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Originally Posted by BarryPips
From a cursory look, it appears that NickB on the Forex4Noobs site uses support and resistance as his trading signals. Round numbers act as support and resistance, also. Perhaps the thread starter is not as wrong as you might think.
NickB seems to suggest that if prices move through S or R lines then the moves are likely to continue.
Just my two pips.
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NickB's system is a lot more than trade on round nos.
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it may be working VERY WELL for YOU BUT there is a WHOLE LOT MORE to this business than trading 'psychological lines'.
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The most important part of the o/p's thread starter is,
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Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.
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Have fun.