Hi again George. In the past, I have used the pending orders to put a trade on or add another lot to an existing trade at a pre-determined point while I was away from my computer. That works well and I've made some pips with it. Position trading is ...

Multi-Lot Multi-Timeframe Position trading

Hi George. I spend about 2 hours a day, mostly scanning for new entries before and after the NY session. I have tried to use pending orders, but they didn't work for me. If they work for you, go for it! Thanks for the questions.

Multi-Lot Multi-Timeframe Position trading

No comments or discussion? Is it that simple or that confusing?

Multi-Lot Multi-Timeframe Position trading

Reduced 1st entry stop loss settings to around 12 pips today just because I didn't want to take much loss today. It was a good decision allowing me to get in some trades cheaply.

Multi-Lot Multi-Timeframe Position trading

NJ top two lots stopped out for +30. The first lot survived and a new 2nd lot placed on with stops to yield +30 if all stops out. I'm happy to continue to trade this range for a profit until it breaks out, and hopefully when it does break out it ...

Multi-Lot Multi-Timeframe Position trading

Jackub, now that's a pretty chart. That would be a great plan if the market would approve of it. Unfortunately, the market can do anything at any time and I'm not sure if it will go that way. If it does go up that +350, with adding a lot every 100 ...

Multi-Lot Multi-Timeframe Position trading

Just a pretty chart I'm watching.

Multi-Lot Multi-Timeframe Position trading

I appreciate the feedback Barbossa. I understand the psychological advantages of being on "both sides of the market" and I can't debate those. From a financial standpoint though, I see no difference between simply exiting a trade when there is a ...

Multi-Lot Multi-Timeframe Position trading

I now have the 3-lot NJ long, a 2-lot ChfJpy long, and 3 1-lot long trades running on EJ, EU and ECad. All is running well and fine. I'll now scan for possible new entries.

Multi-Lot Multi-Timeframe Position trading

Well, I didn't stop out of my 3-lot NJ long trade, so I moved the stop down a little on the 1st lot as discussed with Lizpet above. That trade now looks like the below. Note that the ONLY time I will ever move a stop against the direction of my ...

Multi-Lot Multi-Timeframe Position trading

Hi Dmostpips. Glad to have your comments. I think this thread is passed on by many traders because it is a get rich slowly thread. Probably 95% of traders would participate in a thread titled "Get rich quick", but I don't know how to do that. I'm ...

Multi-Lot Multi-Timeframe Position trading

Hi Lizpet. Thanks for the good questions. As to exiting winners, you generally have it right. Once I have three or more lots on a trade, I should never allow that trade to take a loss, so I will need to exit as many lots as needed to make sure I am ...

Multi-Lot Multi-Timeframe Position trading

Was hoping for some interactive discussion here of the three main precepts of this method, multi-lot, multi-timeframe and long term position trading. Seeing no interest in the subjects, I'll retire to the background and check back in later. Happy ...

Multi-Lot Multi-Timeframe Position trading

What if we didn't like crossovers. Say the RSI was a personal favorite. We count the timeframes where the RSI is above the 50% line. Again we come out with a count of 8 of 9 timeframes with the rsi pointing up, this time with the 30M TF being the ...

Multi-Lot Multi-Timeframe Position trading

We can see the H4 is crossed above, the H1 has crossed below, and the M30 has crossed above. I'll spare you the M15, M5 and M1 though you are welcome to go look at them yourself since they wont change for a couple days of no weekend trading. The ...

Multi-Lot Multi-Timeframe Position trading

Note that the 3 ema has crossed above the 10 sma on all three of the longer timeframes. That's 3 of 3. You can already see this trade is looking good for long term trading with just that simple count. Now, rapid fire, the three mid-term time frames, ...

Multi-Lot Multi-Timeframe Position trading

A hell of a trend on that monthly. The 3 ema crossed over the 10 sma and stayed there for 2 years for a profit of 3,000 pips. Hardly anyone would have rode out that big correction from May to July of 2013, but if they did, the pips were there to be ...

Multi-Lot Multi-Timeframe Position trading

I'll look at NJ since I have a good trade running there. First a ma crossover, a staple in the trend traders bag of tricks. I'll use a fast crossover. Since I'll be looking at multiple timeframes, there is no need to have a slow one. A 3ema X 10sma ...

Multi-Lot Multi-Timeframe Position trading

I think I've described the multi-lot part of my method fairly well here. It's a simple but efficient pyramiding system. The important part isn't the exact point where I put trades on and exit, but rather that there is a system that puts you into ...

Multi-Lot Multi-Timeframe Position trading

Since I see no questions or comments, I'll ramble on a bit while waiting for the market to work it's magic. In my own humble opinion, to be good at something, you have to be obsessed with it. Trend trading is no different than being a musician or ...

Multi-Lot Multi-Timeframe Position trading