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set and forget trades

  • #1
  • First Post: May 26, 2011 10:20am May 26, 2011 10:20am
I have invested in lots of screen time, on smaller time frame charts (5 minutes), and when I am available to sit in front of my computer I do OK
(trading off pivot points, and support and resistance)

However my day job does not always allow me to have uninteruppted chart time, so I am thinking of exploring a more "set and forget stratagy"

Can people suggest some threads that offer "set and forget" trades.

I suppose trading off longer term charts is also an option, my work will certainly allow me to monitor 4 hour candles.
After being down on the 5 minute chart for a long time, it is hard to move to longer time frames.

Thoughts, suggestions are most welcome.

PGPB

PS. this having a day job is really annoying at times LOL
  • #2
  • May 26, 2011 10:39am May 26, 2011 10:39am
Quoting pgpb
I have invested in lots of screen time, on smaller time frame charts (5 minutes), and when I am available to sit in front of my computer I do OK
(trading off pivot points, and support and resistance)

However my day job does not always allow me to have uninteruppted chart time, so I am thinking of exploring a more "set and forget stratagy"

Can people suggest some threads that offer "set and forget" trades.

I suppose trading off longer term charts is also an option, my work will certainly allow me to monitor 4 hour candles.
After being down...
trade long-term
  • #3
  • May 26, 2011 10:47am May 26, 2011 10:47am
Quoting Custos
trade long-term
Thanks Custos, I decided, since your post was rather brief, to see what else you had to say and I surfed over to your post about high R:R versus High Win/Loss

I think your thread exposes where I need to take my thinking

With short time frame i am going for a high win versus loss, but with a longer time frame I may have to change to a high Risk versus reward

This is going to require a mental shift.

PGPB
  • #4
  • Last Post: May 26, 2011 12:12pm May 26, 2011 12:12pm
Quoting pgpb
Thanks Custos, I decided, since your post was rather brief, to see what else you had to say and I surfed over to your post about high R:R versus High Win/Loss

I think your thread exposes where I need to take my thinking

With short time frame i am going for a high win versus loss, but with a longer time frame I may have to change to a high Risk versus reward

This is going to require a mental shift.

PGPB
hi, sorry for the brief post. Let me explain myself. Since you anyways have a job, it is best to just trade the high time-frames, combine your technical analysis with a fundamental understanding. Then your analysis will hopefully be correct a lot of times. The fundamental understanding will make you hold on to your trades.
Having said that, you probably also can trade with a high win/loss ratio. I personally just think R:Rs are a bit more important.
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