No Brainer Trades

USDJPY Trade works. At least, as the rule, I will make the stoploss to BE.

But I did not trade that. When it reaches my line, the time is near (within 30 minutes) the US news time (Pending Home Sales m/m). I don't want to trade before the news time. So I passed this opportunity.

Anyway, it shows no brainer trade is working. Next ball ...

BTW, what time frame candle close you are looking at.
I was watching 1 min when certain levels are approached and it does react when there is interest but it is interesting to kow what candle close you are looking at. I think it is not 1 min candle although in some extreme cases one min candle which reacts like water pored on hot pan it can be a good signal too.

Many people still using this technique?

I took a short trade on the GU, did pretty much what I expected but I bloody forgot to change the lot size so instead of being able to take half off at +30, I just took it all off and accepted that mistake

I owe a lot to this thread and the guys from the NBT chat. I discovered this thread almost a couple of years ago, and it was a magnificent introduction to what price action is.

Nevertheless, it has been recently when I finally "got it". This system is extremely powerfull (on ocassions, it has allowed me to have an astonishing milimetric precision with my entries), but it requires lots of time of dedication, as well as extreme discipline, because there are supports and resistance everywhere, but only a few levels fulfill the requirements posted by BRV, RedCabbage , IronMan and some of the other great traders of this thread.

Thus, I really believe this whole thread is worth your time (only if you are in the disposition to practice, practice and practice). I would recommend to the people who are starting with this system to read, at least, ALL the posts of the traders I mentioned above.

Enjoy !

I'll second that. This is without a doubt my favourite thread on FF. I wish it was still active, but even so it's still 1000 odd pages of some of the most simple, yet important and overlooked information that a trader can find.

Just thought I'd post my results for the week (couple days actually) on a live account.

Just started with this thread so still absorbing but I took a few trades.
I had 5 winners for +304 pips and 1 loser stopped out at -38 pips.

I like the strategy, pretty easy to spot the heavy s/r. It's early though so we'll have to see about next week and beyond.

It was a small tight one but had a quick reaction

http://my.jetscreenshot.com/2814/20111011-i16z-92kb.jpg

Testing picture hosting. Click to enlarge!

Hi RedCabbage,

Very long time no see. Do you use any chatroom recently???

cheers,

kk007

Yes

www.nobrainertrades.com/live-trading-room

Something to keep an eye for the week, just a couple of notes:

- Do not take trades based on these charts if you do your stupid
- Two traders can trade these charts but one will make a profit while another one may lose
- News and numbers go above charts anytime
-Like RC always says: 'Don't machine gun, sniper!' (don't trade all levels)
- These charts are more an example than anything else
- Gray area's are turning points based on entry zones

http://i55.tinypic.com/2w5rnf9.gif

http://i53.tinypic.com/b6984l.gif

P.S.: The trades on the charts are based on a martingale system so do not sell based on these trades.

Hi Guys,can someone tell me....say we are coming down to a good support zone on the 1hr t/f does one then scale down to the 5m to get into the trade,or are these all touch trades,Many thanks T

According to the thread all trades should be taken on a touch level. My advice to you is to no only trade these levels on themself. BRV has added news as the most important element of movements made by the market. Read the nbt site to catch up on all the news articles.

This is an awesome thread... especially the first post
Keep up the good work TS!

Hola!
I'm new here, this was the first topic I read, f*** awesome, now need to implement this by my own

does anyone know when to use a bottom of the barrel entry vs taking the entry off of the high/low that has historical resistance?

I'm so pissed @ myself, I studied this tread for the last week and decided I was going work the larger time frames and go with the flow. I had some honey do's, so I put in a limit order last night @ 1.3420 on the euro. 40SL, 100 TP, and 40 TS. Missed that F**ker by8 pips. Time to get a new wife! After reanalizing it I probably could have put the buy in @ about 1.3432-35. Anyway my loss. Hey guys one question on the fibs? Say I buy 76.4 and I take profit. Can we or is it a good idea to use the same fib set up to sell. Say it runs up to 50 and I have a support/resistance close to it. Can you or do you use that same fib setup as a "ping/pong" for lack of better words. up and down, or do you use the fib one shot and wait for the next fib setup? hope I was clear here on this and did not confuse you. Once again thanks for the tread. Honestly can;t say it works yet, but a whole hell of a lot better then what I have done on my own, which is nothing, well not true this month I'm up $ 4.65. Watch out George Sorrros!

Hey Pipsy!
I have spent lots of time trading with the NBT style, and let me tell you: it works. The problem? It took me around 18 months (tarding part time) to realize what it is all about: psychology.

You will find fibos, bucket buttoms, Qms and all NBT patterns everywhere; sometimes you will see them work and sometimes failing. And here is where the "context" (ie, what happens in higher TFs) comes into play: in the case of fibos, they will work much better if you draw them in a clear trending market, as traders will be looking for fibos 38/50/61 (and convergence with good SR levels) to ride the trend. They might work in a range market, yes, but if you really want to become profitable, I recommend you to start step by step, specializing in one sole market situation (trends, ranges, trading sessions, etc).

For instance, you want to trade only in clear market trends (HHs with HLs, or viveversa for a downtrend): in an uptrend, you can only take longs if you have a QMs or BBs which coincide with a fibo level (in case you love fibos). Also, you can set a rule in which you will only take trades which will give you, at least, the double of reward vs risk. In this way, you will not only increase the probability of success of each trade, but also will help you become very picky with the setups. In trading, less is MUCH more.

Jed

My bad: I forgot to mention in the last message.

In the beginning, I said it was all about psychology: it is imperative follow, with the utmost discipline, rules which allow us to get to know the market step by step, bit by bit.

In my opinion, we can not pretend to start trading all of NBT's patterns which pop up in our screens, as patterns are just setups we have seen working several times before, which will allow you have a specific and objetive TP and SL, but nothing else. It is YOU who will determine if the market is trending, ranging or doing anything else YOU are just not feeling comfortable; then, based on this information, it is YOU who will determine whether to take only longs, shorts or if it will be better to wait for something clearer.

But, how will you know if market is likely to keep trading, ranging or to keep doing something really you simply dont understand (in this case, you have to stay OUT!)? Well, experience: hours and hours of staring at charts . That's it!

Jed

For the NBT traders:
Be cautious for the first two weeks of January because alot of portfolio's get rearranged and the levels may be played with. To all a happy new year, and a prosperous 2012.

let's see if i've lost someting ?
Sp daily I've forgot small bar retesting a resistance and it do a cluster close with the previous bar sounds strange yesterday they had to mark up.
No mark up yesterady we went down to the river.