Double Confirmation trading strategy! - Page 51
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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. #501
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    If we can understand more then 2 or more indicator then it is good but if we are not allowed or not have enough knowledge then i think we should avoid such strategy because may be both indicator confuse us ,every indicator have different base for using so we have different results for better results i think it is good if we are using single and perfectly managed indicator.

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  3. #502
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    Quote Originally Posted by naeem555 View Post
    we should use all ways for confirmation of market because our order depend on our analysis, so don't try to trade without analysis your analysis is most important here, if you do not have clear analysis can not earn, so use all ways of analysis then we can confirm something about market and can earn also
    It is good to know that it will be better when traders are making what they are doing in the simple way, if not, they will think they are doing themselves the good, but they are actually doing the bad. It is good to limit the level of what you will use to confirm one another, so that you are not trapped by the confusion they can cause in your trading.

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  4. #503
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    Quote Originally Posted by naeem555 View Post
    we should use all ways for confirmation of market because our order depend on our analysis, so don't try to trade without analysis your analysis is most important here, if you do not have clear analysis can not earn, so use all ways of analysis then we can confirm something about market and can earn also
    It is a very nice thing if traders are confirming what they are doing, it is just the means to show that what traders are doing are such that are perfect enough to help their trading purpose. If traders are not confirming what they are doing, this might affect them greatly, and money might be lost. If they did, things will become clearer for them.

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  5. #504
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    It will be really wise for any trader to make sure that good analysis has been conducted before trading. The reason why a lot of people have been losing their money is simply because they don't know how to wait and confirm a trading order before taking trades. Traders ultimately should not be a in a hurry to open trades, they need to wait and confirm the market movement.

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    Quote Originally Posted by Queen-of-the-coastFX View Post
    It will be really wise for any trader to make sure that good analysis has been conducted before trading. The reason why a lot of people have been losing their money is simply because they don't know how to wait and confirm a trading order before taking trades. Traders ultimately should not be a in a hurry to open trades, they need to wait and confirm the market movement.
    Some times you could be doing the wrong thing when you keep on waiting for double confirmation because then you could be making a mistake like entering on a trade when it is late whereas you are to take the trade on time. So that way it is evidently needed that you take the trade at the right time price.

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  7. #506
    Registered user YoyO_o's Avatar
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    if we are trading with the analysis, dont using any trading strategy, dont have the trading plan then hoping will not work. in the forex trading need the combination of strategy, a good plan and analysis method to success and if a trader within the forex will operate while not emotion, it might not be successful with success

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    Registered user musiliu's Avatar
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    Using to different analysis to confirm a direction is a nice way to have a more profitable trading setup, but you should be very sure the two strategies are not too related, so that the will not just be saying the same thing all the time, if the show different setup at a time, it means you will avoid trading in any direction and only trade when the show the same setup

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    Always have realistic DREAMS!

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    Quote Originally Posted by musiliu View Post
    Using to different analysis to confirm a direction is a nice way to have a more profitable trading setup, but you should be very sure the two strategies are not too related, so that the will not just be saying the same thing all the time, if the show different setup at a time, it means you will avoid trading in any direction and only trade when the show the same setup
    I will instead make use of my trading strategy to confirm the movement of the market instead of trying to do that with the help of a different strategy, it could get all confusing and then make me loss my money, but since I don't want to loss my money I have to believe in my strategy and take the trade on the first confirmation.

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    Quote Originally Posted by cozard007 View Post
    It is a very nice thing if traders are confirming what they are doing, it is just the means to show that what traders are doing are such that are perfect enough to help their trading purpose. If traders are not confirming what they are doing, this might affect them greatly, and money might be lost. If they did, things will become clearer for them.
    Know the direction of the market and even for a trend trading , you have to make sure that you are able to confirm it so that you can make money safely. Trading is not something you will have to rush because being in a rush to make money from the business has been the one reason why a lot has been losing their money, so it is quite important to have good confirmation first.

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  11. #510
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    Quote Originally Posted by Queen-of-the-coastFX View Post
    Know the direction of the market and even for a trend trading , you have to make sure that you are able to confirm it so that you can make money safely. Trading is not something you will have to rush because being in a rush to make money from the business has been the one reason why a lot has been losing their money, so it is quite important to have good confirmation first.
    It is better to use that confirmation to trade, this is the way to make the clearer decision for traders, and i what we will do after that will not be a hard thing anymore. One more advantage of this is the fact that traders will always be handing the market in more safer ways, and the winning percentage will truly be strong enough to make them happy.

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