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Long term position trading

  • #21
  • Jul 1, 2015 3:07am Jul 1, 2015 3:07am
Quoting ephisi
{quote} After reflecting i concluded i shouldnt have closed my nzd trades. Closing losing trades early was not my original plan. I wont close the next loosers until my system says so. still finetunning.
Lol, now i dont regret closin nzd trades. Will cut my losses and let profits run henceforth. All trades green. Looking sexy.
  • #22
  • Jul 1, 2015 3:26am Jul 1, 2015 3:26am
Quoting ephisi
{quote} Hey vlad, nice seeing you here. In the background for now , stressed from much forum activity.
I suggest that you actually use your own threads as real diaries. Put your trades on there as well as your thoughts. The trade explorer will speak for itself, but it's more important for you to utilise a free tool as a diary. You'll be surprised at what insights you'll get about yourself.

BTW, for what it's worth, I don't regard Win/Loss Ratio as an important factor. Consistency of profitability is the main one. I can lose 8 times and win 2 but have 90% of my monthly returns on the 2 / 8 trades. That kind of stat comes from pro institutional traders.

Once you get the consistency, THEN you can work on the win/loss ratio which is really removal of triggers that lead to mistakes: personal, technical, financial, contextual, etc. But first you must make sure that your Edge or Edges actually does make money consistently if applied over the long run.
A pip is only worth it if you know how much you risked to earn it
  • #23
  • Jul 1, 2015 3:30am Jul 1, 2015 3:30am
Quoting vlady1974
{quote} I suggest that you actually use your own threads as real diaries. Put your trades on there as well as your thoughts. The trade explorer will speak for itself, but it's more important for you to utilise a free tool as a diary. You'll be surprised at what insights you'll get about yourself. BTW, for what it's worth, I don't regard Win/Loss Ratio as an important factor. Consistency of profitability is the main one. I can lose 8 times and win 2 but have 90% of my monthly returns on the 2 / 8 trades. That kind of stat comes from pro institutional...
Thanks vlad for the suggestions. They are very helpful
  • #24
  • Jul 1, 2015 3:38am Jul 1, 2015 3:38am
The last trade taken is usdjpy long at 122.4x . Looking forward to other setups for the month of july. I really hope grexit occurs to favour my eur shorts
  • #25
  • Jul 1, 2015 4:07am Jul 1, 2015 4:07am
Real refreshing to see this thread I am a medium to long term trader, but not quite so long term as you and I too only spend limited time at the screen.

Good luck my friend I will follow this thread with great interest and thinking of opening my own Journal.

Happy trading
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #26
  • Jul 1, 2015 4:48am Jul 1, 2015 4:48am
Quoting Seabreeze
Real refreshing to see this thread I am a medium to long term trader, but not quite so long term as you and I too only spend limited time at the screen. Good luck my friend I will follow this thread with great interest and thinking of opening my own Journal. Happy trading
Thats great seebreeze thanks for the encoursgement. glad i could inspire you.
  • #27
  • Jul 3, 2015 1:27am Jul 3, 2015 1:27am
Added GBPUSD LONGS OVER NIGHT. LOOKS GOOD, IF gbp data is good then gbp should rally
  • #28
  • Jul 6, 2015 2:10pm Jul 6, 2015 2:10pm
Quoting ephisi
Added GBPUSD LONGS OVER NIGHT. LOOKS GOOD, IF gbp data is good then gbp should rally
Hey vlad. Concerning my GU trade. I decided to exit and reenter when I get my signal. I kind of entered too early. But it has come back up. Waiting for my perfect entry trigger. Trying to follow my system as planned
  • #29
  • Jul 7, 2015 3:03am Jul 7, 2015 3:03am
I am really suprised how one can make money in the market just by getting some good trades and letting them run. This strategy is a result of the quote of a famous trader. Jesse livermore.

"MONEY IS MADE BY SITTING, NOT TRADING"
  • #30
  • Jul 7, 2015 3:09am Jul 7, 2015 3:09am
Quoting ephisi
I am really suprised how one can make money in the market just by getting some good trades and letting them run. This strategy is a result of the quote of a famous trader. Jesse livermore. "MONEY IS MADE BY SITTING, NOT TRADING"

Which is why higher timeframes are more powerful....time allows a trade to run.
A pip is only worth it if you know how much you risked to earn it
  • #31
  • Jul 7, 2015 3:18am Jul 7, 2015 3:18am
Quoting vlady1974
{quote} Which is why higher timeframes are more powerful....time allows a trade to run.
its awesome mate. With good low risk trades and position sisez. Im using my 2 explores to see which grows faster. Trying to prove to my self if longterm trading is more profitable than daytrading in the long run. We will see
  • #32
  • Jul 8, 2015 3:05pm Jul 8, 2015 3:05pm
Closed most of my trades, leaving cadjpy and eurjpy which look like fresh trends.
  • #33
  • Jul 8, 2015 3:17pm Jul 8, 2015 3:17pm
Hey Mate,

Very interesting Thread, and I will keep my eyes open.....EU and EJ short Trades were right on point....

