Data US Dollar Takes A Pounding » Search this Thread LinkBacks? Prices on all three timeframes must be above/below their smas, this is the one forex pivot point indicator free download rule I will NOT bend! What is happening around me today? Stop-losses If it doesnt work out, get out What size stop-loss should I use and where should I place my stop-loss?
The D pair will pullback some of the time after it has broken the high. Stop-Losses: This is where you can make this system your own. I like to use this system as a guide in addition to my own market knowledge.e.
Like a lot of trading systems it will be more productive when prices are moving in one direction and not stuck. Looking for help in strategy. Add The 3 Ducks Trading System to digg Add The 3 Duc ks Trading System. Trading in direction of the long trend is the best forex strategy. 71#3 Duck s Trading System.
Now customize the name of a clipboard to store your clips. THE possibility exists that YOU could sustaioss OF some OR ALL OF your initial investment AND therefore YOU should NOT invest money that YOU cannot afford TO lose. For me to explain this system as clear as possible lets have a look at the chart below; From this chart we can see that prices where below the sma, then prices crossed above the sma, this would mean that all our three ducks where. This system can be applied to any currency pair just be careful to take into account different currency personalities. We would now be looking to buy when prices move above the last high (two candles to the left with lower wicks and two candles to the right with lower wicks) on the 5 min chart. Getting started You can use most of the free charting packages to plot the system. By the way, a pip is a pip and a dollar is a dollar, they are two different things and not to be confused! There is nothing stopping you from entering or adding to winning positions when the current price is higher/lower than the first move as long as all your ducks are still lined up in the same direction you could still be looking for opportunities on pullbacks. You should now have three charts that look something like this:. Kind Regards, # 6 shadowninja 5,524 Posts Joined Jul 2007 Yeah, I realised this, but for scalping purposes, I would have thought 1HR, 15Min and 3Min would work? Support or resistance off a 1 hour chart or lower timeframe may be useful as a stop-loss location for a day trader. No Downloads, no notes for slide.
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