10 pips a day forex strategy
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KAZAKHSTAN CRYPTOCURRENCY BLOCKCHAIN
Viber Introduction Every trader loves the idea of winning on each trade they take. After all, winning is the sole purpose of trading. Various strategies in the market promise to offer profits every day, but none of them are good enough to make you win every single trade you take. In the end, almost all of the traders wish for a method that could reap them good profit every day.
But as we all know, trading is less about making money and more about saving your capital. For this same purpose, we have created the 10 Pip Loss Strategy. The strategy suggests that we must take two to three trades a day by placing only ten pips stop-loss and go for bigger targets. If we lose two trades and end up winning one, we will be losing only 20 pips, but the gains that are earned on the third trade can be more. By following this strategy, our primary focus should be on taking three potential trades in a day.
Apply the double moving average indicator to the price chart. Go with 9 and 14 periods. Wait for the pullback to happen, and the price action must hold below the double moving average. Look if the Stochastic is reversing at the oversold area. Go long if all the above rules are met. Place the stop-loss just ten pips below the entry. Take profit placement depends on the market state.
If the buyer movement is strong, expect a brand new higher high; if the momentum is a slow, exit at the most recent higher high. As you can see, both the indicators gave us a trading signal at around AM. We activated our trade when the price of the asset is 0. It went a bit up and suddenly dropped down to hit our stop loss.
As a result, we ended up losing the trade. The best thing is that we lost only ten pips. We took this trade on 22nd April at around AM. When the moving average went below the price, the Stochastic gave a reversal at the oversold area, indicating us to go long in this pair.
Right after we went long, the price action blasted to the north and printed a brand new higher high. This means that you take the first trade and that first trade gives you ten pips of profit; you will not trade anymore because the whole aim of this trading system is to make ten pips a day. What happens if you have ten losing trades in a row? Will you keep trading until you hit ten pips profit for the day?
Take profit target is ten pips. Place stop-loss two pips below the low of the previous candlestick closed before the ema cross.
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