Forex Trading System

I think every trader using this trading tools in their trading system. Here I want to discuss about the most basic but the most powerful trading tools that called trend line.

I just want you to know that I have two trading tools. My first trading tools are trend lines, candlestick and chart patterns such as flags, pennants, head and shoulders, double tops, double bottoms, triangles, and others. My secondary trading tools is moving averages, RSI, and MACD.

Trendlines and chart patterns can be made without computer. Just drawing from one point to others and you can make trendlines. Sometimes we draw two trendlines and then make chart pattern. My secondary tools really need computer to make them.

I think although trendline is only straight line but it can be powerful if we can use them. I’ve heard stories about ancient famous traders, what tools do they have? Ok, they drew trendlines to make daily until yearly bar chart and they becomed success traders.

Is there any traders using trendlines? and the answer is, ‘yes.’ At least I am still using that tool. I know trader just use trendlines as his trading system. We called it naked trading. He makes profit and earns money every month.

Trendlines is always be used and can’t be replaced with others. Simplicity is one of reasons why traders love trendlines. I usually use trend line to determine the trend.

The weakness of trendlines is drawing trendlines is subjective. You can draw trendlines wherever you like. Drawing trendlines is more an art than science. Basically, when trend line is touched many times, it can be valid and powerful trend line. When prices break trend line no more than 50% of his body and shadow, I’ll wait for confirmation that trend line is broken out or not. But if prices make big moves more than 50% to break out, I will enter to the market without need confirmation.

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