DislikedHey Blaz- I trade only weekly setups, and have been extremely successful recently. I started trading only Daily and Weekly charts following James16's advice, but found that my trades on the weekly time frame were more consistently positive.
The patience thing is subjective. I actually find it takes more patience to trade daily and lower TFs because you tend to look at the charts all the time and I find that gives me an itchy trigger finger.
With the weekly charts I set up entries and just let them run, checking my charts 1-2 times a day for...Ignored
I am glad the trades are going well for you. I work full time, therefore, I need to be trading daily or weekly charts. I have a feeling weekly might suit me better, and stop me keep looking at trades all the time.
Can I ask please?
1. How do you get on with big stop losses? Do you still set then beyond the high or low of the pinbar? Could be quite a hefty figure.
2. How long once you are in a trade do you normally stay in it, on average?
3. What do you do with targets - do you have fixed targets, aim for previous highs/lows etc?
Regards
Glynn
"Fail to prepare, prepare to fail."