The 10 pips a day foreign exchange strategy is an easy fx trading system for newbies and even for advanced fx traders.
Now, the disadvantage with this system is: what happens if you do not achieve 10 pips throughout the day.
What happens if you have ten losing exchanges in a row? Will you proceed trading till you achieve 10 pips for the day?
So with this ten pips a day fx trading strategy, in my own opinion, you need to have established maximum on the number of losing exchanges consecutive before you say: “that’s it, no more trading for today.”
- Only the main currency pairs works fine.
- The recommended timeframe is 15 minutes.
- 5ema, 12ema and RSI 14 are the only indicators required with level 50.
Exchanging Rules of the 10 pips a Day FX Trading Strategy
- Auction when 5 traverse 12 downside and RSI traverse beneath 50.
- Position stop-loss 2 pips higher up, the high of the prior candlestick which was traversed before the ema bypass.
- Take-gain aim is 10 pips.
- Purchase when 5ema traverse 12ema to the upper side and RSI traverses above 50 level.
- Position stop-loss 2 pips beneath the low of the prior candlestick which was traversed before the ema bypass.
- Take-gain aim is equal to 10 pips
Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with using any strategy presented on the site. It’s not recommended to use this strategy on the real account without testing it on demo first.