Advanced strategy #10 (Trend Line Trading Strategy)
Submitted by Edward Revy on October 4, 2008 - 08:30.
A truly great work has been done by Myronn, the author of the current Trend Line Trading Strategy.
Support-resistance trading, trend line trading, checking higher time frames, money management — the strategy has a concrete-like theory base and a simple implementation — a winning combination, that places it into the category of advanced strategies.
Remember, your feedback, comments and suggestions are always in great demand!
Edward Revy
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ONE MORE BREAK? ANOTHER WEDGE ON EUR. REMEMBER GBP DROPPED 100 PTS AND EUR 300 ON THE LAST ONE. THE BIGGER THE WEDGE, THE BIGGER THE BOUNCE. IT'S A SPRING, BEING WOUND TIGHTER. MONDAY, SHOULD EXPLODE.
I Love this one. I was about to give up on forex. I have been trading live for about 6 months now. First put in $500. lost that. Then put 900. and tried a Robot, Lost that. Then put in another 500, and said to myself if i loss this then im done with forex So that fell to 200. and then I Started this Strategy one month ago. My balance is now 428.
I will keep you informed on how i am doing. Thanks for building the site and those people that add to it.
thanks, mike flick
12/03/2008
hey myronn is this thread finished? i hope not. im curious about your current results of your trading. cheers
Hi everyone,
From my experience, trendline and breakout are usually give the most pips and wonder why not combine both? we put pending order on both side of the line. however, im not sure the rule of how many pips above the trendline we must put the pending order. as, sometimes, the price slips from the trendline and comes back to its original trend. May end up lost in both direction. lol i'm not sure how often these are, perhaps the pros could give some idea about it. ouh ya, edward and crew... what an awsome website u created. god bless u..
cheers
Amrin
ouh ya, i just got 90 pips from usd/jpy from 3 trade on 30min tf however, loss 20 pips on the last trade as it brake that trendline. that's make me wonder.. lol.. p/s its summer and beautiful in New Zealand.. hows winter up there
amrin
hi, its me again
now i know why i loss in the last trade. it hit its resistance at 92.3. i totally forgot. anybody knows indicator that put support, pivot and resistance on mt4. i usually check from a website but always forgot about it. so, the learning point here is, always know the support, pivot and resistance!!!
Hi Amrin,
You are very welcome!
The indicator, if you refer to Pivot point for MT4, here it goes:
PivotPoints_mp.mq4
Also you may like this simple tool:
SuperSR_6.mq4
Happy trading!
Edward
There is a whole topic about trend lines and breakouts.
Let me address it in few days time.
Regards,
Edward