Long-term trend trading with large pip SL - Successful Strategy?

Beginner Questions
1

  • Does anybody trade like this?

  • Is this a relatively ‘safe’ strategy?

  • Have you been a winner?

Appreciate the advice. I am really thinking about this. :slight_smile:

2

ust formulate your strategy for yourself in solid rules. If you have a full rule based strategy, you can backtest it. You can find the edge of your strategy very quickly, if there is one!!!

Best of luck,
Dutch Trader

3

+1. In addition, before you do anything. Go to the top and start with babypips school. Before you can do anything you need to have a solid understanding of the basics. The more you understand of the basics, the easier it will be to take Dutch Traders advice. Good Luck
Gp

4

Hi Wealthytrader,

This is a link from other forum about, who I think, a good position trader. He doesn’t specify how many pips SL to be used, that’s entirely depends on the trader and the system, but he holds positions around a year or so.

Cheers,

5

Different traders will have a different response which is why you need to determine if it will work for you. What works for one trader does not work for another trader and if you trade with the wrong strategy for yourself you are set to fail.

6

To me, I don’t think it is a good strategy. Approximately 5-6 years ago, I did joined Vladimir Ribakov club, which he used this kind of strategy. It wasn’t effective to me because sometime 1000++ of pips DD for long term trade. In my opinion, a trade more than 80-100 pips DD, it was already a ridiculous DD. Although putting on longer term trade, you have better way to look for an entry instead of waiting it to come back.

7

So what’s the condensed version or strategy from the link? :slight_smile:

8

Somewhere in the thread, another poster put the essentials in a pdf. I forgot on what page though. Try browsing through the attachments.