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

[il brigante]

I am also short usdjpy, I placed a sell stop 5 pips the 4h candle that intersected the DTL

[simpleforex]

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.

Thats a good entry on the eurusd, you managed to get in when it bounced back (retest)from the broken trendline.

[simpleforex]

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.

il brigante, just need to pay attention to the upward trendline, there can be upward bounce from there. if this tl gets broken, expect some more big move downwards

[maudur]

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.

Thank you. Is very interesting. I wish you luck in your trades.

[ganokave]

Almost is.
exactly: 1:5

60/60=1:1
60/120=1:2
60/180=1:3
60/240=1:4
60/300=1:5

Hi to all,

I had an sell order on EUR/CAD at 1.59400 with a SL above the 4 hour TL ,300 pips profit.
This is the kind of R:R ratio i was taking about.
Risking 60 pips to get 300, that is,1/6.

Opportunities are in the Forex Market every day, this Trading method helps us to find thoes opportunities and take advantage.

Regards,
Chinto.

[il brigante]

I got stopped out on usdjpy.
audusd is still running, I moved my stop just above the last resistance

[il brigante]

Now, I am very dissapointed with myself, becuase I was right entering short eurusd but I move my sl too soon (blue line) because I thought that was the last swing high, the market got me out with 14 pips profit and then went all down were it was meant to go. I need to sharpen my pensils in regard of trailing stops.

[il brigante]

Simpleforex, could you tell me please when do you move you trailing stop to B? Do you move it once prices close (1h chart in my case) below the A's low? Or do you have any other suggestions? Thank you again.

[il brigante]

Sorry, here is the image

[maudur]

I'm going short in CADJPY.

What do you think?