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5/26
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Technical analyzes and strategy is the essential for profiting from trading but not enough for being successful for a long time. Psychology is the factor that impacts our trading the most. I mentioned this in my earlier articles. We may have internal reasons or reasons from outside that impact our psychology, which in its turn impacts our trading. We can be cautious about it or not. For keeping emotion away and achieve stable profitable trading we need to build rules. In this article I will share rules that help to stay successful in trading.
“Trading is not guessing, feeling! Trading is not creativity and breaking rule! Trading is about following rule and recognizing patterns and signals!”

1st rule: Follow the rules!

This looks very simple but it is not! We all have gut feeling that guides us. Sometimes it works but mostly it does not. We tend to think that we are smarter than others and can fool others, even market. We tend to hurry and take earlier decision and then lose. If we don’t want to get surprise move and lose then we have to follow our tested and proven rules.
TIP 1: Read the rules before starting the analyzing the market and second time when you want to open a trad…
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Anton_Bustrov avatar

Good job

MR_KHALEDBADRY avatar

good job

klintons avatar
klintons 31 May

God job !

NataAzov avatar
NataAzov 1 June

Интересная статья!

AndreiLuschkov avatar

Интересно)))

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2/34
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Welcome Traders and Readers,
This will be my first article here on Dukascopy and I hope the information will benefit you in the future.
As we are a community you can feel free to ask me any question, I will do my best to answer them all quickly. This also means that if there are multiple members who would like me to talk about some specific subject in a new article, please let me know.
In this article I will talk about multiple ways that will help you prevent overtrading, entering trades at exactly the wrong time and the use of different chart perspectives.
Overtrading
When I just started trading I found myself entering a lot of trades because I liked the price action and I thought my position would benefit me. Sadly all my losing trades showed me I didn’t had a clue about price action after all, this resulted in many loss trades or profitable trades which I closed way too quickly.
I think most of you who have actively been trading can relate to this.
To stop myself from opening trade after trade without being well informed and having any clue I started paying attention to the following:
[list][/list]…
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Vlad73 avatar
Vlad73 22 Nov.

good job

FXNOAD avatar
FXNOAD 23 Nov.

Well done

kish avatar
kish 23 Nov.

неплохо

JuliannaS avatar
JuliannaS 24 Nov.

Nice to read your articles )

Blaise avatar
Blaise 25 Nov.

Nice one, enjoyed reading it !

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15/22
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This article will be useful for beginners in trading and for professionals to get relax and laugh a little remebering times when they were at start line.
To become a trader you need only two qualities: 1. to know how to handle stress; 2. to be good in math.
You will handle your stress only when make trading not emotional, but profitable occupation.
If your definition of trading can be described with words: "genius" transactions, magical prediction of events and billions of dollars' – it will be hard to become successful trader, better try your talents at the movie plot writings.
Only when your psyche is ready to accept definition of trading as statistics, theory of probability, the calculation of risk and psychologically difficult, tedious following of the strategy – you are ready to try.
Usually, algorithm of obtaining of any profession looks simple: get the knowledge, and then get the experience. In trading it is vice versa: people jump into practicing and after first loses start to learn how to make this occupation profitable. The biggest mistake and time killer for almost all beginners is to follow balance all the time. I agree, this is fascinating spectacle to look at chan…
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Mani avatar
Mani 12 Nov.

Good Work

MobNaga avatar
MobNaga 12 Nov.

nice work :)

verindur avatar
verindur 19 Nov.

Nice article. But I beleive in using your emotional power for trading. But I do say you should have perfect emotional control.

verindur avatar
verindur 19 Nov.

Probability theory a must for a successful trader : )))))))))))

WallStreet6 avatar

very good article

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3/29
Ranking
Did you know you can win 65% or even 80% of the time, but still lose all your trading account?
Did you know you can make money while winning only 40% or even 25% of the time?
Regardless of your strategy or trading approach, you must incorporate the power of mathematics into it.
Think, for example, of blackjack in casinos. They do not get stressed if a player wins a large hand against the house, or if they have a losing day. Why is that? Casinos know the odds are in their favor and that in the long run they'll win and profit consistently.
This very same concept should be applied to trading. Do not let a single trade unsettle you and affect your mindset.
This is what you must know if you want to succeed and keep profitable over hundreds or thousands of trades: risk of ruin with fixed fractional position sizing.
First and foremost, it is of paramount importance to make the distinction between fixed position size model and fixed fractional position size model, and why you should be using the latter model, over the former, before diving into the realm of risk of ruin.
Fixed Position Size Model VS Fixed Fractional Position Size Model
While there are many money management models apart fro…
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FxMidaso avatar
FxMidaso 10 Jan.

good article.

jmdv avatar
jmdv 10 Jan.

