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Long Term Pips

  • #141
  • Jan 13, 2011 6:59pm Jan 13, 2011 6:59pm
Hi Brenzaj,

this is demo only, does this meet your criteria?

buy @ 63.68 (pink vertical), SL -60 (this is a 240min chart trade; the top 2 charts are 240min)

thanks
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  • #142
  • Jan 13, 2011 7:37pm Jan 13, 2011 7:37pm
Well, I use weekly for trend with good angle and separation. There really is none for this pair. You can always apply this to smaller timeframes. For the long term strategy, I stick to weekly and daily but otherwise sure.



Quoting Jungles
Hi Brenzaj,

this is demo only, does this meet your criteria?

buy @ 63.68 (pink vertical), SL -60 (this is a 240min chart trade; the top 2 charts are 240min)

thanks
  • #143
  • Jan 13, 2011 7:57pm Jan 13, 2011 7:57pm
ok, none for day/weekly,
but i guess i'm interested as to whether 240/day is fulfilling the criteria

would you rather i not include 240/day on this journal?
no worries if so, i dont want to divert the thread


Quoting brenzaj42
Well, I use weekly for trend with good angle and separation. There really is none for this pair. You can always apply this to smaller timeframes. For the long term strategy, I stick to weekly and daily but otherwise sure.
  • #144
  • Jan 14, 2011 2:59am Jan 14, 2011 2:59am
Hey Brenzaj, Hehe... you see, you are becoming our FX Guru :-P

I'm coming back to this one, since I would really like to get it right, would you explain us a little bit more in detail the technical side of your CADJPY entry ? I got a bit lost about which high should be broken and when :-)

Thanks a lot !!!


Quoting trzcinek
Do you mean that you take the high made during the main session and then after the main session you enter when this high is broken ?

I'm not sure if I understand... :-/
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #145
  • Jan 14, 2011 5:58am Jan 14, 2011 5:58am
I let it make a high between 630-7am est and 9am est, then only take it when it breaks that. I jumped in the CAD/JPY at like 830 or something like that. If I would have followed my rule for entry I would have never entered.


Quoting trzcinek
Hey Brenzaj, Hehe... you see, you are becoming our FX Guru :-P

I'm coming back to this one, since I would really like to get it right, would you explain us a little bit more in detail the technical side of your CADJPY entry ? I got a bit lost about which high should be broken and when :-)

Thanks a lot !!!
  • #146
  • Jan 15, 2011 6:17am Jan 15, 2011 6:17am
I got it know. Thanks. It does make a lot of sens for me. I will give it a try next week ! Take care !

Quoting brenzaj42
I let it make a high between 630-7am est and 9am est, then only take it when it breaks that. I jumped in the CAD/JPY at like 830 or something like that. If I would have followed my rule for entry I would have never entered.
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #147
  • Jan 15, 2011 11:09pm Jan 15, 2011 11:09pm
Hi brenzaj42,

I want to ask your opinion about finding entry in Europe session. It's a more convenient trading session for me and as we know many currencies usually have great movements after the Frankfurt/London open. Do you think there'll be a similar success rate by entering in the Europe session instead of the Main session with your method? Thanks.
  • #148
  • Edited 4:00am Jan 17, 2011 3:17am | Edited 4:00am
Quoting fthingf
Hi brenzaj42,

I want to ask your opinion about finding entry in Europe session. It's a more convenient trading session for me and as we know many currencies usually have great movements after the Frankfurt/London open. Do you think there'll be a similar success rate by entering in the Europe session instead of the Main session with your method? Thanks.
Hi ya Fthingf..

I don't think it really matters as much on the higher time frames, Daily onwards as I think Brenzaj42 is talking about mainly in this thread....although alot of people do like to trade off the Daily close US which is I think is 5pm there time....
however if you intended on trading lower Time Frames such as 1 hour or less with this method it would be better to trade during the more active/liquid sessions of 7am - 4pm UK time, which I think is 8am -5pm in Europe..so european times are one of the best to trade for this Time Frame..

Cheers,
Adrian
  • #149
  • Jan 17, 2011 4:24am Jan 17, 2011 4:24am
moving very slowly, inch by inch, but in the desired direction at least

Quoting Jungles
buy @ 63.68 (pink vertical), SL -60 (this is a 240min chart trade; the top 2 charts are 240min)
  • #150
  • Jan 17, 2011 5:59am Jan 17, 2011 5:59am
I will enter in the Europe session only if there is a tight consolidation before it opens. I usually will eyeball it on the 15min chart.



