trendline break/bounce trade System - 1 to 3 RRR | Forex Factory

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trendline break/bounce trade System - 1 to 3 RRR

  • #1
  • First Post: Edited 6:35am Mar 6, 2014 4:07am | Edited 6:35am
I doing this on a demo- account.

The Idea is to see if RRR is more important then a good S.E.T (Stop loss, Entry. Target)
Of coarse it would be better to have good S.E.T and RRR.

Entry signal after clear full break or bounce of the trend line.
Not looking for a good target or a good Stop loss
- just pip target and Stop - 1 to 3 RRR.

This will lose a lot of trades but will it win pips?
I will be looking at a lot of pairs
- but the entry must be less then 10 pips to get in.

target 306 pips stop loss 98 pips
Will look at charts two times a day.
  • #2
  • Mar 6, 2014 4:10am Mar 6, 2014 4:10am
1st day
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  • #3
  • Mar 6, 2014 4:23am Mar 6, 2014 4:23am
pls explain how to take entry in detail with chart
you are the creator of your own destiny-Shivyog
  • #4
  • Mar 6, 2014 5:07am Mar 6, 2014 5:07am
charts
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  • #5
  • Mar 6, 2014 8:15am Mar 6, 2014 8:15am
Quoting lsolanki
pls explain how to take entry in detail with chart

Ok its Trend line break
I am not trying to get good entries or good exits
so the entry is any
- the most likely one I will use is a candle close beyond the line and then 3 pips beyond that candle
(so I will take a lot of false breaks-out )
  • #6
  • Mar 6, 2014 9:39am Mar 6, 2014 9:39am
Quoting TEB63
I doing this on a demo- account. The Idea is to see if RRR is more important then a good S.E.T (Stop loss, Entry. Target) Of coarse it would be better to have good S.E.T and RRR. Entry signal after clear full break or bounce of the trend line. Not looking for a good target or a good Stop loss - just pip target and Stop - 1 to 3 RRR. This will lose a lot of trades but will it win pips? I will be looking at a lot of pairs -
Quote
but the entry must be less then 10 pips to get in
. target 306 pips stop loss 98 pips Will look at charts two times a day.
What do you mean "less than 10 pips"? relatively to what?
  • #7
  • Mar 6, 2014 10:10am Mar 6, 2014 10:10am
Hi Teb63:

In my humble opinión RRR is more important.
Good S.E.T. is only a dream. Maybe this is one of the reason vast majory traders lose in this game.
Goods setups doesnt exist.
If a trader is looking for a good setup maybe he is in a wrong way.
But even you enter a position based in a perfect setup with predefined and perfect rules and Price go against you........ really you only are defining the time and size of a drawdown. The entry timing only determine time you are in loss.
If you are in the correct direction a bad entry is not important....... except when your leverage is so big.

Regards.
That which you give to others, life will return it in spades
  • #8
  • Mar 6, 2014 5:08pm Mar 6, 2014 5:08pm
Thursday night
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  • #9
  • Mar 6, 2014 5:13pm Mar 6, 2014 5:13pm
Quoting Jaquemate
Hi Teb63: In my humble opinion RRR is more important. Good S.E.T. is only a dream. Maybe this is one of the reason vast majory traders lose in this game. Goods setups doesn't exist. If a trader is looking for a good setup maybe he is in a wrong way. But even you enter a position based in a perfect setup with predefined and perfect rules and Price go against you........ really you only are defining the time and size of a drawdown. The entry timing only determine time you are in loss. If you are in the correct direction a bad entry is not important..........
I agree with you that RRR is more important - that is why I am having fun with is
ie, my eurcad was taken out and reversed I would never have put the stop where I did
I do think set up to happen - but they only increase odds do not guaranty
ie. just put a simple 50sma on a chart and it will increase win rate
just my 2 cents
  • #10
  • Mar 6, 2014 6:51pm Mar 6, 2014 6:51pm
Quoting smilee89
{quote}{quote} What do you mean "less than 10 pips"? relatively to what?
the spread to get in
  • #11
  • Mar 6, 2014 11:20pm Mar 6, 2014 11:20pm
can u please explain your strategy a bit more?
Everyday better.
  • #12
  • Mar 7, 2014 12:21am Mar 7, 2014 12:21am
Quoting TEB63
{quote} the spread to get in
The spread is less than 10 pips for any pair, so why do you mention it?
  • #13
  • Mar 7, 2014 8:00am Mar 7, 2014 8:00am
Quoting smilee89
{quote} The spread is less than 10 pips for any pair, so why do you mention it?
none ... it depends on the pair and the time and who you trade with-
the gbpnzd get up to 60pips on Friday
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  • #14
  • Last Post: Oct 3, 2014 11:33am Oct 3, 2014 11:33am
Hi every one today i am going to shair some knowledge of mine about trend line break falls signal's and entry target.

When you see the trend line is break so wait for minimum 2 candle's for example when you see a candle going to break trend line so just wait for next candle if the next candle is above from trend line on up trend break so take entry if the next current candle is blew than trend line break in down trend so take entry .

Take profit target will be on a doji candle when doji candle appears so wait next candle than if you see the current candle who come after doji is a reversal candle confirmation so close position and take other.

Set stop loss also on previously candle if you take buy position so set stop loss on previously down candle and if you take a sell position so take your stop loss on previously high candle .

I hope my advice help full for all and all my brother's know my language easily. Thanx
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