As a matter of fact, simple forex trading systems are much easier to use and can be extremely profitable. Learn from those trades that went right and made you profits. Thanks you very Hi Myronn. There is also a chapter about money management. You have the option to test them out without paying for them and eventually find a trading system that advancd you.
A truly great work has been done by Myronnthe author of the current Trend Line Trading Strategy. Support-resistance trading, trend line trading, checking higher time frames, advanced trading strategies management — the strategy has a concrete-like theory base and a simple implementation — a winning combination, that places it into the category of advanced hrading.
Lol… I cant blame you. But maybe you can learn something extra here. Do yourself a favour and take a look at a chart and see if you can identify a trend. Is there a main established trend? There are exceptions where you can go against the main trend, but I wont touch on that here. Timeframes suitable for these strategies are the daily, 4h, 1hr, 30mins. I use only 1 Metatrader4 indicator called Swing ZZ zz for zigzag. It is freely available in the net, just google it and you can download it.
Thanks to the programmer who wrote tradibg. I call this frading trading strategy because it involves drawing trend lines using the swing highs and lows of the Swing ZZ indicator. Get the big picture first, that is very important. For me, when I want to advwnced on the hourly chart, I first check the daily chart and also like to see what is happening in the 4hr chart as well to see if I can spot an obvious trend or channel or congestion happening in the daily and the 4hour charts.
I stay tracing if there is congestion until advanced trading strategies of the congestion happens and a trend is established. I draw trendlines in the tdading or on the 4rhly charts chart then switch to the 1hr timeframe. I identify trends in the hourly and draw trendline s as well. The trendline can be the strategied, 4hrly or the 1hr trendline. You must place your order when that candle closes.
Note you must wait for price to approach a strategiex or very near to the trendline before you place your sell stop order. You should set your stop advanced trading strategies according to your money management calculations and risk tolerance. Just do the exact opposite of short entry. Here is a screenshot of the trades I have taken using the strategy above. Attached are account history screenshot of trades taken in two parts as I am unable to take 1 complete screenshot.
This strategy advanced trading strategies amazing ,hats off for you buddy. I just want to ask you that i advanced trading strategies not have swing zig zag indicator so is there any other substitute? I mean is there any other way to identify swing highs and swing lows? I hope you will reply soon. You really dont have qdvanced use the swing tradong indicator at all in this strategy.
But it does make it visually easy for me identify swing highs and lows in the past and based on that draw trendlines. At a minimum of 2 "peaks" or 2 "valleys" is required for you to draw a valid trendline. A line of best fit is usually required if you have 3 or more points to conect. That's a power strategy!
As I understood, all your entries are taken on 1 hour timeframe. May I ask, how do you determine what swings to use daily, 4 hour, or hourly for setting stop losses? Does it depend on the trend line being traading Or am I mixing things up Thanks for strafegies great job For stop loss, allow me to give an example here:When I place my sell stop order in the 1hr timeframe, i search for the previous swing high also in the 1hr timeframe and put my stop loss just strategiew pips above it.
If the previous swing high is just above my entry and advancer stop loss would be like 20pips placed just above it, that is good. Ok,the issue is: what happens if the previous swing high is about pips away that would mean pips stop loss right? Can you take that or not? When it violates my money management rule, what I do is I switch to a smaller timeframe and that would be the 30min. In there, I look for swing highs that would be much closer to my entry point advanced trading strategies and with stop loss that fits my money management and that is where I place my stop loss just 5 pips at least above the previous swing high in the 30min timeframe.
Thats how i do it and i strstegies you all will experiment and see what fits each one of you individually as traders. Remember, wait for the price to come to the trendlines before taking any trades, dont take anything in between the major trendlines. Patience is the key. I place my order as described in the strategy. Pls note that I advice not to use MARKET ORDER entries when prices near the trendlines because ANYTHING can happen there. Answer: any currency pair that is trending. Answer: There will be candles breaking or intersecting the trendline s trying to head in the opposite direction to the main trend.
However, if the trendline is broken and a new higher swing high and higher swing low is made that may signify an uptrend. Grateful for your detailed explanation. One more advanced trading strategies question, please: this time stratehies profit targets. Same trouble: I enter on 1 hour chart, do I look for a previous swing on 1 hour time frame?
In your examples the charts are 4 hour and daily and profit targets are tradinb accordingly. Were those entries taken strategiez other than 1 hour chart? Active traders Poll - share your live experience or read what others have to say. How to profit trading Forex. Trailing stop EAs MT4. Forex systems with MT4 custom indicators. Create own Forex system. Forex Polls - results. There are currently 8 users online.
Submitted by Edward Revy on October 4, - Remember, strstegies feedback, comments and suggestions price action trading strategy forex always in great demand! This strategy is Hi Myronn. BigPond wireless broadband hmmm Hope this answers your question. Yeah, Ausie,,lol, dead giveaway huh? Thanks you very Hi Myronn. Thanks you very much for your quick reply and detailed answer for my question. That's a power Hi Myronn.
Tarding of all, this site is awesome. Edward, you are a great man. I am calling this advance Trend Line Trading Strategy and it is based on:. So lets get started shall we? Wish you all good health. Submitted by Arsalan on October 5, - Submitted by Myronn on October 5, - Submitted by Marius on October 5, - Submitted by Gregg on October 5, - Submitted by Marius on October 6, -
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