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Thread: Double Confirmation trading strategy!

  1. #1
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    Double Confirmation trading strategy!

    This is a strategy created by me. I have named this strategy DOUBLE CONFIRMATION , beacuse we will not just use one analysis, but we will use 2 or more analysis . Like if there is a candlestick pattern formation like doji or pin bar, and there is a near term support/resistance, then this trade would be called Double Confirmed trade!

    I will share charts here, old and new, so that you can get idea what i want to say about .

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    I am very sure that you are very likely to have been a victim of some bad trades in the time past and that is why you have been able to come up with this brilliant thread on why we need to have double confirmation about our trades. This is one of the things that experience has to teach us as traders. Forex is not just a business that we can run anyhow, we have to be very meticulous and calculating in all that we do as forex traders. been very sure of every step we take from time to time.

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  3. #1492
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    I suggest that the means of confirmation of our trade should be used in a more better way, because when we can confirm our trades then we can make good trading decisions. We don't need to be the kind of trader who takes bad trades, so confirmation of our trades, by making use of different time frame to confirm the trend will also be so much important.

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  4. #1493
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    By combining more than one strategy or any tool make the double confirmation strategy and during this way if we learn the best market movements and follow them wisely then i am damn sure we can achieve unlimited success by getting the right track for enter into success so we need to get the double confirmation strategy that is better for all and quick method to get secure earning if we understand it properly .

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  5. #1494
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    Quote Originally Posted by galadiator View Post
    By combining more than one strategy or any tool make the double confirmation strategy and during this way if we learn the best market movements and follow them wisely then i am damn sure we can achieve unlimited success by getting the right track for enter into success so we need to get the double confirmation strategy that is better for all and quick method to get secure earning if we understand it properly .
    It is not so quick we achieve for this reason we have to stayed longer in this market and observe price behavior if we understand that then we use our confirmation strategy based on different technical tool , like we check trend strength and we also check the support and resistance level , if a trader open position on trend so what is the next level of support or resistance which expectedly our stoploss or take price .

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  6. #1495
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    Quote Originally Posted by Makaveli View Post
    I suggest that the means of confirmation of our trade should be used in a more better way, because when we can confirm our trades then we can make good trading decisions. We don't need to be the kind of trader who takes bad trades, so confirmation of our trades, by making use of different time frame to confirm the trend will also be so much important.
    We can act upon double or triple confirmation, the choice is ours but things have to be done on good practice. We have to learn and give our subconscious mind the ability to act without which creativity will not emerge. There will be mistakes and problems in our strategies and trading system which has to be looked upon. The problems should not be allowed to remain long in our trading.

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  7. #1496
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    In forex trading, traders can have as many as possible trading strategies and either of the strategies can confirm one another, so that the trader will be better assured of the signals they are generating with them. No matter how good the trader could be, they need a confirmed trading signals, it will even reduce the chance of losing, and increase management efficiency.

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  8. #1497
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    Double confirmation is necessary in our trading, we must not rush to place our trade, some traders use EA and also the price action together so as to do the double confirmation, so this is good so that we are going to trade and be saved in the market.and great shall be the gain for the trader.for instance seeing a pin bar does not mean we should quickly place trade without waiting for confirmation.

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  9. #1498
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    Double confirmation is very useful when we work with indicators and have many signals that should be verified by other means like price action, support resistance, pivot point, gold movement and so on. Traders should look for their decision confirmation in other parts of market because when there is signal so other instruments feel it too.

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  10. #1499
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    A couple of symptom of market chart confirms us what will be the market direction in the near future and can trade following that. One of them double top or double bottom is the way which by we can take entry confidently to buy or sell and set stop loss just 15 to 25 pips below or high of the current price. All the high and all the low of the market we need to check by long time frame then our entry might be correct and we can able to make a profit what we expect from the market.

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  11. #1500
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    double confirmation strategy is include the more than one indicators or other strategies which could be used in the same timing so i dont very prefer to this concept of trade and i am new in this market so i think when we start to click on the very riskiest methods then we can see the market will be behaved very oppositely to our expectations so i dont think we should use these kinds of methods when we lack good knowledge related to them .

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