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Thread: Forex Trading Strategies & System – 2nd Chance

  1. #1
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    Forex Trading Strategies & System – 2nd Chance

    Forex Trading Strategies & System – 2nd Chance


    In Forex trading, price always gives us a 2nd chance to place our trades before it takes off.
    It can be considered as a 2nd chance or you can consider it as a confirmation bar.
    In the chart above, Aud Usd.
    We can see the first highlighted blue box showing a pin bar.
    As this was not the nicest pin bar of all. We did not take it.
    Or if just to say – we missed this pin bar for some reasons. Either by choice or we were not at the chart when it happened.
    As mentioned, price always gives us a 2nd chance or a confirmation bar – which is the 2nd highlighted blue box showing a pin bar.
    Telling us a great hint that the train is sounding its horn and is taking off – getting the last few passengers to board the train.
    Usually Most of them time, the train will take off after that, heading our direction.
    In the chart above, besides the pin bar. There are several reasons (confluence factors) which we had entered on the trade.
    1) Overall uptrend movement
    2) Pin bar at the price pivot area 0.94900
    3) Trend line confluence
    4) Double confirming pin bar
    Remember – the more the confluence. The higher the probability of the trade.
    Here’s another example:



    Forex trading Pair: Gbp Aud
    I need not explain much on this as its clearly shown in the chart.
    1) Double pin bar
    2) Price pivot area of 1.63500
    3) Swing Low
    4) Divergence
    There are plenty of examples in regards to this if you look closely at the charts itself.
    If you find this post interesting, do comment on it.

    Ezekiel Chew
    Asia's #1 Forex Mentor

  2. #2
    It’s a really superb strategy if we follow correctly but at the same time there is so much risk if we do it without any experience so we need to be very confident and also have strict money management in place in order to be successful and been trading with OctaFX always make any strategy work due to the amazing features like low spread of just 0.2 pips, high leverage up to 1.500 and many other endless benefits that we get.

  3. #3
    Junior Member
    Join Date
    Dec 2017
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    25
    For me the broker should be credible and supportive with their service system which I thing very important to get achievement by a short time. So, I select my suitable broker which is Forex4you, they have short and long both term policy in their list of trading term. I like basically short term as easily I can earn small profit within a short time beside my study as I am a student so I prefer the short term.

  4. #4
    Finally, FreshForex a broker that I can trust and trade! I had lots of bad choices before, but after working with this broker I can tell you, this is it, this is the only broker that I will work with. Withdraw is very very fast. I use Webmoney which sometimes done in just few minuets. In Classic accounts, spreads are a little high, but there is two other account types, Pro account and ECN which the spreads is low there.
    I worked in Pro account and classic, the classic account is better for me, specially because I use their rebate promotion which gives back spreads to my account. 5$ for each Lot winning trades. Their customer support is good too, I try to contact them with Live chat to ask a question they not only answer but also call me by phone too to make sure that my problem is solved.

  5. #5
    Banned
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    Jan 2018
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    Trading strategies can vary from trader to trader as per their trading objectives since each trader here is unique and his goals from life will also be different from the others. Swing; scalping; hedging; etc. are various strategic moves that are designed and developed so that traders can meet their varying needs. I believe that a perfect strategy can do a lot. Without proper trading strategy a trader can't be able to trade perfectly or very precisely he can trade but he will not be fully sure about the achievement of his trading goals.

  6. #6
    Senior Member
    Join Date
    Oct 2017
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    785
    On the first chart it was a trending market. But really didn't see the need for moving averages and MACD. The trendline alone was sufficient. Also on the second chart, support lines were sufficient though from my point of view I would not have expected it to go more than the previous support.

  7. #7
    Senior Member
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    Jan 2021
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    Traders are relying on these two types of trading more and more for their better earning. Eurotrader provides traders with both the trading opportunities and the broker charges narrow trading spread.

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