Whilst here, you may also like to check these out after reading this 10 pips a day forex trading system:. What if you can only aim to make 10 pips a day? Next day, you come and aim for 10 pips again. 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.
Now, the problem with this system is: What happens if you have 10 losing trades in a row? Will you keep trading until you hit 10 pips profit for the day? So with this 10 pips a day forex trading strategy, in my opinion, you need to have a set limit on the number of losing trades in a row you can take before you say: I would really appreciate that. Those are the forex news that move the market. Hi Chris, I scan all the currency pairs to see what kind of price action trading setups are forming and based on that I pick the right trading system for that particular trading setup.
But ones I tend to use are these: Have a look at the forex trading signals page: Just wanting to check how successful you have been with the 10 pip strategy before giving it a test drive.
Hi Chris, Congratulations on taking the first step. As I mentioned here: So why all the strategies on this site? Well, to give forex traders a few options to find whatever trading systems that fits them so they can use them. If you note also on what I wrote on the disadvantages of the 10 Pips system is the fact that you are really restricting yourself to only 10 pips a day and your risk: Whilst here, you may also like to check these out after reading this 10 pips a day forex trading system: Prev Article Next Article.
Hi Rkay Thanks for the info.More...