No Brainer Trades | Page 694 | 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

  • #13,861
  • Edited 4:48pm May 12, 2010 4:23pm | Edited 4:48pm
Hi,

I'm new to this method and I think I've spotted a setup for silver. But I am still unsure about defining how big the range actually should be and if it should include all highs.
If you look at my chart I see there two possabilities. Line one covers most of the highs, but line two is more conservative as it includes some lower highs too. Where and why would you put your lines?

Thanks in advance!

Janson

@seattlerust
I am interested in your trades too since I'd also like to trade this way (set & forget). My initial idea for profit taking is simply two fold risk.
One question: Have you had overall success trading NB especially intraday?
Attached Image (click to enlarge)
Click to Enlarge Name: silver.gif Size: 22 KB
  • #13,862
  • May 12, 2010 4:26pm May 12, 2010 4:26pm
Hi,
Sounds interesting..... I would definitely follow on how successful you are with the limit orders; with a full time job i would love to do that. I tried doing it but i haven’t been successful so far in my attempts(i dont have lots of trading experience). It would be very helpful if you can post your identified setups, which would help understand the mechanics of such trades with the longer term strategy.

Look forward for your posts.

Ciao

Quoting seattlerust
Hi NB Traders,

I haven’t posted here for quite awhile but as I am going to try to change my style of trading, I thought I would log the experience here for others to comment on. If it generates some interest, I will continue; hopefully I will be able to determine that interest from the comments.

[font=Times New Roman][size=3]What I am going to try to do is move my normal NB day trading into a long term style where I can simply study the market for one...
  • #13,863
  • May 13, 2010 2:13am May 13, 2010 2:13am
Hi Seattle

There are a number of traders who operate this way, I hope they will jion in to support you here soon.

If you look back you will find that Siam was very successful with this approach.

Good luck!

P.S. I am still wed to the screen!
  • #13,864
  • Edited 2:46am May 13, 2010 2:29am | Edited 2:46am
[quote=seattlerust;3718617]Hi NB Traders,

I haven’t posted here for quite awhile but as I am going to try to change my style of trading, I thought I would log the experience here for others to comment on. If it generates some interest, I will continue; hopefully I will be able to determine that interest from the comments.

Hi Seattlerust

I have "deserted" this blog for a while, but have come to glance every now and then. The reason was that I have also adapted NBT to suit me better and felt that to share that here would damage the purity of the thread and what BRV tried to teach.

My problem with NBT was the lack of hard and fast rules to follow (for me that is crucial). The end result was that I hesitated often and missed good trades, whilst taking most of the losers. I then researched individual setups separately (Over/under, bucket etc), but still did not have a system that would offer enough trades (but not too many) without massive drawdowns. Over time (lots of it, backtesting more than 3 years bar for bar!) I devised a "system" that I could live with. It is pretty much a trend following system, using a few of BRV's setups as entries.

It has hard enough rules and returns (only cable, but other pairs work just as good) a hitrate of 75% (to first target - at least breakeven). These figures are based on 40 months of data - the last 7 live trading. There are 12 trades per month on average. Only 3 months have returned a loss, never (so far) had more than 3 losing trades in a row (Apr 2008, Sep 2008 and Mar 2010)

I will gladly share my ideas, but need some input whether I should do it here or a new thread or email.

All credit should be BRV's as it was his teaching that steered me onto this path, but I certainly do not want to damage the NBT thread.

Happy trading
  • #13,865
  • May 13, 2010 3:49am May 13, 2010 3:49am
Quoting seattlerust
Hi NB Traders,

I haven’t posted here for quite awhile but as I am going to try to change my style of trading, I thought I would log the experience here for others to comment on. If it generates some interest, I will continue; hopefully I will be able to determine that interest from the comments.

[font=Times New Roman][size=3]What I am going to try to do is move my normal NB day trading into a long term style where I can simply study the market for one or two...
Hi
I'm looking forward to seeing how you progress with interest.
I trade a loose variant of NBT, with the hourly chart as my main arena. I tend to take around 12-16 trades a week, targeting 100 pips.
Good luck.
  • #13,866
  • May 13, 2010 11:40am May 13, 2010 11:40am
Mushwedu, would like to know more about your system. Pls post.
  • #13,867
  • May 13, 2010 11:53am May 13, 2010 11:53am
Quoting Mushwedu
Hi Seattlerust

I have "deserted" this blog for a while, but have come to glance every now and then. The reason was that I have also adapted NBT to suit me better ......
Hi Mushwedu,

IMWO, noone should simply follow in someone else's path blindly. We must all learn from those who have something to share, such as BRV, and adapt it to our own style, personality, genetic makeup, etc. No two of us are alike. Once we do that, we will own the result. What you have done is exactly what you should have done. You are to be commended. Great job!!

If what you have done applies to what I am trying to accomplish, I.O.W. to long timeframes and hands-off trading, I would like to learn about it. Whatever forum that you are comfortable with works for me, If it is based on NBT, I personally see no reason that you could not post it here.

Thanks for sharing.

SR
  • #13,868
  • May 13, 2010 12:35pm May 13, 2010 12:35pm
Well, I have backtested nine trades, with six winners and three loosers. Since the last three were the losers, it is time to sit back and evaluate. Here is how I have proceeded to date:

I have used the obvious S/R levels off of the weekly chart. As BRV has advised, grab the ones that are easy to see, that everyone will see. That is what I did. I began with an account of $20,000 and pretty much held to a 1% risk on a trade, or on trades open at any one time. I set stops at next visible support or resistance level and adjusted lots accordingly. Using mini lots. Profit target was set as well at next obvious S/R level. I did not attempt to scale in or out as I want this to be a "set-it-and-forget-it" scheme. I am restricting myself to four pairs: GBPUSD, EURUSD, USDJPY and AUDUSD.

The first six trades were the winners and were made based only on weekly levels. Feeling pretty good, I then started looking at levels on daily charts (with peeks at the 4 Hour) for the next three. They were losers. So that is where I will now begin my investigation.

Here are the results. For your information, I am using a product called ForexTester version 2.5 for this.

SR
Attached Image (click to enlarge)
Click to Enlarge Name: Results.gif Size: 25 KB
  • #13,869
  • May 13, 2010 1:15pm May 13, 2010 1:15pm
OK, after review, I conclude that even in hindsight, the first AUDUSD trade was viable; I would take it again. The second AUDUSD was perhaps ill-conceived; and the USDJY was definitely not well advised.

So, perhaps after the first six trades winning I got somewhat cocky. Watchword is to take more care. Back at it now.

SR
  • #13,870
  • May 13, 2010 2:49pm May 13, 2010 2:49pm
This is one of the best threads on Forexfactory.

Even though I havent posted before on this thread I just saw a set-up which is as close to perfect as I have seen. Unfortunately my capital is tied up on EU, have a small position only. Wish I had more capital.

Take a look at the DAILY USDCAD chart. Its pretty self explanatory.

I took my entry at 1.0150 SL: 1.0090 T1- 1.0333 T2- 1.0435 T3- 1.07xx
  • #13,871
  • May 13, 2010 2:53pm May 13, 2010 2:53pm
Quoting seattlerust
Well, I have backtested nine trades, with six winners and three loosers. Since the last three were the losers, it is time to sit back and evaluate. Here is how I have proceeded to date:

I have used the obvious S/R levels off of the weekly chart. As BRV has advised, grab the ones that are easy to see, that everyone will see. That is what I did. I began with an account of $20,000 and pretty much held to a 1% risk on a trade, or on trades open at any one time. I set stops at next visible support or resistance level and adjusted lots accordingly....
Hi

Just a suggestion, look at USDCAD for a set-forget type of strategy. Its a great pair with easier pips. Not too fast and easy to see levels
  • #13,872
  • May 13, 2010 4:23pm May 13, 2010 4:23pm
Woohoo, this thread is moving again! I will start posting here too periodcally too! Great Thread
  • #13,873
  • May 13, 2010 5:32pm May 13, 2010 5:32pm
Quoting neo1599
Hi

Just a suggestion, look at USDCAD for a set-forget type of strategy. Its a great pair with easier pips. Not too fast and easy to see levels
Hi neo1599

Don't overlook the potential bearish weekly candle forming.

