Forex Strategy 20 Pips per Day
Forex scalping strategy “20 pips per day” allows a trader to earn 20 pips per day, which is at least 400 pips per week. According to this strategy, the given currency pair must move actively for 1 day and also volunteer as much as possible. The GBP / USD and USD / CAD pairs are rated as the best. Trading starts at least 12.30 GMT due to volatile moves in the American session, provided there is no important news release related to today’s economy. But if there is, immediately enter the market after the news release.
A trader is advised to choose a setting with a 30 minute time interval on the standard 5th Momentum 5 indicator in the trading terminal and 20 SMA moving average.
A close candle is located above 20 SMA and the Momentum indicator set above the average level indicates the market entry point for further purchase. When the price falls below the moving average and Momentum Indicator is located lower than the average level, immediately open a sell transaction. When a transaction is opened and the price is ready to cross the 20 SMA line, the position must be closed.
Stop loss and Take profit are set at the 20 pip level. Because the interval is small enough, it is possible to use a Trailing stop (from 1 pip). For other options, the order can be placed to zero when the price has passed 10 pips.
The makers of this strategy are convinced that the 20 pip strategy per day is profitable only if each of the recommendations submitted above is obeyed.