#6 Tom DeMark Trend lines
Submitted by Edward Revy on June 25, 2009 - 15:48.
This is a well know trend line breakout strategy by Tom DeMark.
The only difficulties traders had earlier were all about constantly drawing trend lines and calculating profit targets.
With a help of custom MT4 indicator this problem was solved.
Two variations of the same indicator:
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Hi Edward,
I can not open the Tom Demark Trendlines files
Indicators:
IND-TD-DeMark-3-1_eng.mq4
Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.mq4
all is opening like a webpage and display codes, please what do i do?
Destiny, getawayclub4real(at)yahoo.com
Try with the right mouse click -> save as
Thomas
Thank you,it works.please i need help,i lost more than $600 on Thursday due to the news release,i have tried Technical is not working for me,i bought system all is the same thing,that is i decided to try Fundamental and i lost $600,please help.
Destiny, getawayclub4real(at)yahoo.com
These facts suggest you should stop trading live.
Every trader can have ups and downs in trading, but only those who are able to manage funds appropriately survive.
There is a wisdom that you can lose by having little experience, but you can't be rich under the same circumstances.
Give it some more time on demo before you consider taking a new risk. It often takes years to master Forex trading, so don't quit.
Thomas
Hi Edward,
Should i wait for the bar to close after the breakout before entering the trade?
Azim
this is a perdant strategy. doesn't work anymore both EMA's and divergences . Doesn't work with candlesticks patterns and 123 pattern. This strategy sux . Don't lose time with this
Yes, Azim
we wait for a bar to close before entering, I do when trading trend line breakout (except for advanced #5).
To user who said that it's not working - currency trading based on support/resistance, including trend lines will never stop working, because this is the essence of trading. But such type of trading may not work for everyone, or may not work from the first time you use it. Either way, I always suggest to move forward and try new things if any system doesn't deliver results for you. So yes, there is a value in your feedback as well.
Kind regards,
Edward
Hi Edward,
Do you still trade with Oanda, or you completely switched to MT4 ?
As you have now big experience trading both platforms, which one you would recommend ???
I'm still with Oanda but thinking about to try MT4
Andris
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