Regards,

BabeFX.
  • #13,874
  • May 13, 2010 9:21pm May 13, 2010 9:21pm
Quoting neo1599
Hi

Just a suggestion, look at USDCAD for a set-forget type of strategy. Its a great pair with easier pips. Not too fast and easy to see levels
Hi Neo,

You are right. Nice level. As you, I am also in a EURUSD Long trade though. I entered at 1.2527 and am trying not to watch (set it and forget it, right??). So far, so good though. I generally don't do well on the CAD. Don't know the reason. Most of my trades there in the past have been day trades and I suspect that it might be a different story with my new strategy. Eventually, I will add it to the stable.

Thanks for your comments. Hope to hear from you some more.

SR
  • #13,875
  • May 13, 2010 9:24pm May 13, 2010 9:24pm
Quoting Saxon
Woohoo, this thread is moving again! I will start posting here too periodcally too! Great Thread
Hi Saxon,

I hoped that this would be the result when I started posting about my new experiment. I really loved this thread before BRV started the Chat but the chat drew most of the people away and things went very quiet. Maybe we can get things moving again.

SR
  • #13,876
  • Edited 11:25pm May 13, 2010 10:09pm | Edited 11:25pm
Quoting seattlerust
Hi Saxon,

I hoped that this would be the result when I started posting about my new experiment. I really loved this thread before BRV started the Chat but the chat drew most of the people away and things went very quiet. Maybe we can get things moving again.

SR
Hi Seattlerust,
Just wanted to ask if you place your order at a lower level time frame from the setup chart i.e. if you have identified the S/R level on weekly then which TF would you place your order on? and if the S/R level is from daily then which TF would you use to place the order? Last but not the least, what would be the smallest TF you would prefer for the set and forget strategy and whats your SL strategy?

Thanks in advance.
  • #13,877
  • May 14, 2010 12:59am May 14, 2010 12:59am
Quoting vincentprice
Afternoon people

CADJPY is moving back up to 92.00 - 92.11, strong support/resis zone before the dramatic moves of last week. Also confluence here with the 78% fib retrace of the last high to low move on the daily.

If price can hit these levels reasonably soon (next few hours) without hanging around, I will take a couple of shorts at intraday resis levels..

Any thoughts about this nobrainer . . .

VP
Looks like your trade might take place today, Vincent. You were right, I was right. We are now sitting on the monthly support level of 90.60 which has been violated by a weekly close well below there last week. This is not BRV territory, strictly speaking, but if we break 90.60, next areas to look for are 90.00 and 88.43.

88.43/88.23 will provide us with a bounce area.
Gone to a better place
  • #13,878
  • May 14, 2010 8:00am May 14, 2010 8:00am
nice to see some action again .. as your talking about less time consuming strategies based on brv style setups .. ive got one where i only check the charts every 4 hrs for possible setups .
i use it aswell as the brv method .
its based on price breaking s/r level and retracing back to trigger the trade ( brv stacking bricks )...
also in the hope of catching a new 4hr chart trend ..
the thread is booker66 4hr strategy .. would love some critical analysis .. good or bad . heres my latest post .

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad2.gif Size: 35 KB
  • #13,879
  • May 14, 2010 2:03pm May 14, 2010 2:03pm
Quoting neo1599
Hi

Just a suggestion, look at USDCAD for a set-forget type of strategy. Its a great pair with easier pips. Not too fast and easy to see levels

Hi neo1599;

That looks like a good trade in the making.

Regards,

BabeFX.
  • #13,880
  • May 16, 2010 9:39am May 16, 2010 9:39am
Quoting BabeFX
Hi neo1599;

That looks like a good trade in the making.

Regards,

BabeFX.

Hi

Took the trade @ 1.0150 SL now below 1.0290 on 1 and others have it below 1.0190.

I am looking for targets: 1.0437, 1.07xx the last 1.1xxx

Cheers
6 traders viewing now