20 pips daily

[jamynor]

Fxfisherman forum appears to be an ideal platform for discussing profitable trading strategies. Please, I need a trading system that can guarantee a 20 pips profit daily. I'm not willing to risk more than 20 pips also. Can anybody be of help with this?

[ariesto]

Originally Posted by jamynor

Fxfisherman forum appears to be an ideal platform for discussing profitable trading strategies. Please, I need a trading system that can guarantee a 20 pips profit daily. I'm not willing to risk more than 20 pips also. Can anybody be of help with this?

there is no "guarantee" in forex world

[sunnyluve99]

Hello i will like any one to help me with easy forex indicators and strategies

[lovelyduckling]

hello,i find too

[txtaz88]

I have been trading Forex for 5 years now and am a new poster to this forum. I belong to several others and might be able to help you. So here we go:

Basics

1) Start with a mini-account with $250
2) Risk only 2-3% on any trade. 3% of $250 is $7.50 of margin.
3) I suggest with this size of margin, each pip to start needs to be $.10. This gives you a stop loss of 75 pips. If you use $.20 per pip, it's about a 37 pip stop loss. +++20 pip stop losses are not realistic in the Forex or any market+++

Trading system I use: SRDC ( Support-Resistance-Daily-Chart)

Time Frame: Daily
Pairs: Any, but works best on EUR/USD.....IMHO

Mark high and low of previous day

Place 2 pending orders. A buy stop 2 pips( or whatever your broker spread is) above the high and 2 below the low. Set stop loss at 40 and take profit at at least 80. If you want, you can use a trailing stop of 30.

Backtest this and see what you think. Works for me and has for years.

Good luck and let me know if I can answer any questions.

[haley]

I am a new trader in forex and I would like to get some tips in how to get the best of Metatrader. I got the supports and resistance down and those have helped me in my trading but I need more info. Please!

[txtaz88]

Originally Posted by haley

I am a new trader in forex and I would like to get some tips in how to get the best of Metatrader. I got the supports and resistance down and those have helped me in my trading but I need more info. Please!

I'm not sure what you mean here. If you place the 2 orders as I have outlined, they either get taken or not. You need no other indicators using this system. Please try on a demo account for awhile to get the feel of setting up the trades. You place the orders at whatever time your broker starts a new day. For me with IBFX, that's 00:00.

[amamil]

So how many pips should I expect in one day if I am trading on a 15 minute period? 20 pips a day sound like nothing but it really depends on the volume you have behind. Or what they call the capital. The more you risk, the higher the income or outcome.

[Terry1]

From what I learnt in the tradeview mini course, any positive outcome is good. It doesn’t matter if it’s 10 pips or 200 pips; all are earning so take them and run with them. Of course 200 is a lot better than 10, 10 is still good. Think about it.

[pippimp]

Is txt instructions to place a BUY STOP below the low previous daily candle or is it a SELL STOP placed below the previous daily candle ?

Thanks
Theo