Long Term Trending

[naz9403]

After all these years and all the contacts i've made on this forum i have seen people forecast signals, trends, and any other name for fortune telling you can think of.

The only way to make money year after year is to trade long term on the daily or weekly chart period. Forex is a 24 hour market with millions of artificial fluctuations that are impossible to profit from consistantley.

This is my opinion and after years of study i know it is correct.

Point to this ramble?

Trading is 80% emotional i believe and being able to take your position sit tight and let the move carry on without getting in and out to quickly is the hardest part of trading.

How many of you can handle 1-2 trades (as in trend directions) per year?
How can you profit from such little movement?

Think hard and you will figure it out.
less is more


That is all, carry on.

[simon5]

couldnt agree more with you, technical analisis, in short volatile time frames, didnt work for me.

[sunabeach]

Couldn't agree more except:

"This is my opinion and after years of study i know it is correct."

Nothing is absolute.

For most traders and most situations, long term is more appropriate. I've have been trading for 11 years and it is only in the last 5 that I have been consistently profitable, both equally short and long term trading.

[naz9403]

True, like everytrader nothing is concrete as we learn after each trade. I was just trying to get across what i've learned. And i would have to say that a 4hr chart is something doable as well if your willing to sleep 4hrs at a time prob not the best move if your not yet able to trade full time and have to go to work.

I"ll be posting some of my thoughts on what i think the eur usd, usd jpy, and eur jpy might do on a 4hr-weekly basis.

Some charts later

[naz9403]

i take back my claim above, i saw a trade history of an individual who trades over 50 100k lots on the 1 minute chart from 6am est to 12pm, closes most trades by 5pm. Also uses no indicators. Most trades net him 15-40 pips, largest was 105. Max loss was 30 pips.

"If you look very close you will see most days, intraday will show you a pattern just like that of a quote long term chart pattern. Those long term patterns take years to develop but intraday during the high volume trading times those patterns show up hundreds of times through the year, but if your not alert, quick, and do not cut your loses quickly you will burn."

Obviously i can't post his trades, but i have been proven wrong. Can't argue with a trader who makes almost 200k a month day trading forex.

[ampris2000]

daytrading used to escape me, but i'm able to do it quite easy now.

if you want to play daytrading safe, look for macd divergences.

[Whathell]

wow... respect

does he use trendlines?? no moving averages?