50 Pips a Day Forex Strategy
The 50 pips a day forex strategy is a forex trading strategy. This is a very simple and strategy that is used for trading. This is easy in use and easy to understand. The profit can be gained from this strategy after day by day. The 50 pips a day forex strategy gives allow traders to gain 50 pips in a day. This depends on the trader behavior that how much he can acheive profit. This strategy is best for the traders who are at the starting point of the trade or we can say them beginners.
This strategy is also beneficial for the traders who have great experience in the market trading. This is a 1 Min Scalping strategy that provides a good benefit for the traders. Either they have much more experience or little experience.
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There are different levels in this strategy like entry level, exit level and stop loss level. Here in this artical we will describe you that how a great benefit with this strategy can be gained. It is also important to know that how can a trader save himself in trading from risks and other problems. If a trader want to achieve aall these features in the trading then he should must be used a easy and consistent forex trading strategy.
The 50 pips a day forex strategy is a forex trading strategy that can be used with any currency pair that are listed in the forex market trading. This can also give information about the enry and open and close values of the trading.
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In case if a trader does not gain profit in the trading then may be he did not use a good strategy or a strategy that contains on rules for the trading. So before strat a trade in the market a trader should msut be keep in mind that he should always select a rule based trading strategy.
Best option for beginner
The 50 pips a day forex strategy is a forex strategy and follows the forex trading rules for the trading. This trading strategy is a good option for the beginner traders to make chances of earn money. Specially this much bettter and suitable for the traders who have not a great experience in the trading.
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There is no need of highly complicated knowledge and price pattern information of the indicator. Even a person with little knowledge can do trade with this 50 pips a day forex strategy.
Risk involvement
No doubt that this is a simple and easy strategy but there are also some drawbacks of this strategy. If it is simple but it in every strategy there must be some chances of the risk. So risk management always plays a great and important role in managing the risks in the trading strategy. So for the risk management use the main currency pairs for the trading if you are using 50 pips a day forex strategy.
Key factors
There are some key points that a trader must be keep in mind if he want an easy and simple trade with this 50 pips a day forex strategy.
1) Using this strategy there is no need to use any forex type indicator for the price actions because the 50 pips a day forex strategy also provides accurate and correct vlaues of the price trading actions.
2) 50 pips a day forex strategy can be used for any time frame. But we will recommend you to use it for a day trade that can be for an hour in day or any other time frame. This completely depends on the traders choice.
3) As this is a forex trading strategy so this can be used with any forex currency pairs but for the beginner the main currency pairs are good options in use for trading.
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Basic rules for 50 pips a day forex strategy
- There are two type of orders in this trading the on is buy and the second is sell order.
- If the sell and buy price active then at this time if other foctors are also activated then all the activated factor will automatically close except the sell or buy option.
- There must be a level for the stop loss for the management of the risk. The stop loss level can be set in between five to ten pips. In the stop loss level there is distance that is measured an that then calculates the level of loss. The distance can be increased according to the stop loss situation. This can be go upto 15 pips to 20 pips.
- Before starting your trade set your goal to get 50 pips profit in the trading. If you are successful in achieving the target that you want then this is a good practice and a wonderful strategy for your trade to earn money.
Technical Analysis
The 50 pips a day forex strategy can also be used for technical analysis of the market trading. With the help of technical analysis the market trend can be known. This helps to know the trend strength. This can also tells the trend direction that the trend is going on upward direction or down word direction. In this strategy the time breakouts and pull backs are also involved.
In some conditions the trader can make 20 to 50 pips in a day that proves that this is a good technique for gaining profit.
The time frame depends on the traders choice. But no always it is sure the availability of the 50 pips in a day. This is only for some situations. Commonly there is a possibility of 20 to 30 pips in a day.
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But this is a tough level for the traders to gain it normally because for some conditions this is impossible for the traders to reach at this normal level in a day.
Limitations
The cannot exceed from the 50 pips in day. There is a limit of gaining 50 pips in a day. If the orders will not be canceled during the activation of the other order then both orders will be badly stopped. The 50 pips a day forex strategy is not good for more then many strategies.
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Source: https://indicatorchart.com/50-pips-a-day-forex-strategy/
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