My Stretigy # 2
Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: My Stretigy # 2

  1. #1
    Trader mexima's Avatar
    Join Date
    Sep 2018
    Posts
    906
    Promo (¢)
    4,395
    Thumbs Up
    Received: 12
    Given: 42

    My Stretigy # 2

    hello guys hope you are fine and making good profit in the forex trading .
    i will show my second stretchy which i mostly use after the support and the resistance stretchy .

    i) this stretchy is based on candle pattern .
    ii) you can use H4 chart D1 chart and H1 chart .
    iii) this stretchy will be based on DOJI candle .

    9iYtaab.jpg

    now see in the image i have mention some example of DOJI candle and you will notice that candles have
    small volume of bar and these candle are small as well

    so you have to take entry where market volume closes if market volume has closes point on bullish volume then take buy entry
    if it have bearish volume than take sell entry and set the sl of d1 lowers point but with proper money management.

    example of Entries

    wbvXaab.jpg

    Not allowed!

  2. #2
    Registered user
    Join Date
    Aug 2013
    Posts
    11,175
    Promo (¢)
    3,000
    Thumbs Up
    Received: 66
    Given: 48
    trading with candle patterns is good and profitable because it depends on good method of trading because candlesticks are strong for trading and making of money and the trader that master it will be able to make good profits and will decrease the risk and the stop loss will be tight and so the possibility of loses will be less also for the trader.

    Not allowed!

  3. #3
    Registered user
    Join Date
    Jul 2017
    Posts
    3,611
    Promo (¢)
    8,505
    Thumbs Up
    Received: 13
    Given: 1
    Doji candlestick trading is very common, as I have always seen only, this strategy works more with the bigger time frame, you cannot be expecting profitable signal that will come through one minute time frame, the daily is best, price must have trend for a long time before we can conclude that the doji that has appeared is valid, also there should be at least a support or resistance to further act as confirmation that the trade is very valid.

    Not allowed!

  4. #4
    Trader mexima's Avatar
    Join Date
    Sep 2018
    Posts
    906
    Promo (¢)
    4,395
    Thumbs Up
    Received: 12
    Given: 42
    Quote Originally Posted by simisola View Post
    Doji candlestick trading is very common, as I have always seen only, this strategy works more with the bigger time frame, you cannot be expecting profitable signal that will come through one minute time frame, the daily is best, price must have trend for a long time before we can conclude that the doji that has appeared is valid, also there should be at least a support or resistance to further act as confirmation that the trade is very valid.
    yes i have mentioned that time frame should be best for h4 and d1 how ever doji in the weekly chart occur very less how ever h1 is good for short term trading but that would be risky if doji candle will be occur but h4 is best and d1 is recommended but candlestick pattern always give profit because every candle give the signal of trading.

    Not allowed!

  5. #5
    Registered user
    Join Date
    Jul 2017
    Posts
    8,107
    Promo (¢)
    10,402
    Thumbs Up
    Received: 29
    Given: 22
    Trading the doji candlestick under any kind of time frame to me is too risky because in the first place, the doji is not a trad-able candlestick since it is often regarded as an indecision candlestick which always signify an equality among the buyers and the sellers in the market . Trading the market at this time when there buyers and the sellers are having equal strength is lie taking a risk that can land us into the trouble water of the forex market.

    Not allowed!

  6. #6
    Registered user ara's Avatar
    Join Date
    Dec 2013
    Posts
    1,836
    Promo (¢)
    2,595
    Thumbs Up
    Received: 105
    Given: 184
    I really like this strategy, it will be very effective to make profit consistently if we know the daily consolidation phase in the market. I also often use this simple strategy for swing trading, but I choose to use stop orders instead of liimit orders. We only need to use this strategy in the consolidation phase. Taking reversal candlestick (doji) as confirmation signal is a good idea from the thread strater.

    Not allowed!

  7. #7
    Trader mexima's Avatar
    Join Date
    Sep 2018
    Posts
    906
    Promo (¢)
    4,395
    Thumbs Up
    Received: 12
    Given: 42
    Quote Originally Posted by ara View Post
    I really like this strategy, it will be very effective to make profit consistently if we know the daily consolidation phase in the market. I also often use this simple strategy for swing trading, but I choose to use stop orders instead of liimit orders. We only need to use this strategy in the consolidation phase. Taking reversal candlestick (doji) as confirmation signal is a good idea from the thread strater.
    yeah thanks for the appreciation how ever the pending limit which is putted in the attachment was not according to the strategy that was based on support and resistance which is my strategy number one how ever consolidation mode is also called range and market usually made long candle after break out but doji candle means the pressure of buyer in buy trend and seller in sell trend come to an end and now the market will about to change the trend .

    Not allowed!

  8. #8
    Registered user
    Join Date
    Jul 2017
    Posts
    3,611
    Promo (¢)
    8,505
    Thumbs Up
    Received: 13
    Given: 1
    Doji is judged as very profitable by many price action traders that are using it, to help us trade this better without missing some of the pattern, we can download a trading software that could easily recognise this pattern automatically, that should remove the stress we face in searching the charts manually to get them, an expert advisor makes this easy.

    Not allowed!

  9. #9
    Trader mexima's Avatar
    Join Date
    Sep 2018
    Posts
    906
    Promo (¢)
    4,395
    Thumbs Up
    Received: 12
    Given: 42
    Quote Originally Posted by simisola View Post
    Doji is judged as very profitable by many price action traders that are using it, to help us trade this better without missing some of the pattern, we can download a trading software that could easily recognise this pattern automatically, that should remove the stress we face in searching the charts manually to get them, an expert advisor makes this easy.
    hello there doji is not the price action trading it is the part of candlestick pattern and i never recommend any one to use any software or indicator to recognize any doji candle because the professional way to trade on the forex market is to trade on nude chart so just practice on demo account and the start making money.

    Not allowed!

  10. #10
    Registered user
    Join Date
    Aug 2013
    Posts
    11,175
    Promo (¢)
    3,000
    Thumbs Up
    Received: 66
    Given: 48
    Doji on the daily and H4 time frame is good and profitable and so the trader will be able to make good trading and so he will be able to make good money from the market, the trader needs to be patient and wait to see where the market will go after doji so he can get good confirmation and then he can open positions and make money

    Not allowed!

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •