50 PIPS a Day Forex Trading Strategy 😵
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- เผยแพร่เมื่อ 9 พ.ย. 2017
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50 pips a day forex trading strategy. www.financial-spread-betting.c... PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE This forex day trading strategy is all about making 50 pips a day - okay this is not guaranteed in real life but its very systematic; its either making 50 pips or nothing. The theory behind this trading strategy is as follows. We have money flowing round the world with the currency markets 7 days a week; we get the London session, the European, USA session and the Asian session and then they start all over again. The theory of this system is that as any of these sessions open we trade the currency pair that is dominant; so for the London session open we trade the GBP/USD and when the Asian session opens we trade the USD/JPY..etc Its a bit ambigous sometimes what the time of the open is. In this strategy we take the first hour's range of whichever market we're looking at. The theory is I go long when I break above and go short when I break below. This is a very systematic strategy that has potential.
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Just backtested this strategy from January 1st 2020 - January 31st 2020 on AUDCAD and had 9 wins and 10 losses using a 1:2 risk to reward ratio on every trade. Used this strategy on New York session. Using my risk management system, would have been $2,000 in profit for the month from this pair alone.
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for anyone wondering, this past trading week, 1/6/20-1/10/20 (GBPUSD) had a WIN, WIN, LOSS, WIN, LOSS. the total profit could have been more than 50 pips per win, but assume only 50 pips per trading day, so 150 pips profit, and technically speaking you could've had trailing stops and cut your losses neutral, but assume you had a 10 pip stop loss for a 20 pip loss = 130 pips net profit.
Here's my take. You're trading the hour chart. Ok, but check the day chart. Only enter when trending and only in the trend direction. Oh, and don't set 50 pips as your target. When I change to 30 pips I get a much higher win rate. If your stop loss is at the bottom of the open candle, then you usually have better than a 2:1 ratio. When the candle is long enough that your ratio is less, don't take the trade.
What do you mean "when the candle is long enough that your ratio is less"? Not sure what ratio you are referring to. Thanks in advance. Love the tweaks to the system though, but didn't understand that last part.
866 Seminars I think he means if the daily chart is in an uptrend and the ‘50/30 Pip strategy’ has bullish criterion met, then we take a long position for a 30 pip Take profit.
We would then have our stop loss on the low of the opening candle. If the opening candle has a large low, and thus requiring a lower stop loss and a ratio of risk that is wholly against us; and higher than our take profit target. Hope this helps.
Great tweaks 👍
@@866seminars2 so if the candle is longer and you move your stop lower than a 2:1 ratio don't trade it because the odds are then against you in terms of the stop loss.
A long first candle would mean your Stop Loss just below it and The open to Take trade, just above it. So could mean too many Pips gap (Open to Stop Loss) against potential gain. i.e. Less than 3 to 1, profit to loss.@@866seminars2 With a shorter opening candle, less risky so small Stop Loss.
Good entry stratagy on 1 hour chart at open, once in the trade use the 15 minute chart for clarification. If the lower time frames are starting to lose the uptrend then you can exit earlier or scale out to protect your profits.
Personally i use the 15min with day trades. When you start getting overbought or oversold and losing the higher high or lower low time to bail.
Omg my apologies I said this strategy was more like a gamble..but now I just read it properly on another website...back tested as far back as 6months on EUR/USD ...GBP/USD and it works ...goodness me🤯🤯
On hindsight, anyone can be an expert forex trade "guru". All you need to do is to open a past trading chart and simply explain away "how would you place a buy or a sell and win" according to the chart :):)
Mintrend San true..!
Of coarse. He can't show you a future chart because there isn't one yet. He is showing you what works for him and giving you ideas. Its up to you to try this strategy for yourself. There are a lot of bogas youtube videos out there about forex but i don't think yhis is one.
He is back testing and shows losing ones too
the best strategy to start in forex, since many do not know how to work on this platform, highly recommended and very good strategy, I love this video!
Everyone share how many pips you've gained since 2018. I'm up 83 already 👍💵💰
Very good one! Price - related strategies are the best ones in my opinion. There's nothing more powerful than what market is actually doing. If up, buy. If down, sell. :) Take profits at sup/res, cut if change direction and reload at the next event!
Best "London Breakout" I have heard. Thank you.
this makes it really easy to trade. and the RR is really good because before opening sessions markets are usually in a range so my stop losses are tight and the direction is very easy to decide as its usually followed by a really strong candle. Thanks for the tips!
