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

[Sdot]

My stop loss was too close for the Daily? But i entered on the H1. H4 and the Daily were both trending downward. Are you saying that i should have set my stop according to the Daily even though i entered on the H1?

[Bad Trades]

HI been following Myrons strategy for a while now just started getting the hang of it and being profitable in my demo account, which is great but I recently went back over his account statement after reading about taking trends inside the main trend and I noticed he does not always have a good risk/reward ratio.

for example (I think its 17th from the top) USD/JPY bought at 104.33 with a profit target of just 2 pips and stop is about 54, is the high risk stop just to give is some breathing room because the main trend he is following is already established and the chances are it should continue in the right direction, and if so why such a small profit target?

That example is pretty extreme not all of them are that way but 2 pip PT for 54 risk, I don't get it.

http://forex-strategies-revealed.com/fi ... shot_1.jpg

Thanks for all the help from FSR (excellent website Edward keep it up) and the community as well I could not have learned as much as I have without the help.

Kind Regards

[Sdot]

My understanding is that you enter when the higher TF are trending in the same direction that you see a bounce off of a trendline drawn on a smaller TF. You then set your SL and TP based on the rules of the system on the TF that you entered on. Is that correct?

[wirrison]

My understanding is that you enter when the higher TF are trending in the same direction that you see a bounce off of a trendline drawn on a smaller TF. You then set your SL and TP based on the rules of the system on the TF that you entered on. Is that correct?

Sdot

This is my analysis
1. You are missing the BIG PICTURE.
You tried to trade against the trend. However, I cannot say where the market is going to go from here, I wish I knew...
Look at the snapshot I uploaded


Who's to say I am right or wrong? THE MARKET DOES WHAT IT WANTS at the end of the day. However I'd rather board a bus (bigger trend) than a motorbike going the opposite direction(smaller trend) because in the event of a crash between the 2, the bus is the survivor. I missed this bus a few days ago though..

Happy Trading

[Sdot]

Thanks ROM, Bad trades and Wirrison for your help and explainations! its greatly appreciated

[vanilla112]

what brooker are you guys using

[Sdot]

I use ibfx

[wirrison]

Thanks ROM, Bad trades and Wirrison for your help and explainations! its greatly appreciated

You're Welcome. What I've learnt is that the price doesn't change direction without a reason; price doesn't lie, it's the best indicator you've got. However, the direction the price moves can make us panic, because we cant tell the future. So always do an analysis on every significant turn/move when you are in a trade so that you make sure the conditions that you got into the trade for are still met. . If your reason for a move is not in one time-frame, then it would be in another.

[g2nogard]

Hi guy...
Can you guy help me? I am now on stuck on the Gbp/Cad trade ( live trade) I had drawn a trendline at the bottom, and i'm going for a Long on last wed. The problem is it touches my bottom line, but it still going down. I am losing now. and might get a margin call. I guess i need to deposit some more into the account and w8 for the RISING.

Can anyone kindly help me to predict it will still going down and when might it be moving up again? ( not to be 100% )
THANK again

[Coenraad]

Hey, which pairs do you guys/girls trade with this strategy? I can't see any reason why it wouldn't work on any pair..