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Long Term Pips

  • #1
  • First Post: Jan 9, 2011 12:21pm Jan 9, 2011 12:21pm
I am going to start this journal with a positive perspective and I intend to keep it that way. I will be sharing my trades when they happen and if anyone has any questions along way, feel free to ask. I could talk forex all day. This strategy makes perfect sense to me and I have been doing it for a long time. I trade pullbacks on the weekly chart using the daily to get in. I will check the charts everyday around 6pm and then enter when it goes my way usually in the main session. I am in a lot of trades for days, weeks, months. That being said, it may take that long to get an entry from the start of this journal. But after several months, I will usually be in a lot of trades. I do not want to say how many pips I average because apparently this offends people but there are plenty of pips to be had. I guess that is it for now, I am sure I forgot something but I can add it later.
  • #2
  • Jan 9, 2011 12:24pm Jan 9, 2011 12:24pm
looking forward to seeing how you trade Brenzaj, i'll be watching

will you be posting live, not for the purpose of trade signals, but for educational purposes?
  • #3
  • Jan 9, 2011 12:54pm Jan 9, 2011 12:54pm
brenzaj42 will you be walking through a few past trades on exactly what you look for with your entry and how you determine it's time to exit?

thx,
todd
  • #4
  • Jan 9, 2011 12:54pm Jan 9, 2011 12:54pm
I will be posting trades as I take them. Hopefully nobody follows me blindly but rather learns how I do it. I use 2 ema's, 5 and 12 for direction and that is it. I try to keep it as simple as possible. . Also, I will use parallel and inverse analysis to confirm long term direction. I realize this sounds incredibly boring as some other people have all these rules and indicators but I like it plain. It works for me.




Quoting Jungles
looking forward to seeing how you trade Brenzaj, i'll be watching

will you be posting live, not for the purpose of trade signals, but for educational purposes?
  • #5
  • Jan 9, 2011 12:55pm Jan 9, 2011 12:55pm
Subscribed!

Looking forward to your views and trade analysis.
Are you trading more off technicals or fundamentals? I too tend to trade longer term and as you say, it's surprising how much can be earned from having several long term positions open. Good luck!

Edit: Just posted this as you posted the above.
  • #6
  • Jan 9, 2011 12:59pm Jan 9, 2011 12:59pm
Just reading the charts. I always like to hear how many pips can be earned trading long term, a lot of people seem to think that can't be done but yes, I trade technicals.




Quoting fosking
Subscribed!

Looking forward to your views and trade analysis.
Are you trading more off technicals or fundamentals? I too tend to trade longer term and as you say, it's surprising how much can be earned from having several long term positions open. Good luck!

Edit: Just posted this as you posted the above.
  • #7
  • Jan 9, 2011 1:07pm Jan 9, 2011 1:07pm
Ill be back in a couple hours and I can put a few up. I am sure I can do it as I go along as well.



Quoting todd960960
brenzaj42 will you be walking through a few past trades on exactly what you look for with your entry and how you determine it's time to exit?

thx,
todd
  • #8
  • Jan 9, 2011 1:12pm Jan 9, 2011 1:12pm
Subscribed ! It is a great news that you have decided to share your knowledge and experience with us ! Looking forward for the first trades !
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #9
  • Jan 9, 2011 3:25pm Jan 9, 2011 3:25pm
As requested, an example. The first one is a weekly chart and the 2nd one is a daily chart with entries and exits. Pretty simple. As far as tonight's analysis goes, there is nothing that looks good to me so no new entries till tomorrow.
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  • #10
  • Edited 4:05pm Jan 9, 2011 3:47pm | Edited 4:05pm
i Brenzaj, this question was asked on another thread, but still am not clear

if all you care about is the ma cross, then is there any need to see the price bars?

ie., could you trade without them, or do you need to see them

i guess i'm trying to establish whether price bars have any bearing on your decision making, or if you completely ignore them

thanks for the response
  • #11
  • Jan 9, 2011 4:02pm Jan 9, 2011 4:02pm
Quoting brenzaj42
As requested, an example. The first one is a weekly chart and the 2nd one is a daily chart with entries and exits. Pretty simple. As far as tonight's analysis goes, there is nothing that looks good to me so no new entries till tomorrow.
Hi
brenzaj42


thanks for sharing ..and starting your journal..
But can you explain How the weekly indicates a TRIGGER on the DAILY..
Does the WEEKLY cross of MAs also have taken place ??...before taking a trade on the Daily..
Its this aspect of your trading i wish to grasp..

thanks and all the best..

take care

baz
  • #12
  • Jan 9, 2011 5:36pm Jan 9, 2011 5:36pm
I suppose I could trade without them but I keep them on. I like to see the price action plus I still have to wait for them to go in my direction.




