Forex 10 Pips A Day

10 Pips A Day Forex Trading Strategy

The 10 Pips A Twenty-four hours Forex Trading Strategyis a unproblematic forex trading system for beginners and even advanced forex traders.

Must Read:How Fred Made ane Meg Dollars Trading Forex With Only 40 Trades Within iii Months And You Wouldn't Believe What Happens Next!

Currency Pairs: just the major pairs

Timeframes: 15minutes

Indicators required: five ema and 12 ema and RSI 14 with level 50.

Whilst here, you lot may as well like to cheque these out after reading this x pips a twenty-four hours forex trading organisation:

• 30 pips a mean solar day forex trading strategy
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THE IDEA BEHIND THE 10 PIPS A DAY FOREX STRATEGY AND THE PROBLEMS IT CREATES

What if yous tin only aim to make 10 pips a day? If you hitting 10 pips for the twenty-four hour period, that's information technology…you lot are done, no more than trading for the twenty-four hours.

Next twenty-four hour period, you come and aim for x pips again. If y'all hit your 10 pips profit for the day, y'all don't trade anymore.

This ways that if y'all take the first trade and that first trade gives you 10 pips of turn a profit, then you will not trade anymore because the whole aim of this trading organisation is to make x pips a solar day.

Now, the problem with this system is: what happens if your don't make 10 pips during the day?

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

Well, if that's the case, y'all need to make profit on the next 11 trades and it is the 11th trade that will give you the 10 pips y'all need for the day.

Simply then, that very thing is a big problem, considering now you lot are confronted with the problem of overtrading and you lot really don't know if the next 10 trades will all exist winners…

And so with this 10 pips a 24-hour interval forex trading strategy, in my opinion, you need to have a set up limit on the number of losing trades in a row you tin accept before you say: "that'southward it, no more trading for today."

TRADING RULES OF THE 10 PIPS A DAY FOREX TRADING STRATEGY

Sell Setup:

1. Sell when v cross 12 downside and RSI cross below l
2. place end loss 2 pips above  the high of the previous candlestick which was airtight earlier the ema crossover.
3. Take profit target is 10 pips

Purchase setup:

1. Buy when 5ema cross 12ema to the upside and RSI crosses above 50 level.
2. place stop loss ii pips beneath the low of the previous candlestick which was closed before the ema crossover.
3. Take profit target=10pips

DISADVANTAGES OF THE 10 PIPS A Twenty-four hour period FOREX TRADING STRATEGY

• you can't use the ten pips a day forex trading strategy on pairs that take huge spreads, you lot will get stopped out very easily.
• this is a trend trading forex strategy so if the market is apartment, you'll have a lot of false signals therefore I suggest y'all simply use this strategy during the London and New York trading sessions.
• yous are only restricting yourself to x pips profit per solar day when sometimes the trade y'all take, you will come across afterwards that it has moved fifty pips or 100 pips simply you only got x pips profit.
• tendency to over trade if you are nifty on getting your ten pips a twenty-four hours which means you tin blow your forex trading account hands if you lot do that.

ADVANTAGES OF THE 10 PIPS A DAY FOREX TRADING STRATEGY

• Its a pretty simple trading organization to use for even beginner forex traders.
• works really well in strong trending markets
• 10 pips profit target is easily achieved compared to something similar 50 pips turn a profit target.

"Broad diversification is only required when investors practice not understand what they are doing." – Warren Buffett

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