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Trading weekly

  • #1
  • First Post: Aug 17, 2012 1:03pm Aug 17, 2012 1:03pm
Hi to everyone,

Is there anyone who is trading the weekly time frame that is successful,seems to me that all the systems on this forum are 1m scalpers to the daily.Take a look at the weekly and reading the price action as well as supply and demand looks more promising,personally I have come to the conclusion that I can not trade anything less than the daily to some degree of success (not mind blowing but doubled account in a yr).If there is anybody that trades off of the weekly please come forward and tell us your experiences.

Thanks in advance Tedge

I have attatced a trade I am kicking off with a short on Aususd ....reason down bar after no demand (doji)....any comments what so ever please contribute
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  • #2
  • Aug 18, 2012 3:40am Aug 18, 2012 3:40am
Quoting Tedge UK
Hi to everyone,

Is there anyone who is trading the weekly time frame that is successful,seems to me that all the systems on this forum are 1m scalpers to the daily.Take a look at the weekly and reading the price action as well as supply and demand looks more promising,personally I have come to the conclusion that I can not trade anything less than the daily to some degree of success (not mind blowing but doubled account in a yr).If there is anybody that trades off of the weekly please come forward and tell us your experiences.

Thanks in advance...
if you are trading such long time-frames you really have to consider to include fundamentals. It would just be complete nonesense to disregard fundamentals for weekly (or even daily) charts.
  • #3
  • Aug 18, 2012 9:01am Aug 18, 2012 9:01am
Quoting Custos
if you are trading such long time-frames you really have to consider to include fundamentals. It would just be complete nonesense to disregard fundamentals for weekly (or even daily) charts.
Oh!
  • #4
  • Aug 18, 2012 10:31am Aug 18, 2012 10:31am
Quoting Custos
if you are trading such long time-frames you really have to consider to include fundamentals. It would just be complete nonesense to disregard fundamentals for weekly (or even daily) charts.
I agree half way. You want to check oncoming news events regardless of the timeframe you trade.

On the other hand, it might be possible to trade solely on the chart, excluding everything else as a "noise." I got this idea from James16 group. I see they have a valid point about the fundamentals. I'm not saying they ignore all the news. They do check news, but they do not open/close positions because of the content of news. For them, news events can be just possible turning points -- the direction of price is already woven in the chart.

Interesting discussion, eh?
  • #5
  • Aug 18, 2012 10:33am Aug 18, 2012 10:33am
Huge SL needed.
Thoughts are things
  • #6
  • Aug 18, 2012 10:38am Aug 18, 2012 10:38am
you be waiting weeks (& weeks) for your setup
  • #7
  • Aug 18, 2012 11:33am Aug 18, 2012 11:33am
Quoting Sc11
you be waiting weeks (& weeks) for your setup
That is the point trading weekly. You make one-year earning with much less number of trades than daily, hourly, or lower timeframes. A very smart way to make profit, don't you think? (of course you need a bigger capital).
  • #8
  • Aug 18, 2012 9:14pm Aug 18, 2012 9:14pm
Quoting Tedge UK
Hi to everyone,

Is there anyone who is trading the weekly time frame that is successful,seems to me that all the systems on this forum are 1m scalpers to the daily.Take a look at the weekly and reading the price action as well as supply and demand looks more promising,personally I have come to the conclusion that I can not trade anything less than the daily to some degree of success (not mind blowing but doubled account in a yr).If there is anybody that trades off of the weekly please come forward and tell us your experiences.

Thanks in advance...
I dont trade the weekly chart, but I use it to draw my fibonacci level and for target point( i.e. Take-profit and stop-loss )
Alternatives are more important than the plan itself
  • #9
  • Aug 18, 2012 10:20pm Aug 18, 2012 10:20pm
Quoting Tedge UK
Is there anyone who is trading the weekly time frame that is successful,
//---

hey tedge..... yes......

even using the daily and weekly charts as overall direction guides, it still seems best for me to use the 30, 60 and 240 for more precise entrys....
you can keep the stoploss small with a very large profit target..... starting with the 30, if all goes well, move to the 60, then 240..... this has the effect of spreading out the later trades.....

pound away at first and slow down later...... as the number of trades in the clear increases, lower the lot size and move to the next higher timeframe..... avoid becoming top heavy on the trades.... otherwise when the inevitable retrace comes you'll lose money faster than you made it......h
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to trade and code, keep both simple... no call to impress....h
  • #10
  • Last Post: Aug 19, 2012 3:40am Aug 19, 2012 3:40am
I use the timeframes... 5m, 10m, 30m, 60m, 120m, 240m, 1d, 1w, 1m.

At the moment really only paying attention to the 30m to 120m for trade setups and lower for entries/exits.

Daily and weekly are useful for monitoring ranges and doing statistical odds calculations. Eg... If the EUR/USD is trying to move higher and can't make it anywhere with a current daily range under 50... Odds are the following downtrend will be big enough to bring the daily candle to minimum recent daily range.

Lots of useful little things to analyze in higher time-frames.
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