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

[simpleforex]

EURAUD analysis....

[simpleforex]

Ok, guys,
Here are some important points to consider when it comes to knowing when a trend is starting or ending:

A bull trend is identified by a series of rallies where each rally exceeds the highest point of the previous rally. The decline between rallies ends above the lowest point of the previous decline. A series of successive higher highs and higher lows.

The start of an up trend is signaled when price makes a higher low (trough), followed by a rally above the previous high(peak):

Start = higher Low + break above previous High.
The end is signaled by a lower high (peak), followed by a decline below the previous low (trough):

End = lower High + break below previous Low.

Lets look at the EURAUD CHART AND ANALYSE this:

You will notice that we already have a Lower High(LH)...market couldnt move above the previous Higher High(HH)... and then it tumbled down and went past the previous Higher Low (HL)...so that means the trend has changed. This theory is called the DOW theory.

The question is: does it work all the time? No... so What is the advantage of learning the Dow theory then? You just read it...gives you the ability to know when a trend is most likely changing or has changed...

Hope this is not too confusing...

[simpleforex]

never forget to check your larger timeframes like the weekly and the monthly...you dont want to be left wondering why you got stopped out at a certain level when everything was lined so perfectly for you to enter and all of sudden, the market just went the other direction...

[simpleforex]

Hi, everybody! I am glad that this forum opened. Is this gentleman who wrote it in July in the original discussion of the Myronn system, here in this forum?

Becasue I would like to ask him, that is he still successful? And, how could he find 4-5 setups per day using 8 pairs? I am not able to find so many setups.

Yes, he is around...his name is ""SIMPLEFOREX"...
...thought this forum was dead, so I'd inject some life into it...but using a different name(nickname)
Now the SECRET IS OUT...

4years of amazing results,,,cant beat that...keep it simple guys. Look at my posts and LEARN...and dont complicate things too much...

[trevone]

Yes, he is around...his name is ""SIMPLEFOREX"...
...thought this forum was dead, so I'd inject some life into it...but using a different name(nickname)

Nice to know that you are there Simpleforex, I will do my best to support you on this thread.

So I got in on the aud.cad trade at .9802 and set my stop to .9845 (I added 10 pip for the spread at the time) its already just missed the stop once and right now its testing it again. I think you correct about the bulls simpleforex, I wish I could have seen that before I entered.

[Ramirez]

Can't believe it. That's just awesome I'm stunned and really glad that the inventor is among us

[trevone]

Possible long entry on the usd.cad with a R:R ratio of 1:5

long at .9805
stop at .9780
target at .9940

[simpleforex]

Traders,

a couple of posts back, I mentioned someting about capitalizing on the move of a trend...instead of taking only ONE trade, you can take 2, 3 or 4 and more trades on just one currency pair and have multiple trades all in profit on the same pair.

The ONLY Condition when you can do this is when your 1st trade is in profit and you have locked in some good amount of profits or your 1st and 2nd trade are in profit and some profits are locked so you can open a 2nd trade. Or, if you 1st trade has good number of profits locked that you can actually open 2 trades based on the 1st trade, which is what I did here on EURAUD...

My firs trade was in 100pips profit when I entered my 2nd trade at the BREAK of a major support level which you can see in the 1hr or 4hr timeframe. I entered my 3rd trade AFTER the support level was broken and market tried to go back up and test the support level but could not and formed an INSIDE BAR on the 5min timeframe.(yes, I was watching this pair on like a cat watching a mouse on the 5min timeframe ready to pounce... )

As of this writing, 1st trade is 120pips floating profit, 2nd trade 22pips and 16pips on 3rd trade.

Ok,some may ask why i took the 2nd and 3rd trades which are NOT based on the Trendline trading strategy.

The thing is... IT IS based on on the trendline trading strategy... The move of this pair was based on the 1st trade which was based on the strategy and any subsequent trade I take IS a result of what happened in the first place. as the market moves, it will break previous SUPPORT or RESISTANCE levels...and also trendline setups will occur as market moves.

If I took only 1 trade, 1 will only have 120pips floating profit right now, but I have another 2 trades both of which are in profit giving me another 38pips so that brings me to a total of...you do the math. Ok, the 2nd and third trades, stop loss is quickly moved to break even at the earliest opportunity.

I dont want to be on the sidelines with only one trade if this trade is going to continue for a very long time...

Its is also an agrresive trading strategy but with very little risk. If I get stopped out with the 2nd and 3rd trades, no problem, my firs trade is still in profit... and I have not lost anything on the 2nd and 3rd trades because my SL are moved quickly to break even or at the most I will lose only a little...or nothing at all.

This is one very good way to increase your trading account FAST with very little risk...

[trevone]

@s would you say you scalpting there? Whats the maximun number of positions you take?

[simpleforex]

@s would you say you scalpting there? Whats the maximun number of positions you take?

.

Definition of scalping:
The term used for a day trade method where trades are opened and closed within a very short time scale, perhaps anything from a second or two to a few minutes

In regard to that definition, no, this is not a scalping method as far as my approach is concerned...I have NO intention of closing out my trades within few minutes, I want to let them run as long as they can with the trend. my switching to the smaller timeframes is for only 2main reasons:
(1) Risk control
(2) To get in early at the most appropriate time.

Often open 3-4 positions (depends on setup) IF all the previous trades are IN PROFIT and profits locked or stop loss moved to breakeven on some.

Ok,My 2nd and 3rd trades stops got hit on on the euraud...breakeven on both.good, I have lost nothing.