Forex Trading Strategy 10 Pips A Day

x Pips A Day Forex Trading Strategy

The 10 Pips A Day Forex Trading Strategyis a unproblematic forex trading system for beginners and even advanced forex traders.

Must Read:How Fred Made i One thousand thousand Dollars Trading Forex With Simply 40 Trades Inside 3 Months And Yous Wouldn't Believe What Happens Next!

Currency Pairs: only the major pairs

Timeframes: 15minutes

Indicators required: 5 ema and 12 ema and RSI fourteen with level 50.

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THE Idea Backside THE 10 PIPS A 24-hour interval FOREX STRATEGY AND THE PROBLEMS IT CREATES

What if you can just aim to make x pips a day? If you lot hit ten pips for the day, that'due south information technology…y'all are done, no more trading for the twenty-four hour period.

Next twenty-four hour period, you come and aim for 10 pips once again. If yous hit your 10 pips turn a profit for the day, you don't merchandise anymore.

This ways that if you take the showtime trade and that beginning trade gives you ten pips of profit, then you lot volition non trade anymore considering the whole aim of this trading system is to brand ten pips a day.

Now, the problem with this system is: what happens if your don't brand 10 pips during the twenty-four hour period?

What happens if you have ten losing trades in a row? Will you keep trading until you hitting 10 pips profit for the day?

Well, if that'due south the case, yous demand to make profit on the next 11 trades and it is the 11th trade that will give yous the x pips y'all need for the solar day.

But then, that very thing is a big problem, because at present you are confronted with the problem of overtrading and you actually don't know if the side by side ten trades will all be winners…

Then with this 10 pips a day forex trading strategy, in my opinion, you lot need to accept a set up limit on the number of losing trades in a row y'all can take before you lot say: "that'due south it, no more trading for today."

TRADING RULES OF THE 10 PIPS A Day FOREX TRADING STRATEGY

Sell Setup:

1. Sell when 5 cantankerous 12 downside and RSI cantankerous below 50
2. place finish loss 2 pips above  the high of the previous candlestick which was closed before the ema crossover.
3. Take turn a profit target is ten pips

Buy setup:

1. Buy when 5ema cantankerous 12ema to the upside and RSI crosses above 50 level.
2. place stop loss two pips beneath the low of the previous candlestick which was airtight earlier the ema crossover.
3. Have turn a profit target=10pips

DISADVANTAGES OF THE x PIPS A DAY FOREX TRADING STRATEGY

• you can't use the 10 pips a solar day forex trading strategy on pairs that have huge spreads, you volition get stopped out very easily.
• this is a trend trading forex strategy and then if the market is apartment, you'll have a lot of false signals therefore I suggest you merely use this strategy during the London and New York trading sessions.
• you are only restricting yourself to 10 pips profit per day when sometimes the trade you take, yous will meet later on that it has moved l pips or 100 pips merely you only got 10 pips profit.
• tendency to over trade if you are slap-up on getting your 10 pips a day which means you lot can blow your forex trading account easily if you practise that.

ADVANTAGES OF THE 10 PIPS A Mean solar day FOREX TRADING STRATEGY

• Its a pretty simple trading organization to use for even beginner forex traders.
• works really well in potent trending markets
• ten pips profit target is hands accomplished compared to something similar 50 pips profit target.

"Wide diversification is just required when investors do not understand what they are doing." – Warren Buffett

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