Simple But Very Effective Strategy [Contest] - Page 3
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  1. #1
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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. #21
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    In my point of view GBP / USD is very effective strategy contest for all the people who are the traders of the roboforex academy in this contest. so it is simple for every one to accesss int his method of selecting the currency pairs with effective outputs. so we can use most of the indicators like MACD and any other useful indicators for clear view of the strategy methods.

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  3. #22
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    Quote Originally Posted by mani89 View Post
    In my point of view GBP / USD is very effective strategy contest for all the people who are the traders of the roboforex academy in this contest. so it is simple for every one to accesss int his method of selecting the currency pairs with effective outputs. so we can use most of the indicators like MACD and any other useful indicators for clear view of the strategy methods.
    Thanks for good suggestion,it's right GBP/USD pair is good to trade because of it's volatility,this strategy works good to all currency pairs if we recognize good trade set up..indicators are good but i just advice to practice more with your indicator and experience is the key when your trading strategy consist of indicators..i also open trade on GBP/USD today because i got good trade set up which i will post later..

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  4. #23
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    Quote Originally Posted by mark48 View Post
    1. Short GBP/USD
    2. Order 68576239
    3. Entry price 1.48490
    4..stop-loss 1.70050, take profit 1.66675,
    5..Timeframe Weekly chart
    6..Outcome: Running

    Based on weekly chart analysis at which market shows rejection from 1.69956 level,i open my short trade position at 1.68490 with 1.00$ lot size,my stop loss was just 10 pips above the high of that candle price and take profit target was 1.66675 level,stochastic oscillator cross at over over bought area confirm my trade set up,i will update my trade as it progress..
    Result Of Trade



    I close my trade after stochastic oscillator reaches oversold area at H4 chart with the bullish Candle,but i locked my 70 pips profit easily...

    Outcome: (70 pips or 700$)

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    Last edited by mark48; 05-15-2014 at 05:04 PM.

  5. #24
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    Given: 1
    1. Long EUR/USD
    2. Order 68768668
    3. Entry price 1.37113
    4..Stop-loss 1.36380, take profit 1.37900,
    5..Timeframe Daily chart
    6..Outcome: Running

    I opened my order for long trade position of EUR/USD at 1.37113 with 0.3$ lot size (look for 2nd entry with big lot size) after market price shows rejection from support level of 1.36723,stop loss was just 10 pips below of that candle low price and take profit target is 1.37900 (which may be more if market shows some good movement)..stochastic oscillator cross in over sold area gives confirmation to this trade set up..

    Check this


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    Last edited by mark48; 05-22-2014 at 04:05 AM.

  6. #25
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    Given: 1
    1. Short NZD/USD
    2. Order 68688568
    3. Entry price 0.86805
    4..Stop-loss 0.87900, Take profit 0.85200,
    5..Timeframe Weekly chart
    6..Outcome: Running

    I opened short trade position of NZD/USD at price of 0.86805 based on my weekly chart analysis,market price shows rejection from 0.87790 and gave good trade set up,stochastic oscillator at over bought area also gives confirmation for market looking downtrend,my entry price was almost 45% of that pin bar which means that i can still have more chances to enter again if market shows good downtrend momentum,stop loss was just 10 pips above that candle high and take profit was set to next support level of 0.85200..

    Let's Check


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    Last edited by mark48; 05-17-2014 at 08:31 AM.

  7. #26
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    Quote Originally Posted by mark48 View Post
    1. Short NZD/USD
    2. Order 68688568
    3. Entry price 0.86805
    4..Stop-loss 0.87900, Take profit 0.85200,
    5..Timeframe Weekly chart
    6..Outcome: Running

    I opened short trade position of NZD/USD at price of 0.86805 based on my weekly chart analysis,market price shows rejection from 0.87790 and gave good trade set up,stochastic oscillator at over bought area also gives confirmation for market looking downtrend,my entry price was almost 45% of that pin bar which means that i can still have more chances to enter again if market shows good downtrend momentum,stop loss was just 10 pips above that candle high and take profit was set to next support level of 0.85200..
    Result Of Trade



    I close my this trade because stochastic oscillator reaches in over sold area and formation of bullish candle at H4 chart,i locked my 50 pips profit easily..i set my take profit to 0.86300 on Friday because i really want to close my trade,there is still downtrend expected next week too and i will try to enter again if i find good trade set up..

    Outcome: (50 pips or 507$)

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  8. #27
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    Second week results of my "Simple but very effective strategy"

    Total trade set up = 3 (Short GBP/USD,Short NZD/USD,Long EUR/USD )

    Total number of trades = 4 (2 trades still running)

    Total win = 2

    Total loss = 0

    %win = 100%

    Total pips gained = 120 pips

    Total pips loss = 0

    Profit Per Week = 1207$

    Let's Check



    Running Trades


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    Last edited by mark48; 05-18-2014 at 05:57 PM.

  9. #28
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    Quote Originally Posted by mark48 View Post
    1. Long EUR/USD
    2. Order 68768668
    3. Entry price 1.37113
    4..Stop-loss 1.36380, take profit 1.37900,
    5..Timeframe Daily chart
    6..Outcome: Running

    I opened my order for long trade position of EUR/USD at 1.37113 with 0.3$ lot size (look for 2nd entry with big lot size) after market price shows rejection from support level of 1.36723,stop loss was just 10 pips below of that candle low price and take profit target is 1.37900 (which may be more if market shows some good movement)..stochastic oscillator cross in over sold area gives confirmation to this trade set up..

    Check this

    UPDATE:

    Yesterday i changed my stop loss from 1.36380 to 1.36230 because of FOMC Meeting Minutes and i was quite sure that market will still go up after breaking that 1.36380 level and that happens too ,Today i expect more volatility of EUR/USD pair because of fundamental news and hopefully market will reach my take profit target first before going down..Although i increase my risk by doing this but i hope my that trade decisions will end in my favour..

    Check This


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    Last edited by mark48; 05-22-2014 at 07:40 AM.

  10. #29
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    Well mark48, you are doing very well with your trades. I like your strategy. Support and resistance always a good indicator for trading long term or short term. Use of stochastic oscillator made it interesting as well. The images you provided is of good quality and clearly visible. I think it will bring you good points for the contest. I wish you success in the contest in real trading.

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  11. #30
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    Quote Originally Posted by nkhan2810 View Post
    Well mark48, you are doing very well with your trades. I like your strategy. Support and resistance always a good indicator for trading long term or short term. Use of stochastic oscillator made it interesting as well. The images you provided is of good quality and clearly visible. I think it will bring you good points for the contest. I wish you success in the contest in real trading.
    Thanks dear for your valuable comments,stochastic oscillator is good indicator to understand market over bought and over sold condition,but you should work with that indicator for long time to filter your trade signal,no doubt support and resistance work well when you have good experience to work with them..

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