No Brainer Trades | Page 689 | 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

  • #13,761
  • Feb 26, 2010 4:56am Feb 26, 2010 4:56am
Quoting n_aftab
Wasnt the feds chairman speaking yesterday, when he speaks you always get consolidation before, and spikes shortly after.

N
That's it. Thank you n aftab. I'm getting too cocky. bapxyz glad you didn't get burned at least.
Gone to a better place
  • #13,762
  • Feb 26, 2010 5:36am Feb 26, 2010 5:36am
Quoting smikester
Go down to a lower time frame and wait for a pull back of some sort. You may even see meaningful S/R levels forming. Choose the smallest lot you can and set a market order. A sell stop. Give it room. When it goes into profit, move your stops a bit, rinse and repeat. If you are lucky you jump on the train. If you are very unlucky you miss the train. But at least you won't get your arms ripped off.

Hi Smikester,

thanks got advice.
I actually preferred to wait until things a little cooled and started trading Japan close-London open. Made few pips then.
I have been trading BRV method for quite some time and have a good hold on detecting levels, but have 1 problem,. still take profits too early. i am practically scalping from these levels. I know our BRV is very statistically inclined guy , so I decided to start working seriously on increasing pip count as probability is really very high on this trades when you know what you are doing.
  • #13,763
  • Feb 26, 2010 5:41am Feb 26, 2010 5:41am
started reading and rereading BRV and Iron Man notes and rules posted on page 1. Those are priceless.
especially when it comes to trade management.
  • #13,764
  • Feb 26, 2010 5:44am Feb 26, 2010 5:44am
Quoting smikester
I'm glad no one rushed into the USD/CHF chart I posted yesterday. Talk about behaving badly. Is it near the end of the month, or something? Any ideas?

At least we had plenty of time to bail out when it went bad.


I noticed that it is better to keep own advice regarding trades as each one has slightly different take on these things.
I also avoid trading pairs that i have no understanding of and experience.
I trade only 5 pairs: G/U, E/J, G/J, E/U and G/CHF.
However, I noticed most of the guys here trade Australian crosses and some CHF crosses but the one with Pound.
  • #13,765
  • Feb 26, 2010 5:51am Feb 26, 2010 5:51am
Quoting smikester
I'm glad no one rushed into the USD/CHF chart I posted yesterday. Talk about behaving badly. Is it near the end of the month, or something? Any ideas?

At least we had plenty of time to bail out when it went bad.

Bail out? I had a nice trade with USD/CHF and trade still open.
Attached Image (click to enlarge)
Click to Enlarge Name: pic 3336.gif Size: 32 KB
  • #13,766
  • Feb 26, 2010 5:52am Feb 26, 2010 5:52am
I also have some technical question. How you guy set limit orders, for example. reactionary level looks like 135.73 on the chart. But price hits at 135.75-76 and bounces without filling me. trade is gone. Should I set limit order not at 135.73 as it is seen as a line on the screen but not to include spread. spread has to cross this price to pen position, so, if on line I see 135.73 and spread is 3 pips, order should be set at 135.76? am I right?
  • #13,767
  • Feb 26, 2010 8:30am Feb 26, 2010 8:30am
Quoting shiko
I noticed that it is better to keep own advice regarding trades
Duly noted which was why I posted a chart with no specific recommendation. With regard to your touch trade question it's all a matter of how much you want the fill. I tend to scatter a few small orders about on such as GBP/JPY where I know I'm lucky to be within 20 pips or so and then cancel those I don't want if i get too many fills. It also looks great when you later post a chart! LOL
Gone to a better place
  • #13,768
  • Feb 26, 2010 9:19am Feb 26, 2010 9:19am
I've found this week to be very difficult. A lot of my levels getting taken out, which has then damaged my trust in the ones which did hold meaning missed opportunities. Add to this a couple of moves which just missed my orders before running away nicely, and it's been pretty gruelling. Just in profit, I think, but not by much.
  • #13,769
  • Feb 27, 2010 6:13am Feb 27, 2010 6:13am
Quoting Interceptor
I've found this week to be very difficult. A lot of my levels getting taken out, which has then damaged my trust in the ones which did hold meaning missed opportunities. Add to this a couple of moves which just missed my orders before running away nicely, and it's been pretty gruelling. Just in profit, I think, but not by much.


