50 Pips a Day Forex Strategy Metatrader
Description
50 Pips A Day Forex Strategy
Start making consistent profits in the forex market
Components
- Support and Resistance
- Candlesticks
- Moving Average
- Timeframe - 4 hours chart
Summary
This is a very clear and simple to follow forex trading strategy to get you started achieving consistent profits day after day trading the forex market. It will make you 50 pips per day or more every day. It is ideal for beginner traders but it will give a great deal of help to more experienced traders that have not found a clear strategy to make profits consistenly
It is easy to understand and to put in practice.
It has very well defined entry, stop loss and exit levels.
How to Build a Solid Trading System
Apart from the strategy, this book also contains a very useful guide that teaches you how to construct a profitable forex trading system for yourself and how to avoid trading and money management mistakes
Are you new to forex trading or just started to trade on a live account but with not much success ?
You need a solid forex trading system based on sound principles of the forex market, that has clear trading and money management rules
Do you have a forex trading system and you have been trading with it for a period of time but still you don't have the success you hoped for ?
This can only mean that your trading system does not take into account the basic trading rules and principles that any powerful forex trading system incorporates
This book teaches you how to construct your own powerful forex trading system, what are the most important forex trading tools that you must include in it, what not to include in your forex trading system, how to apply solid money management rules and equaly important, how to avoid making trading mistakes that will cost you when you start to trade with your newly developed forex system.
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Foreign Exchange
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All categories
About the author
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Book Preview
50 Pips a Day Forex Strategy - Laurentiu Damir
levels
Introduction
Before you start to construct your trading system, you must first think about what is the trading style that suits you better. Do you want to sit in front of the computer the whole day entering and closing trades on the 5 minutes time frame or do you think that trading on a higher time frame will suit you better? My advice to you is very simple and clear: always seek to trade on the higher time frames. It is easier to trade this way and it will make you much more money in the long term. If you are a beginner in trading, it is best for you not to day trade until you gain experience. Trading on small time frames carries high risk due to short-term random moves that are almost impossible to predict. Not to mention that trading this way makes you vulnerable against economic news events that come out multiple times per day and usually have a big impact on the small time frames. Even after you get more experienced by trading successfully on the higher time frames and you think you are ready to day trade, my advice is do not trade on any interval smaller than the 30 minutes. Moreover, when you do decide to day trade, consider it as a backup trading style, day trade only when there are no trade setups according to your system on the higher time frames. Always seek to trade on the higher time frame. Nevertheless, as I said before, if you are a beginner trader, and you probably are, I strongly recommend that you develop your trading system around a higher time frame like the 4 hours or the daily. Forget about day trading for a while. Build your trading system and trade on the 4h/daily charts until you start to add to your account consistently.
Components
With the above in mind, the next thing you should decide is what you will include in your trading system from the technical point of view to help you win as many trades as possible. Decide what will be the core technical parts of your trading system. From my experience, I can tell you which are the tools that work best in forex trading, that have a great rate of success and they repeat over and over again with excellent results. These are price trends, support and resistance levels, Fibonacci ratios, price patterns and bar patterns/candlestick patterns. These are the things you should consider including in your system. They are the most
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Reviews
What people think about 50 Pips a Day Forex Strategy
4.4
Reader reviews
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Very informative & a straight forward approach. Easy to read.
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Good book and strategy. The photos should be more aligned with the text, so you can make the connection.
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It's easily digested for a beginner and easier to follow.
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Great Strategy, at least it sounds good, let's try it. Excelente estrategia, veremos si funcionan.
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Very clear & easy to read. Great strategy to use.
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Good explanation, English is not my first leanguage either but it was actually very good explained and understandable
50 Pips a Day Forex Strategy Metatrader
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