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A very clean and extremely profitable day trading system that does not
use technical indicators of any kind, but only concentrates on reading the
price action. It focuses first on the bigger picture to find out which of the
buyers and sellers are more powerful at any given time and then uses
this information for day trading on smaller timeframes with the help of
very strong patterns that price makes. This is all you need; this is all this
system needs in order to deliver a thousand pips per month or more.
Beginner traders often think that for achieving success in the foreign
exchange market, they have to invent something, to be unique, to come
up with some complicated trading techniques that no one else has
thought of before. This is very wrong. Forex is not about uniqueness at
all, it is about a very large group of people buying or selling at the same
time. The more people that buy or sell at a given level of price, the
greater are the chances of success. If you develop a unique strategy and
then start to buy or sell according to it, the levels of price where you
buy/sell will be overlooked by the majority of traders out there, they will
not do the same thing you did because they don’t know your unique
system, and they don’t base trading decisions on it. In conclusion, you
always have to go with the crowd not against it; the more obvious and
well known things are by the people out there, the greater the chances of
success. This is in part what makes this trading system very profitable, it
works with very clear, very popular and easily identifiable price patterns.
Being very popular, most traders watch them closely and trade them
when they finally break. Another important part that makes this system
profitable is trade management techniques, knowing how to set and trail
manually your stop loss levels in order to obtain the maximum from every
trade. All of this being said, let us go deeper into the components of this
trading system.
Forex Strategies resources is a collection free resources for trading: forex strategies, binary options strategies, trading system, indicators,chart patterns, metatrader indicator, candlestick analysis, forex e-book and use free online forex tools, free forex trading signals and FX Forecas
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