Vladimir Ribakov – The Secret of the Double Doji Forex Trading Strategy

Vladimir Ribakov – The Secret of the Double Doji Forex Trading Strategy

Description

This strategy is simple, but it works. of the most reliable setup I’ve ever seen (and oh boy have I seen a lot of Strategies in my Forex career…).

My name’s Vladimir and I’ve been following this strategy and implementing it successfully for the During the last 4 years. I believe it’s about time I’ll share its simplicity and power with the Forex traders’ community. I’m sure a lot of There are many people who want to come to this place. the place I’m in now.

So where did this strategy come?

I’m sure you’ve heard of Japanese Candlestick charts. The The candlestick theory is amazing but traders don’t give it as much importance.

The Form of the The candle can tell all. Each candle has its own story. of the complete story. All we have to do is learn how to piece together this puzzle.

The „Doji” pattern is one of the The most amazing patterns among the Japanese candlesticks It is not often mentioned. Maybe that explains why it is extensively used by pros…

The Doji These are some hints to help you. the Market is in a state of Balance of powers: the buyers’ strength has run our, but so is the sellers’. This is a state. of Temporary calm, just before a major movement

Here is where you come in.

4 years ago, I realized the Potential of candlestick analysis, and had a „New Year’s resolution” to master it. Mastering it is a term that I use to describe a thorough study of it. Be a real „candlesticks archaeologist”, no stone left un-turned.

As the As my studies progressed I realized that I hold something very precious in my hands. Its value can easily be measured in gold or other precious metals. of In ounces of it!

It is so valuable. Well, it’s a simple strategy, and I use it to make my living and take care of My family.

But… there’s another reason: four of It’s used by my best friends the The same way I feel. There’s nothing more satisfying than knowing you’ve fulfilled your dreams and helped your friends fulfill theirs. This is what it’s all about. the „Strategies for $9.99” project.

Let’s get down to business and learn how to use the „Double Doji” strategy.

First, let’s see what a Doji is:

The Doji You may see it in many ways of But shapes the Meaning of All of These are the same.

These are some of the highlights the The most common examples of Doji candlesticks:

The The meaning of that is the Prices for opening and closing of the Candles the same. Keep in mind that each candle represents an amount of time. For example if you’re looking at a „1 hour” (H1) chart, each candle represents one hour of Market activity

Thus, the hour began with a set price The Buyers fought the They each pummeled each other, and then in the End the Price stayed the same.

Imagine a bout of arm wrestling between two world champions. The fight commences, each pulls to his own side… they invest a lot of force, sweat, their muscles tremble… but no winner yet… until the Moment when one of They decide to end it.

This is very similar to the situation in the Market and portrayed the Doji pattern. The Doji It is a wrestling match between buyers and sellers that continues until one. of the Sides puts down enough force for victory.

Imagine what will happen if you see two Dojis instead of one!

This is a war between sellers and buyers. You are more likely to get a knock after such a war.-Out winner. This means that there is a high chance of winning after two Dojis. of A strong move. A move which I’d certainly would like to take a part in.

This is why the This strategy requires that you identify two Dojis, one before. the other. It is preferable to the Two Dojis will appear in the wake of a strong trend, such as an up or down trend.

Notification: A candle with a body of Just a few pips.-4 pips is considered to be a Doji.

Let’s look at some examples…

Example 1Two Dojis in succession (the two rightmost candles):

Example 2: Two Dojis after an upward move

After you’ve spotted the two Dojis comes the Second condition:

You should also mark the Borders of the two Dojis. As you can see in the screen shot below, I’ve marked the Lower and upper borders of These two Dojis are:

…and here’s another example of marking, plus what happens next…

…once the The border has been crossed. I am awaiting a move so I can get in. the action.

The Third condition of This strategy:

Place two pending orders. One in the case the market breaks the Upper border of the Dojis (one pip above it is sufficient) and one for each case the market breaks the Lower border (1 pip below).

Get it now Vladimir Ribakov – The Secret of the Double Doji Forex Trading Strategy

Now, you must arrange for the Stop Loss of the trade:

Place an order to buy (long) the Stop Loss 1 pip below the Doji’s lower border.

Place an order for a sell (short) trade the Stop Loss 1 pip above the Doji’s upper border.

Get it now the Parts that are more joyful of determining the Profit target, or the Sum of This trade will bring you the maximum profit possible

I’d like to present to you 3 different methods of Manage this trade. They have all been rigorously tested and shown to deliver impressive and consistent results.

So, why do we need three different methods? Because each one of each person has their strengths and weaknesses. Some traders find it difficult or impossible to keep a trade going for a prolonged period of time. of time. Others like to profit quickly, even when it’s not enough. Others have lots. of You must have patience and be able to hold onto a trade without fear.

Trade management method 1

Profit equals Take Profit the Stop Loss.

Take, for example.My Take Profit is 50 pip and my Stop Loss 50 pip.

The % of The percentage of winning trades is 70% if you keep trading consistently the You can make a lot of money.

Trade management method 2

This one is my favorite. You can open two identical trades.

The first, a Stop Loss equals the Profit. The Second has a profit goal of double. the Stop Loss. Take Profit: 100 pips, Stop Loss 50 pips

It’s a good idea to move the Stop Loss the Opening Price of the trade („Break Even”) once the First trade ended in profit

Here’s another trade example:

You might have noticed that my first profit goal was the same as mine. the Don’t Lose, the The second profit target should be doubled the Stop Loss.

Not to be forgotten: the double Doji After an up movement that consisted of of 3 green candles in one row The Reliability of Such a trade is very expensive!

Trade management method 3

One trade can be opened with a profit target of 50% the Stop Loss. Let’s say I determined the Limit Loss to be 50 pip, the 25 pips would be my first target. This is where I’ll close 80% of the trade.

For example, if I opened 1.0 lot, I’ll close 0.8 lots once the 25 pips are reached. 1 x 0.8 = 0.8.

The For the second profit goal, the The remaining 0.2 lots would need to be doubled. the Stop Loss. Continue thus the In the previous example, my Take Profit would have been 100 pips.

A few tips before I leave you to enjoy the strategy:

• Work best on the 1-hour, 4-Hours and daily charts
• The The best currency pairs the Ones that include the USD and also all the Yen crosses (EUR/JPY, GBP/JPY, AUD/JPY etc.).

For your convenience here’s a summary of the rules:

• Two Dojis should be placed in a row. It’s better when they appear after a clear up or down trend (minimum of Three green or red candles per row
• Mark the Grenzes at the upper and lower ends of these Dojis’ highs and lows.
• Do not wait for one of the Borders to be broken. You don’t have to wait. Just insert 2 pending orders.
• If one of the orders executed, I’ll cancel the Another one. You can choose one of the Follow these three methods to manage trades the letter.
• Profits can be collected.

I’m proud to have the Opportunity to show you how to make it a success and help you reach your financial goals.

Good luck with this week’s trading,

To your success,

Vladimir Ribakov

Forex Trading – Foreign Exchange Course

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Foreign exchange (or forex) is the Conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the Laws of Demand and supply
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. Dollar or to a Basket of currencies.
A country’s currency value may also be set by the country’s government.
However, many countries allow their currencies to be freely float against each other. of They are constantly fluctuating in other countries.