Quoting Jungles
i Brenzaj, this question was asked on another thread, but still am not clear

if all you care about is the ma cross, then is there any need to see the price bars?

ie., could you trade without them, or do you need to see them

i guess i'm trying to establish whether price bars have any bearing on your decision making, or if you completely ignore them

thanks for the response
  • #13
  • Jan 9, 2011 5:38pm Jan 9, 2011 5:38pm
If the weekly is in a downtrend, I will trade a fresh cross back in the direction of the weekly on the daily chart. I trade fresh crosses with good angle and separation.



Quoting baz
Hi
brenzaj42


thanks for sharing ..and starting your journal..
But can you explain How the weekly indicates a TRIGGER on the DAILY..
Does the WEEKLY cross of MAs also have taken place ??...before taking a trade on the Daily..
Its this aspect of your trading i wish to grasp..

thanks and all the best..

take care

baz
  • #14
  • Jan 9, 2011 5:47pm Jan 9, 2011 5:47pm
sounds very straight forward Brenzaj:

 

  1. trade only in the direction of the weekly trend (daily in my case)
  2. enter/exit on steep cross, with good separation of ma's on daily (4hr in my case)
  3. set SL@100
  4. inverse and parallel analysis adds weight/confidence, but isnt essential
  5. collect weekly +1000pips


i will test, thanks for sharing, i like your style

*just kidding re 5.

  • #15
  • Jan 9, 2011 11:35pm Jan 9, 2011 11:35pm
Quoting brenzaj42
If the weekly is in a downtrend, I will trade a fresh cross back in the direction of the weekly on the daily chart. I trade fresh crosses with good angle and separation.

hi brenzaj42

thanks for this..BUT How do you determine the WEEKLY TREND..ie for a DownTrend ..is it LH and LL...and does the MAs on WEEKLY have also CROSSED DOWN as WELL..

thanks

baz
  • #16
  • Jan 10, 2011 12:12am Jan 10, 2011 12:12am
Hi brenzaj42

what are your thoughts on EURO....on my charts i see a FRESH cross DOWN on Thursday...Do you wait for a PULLBACK ??
thanks

baz
  • #17
  • Jan 10, 2011 12:30am Jan 10, 2011 12:30am
I have been studying parallel and inverse analysis along with multiple time frame analysis but i haven't had a defined method in using these great tools; Therefore i haven't been successful at applying them. I am hoping to be able to learn from you.

Thanks for your willingness to share your methods with others.

Greatly appreciated.
  • #18
  • Jan 10, 2011 3:10am Jan 10, 2011 3:10am
Generally speaking, you can tell just by looking at it. It is anything making higher highs and higher lows for uptrend and opposite for downtrend. That being said, I like to see good angle and separation with the ema's on the weekly chart.




Quoting baz
hi brenzaj42

thanks for this..BUT How do you determine the WEEKLY TREND..ie for a DownTrend ..is it LH and LL...and does the MAs on WEEKLY have also CROSSED DOWN as WELL..

thanks

baz
  • #19
  • Jan 10, 2011 3:12am Jan 10, 2011 3:12am
Euro what?, and on what timeframe? Sorry, not sure what you are referring to.



Quoting baz
Hi brenzaj42

what are your thoughts on EURO....on my charts i see a FRESH cross DOWN on Thursday...Do you wait for a PULLBACK ??
thanks

baz
  • #20
  • Jan 10, 2011 3:26am Jan 10, 2011 3:26am
Quoting brenzaj42
Euro what?, and on what timeframe? Sorry, not sure what you are referring to.
hi brenzaj42

on the DAILY EURO/ USD ... you had a FRESH cross last thursday... the WEEKLY is in a DOWN TREND as well..
have i got that correct ??

baz
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