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

[il brigante]

I got stopped out on eurgbp, lost 38 pips (huge spike)

I got stopped first time on audusd, lost 39 pips, then I got in the second time, risking 35 pips, moved my way, locked in 32 pips.

The market seems a bit crazy at the moment, I think because in Japan things are getting out of hand and that is not good at all.

[simpleforex]

[quote="il brigante"]I got stopped out on eurgbp, lost 38 pips (huge spike)

ah, the spikes...crazy things...

[simpleforex]

30 pip loss on usdcad trade, 19 pips profit on eurusd...exited on eurusd because didnt like the candle that formed there

[simpleforex]

however, I did managed to make some good amount of pips last night with the following trades.I traded 1 standard lot in each of these trades and when they were around the 100 plus pip profit levels, I took 0.8 contracts out in each of them, and and now I have 0.2 lots running in each trade. You will notice some trades where I had the first trade goin on the same pair and then an opportunity came to take a 2nd trade on the same pair, I jumped in...

[simpleforex]

You will notice some trades where I had the first trade goin on the same pair and then an opportunity came to take a 2nd trade on the same pair, I jumped in...[/quote]

Let me explain this idea a little bit further with a bit of "how to" and "when to" do it.

When to do it: when you have prior existing trade that is currently in proft or stop loss moved to break even.
How to do it: I leave that to you...if you can't figure it out, you are wasting your time... kidding...simple, get in when the system say buy or sell...is that too hard?
Advantages:instead of just profiting from 1 trade, now you can have 2 or more trades on the same pair so that means multiple opportunites for profit on the same pair! So when the market moves in the direction as anticipated, you make a lot more profit than if you were ridding the trend on JUST ONE TRADE...
Why is this concept so important for us to grasp is that it increases your account fast with very minimal risk. In essence, you are actually using the profit of the 1st trade to enter the 2nd trade and you are using the profit of the 1st and 2nd trade to enter on the 3rd trade etc..etc..blah blah blah!

What are important considerations:
(1) the prior trades must be in profit, or stop loss moved to break even
(2) DONT increase your lot sizes on the subsequent trades...that means if you trade 1 lot in the first trade, then trade 1 lot again in the 2nd trade and so forth...is this hard to understand? Simple.
(3)Keep the same risk...if you risk 2%, the subsequent trades must also be the same.
(4)Take out some profits on the 1st trade if there is a GOOD amount of profit ready to take when you are considering to geting in on the 2nd, trade. Its your choice.

[il brigante]

Simpleforex,

Good trades.

Cheers.

[simpleforex]

there is a good short setup happening right now...im going short

[il brigante]

Out of audusd, made 45 pips.

[simpleforex]

all my other 0.2's got stopped out giving me some guarenteed locked profits...only usdch trade is still running.
ok, the euraud trade setup...my stop order was not triggered, however the market is struggling there around the trendline at the moment...its friday now, maybe we might not see a big move in any direction but I am keeping my eye on the current 4hr candle that will close in around 22mins time, if it looks bearish, Im giving it a 2nd try again...

[simpleforex]

something to note about euraud...given that the upward tl is broken, we might be expecing some downward move based on this. only time will tell.
lets wait and see next week how this pair will move, UP or DOWN? any bets? I bet it will go down...if you think up and it goes up, you prize will be a SMILEY on the right...

Cheers Guys!

have a top weekend!