Sound strategy. Fits perfectly with what I've been learning about the volume happening on GBPUSA on the 4 hour chart! The trick is to gain confidence from other ways like MACD and know when to get out when it doesn't work. I'm getting there!
Your strategy either works long term or it doesn't. If this 50 pips a day worked 60% of the time with just a 1:1 profit/loss ratio you'd make a lot of money in the long run and wouldn't need to change anything. Making money in Forex is about finding a trading system that works and doing it over and over again with exact objective criteria. No changes unless strategy doesn't work long term.
Great Strategy! I see it is working only for GBP pairs. Does is actually work with other currencies?
While I broadly agree with the people saying that this ought to be traded with the direction of the prevailing trend (using the daily), it also works if there are conditions in place for a pullback or trend reversal on opening. Monday morning is good for this on the major pairs as they often want to move back closer to the EMA, either up/down and there is often sufficient momentum to get them there. Watch for bullish/bearish engulfing candles and clear indicators there will be a reversal in the lead up to the opening hour. I also like the idea of validation using the 15min to stay in the trade, or get out.
This is a very good strategy. If you add a 200 ema and trend in the direction of the trend you get very good results. Also you have to be aware of the news that affect the GBP. I take profits at the close of the daily candle. I back tested the system for a year and it’s very profitable.
This doesn't only apply to session openings, you can use the same tactic for every one hour bar with some filters such as ATR and ADX.
This strategy is the most simple and profitable strategy I have ever used trading. I'm at 100% trading binary options on Nadex. I trade the US and Asian opening sessions. Only about two hours at each session, and I'm done for the day.
Honestly your videos are always informative with good contents always, keep up the good work brother. Meanwhile The trading market is constantly evolving with new features, many trading opportunities and financial swings with sudden surprises around every corner.The best thing is to stay in shape and more important, don’t let anything catch you on the wrong foot and never get too emotional.
It is very good to see this kind of videos because we learn how important the web is. Congratulations, keep doing good videos! Greetings!
Many thanks for this, seems a sensible strategy to use the open as an indicator of potential movement. Could you kindly offer some guidance with selection of which pair has highest probability please or maybe just drop a link on how to choose between the GBPs for the 8am open. Many thanks 👍
Thank you for the inspiriation.
I could not make this work.
1. My drawdowns are really high. Had up to 50% when backtesting from 2017.
2. Hard to even make a win. Even with parameter optimzation (Profit Target 175 ponts, Stop Loss = 2 * opening candle, some trailing) it makes not a lot vs the DAX.
3. The strategy seems to have worked very well until middle of 2016 vs the DAX. From 2017 on it is a rollercoaster.
4. My winpercentage was usually in the lower 40s.
what did you use to back test the strategy this far back? I have been testing this strategy on the ftse100 for the past 3 months of 2020 and they seem to have come out profitable. I would like to test how it fared in 2017
You are very kind and helpful for sharing your ideas. Thank you
It seems that one has to take at least one loss with this strategy and if there is a reversal before 50 pips are achieved then there will be two. So rather than open two positions you could just open the trending one and hope for the best as you will be stopped out anyway unless there is an immediate reversal and if there is then you could open a position with the new trend and hope that doesn't reverse too. But of course just opening the one position based purely on where the market is exactly one hour after trading has started, puts you in the realms of donkey tail pins.
Hmmmm this is clever.. 👈👈(one week ago) 👉 (now) I atleast gain 30 pips due to this lesson. Thanks pal.
Your strategy is clever.. and yes it don't work all the time as the market is not predictable.. but this helps
Good morning! excellent video, greetings from venezuela. thanks for the support you have given us ..
Simple and well explained. Not ground breaking but something to add to the Arsenal, thanks for sharing.
This is a very unique approach! You have creative strategies!
the truth that this video contains enough information of interest which helps us to know about superior strategy.
to others and I'm following your channel esoy very aware of each video you upload to the network,
a big hug chao.
Going to try this as a supplementry strategy and see how it compares with my current one.
Just noticed your online course. Not a bad price. Think I might give it a try.
Ok maybe a stupid question but which market open? So for GBPJPY do we use opening time for JPY or GBP? If it's EURUSD i know he says USD but imo the market starts to move on that one when the EUR market opens? Is it whatever comes first in terms of time?
EUR/USD, USD/CHF ...
Are these pairs for New York session ? Or is some of them for London session ? Just want to be sure.
Don't stop. Keep pushing. Until you can win. Because you can win
Hi man, thank you for the video! What are your thougths on an automatic EA about this strategy? Plausible? Do you know one already? Cheers!
Just finished backtesting this strategy with the GBPUSD pair, January 2020 since day 2 to 30.
214 Pips profit, but could do better if I didn't take trades against the trend and think a little bit more on stop losses.
Always 50 pip take profit, aswell as 25 pip stop loss.
52% Winrate, but Risk to Reward Ratio 1:2 always, so profitable.
My suggestions if you are working with this strategy is backtest it, try it on your demo account at least for a month, and use GBPUSD, EURUSD or/and EURGBP. Dont take trades against the trend, dont place stop losses just above or below market structure, and I think it's a profitable strategy.
Also, loss days are: 10, 15,16,17,20,24,27,28,29
good strategy video I like it a lot, I hope you keep uploading similar videos and with enough content, greetings
What is the recommended SL for this strategy ?
I like it , simple is always better, definitely can improve it with daily trend direction filter like use a heiken ashi on daily time frame to decide which side you want your order rather than both ways everyday
Quick question... Am I looking at the trend between 6am-8am or just literally looking at the 8am candle? I.e. if the 8am candle is greened up I'm buying if it's red I'm selling? And do I wait until 9am to decide or would 8.30 be too soon for example?
Yes you enter in the direction of the breakout. Candle colour doesn’t matter so much, you want to buy above the high and go short below. You trade is triggered on a break rather than time.
this is a great strategy seems to work well with the Eur/Gbp pair. i guess its not best to trade this way when we have a 09:30 news data coming out?
This is to be used when a pair is trending or wide range market. Not during tight consolidation. Careful. He means well but... as always, can back fire
I think its great but you should not get too hung on those 50 pips.
If you think its time to exit do so.
If you realize you can take more than just 50 do so.
I have just one question... Which are the dominant pairs for each open? You stated only the dominant pairs for the London and Asia sessions.
So you wait for the 1st hour to close to get your range. Then do you wait another hour to confirm the breakout above or below?
good, excellent strategy, I think it's great and very good, keep it up, good channel, go ahead.
like, you like, like.
What a good video I liked a lot, always make videos like this that help people to have a strategy in what they do to be successful. Thank you
People in the comments are making things much more complicated than they have to be. Learn liquidity
Thanks for the ideas and thanks for sharing.
You've got really good informative and educative forex trading videos. Thumbs up sir .
So he is looking for a 50 pips gain in just one trade. That is possible if you look at the past charts but in real time, you have no idea if that chart will gain 50 pips or not.
In the US session opening which pair would tou advise Trading?
Of course it seems excellent to me since I was looking for something like a very profitable strategy and because the truth is very good the video congratulations
When doing risk management should u go by your balance or the equity you have?
good video, good explanations thank you very much ...
Thank you for sharing!
Never knew forex is really profitable to this extent till I gave a it a trial
Is the entry the open / close of a candle above or below or just price going above / below?
very educational and interesting, it teaches us how to eloborate a good strategy, for our business in a very effective and simple way. from my part thumb up and full subscription. I congratulate you, continue this way, helping more people to be enterprising and productive.
Looking back at some charts using this I think 50 pips is too high, I agree with the comment by Gavin Lowry to set a lower TP, 20 to 30 pips give a much greater win loss ratio
had to watch it twice , but got there in the end , thanks , ill give it a go
Hey, I didn't get what to do, how to determine if it's a buy or a sell? Or we just follow the trend?
It is okay to set the high and low by looking in the daily chart?
I just leave my request what time we will entry and what time we will look for this strategy...
Hi... do we wait for the next H1 candle to close after the opening candle to see if it breaks either the highest/lowest level of the opening candle before we place an order or not? Sorry I was not able to catch this one on the video.
Good question - if you want until the close you may be too late in a strong move, I prefer to take it on a break mid candle.
