Morning to you, Whatcha watching tonight? I'm still at work, I'll post a chart or two when I get home.

No Brainer Trades

It happens, even during the most perfect of setups there will be moves that make you scratch your head and shake your fist More importantly is to have a maximum stop-loss defined. No lallygagging, no moving stops in hopes that things reverse. ...

No Brainer Trades

Fear is something that yes, will probably only be overcome with screen time, experience, and confidence. As for that trade, I think you actually made the right decision to get out of it (we'll see, but right now it's looking like a false breakout). ...

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You can never be 100% positive a level has broken until the move is well under way. There are some things to look out for, though. Firstly and most importantly it should be a level that has been tested multiple times, for a solid breakout I think ...

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I traded mostly breakouts until I came to this thread. I personally love trading a good one because the moves can be so impulsive and quick, but I've found them to be better used as just another tool in the kit now combined with fading S/R. For ...

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Yes, oil is a good thing to watch when trading the USDCAD. The Bank of Canada cut rates this week too, but they were in line with expectations. As for retesting S/R on a breakout, multiple timeframes can be used. For example on the EURUSD break this ...

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I would keep an eye on commodities if you're watching the USDCAD and bear in mind that fridays can be kind of whacky trading days. I've slowly been adding pairs to trade as I've moved onto trading the European open recently (as opposed to just ...

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On that chart I think we may break south in the next few days to retest 1.2368

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I think you'd be unlikely to see a breakout north on this chart right now.

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I wouldn't completely ignore them, certainly you should have a basic grasp of how they work and can affect the market (today was a very good example of that), but if you know the basics then you are probably all set.

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The thing is that it doesn't affect forex a lot. The USDJPY options today were extremely large, large enough to warrant a bit of coverage on morning CNBC airtime which generally focuses mainly on equities and fixed income. FX options expire every ...

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Although I could be wrong, I don't believe there's any way to know which currency pair(s) will be affected by options expiry dates without actually hearing about large option orders from the floor. FX options data is not published or widely ...

No Brainer Trades

I had a limit sell at 90.15, it was a true no-brainer; a daily level on a 'spike' bar, stochastics were overbought on the H1, and on H1 from the 14th to today, we were setting up very nicely for an inverted U where downward action accelerates away ...

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Definitely having a plan helps a lot. I've found that the more I'm using one, the better it's getting. It takes a lot of apprehension out of some of the trades, especially the losing ones, because if you have a plan, it's easy to accept the loss for ...

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Someone in this thread had emailed back and forth with BRV around Christmas (I think Willowgal maybe?), he's been busy and is planning a big update supposedly Anyways, ECB only cut rates by 50 bp, what most traders were expecting. I wonder what ...

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yeah I wasn't too worried about it given the circumstances, but stopped out with a relatively small loss so onto the next trade

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Short EURUSD at 1.3160 (it was an inverse bucket on lower time frame, as I expect a breakout if we push south of 1.3130 so I'm just trying to get a better price). I'm exhausted though, so I've set a hard stop of 40 pips, a trail-stop that goes into ...

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Actually ending up holding off on any EURUSD longs and went short at 1.3240 down to 1.3100 for a nice 140. I had 1.3325 marked up and missed it.. because the alert I set was for the AUD/CAD for some reason! Still got in on a bucket that formed on ...

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Siam, what do you think about the EURUSD? Been a while since we've seen any bounce, I'm wondering if before Thursday's rate announcement we might see prices retrace a bit upwards. That's what I'm mainly going to try to play tonight if I get a good ...

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I've only been trading for about a year, so take my interpretation for what it is as I'm definitely not an expert. I know it gets said often, but 'it depends.' A news piece may one day drive the market and on another day may be completely ...

No Brainer Trades