I do not open more than 2 positions at 2 sides of the S/R range as BRV does.
so, exact entry is important for me. So, I just wonder, should we set entry including or excluding spread. If we see price bounced form sat 130.50 down, should we set our order at 130.48 if spread is 2 pips? or we still set order at 130.50? in case if we do not trade multple positions like you said.
  • #13,770
  • Feb 27, 2010 6:14am Feb 27, 2010 6:14am
Quoting Interceptor
I've found this week to be very difficult. A lot of my levels getting taken out, which has then damaged my trust in the ones which did hold meaning missed opportunities. Add to this a couple of moves which just missed my orders before running away nicely, and it's been pretty gruelling. Just in profit, I think, but not by much.
Interceptor, missed by 1-3 pips? It is what I am trying to get here.
see my post abovce, what do you think?
I simply noticed it happening time after time orders missed by 1-2 pips due to spread.
  • #13,771
  • Feb 28, 2010 5:39am Feb 28, 2010 5:39am
I think I can help some.
Lets say you have identified support at 100. You are currently at 125 and you expect a bounce of the 100. The levels you are looking at (on most charting packages) are BID levels. So, you want to buy this pair ( a fade trade) when the chart gets to 100.
When it does get to 100 your ASK level will be the spread above the chart and will not get filled unless you have entered your order at that spread or ASK level.
Some folks choose to figure that in and some choose not to enter unless the price goes threw there support line by at least the spread.
Or a bunch of other methods similar to what smikester has mentioned.
Personally; If I am going to be around to watch the charts I love to stagger enter. Depending on the pair and what is going on in the world (news, meetings etc.) I might start entering 5 pips before the resistance is hit and keep entering for many pips on the other side. This is not "martingale". So never allow your amount risked on the total of all these entries to exceed your money management risk levels.
  • #13,772
  • Feb 28, 2010 1:29pm Feb 28, 2010 1:29pm
Quoting shiko
Interceptor, missed by 1-3 pips? It is what I am trying to get here.
see my post abovce, what do you think?
I simply noticed it happening time after time orders missed by 1-2 pips due to spread.
Hi
Allow for the spread when you set your orders.
There's always a completely random outcome to each entry, TP, and stop. It's just that the 'annoying' ones which miss your order by a pip or two, or take you out by the same amount, or just miss your TP before reversing leave a deeper psychological impression.
  • #13,773
  • Feb 28, 2010 4:03pm Feb 28, 2010 4:03pm
Quoting Interceptor
Hi
Allow for the spread when you set your orders.
There's always a completely random outcome to each entry, TP, and stop. It's just that the 'annoying' ones which miss your order by a pip or two, or take you out by the same amount, or just miss your TP before reversing leave a deeper psychological impression.

Yes, I always hate to see it miss some good trade for 1-5 pips and then go. it might be somewhere before there was S/R just few pips away from current level.
I think I will not wait for spread to cross but it will depend upon market conditions.
  • #13,774
  • Mar 1, 2010 12:10am Mar 1, 2010 12:10am
I am new to this strategy, please help, it is true, sorry for my bad english.
Attached Image (click to enlarge)
Click to Enlarge Name: egbpusd_02.gif Size: 12 KB
Follow the rules and be successful.
  • #13,775
  • Mar 2, 2010 6:09am Mar 2, 2010 6:09am
Quoting .PeYmAn.
I am new to this strategy, please help, it is true, sorry for my bad english.
pretty good S/R. determine stop loss and TP. Then determine Risk:Reward and is it worth it. Then you're good to go.
  • #13,776
  • Edited 2:27pm Mar 2, 2010 10:20am | Edited 2:27pm
Quoting bapxyz
I think I can help some.
Lets say you have identified support at 100. You are currently at 125 and you expect a bounce of the 100. The levels you are looking at (on most charting packages) are BID levels. So, you want to buy this pair ( a fade trade) when the chart gets to 100.
When it does get to 100 your ASK level will be the spread above the chart and will not get filled unless you have entered your order at that spread or ASK level.
Some folks choose to figure that in and some choose not to enter unless the price goes threw there support...
Here's my take on it. Just as Interceptor and Bapxyz say really.

http://red-cabbage.blogspot.com/2010...y-formula.html
  • #13,777
  • Mar 2, 2010 5:29pm Mar 2, 2010 5:29pm
Nice blog Red Cabbage.
I have some problems printing from your blog. Any known issues or is it my standard "pilot error"
  • #13,778
  • Mar 3, 2010 12:35am Mar 3, 2010 12:35am
Quoting arsa
pretty good S/R. determine stop loss and TP. Then determine Risk:Reward and is it worth it. Then you're good to go.
Hi Arsa
Thanks for reply.
regards
Follow the rules and be successful.
  • #13,779
  • Mar 3, 2010 1:30am Mar 3, 2010 1:30am
Quoting bapxyz
Nice blog Red Cabbage.
I have some problems printing from your blog. Any known issues or is it my standard "pilot error"
I can't say I've tried to print from it. Was it charts or text?
  • #13,780
  • Mar 3, 2010 5:58am Mar 3, 2010 5:58am
Great blog, indeed ... thanks Red Cabbage ... very clear and concise - appreciated
3 traders viewing now