long term trading (weekly charts)
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  1. #1
    spot4x is offline Newbie
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    Default long term trading (weekly charts)

    Ive been a forex trader for over 22 years, tried everything from scalping to swing trades, its not easy, but if you really want to make lots of pips, go to longer time frame charts, I trade off weekly charts. I only enter about 5 trades per year (per currency) but avarage 1500-2500 pips per trade.

  2. #2
    mrchilled's Avatar
    mrchilled is offline Master Contributor and Member
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    Good to have an experienced trader like yourself on this forum.
    When you say you trade on weekly charts, do you use daily or other time frames to time your entry / exit. Also how do you trade long term, surely not on a daily rolling? 3 month bonds?

  3. #3
    spot4x is offline Newbie
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    Quote Originally Posted by mrchilled View Post
    Good to have an experienced trader like yourself on this forum.
    When you say you trade on weekly charts, do you use daily or other time frames to time your entry / exit. Also how do you trade long term, surely not on a daily rolling? 3 month bonds?
    I place trades from weekly charts, stops are not small, so to minimize risk I trade small contracts and let time work for me, forex is the longest trend market in the worl....so let time work for you

  4. #4
    spot4x is offline Newbie
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    I use very simple indicators, I add heinken ashi smoothed for the chart to find the trend, I enter the trade when the candle crosses the HAS set my trade and let it run...wont check it for a week or two, then adjust stop, move stop monthly...

  5. #5
    mrchilled's Avatar
    mrchilled is offline Master Contributor and Member
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    What is your risk:reward? How do you know what your stop loss should be?

  6. #6
    spot4x is offline Newbie
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    you know its kinda like this, my good friend George told me to learn chart patterns, no matter how many indicators you use,(fewwer the better I think) you wont be a good trader unless you can "feel" the market. Learn to feel sentiment, for get indicators. So to answer your question I use heinken ashi smoothed chart and candles as my only indicator, when thos pull apart and start moving I place a stop at the low of the previous candle, then let it run

  7. #7
    spot4x is offline Newbie
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    Im adding a chart so you can get an idea of what I do, have a great day

  8. #8
    Visotakyju's Avatar
    Visotakyju is offline Newbie
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    Interesting. The problem of great TFs is the wider SL. This implies an account with more capital, or a very small position size, not to risk too much.

  9. #9
    jasminB's Avatar
    jasminB is offline Newbie
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    Good to have expert and professional traders like you in this forum. I got ideas and information.

  10. #10
    bnbb2004 is offline Newbie
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    Could pls post a pic of one of ur entries and exits? TIA!

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