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Idea Behind Trading of 10 pips a Day Forex Strategy

The idea behind trading 10 Pips A Day Forex Trading Strategy is a simple forex trading system for beginners. Below we discuss how to trade 10 pips day forex and its Pros and Cons of trading Pips.

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Idea Behind Trading of 10 pips a Day Forex Strategy

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  1. Idea Behind Trading of 10 Pips a Day Forex Strategy

  2. Index 1. 10 Pips a Day Forex Strategy 2. Problems It Creates 3. Trading 10 Pips a Day Forex Strategy • Sell setup • Buy setup 4. Pros of the 10 Pips a Day Forex Trading Strategy 5. Cons of the 10 Pips a Day Forex Trading Strategy

  3. 10 Pips a Day Forex Strategy • The idea behind trading 10 Pips A Day Forex Trading Strategy is a simple forex trading system for beginners. 1. Currency Pairs: only the major pairs 2. Indicators Required: 5 ema and 12 ema and RSI 14 with level 50. 3. Timeframes: 15minutes

  4. If you hit 10 pips profit for the day, you don’t trade anymore. • It means that if you take the first trade and it gives you 10 pips of profit, then you will not trade anymore because the purpose of this trading system is to make 10 pips a day.

  5. Problems It Creates • The problem with this trading system is that: • What happens if you don’t make 10 pips during the day? • What happens if you have 10 losing trades in a row? • Will you keep trading till you hit the 10 pips profit for the day?

  6. In this case, you need to make the profit on the next 11 trades, and it is the 11th trade that will give you 10 pips you need for the day. • But then, there is the very big problem, because now you are faced with the problem of overtrading, and you really don’t know if the next 10 trades will all be winners.

  7. So with this 10 pips a day forex trading strategy, my opinion is that, you need to have a set limit on the number of losing trades in a row you can take before you say that’s it: "no more trading for today.”

  8. Trading 10 Pips a Day Forex Strategy Sell setup • 1. Sell When 5 cross 12 downsides and RSI cross below 50. • 2. Place stop loss two pips above the high of the previous candlestick which was closed before the ema crossover. • 3. Take profit target is 10 pips.

  9. Buy setup • 1. Buy when 5 ema cross 12 ema to the upside and RSI crosses above 50 level. • 2. Place stop loss 2 pips below the low of the previous candlestick which closed before the ema crossover. • 3. Take profit target 10 Pips.

  10. Pros of the 10 Pips a Day Forex Trading Strategy 1. It is a simple trading system to use for even beginner forex traders. 2. It Works well in strong trending markets. 3. 10 pips profit target is easily achieved compared to something like 50 pips profit target.

  11. Cons of the 10 Pips a Day Forex Trading Strategy 1. You can't use the 10 pips a day forex trading strategy on pairs that have huge spreads, and you will get stopped out very easily. 2. This is trend trading forex strategy, so if the market is flat and you will have a lot of false signals, therefore We suggest that you only use this strategy during the New York and London trading sessions.

  12. 3. You are only restricting yourself to 10 pips, but you only got 10 pips profit. 4. The tendency to overtrade if you are keen on getting your 10 pips a day which means you can blow your for the trading account simply if you do that.

  13. Thank You

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