Advanced strategy #10 (Trend Line Trading Strategy)

Hi, everybody

i am new to this forex trading but i found Myronns trendline strategy is good...hopefully INSYALLAH (God willing) it will always be successful in the long run. Make nearly about 80+ pips on 2 trades but make mistakes with the trailing stop though....i havent seen Myronns comment in this thread anymore...why? would like to know his update on his live account. i send email to him and he replys very promply....thanks Myronn and everybody!

IS

BSB

Hey, you guys haven't seen any stuff from me either but I'm still around . . . .

Speaking of which, Edward, I hope you took some time off to enjoy life a bit. I know you're a busy man, but you must remember to smell the flowers once in a while. For me, Xmas is a great time to stop trading and look at all the mistakes I made in the year and work on them.

Regarding Myronn's system:

Joe Ross said that trading was:

Signal Identification 10%
Trade Management 20%
Risk Management 10%
Money Management 10%
Personal Management 50%

So we have 10% of what makes a lucrative system. Depending on the other 90%, Myronn is either on his yacht, or under the ocean, who knows. For those that say the system is not valid if he is not writing, that is BS.

Think about what you need to improve to accomplish your goals. Then do it.

And thanks guys for making the upload method better.

Grant

Great to have you back, Grant!

I enjoyed holidays, and as always I wish I had more time to relax :)

There is 40% of money/risk management, which I agree with, but there is too much, in my opinion, given to a personal management (50%).

Any personal management depends heavily on the trading system one uses.
A trader who is 100% confident about the system he uses will hardly never try to compromise his trading with an attempt to go against the rules.
On the other hand, a trader, who believes that his system is not able to catch every trade he wants to be in, will most likely try to alter his trading here and there...

In order to ask for a disciplined trading, you have to document your trading rules first to be able to follow them precisely. You also have to have every single condition: stop, exit, re-entry etc. described, leaving no room for a second opinion or a guess.

So, I'm assigning 10% of the success to making the first step in documenting your trading rules;
35% to having a great system, which you can trust 100% any time anywhere, (makes it 45% total);
and 5% to an effortless attempt to read these trading rules and apply them as is,
(that's what's left for me for a personal management).

Best regards,
Edward

Hi Edward,

Hope Myronn comes back one day. anyway I've found an ea which will do this automatically for you all you need to do s draw the trend lines and then decide where to pace your buy or sell orders at a trendline break. It takes just a few minuted and you dont have to continuously watch the chart http://codebase.mql4.com/1024

Burt

PS>Happy new year everyone

Hmm, that's something interesting.
Thank you for sharing, Burt.

Regards,
Edward

I have just discovered this site and have been reading with fascination. My name's Barrett! The strategies here look great and this one sounds very promising indeed!

One problem if anyone can help please..... I've been searching on Google and can't seem to find the swing zz indicator Myronn talked about.... can anyone please help?!

I can be reached at bharatadodra2@yahoo.co.uk

Thanks! :-)

Hi Barrett,

Thank you!
Here is the indicator:
Swing_ZZ.mq4

Best regards,
Edward

Hi Edward,

Great! Thanks! Wish I'd found this website long ago!

Is there any section on here with advice / reviews of either FX auto trade systems or EAs that provide signals? Another question is: Do I have to "join up" to use the Forum on here?