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My Forex Trading SystemAfter buying forex trading systems and experimenting with them for some months, I finally developed my own forex trading system. The most important thing that I finally realised after few years of trading is that there are 3 most important things which constitute to successful trading. Most people thought that by just buying a forex system, things should work out well from then onwards and cash will start to roll in immediately upon paying for the system!
However, the reality is not like that. I am sure you must have tried or heard about people who have tried to buy a number of systems and find that they do not work as expected and they lost money in forex. That is a very common story that we always heard from people. As mentioned, the 3 most important things are Trading Psychology, Money Management and of course a reliable Trading System. These 3 things form the pillars of successful trading and lack of any one of them would make successful trading not possible and not to talk about making a living out of trading then.
Notice the 2 candles inside the red box. The second candle is completely within the first candle. The entry point is after the second candle and the price to enter is 1 point below the low of the second candle. Stoploss is 2 points above the high of the first candle. I will use the crossing of the blue line with the red line (in Stochastic 8 3 3 setting) as my final confirmation to enter the trade. This is for a short entry.
Fully Automated 'BLACK BOX' Software earning thousands of dollars per month! Just keep the PC switch on.....
Now look at a long entry with the chart below: (Long
Trade)
Notice the 2 candles inside the red box. The second candle is completely within the first candle. The entry point is after the second candle and the price to enter is 1 point above the high of the second candle. Stoploss is 2 points below the low of the first candle. I will use the crossing of the blue line with the red line (in Stochastic 8 3 3 setting) as my final confirmation to enter the trade. This is for a long entry.
I have found that when these inside candles occurred near a support or resistance line, the success rate is even higher and more assured in many cases. Of course, this is just how I personally trade forex my way and it is not intended that you follow exactly what I do as I personally DO NOT guarantee that you will make money with my strategy.
Ok, thats all till then.... as I am currently experimenting another strategy which proves to be quite successful. Will update you once it is ready. Thank you for your time in reading this. :)
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