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Care to share a good 10 pip per day Trading Strategy Trading Psychology self. I intend on trading any Major pair with low spreads as I might need to book pips because of the spread. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. All rights reserved.

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There is a lot of buzz in the Forex industry about the ten-pip a day strategy. We have seen both experienced and novice traders getting excited about this strategy.

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Traders need to adapt themselves to the market situations to be successful. Making ten-pip a day is a great way to accumulate wealth in the Forex market, and it is easily possible. All we need is to master our skills to the point where we exactly know when to take a trade and when not to.

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This is true to an extent, but if we practice this strategy enough on a simulator, we can easily make ten pips a day no matter what. Also, it is up to you to follow this idea or not. You can stop trading after making ten pips, or you can ignore that and go for 20, 30, or even pips a day according to the market situation. In case of any tiny bit of uncertainty, make sure to exit right after you make ten pips.

One critical aspect of this strategy is selecting the currency pairs. One must be professional enough to understand the market situations and pick the pairs where there is a minimum potential of making ten pip profits. Now, to understand how this works, we have taken five different trades for five trading days in the last week of Feb and have generated 10, 20, and 30 pips in the market successfully. According to this strategy, conservative traders must stop trading after making ten pips for that trading day. But, if you are an aggressive trader, go ahead for bigger targets.

When all the rules mentioned above are met, we took a long position in the New York Session on 24th Feb Our stop-loss is placed right below the lower Bollinger Band. As mentioned, exit the trade as soon as you make ten pips if you are a conservative trader. We can clearly see both the indicators indicating a clear buy signal. When prices hit the lower Bollinger bands, and the Stochastic indicated the oversold market conditions, we went long on this currency pair.

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We would have exited the trade at ten pips, but the market started printing continuous bullish candles, which made us wait for the prices to hit the third target. The entry was at the point where the prices touched the lower Bollinger Band, and the stop-loss is placed just below the recent low.

$55 - $5000 WITH THE 10 PIPS A DAY STRATEGY - FOREX TRADING 2020

Since the higher highs were getting continuously printed, we went for the third target and exited the trade as soon as we made 30 pips. We went long in the Asian session on 28th Feb We went short when the price action hit the upper Bollinger band, and the Stochastic indicated the overbought conditions. The stop-loss is placed just above the upper Bollinger Band. We have gone for the third target, and the market printed a brand new lower low.

This pair was in an overall downtrend, and on 25th Feb , we have activated the sell trade right after our sell criteria is met. The entry was at the point where the price action touched the upper Bollinger band, and the stop-loss was just above the upper band.

The reason we place the stop-loss there is because of the bands of the indicator act as a dynamic support resistance level to the price action. We took sell when both of the indicators lined up in one direction, and we booked profit at the third target.