Advanced strategy #10(Trend Line Trading Strategy) - ENJOY !

[chintopinto]

Hi guys,

I am looking at AUD/CHF on 4 hour chart...it seems like a nice trde setup.
0.93000 may be a good place to place a buy stop order and a target at 0.95500 and stop as always....below the TL.

Trade safe,
Regards.

Chinto, may I ask why did you set the TP to 0.95500? It is higher than the last swing high.
I drew the upper trendline, and - if the price obeys it - it may turn back at around 0,947.

Hi Almandine, thank you for correcting me.

I am sorry,
You are right, Profit target should be set lower than 0.947 within the previus swing high.
Sorry about that.

Best regards

[chintopinto]

Well price has breached the 4h trendline .o usdcad.

Hi Sorento,

Yes, the USD/CAD 4 hour TL has been broken.... as you can see , the main Daily trend is more to the down side.

Take a look at AUD/JPY...it price bounce back up from the TL....it would be a good setup.

Best regards.

[Almandine]

Hi Almandine, thank you for correcting me.

I am sorry,
You are right, Profit target should be set lower than 0.947 within the previus swing high.
Sorry about that.

Best regards

No problem, thank you for the clarification.

[chintopinto]

Hi Almandine, thank you for correcting me.

I am sorry,
You are right, Profit target should be set lower than 0.947 within the previus swing high.
Sorry about that.

Best regards

No problem, thank you for the clarification.

You are wellcome.

How are your results using this mehtod?

Regards.

[Almandine]

How are your results using this mehtod?
Regards.

I live in Europe and most of the big moves happen when I am at work. Although I can check Forex regularly during the London and USA sessions, still miss most of the signals, plus I am hardly able to baby-sit the opened positions. That's because I have only a few trades with this strategy so far. The result is a little better than break even, but I am sure it could be better if I would have had more time and experience.

And how are your results?

[chintopinto]

How are your results using this mehtod?
Regards.

I live in Europe and most of the big moves happen when I am at work. Although I can check Forex regularly during the London and USA sessions, still miss most of the signals, plus I am hardly able to baby-sit the opened positions. That's because I have only a few trades with this strategy so far. The result is a little better than break even, but I am sure it could be better if I would have had more time and experience.

And how are your results?

I see,

I have been using this method for some time and the results are good.
The best results so far i have achived since i started trading.

Regards.

[JACK-FSR]

I see,

I have been using this method for some time and the results are good.
The best results so far i have achived since i started trading.

Regards.

Hi Chinto,

I love this strategy too. My main problem is that in most cases Stop Losses are TOO large (average 50 to 90 pips).
Even though I switch to lower TF (e.g.: 1H). Are you seeing these days so many violations of trendlines? SO, if we must wait for price retrace (bounce back), we really don't have small SL (less than 30 pips).

How do you filter your operations? I think you don't enter such type of trades.... and - I remember- you only choose trades where R:R is higher than 1:3. True?

Thanx

Giacomo

[chintopinto]

Hi Chinto,

I love this strategy too. My main problem is that in most cases Stop Losses are TOO large (average 50 to 90 pips).
Even though I switch to lower TF (e.g.: 1H). Are you seeing these days so many violations of trendlines? SO, if we must wait for price retrace (bounce back), we really don't have small SL (less than 30 pips).

How do you filter your operations? I think you don't enter such type of trades.... and - I remember- you only choose trades where R:R is higher than 1:3. True?

Thanx

Giacomo[/quote]
Hi Jack,


-My main problem is that in most cases Stop Losses are TOO large (average 50 to 90 pips).[/
I understand what you are saying about the SL being too large. Because i only like to use 1 hour TF and higher, if i see a trade setup that i like, and the candle that bounces back from the TL is to large, i will use the 1 hour TF candle and place an entry order half away on that candle AFTER it closes.



-Are you seeing these days so many violations of trendlines?
Yes, some of the pairs that are in a strong up/down trend are pulling back little be, therefore some of the setups have been violated.


-How do you filter your operations? I think you don't enter such type of trades.... and - I remember- you only choose trades where R:R is higher than 1:3. True?
That is true, i only take trades whre i can get a R:R Ratio higher than 1:3 , and like i said before, i only take trades on 1 hour TF and higher.
Myronn states he takes trade on any TF, even on 1 minute TF.

I did some trading on 1 minute, 5 minutes and 15 minutes but did not like it.

Reason why was that using 1 minute TF, the rules can't be aplay the same way because there is not smaller TF to enter your trades and also the trades are small, 10 ,15 pips and so the SL has to be 3 to 5 pips in oder to have a desent R:R Ratio.

On trades like that the market can get you out and not even touche the price where you had the SL....some times 3 ,5 pips is only the spread of that particular pair.

Basically ther are many things i personaly do not like about using THIS method on TF lower than 1 hour.
That is just me, some other traders may like and have good results using the method on this TF.

Best regards.

[chintopinto]

Hi Traders,

Take a look at this amagazing TL setup!

Best regards.

[chintopinto]

Hi Traders,

Take a look at this amagazing TL setup!

Best regards.

Hi to all,

The setup was a one that i liked because the price had bounced back from the TL, but as we all know, price will, at some point violated the TL

Regards