Simple But Very Effective Strategy [Contest]
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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.

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    Simple But Very Effective Strategy

    First Trade

    1. Short GBP/JBY
    2. Order 68038122
    3. Entry price 172.288,
    4..stop-loss 173.600, take profit 171.600, exit price 171.984
    5. Outcome (+29.8% per capital or 298$)
    6..Time frame Daily chart
    I open that trade due to market rejection from strong resistance level of 173.140 level with a stochastic oscillator in over bought area,entry price was just Friday candle close price..my first target was 171.620 and then 169.500,stop loss was just 15 pips above that candle high level..but due to my first trade on Pro account i not calculated my risk well,that's why i close my trade manually with almost 30 pips..it's better to get some green pips than losing..but if i get another chance then i will open trade to get first target of 171.600 level..

    let's see



    Here you check my close trade...



    This is first time when i do explanation of my trades and strategy like that,i not have much experience,so i need suggestion of other members too for improvement..

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    Last edited by mark48; 05-07-2014 at 04:30 AM. Reason: Update

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    Most of the traders want to trade with good strategy. Because only good strategy can help us to make huge profit from forex trade business. I also try to trade in forex with good strategy. i think zigzag indicators and use h4 candle us so simple but very effective strategy for all traders.

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    Simple But Very Effective Strategy

    1. Long AUD/USD
    2. Order 68038094
    3. Entry price 0.92762
    4..stop-loss 0.91900, take profit 0.94600
    5..Time frame Daily chart

    I open long trade position of AUD/USD because market price shows rejection from support level of 0.92041 and stochastic oscillator just above over sold area,my first entry was Friday Candle close price like 0.92752 and 2nd entry will be near 40-50% of that pin bar,stop loss is just 10 pips below of pin bar and take profit will be next resistance level due to major trend is also bullish..

    Let's See..


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    Last edited by mark48; 05-07-2014 at 04:18 AM. Reason: update

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    Quote Originally Posted by mark48 View Post
    1. Long AUD/USD
    2. Order 68038094
    3. Entry price 0.92762
    4..stop-loss 0.91900, take profit 0.94600, [COLOR="#FF0000"][B]
    5..Time frame Daily chart

    I open long trade position of AUD/USD because market price shows rejection from support level of 0.92041 and stochastic oscillator just above over sold area,my first entry was Friday Candle close price like 0.92752 and 2nd entry will be near 40-50% of that pin bar,stop loss is just 10 pips below of pin bar and take profit will be next resistance level due to major trend is also bullish..

    I close my trade manually due to market shows rejection from resistance level of 0.93024 and H4 chart shows that,stochastic oscillator was in over bought area also gives indication for downtrend,so that's why it's better for me to close my trade manually with profit..although in this set up my risk calculation was not good,but i will manage it in my next trades..

    here is the result of my trade..



    Net Outcome: (42.3% per capital or 423$)

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    Last edited by mark48; 05-07-2014 at 04:24 AM.

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    1. Short GBP/AUD
    2. Order 68038086
    3. Entry price 1.81910
    4..Stop-loss 1.83100, Take Profit 1.80000, Exit Price Running
    5. Outcome Running

    I opened long trade position of GBP/AUD because market shows rejection from resistance level and stochastic oscillator just cross in over bought area gives indication for market downtrend to start,my first entry was Candle close price and i enter again too if market shows some uptrend near 40-50% of that candle length,stop loss was just above 15 pip above the high of that candle,First take profit target will not be less than 100 pips for this trade..

    Check it



    TUESDAY May 6,2014

    UPDATE:

    I open another short trade position after market reaches near 40% of that candle with 0.3$ lot size,both trades are running in profit and i expect more profit Today,so i will only close trade after getting not less than 100 pips..

    Trade View


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    Last edited by mark48; 05-06-2014 at 05:21 AM. Reason: update

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    Quote Originally Posted by mark48 View Post
    1. Short GBP/AUD
    2. Order 68038086
    3. Entry price 1.81910
    4..Stop-loss 1.83100, Take Profit 1.80000, Exit Price Running
    5. Outcome Running

    I opened long trade position of GBP/AUD because market shows rejection from resistance level and stochastic oscillator just cross in over bought area gives indication for market downtrend to start,my first entry was Candle close price and i enter again too if market shows some uptrend near 40-50% of that candle length,stop loss was just above 15 pip above the high of that candle,First take profit target will not be less than 100 pips for this trade..

    I open another short trade position after market reaches near 40% of that candle with 0.3$ lot size,both trades are running in profit and i expect more profit Today,so i will only close trade after getting not less than 100 pips..
    Close my Trades because i booked my profit very well which is my first aim..also my account reaches 300% profit..




    Here is the result of my trades..

    1. Short GBP/AUD
    2. Order 68038086 and 68040434
    3. Entry price 1.81910 and 1.82339
    4..Stop-loss 1.83100, Take Profit 1.80000, Exit Price 1.80950and 1.80932
    5. Outcome Pips (96+141)= (897.47+394.35$$)

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    Last edited by mark48; 05-08-2014 at 07:26 AM.

  8. #8
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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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  9. #9
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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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  10. #10
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    Yes that is the way of trading. The strategy will be simple but effective. complicated strategies are not a good thing to do in the forex market. if you want to make money in the forex market the best way to do it is to make money with a good strategy and never let it go.

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