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

[g2nogard]

Thanks you wirrison for chatting with me

This is the first time i trade on gbp/cad using this trend line strategy. I used to successfully traded on other currency. And analysis pretty detailed.
If i really survive this trade, i think i really learned a GREAT lesson and widen my judgment..

* guess NOW, i really u/s what is the meaning of stop loss

Thanks again...
Really appreciated for all the comments.

Best regard
Priscilla

[wirrison]

Thanks you wirrison for chatting with me

This is the first time i trade on gbp/cad using this trend line strategy. I used to successfully traded on other currency. And analysis pretty detailed.
If i really survive this trade, i think i really learned a GREAT lesson and widen my judgment..

* guess NOW, i really u/s what is the meaning of stop loss

Thanks again...
Really appreciated for all the comments.

Best regard
Priscilla

No problem. Just know that you are in a war out there. You plan your battles b4 u go for an assault. No battalion goes out without a plan for attack and, when their strategy goes wrong, they always have a retreat-plan.

Happy Trading

[vanilla112]

why there aren't all pairs on metatrader....I can't find gbp/can and other pairs....is it possible to attach rest of the pairs? thanks

[wirrison]

why there aren't all pairs on metatrader....I can't find gbp/can and other pairs....is it possible to attach rest of the pairs? thanks

Depends on the broker you use, and the package levels they offer

[wirrison]

This week I tried SHORT TIME FRAMES (5min, 15min, 30min, H1)for the first time with this strategy. I made so many mistakes, learnt more stuff ,
- MISSED MORE TRADE OPPORTUNITIES THAN I TRADED
- FAILED TO PULL THE TRIGGER ON SOME TRADES,
- TRADED MINI-LOTS,
- I WAS RELUCTANT TO ADD ONTO TRADES when I had the chance
- I CUT PROFITS OFF SOME OF MY TRADES

This is how my week has been :
Total Trades: 14
Profit Trades: 7
Loss Trades : 6
Break-Even : 1
Total Pips : 207
WIN % : 50%
AVERAGE WIN :49 PIPS
AVERAGE LOSS :19 PIPS
AVERAGE R:R - 2.58 : 1




I am going to review my trades and I hope next week will be better with more trades and add-ons

[g2nogard]

gosh
gbp/cad

it nearly went up to my buy point...
But now it drop to ANOTHER lowest point again....

god bless me.... sien

[wirrison]

gosh
gbp/cad

it nearly went up to my buy point...
But now it drop to ANOTHER lowest point again....

god bless me.... sien

Hi

I am not tryng to make it worse, but you know if you try to look at it from another perspective/angle, you could have seen other 2 possible trades that unfolded in GBPCAD. However it's almost impossible to see other opportunities especially when you are holding a losing position in the same pair, because all your focus is put on hopes for one trade. It's your decision at the end of the day either to stay or get out, but the more you put your focus on one trade, the more you miss other possible profitable setups on the same pair and on other pairs.

Kind Regards

[Coenraad]

Hey wirrison,

Do you find it a definite must to trade this strategy on smaller timeframes then the 4hr and 1day beacuse of the minimal signals these bigger timeframes provides? Or is it just because you have enough time?

Regards,

[wirrison]

Hey wirrison,

Do you find it a definite must to trade this strategy on smaller timeframes then the 4hr and 1day beacuse of the minimal signals these bigger timeframes provides? Or is it just because you have enough time?

Regards,

Well, I want to maximise all the time I have got, and yes, this is all I do during the whole day, and devise some other strategies as well. I have one computer doing Myronn's strategy and on my laptop I trade and test other strategies.. I found out that long term T.F. are reliable if you follow the rules properly AND if you have patience for the trade to cook. However by looking at the original post for this strategy, Myronn used to do like up to 10 to 15 trades in a day and adding on them WHERE rules comply. This is because if you look at the charts he posted, most of them showed 15MIN or 30MIN at the top left. However last week was my 1st week in the shorter time-frames, and this week I am going to try to intensify the search for the right setups since I missed about 10 good ones last week... HOWEVER I usually do really bad in my 2nd week of any strategy testing though, so don't expect anything spectacular this week... lol

[Coenraad]

Wirrison,

Can you please decribe the rules to add on to an existing position?