actually imho isn t that hard to make 10 pips a day or even 20 if u know what ur doing and u have a nice win rate. it s easier then chasing price, just wait for that high probability trade, take ur 10 to 20 pips(whatever that means in % risk per pip) and ur done for the day. it s easier imo to be consistent like this then chasing trends or moves etc.
Well, we all know the theory but why is it so hard in practice to be consistent? Consistent in both win rate and daily returns and winning days? I don’t have an answer to this.
because people, like myself also, are impatient, greed takes over, and that s when u fail. specially if u have a higher win rate, ur ego get s so large that u can t accept not being right, so u hold onto ur losers till they turn into massive holes in the account. that s what happened to me atleast not so long ago. had to take a step back and realise that wasn t my analysis or my entry techniques, but my ego and the greed that comes with it. was harder for me to teach myself to take the losses fast without thinking to much than to learn how to trade.
2 Likes
i was thinking that exactly im a beginner hehe interesting
what timeframe you use? can i trade this strategy with gbpusd?
If you hit your 10 pips profit for the day, you don’t trade anymore. This means that if you take the first trade and that first trade gives you 10 pips of profit, then you will not trade anymore because the whole aim of this trading system is to make 10 pips a day.
1 Like
A pip is the smallest movement of a currency pair. The exact number of pips the EURUSD pair moves daily is not possible to calculate because the price moves differently every day. In one day, the EURUSD pair can move by 50 pips and then move by just 2 pips in the following day.
Is this strategy still working ?
Can anyone post example IMAGE on how to enter (especially for beginners to understand)
Thanks
Since it’s free I am definitely gonna try it out, thanks. I have gone the paid route so many times only to find disappointment. I’ll surely post the results here.
I have used this strategy and on too many occasions is your stop loss hit. I have moved my TP to 7 pips and my SL to 8 pips and only trading with the trend on pairs. If no obvious trend i stay out of trade. Thus far it’s definitely showing promise in the 3 weeks iv’e been trading it.
Thanks for sharing the information! When I was learning to trade forex, my mentor told me just one thing. He asked me to stick to my strategy throughout my trade and it actually worked. If you realize that you have been making unnecessary losses, you must build a new strategy.
All strategies don’t work the same way for all the traders. I have tried different strategies in different market conditions and realized that if I keep using the same strategy with every broker, I won’t reach my goals. I will have to find out different strategies that work in different market situations.
Thanx for sharing the information, your strategy of trade forex worked for me.
That some pretty nice strategy,
Where is this robot? There is nothing on the link!
Шляпа ты, где робот?
There is no free lunch.
No way did a billionaire named “willy” just show up in a forum and offer to give to strangers a tool that has been putting money in his pocket for fifteen years.
If you truly believe that, I want to offer to you my authentic magic beans for sale only to you and nobody else just you.
My golden goose lays golden eggs when she eats the magic beans.
I sold a handful of these beans to a man and since he has purchased a time machine and three universes.
He sent to me a thank you note and that made me feel the fuzzies.
3 Likes
Wake up, guys. This thread pretty much depicts how the entire world of retail traders think.
If you read this thread from an unbiased perspective then you will understand how exactly not to trade.
And for the guys who commented here - learn to read the chart. It has all the answers that you need. Don’t try to find the holy grail by adjusting your R/R, TP, SL. It’s ridiculous - just think about how many traders out there are doing the same right now? How can it work? You think you’re smarter than the clueless crowd? Well, maybe you got lucky and today you’re smarter, but tomorrow you won’t be.
For a strategy to work, it has to be based on correct professional understanding about how this market works. In your strategy I see no reference to that. It seems to me like a random mechanical idea that cannot work long term. So I will tell you again - learn to read the charts properly first so that you can understand what they’re trying to tell you every single moment, and only then try to create a strategy.
1 Like