50 Pips A Day Pdf Free Download
Jovan Lounsbery
The 50 pips a day forex strategy is a forex trading strategy. This is a very simple and strategy that is used for trading. This is easy in use and easy to understand. The profit can be gained from this strategy after day by day. The 50 pips a day forex strategy gives allow traders to gain 50 pips in a day. This depends on the trader behavior that how much he can acheive profit. This strategy is best for the traders who are at the starting point of the trade or we can say them beginners.
The 50 pips a day forex strategy is a forex trading strategy that can be used with any currency pair that are listed in the forex market trading. This can also give information about the enry and open and close values of the trading.
The 50 pips a day forex strategy is a forex strategy and follows the forex trading rules for the trading. This trading strategy is a good option for the beginner traders to make chances of earn money. Specially this much bettter and suitable for the traders who have not a great experience in the trading.
No doubt that this is a simple and easy strategy but there are also some drawbacks of this strategy. If it is simple but it in every strategy there must be some chances of the risk. So risk management always plays a great and important role in managing the risks in the trading strategy. So for the risk management use the main currency pairs for the trading if you are using 50 pips a day forex strategy.
1) Using this strategy there is no need to use any forex type indicator for the price actions because the 50 pips a day forex strategy also provides accurate and correct vlaues of the price trading actions.
2) 50 pips a day forex strategy can be used for any time frame. But we will recommend you to use it for a day trade that can be for an hour in day or any other time frame. This completely depends on the traders choice.
The 50 pips a day forex strategy can also be used for technical analysis of the market trading. With the help of technical analysis the market trend can be known. This helps to know the trend strength. This can also tells the trend direction that the trend is going on upward direction or down word direction. In this strategy the time breakouts and pull backs are also involved.
The time frame depends on the traders choice. But no always it is sure the availability of the 50 pips in a day. This is only for some situations. Commonly there is a possibility of 20 to 30 pips in a day.
The cannot exceed from the 50 pips in day. There is a limit of gaining 50 pips in a day. If the orders will not be canceled during the activation of the other order then both orders will be badly stopped. The 50 pips a day forex strategy is not good for more then many strategies.
The 50 pips a day forex strategy was developed to trade some of the major currency pairs. Traders use this technique to spot the early market move of the trading instrument. As a rule, the strategy mainly applies to EUR/USD or GBP/USD. However, you are free to make experiments in an effort to integrate it with other traded assets.
The main benefit for beginners is the fact that Forex trading 50 pips do not require in-depth research or market analysis. It is very simple to uptake although you are still supposed to understand how various indicators work as well as how to read different trading charts or patterns.
The first thing you need to know before setting up the 50 pips a day trading strategy is the fact that it was developed for day traders. If you were a swing trader, you would rather prefer using in-depth technical analysis with oscillators and other indicators that ensure a clear vision of the market moves in the long run instead of shirt timeframes.
Now when we have everything needed for the 50 pips a day Forex trading strategy, we can actually start trading. To make the most of the tactics, traders should keep in mind several essential rules that refer to a chosen technique. Here are some of the most important ones:
Provided the forex pair we want to trade satisfies the above conditions ( >= 100 Pips ADR) for a 50pips a day trading strategy. To put into practice this strategy, there is a simple trading plan that must be followed in order to arrive at a high probable buy or sell trade. They include the following:
If price movement does trade above the high of the 7 am candlestick, set a buy limit order at the high of the candlestick. This order will have a stop loss just below the candlestick and 50 pips profit objective.
Also, if price movement does trade below the low of the 7 am candlestick, set a sell limit order at the low of the candlestick. This order will have a stop loss just above the candlestick and 50 pips profit objective.
The 50 pips a day forex strategy is a very straightforward strategy with a simple setup that is easy to follow. The strategy has a record of consistent profitability but just like every other forex trading strategy, losses can also be incurred when trading with the strategy.
Having a directional bias is a great idea. There are times when the long-term direction of the market could be bullish and a daily range might close as a bearish candlestick. In this case, you will have to miss a lot of pips on bearish price movement. The same applies if you decide to only take buy trades on a bullish directional bias.
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