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The "Trend Following Strategy" is based on identifying and capitalizing on long-term trends in the forex market. The strategy involves determining the trend direction using technical analysis tools, selecting entry and exit points with patience, setting stop-loss levels to limit potential losses, and identifying profit-taking points to secure gains while allowing a portion of the position to continue riding the trend. Success relies on discipline, avoiding emotional decisions, and adhering to a predetermined plan while considering the risks associated with the potentially high returns the strategy can offer.
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