Advanced strategy #10 (Trend Line Trading Strategy)

Hi Myronn,

I really like the strategy, one seemingly dumb question though...is there any way to use this indicator in a non-mt4 platform. I trade with fxcm, is there a way to convert the file, or would it work?

Thanks

Hi,
.mq4 files are not compatible with platforms other than MT4.
FXCM has MT4 platform too, so you can use their demo account to follow Zigzag indicator.

Regards,
Edward

How far back do you consider when drawing Daily/H4 trend lines?

When drawing trend lines should you EVER use the LAST swing high/low as a connection point for your trend line? I have found while testing that if I do this that the last point rarely obeys the trend line I drew and newer swing high (in the case of an uptrend) or lows (downtrend) are easily formed.

I've noticed that Myronn talked about MAJOR swing high and lows, and also preferably those where you can connect 3 points, so I guess we have to concentrate on finding MAJOR trend lines with a help of Zigzag of course, and we don't have to be stuck with recent swings.

Tom

wow! nice.

This system may not be the holy grail but it puts up SERIOUS NUMBERS. Patience is the key. Higher time frames gives the best results and less stress (for me). I trade during the open of the British for approximately 5 hours depending on set ups. ANY PAIR IS SWEET. Personally I use the gbp/usd, eur/usd, usd/chf, usd/jpy, aud/usd, aud/jpy, gbp/jpy, and usd/cad. I have approximately 4-5 set ups per day with usually 1 or 2 pairs bouncing back to the trendline to trade again. The only thing that i have changed with the stategy is how to figure out the daily trend. Myronn's forex game is sweet because he is able to do it by eye. Personally i use the 200 sma on the daily chart to give me the direction to trade for the day. I use the hourly chart to draw my trendlines and initiate trades on the 30 minute chart. My take profit and stop loss is a little different. you will get better with this issue as you demo and practice and find what suits you best. But Myronn gives you a perfect example of how to get out of trades in his first submission.
Honestly ladies and gentleman I was weary at first and like many will by pass this information and use it as forex food for thought. But when i saw his numbers and his strategy it really caught my attention. Ive been in the forex game for 3 1/2 years and counting. Lost serious money and NEVER had a winning month. Usually due to discipline and not realising the system just did not work. These last three months 1st month demo and 2nd and 3rd live account I have been profitable. This month, which will be the 4th month Ive made the money back I've lost from the 3 1/2 years of trading live and made significantly more money.
Im not selling nothing of course because this site is free. Which by the way Edward, God Bless You, because there are not too many things you can get for free these days and i know its hard work keeping this site running.
Enough of me rambling but one more last thing.

MYRONN I DO NOT KNOW WHO YOU ARE OR WHAT YOU DO. BUT I WOULD LIKE TO SAY THIS TO YOU.

THANKS A MILLION

To everyone else, good luck, practice, patience, discipline and FIGURE IT OUT because it is right here in front of you for FREEEEEEEE. It took me a hard week to understand which time frame best suited me, take profit, stop loss, trendlines drawn according to the strategy etc. and when the numbers started rolling in, my weary thoughts became confidence in the system. And I went live. 3 1/2 years of getting my butt wipped. hours upon hours upon hours glaring at the screen, reading books, taking classes, and oh yes buying EA's from off the internet and much more. And all it took was this guy named Myronn and Edward from a free site to start making real money. Life is crazy!!!!!!!!!!

Thank you. It means a lot to me and my team!

Happy trading!

Edward