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No Brainer Trades

  • #13,261
  • Oct 16, 2009 4:52am Oct 16, 2009 4:52am
I set short orders for USD/JPY at 91.55-91.70.
  • #13,262
  • Oct 16, 2009 5:15am Oct 16, 2009 5:15am
Quoting shiko
Hello, guys. I have been running rounds and trying different methods like BWILC, $H break out, but as it seems the ebst results I have ever had were with BRV method of No Brainers. So, I am going to concentrate since now on on simple things like S/R. I have had good accuracy with this method and even traded my first OPM with mixed sucess mainly because I did not let my profits run. Which I do now.
Today had short order on GBP/USD at 1.6400. was missed by 1 pip.
and another short at GBP/CFH at 1.6698 and 1.6725. Missed by 10 pips. Both trades...
Hi Shiko

You need to come up with an entry formula to catch any early turns but not let it compromise your stoploss position too much.

Of course the spread will affect the order fill as it is the sell price that must get hit in order to put you in so GU buy would have to be at least 16403 to pull you in.

In my opinion just accounting for the spread is not enough so I add a little extra on too in case there is early selling ahead of s/r.

From a level like 16400 I might deduct 5/10 pips for any early turn and then half the spread to give me the mid price as it appears on my charts, so my entries are either:-

+/-5(+/-0.5xSpread)

or

+/-10(+/-0.5xSpread)

depending on the trade and former PA at the level.

Good luck!
  • #13,263
  • Oct 16, 2009 6:24am Oct 16, 2009 6:24am
Quoting RedCabbage
Hi Shiko

You need to come up with an entry formula to catch any early turns but not let it compromise your stoploss position too much.

Of course the spread will affect the order fill as it is the sell price that must get hit in order to put you in so GU buy would have to be at least 16403 to pull you in.

In my opinion just accounting for the spread is not enough so I add a little extra on too in case there is early selling ahead of s/r.

From a level like 16400 I might deduct 5/10 pips for any early turn and then half the spread to give me the...

Hi RedCabbage, I was also thing starting setting orders 5-10 pips lower higher than support. My risk is very low. I usually risk 0.2-0.25% per trade and it can consist of 2 positions...stop loss 40-50 pips and so, I do not think there will e much dangerous. I am eying now NZD/USD at 0.7369 for long, USD/CFH for short at 1.2035 and another level higher. USD might be interesting to go long at 148.11 and then 147.63 both long.
GBP/CFH after this big retracement probably 1.6725-1.6729 short would be ok.
  • #13,264
  • Oct 16, 2009 7:34am Oct 16, 2009 7:34am
USD is rising across the board and news are 30 minutes away. took no positions although first targets are hit on some pairs. Gut says not yet. I have second targets depending on after news reaction. I personally hate Fridays.
  • #13,265
  • Oct 16, 2009 2:34pm Oct 16, 2009 2:34pm
Quoting sam0182
Once again, great level Booker. I took the short at 90.2 and stops were able to hold through the march up to 90.5

Okrutny, I'm long USD/CAD 1.03 and 1.026, looking for some sort of reaction here as well. With equities hitting 10k, perhaps we can look for some sort of break on the USD beat down in confluence with 1.03 support.
have a good weekend everybody... off to the ye old english tavern for a jug of ale and a hearty wench
  • #13,266
  • Oct 18, 2009 5:19pm Oct 18, 2009 5:19pm
Hi to all nobrainer followers i want to ask about my S/R levels and trades

http://img44.imageshack.us/i/38812325.gif/

http://img190.imageshack.us/i/50974508.gif/

http://img190.imageshack.us/i/95316094.gif/

My predictions;
Eur/usd
go short around at 1.4962-1.4966 levels,
long around at 1.4841-1.4844 levels, for 20 pips (intraday scalping)

Gbp/usd
short around 1.6381 level about for 40-50 pips

Usd/chf
short around .0174 level about .0225 for 20 pips

I am just trying to learn nobrainer style of trading i am just a newbie i want to check am i doing things right. i wait for comments

Thank you
Have a nice pips
  • #13,267
  • Oct 19, 2009 10:56pm Oct 19, 2009 10:56pm
What happened to Billy Ray? He hasn't been around for about two months.
  • #13,268
  • Oct 20, 2009 2:26am Oct 20, 2009 2:26am
I am currently reading through all thread from the page one and finally found it where BRW writing about stop losses he uses. They are mostly tight. 15-20 pips. and as I see 40 pips is the widest. actually, when we are right 15-20 pips is enough. Left tonight USD/JPY order at 90.17. Had to close at 5 pips profit as it looked like resistance started forming above. nevertheless stop loss of 15 pips was enough for hours on this level.

