Compassfx D.O.T.S. Method

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Description

Malone, Dean

Trading Guidelines:

The DOTS Levels are determined by the Daily Open: Australian, Tokyo, Midnight New York, Europe, London, or United States.
Trade at the Buy Entry or Sell Entry levels.
Exit the trade at the Stop Loss level.
Consider either a partial or complete escape at Target 1.
Consider exiting the whole position at Target 2.
If the market retains the Daily Open bias, consider re-entering.

[What exactly does this mean? If price retraces to the Daily Open but then rebounds back,

When the Buy or Sell Entry is reached in the initial direction away from the Daily Open, consider trading in the original direction again.]

Other indicators, such as the Trader Dynamic Index, can be used to validate the trend and market direction.

To ensure that the time session features operate with all brokers, the Broker GMT time difference must be explicitly configured.

If your broker time is not showing correctly (compare it to the time in the Market Watch at the top left of your platform), then make a note of the difference it is to the GMT showing on the cloaks, most brokers are normally ahead of GMT, enter that difference in the ‘Broker GMT offset’ entry and check the broker time is correct.

If you wish to keep the chart clocks on, you may turn them off in the indicator settings. If you want a brighter backdrop color, you can also modify that in the settings.

Forex and Trading – Foreign Exchange Training

Do you want to learn about Forex?

Foreign exchange, sometimes known as FX, is the exchange of one country’s currency for another.
A country’s currency is valued according to supply and demand laws in a free economy.
In other words, the value of a currency might be tied to the value of another country’s currency, such as the US dollar, or even to a basket of currencies.
The government of a country may also establish the value of its currency.
Most countries, however, freely float their currencies against those of other countries, causing them to fluctuate constantly.

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