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Forex Discussions
Trading Systems and Strategies
RedBlue Method, S&R
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[QUOTE="8pip, post: 2320, member: 2183"] good, its very good that you are a daily trader because you work on long term trading. most of the people use indicators and i don't use it cas if you use any indicators, you need to their confirmations and it means you are in the center and you lose the first and you need big stop loss, but i dont use them and i find the starting a new movement by this method you have little stop loss and great take profit, some time i leave on 100 pips or 200 pip but i say to my friend: " you can break even and go ahead". this staring zone called SETUP or KEY. it takes time and practice to find them. you must know that SETUP or KEY are not a point, for example: in oil i said " good setup is near on 58.91 " and market go short for 300 pip on 58.56. it means you can trade on it 50 pip or after. and if you trade on 58.40 you dont see any - and you see only profit..... [/QUOTE]
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