Double Confirmation trading strategy! - Page 166
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Thread: Double Confirmation trading strategy!

  1. #1651
    Double confirmation strategy mean we use many strategies in this business and all our indicators gives same direction of make a minimum 5 indicators and if 3 indicators gives negative results about trend then you do not select and you also check forecast value of incoming news because new is a big fundamental analysis.

  2. #1652
    Quote Originally Posted by ajagbeolegba View Post
    I thinks that it depends on how the trader has made his training, that is what will suggest what is best to be used by the trader. To trade the market with the good success, traders can use confirmation, they can use one strategy likewise, it depends. I believe that the traders that are trading better are the ones that actually get to choose what they are doing all by themselves, no trader should give that to them.
    So the training has to be undergone seriously before we trade with real money so that we can understand our preferable trading style and acquire a strategy. We have to learn and give our subconscious mind the ability to act without which creativity will not emerge. We can act upon double or triple confirmation, the choice is ours but things have to be done on good practice.

  3. #1653
    Many strategies and indicators could generate false signals during the periods with elevated volatility. Such false signals as false breakouts, for example, could lead to numerous losing trades. If the strategy in general works well, but there are a lot of false signals, the best solution would be to apply additional criteria for entry point confirmation. This could be ether discretional criteria or additional indicator. For example, if you are trading trendline breakouts, you can use moving average to get independent signal (e.g. 9 EMA on 5M chart or 30 EMA on 15 chart). This approach could help to decrease the number of false signals occuring. Another important point is that additional indicator requires backtesting to make sure that changes to the system have positive effect on the performance of the strategy. This could be done using special software like Forex Tester with historical data provided by different brokers. The main advantage of such approach is possibility to conduct several iterations of testing using different values to find one that fits the most. All this could be done just in a few minutes, whiel demo testing would require several weeks of daily trading.
    At the same time, it is necessary to avoid adding too much confirmation rules, othervise trading signals would be too rare, so there would be only a few entry points that fit new requirements. That is why each trader should find the best balance between flexibility and accuracy.

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