree, have a limit sell at 60. The spike you marked was a nice bucket trade couple weeks ago. Better visible on the hourly.

Quoting Khalys
EURUSD could retrace from 1.4261.
forget about tomorrow, just steal away into the night
  • #12,722
  • Jul 20, 2009 6:48am Jul 20, 2009 6:48am
hi i have a question, hope i didn't miss out anything, but according to the pdf, the SL is 40 pips, while we shd take partial profits on 20 pips. If so, wun the R:R be not good?
  • #12,723
  • Jul 20, 2009 7:33am Jul 20, 2009 7:33am
I may have missed this, and apologies if so, but I was wondering whether Steve primarily trades futures or spots? And ditto for the longer serving thread members on here. I was reading somewhere that the futures market is possibly more 'reliable' technically.
Thanks.
  • #12,724
  • Jul 20, 2009 7:54am Jul 20, 2009 7:54am
Quoting Interceptor
I may have missed this, and apologies if so, but I was wondering whether Steve primarily trades futures or spots? And ditto for the longer serving thread members on here. I was reading somewhere that the futures market is possibly more 'reliable' technically.
Thanks.
Hi Interceptor,

To my knowledge Steve just trades the spot market, as do most of the posters here. I have traded both at different stages and they move almost in tandem so as far as the strategies here are concerned, they will work in both (and commodities, the indexes etc as well for that matter). The spot market is better for accuracy on longer term levels as it is not messed up by contract rollover like the futures are. Spot also has the advantage of access to the crosses (futures only has the majors). Also, minimum contract size on the futures averages approx $10/pt whereas spot accounts can be opened with very small $$. Potential downside is that the spot market is unregulated (i.e. no central exchange), so it is important to understand the intermarket structure and select a broker that suits your needs.

Hope it helps.
Dingo
  • #12,725
  • Jul 20, 2009 8:02am Jul 20, 2009 8:02am
Short from 1.4246
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
STRENGHT IS LIFE ,WEAKNESS IS DEATH - SWAMI VIVEKANANDA
  • #12,726
  • Jul 20, 2009 8:28am Jul 20, 2009 8:28am
Quoting sivaji
Short from 1.4246
I'm just interested to know: How can you place a short into weekly support at 1.42?

What am I missing here?
Gone to a better place
  • #12,727
  • Jul 20, 2009 9:44am Jul 20, 2009 9:44am
Quoting smikester
I'm just interested to know: How can you place a short into weekly support at 1.42?

What am I missing here?
unfortunately that seem to be where it is moving now. ha guess let's wait to hear from him
  • #12,728
  • Jul 20, 2009 10:40am Jul 20, 2009 10:40am
Quoting supremeChaos
seattlerust,
i noticed 94.71 & 92.53 indicated in your $jpy H1 chart.
Supreme,

Those two numbers are leftovers from my first look at the new day. At the GMT open, I look at the ATR and place a "flag" at both the possible high and possible low from the open. Sorry to confuse.

SR
  • #12,729
  • Jul 20, 2009 10:43am Jul 20, 2009 10:43am
Quoting smikester
I'm just interested to know: How can you place a short into weekly support at 1.42?

What am I missing here?
This is support becoming resistance.

SR
  • #12,730
  • Jul 20, 2009 11:04am Jul 20, 2009 11:04am
Quoting dingo432
Hi Interceptor,

To my knowledge Steve just trades the spot market, as do most of the posters here....
Very helpful answer.
Thanks for this.

Mark.
  • #12,731
  • Edited 11:01pm Jul 20, 2009 11:20am | Edited 11:01pm
Watching for longs 1.415 if we see any give back. 50% fib of the recent move up and previous S&R. Will get a chart up later.

**Attached

http://i24.photobucket.com/albums/c2..._july20eur.jpg
  • #12,732
  • Jul 20, 2009 11:54am Jul 20, 2009 11:54am
Quoting seattlerust
Supreme, Those two numbers are leftovers from my first look at the new day. At the GMT open, I look at the ATR and place a 'flag' at both the possible high and possible low from the open..
it's ok... well, price hit the upper "flag" (94.71) before reversing. nice.. was the ATR based on an MT4 indicator (which one?, if ever) or a different computation? I take it that this "ATR flag plotting" is a daily habit of yours, correct? Thanks!
  • #12,733
  • Jul 20, 2009 5:31pm Jul 20, 2009 5:31pm
Quoting supremeChaos
it's ok... well, price hit the upper "flag" (94.71) before reversing. nice.. was the ATR based on an MT4 indicator (which one?, if ever) or a different computation? I take it that this "ATR flag plotting" is a daily habit of yours, correct? Thanks!
I do not like the MT4 calculation because it includes the Sunday market which is truncated. I use a spreadsheet that I developed to allow me to enter current day data quickly and calculate an ATR with only monday thru Friday data. I try to do this each day or in the evening here which is after the new day on GMT, which is what my platform is set to.

