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Trading on Yearly Time Frame?

  • #1
  • First Post: Jan 26, 2010 7:02pm Jan 26, 2010 7:02pm
One of my millionaire trading friend has taken a long GBP/JPY call yesterday at 144.50 for a TP in 162-164 zone.

He has taken 5 standard lots.

He is also waiting for eur/usd to break 1.40-1.39 zone to take a short eur/usd call for TP of 1.25-1.26 zone.

Does anyone trade on yearly time frame?
  • #2
  • Jan 26, 2010 8:13pm Jan 26, 2010 8:13pm
I had a demo account trading high interest exotics that did really well for the last five months. Low leverage, and survived the huge spikes. I've entered a trade on my live account with the same idea.

It's good for people who have a life outside of forex and will be impressed by 50%+ annual returns.
  • #3
  • Jan 26, 2010 10:24pm Jan 26, 2010 10:24pm
Quoting kingfisher
One of my millionaire trading friend has taken a long GBP/JPY call yesterday at 144.50 for a TP in 162-164 zone.

He has taken 5 standard lots.

He is also waiting for eur/usd to break 1.40-1.39 zone to take a short eur/usd call for TP of 1.25-1.26 zone.

Does anyone trade on yearly time frame?

lol...
  • #4
  • Jan 27, 2010 1:51am Jan 27, 2010 1:51am
I'm just wondering how long you'll be waiting for a setup, i surely hope anyone attempting this doesn't wait for the close of a candle to enter
  • #5
  • Jan 27, 2010 2:19am Jan 27, 2010 2:19am
Quoting Kyle_Vee
I'm just wondering how long you'll be waiting for a setup, i surely hope anyone attempting this doesn't wait for the close of a candle to enter
if i used every commercial EA i would be a brazilianare by next week!!!!
  • #6
  • Jan 27, 2010 5:13am Jan 27, 2010 5:13am
LOL, I reckon i will need to wait for 3 years just for my set up to appear
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #7
  • Jan 27, 2010 6:12am Jan 27, 2010 6:12am
I watch the Yearly chart for trend. While you guys laugh, it's pretty effective in if you are a trend trader by allowing you to see the "big picture" and only trade in that direction.

Attached Image


For example, the start of 2010 shows a downwards trend. Looks to me the safe bet would be to Sell, in staying with the trend. Now I'm not a trend trader but by knowing this information, tells me that my sell orders may run longer than my buy orders ...

BTW, this is what professional Market Analysts do when issuing market bias.
  • #8
  • Jan 27, 2010 8:36am Jan 27, 2010 8:36am
i think he will soon deposit another million to cover
  • #9
  • Jan 27, 2010 8:53am Jan 27, 2010 8:53am
Quoting kingfisher
One of my millionaire trading friend has taken a long GBP/JPY call yesterday at 144.50 for a TP in 162-164 zone.

He has taken 5 standard lots.

He is also waiting for eur/usd to break 1.40-1.39 zone to take a short eur/usd call for TP of 1.25-1.26 zone.

Does anyone trade on yearly time frame?
Hi Kingfisher,

I don't trade the yearly time frame yet, but do trade on the monthly. Just give me some time and I'll soon be trading on the yearly!

I find it quite funny that so many people on this forum dismiss long term trading. I used to think that more money could be made by making more trades on the shorter time frame.

Nothing could be further from the truth.

If 95% of the traders on the forum are short term traders and 95% of traders lose money, then it begs the question, why do what the losers are doing?

Anyways, I am trading longer and longer time frames, there is a lot of money to be made by position trading.

Also I can see GBP having bottomed and I think the only way for it to go is up.
-Razorjack
  • #10
  • Jan 27, 2010 1:32pm Jan 27, 2010 1:32pm
Quote
Hi Kingfisher,

I don't trade the yearly time frame yet, but do trade on the monthly. Just give me some time and I'll soon be trading on the yearly! http://cdn.forexfactory.com/images/s.../yim/happy.gif

I find it quite funny that so many people on this forum dismiss long term trading. I used to think that more money could be made by making more trades on the shorter time frame.

Nothing could be further from the truth.

If 95% of the traders on the forum are short term traders and 95% of traders lose money, then it begs the question,...

Hi Razorjack,

Great reply from a wise trader. I have got inspiration and motivation from you (specially your long term silver trades) and working on monthly TF set ups.

I fully agree with you. Monthly TF trading cuts out all the noise and one can capture larger pips.

I do look at yearly trend, then monthly trend and then weekly trend and take position on monthly trend.
  • #11
  • Last Post: Jan 27, 2010 1:34pm Jan 27, 2010 1:34pm
Quote
I watch the Yearly chart for trend. While you guys laugh, it's pretty effective in if you are a trend trader by allowing you to see the "big picture" and only trade in that direction.

http://cdn.forexfactory.com/attachme...9&d=1264594320

For example, the start of 2010 shows a downwards trend. Looks to me the safe bet would be to Sell, in staying with the trend. Now I'm not a trend trader but by knowing this information, tells me that my sell orders may run longer than my buy orders ...

BTW, this is what professional...

I agree...extremely helpful reply back. I have moved from hourly, daily and weekly trading to monthly trading with yearly trend in mind and it is more profitable with less trades.
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