Quoting fthingf
Hi brenzaj42,

I want to ask your opinion about finding entry in Europe session. It's a more convenient trading session for me and as we know many currencies usually have great movements after the Frankfurt/London open. Do you think there'll be a similar success rate by entering in the Europe session instead of the Main session with your method? Thanks.
  • #151
  • Jan 17, 2011 3:38pm Jan 17, 2011 3:38pm
Brenzaj, do you sometimes go weeks without set-ups?
Or do you usually find at least one each week?
  • #152
  • Jan 17, 2011 5:19pm Jan 17, 2011 5:19pm
Are we close to any trade? It seems we will need to wait new nuclear war to move things to some side? What about usd/nzd to jump long on daily? I see some resistance close on 0.7800.
  • #153
  • Jan 17, 2011 5:55pm Jan 17, 2011 5:55pm
Hey "long term pippers",

GU looks like a good candidate, although not a "fresh cross" on D1, good angle and separation, confirming uptrend on W1, if it breaks through 1.5900 tomorrow during the main session, it is likely to hit 1.6300, then possibly 1.6700 (based on oscillating uptrend)...is this a legitimate "brenzaj42" trade setup?

Another arrow in my quiver,
Jon

PS. I just remembered that I failed to conduct any "parallel and inverse" analysis, that may change the picture.
  • #154
  • Jan 18, 2011 6:53am Jan 18, 2011 6:53am
Wahooooo! GU making its move, much room for it to roam. "P&I" suggests its fully committed to the upside...for now.
  • #155
  • Jan 18, 2011 7:27am Jan 18, 2011 7:27am
I said in the beginning that you will be in trades for a long time, that being said, you can wait for a long time to enter as well. There are other ways to trade if you don't have any patience. If your goal is to make pips with minimal effort, my system works for me but if your goal is to make trades, this will not work for you.



Quoting BatmanXXL
Are we close to any trade? It seems we will need to wait new nuclear war to move things to some side? What about usd/nzd to jump long on daily? I see some resistance close on 0.7800.
  • #156
  • Jan 18, 2011 7:29am Jan 18, 2011 7:29am
GBP/USD just crossed on the weekly, I will wait for a pullback on the daily and see what it looks like. None of the GBP exotics have crossed on weekly yet although they all appear that they will next week. Again, then wait for pullback on daily. It appears that things are changing in the new year as least for now.



Quoting jmf0805
Hey "long term pippers",

GU looks like a good candidate, although not a "fresh cross" on D1, good angle and separation, confirming uptrend on W1, if it breaks through 1.5900 tomorrow during the main session, it is likely to hit 1.6300, then possibly 1.6700 (based on oscillating uptrend)...is this a legitimate "brenzaj42" trade setup?

Another arrow in my quiver,
Jon

PS. I just remembered that I failed to conduct any "parallel and inverse" analysis, that may change the picture.
  • #157
  • Jan 18, 2011 7:30am Jan 18, 2011 7:30am
NZD/USD is flat on weekly


Quoting BatmanXXL
Are we close to any trade? It seems we will need to wait new nuclear war to move things to some side? What about usd/nzd to jump long on daily? I see some resistance close on 0.7800.
  • #158
  • Jan 18, 2011 7:32am Jan 18, 2011 7:32am
It can be awhile in between entries although I have entered probably 10 at the same time as well. Once you are in some trades, you do not feel the rush to get in more. After a month/2 months, you can see how the pips start stacking up.




Quoting Jungles
Brenzaj, do you sometimes go weeks without set-ups?
Or do you usually find at least one each week?
  • #159
  • Jan 18, 2011 8:00am Jan 18, 2011 8:00am
brenzaj42

I have sscribed tio this thread as my trading intentions are similar to yours. My Thread is Trading For Those With A 9-5 in the trading journal folder on FF. However this year I have not been in any long term trade. Some that could have developed into one I chickened out too early. I will be following your thread...

Olu
If you think you can or cannot do it you are correct
  • #160
  • Jan 18, 2011 9:05am Jan 18, 2011 9:05am
Congrats Brenzaj on getting to post 159 with virtually no negativity!

Has anyone mentioned the USDJPY? It appears to be a fresh cross down forming on the daily (although perhaps the weekly is too flat?).
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