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20/26
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Trading-Tactical Approach The major distinction between pro traders and others are deeply associated with their trading approaches. Depending on the approach some will grow up as pro trader and some will go to the paths of gambling. Unfortunately, there is tremendous tendency for people to want to follow a guru, or anyone who speaks with authority instead of developing their own skills and without awareness they fall to the latter category. So, I will share with you my experience of how I am developing my skills (I must say that I am still on learning curve). “House Building” is my concept to build competitive edge in trading business. (Figure 1) The principle of gaining skill in trading is a like building house. You need strong foundation, floors, walls, pillars, windows, ceiling and roofs. The “House Building” concepts I used will provide you with a powerful idea on trading methodology. Your intra-day decisions will be better timed and you will have more confidence when you use all of these tools. Figure 1. Trading House Foundation-Discipline. You must have a strong base for a profitable structure. To build base in the trading is the discipline (the foundation). Without build…
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Ne_juli avatar
Ne_juli 9 May

Like always nice article about trading my friend

Sasha_spicy avatar

Well written article! Keep going :)

AAAnya avatar
AAAnya 10 May

Nice!

vugarali avatar
vugarali 13 May

interesting article

Dominos avatar
Dominos 23 May

good article

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16/28
Ranking
ПРЕДИСЛОВИЕ
В своей предыдущей статье я рассматривал виды money managment, что является неотъемлемой частью любой торговой системы, но даже если они будут давать прибыль, без соблюдения дисциплины рано или поздно все приведет к потере депозита.
Мой торговый опыт около 12 лет, и если бы я был успешным (прибыльным) трейдером, вряд ли бы я сейчас писал эту статью J, но за это время я научился торговать в без убыток, что на мой взгляд не так уж и плохо.
В этой статье я хочу поделиться своим опытом в торговле, показать свои ошибки, которые допускал на протяжении всего времени, а также дать не сколько советов, которые помогут Вам торговать успешнее.
ЗНАКОМСТВО С FOREX
Познакомился я с FOREX в далёком 2005 году, как и многие другие из рекламы о быстром заработке, которая заполонила все просторы интернет. Немного узнав, что и как, я подумал, что действительно ничего сложного нет, особенно для меня, так как с математикой и цифрами я с самого детства на ты. Но…я думаю Вы и так все поняли, все закончилось потерей нескольких депозитов. Естественно я расстроился и начал думать, что делать, и решил искать «Грааль» в книгах о форексе. Прочитав несколько десятков книг, я п…
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wind87 avatar
wind87 4 Oct.

-Знание страха и контроля очень важно.
-Форекс-психология - очень важный фактор, который нельзя игнорировать.))
Успех. Хорошая статья.

Natalia_Kisenko avatar

Well written!

BIGBO avatar
BIGBO 12 Oct.

Да, это важный аспект форекса. Респект!

AngleRMS avatar
AngleRMS 21 Oct.

good

al_dcdemo avatar
al_dcdemo 13 Nov.

Very good!

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34/65
Ranking
FOREX TRADE AND WEALTH BUILDING,PRINCIPLES, PHILOSOPHY & DISCIPLINE

There are many traders in FOREX, with each trader trading the market in a way that is quite different from that of another trader, some traders may tell you that their trading style is 'supreme'. You should not believe this because there is no single 'supreme' trading style or system whether technical analysis or otherwise. If your trading system is profitable, then trust it, believe it, follow it, obey it, and adore it. But in doing these, don’t go about preaching it.
The FACTS below should to be considered with great attention and devotion because they are the success tips to building wealth
through FOREX trading.
SOME ADVISES AND RECOMMENDATIONS ON TECHNICAL ANALYSIS

  • A trader should be able to differentiate between Analysis/Observation and Signal/Trigger as the two are not the same. Analysis/Observation gives the information about the condition of the market while Signal/Trigger gives the alert to trade. A trading system may analyze a sideways market but may still give a signal to buy or sell.
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FXRabbit avatar
FXRabbit 10 Nov.

o.O

FXRabbit avatar
FXRabbit 10 Nov.

