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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Hi all.
Just seeing if the 'User' 2 posts back could give an update on progress? I remember reading this system a while back but never really looked into it further, I guess because Myronn stopped posting but i can't remember. The thing i must have overlooked last time i read it was the trading times Myronn was using. Being in OZ myself i couldn't think of anything better than trading those times. Anyway, I hope you update us with your progress.
Matt
Guys. When pros consistently tell you to trade with trend, then trendline is the best choice than MAs due to more people obey it and is more consistant and non-lag. Theres other strategies that may go with this one,, try looking at trendline breakout and Risk-reward page. Very helpful for me.
I want to thank Edward and Myronn for putting hard work in testing and developement of systems. Very rare in forex world where these kind of people exists.
Best Regards,
Raju
I have been demoing this for a month now and have generated over 400% returns with about 6% at risk per trade.
I am going live in 6 days with a 4500 USD acc at FXCM.
If anyone here is already trading this strategy live or just doing a demo,add me on MSN messenger at biz.bold (at) zappmail.net or on Yahoo messenger (yahoo messenger supports the adding of msn contacts so it will work the same)and we can perhaps help each other in finding potential trade setups as it can become tedious to check many currency pairs and 4 eyeballs are better than 2 :P - let alone the timezone differentials.
Thanks for giving a little bit of feed back on your demo. If you don't mind, could you give a rough estimate of your average wins/loss, pairs traded,times traded and anything else that can help like max consecutive loss and wins.
I would have thought 6% is a very large trade but if all the stats add up i guess there is nothing wrong wih it.
Even if you could post some screen shots of your setups that'd also be appreciated.
Best of luck going live. Matt
Hello,
Guys,I am sorry I made a mistake with my msn/yahoo ID,instead of biz.bold (at) zappmail.net please use ablearcher (at) zappmail.net I am really sorry for the typo.
@Matt
I am the zappmail guy,lol (anyway to have my nickname displayed?)
Check the EUR/GBP for an example of a long setup (I am currently long) on the 4 hour chart.
Very clean and neat.
Also Matt,I am getting around 50-60% win ratio,but I could do better with better discipline,lol.
The secret sauce that makes this such a great strategy is the truly awesome R:R.
Oftentimes you will get 3:1 or in some instances as much as 8+ R:R.
Even with a 50% win ratio your edge is huge,you can afford 3 losses for each win you have and in some cases even more.
Hi guys im following this method now as well on a demo account and im very impressed so far. I had a look at the EURGBP as you suggested Zappmail and I cant see a trade there at all, am I missing something? If you could upload a screenshot of your trendline on this chart that would be great, if not could you explain your entry price?