Hi,
We have different school of thoughts regarding trading strategies. I am just a tiny trader in front of big named traders.
I am not saying that intra-day trader are failing, some of my friends are great intra-day trader and making hell lot of money. From news trader to technical trader day trader are making money no doubt about it.
What about position trading. Trading which is not intra-day, but, based on daily or weekly. What method, criteria, tools, and emotions should we use to accomplish positive pips while applying position trading? Where stop losses are more then 100 to 150 pips same as profit.
There are various methods available which we can use to implement our position trading strategy. Some are using VWB, Harmonic, PA, Wave count, EW, and so forth.
I will encourage people to think in long term instead of short term or daily basis. Try to calm your emotions and based on best and contain money management we can be wealthy every month after piling something in our accounts.
I need comments and ideas how my fellow traders think about position trading, and encourage posting their position trades here, however, I will post them mine but I will reveal my method after couple of months. This is going to be trading ideas based on long term prospective.