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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.

  2. #1151
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    Quote Originally Posted by Brain View Post
    There are a lot of simple approach in trading the market. The price action from my personal learning has been what I have been able to have learned and seen as more appropriate approach to trading. Price action is one of the effective way of trading, however, you should know that candlestick is a must to be known before price action can work for us.
    I can say that the candle sticks is the whole and sole of price action analysis and its good to focus on price action right from beginning. We can also put an indicator or two on our charts but it would be a waste of time trying to learn too many indicators or the unknown ones. Our candle sticks charts actually presents a good platform to study the market and the SOR levels, we can use different chart patterns, use indicators or trend lines to trade trend.

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  3. #1152
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    With simple and effective system, traders can balance up their trade and having one can increase our opportunity to make profits from forex. To build such system, demo learning will be the perfect way to learn and through this platform of practice, we can have the oppotunity to work on this trade and have what it takes to manage this trade. A good system is always important and with good plans in this business there is always an opportunity to work on this trade and have the chance to keep it up with profits.

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  4. #1153
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    A simple trade is comes from the simple working methods and through the good learning skills and our practices can make us to be very good for earning success so a simple earning is possible from the best ever tade strategies which are unlimited practices by self and with the power of own experience we can make a trade system to good and very reliable .

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    Registered user cutiekc's Avatar
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    A strategy being able to make you money is all depending on how you have seen the trading strategy and then how willing you are to make use of it when trading. There are a lot of trading strategy that we can make use of in the market. As a matter of fact, I think the simple way the trader can trade the market is to understand first the support and resistance market movements and factors.

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    Registered user Lyon's Avatar
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    Trading is simple, depending on what you have learned and then have decided to trade the market. For me, being that I have learned, I did learned and decide to trade the market with the use of the trend approach, it has always been the best way for me to trade the market, Trading the trend is quite effective, I just do think that being successful takes a lot of time, you can't have a simple approach in trading, mainly, you should become successful if you have a strong will in controlling your emotions.

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  7. #1156
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    Quote Originally Posted by Lyon View Post
    Trading is simple, depending on what you have learned and then have decided to trade the market. For me, being that I have learned, I did learned and decide to trade the market with the use of the trend approach, it has always been the best way for me to trade the market, Trading the trend is quite effective, I just do think that being successful takes a lot of time, you can't have a simple approach in trading, mainly, you should become successful if you have a strong will in controlling your emotions.
    Trading itself is not simple but we have to make it simple by following simple and effective ways and enhancing our experience. Trading strategy should not be complicated, because a trading strategy is complicated in two situations when traders dont understand it well or it has not been properly build. We need to understand our trading style and explore the strategies that can suit us.

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  8. #1157
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    Quote Originally Posted by Abhishekwala View Post
    Trading itself is not simple but we have to make it simple by following simple and effective ways and enhancing our experience. Trading strategy should not be complicated, because a trading strategy is complicated in two situations when traders dont understand it well or it has not been properly build. We need to understand our trading style and explore the strategies that can suit us.
    traders will get own way for trading till feel simple to implement their trading system, and it means, it depends to trader's skill how to learn and absorb the lesson till use them at their trading forex with the skill and knowledge, they will know how to build the simple trading system which is easier used for trading with reduce some points and make it simpler, for this, need enough experiences and so they know how to build the simple trading system

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  9. #1158
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    Quote Originally Posted by mr.big View Post
    traders will get own way for trading till feel simple to implement their trading system, and it means, it depends to trader's skill how to learn and absorb the lesson till use them at their trading forex with the skill and knowledge, they will know how to build the simple trading system which is easier used for trading with reduce some points and make it simpler, for this, need enough experiences and so they know how to build the simple trading system
    That is the reason why the learning is there, because when the trader has learned and got to have a way more better way of trading. I think the trader can become profitable and trade effectively, I know it ain't gonna be easy, but a trader should be the sort of trader that has been patient enough to only follow on trading method and never to be the kind of trader that takes use of so many trading strategies.

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  10. #1159
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    We can trade forex easily anytime as long as we have develop a good strategy and skills of trading, there are a lot of good strategies to trade with, we need to be very patient to learn and master how to use the strategy properly, if we have a good understanding about the strategy and skills that we are using that's when the strategy will be simple and effective.

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  11. #1160
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    I think I used a similar trading strategy which trades off the supports and resistances but I wlasy use the one hour charts and my setting on the Stochastic is the 14,3,3. The way I use it is whenever the price approaches an important area such as the support and the two line of the stochastic are below the 20 level line then I would start buying it the pair in hope that the market price would rise. Also, whenever the price is testing out a resistance area and the two line of the stochastic are into the 80 level line then I would start selling in hope that it would start moving downwards and in most cases I found out that the price will always respect this trading method and the only thing we need is to make sure that we have a trading plan in place as to know when and where to take profits and put our stop loss.

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