Name: Just call me Steve
Location: Denver, CO, formerly New York, NY and Stamford, CT
Years Trading: 13 total, 9 professionally
Work History: 2 years sell-side (name redacted investment bank) Risk Arbitrage (equities) analyst, 1 year sell-side FX analyst (name redacted investment bank), 3.5 years buy side (name redacted hedge fund) trader/analyst global macro and credit, 4 years Commodity Trading Advisor, 2.5 years proprietary.
Examinations: Series 3 (National Commodity Futures), 30 (NFA Branch Manager), 34 (Retail Off-Exchange Forex), 7 (General Securities Representative), and 63 (Uniform Securities Agent State Law) FINRA examinations
Focus: Forex (short term, this blog’s focus) and Energy Futures (short term) and Equities (long term)
Style: Highly technical using raw price action and measured movements to seek pinpoint entries. This is a forward-looking market, advantage of slow-to-learn participants by trading into events. Systematic to the point of forecasting price movements and determining price exhaustion.
Risk Philosophy: High reward to risk keeps the doctor away. Position sizing conservative. Keeps sanity in check and everyone happy. Typically look for a 3 to 1 reward to risk minimum. Higher the better. 4 or 4.5 to 1 is typical.
This simple blog has been my personal thought repository for all things daytrading since its inception. In that time, I have introduced a number of unique concepts including Liquidity Gaps and a wide array of Measured Movement principles which are now in use by a very large group of traders. Here, we look at “inner” market mechanics while using only prices and volumes themselves and offer some of the deepest explanations of such herein.
A word of warning: many paid trading educators now use such concepts and charge quite the excess of funds to “teach” what is essentially open source material that started and is continuously provided on No Brainer Trades. It is one of the reasons we started branding our own material in 2015 and stamping our name on what has been continuously rehashed over the years. Use caution with others.
This blog started approximately five years ago after a hiatus from the corporate world. I decided to leave my job at a large hedge fund and go solo. The market was heading into a recession and things were just simply starting to get ugly in terms of growth. I always wanted to work for myself and partnered up with some close friends in order to make this happen.
Writing started when I found myself having too many gaps through the course of my day. I focused strictly on foreign exchange, and with close to zero operational work to keep me busy, started cruising the internet and seeking ways to vent my findings.
In this search I came across a slew of eager traders clamoring over techniques and strategies that simply made zero sense to me. In an effort to simplify things, I drew one line on my charts, posted them, and said “if / when price gets here, it’s going to turn”. These lines were nothing more than areas of strong historical support or resistance, e.g. magnets for order flows. I needed a name, so I used the first thing that came to my head: “No Brainer Trades”. I kept it simple.
The more charts I posted the more questions people reading them had, so I began a series of other posts dedicated strictly to explaining various technical market movements. This led to many other things that I continue to write about today, including psychological aspects, standard price patterns that usually go under mainstream radar, and behavioral trading.
I love the markets and I’m a complete addict in every sense, but I use my sensibilities when it comes to putting on exposure. I am still very heavy-centric on foreign exchange and macro environments in general, but I monitor a great deal of instruments.
Who Reads NBT?
We get all walks of life. Our main demographic is individual traders over the age of 35 with a high net worth, followed by individual traders under the age of 35, and many professionals as well. NBT gets regular visits from many large banks and hedge funds, prop trading firms and other financial institutions. Because of this depth of readership, I make it a priority to put the concepts discussed here in an easy to understand format without watering them down to an ultra-simplistic view of price behaviors or the markets themselves.
Of course, none of this would be possible without a hand from sites in which we have been featured: