Two trendlines, ultimate reward | Page 11 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How do I change the color of trendlines? 2 replies

What's your TP? Fixed reward vs dynamic reward 5 replies

Ultimate Risk/Reward 0 replies

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Recommend an ebook on trendlines.... 10 replies

Attachments: Two trendlines, ultimate reward
Exit Attachments

Two trendlines, ultimate reward

  • #201
  • Feb 25, 2016 7:27am Feb 25, 2016 7:27am
Hi LL, i hope my homework is fine!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audjpy.png Size: 40 KB
Click to Enlarge Name: audjpy2.png Size: 38 KB
Click to Enlarge Name: audnzd.png Size: 30 KB
Click to Enlarge Name: eurjpy.png Size: 36 KB
Click to Enlarge Name: eurusd.png Size: 35 KB
Click to Enlarge Name: gbpaud.png Size: 36 KB
Click to Enlarge Name: gbpaud2.png Size: 48 KB
  • #202
  • Feb 25, 2016 7:35am Feb 25, 2016 7:35am
Quoting sylbolid
Hi LL, i hope my homework is fine! {image} {image} {image} {image} {image} {image} {image}
Well done S

All perfectly good examples....now ya gotta admit that is a piece of cake or what lol....and no reason at all why no one else can set up exactly as you have ably demonstrated...good stuff mate.

LL
  • #203
  • Feb 25, 2016 7:37am Feb 25, 2016 7:37am
Quoting Landline
{quote} Well done S All perfectly good examples....now ya gotta admit that is a piece of cake or what lol....and no reason at all why no one else can set up exactly as you have ably demonstrated...good stuff mate. LL
Thanks LL, when you want you can continue to tell us more about your strategy!
  • #204
  • Feb 25, 2016 7:44am Feb 25, 2016 7:44am
Quoting sylbolid
{quote} Thanks LL, when you want you can continue to tell us more about your strategy!
What else is there to tell, you have nailed the principle now for this particular strategy....the rest comes down to an individuals stops, t/ps and general management of any given trade.

One thing I would stress however, is ensure you allow enough slack on the trade to gain traction in your desired direction, because that doesn't always occur immediately, and that I suppose is really the main skill required with this approach.

But hopefully others can now start seeing the potential of t/ls used in this alternative fashion with a bit of luck.

LL
  • #205
  • Feb 25, 2016 7:52am Feb 25, 2016 7:52am
Quoting Landline
{quote} What else is there to tell, you have nailed the principle now for this particular strategy....the rest comes down to an individuals stops, t/ps and general management of any given trade. One thing I would stress however, is ensure you allow enough slack on the trade to gain traction in your desired direction, because that doesn't always occur immediately, and that I suppose is really the main skill required with this approach. But hopefully others can now start seeing the potential of t/ls used in this alternative fashion with a bit of luck....
Ok! To open a trade, Do you wait until the "candle" closes beyond the tl? What is usually your RR? Do you use trail stop, do you go at BE when you rich a certain point? Do you filter your entry with multi time frame analisys, horizontal level, "normal" trendline, etc...? Since the semaphor you upload doesn't work in my chart (it make my chart freezy), what can i use instead of it (rsi 14 period? cci 14 period?)
Some other your charts, maybe even in real time would be a great support!

Thanks for now!
  • #206
  • Feb 25, 2016 7:52am Feb 25, 2016 7:52am
If anyone else has charts to post btw then go ahead let's have a look and I'll comment on them if you like.

ps...I hope I'm not corrupting Daniels thread btw

Let me know Dan

Cheers

LL
  • #207
  • Feb 25, 2016 8:04am Feb 25, 2016 8:04am
Quoting sylbolid
{quote} Ok! To open a trade, Do you wait until the "candle" closes beyond the tl? What is usually your RR? Do you use trail stop, do you go at BE when you rich a certain point? Do you filter your entry with multi time frame analisys, horizontal level, "normal" trendline, etc...? Since the semaphor you upload doesn't work in my chart (it make my chart freezy), what can i use instead of it (rsi 14 period? cci 14 period?) Some other your charts, maybe even in real time would be a great support! Thanks for now!
Anything better than 1:1 is a good return as far as I am concerned, but I often open 3 positions at the same time, and yes I move my stops when tp1 has been reached to look for a freebie on the remaining 2 positions.

I am always aware of what higher t/fs are doing, and that gives me a sense of whether I need to pull in the reins a bit in terms of t/ps and stops, but trend for me is a very debateable subject and what I may perceive as a trend may not be seen the same for others.

Google is a great source to find alternatives to semaphor....I don't have any recommendation as an alternative to what I use, but I'm certain there are dozens of alternatives and probably better than semaphor no doubt.

That loosely answered most of your questions....but to give you the rest of my 10 years experience will need a book lol

LL
  • #208
  • Feb 25, 2016 8:52am Feb 25, 2016 8:52am
Quoting Landline
{quote} Anything better than 1:1 is a good return as far as I am concerned, but I often open 3 positions at the same time, and yes I move my stops when tp1 has been reached to look for a freebie on the remaining 2 positions. I am always aware of what higher t/fs are doing, and that gives me a sense of whether I need to pull in the reins a bit in terms of t/ps and stops, but trend for me is a very debateable subject and what I may perceive as a trend may not be seen the same for others. Google is a great source to find alternatives to semaphor....I...
Hi LL, I believe you, so this strategy is the one you use mostly of the time I guess...? I will try it! You use also smaller time frame?Thank!
  • #209
  • Feb 25, 2016 8:54am Feb 25, 2016 8:54am
Quoting Landline
If anyone else has charts to post btw then go ahead let's have a look and I'll comment on them if you like. ps...I hope I'm not corrupting Daniels thread btw Let me know Dan Cheers LL

Hi LL,
I am absolutely OK
Please, continue
I am sorry, I have a litlle bit less time in these days.
  • #210
  • Feb 25, 2016 9:53am Feb 25, 2016 9:53am
Quoting sylbolid
{quote} Hi LL, I believe you, so this strategy is the one you use mostly of the time I guess...? I will try it! You use also smaller time frame?Thank!
Any t/f will work, just be aware of what htfs are doing though to keep your t/ps and stops realistic with regards to the broader picture.

The method I have laid out here is in it's simplest form and effective. I use it as it stands as well as using t/ls to confirm other methods I use, and nearly always use t/ls to give me a heads up when something is about to turn.

As Dan has alluded to in the title....t/ls if identified and used correctly are imo hard to beat, but the key of course to increasing your chances of success is identifying them correctly, and that is the purpose of Dans thread really no matter which way t/l identification is determined.

LL
  • #211
  • Feb 25, 2016 10:30am Feb 25, 2016 10:30am
Regarding an entry.

Let's say we have our t/l in place and we have our green line crossed for a buy, and we have our green square all in place.

Let's assume also for the purposes of this post that the intended direction to place the trade also conforms to the next htf.

Ok, that's great, everything looks good and we can pull the trigger and when we do....bam...what happens....yep you guessed it, the trade almost immediately decides to go against us......it happens to me about 9/10 and I guess it happens to everyone else too.

Obviously the algorithms of the broker kick in the moment we enter a trade (although I doubt they'd admit it somehow lol). We might get lucky for a few pips and think to ourselves a perfect entry, only to find shortly afterwards that it takes a dramatic turn against us, when all the t/ls and signals were somehow favourable enough to take the trade on

I'm sure we've all seen that time and again.

For me, I know that happens too often to be anything other than broker tricks it's as simple as that in my book. So, not only do we need to be aware of a t/l entry, we also need to be aware of 'tricks' of the broker trade', and what I tend to do is anticipate that trick and place the smallest trade only and let the broker play his game.

If price does indeed move unfavourably on that tiny trade then minimal damage is done, and I can now ready myself for my real entry perhaps 20 or 30 pips later, perhaps not at all if it's a drastic move and my original t/l signal has become invalidated.

On the other hand, if that tiny trade moves favourably, then I'm anticipating sooner or later (usually sooner!) that it could fold on me twice as fast.

This all means that when trading the small t/fs in particular (anything sub h1) then this effect I've described is felt more because the brokers know your stops can be easily taken out.

None of this is easy to factor in when we trade on lower t/fs and smaller stops and many will say I'm talking rubbish...but it is better to be aware of these possibilities, because I don't know about the rest of you, but personally I don't believe in 9/10 coincidences of trades directly running against me!

Take it or leave it guys...I'm just saying

LL
  • #212
  • Feb 26, 2016 3:50am Feb 26, 2016 3:50am
hi LL
can you please attach tempelt ?
thanx
  • #213
  • Feb 26, 2016 4:02am Feb 26, 2016 4:02am
Quoting endof.forex
hi LL can you please attach tempelt ? thanx
Hi E

No

LL
  • #214
  • Feb 26, 2016 5:25am Feb 26, 2016 5:25am
looking at your trades and the way you have traded so far, loved it. Keep rocking my friend. Subscribed
Precise Execution!
  • #215
  • Feb 26, 2016 6:31am Feb 26, 2016 6:31am
Hi all

Ok, let's talk a little bit more with some images to further define entries and also an exit for this exersise.

This trade was on AN, and the first thing I did was to define my hidden t/l points ref the dotted lines as usual against the H4 t/f in this case.

I saw two big solid squares from which I knew I could strike my hidden t/ls from as shown in 1st image and allow me to make a confident decision on what to do next, and in this case I decided to set 3 pending short orders (which didn't trigger as it happens), I also decided a little later to take a single market order at a smaller position, and I exited that trade about 30 minutes ago. Study that and look closely where I took my 2 points from, because as I said right at the beginning, that is the crux of the method I apply for this strategy.

The second image shows the details on the H1 chart of the same trade, and it is from this one that I chose to exit ref A) 2 big squares
B) downwards sloping t/l C) t/l breaking green line.

Over 60 pips profit on this single small position netted, and the 3 pending shorts cancelled, and I'm now considering a long entry prior to NY.

Hopefully that gives you all some insight into my approach and thinking when applying this technique.

PS...ignore the smaller solid squares on my chart and focus on the just the big squares, (I use them in further assessment personally but not absolutely necessary for now).

LL

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH4.png Size: 30 KB


Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZDH1.png Size: 32 KB
  • #216
  • Feb 26, 2016 6:49am Feb 26, 2016 6:49am
Another straightforward example on EA H4...in progress still and exactly the same procedure as described previously, but in this case the pending orders did trigger as well as the small market order

LL

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH4.png Size: 34 KB
  • #217
  • Feb 26, 2016 6:51am Feb 26, 2016 6:51am
Pretty simple I think you'll agree albeit pretty unusual

LL
  • #218
  • Feb 26, 2016 7:14am Feb 26, 2016 7:14am
As you can probably tell, I'm not a big believer in making anything complicated more than it needs to be to get the job done.

The basic principles of common sense and using the price to guide us effectively are all that's required for me, and the way I trade I try to scoop all the things I need such as ob/os, trend, pa etc into a neat tidy package which covers the things that help decision making BUT....simply, and those things are always at the forefront of any strategy I use.

LL
  • #219
  • Feb 26, 2016 8:04am Feb 26, 2016 8:04am
I'm fascinated by trend lines and I'm looking forward to learning more by reading this thread. At the moment I have little experience or knowledge.

I drew these lines on the 4 hour Eur/Usd chart. Could someone look at this chart and comment? There seems to be a confluence of 3 trend lines. I honestly don't know how to interpret this.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd160226h4.JPG Size: 96 KB
Gone to a better place
  • #220
  • Feb 26, 2016 8:27am Feb 26, 2016 8:27am
Hello nice thread , congrats for hard work

I tried to make some patterns .

If anyone has curiosity in this stuff .

Post 524

Post 281

Sucess.

All good.

Cheers

Kobol
0 traders viewing now