Tag Archives: trendline

Trendline Trader EA For Part Time Traders Become Fully Committed Forex Traders

Trendline trader makes trendlines you draw on the chart alot more useful than just a visual tool by itself. Trendlines are not indicators but simple lines you draw up on your currency chart to help with forex technical analysis. When you draw trend lines, you are providing yourself a visual picture of where is the current market and where will it be heading next. And this serves as a mental note assuring yourself that you are aware of where the trend is coming from and that you are also willing to follow it where ever it chooses to go next.

What is Trendline Trader

“Trendline Trader” as the name connotes speaks for itself. It helps a trader to identity possible pullbacks on both resistance and support levels, for the purpose of making sound trading decisions. Many technical chart patterns require that trade entry and exit be executed on these specially drawn trendlines. There are two ways at which the forex trader can choose to trade with these trendlines.

The first way is trading via breakout strategy with technical chart patterns. When price breaks through the trendline, a trade intended on the breakout direction can then be entered according to the trader’s trading system. This particular style of breakout trading can easily be found in many trading systems that trade flags, pennants, head and shoulder patterns, symmetrical triangles, descending or ascending triangles or simply a channel or envelope. Break-through of trendline is an important entry signal for many traders trading technical chart patterns.

The second way of trading with these specially drawn trendlines is trading on reject. When price touches or breaks through the trendline, trade entry will be entered in anticipation that price will meet great resistance or support and will revert back to its ranging levels. Thereby, the word trading on reject anticipates that price will revert to its ranging mode and you are fading a breakout. This style of trading is usually called fading the breakout. Or if it’s in the form of trend trading, as price approached support or resistance level, you are anticipating that it will bounce off the trendline like a ball bounces off the ground and ceiling trading in a channel.

Trendline Trader is Both Useful in Breakout and Ranging Markets

Trading on breakout and on reject can now be made automated in mt4. You can find most auto trendline trader on the forex community. And you can give the free ones a try as they contain the most basic functions of an auto trendline trader EA. Now, a trade entry or exit can be pre-specified by the forex trader simply by attaching the trendline trader to the respective currency chart and draw lines manually on the chart. Next, simply add in a buy or sell on the trendline description box to instruct the trendline trader EA to perform trade execution to your liking.

Trendline Trader Summary

Forex traders can tap on the auto trendline trader software to execute forex trades while they do other work. Forex trading is not an easy work for most part-time traders in the past. They need to monitor the market for potential signals and then manage the ongoing trade until it is finally exited. Most of these tasks are no longer relevant if the forex trader utilize trendline trader as their trading tool.

Trendline Alert EA – A Timely Intervention Software For Smart Investors

Forex trading can be very risky business if investments are made in a haphazard fashion, without proper study of the market situations and learning trade strategies. Being able to predict the ups and downs in the prices of Forex entities is a tough task since the prices are subject to fluctuations even on slight provocation. Investing in Forex market is not risk-free, owing to the dangerous price swings in the market scenario.

To reduce the risks of incurring a loss, a trader should be alert and has to continuously, monitor the trading scenario. It is important that a trader understand the technicalities and jargons involved in the trading market to avoid confusion and monetary losses. A trader can also consider taking a course in trading basics via online tutorials. A trader, not only, has to monitor the changing trend of the market but also the political, economic and social situations all over the world.

However, even after taking all precaution, it is still possible that a trader loses his money by not monitoring the market continuously. However, it is also stands to reason that a trader cannot monitor the market 24 hours a day. Minor stray in concentration can make a trader incur losses. Therefore, it has to kept in mind that forex trading is always risky.

In order to overcome such limitations and negligence, softwares such as Trendline Alert EA, have been developed. These softwares are active even when the trader is not. They keep a watch on the markets continuously and provide intimations to the trader whenever there is an upswing or downswing in the currency or commodity prices.

Investors can benefit a great deal through the use of these softwares. Firstly, they protect the trader from incurring heavy losses by providing timely intimations. In addition, you can increase your profits because softwares also intimate when the prices are riding high. Selling stock at such high prices can make lots of profits for the trader.

These softwares study the high and low limit of trading prices, which have to demarcated using trendlines by the trader. As the software reads the prices approaching the demarcated lines, they send signals to the trader through sound alerts, sounds or voice messages.

For making the software work, the trader has to first draw demarcation lines using softwares like Metatrader 4. These trendlines drawn on the trading sheets indicate the highest and lowest limits, above and below which, a trader wishes to dispose off the stock that he holds. When the Trendline Alert EA reads the values of the prices and notices them crossing the trendline, it gives out an indication to the trader, thus alerting him to either buy or sell stock. The indication is initially by changing line colors and then the sound signal.

These user friendly softwares do not cause confusion to the trader and help in guiding the trader in making timely investments so as to increase profits. As such, trendline Alert EA could well be the defining difference between a well informed trade and one that has lot of emotional attachment and hence prone to losses.

EURUSD: The 1.4782/1.4625 Levels Keep MT Bias Higher

Even though EUR put in a negative performance the past week following its failure at the 1.5014 level, its Nov 16’09 high and its subsequent weakness, as long as its current setback maintains above the 1.4782 level, its MT rising trendline and its Nov 03’09 low at 1.4625, we look…