I currently set long orders on GBP/CFH at 1.6495 and 1.6475. Eur/JPY 134.78 and 134.15. Prices differ a little from MT4 as I trade Oanda. difference 3-4 pips and I also add spread as I noticed price often doe snot reach my target due to spread.
  • #13,269
  • Oct 20, 2009 3:25am Oct 20, 2009 3:25am
Interesting, USD/JPY actually hit my target of 18 pips. I was aiming for it cause saw some resistance few pips above. unfortunately I closed position earlier fearing it can go against me.
  • #13,270
  • Oct 20, 2009 3:47am Oct 20, 2009 3:47am
Quoting hans356
What happened to Billy Ray? He hasn't been around for about two months.
same here... he must be busy, hans. or on long vacation
  • #13,271
  • Oct 20, 2009 6:00am Oct 20, 2009 6:00am
Was wondering what happen too. He hasn't updated his blog since July.
  • #13,272
  • Oct 20, 2009 10:25am Oct 20, 2009 10:25am
USD/CAN shot up. Now I am thinking where opportunity to go short exist. Downtrend has been quite smooth. so, if we consider 1.0993 as a starting point of downtrend for this period and use Fib retracement. 50% retracement should be around possible entry of 1.0628-1.0646. It is the clearest place i can find. I see some resistance at 1.0544-1.0552 but it has been less proven and it is under 50% retracement. This is rate news that caused this candle so gotta be careful.
What other think of those levels I mentioned?
  • #13,273
  • Oct 20, 2009 10:26am Oct 20, 2009 10:26am
Beautifull "Over and Under" that played out on the Loonie.
  • #13,274
  • Oct 20, 2009 10:35am Oct 20, 2009 10:35am
Quoting belekas
Beautifull "Over and Under" that played out on the Loonie.
Yeah, same as GBP/JPY last week... but wit loonie it is really strange. rate stayed same, expectation were that rate won't change, so, why this candle?
  • #13,275
  • Oct 20, 2009 10:38am Oct 20, 2009 10:38am
Damn, loonie knows how to move. wow wow wow. I am too scared to short.
I am short on GBP/ USD from 164.72. 70 pips so far.
  • #13,276
  • Oct 20, 2009 10:39am Oct 20, 2009 10:39am
Quoting shiko
Yeah, same as GBP/JPY last week... but wit loonie it is really strange. rate stayed same, expectation were that rate won't change, so, why this candle?
Just enjoy the outcome and care less about why. Where and when its what matters most.
  • #13,277
  • Oct 20, 2009 12:33pm Oct 20, 2009 12:33pm
Quoting shiko
Damn, loonie knows how to move. wow wow wow. I am too scared to short.
I am short on GBP/ USD from 164.72. 70 pips so far.
hey shiko.. i shorted at 1.6471 got out for 120 pips .. you still in .. perfect bounce off the daily 76% retracement .. wondering if it will continue a lot lower but decided to get out at my target .

Attached Image (click to enlarge)
Click to Enlarge Name: Noname.gif Size: 14 KB
  • #13,278
  • Oct 20, 2009 12:49pm Oct 20, 2009 12:49pm
Quoting booker66
hey shiko.. i shorted at 1.6471 got out for 120 pips .. you still in .. perfect bounce off the daily 76% retracement .. wondering if it will continue a lot lower but decided to get out at my target .

Attachment
I shorted at 164.72 got a=out at 163.30 good day. The most important. i saved myslef from big DD into which I allmost got due to mixing too many things. since now on only BRW!
  • #13,279
  • Oct 20, 2009 1:07pm Oct 20, 2009 1:07pm
Quoting shiko
Interesting, USD/JPY actually hit my target of 18 pips. I was aiming for it cause saw some resistance few pips above. unfortunately I closed position earlier fearing it can go against me.
I tooks like I was too rush. Took a look, the pair hit not only my target of 18 pips but went 80 + pips up. and with max DD of just 10 pips.
  • #13,280
  • Oct 20, 2009 1:18pm Oct 20, 2009 1:18pm
Quoting belekas
Just enjoy the outcome and care less about why. Where and when its what matters most.
nicely put .. obviously a man at ease with his trading .. a place i aspire to be but a long way from . thanks ..

nice one shiko .
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