Anmeldung neuer User » How do I get 50 pips in a day in forex?

The whole idea of the 50 pips forex trading strategy is to capture just 50% or 33% of the daily range move of the currency pair. And usually, the best times to do that would be just before the London Forex Session.

Other forex trading strategies you may also be interested in are. 10 pips a day forex trading strategy &
20 pips a day forex trading strategy.
The whole idea of the 50 pips forex trading strategy is to capture just 50% or 33% of the daily range move of the currency pair. And usually, the best times to do that would be just before the London Forex Session

You need to use the 7am GMT 1 hour candlestick on your chart.
how do you know the time you see on your chart matches that 7am GMT? Simple: ask your forex broker or do a simple google search to find out what 7am GMT is in your timezone(country). As soon as the 7am 1HR GMT candlestick closes, place to opposite pending orders: a buy stop order 2 pips above the high and sell stop order 2 pips below the low.

As soon as one pending order is activated, you must immediately cancel the other pending order.
For stop loss, place 5-10 pips below the low of the 7AM GMT candle for a buy order and 5-10 pips above the high of the 7am GMT candlestick for a a sell order.
The take profit target is 50 pips.
Once your trade is activated, do not touch that trade. Let the market do its thing… Which means let the trade play out. If your profit target is hit, great, if not still great! Repeat the process the next day!

Now the next question is this: what if your profit target you set is not hit and the trade has a floating profit or floating loss and the day is over and next daily candlestick has formed, Close the trade regardless of the floating profit or loss
Or you can move your stop loss to break even or a trade with a floating profit making your trade risk free and place the next trade on the new day’s 7AM gmt candlestick.

If you are a trader that like to be looking for a lot of trading setups each day, this forex trading strategy is not for you.
You only limit your profits to 50 pips a day. What if price moved 200 pips in that day?
If you are not watching and cancel the other pending order, you can have a situation where both pending orders can be activated and have bot stop losses being hit.

Once you decide on a broker you want to use for MT4, you simply open and fund a brokerage account. Thereafter, you can start trading forex and CFDs with MT4. Alternatively, most brokers offer demo accounts so you can use virtual funds to practice trading before funding with real money. Expert Advisors (EAs) are used in the MT4 and MT5 platform to run automated trading systems. An EA will either be a copy of the original .MQ4 file that contains the source code, which can be modified, or it will be an .EX4 (executable) file of the same code, which cannot be tampered with and is often chosen by those who want to distribute their strategies without revealing their source code.
MT4 is not a broker. It is a trading platform that brokers offer to let traders trade forex. I am also a regular user of the MT4 trading platform offered by my brokers- FP markets and Fxview. I like using MT4 for its advanced technical analysis and flexible trading systems. I have used other trading platforms also but got back to MT4 because I didn’t find simplicity and flexibility in customizing the platform as per my trades with any other platform. It offers all the features like real-time access to market prices and liquidity that any forex trader would need.