EURCHF — EURCHF 6 trades, 373 pips For the week: EURUSD 208 pips EURCHF 373 pips Total 581 pips (9 trades, 9 winners)

Simple Simon Balance Line Trading

Mocked up charts — This is sort of sickening. I'll post one by one, 4 charts: EURUSD, GBPUSD, GBPJPY, EURCHF This was a bad week for me because I was not at my computer for the better part of the week. But this is pretty indicative of an ...

Simple Simon Balance Line Trading

Heading out — Heading out to the tavern to get a few drinks! Been a crazy week, time to forget about this stuff for the day! Have a great weekend!@

Simple Simon Balance Line Trading

EURCHF Trailing stops — See the attached EURCHF chart. Starting from the 6th of June to the 10th of June there were 6 trades to be had and 6 winners. There are no loosig trades on this chart ANYWHERE. 6 trades + 373 pips I mocked up the chart ...

Simple Simon Balance Line Trading

Steven, The best thing to do is apply "Bill Williams Alligator". Chage the color of red and green lines to "none". If you have any pivot indicators I would also apply them to this chart. Once you have those things in place, go up to the "templates" ...

Simple Simon Balance Line Trading

Codemeister, I downloaded the indicator, applied it to my charts and nothing happened??

Simple Simon Balance Line Trading

Thank you — Codemeister - thank you for contributing. To each his own, I'm not here to convince anyone of this method. I found that posting my trades as they occur helps me keep to the rules and see every trade through from start to finish, ...

Simple Simon Balance Line Trading

I totally agree. I have missed so many trades because I missed the entry signal. If someone can create an alert that would be AWESOME!

Simple Simon Balance Line Trading

Thank you Ferndog, I like simplistic charts. What I like about the Simple Simon method is the reduction in NOISE that other indicators can add. One line and price opens your eyes to the chart! As we move forward, if any of the simple Simon trades ...

Simple Simon Balance Line Trading

Trail stops — Next I will discuss how I trail my stops. This is how I do it. I have no hard and fast rule with regard to trailing. Most of the time how you trail your stops will depend on a few different factors: Market conditions, high or low ...

Simple Simon Balance Line Trading

Refinements — Ok So take at a look at the mock up charts. Bear with me if this post runs long winded, but this is important stuff to note. When you are looking for setups, you want to look for candles that close, really close to the blue line. ...

Simple Simon Balance Line Trading

AUDUSD — So the AUDUSD trade had a profitable outcome. I wish now that I hadn't tightened my stop so much or I would have been much more in profit. 1. First trade triggered at 1.0602. The trade reversed and after further investigation found ...

Simple Simon Balance Line Trading

Nicely done, I did notice that after the first trigger it retraced to touch the balance line and create a very nice bounce signal. So you should have had 2 open sell orders in the NZDUSD. You have pips locked in yet?

Simple Simon Balance Line Trading

For news releases - I generally leave my stops in place if the trade has triggered. I will also tighten the stop if it hasn't gone into profit. If I have a pending order that hasn't triggered yet, I delete them until after the news release.

Simple Simon Balance Line Trading

NZd — NZdusd was an excellent setup, I hope you took it, I missed it, but you would be up about 29 pips right now.

Simple Simon Balance Line Trading

southbeach thank you. Yes you do need a bit of patience. The key for me to be profitable is to WAIT to be triggered into a trade. Who am I to say which way it will go? I set the limit order based on the balance line cross and wait. I can`t tell you ...

Simple Simon Balance Line Trading

OK, So I moved my stop to the next candle. A little premature but I locked in 27 more pips. Now I get the added benefit of justt watching the trade, with absolutely no risk - a little benefit actually! Moved stop to 1.05693 27+24 = 51 pips ...

Simple Simon Balance Line Trading

Heading out for the day — The internet in my room is spotty at best. If I can't post the trade as it progress tonight, I'll capture screen shots and post it tomorrow when I get back to work!

Simple Simon Balance Line Trading

AUDUSD — The good thing about having an add-on trade is the ability to close 1 and move the stop of the remaining to break even. I am now in this trade with no risk and have banked 24 pips! And to think 3 hours ago I was 2 pips from being ...

Simple Simon Balance Line Trading

MOved stop — Moved stop to 1.06209. Minimizing the risk and hoping price will continue southbound!

Simple Simon Balance Line Trading