Do you have a multiple time frame correlation strategy for entry?
iv been trading 4 years now from my personal experience the opening is the most risky time to trade. I don't trade the open or the news. trade in the afternoon after watching how the market performs through the day and there is nothing worse than starting the day off with a loss. I watch gbp/usd constantly and only that market . stick to one market and understand how it moves. the more you watch your brain will spot opportunities. Iv 8 screen trading pc this is a must watch on 1/5/15 30/60/4h /daily all at the same time. This has worked best for me not saying its for everybody. Iv lost a fortune in the past. you have to lose a lot before you make it work. Losing money actually helps you learn. Practice account is useless apart from getting to know your way round the platform.fake money doesn't help you learn
Lol... i traded the GBPUSD after the brexit vote last night. I made $2700 a lot on 5 separate lots.... why on earth would you not trade in those conditions?
Forex trading is accessible, exciting, educational, and offers traders lots of opportunities.
What a good video is still doing them explain very well bro you have a new subscriber see you in the next video!
This strategy is the most simple for intraday...i already backtest with Gold but based on HL first 2hour daily open...TP 60 pips...from july-oct 2019...around 64%losing trade..its better with martiangle position sizing...it will return 5%per month
Thanks for the video , one question please if one of the buy or sell orders filled , do you cancel the Oder one right away ? Thanks
yes
For me personally bank policy is the most important thing to look at due this report usually drives market for the quarter of the year..yes,other economic data such as bank rates and major data gives market strength or kill the participant in a second..if you master the fundamental,then combine it with you regular technical analysis..you will be much better trader in a future. Strict discipline and decent strategy,you will see result in instant fam..
a little bit confused. market opens 8am
8am-9am - Candle A
9am -10am - Candle B
which candle's high/low should I look at?
It seems a great strategy to get good income, very good .. congratulations
So what is “the variation of the strategy which is very successful ? “ minutes 3 of the video, please replay
very good the video I liked a lot friend excellent information
Forex needs a miraculous skill to analyze the market and learn support and resistance points
It also needs cool nerves and no fear or tension
simple. clean. i like it. thanks.😊
Would you get in right at the break or when a candle closes out of the zone?
Good question - At the break is my preference.
UKspreadbetting awesome thank you
just wondering why you chose the wick that you did to base your strategy on
interesting information, I really see very well the initiative to earn money with this information, I am impatient not to make a prompt investment after the information provided, excellent.!
How far does the candle have to close above or below the 8.00 o clock candle?
Nice presentation. Thanks.
I find interesting the explanation about methods, guides and strategies of how to manage this business, I always wanted to be part of this business, but I did not pay attention to it in time. pity that in my country there are so many limitations in international payment systems.
just tried this on cable 4 first time = win :-) we see if i'm still doing it in 2 weeks
reeve1able how are u still getting on with it????
+reeve1able how did it go? are you still using it?
I’m guessing he blew his account
Many reasons forex is tough but one thing I see so much is a strategy like this. I think it’s good. The guy kinda does but it needs more reasons to take or not to. This game is about confluence. Can’t take one signal and consistently win.
So is it buying or selling as soon as the Asian Market e.g. Opens?
So what currency pair do u trade the dollar against when d NewYork mkt opens, since it's in all the major pairs?
During US session you can trade the major USD pairs - USDJPY, EURUSD, GBPUSD etc or others with USD
I see it is working only for GBP pairs. Does is actually work with other currencies?Great Strategy
50pips that's huge, like that
Nice and easy, how about combining it with indicators like RSI or stochastics
Just came across this page...will this still work? And where do you advice we set stop loss
Excellent video. Just excellent.
Old school strategy that still work it profetable in s&p
Hello
I do not think its unfair to ask this question so here we go.
As we do not know the vast combinations of always changing financial events and those tipping points that suddenly changes the direction of the forex graph , how can training strategies signals and the like help us. regards Hayden
Hello there, nice video to be honest but every time I watch different TH-cam videos I see how people earn from it but no my case is different always making loss. What am I doing wrong?
Is day trading really profitable and how easy is it to implement it in trades?
When I watched this video at the beginning, I thought it was just a kind of normal video, but when I started watching it, I realized that it was not a simple and instructive video)) I really appreciate the author of the video to explain everything and it seemed like excellent thank you very much
So for say if the london market opens at 8am woukd you start order at 10am? Once the 9am stick has finished and then determin or isit whenever the high/low breaks
Ff
Use the 1st hour as a benchmark - then on the second candle take a break of the high or low.
is it possible to program an EA that does this strategy automatically?
I tested 7 months for GBP/USD. 2-3 firt months not bad (+100, +200pips), next I lose, winnings 4/22 days -160 pips, -85 pips...This strategy does not work for the future..lucky 2-3 months