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Thread: Simple But Very Effective Strategy [Contest]

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    Simple But Very Effective Strategy [Contest]

    Account number: 2186939
    Investor password: N2BdCc
    Server: Roboforex demo
    Type: Support And Resistance Levels with stochastic oscillator
    Working Timeframe: H4,Daily And Weekly
    Currency pairs: All Currency Pairs

    Description:

    Support and resistance are those level where market shows rejection more than one time,more rejection from same level will make that level more strong.i uses stochastic oscillator with setting of (12,3,3)..In this strategy i just watch support and resistance levels of any currency pair in which i want to trade with a stochastic oscillator cross gives information about market over bought or over sold condition,i mostly analyze bullish and bearish reversal patterns at theses levels,Higher time frame gives accurate results than lower Timeframe that's why i uses H4 Timeframe or above for my trades..Check this




    You can see that market shows rejection from support and resistance level and stochastic oscillator cross in over bought and over sold area gives confirmation of that signal..

    Entry point..i try to enter 2 times,"first "close price of that day Candle like in first case 1.38706 should be first entry and then 40-50% of high/low of that day Candle like 1.39050..

    Stop Loss...stop loss should be 10-15 pips above or below of that day candle..

    Take Profit...Take profit must be equal to stop loss or more and until stochastic oscillator not reach over bought level,like if i risk 40 pips than my first profit target will be 40 pips and then move on to get 1:3 risk rewards ratio..



    Not take too much risk than 5-10% in every trade..



    .

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    Last edited by mark48; 05-05-2014 at 06:31 AM.

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    glory3, If you can combine these both trading indicator with good planning and learning then you can received always strong and right market analyzing signal for develop successful simple but effective strategy to daily basic trading. It not simple for everyone and those trader make it for trading in long term trading method which are already taken a lot of experience and knowledge about it well.

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    Quote Originally Posted by fayiz View Post
    glory3, If you can combine these both trading indicator with good planning and learning then you can received always strong and right market analyzing signal for develop successful simple but effective strategy to daily basic trading. It not simple for everyone and those trader make it for trading in long term trading method which are already taken a lot of experience and knowledge about it well.
    I don't even need indicator to be able to know how to trade the market because what I can see on the chart, it is so much simple to look at the chart and then decide on how to trade the market. There is no simple trading strategy, but then, I believe on the learning that the trader has gone through, that will determine the trader get to become able to make use of the strategy in a such a simple way.

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  4. #1123
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    My trade strategy is not based on the lots of indicators because if i do this then there will be higher probabilities to lose the trade from own hands so i hate to use more then more indicator in a trade plan and i work on the safe and smooth trade strategies which are very perfect in use and very accurate for functioning of success so i prefer to the technical methods for working very reliably .

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  5. #1124
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    Quote Originally Posted by galadiator View Post
    My trade strategy is not based on the lots of indicators because if i do this then there will be higher probabilities to lose the trade from own hands so i hate to use more then more indicator in a trade plan and i work on the safe and smooth trade strategies which are very perfect in use and very accurate for functioning of success so i prefer to the technical methods for working very reliably .
    Actually this is very tough for every trader to use more than one indicator and this is also very tough to avoid the false signals that we gain when we are using the lot of inductors in one time so i never prefer this process to anyone that cause only the complexities and we can never be able to avail success through this behavior and we will lose our trade trade quickly .

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  6. #1125
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    I believe in the learning that the trader has gone through, that will determine the trader get to become able to make use of the strategy in such a simple way. Keep in mind that we need to make sure that we have what it takes to become profitable. Because at the end of the day, trading with the simple strategy means that the trader has given so much time to the market in order to get the fruitful results.

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  7. #1126
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    Quote Originally Posted by Azeem View Post
    I believe in the learning that the trader has gone through, that will determine the trader get to become able to make use of the strategy in such a simple way. Keep in mind that we need to make sure that we have what it takes to become profitable. Because at the end of the day, trading with the simple strategy means that the trader has given so much time to the market in order to get the fruitful results.
    Learning is one of the supportive pillar that is helpful to us in earning a big trade in accuracy in the results so this is important to get the probability for earning profits if we are using the best and a suitable trade strategy so we should take knowledge more and with grip on the trade system this could be possible for us to earn profits a lot from this market .

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  8. #1127
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    Long ago I learn that having the successful trading method and strategy in the market always has to do with using the simple method in trading. Because forex trading could seems to be so much complicated, but when the trader has mostly understand the market and know the ways to follow the right method, like trading with the use of the simple support and resistance and nothing more than one indicator, it could make the trader profitable.

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  9. #1128
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    There are a lot of trading methods and strategies, but the way we can succeed is to make sure that we have them used the right way, keeping it simple is done by the trader understanding the market. There are a lot of trading methods in the market. But the one that the trader has been able to have get done correctly. There are a lot of simple method in trading, just take your time to master them you will get successful.

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  10. #1129
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    The simple trading strategy I best learned works in line of the understanding the trader has gotten, so, this means that the trader that has the experience and has demo traded for a long time, they are more likely to have the simple trading strategy and then on the other hand, when the trader has been consistent, then they can be effective with the method that they trade with.

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  11. #1130
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    With the use of the indicator, with the use of the simple chart support and resistance the trader will be able to make the right decisions to know when to take trades in the market. That is basically what I do, using the support and resistance to take my trades, that is the best way I have learned and it works, using indicator lately gets to confuse me.

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