Discussion about no brainer trading..

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Hi all,

my metal capacity is limited :P

heard always that trend is frd... yes true .. but how can we make use of it?

i am thinking of a no brainer system... ( jacko etc is similar too )

u look at TF

- going up from left to right = buy

- going down from left to right = sell

- ranging = i dont know

thats y i hope i can get more insights here on.. how SL , TP should be used etc..

shall we?

 

will be trying out eur/usd

average range these days is 200 pips.

what you folks think is a good SL and TP?

 

yes the trend is your friend.

1) start looking at the daily, weekly, 4h,1h time frames

2) what way is the main trend?

3)what way is the market moving today?

4) drAW support and resistance on all time frames, use colors for the different timeframes so you do not get confused, from hourly and major points on daily/weekly

5) move to lower time frames 15m, 5m, also draw support/resistance here

6)now place trades in direction of todays trend for intraday trading, or use a larger stop for a longer period of trading.

7) only rule to remember is only enter from support/resistance lines

8)for added security of trade you can also add pivots, you will have a greater

odds of winning if both pivots and support/resistance are on your side

9) forget all the fancy indicators

 
Foreverold:
yes the trend is your friend.

1) start looking at the daily, weekly, 4h,1h time frames

2) what way is the main trend?

3)what way is the market moving today?

4) drAW support and resistance on all time frames, use colors for the different timeframes so you do not get confused, from hourly and major points on daily/weekly

5) move to lower time frames 15m, 5m, also draw support/resistance here

6)now place trades in direction of todays trend for intraday trading, or use a larger stop for a longer period of trading.

7) only rule to remember is only enter from support/resistance lines

8)for added security of trade you can also add pivots, you will have a greater

odds of winning if both pivots and support/resistance are on your side

9) forget all the fancy indicators

what do you think will be a good SL and TP value for eur/usd.. intra day. now that the average range is 200pips.

what risk reward ratio is good?

 

no brainer trading discussion

--------------------------------------------------------------------------------

Hi all,

my metal capacity is limited :P

heard always that trend is frd... yes true .. but how can we make use of it?

i am thinking of a no brainer system... ( jacko etc is similar too )

u look at TF

- going up from left to right = buy

- going down from left to right = sell

- ranging = i dont know

thats y i hope i can get more insights here on.. how SL , TP should be used etc..

shall we?

 

Forexite quoteroom

Hi Foreverold, pls help , i'ne follow zour intallation instruction, but in my floder c:historylib, unable to find *.xpo, instead all files are *.zip, hence ,can not import into global server.what wrong with it, thanks for your early reply, i have been stucked for a week and do not know what to do.

 

OPEC

Olivier Jakob with Petromatrix said high oil inventory levels in the United States, especially at the delivery point of U.S. crude at Cushing, Oklahoma, have been putting more pressure on U.S. oil prices than on North Sea benchmark Brent crude.

Oversupply and the fragile state of the global economy will be among the issues facing the Organization of the Petroleum Exporting Countries when it meets on Dec 22. Analysts expect no change in OPEC's output policy.

Saudi Arabian Oil Minister Ali al-Naimi told reporters in Cairo that he was satisfied with the trading range of $70-$80 seen in recent weeks.

 

"Friday's unemployment data in the U.S. definitely caused U.S. dollar shorts to rethink their positions," said Sacha Tihanyi, currency strategist at Scotia Capital in Toronto in a note to clients. "The market's short-term reaction was based not solely on the employment data directly, but also its impact on the interest rate outlook."

The U.S. currency extended its rally from Friday. up 1.7%, its best one-day performance in a year, after the government said the United States shed 11,000 jobs in November, confounding forecasts for 130,000 job losses.

 

President Obama has nominated Bernanke, 56, to serve another term when his current one expires in January. Now, the vote on Bernanke moves to the full Senate, where he is expected to win confirmation, although the vote could be delayed.

And as Thursday's vote shows, it could be close, compared to past confirmations of Fed chairmen.

Four Republicans, including Sen. Robert Bennett of Utah, Sen. Judd Gregg, N.H., Sen. Bob Corker of Tenn. and Sen. Mike Johanns of Neb., voted to confirm him. One Democrat, Sen. Jeff Merkley of Oregon, voted against him.

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