4candle strategy - gbpjpy - Page 2
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Thread: 4candle strategy - gbpjpy

  1. #1
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    4candle strategy - gbpjpy

    Pair : gbpjpy
    time frame to trade: 1-HOUR

    Rules :
    open the 1- hour chart.

    from the 6th hourly candle from the start of the day, till the 9th candle , mark out the high and the low .

    pending order buy should be +1 pips above the high
    pending order sell should be -1 pips below the low.

    stop loss will be :
    1) if buy order triggers then the stop loss will be the low -5 pips.
    2) if sell order triggers then the stop loss will be the high +5pips.

    take profits will be of 1:1 risk reward. for e.g. if the stop loss is 20 pips then take profit will also be 20 pips.

    remember to add spreads in your buy sell pending orders and in your take profits and stop loss.

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    Last edited by pak forex; 12-06-2013 at 09:56 AM. Reason: MAKING THE STRATEGY MORE EFFECTIVE

  2. #11
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    in this strategy is nice and one helpful methods in strategy but as soon as it it trend that is is on and amongsthave had right onto the the day or date of to the accumulation of in which is absorbed supply and the definitive minute We had an bearish trendline breaking

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  3. #12
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    This is just like the other methods that i have seen investors using a large betting technique on the combination sets that are very unpredictable, this will not perform. I have done it many periods, but it will only punch the stop-loss and will keep perform back in the range of selecting, but it will be too delayed by then, just try to discover a maintainable program for operating in currency trading

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  4. #13
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    Trying to gather experience from you thread. It would be appreciated if you could share it with image which could be easy understanding. Forex trading needs endless learning and I am a student of forex at this moment. I try to learn from each and every thread and also try to implement it in my trade.

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  5. #14
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    Quote Originally Posted by pak forex View Post
    stop loss will be :
    1) if buy order triggers then the stop loss will be the low -5 pips.
    2) if sell order triggers then the stop loss will be the high +5pips.
    It will be safer for you to trade if the stoploss is far 20 pips or 50 pips from the lowest trigger,market could fluctuate before it moves to your position,you need preparation for everything here.In trading only well planned strategy will bring satisfaction,and the people who do it will earn from the market.

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  6. #15
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    My dear friends this strategy is fine & one of the useful method in the strategy but when we have trend which is up and in between we had a choppy day or day with accumulation where supply is absorbed and at the final hour we had a downtrendline break.

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  7. #16
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    According to me risk is one of the essential part of our trading and if anybody want to do a very good trading in this market then money management and risk management these both things are very necessary to implement in our trading its not matter which type of strategy you are using risk should be always less.

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  8. #17
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    Risk reward is equal but it can work good if analyse properly even though it is a mechanical system it does need to have logic like you mark the area and then see if candle breakout above or below and then retest should be very important and when retest has enough momentum then you can calcluate risk right above the box you have marked and if the momentum is strong then you easily get 20 30 pips for small stops and it makes some logic of trading such type of trades when there is any opening reversal or test of opening reversal

    regards

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  9. #18
    Registered user Quid's Avatar
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    Quote Originally Posted by ohakaba ikenna View Post
    I totally agree with you on your view, before placing such an entry there are factors that a trader needs to consider before executing such an order, as youhhave said the risk factors are inevitable
    Everything must be good,from the money management,risk factor and the planning must be good.You can win when you have well knowledge of those terms,don't execute an order without having good planning,retest the money management and always know the risk.

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    Finally successful traders

  10. #19
    Trader Hukam's Avatar
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    According to me its very necessary to check with our support and resistance levels and along with it technical analysis knowledge is also very important for a trader and please upload some screenshots about your strategy then everyone will able to know about your strategy along with it check you risk and reward ratio too in every strategy it will be good for you

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  11. #20
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    Yes I am agree with this statement candlestick strategy is best for a trader in this business I am also using only candlestick chart for trading because candlestick chart is much easier to understand I have not much knowledge of differ candles too I have to work with them also.

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