Hi Folks!
Mr. Trend's recent thread regarding his change to longer time frame charts got me thinking, why don't we have a thread about longer-term trading? It seems like a lot of people are geared toward short-term, fast reward trading. Not that I'm knocking that, if it works for you, cool. It's just that there are those of us that would like to spend a little more time on it, less split-second decisions, longer term trades, higher returns per trade, etc...
I find it very relaxing to get away from worrying about what I'm going to scalp off a 5 minute chart when London opens, instead analyzing a longer-term trend and taking a trade that may be 40 pips in the red before it goes 300 in the black after a few days, or even weeks. My ability to have a life is enhanced by this kind of trading, and believe me, I need to get a life!
Anyway, anyone who has strategies, technical or fundamental, or tips/psychology on holding 'em through the tough times with wide stops and profits, let's get a thread going where we can hash it all out, nothing shorter than daily charts allowed...
Maybe 4hrs too, I'm still a bit of a gambler
Mr. Trend's recent thread regarding his change to longer time frame charts got me thinking, why don't we have a thread about longer-term trading? It seems like a lot of people are geared toward short-term, fast reward trading. Not that I'm knocking that, if it works for you, cool. It's just that there are those of us that would like to spend a little more time on it, less split-second decisions, longer term trades, higher returns per trade, etc...
I find it very relaxing to get away from worrying about what I'm going to scalp off a 5 minute chart when London opens, instead analyzing a longer-term trend and taking a trade that may be 40 pips in the red before it goes 300 in the black after a few days, or even weeks. My ability to have a life is enhanced by this kind of trading, and believe me, I need to get a life!
Anyway, anyone who has strategies, technical or fundamental, or tips/psychology on holding 'em through the tough times with wide stops and profits, let's get a thread going where we can hash it all out, nothing shorter than daily charts allowed...
Maybe 4hrs too, I'm still a bit of a gambler
"The time to act is when others show signs of tire." --W.D. Gann