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

[simpleforex]

audnzd, still running.

[simpleforex]

audusd, got in with 3 trades. still running. will wait and see how these ones turn out nxt wk.

[simpleforex]

and lastly the euraud. got another trade on the break of the major upward trendline. Locked in about 15pips on that.

[il brigante]

Simpleforex

Thank you for your comment on my trading and money management.

There is a saying: You are not fit to be farmer if you keep looking over your back continiously when you are ploughing...likewise in trading. (I like that)

My trades on nzdusd, audusd and audjpy are all going my way and I have locked respectively + 25, +46 and +46 pips. I also entered eurjpy long gained my risk, move my SL to BE, it then turn back and got stopped.

I wish you all a wonderful weekend.

Cheers

[toinou21]

To Simple forex and Il brigante
"My suggestion: dont inject any more money into your trading account until you increase your account by 100% or 200% (take a pick). You need to prove to YOURSELF (not me, not Joe Blow or any Tom Dick and Harry) that YOU can do that...with a small account...and if you can do that with a small account then you can do the same in a big account. "
I will take this advice as well. I'm going live next week with 400€, and if im able to increase this amount by 100%, then why not trade with a bigger amount.
I wish you all a good weekend.


PS : i test this week on GBPJPY an EA, its call Swissarmy, with this EA you can manage your order ( it doesn't take order for you), to breakeven, breakeven slide, trailing stop, or take partial profit and even more option that im absolutely not familiar with due to my poor english..... I m not going to post this ea on this thread, because I don't know if i can, however if you are interresting here is the link. ===> http://www.forex-tsd.com/expert-advisor ... ement.html

[Azim166]

Undercapitalisation - what will happen

1. First he will try to establish direction
2. Then he will use minimum lotsize in direction of trend if he is not stupid
3. Because account is so small he has to trade with a tight stoploss
4. Then the real fun begins when random intrahours movements happens. With 14 as minimum leverage his SL will be 50 when risking 5% on a single trade .... small enough for being taken out by unpredictable movements
5. In a bullish context one should buy, and if price move lower one should buy more, but stoploss will cause him to sell when he should buy
6. Enjoy him trying to solve a problem that has no solution
.

Too much speculation, lol

[Azim166]

Progress in live account?...I really dont know but it very healthy. You can see the results of the trades I'm taking.

On MT4 the number is printed in bold at bottom under page "Account history"
I compute risk on each trade by using that number.

I know what an account history is..and I know how to calculate risks...

There is a saying: You are not fit to be farmer if you keep looking over your back continiously when you are ploughing...likewise in trading. If you keep CONTINIOUSLY looking at how much you have increased your account this week, last week, last month and then you think that...geez, im going to do the same this week, next week, this month, this year.. this is trouble because if you go into the market with this "expection" that you are going to do the same what you did previously . the past is history.past results do not guarentee similar future results. succesful trading is more about consistently following a system than about results (the money). The money (the result) little or big is bound to follow the consistent trader...this is my experince, I dont know what others experiences are.

If my account was xgrand last week and now if its x+10grand, thats " healthy"...at least I know at just a glance, that it has increased. Does it really matter how much percentage I increased it by? not really...I am not competing with anyone...then again, Does it matter how much percertage I DECREASED it? Yes! especially when it is significant and when one is not following everything by the book. This means its time for evaluation.

110% agree with you

[Azim166]

About begin undercapitalized - the usual pitfall in forex

Too much speculation, lol

Here is todays email from Boris Schlossberg what-your-trading-talent-t2063.html ....who is struggling as much as we with daytrading. The heavy guns tell the same, but since the point is short an well written by Boris Schlossberg, I rather post his version.
.

[simpleforex]

all 3 trades on audusd closed out at breakeven.
27pips profit on audnzd, got stopped out.
861pips total profit on euraud, got stopped out.

there is a possible short seup on audusd, 1hr tf
also a possible short setup on euradu also on 1hr tf...might have to swtich to 30min tf to get in...

[simpleforex]

gbpchf possible short setup