First comment! :D

brilliant avatar
brilliant 24 Nov.

discipline is a must . good article

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11/56
Ranking
Abstract
The Forex is seen by many traders as an investment and Poker as gambling. However this view is changing. For some time Dukascopy joined the Poker at Community site allowing traders to participate in regular tournaments. In this article we see that the Forex and Poker are not so far, are more similarities than differences and Poker could be a good opportunity for Forex traders.
Introduction
Poker[1] is a game of cards which is associated with betting and has defined a set of rules. There are many types of Poker with a lot of variations as for example the way the cards are hand out or which is the winning hand (the highest or the lowest). The more commonly played is Texas Hold’em[2] and it is the type of Poker that is available in the Ducascopy Community.
In terms of market building in Forex our contribution is extremely low but in Poker if it is a face to face we are controlling the market. Even at a table with 9 opponents our influence on the market building (Also known as pot building) is extremely strong. This is the main difference between Forex and Poker.
The Forex and Poker similarities

The following topics are the areas where there are more semb[/2][/1]…
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antoniogreenblue avatar

Megajorko, I agree with you, In the short term Forex market and Poker are very dependent on luck (is like a casino). But in the long run the good cards or the good Forex market opportunities are the same for each of us and who have the knowledge always have more advantage ;)

priceaction113 avatar

new way to see the forex trading very good article.

k_morocco avatar
k_morocco 26 Oct.

very nice comparison , i don't now any thin in poker but i m curious , in forex we have strategies with the reward is two time the risk , do we have same thing in poker?

antoniogreenblue avatar

K_morocco, yes in Poker we have the possibility to implement the Forex Stop Loss (make fold and limit losses) and with call, check, bet and raise control the end of game with profit (the Forex take profit). So in Poker is more hard-working than Forex, but we can implement something like "strategies with the reward is two time the risk"

k_morocco avatar
k_morocco 27 Oct.

antoniogreenblue  look like the forex is much simpler than poker ,  :)

thanks you a lot for your response

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14/57
Ranking
If ideas mattered, we would all be rich and thin’. I heard that quote once and it stuck with me. Think about all the overweight people around you constantly struggling to control their weight. Don’t these people know how to lose weight? Eat less then you consume. Get off that couch and workout. It’s not rocket science. Yet they don’t do it. Ideas or knowledge are not the problem here. Discipline is.
There are no Secrets
When I first started trading I read all the books I could find on the topic. I backtested all these different systems trying to find my ‘holy grail’. Yet I was losing money. I kept jumping from system to system or trying to improve a perfectly good trading strategy.
Several years and many mistakes later I started to develop the skill that is (in my opinion) the key to being a profitable trader. That skill isn’t programming or backtesting in a futile search for the perfect system. I didn’t figure out a new revolutionary way to look at the market. I developed discipline.
DALBAR Studies Show Investor Underperformance
Take a look at our next picture. This is from the famous DALBAR studies. It compares the returns of the typical investor versus the respective benc…
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mcquak avatar
mcquak 13 Sep.

Great article, thanks for the information and effort!

chytry_dziad avatar

very nice

brilliant avatar
brilliant 17 Sep.

very good

CLACCD avatar
CLACCD 18 Sep.

Great work

olya2517 avatar
olya2517 22 Sep.

very good

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11/52
Ranking
There are many elements that, when put together, produce a great trader. If you look and read about them, you will usually find three different types of analysis: technical, fundamental and sentiment analysis. If you continue reading, they will tell you that if you analyze properly from the technical aspect, as well as take into consideration context of the currency pair i.e. fundamental analysis, you will do well as a trader. However, this is only partially true.
One of the main reasons why very few brilliant scholars can make their way into trading, lies in their trading plan, or the lack of one. Out of many Forex experts I follow on Twitter, only one or two of them have a background in finance/economics. If you ask why, your answer lies in the title of this article - Trading plan. Instead of reading endless papers on how to define your trading plan, I advise to use Trading Contest to practice and most importantly, to learn how to trade in the right way. And that is: by limiting your position size (risk management), defining trade parameters (entry, SL and TP) as well as trying to stick to your plan.
Fundamental analysis

Each and every morning when I go through all charts, I for…
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ARASHFATHI avatar
ARASHFATHI 29 June

great work

Natali_Niyazova avatar

well done!

