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

[simpleforex]

the sell stop on ausi got triggered...just as i was posting..it sure happened fast.20pips loss on the buy order, but im in or the short side. we will see how this goes tomorrow

[simpleforex]

Maudur,
my stop loss moving techniques:
(1) when trade is profitable, i move stop loss behind PEAKS/TROUGHS.
(2)if there is a big price move and no obvious peaks or troughs, i find significant areas of support or resistance that is broken and move my SL just above/below it.the reasoning for this is that if price comes back to this support/resistance level, it has a high probability of going back in the direction where it was headed originally and so i place my SL a little above/below this areas of S&R.

Excellent, and that about TP?

take profit 2 options:
(1) target previous swing highs/lows and set tp WITHIN them.
(2) no TP target at all, just lock in profits and RIDE the tend as long as you can locking profits and placing your stop loss behind each subsequent swing high/swing lows until you get taken out.let the market get you out and ride it as long as you can...that is the reasoning for this 2nd option.
if you ask me which do i prefer, i prefer the 2nd.

apologies for not replying sooner, i missed your post, i had to go back and i saw it.

[il brigante]

Thank you, simple forex, that helped a lot. So when the trade goes your way the R/R is excellent. But can you tell me what percentage of the trades are winning trades? So then I can understand how to evaluate the number of losses, so I don't get demoralised by a few losing trades.
Also yesterday I entered short nzdjpy and got stop out. I entered this trade because the 4 hour down trendline got intersected for the third time, I then switched to the 1 hour tf and place a sellstop
5 pips below the 1h candle that touched the trend line with a sl 5 pips above that candle, but got stopped out. I really would like to know what you think about this trade, and if it was a trade that you would consider. I have atached the 4 and 1 h tf
Thank you very much for your feedback.

[il brigante]

This is the 1h tf

[il brigante]

I am long eurusd, prices bounced from 4h uptrendline, 4h downtrendline previously broken and from resistance turned support, I switched to the 30m tf and got into the trade, I then moved my sl to the latest swing low.

[simpleforex]

Thank you, simple forex, that helped a lot. So when the trade goes your way the R/R is excellent. But can you tell me what percentage of the trades are winning trades? So then I can understand how to evaluate the number of losses, so I don't get demoralised by a few losing trades.
Also yesterday I entered short nzdjpy and got stop out. I entered this trade because the 4 hour down trendline got intersected for the third time, I then switched to the 1 hour tf and place a sellstop
5 pips below the 1h candle that touched the trend line with a sl 5 pips above that candle, but got stopped out. I really would like to know what you think about this trade, and if it was a trade that you would consider. I have atached the 4 and 1 h tf
Thank you very much for your feedback.

to be quite honest, i really dont pay attention to what percentage of winning trades or lossing trades. i sometimes can make 5 lossing trades in a row and losing 20 to 30pips each trade then get a good run on the next trade where i make anything from 200 to 500pips profit. the thing i do is to keep my risk small and risk the same amount in every trade i make so i can suffer loosing streaks but then when i hit a 'HOME RUN', I easily make up for these losing streaks and also make much more. if you get demorolized, i do get demoralized too.there is no such thing as emotionless trading...i think thats bullshit.maybe for robot trading, but not human beings.important thing is keep a cool head, and remember that oportunities will come to recover what you lost but the recovery of what you lost is made MUCH EASIER, if you risk small and same amount in each trade you place.

your entry is correct, nothing wrong with that but many times, the larger timeframe trendlines act as magnet pulling the price to them so you can enter in minor trendlines but eventually the pull is so great that i will still head back to the trendline and thus take out your stop loss. so when you enter in such a situation, this is an important point to consider that means, you need to lock in whatever profit you make at the earliest oportunity if you can.

[simpleforex]

the audusd trade going good

[simpleforex]

im short on the usdchf this morning.will see how it pans out tomorrow

[il brigante]

Thank you Simpleforex, your explanation makes things clear.

I was long eurusd, moved my sl to the latest swing low, then it reversed and made only 14 pips. It broke my 4h trendline and I am now short.

[il brigante]

audusd broke my 4h trendline and I am short, moved my sl to the latest swing high. My entry is not as good as yours Simpleforex.