20 pips daily
Fxfisherman forum appears to be an ideal platform for discussing profitable trading strategies. Please, I need a trading system that can guarantee a 20 pips profit daily. I'm not willing to risk more than 20 pips also. Can anybody be of help with this?
there is no "guarantee" in forex world
Hello i will like any one to help me with easy forex indicators and strategies
hello,i find too
I have been trading Forex for 5 years now and am a new poster to this forum. I belong to several others and might be able to help you. So here we go:
Basics
1) Start with a mini-account with $250
2) Risk only 2-3% on any trade. 3% of $250 is $7.50 of margin.
3) I suggest with this size of margin, each pip to start needs to be $.10. This gives you a stop loss of 75 pips. If you use $.20 per pip, it's about a 37 pip stop loss. +++20 pip stop losses are not realistic in the Forex or any market+++
Trading system I use: SRDC ( Support-Resistance-Daily-Chart)
Time Frame: Daily
Pairs: Any, but works best on EUR/USD.....IMHO
Mark high and low of previous day
Place 2 pending orders. A buy stop 2 pips( or whatever your broker spread is) above the high and 2 below the low. Set stop loss at 40 and take profit at at least 80. If you want, you can use a trailing stop of 30.
Backtest this and see what you think. Works for me and has for years.
Good luck and let me know if I can answer any questions.
I am a new trader in forex and I would like to get some tips in how to get the best of Metatrader. I got the supports and resistance down and those have helped me in my trading but I need more info. Please!
I am a new trader in forex and I would like to get some tips in how to get the best of Metatrader. I got the supports and resistance down and those have helped me in my trading but I need more info. Please!
I'm not sure what you mean here. If you place the 2 orders as I have outlined, they either get taken or not. You need no other indicators using this system. Please try on a demo account for awhile to get the feel of setting up the trades. You place the orders at whatever time your broker starts a new day. For me with IBFX, that's 00:00.
So how many pips should I expect in one day if I am trading on a 15 minute period? 20 pips a day sound like nothing but it really depends on the volume you have behind. Or what they call the capital. The more you risk, the higher the income or outcome.
From what I learnt in the tradeview mini course, any positive outcome is good. It doesn’t matter if it’s 10 pips or 200 pips; all are earning so take them and run with them. Of course 200 is a lot better than 10, 10 is still good. Think about i
Is it worth to earn only 20 pips per day? I know that any positive figures are good for the business but, is it really a way to fix the benefit in 20 pips a day? How big is the risk of losing 20 pips… or more
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Fxfisherman forum appears to be an ideal platform for discussing profitable trading strategies. Please, I need a trading system that can guarantee a 20 pips profit daily. I'm not willing to risk more than 20 pips also. Can anybody be of help with this?