Sennna88 avatar
Sennna88 29 June

Thanks a lot both of you!

zarina avatar
zarina 30 June

Спасибо , очень  интересная статья !

Sennna88 avatar
Sennna88 30 June

much appreciated :)

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30/58
Ranking
To be successful in trading means to achieve state of consistency. I won Dukascopy contest prizes three times in the past but I found it very hard to keep myself at the consistent prize winning list unless to improve my edge and skills in order to reach to the stage of consistency. So the main question will be how one can be consistently successful? There are four edges in forex:
  • Technical analysis edge
  • Fundamental analysis edge
  • Risk management
  • Psychology
The last two items of the above list matters almost over 80 percent of the trading result. We know that researchers stated that experts in financial analysis are not often good traders. They can predict the market quite accurate but never had emotionally fit for entering and exiting the trade. One can be very good for the technical analysis, defining the exact entry and exit points but if psychology is not prepared then again often cut the profit and run the losses. We can also see that the winner of the Trading Contest often wiped out his entire amount in the very first week when next context starts, it reveals lack of psychology and therefore one not able to keep his consistency.
In order to be consistently successful, trader…
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16/33
Ranking
Trading is a stressful job, sometimes even the smartest traders forget the basics.
Most traders who want to be professionals some day, spend a lot of time reading books written by trading legends and listening their interviews.
Last month, I started reading the book: Stock Market Wizards, by Jack D Schwager
This book compiled the Interviews of one of the best traders in the world. While reading, I noticed that even the best traders make the same mistakes that we amateurs make!
I will keep short, so that you can remember the whole article.
1. STAY CALM ALL THE TIME
Staying calm does not mean sitting still, your heart beat should be normal, and thoughts should be not be excitement provoking.
Emotions such as anger and excitement interfere with our brain's ability to think rationally. Hence, such emotions must be avoided on a trading desk.
There are two powerful ways to achieve true calmness in your trading terminal.
First: Decide the loss you are happily willing to take. Then keep your stop losses accordingly.

Second:
Do meditation.
If you don't know him, Ray Dalio is founder of Bridgewater Associates. It is a Hedge fund with 122 Billion under management.
Also avoid eating unhealthy…
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500nm avatar
500nm 3 Dec.

@Duka, what happened to the image, why is it not showing up

VictoriaVika avatar

500nm Well writing, very useful tips has been given in this artice, thank you and good luck :)

fullmoon avatar
fullmoon 17 Dec.

I've read all Schwager books several times, every time you read them you find a new nugget.

foreignexchange avatar

thanks for your interesting article

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6/30
Ranking

When a pedestrian turns from the street and tries to cross the road, the first thing he or she looks at is the traffic light. If it is red, normally that would signal to the pedestrian that it is safe to cross the road.
When a pedestrian sees the red light, with all the cars at a standstill, the most logical thing to do is to cross the road. But what if the
light turns green while he or she is in the middle of the road?
There are two groups of people; there are those who meet the red light and cross the road anyway, and there are those who may decide to wait for the lights to turn green, then red again, before they feel safe to cross the road.
Both groups are smart; simply because they choose to cross the road when the cars are at a standstill. In the same vein, smart traders buy when the market is bullish, and sell when the market is bearish.
There is a funny reaction among some forex traders. When these traders see a bullish market, with price climbing up steadily;
their first thought is to open a short position. At such moments, you start hearing phrases like “Retracement expected”, “price is over-bought” or “price is over-sold”.
Basically, these traders look for any opportunit…
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P3tr4 avatar
P3tr4 25 Apr.

