Thread: Forex Freeway
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Old 04-22-2006, 09:07 PM
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desoft desoft is offline
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Yass,
Thanks for the compliment. As for far as how many signals I average per week using this strategy, there is usually one or two per day. I monitor multiple currency pairs and choose the one with the best setup. Money management again is important. I try and calculate my risk to reward ratio according to the stop and potenential targets.

When taking trades I began by only taking trades when all the bars were bright in my trade direction. These are high probability trades due to market momentum. Recently, I've taken trades when only the 15, 30, and 60 bar are bright and the 240 is normal. This usually telling me of a strong retracement from the 240 timeframe. This is where fibonacci can help you for support and resistance levels. I look to take profit at these levels. Again, these trades are not as high but still can let you gain some nice pips. Another bad thing about taking trades like this is that the market could be going into a sideways congestion and you may get whipsawed out of you trade. So for beginning, I would only take trades when all four light up in you direction.

DeSoft
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