My Profitable Forex Trading Method

Discussion in 'Forex Education' started by anilforexcourse, Jul 3, 2013.

  1. anilforexcourse

    anilforexcourse Trader

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    Hello Friends

    I would like to share My Profitable Forex Trading Method

    Rule No. 1. First study and learn about Candlesticks - Get mastery in this candlestick formation

    Rule No. 2. Wait for US market Open First two Hours. After the US open the third hour and four hour candle shape is Most Important. just see the formation - whether Bulls stronger or Bear stronger. In special case Just before US open nearly 2 Minutes Before US market Open You can check the below the 2 screen shots about the profitable trade which i made yesterday in live trading.

    Rule No. 3. Support and Resistance specially Dynamic support and Resistance

    Rule No. 4. Always use Longer Time Frames 4 hour and daily - for entry come to 15 minutes chart

    Rule No. 5. Always Trade Middle of the Support 1 and Support 2 and Resistance 1 and Resistance 2
     
  2. BlindFA

    BlindFA Trader

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    Sounds like a plan! Might need more precision regarding your money management, trade management and entry, but I guess you're keeping that for yourself :)

    Would you share some results?
     
  3. jayomer

    jayomer Trader

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    thanks for this good informations whish every one keep it
     
  4. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    At least you have a plan, but that is only one part of it. Executing your plan may be much tougher than you think and a lot of traders struggle with that a lot.
     
  5. xProphet

    xProphet Active Trader

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    What is "Dynamic support and Resistance"?

    I like rule 4 because I extensively use different time frames, especially while "day trading."
     
  6. fxib1234

    fxib1234 Trader

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    Thanks a lot.
    Do you have a more specific plan? Thanks.
     
  7. Emibluz

    Emibluz Banned

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    I try to combine professional analysis with effective execution. Although I must admit that I most times have to win my emotions before winning good pips. I respect my stop loss and am never make it flexible, in this way I employ a psychology resistance and support method, keeping my stop loss as my ceiling resistance to control my greed. Technically I use the Fibonacci numbers as we know the faithful relationship between the blessed numbers and price levels. Then sometimes during day trading, I do the 3 duck method. Surprising, isn't it?
     
  8. Agnnis bingamin

    Agnnis bingamin Trader

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    Thanks for all informative post here really feels good to have these..please continue.
     
  9. bita972

    bita972 Trader

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    where do i learn about Candlesticks & Get mastery in this candlestick formation?
     
  10. Ary Barroso

    Ary Barroso Active Trader

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    Nice to know your trading strategy! I actually build my trading strategy according to my PA knowledge with the support and resistance points! Even, I have no knowledge about the news analysis; but during the high voltage news like FOMC, NFP I close all of my running trades position.
     

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