SR
  • #12,734
  • Jul 20, 2009 7:51pm Jul 20, 2009 7:51pm
Quoting seattlerust
I do not like the MT4 calculation because it includes the Sunday market which is truncated. I use a spreadsheet that I developed to allow me to enter current day data quickly and calculate an ATR with only monday thru Friday data. I try to do this each day or in the evening here which is after the new day on GMT, which is what my platform is set to.

SR
what's the formula for ATR? thanks
  • #12,735
  • Jul 20, 2009 9:05pm Jul 20, 2009 9:05pm
Simplest version (there's different ones, some incorporate closing prices, etc.) is just (daily high - low ) / period. If you have an average range of 100 pips, and the EURUSD has already moved 100 pips, depending on what time it is and what is going on in the market (is big news moving things? post rate release days you can easily see triple the normal range), you might want to think about leaving it be.
  • #12,736
  • Jul 20, 2009 9:12pm Jul 20, 2009 9:12pm
Quoting smittens4212
Simplest version (there's different ones, some incorporate closing prices, etc.) is just (daily high - low ) / period. If you have an average range of 100 pips, and the EURUSD has already moved 100 pips, depending on what time it is and what is going on in the market (is big news moving things? post rate release days you can easily see triple the normal range), you might want to think about leaving it be.

alrite thanks. ya tt's probably the simplest, though I tot there is some other calculations possible since i saw some that take into account of volatility.
  • #12,737
  • Jul 21, 2009 9:14am Jul 21, 2009 9:14am
Hello everybody.
Is that stuff Feds taking right now is really important. I noiced volatility is rising and getting too high for my aste. some levels nearby on Eur/Jpy for example, but really too scary to take position as no idea where the market can move if news are important. The worst, they are talking... it take a long time

Due to testify on the semi-annual monetary policy report before the House Financial Services Committee, in Washington DC;
  • #12,738
  • Jul 21, 2009 9:16am Jul 21, 2009 9:16am
Quoting shiko
Hello everybody.
Is that stuff Feds taking right now is really important. I noiced volatility is rising and getting too high for my aste. some levels nearby on Eur/Jpy for example, but really too scary to take position as no idea where the market can move if news are important. The worst, they are talking... it take a long time

Due to testify on the semi-annual monetary policy report before the House Financial Services Committee, in Washington DC;
It's complicated shiko. If you had been in the chatroom you might have had a better handle on it.
  • #12,739
  • Jul 21, 2009 9:24am Jul 21, 2009 9:24am
Quoting shiko
Hello everybody.
Is that stuff Feds taking right now is really important. I noiced volatility is rising and getting too high for my aste. some levels nearby on Eur/Jpy for example, but really too scary to take position as no idea where the market can move if news are important. The worst, they are talking... it take a long time

Due to testify on the semi-annual monetary policy report before the House Financial Services Committee, in Washington DC;
If you want to make news impostant then it is...the smaller the timeframe you focuse on the more it matters...I dont care it about it myself as a 4 hour trader primerly...good luck
  • #12,740
  • Jul 21, 2009 9:33am Jul 21, 2009 9:33am
Interesting that many beginners think it's the news that moves prices up and down. Speculating that if the GDP is good, investors will want to buy, they're gonna need USD to pay for stocks, and if everyone needs USD, it will be more valuable than other currencies... or speculating if the GDP is bad, everyone will want to sell all assets, and will want to have $$$ on their accounts, so prices will drop...

I think we can make up similar stories for every news... for both sides of the coin... but imo the most important news are interest rate decisions. All other news are just good for liquidity, they will trigger things to happen, those things that were in the charts anyways...

By the way, a good way to train your nerves is to sit in a very small trade, during news... did it many times on cable... and I do mean a very small trade indeed...

Quoting Shermenator
If you want to make news impostant then it is...the smaller the timeframe you focuse on the more it matters...I dont care it about it myself as a 4 hour trader primerly...good luck
forget about tomorrow, just steal away into the night
3 traders viewing now