The risk of ruin really gave me something to think about! One must always have that in mind.
This really helps in working on a strategy. Good job !

Skif avatar
Skif 11 Jan.

Excellent article, risk model like most !!!

AlligatorEffect avatar

Thank you for the comments!

babonasfx avatar
babonasfx 26 Jan.

mne nravitsia vase statja

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1/46
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If there's one trading-related activity that I really enjoy doing is creating simple mechanical strategies that have a statistical edge, and can be successfully used by anyone, regardless of experience level in the world of trading in general, and Forex in particular. This month I took a look at a moving average indicator called the GMMA (Guppy Multiple Moving Average), and tried to come up with a profitable strategy, based on a few simples rules. ___________________________________________► Brief introduction into the GMMA indicator Even though this tool (developed by Australian trader Daryl Guppy) is not available in the Dukascopy jForex platform, you can easily apply it to your charts, because it simply consists of two groups of exponential moving averages (EMA). The faster averages are 3, 5, 8, 10, 12 and 15 EMA, while the slower ones are 30, 35, 40, 45, 50 and 60 EMA. The way you trade with the GMMA is not by the typical moving average crossover you would expect, but by analysing and interpreting the interaction between the two groups (for example, if the distance between them is compressing or expanding), and also among the different EMAs within each group. However, …
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Dieselfx avatar
Dieselfx 30 Apr.

thanks for ur support, good luck to u too in this contest ;)

DumbAsArock avatar

Never too late for another +1

khalidamassi avatar

good work, I liked it +++

apsu avatar
apsu 1 May

good

foxybaby avatar
foxybaby 22 Mar.

not good. Looking at the equity curve in your backtesting. Winning trades until around trade 60. Afterwards constant loss until trade 120. If the trades are evenly distributed over time, then you have made profit between 2003 and 2007. From 2007 onwards there were only losses t come. If you start today, you would have to expect a losing strategy.

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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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1/51
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A couple of weeks ago I got a private message from a community member, asking me to write something specific to short-term traders, if possible. Taking the request into consideration I'm going to describe a trading technique where trades will last two days only, no more no less. If two days is already long term for you, this system can be adapted to shorter time frames, although the results will be poorer, so take that into consideration. _________________________ ► What is an inside day? An inside day (also called inside bar/candle in intraday charts) occurs when the highest price is lower than the previous day's high, and the lowest price is higher than the preceding day's low. Here's a perfect example: The common interpretation of inside days is that they are a sign of consolidation, where neither supply or demand are in control. It can also be considered a pause in a current trend, or the early signs of a counter trend movement. So, basically, it's a neutral candle that does not provide any positive trading edge. Well...not so fast, young Jedi! In trading, it helps to be a free-thinker and avoid subscribing to what the herds say. Try to look at your charts from a diffe…
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DumbAsArock avatar

Extremely well written and presented. +1

GreenTrader avatar

good job +1

citikot avatar
citikot 4 Mar.

good job! +1 also!

foxybaby avatar
foxybaby 7 Mar.

Good strategy, would there be an automated strategy for jforex available?

fprophet avatar
fprophet 12 Mar.

When trading Engulfing Bars I believe we need to take into account any near Support/Resistance and/or significant Round numbers - and then if we are not in danger of bouncing off any these and the BBands are widening ... then it looks like easy money - but of course then there are only a few set-ups per month per instrument.

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7/48
Ranking
There's so many different strategies,
trade systems everywhere. You can see great reports, that show 100%
win ratio. So the question arises – is it really so easy to trade?
I do not think that it's easy. I think that one has to know how to
identify good reports from bad ones. So in this article I am writing
about what profitable trading means. And how to understand reports.
What
time period to use
Basically
the longer time period in a report we see, the better report it is.
Long time period we need because market changes all the time. Market
conditions change too. Market can be ranging for example for months,
but very fast it can change to a strong trend. It means that range
trading strategies will fail. Break outs trading strategies will fail
at ranging market. Good strategy has to be profitable or break even
all the time. For example if we study ranging market strategy, it has
to be profitable at ranging market conditions and at least at break
even at trending market.Below are my Strategy contest balance and rank charts from Dukascopy web page. I have to mention that my strategy is profitable when market is in ranging state.Above chart shows that equity rises gradually, but ther…
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schnitzel avatar
schnitzel 29 June

Unfortunately in the Dukascopy app it is not possible to back test for a person longer than one year. Or did I miss this?

