trading system?

TrueTL indicators are not complete trading systems. In addition, a simple and profitable complete trading system or a good BUY/SELL/EXIT indicator which developed by someone for you, does not exist, because the trading is an individual and personal thing. So, nobody can tell you in few sentence how to trade or which decision is “right or wrong”. You can find many ideas on many site, but you have to develop your own complete personality, and your unique trading style. You have to know how to use the basic tools (trendlines, levels, candle patterns, etc.), and you have to build your own strategy with filters, confirmations, and money management. In itself, an indicator can't decide instead of you, but our indicators are most similar to the professional trader's analysis.

OUR INDICATORS:
  • help to understand the chart for the beginners
  • help to make decisions more quickly - it’s important if you are trading on lower timeframe
  • decrease the mistake's possibility - when we don't see a higher tf's trendline, or a trend started earlier than it appears on our screen, etc.
  • save time and more comfortable to trade with

Here we want to create a compact page, where the beginners can read only the useful, choosy and basically required things about forex trading, not about the dead end. The content is expanding continuously, so it's worth to visit again.

ABOUT THE TRENDLINE

The trendline is a straight line that connects two or more price points or peaks and bottoms. This line facilitates the definition of trend direction, and in the future this line will behave as support or resistance. The more touches a trendline has, the more accurate it is, and the price action will be stronger.

THE MOST IMPORTANT FORMATIONS: 
  • Break
  • Break with backtest
  • When the price is turn around from the trendline (bounce)

We can use the trendlines for many things. In most case the simple breakout on a shorter trendline (of course with some filtering) is maybe enough for entry. But the longer trendlines (so the higher timeframe's trendlines) require the backtest for confirmation after breakout, or we can use them for turn around. Furthermore the trendlines are good for price targeting or a Stop Loss place also.
Trendlin Formations
Trendlines and formations

ABOUT the DIVERGENCE

We can talk about divergence when the oscillator's peak or bottom (such as RSI or CCI) cannot follow the price's peak or bottom. The divergence is a famous tool for traders, because it can forecast earlier the reversal moving, and it's able to trade with very small size of Stop Loss distance. But at the same time it can be dangerous, if we don't use a strong filtering method, such as:
  • Entry in the trend direction
  • Entry at pivot points, current or previous daily high/low, or other strong levels
  • Entry if the nearest peak/bottom's price or candle body is not too close
  • Entry when the price moves below/above the trigger (arrowed) candle's high/low

4 TYPE OF DIVERGENCE:
  • Bullish Regular Divergence
  • Bullish Hidden Divergence
  • Bearish Regular Divergence
  • Bearish Hidden Divergence
Divergence Type
Divergence types

TRENDLINE STRATEGY EXAMPLE

If you are a beginner trader, in this video we might can help you how to start the development, how can you think with TrueTL. The development and testing of your strategy is a long and hard work. We're just showing a possible way to begin, but you can find lot of other methods, it's up to you. 

SOME OTHER RESOURCES:

our strategies

We’re trading on the forex market since 2008, so we believe only in the traditional tools: peak/bottom analysis, S/R levels, candlestick patterns, trendlines, etc. We’ve seen a lot of seemingly simple strategy, magic indicators, promising robots, but we’ve never seen anyone who could earn money with them in a long term. You can find many description of strategies on many sites but the forex trading more complexed than some rules. In itself a "Simple London Breakout Strategy" or an "EMA Cross Strategy" with few rules can't be profitable in a long term, because they are not including some indescribable things (economy, "chart beauty", risk management, etc). These things can rewrite our basic rules sometimes, thats why it's impossible to write all of them, but we can share some of our rules to give you some ideas for your strategy development.

SOME COMMON BASIC RULES:
  • We always use Stop Loss (SL) on the previous peak/bottom level (accurately above/below with 2-3 pips that prevent the "Stop Hunting"), and pulling it when the position goes towards to the "good direction" and the price make a new high/low.
  • We always check the possible target price and in the most of cases we are placing Take Profit (TP). For example it can be a next trendline, or previous peak / bottom or EMA 200 or a very strong (more than 3 touches) level.
  • If the SL distance (risk) is much more than the TP distance (reward) from the entry price, then we don't enter. This is the Risk/Reward examination (in the future we will explain this important thing)
  • The equity's risk is always max. 1% per trade. For example if an account's equity is 10.000$ then we want to risk maximum 100$. So if the Stop Loss distance is 20 pips from the entry price on EURUSD than we open the position with 0.5 lot, but if the distance is 40 pips than 0.25 lot - 0.5 lot X 20 pips = 100$ and 0.25 lot X 40 pips = 100$ on USD ending instruments and USD account.
  • We are not affraid from the low/middle impact economy news release, because our systems are not sensitive for the "little confused" price moving (because the entry is strong, and the SL-TP place are good). But before a high impact news we might not enter to a position, or we close them if they running.

Our straTegy #1

  • Timeframe: M15 or H1, but good on any other timeframes.
  • Instruments: EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY, USDJPY, AUDCAD, AUDJPY, CADJPY, but good for any forex pair, cfd, stocks.
  • Main trigger: entry if the actual timeframe's trendline is broken, and the next trendline is not too close
  • Entry mode: pending-order or manually enter when the breakout candle is closed. The entry price is below/above with 2-3 pips from the trigger candle's high/low for the confirmation.
  • Trend determination: observing the place of multi timeframe 200 EMA (M1, M5, M15, H1). If the main TF's EMA is above, then we are looking for short entry only, when the EMA is below, we are looking for long. The other TF's EMAs are only the confirmation: if too close to the entry price, then we don't enter.

OUR STRATEGY #2

  • Timeframe: M5 with H1 trendlines, but good on any other timeframes with the higher timeframe's trendline.
  • Instruments: EURUSD, GBPUSD, XAUUSD, EURJPY, USDJPY, but good for any forex pair, cfd, stocks.
  • Main trigger: entry if a 2 or more touches S/R level or a double top/bottom's neckline is broken (we're drawing by handle but TrueTL will contains this function)
  • Entry mode: usually entry when the break candle is closed, but sometimes we are waiting while the price backtest the broken level
  • Trend determination: in this strategy we don't use any other method because if a strong S/R levels is broken, and the trendlines are good, than the actual timeframe's trend direction is reversed for us.
IF YOU HAVE A TRADING STYLE WHAT YOU LIKE TO SHARE WITH THE PUBLIC THAN SUBMIT YOUR STRATEGY:
SUBMIT YOUR STRATEGY