50 Pips A Day Forex Strategy Download
50 Pips A Day Forex Strategy Download – Hello friend of traders, this time forextradingwin.com want to share about 50 Pips A Day Forex Strategy Download.
The 50 Pips A Day Forex Trading Technique is developed to capture the very early market action of GBPUSD or EURUSD.
I’f you are searching for forex trading methods that work, this trading system is one you should try it out for a few months since it has excellent potential.
If you go and open up your EURUSD or GBPUSD graph as well as go to the daily duration, you will certainly see that these couple of money pairs relocate greater than 100-150 pips daily.
So this foreign exchange trading strategy is tries to capture a minimum of half or one third of that daily price move in a considerably earlier phase prior to it in fact takes place.
Your trading orders have to be placed at the close of 7am GMT candlestick (1 hour candlestick). See to it that the moment you see on your MT4 graph matches that of 7am GMT. If not, ask your forex broker.
ESTABLISHING YOUR GRAPHES
Forex Indicators: none needed
Timeframes: 1 hr only
Money Pairs: Just GBPUSD and EURUSD
THE TRADING RULES OF THE 50 PIPS A DAY SYSTEM
- As soon as the 7am GMT candle holder closes, you have to position two other pending orders: a buy quit order 2 pips over the high as well as well as market quit order 2 pips here the low of the 7 am GMT candle holder.
- When rate switches on among the pending orders, you terminate the various other pending order that has actually not been switched on.
- Your quit bathrooms must be placed anywhere from 5-10 pips over the high/low of the 7am GMT candlestick after it closes(or has actually developed). If you see that the 7am GMT candlestick is also brief and that positioning the stop loss will be as well close to the entry cost, after that enhance your stop loss distance to anywhere from 15-20 pips.
- For take profit, established it at 50 pips.
- After you’ve done all the above, leave the profession to run. Do not do anything.
- If your trade reaches it make money target for the day then outstanding! Repeat the very same process tomorrow.
- If you trade has a floating profit or a floating loss, wait until the end of the day and also leave your profession, no matter if you have a revenue or loss.
Lets appearance as some trading Instances, refer to chart here: each upright dotted line you see drawn on the graph stands for the 7am GMT time and they are spaced 24hrs apart (1 day).
QUICK BACK TEST RESULTS
Referring to the graph over of EURUSD:
- evaluated the “what if” situation of the most recent 6 days that have handed down the EURUSD chart.
- complying with the policies of the 50 pips a day trading system, there would have been a total of 6 trades (omitting the day that is now currently running) causing 4 trades becoming champions and 2 losers.
THE BENEFITS OF THIS 50 PIPS A DAY TRADING SYSTEM
- you can just take 5 professions a week. The very best feature of that is that you could not overtrade, its 1 profession a day system, really.
- stop loss range is not as well much due to the fact that it depends on the length of the 7am GMT 1 hr candle holder. You will be checking out anywhere from 15-25 pips stop loss indicating your danger to compensate ratio will certainly be 1:2 or 3 at one of the most.
- its a truly excellent cost activity trading system.
Currently you recognize the rules so why not go back to the past, pull up your graphes and also do some fast backtests to see how this trading technique accumulates?
Or if you excel at coding, why not create an expert consultant to ensure that you man assess this trading system utilizing a whole lot even more price point data from years prior?
DO N’T FAIL TO REMEMBER!
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