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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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    Registered user Lyon's Avatar
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    The success in forex trading is depending on us, therefore any one that wants to become successful should see through the demo account to really know how the market works and then build strong strategy that will help them become profitable. There is no simple trading method in the market , however things becomes simple to you depending on how much knowledge you have gotten.

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    Support and resistance is a simple but very effective strategy to use you need to learn and understand this strategy very well and it will be very simple for you to use and earn with, trading with a simple strategy will make it very easy for us to trade and make money in the market but that's when we no how the strategy work before it will be very effective.

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  4. #653
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    Quote Originally Posted by Eneregha View Post
    Support and resistance is a simple but very effective strategy to use you need to learn and understand this strategy very well and it will be very simple for you to use and earn with, trading with a simple strategy will make it very easy for us to trade and make money in the market but that's when we no how the strategy work before it will be very effective.
    I need to understand fully about these technical based strategies that will added more quality in our trading and we have good chances to work hard and have good success ratio we have to work properly and with learning and by having knowledge trader will learn well how we are able to perform good and have good success rate .

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    Registered user Sixteen's Avatar
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    Having the right strategy will give us profitable means to make much more of better profits like we sole desire. An effective system is necessary to have and we must develop with the demo account to see that its obtainable why we work towards profit making. A good strategy is what is needed and as traders it' should be our plans to build such system and make a global impact to learn on how to excel in trading.

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  6. #655
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    Quote Originally Posted by Sixteen View Post
    Having the right strategy will give us profitable means to make much more of better profits like we sole desire. An effective system is necessary to have and we must develop with the demo account to see that its obtainable why we work towards profit making. A good strategy is what is needed and as traders it' should be our plans to build such system and make a global impact to learn on how to excel in trading.
    Many traders dont learn a strategy and they want to make profits but that is not going to be possible in any way. There are lots of strategies but not all are good and to find a strategy that is simple and effective as well, it needs lot of practice. We need discipline to follow our plan. Not all people are meant to be a trader actually.

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    Quote Originally Posted by geddam View Post
    Many traders dont learn a strategy and they want to make profits but that is not going to be possible in any way. There are lots of strategies but not all are good and to find a strategy that is simple and effective as well, it needs lot of practice. We need discipline to follow our plan. Not all people are meant to be a trader actually.
    i am sure that the simple strategies are very perfect choice for gaining high ad most effective trade , it all on the trading working styles that based on which trading system is more successful for getting big profits for them , many trades have the ability to achieve success by the use of risky strategies so its all depends on trading skills and good power of working with the using strategy which play an essential role to make it more successful for achieving an effective trade.

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  8. #657
    Registered user cutiekc's Avatar
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    Trading strategies that are simple are often effective, but we ought to know that by simple it doesn't mean that using the little time frame in trading makes it simple. No it does not, when we talk about simple it means such a strategy that we don't have to spend so much time on a day, just make analysis take your trades and then come back.

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    We need to learn and understand how support and resistance strategy work if we want to make money with it, I no that supports and resistance is a very simple and effective strategy but if you don't understand how it work you cannot make money or find it easy to trade with, you need to learn and understand support and resistance strategy if you want to trade and make money with it easily on the market.

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  10. #659
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    stochastic will work well with the support and resistance levels, because both will confirm each others and so this will help the trader to find good chances and positions of trading, the trader can test the strategy on different time frames and see on which of them will work well and give better results for trading and then he can apply it to make more money.

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    I have no doubt that such trading concept will be effective because when you look at it, a good trader with some decent price action skills will be able to have good successful trade with the trading method. A trader that wants to make money and become successful should always look at such simple approach in trading as it will enable them see the chart clearly.

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