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  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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  2. #31
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    Quote Originally Posted by jonking View Post
    well all forex traders need patience to succeed in this forex trading business there is no problem with the length of time the system uses before producing good signals, what is important is if the trading system can produce accurate signals that can give consistent profit.
    Yes, it's okay if the signal is quite accurate but it's not suitable for scalpers who need to make quick decision so maybe double confirmation trading strategy would be better for long-term traders or at least intraday traders who need to wait the best time to open and close position.

    But each trader has his own consideration so I don't say if it's bad to wait longer time but for me, it's harder to wait for double confirmation. Maybe I'm the one who need more patience.

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  3. #32
    Registered user Nizar's Avatar
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    the confirmation is required in all type of strategy for example if you are a technical trader and you only use the chart and its tool for your trading you will have also to have another confirmation to your signals by other means like fundamental means and you should look at market sentiment and make sure it is on your trade direction,so we should always confirm our signals.

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    Bend your view to the charts, not the charts to your view

  4. #33
    Registered user dkarev's Avatar
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    wow! this trend full of information but i dont think this is gonna be easy for newbies,well i ordinary use one trading strategy to trade the market but from what i have read inhere i think it now time i will add another trading pattern to mine trading so that i will always be sure of mine trading analysis.

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  5. #34
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    I think this is interesting strategy for trading we can use many type of analysis and than trade in this market.In this market if we want to get success in this market than we can use these analysis rightly. I think its not very easy to use many analysis and make the right decision.

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  6. #35
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    Using double confirmation strategy will be longer than another strategy because you must wait for another confirmation to make decision. It will need more patience to wait so it's good for swing traders only but it's not suitable for scalpers. Maybe intraday traders can use this too but don't rely on this strategy because intraday traders would open at least one position daily

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  7. #36
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    I could simply tell you that it worth it, what is it that traders can do if they are trading recklessly? when you are confirming the trading skills that you are using, you are leaving no room for more errors in your trading, this is the best way of doing trdaing successfully. As this is, it is using the chart pattern ad the near term repelling force of the support and resistance, a strong break up on down on them will be very strong.

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  8. #37
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    it a pretty good strategy, and i think it has worked for you, i have also seen this movement on charts a lot of times but was never able to get the profits out of that, so i hope that using your strategy i would be able to make some profits for myself and use it again.

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  9. #38
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    I would confirm my trades at high demand and supply areas which means that if we have trendline channel overshoot and then a rally with strong volumes to the upside then i would see a test of that area in three legs and no supply so it would give you three filters if confirmed on the next bar with bullish engulfing whicg means double bottom test and candle confirmtion for entry

    regards

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    Last edited by fxaddictor; 12-20-2013 at 11:17 PM.

  10. #39
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    Your Double Confirmation trading strategy is really helpful if you get your support and resistance clearly. sometimes i try to draw a triangle which makes a area and i think that point indicates me an open order.you can open your trade at the bottom of support i think it is more safe. normally market has tendency to move with the market.

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  11. #40
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    The same strategy daily behind the bars, for example, the use of trade or understanding and win? In summary form the basis of the trade and the second half of the control system,

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