Hello Airmike, my survey went back 12 months (March 2014 - March 2013), i did not include all your contest information. I didnot mean to ruffle any feathers, and this is not me seeking any attention, was just trying to make a point and reported what i saw. You said you switched to the TA contest, yet your Trader contest account still registered losses. In my humble opinion, consistency requires more winning months than losers. Once again, no hard feelings. You have one of the highest cumulative contest awards, i just reported the data i saw. Thanks for your input.

Airmike avatar
Airmike 25 Apr.

Everybody seeking attention in article contest, because is a key factor to win. and you are doing a good job, because I add few points to you and you just  jumped over two contestants already. :). I don't blame you. I wish  a good luck to you because it seems that you are smart even if your article has no informative value. I just want to say that next time its maybe better to figure out nice topic and get attention same way  :) 

P3tr4 avatar
P3tr4 25 Apr.

Thanks for the advice, and the points..:)I am also beginning to see your consistency, 3rd place is good!!..Keep it up and All the best to you too.

sankit avatar
sankit 27 Apr.

Well written !

P3tr4 avatar
P3tr4 28 Apr.

Thanks Sankit..

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17/29
Ranking
First I will consider several cases to see how they relate to trading itself:
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
CASE 1:
You are betting on a coin toss. The expected win rate would be 50% whether you choose heads or tails. However if we make a sample of 10 coin tosses, then this does not mean we will always get exactly 5 heads and 5 tails. Sometimes you will get more
heads, sometimes more tails, and in extreme instances you may even get 10 heads in a row or 10 tails in a row.
What is interesting however is the concept of time in relation to your bets on the coin toss. Since it takes longer to make a sample
of 100 coin tosses and even longer on 1000 or 1000000 coin tosses, you will notice that the more you toss the coin the closer the distribution of heads and tails becoming 50/50.
This means if youhave $100 and your opponent has $1000000, there are several interesting points to consider. You are already at a clear disadvantage due to the size of capital. This is because if you bet $100 per toss, then it is almost 100% certain that you will…
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jezz avatar
jezz 26 Feb.

The more you toss the coin, the larger sample you have, the more your results will go towards Gauss distribution - frequency of an outcome, how many times in a row you get a certain result... let's say that out of 100.000 tosses, you might have 100 times in a row 'heads', which will be a unique event... having 10 times in a row either side is much more frequent and will match higher probability in the Gauss distribution. And I can't use the same concept in trading...
Your 50/50 chances in FX have nothing to do with an accidental event, or you're damn lucky

yonseo avatar
yonseo 26 Feb.

Thank you jezz for your insightful thoughts. Apologies in advance and correct me if I misunderstood your last remark but the 50/50 I was referring to was based on tossing a coin to decide whether to buy or sell using x amount of TP and SL. Of course almost no one would use a coin toss to make their directional trading decision, even though I would argue that such a person would last in FX longer than anyone who doesn't cut his losses.

jezz avatar
jezz 26 Feb.

We're trying hard to make a mathematical model of good trading. Setting % of budget, setting limits, setting probability, setting absolutely everything in order to have a winning combination. Trading is a job. To do your work, you have work 8 hours a day and more. No betting, no 50/50, no none of that. Your knowledge is wide, you have experience when NOT to trade. I don't care if that one trade could have brought me millions, it could have cost me as well.
Take $1000 and start your own business. Your odds are 50/50 :) My friend had that great point when I asked him whether to leap into Forex