4 weeks ago, I had a SellSignal on EJ at around 140.500, and my ideal stop-loss was supposed to be -100pips+
I ignored that Trade, and now look at where this damn thing is trading right now...So Unbelievable! Ha-Ha!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #34
  • Jul 9, 2015 12:31am Jul 9, 2015 12:31am
Quoting OctaveJay509
Hey Mate, Very interesting Thread, and I will keep my eyes open.....EU and EJ short Trades were right on point.... 4 weeks ago, I had a SellSignal on EJ at around 140.500, and my ideal stop-loss was supposed to be -100pips+ I ignored that Trade, and now look at where this damn thing is trading right now...So Unbelievable! Ha-Ha!
Yes Jay, lol. So unbelievable. One needs to have faith in those setups to hold and ride them out. Trends are rare, but when they occur and you catch them pips abound
  • #35
  • Jul 9, 2015 8:15am Jul 9, 2015 8:15am
Quoting OctaveJay509
Hey Mate, Very interesting Thread, and I will keep my eyes open.....EU and EJ short Trades were right on point.... 4 weeks ago, I had a SellSignal on EJ at around 140.500, and my ideal stop-loss was supposed to be -100pips+ I ignored that Trade, and now look at where this damn thing is trading right now...So Unbelievable! Ha-Ha!
Finally getting some screen time and some space at work to do "proper" work. Just looking at your EJ set up mate.... it looks like a great one on the Daily, looking like a 3:1 R. Don't worry about not picking the "top", at least the confirmation at Long Term could be quite profitable. That would be a simple Sell on any pullback or break of support.

Edit: of course the Risk above is just illustrative. The actual trade risk would be the SL... again, reducing risk but the reward target makes that RR even more blindingly attractive.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY-1D.JPG Size: 200 KB
A pip is only worth it if you know how much you risked to earn it
  • #36
  • Jul 13, 2015 9:54am Jul 13, 2015 9:54am
Quoting vlady1974
{quote} Finally getting some screen time and some space at work to do "proper" work. Just looking at your EJ set up mate.... it looks like a great one on the Daily, looking like a 3:1 R. Don't worry about not picking the "top", at least the confirmation at Long Term could be quite profitable. That would be a simple Sell on any pullback or break of support. Edit: of course the Risk above is just illustrative. The actual trade risk would be the SL... again, reducing risk but the reward target makes that RR even more blindingly attractive. {image}
Hey Mate,

I was waiting for a Bullish Pullback to go Short, and I think that this morning sounds like the perfect SellEntry.....It won't be too hard to get a Retest at 133.300ish this week, and if that Support Level doesn't hold, we might see more Bearish movement to the Downside... Let's wait and see if EJ could help us CRASH the Party at 122.00 in the next 2-3 weeks or so....

Nicely done for spotting that 3:1 risk:reward.
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #37
  • Jul 13, 2015 10:07am Jul 13, 2015 10:07am
Quoting ephisi
{quote} Yes Jay, lol. So unbelievable. One needs to have faith in those setups to hold and ride them out. Trends are rare, but when they occur and you catch them pips abound
It looks like I might have to start thinking about doing some Position Trading here and there, and hopefully I can have a good reason to test my faith....I am really not a big faith person....It's a great feeling to spot the Beginning of a TREND and ride it all the way....

Keep it up mate!
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #38
  • Jul 13, 2015 10:24am Jul 13, 2015 10:24am
Quoting OctaveJay509
{quote} It looks like I might have to start thinking about doing some Position Trading here and there, and hopefully I can have a good reason to test my faith....I am really not a big faith person....It's a great feeling to spot the Beginning of a TREND and ride it all the way.... Keep it up mate!
Yes mate, really great. But if you read the introduction of my new thread you would see that I have merged all my trading theories into one. I no longer need to position trade. I can dance with the market In and out and make more pips that way. The problem with position trades is the question of when do you close the Trades? I would hate to see a 800.0 pip move Come back to + 50. That would be a waste of time. If I hadn't closed these trades my profits would have been very little. So change of mindset for me. When my swing set ups align with my longterm setup I know I'm expecting 500 to 1000pips. Which I will close when I see oversold or overbought. I can always enter at better prices.
  • #39
  • Jul 13, 2015 11:45am Jul 13, 2015 11:45am
Quoting ephisi
{quote} Yes mate, really great. But if you read the introduction of my new thread you would see that I have merged all my trading theories into one. I no longer need to position trade. I can dance with the market In and out and make more pips that way. The problem with position trades is the question of when do you close the Trades? I would hate to see a 800.0 pip move Come back to + 50. That would be a waste of time. If I hadn't closed these trades my profits would have been very little. So change of mindset for me. When my swing set ups align...
You are absolutely right mate, and it reminds me of my own quote "have an investor mindset, but trade like an entrepreneur "...From a long term perspective, if you know that the market is going to move up or down for about 500+pips, you can add as much positions, and trail your stop until the trend reverses. This might be a great opportunity to achieve massive profits, but the Fundamentals have to be on your side to say the least.....

I tend to use Fibonacci to identify hidden levels, and most likely I will use 78.6%, 88.6%, 127% or 161.8% as Targets....
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR
  • #40
  • Jun 7, 2018 1:51am Jun 7, 2018 1:51am
I finally cracked it. Follow me here

https://www.forexfactory.com/showthread.php?t=774793
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