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Thread: Double Confirmation trading strategy!

  1. #1551
    I personally do have just one way of confirmation of my trades, I could have more than just one, but then again, I think that it is far more better having just one means of confirmation so that you don't get to wait for a long time before taking a trade and then the trade could make it past your entry point and then causing huge stoploss.

  2. #1552
    Quote Originally Posted by sniper007 View Post
    I personally do have just one way of confirmation of my trades, I could have more than just one, but then again, I think that it is far more better having just one means of confirmation so that you don't get to wait for a long time before taking a trade and then the trade could make it past your entry point and then causing huge stoploss.
    What you are doing is a good thing, traders should not have just one way of making their analysis, so that they can use different ways to confirm each other. As good as this way of trading could be, it is still not necessary. The traders that have the strong trading strategy will not bother themselves when the winning percentage of their trading strategy is very strong. Just like the trendline which i use for trading, i do not need other strategies with it.

  3. #1553
    Do what it takes for you to gain good profitable and successful means of trading. Confirmations has to be done often at times so that you don't end in taking bad trades, for instance, there has to be good confirmations to enable you take that trades, when there is no confirmations, note that, you could take the wrong trades whereas leading to your losses.

  4. #1554
    Trader Senorita's Avatar
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    If we can come up with a signal with better confirmation, there is a high probability that we will end up with profits with such system. As a trader we should do better to build a working system that will help us trade for the best. If we can do best to confirm a system, then we can be able to follow such setup and manage this trade in the very best way to trade good. Here it confirmations works and proper trading is something we should work for.

  5. #1555
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    A strategy can be confirmed with more patterns and this will bring about a better probability of such signal for a trader. Confirmation of a strategy is good and surely will bring about the means for us to keep making it in this business. Here good learning is important and its sure the best way to deal with loss perfectly. Good we have a better confirmation and seek in the possibility to make profits from this business.

  6. #1556
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    My first confirmation to taking a trade is the use of the support and resistance levels and then the second one is the use of the candlestick, well, the use of different time frames also do help me in making good confirmations trades before taking action in the market, therefore we have to know that it still gets to depend on how good we are, how we can make solid analysis and all that.


  7. #1557
    Quote Originally Posted by Brain View Post
    My first confirmation to taking a trade is the use of the support and resistance levels and then the second one is the use of the candlestick, well, the use of different time frames also do help me in making good confirmations trades before taking action in the market, therefore we have to know that it still gets to depend on how good we are, how we can make solid analysis and all that.
    It is just a good thing for us to have at least double confirmation with our approach of trading, this will not let us to trade wrongly. There are many trading strategies which we are depending on, but they are too fast in giving us the signals. Some traders will enter the signal given by those strategies, but they will enter the trade when the market is not yet fully set, the trader will now lose. With double confirmation, such will not happen.

  8. #1558
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    Usually market tries a few times to brake the support resistance levels and if trials are not successful so everybody understands it as confirmation and market goes back. It is good to notice such things and make trading decisions accordingly with tight stop losses and good risk reward ratio. Such double confirmation lets traders to open very good positions.

  9. #1559
    There are things that hint traders to take steps in placing orders in the market, but no matter the signal we got , we have to see the confirmation of such signal first before we place any order,successful traders do follow a signal with a lot of confirmation either with time frames , support and resistance or by the use of indicators, trend line or Fibonacci tool.

  10. #1560
    Quote Originally Posted by Toyen View Post
    It is just a good thing for us to have at least double confirmation with our approach of trading, this will not let us to trade wrongly. There are many trading strategies which we are depending on, but they are too fast in giving us the signals. Some traders will enter the signal given by those strategies, but they will enter the trade when the market is not yet fully set, the trader will now lose. With double confirmation, such will not happen.
    It will be better to use the double confirmation trading method, this is the way of using two strategies together, so that they will get to tell traders the stronger trading strategies. I like this for many reasons, i like it for the fact that it will make sure that the forex signals of the trader is well filtered to give traders the better assurance on their trading. This is not what is not common among traders, i use it at times too.

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