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18/29
Ranking
Sometimes love is elusive,the more we reject more we fell in love,the first years of our lives of traders while we are learning how difficult that is the world of forex,to us it seemed so easy at the beginning,we try to get that great love matches us,we lose our trading account trying to conquer it,In this case we don´t spend our money on chocolates, flowers or gifts,but we left our account of trading in bad positions committing the same mistakes over and over again.When we got to conquer our great love, for a few months is an idyllic love story our positions are in accordance with the trading system and our account begins to rise with a stable curve.Then appears on the scene who believe friend but it's really a great enemy... "the confidence",and invites us to get out of cups and then as usual our great love learns our unfaithfulness and will be on our side ,then confidence only us wanted to pass the time is going fast and we send to the most feared of our enemies..."the fear", and this comes without any compassion and in a single day, thanks to the trust, thank you to think you're the best trader in the world and that it is not possible for that mistake, you stab your trading acc…
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Teo avatar
Teo 24 Feb.

good one..

williamwoo avatar
williamwoo 25 Feb.

well

jezz avatar
jezz 25 Feb.

Copy paste doesn't work well and you have to re check the text, but uploading is evidently worse... I must admit I posted my article several times before he became 'normal'.

independeceday32 avatar

Thanks jezz , I guess that the first all fail, already have learned the lesson... first draft !! :))

anton_dang avatar
anton_dang 27 Feb.

nice one :)

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19/41
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For years I read about trading strategies, different types of charts, indicators and other tools of technical analysis. Every day there is new indicator or strategy somewhere on internet and due to human nature traders think that if strategy or indicator is complicated, and if they don't understand what does it show, it has to be something great that will for sure make profit. Process of using such indicators of strategies in probably 99% of cases ends up in one of these two scenarios:

First scenario:

  • Trader finds cool new strategy or indicator;
  • Since it looks nice with all the nice colors, and it seems complicated, and guy that invented it put screenshots
    of few profitable trades, trader decides to use it;
  • After first 5 trades using this indicator/strategy there is one profitable trade and four bad ones so trader
    concludes that this indicator/strategy doesn't work and stops using it;
  • Trader continues searching another Holy Grail strategy that will make millions in 10 days.
Second scenario:
  • Trader finds cool new strategy or indicator;
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gonzalo avatar
gonzalo 21 Oct.

that's not true , whenever you increase your R:R , your ratio of winning trades will also decrease dramatically , just try to backtest your strategy of 100SL and 300TP and you will realize you ratio of winning trades won't be even 20%.... so you will lose all your money anyway in the long run
cheers

kokky avatar
kokky 21 Oct.

True, percentage of wining trades decreases with bigger RRR, but stays slightly above minimal requirement for profit. Because it is only slightly above, I have to use large SL and TP so spread participate in trade as low as possible. For instance if SL is 10 pips, spread of 1 pip participate in trade with 10%, but if SL is 100 pips, 1 pip spread participate with only 1%.

I understand what you want to say, and it would be true if markets is driven by pure mathematics, but it is actually driven with human emotion and that gives us just enough edge to be able to take small profit.

Airmike avatar
Airmike 23 Oct.

nice article , i wish you good luck

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33/46
Ranking
While there maybe some form of risk involved in trading, Forex trading does not necessarily have to be classified as risky.When ever we think of risk in Forex, we should think of it as professional investors think of risk in an investment. When professional investors (real estate, stock, commodities, etc investors) think of risk they think of control. If their control is 10%, then their risk in the investment is 90%, which means they will not invest and vice versa. Let us check what we as traders all have control over and what we don't have control over in Forex trading.We have control1) Over which broker to use, which in my opinion, i highly recommend dukascopy,as i still consider them best among the best, although there might be other brokers to choose from(2) Over how much to deposit, i strongly recommend dukascopy, for safety of funds(3) Over how much leverage to use(4) Over how much we are comfortable losing on each and every trade(5) Over how many positions to open at a time(6) Over what time of the day to trade(7) Over which currency pair to trade(8) Over what day of the week to trade(9) Over where to live and trade(10) Over whether to be on suit or boxer, often times i tr…
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valentine avatar
valentine 16 Apr.

Trade a longer term in order to don't be bothered by slippage. Actually, once you will switch to longer term trading, you will improve your emotional state and P&L also :)

Brasileiro avatar
Brasileiro 17 Apr.

+ like

SpecialFX avatar
SpecialFX 19 Apr.

