50 Pips daily system

Forex Trading Nigeria

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Posted by on Wednesday October 3, 2012 15:45:34:

What if you could make a steady 50 pips daily gain from trading major currencies? Well for those who are not greedy for hundreds of pips, you can use the early bird system to trade a steady 40 to 50 pips daily depending on where the market it going.

The idea behind this is to trade major currency pairs that can spike or fall as high as 80 pips on a daily trading basis. The currency I prefer using this for includes the EURUSD (aka EU) or GBPUSD (aka GU). These are currencies that tend to have higher movement during their trading sessions. The EU for instance tends to vibrate high during the European and US session and this is around 9am to 4pm Nigerian time and our goal is to make an early entry and exit just as the market starts out and when we reach our target, we then wait for another opportunity the next day.

So let's assume we log into our portal at around 6 am or 8 am, we get to see the highs and the lows of the currency. Then you can set a buy stop order targeted at that low price in case it hits . We also set exit stop loss point for it.


Assuming we have:
Currency EURUSD
4 hr trend: Bullish or Bearish

We look at the 4 candles on a 4 hr chart and see if the market is bullish before placing a buy or sell order.

If Bullish, we set a buy stop by placing a buy order close to day's low e.g. at around $1.2800 and a stop loss at around 1.2760 ie. 40 pips below while also setting a stop profit target at 1.2850 i.e. 50 pips.

If Bearish, we set a sell order close to day's high e.g. at around 1.2900 and stop loss at around 40 pips ie 1.2940 while we can set a target profit at 1.2850.

So when either target gets reached we close in on profits and if you were trading 10000 units, that would be a $50 gain. You can decide to trade 1000 units to keep your gain or loss between $5 and $4.

The focus is to gain from actual market movement rather than scraping from ranging prices and when the market moves, it can go higher than 50 pips. You have to enter the market early in the morning.