You will definitely agree if I say using forex trading strategy can improve the chances you being a successful trader.
And that is true.
Many traders like to imagine having a strategy that…
… can bank them money almost all the time.
I am here to take away that imagination and give you in reality the strategy that will make you earn in the Forex market most of the time.
You will learn the benefits of this strategy, then the guarantees and after that you will learn how to use the 50 pips a day strategy then, you will finish it up with some additional tips and warnings.
So let’s get started.
Benefits of Forex Trading Strategy
Here’s the deal:
Do you know that most traders struggle with discipline?
This strategy can help you to be a little more disciplined, you will still need some discipline though, however, it is very minimal.
Are you currently down and wants a way to quickly get back to the Forex market? Then you’ve got yourself something.
And here’s a tip…
Never start using a strategy with big amount of money.
You want to familiarize yourself with it first.
Then after sometime – 2 weeks or more, and you are sure to know how the strategy works, then you can invest a large amount into it.
So, you can implement this Forex trading strategy with small amount of money.
Disclaimer: No strategy works 100 percent of the time.
But if you found one that has a lot of potential, I advise you grab it.
Are There Any Guarantees
This strategy is all about getting 50 pips every trading days of the week.
But you and I know that there are no guarantees in life – just joking.
Not in life, but in Forex trading.
No strategy works all the time you just have to stick with the one that makes you profits almost all the time.
What you should know is that this strategy is systematic and you can easily tweak it if you’ve got something to add to it.
How Does The 50 Pips A Day Strategy Works?
And this single world is broken down into sections.
There is the UK section, the US section, the Asian section and so on.
So here’s the idea.
As any of these sections opens, we trade just the currency pair that dominates that section.
Take for example, when the UK section opens, you will trade the GBP/USD. Or you trade USD/JPY when the Asian section opens.
You will take first hour range of the major currency pair you choose.
Then you draw a horizontal across the high and low of the first hour bar.
Here the magic…
You will go long if the chart exceeds the high of the first hourly bar, and alternatively, you will go short when the chart drops below the low of the first hour bar.
After placing you trade, you aim for 50 pips.
Using the image above:
I have drawn horizontal lines on the first hour bar. In my case, I am trading GBP/USD and it opens at 8 am in the UK.
Because the chart goes below my low horizontal line, I am going to go short – sell. And if you count 50 pips down from the low line you will see that I have made profits.
That’s it. You get your 50 pips and get out. It’s simple as that.
Now that you know how to apply this forex trading strategy, lets discuss the little precautions you might need to apply to be on the safer side if anything bad wants to happen.
Forex Trading Strategies Enhancement Tips
Do little research about some parts of the strategy. For example, in the 50 pips a day strategy, you should know when the different sections in the trading world opens, and you should be able to convert those times to you own local time.
Another tip you should always implement is using the stop loss and take profit. These two techniques can be a life changer if you choose to use them.