Miha25 avatar
Miha25 29 June

good luck with this article and keep doing the good job +1

Cesar avatar
Cesar 30 June

Good article!

olchik0012 avatar
olchik0012 19 Oct.

отлично

xiaozuwei avatar
xiaozuwei 27 June

this biggest mirage in MT4 is that backtests are mostly based on interpolation data, which is far from real if your strategy is heavily based on tick feed.

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11/67
Ranking
In this article I would like to introduce you some of the most effective japanese cadlestick patterns which I trade successfully on live account. Purpose of such article is to present you very powerful and easy techniques for earning green pips without caring much about difficult strategies with many indicators, as often presented among traders. As I often say: "Less is more". I will show, that it isn't only plain, vague phrase behind such words. Also, my article wouldn't be complete without brief introduction to japanese candlestick basics. Let's start!  Japanese candlestick charting technique was originally developed in "medieval" Japan by traders with rice, who used this tool to predict the future price of this commodity on rice market. That days rice was traded on specialized places for it, such as the Dojima Rice Exchange in Osaka. In such places in fact became history of modern future contracts trading, but that is another part of a story. Construction of candlesticks:Candlestick line consists of a thick part which is called "real body" and thin lines above and below real body which are called "shadows". They can be "upper shadow" and "lower shadow".The real body is a range b…
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scramble avatar

main problem i find with candlesticks is this: you see a kind of reversal candle shape and pattern, in perfect suppl / dem area, in overall perfect conditions around. strong reversal candle (or continuation..) you wait candle closes, wait a bit "retrace" and entry: it's in that exact second you discover that price completely reversed at the 00:01 second of the new candle after the trigger one, and reverses for 20-30-50 pips against you.
happened too many times to let me believe again on it.
just my experience :-)

alifari avatar
alifari 18 May

In my opinion, candle stick pattern are more reliable on higher time frame viz. 4 hour, daily and weekly +1

andrew_d avatar
andrew_d 22 May

scramble: Yeah, u simply have to count with that in your trading plan. such reverses will always happen and we can't do much with that. Very rarely u can catch a big move in your direction without prior move in opposite way. They are meant to get rid of weak players in the market or it can be so called stop-hunting.

andrew_d avatar
andrew_d 22 May

alifari: Yeah I think the same. Nevertheless, if your determined direction on smaller TF matches the trend on higher TF, such candles are reliable more often. And vice versa.

positive avatar
positive 27 May

Candlestick patterns are the core of my price action trading. Hence whenever you write on this, it will intesrest me. want to see more form your side. +1

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11/53
Ranking

Hi traders, I would like to introduce you my trading system which I am trading on daily basis, everything described here is on LIVE trading account and most trades shown here I took - either with profit or lost. I am not native english speaker so be patient with my easy language.Let's start!I have been live trading for nearly 5 years, sometimes trading solely made my living, sometimes not. In the beginning I did all classical mistakes of newbie traders - overtrading, using way too much indicators, doing way too much everything, focusing on news, watching charts all day long (Which actually is among the most important skills u will need in profitable trading. I mean, to develop some sense for charts, price action, what is market doing, what are buyers and sellers doing, but does not necesarilly mean that u will have to sit 10 hours a day by computer). As I developed my trading skills, I understood the importance of understanding price action and more, importance of proper money management and discipline. Trading as I do it now is very simple, lacks indicators, u do not even have to watch news (maybe except those with biggest impact as is NFP).Using candlestick reversals…
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Nicco avatar
Nicco 8 Mar.

I'll try your statement ! +1

SHARKY12 avatar
SHARKY12 10 Mar.

thank you for sharing your stratgie

andrew_d avatar
andrew_d 13 Mar.

thank you for comments, feel free to ask me about details of strategy

Robertczeko avatar

interesting, thanks for sharing your know-how.

marius24 avatar
marius24 22 Mar.

this part i like the most..good analysis

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