Great title, there is nothing inherently riskier about forex compared to other markets, the "risk" comes from the misuse of leverage, not having a good strategy, and basically not knowing what you're doing :)

kelvindfxguru avatar

@Valentine, you are absolutely correct, higher time frame is more reliable because of the time put into their formation, it gives a more steady direction

kelvindfxguru avatar

@SpecialFX, you have said the facts

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5/40
Ranking
"The path to success is to take massive, determined action" Every day hundreds of new traders are attracted to forex market and embark on their journey to fulfill their dream of financial independence. Their goal is to become consistent profitable traders, but very few are able to accomplish it. There are many reasons that leads to their failure, but the most common ones are lack of patience & discipline, fear of failure, being too greedy, poor risk / trade management etc.There are three reasons to write this article, number one is of course to win some prize money. The second one is to summarize my trading experience and share thoughts that helped me immensely in my transformation from being a losing trader to a winning trader. Although, I am not yet in the league of consistent profitable trader, but I am satisfied with my progress. I firmly believe that trading is a journey of self measure and self improvement and a personal battle to do what we know is right versus what we want to. The third and most important reason is to help fellow retail traders understand some important aspects of trading, which they think is not that important because their focus is so much on finding a ho…
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SHARKY12 avatar
SHARKY12 29 Mar.

alifari thank you for your article

doctortyby avatar
doctortyby 31 Mar.

I think that probabilities scenarios are a "must" in any trader's plan.... where will the market proove me wrong? :)

CompositeOperator avatar

very good , best article ive seen thus far ! , keep it up!

Grizzly avatar
Grizzly 2 Sep.

article+,good luck again

FxMidaso avatar
FxMidaso 6 Dec.

learned something from your article to make my trade set up better. I'm lacking in the risk management department, this article made me realize an easy way to do that. Thanks alifari.
I'm looking forward to your second article on this series. thanks again.

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25/40
Ranking
After a month break, I'm back to articles. Once again I bring you a simple strategy and with considerable profitability. Let's call it as: "FPSinScalping" It is intended with this system, inputs and outputs "fast" market. For this purpose goes be used: A chart TF M15.A MA7 (Smoothed) with the price "ClosePrice"A Scalper Band (medium parallel to MA7) with a distance of 21 pips from Central Moving Average WR 18%, with levels of -75% and -25% Once prepared the chart, this is the time to explain to you how the strategy, but not before explaining to you that this method has two alternatives: 1. Reduce volume by 50%, for example if the idea was to enter the market with 1 lot, then get into with just 0.5lot so we can do a reinforcement, when and if the price distance itself 50pips. The objective will be exit in 2 orders in midprice or SL 100pips (considering the 75 pips on 1st order)2. Enter full volume (1 lot for example) but consider the SL 50 pips NOTE: we can still further reduce the amount of input which may increase levels of reinforcement, always considering the respective SL. Having said that, here is the method for identifying the SETUP entry to the market. Signal for Sell Orde…
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LinnuxFX avatar
LinnuxFX 4 Mar.

Another great and simple way to trade! I will not promise also automate this strategy because I have had some lack of time and have not done the strategy presented earlier as promised.

Efegen avatar
Efegen 28 Mar.

I wish it was that simple to earn that much pipis without drawdown. My heart is with you but my brain. Adks for more proof.

SpecialFX avatar
SpecialFX 28 Mar.

Thanks for this strategy Bluedragon, I have a question, what is a "Scalper Band"? Is that an indicator? :)

Delossan avatar
Delossan 31 Mar.

I use WR 61%. I is a good and a good articel. +

Ferom avatar
Ferom 22 June

Nice system António. I think it works with the EMA7 and +26/-26 levels too. If you use a lower TF (while looking at the 15MTF) to make the entries It'll be even more effective. Also, i like to use all the money I can, and a shorter SL. 20 pips profit seams to be the most profitable TP. I'll look at it better in the next days... tks!

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