30 pips a day forex trading strategy

see price fall back down but this downward move is often temporary. You see 10 ema crossing 26 ema and goes down. Your trading account can get wiped out with one trade if you dont respect the risks in trading. Ive never looked at the stock market but again, this is a breakout trading strategy using support and resistance. GMT candlestick closes, you have to place two opposite pending orders: a buy stop order 2 pips above the high and and sell stop order 2 pips below the low of the 7 am GMT candlestick. Your stop loss distance would be entirely dependent on the length of the 1hr candlestick plus the 5-10pips you need to add onto to ensure you do not get stopped out prematurely. Can I use any currency pair? Basically, when 10 ema crosses 26 ema and goes up, thats an uptrend. Then, you buy immediately when a candlestick gets into the traders action zone halfway between the 10 EMA and 26 EMA. Place you stop loss anywhere from 5-10 pips pips above the high/low of the 7am GMT candlestick after it closes(or has formed). Yes, although you will have to live with missing some trades at times.

30 pips a day forex trading strategy
30 pips a day forex trading strategy

30 pips a day forex trading strategy
30 pips a day forex trading strategy

If 10 EMA intersects 26 EMA and goes down, there is a downtrend. Here is one of the strategies he suggests. Just as often though, price will take off and not look back leaving you on the sidelines. If you trade during the Asian trading session, you need to reduce your take profit target to 20 pips etc because generally, gbpjpy does not much much like it does on UK and New Your Trading Sessions. Therefore, the aim is not to capture all that price move during the day but just a little part of it, something like 30 pips and thats where the 30 pips trading system comes. We know that gbpjpy is a volatile pair and price can travel on any given day from 100-200 pips. Set your take profit target at 50 pips. So what this strategy is all about is trying to capture the move early on during the day before the days move happens. Check chart below for clarity. You do not buy immediately when the ema have a cross over, you wait for a retrace.

It does really look promising. Disclaimer: I have not tested this 50 pips a day forex trading strategy apart form just a quick back tested results shown below but  tell you what? The trade setup is quite clear but like any trading strategy, risk management is vital for your overall success. Are free trading techniques like this one just as good as paid? I think this is a great day trading strategy for beginners because you do not need to learn complicated indicators or price patterns.