50 Pips a Day Forex Trading Strategy
- Identify an Uptrend or Downtrend on the Previous Day.
- Identify a Retracement to the Daily Pivot at or around the London Open (8am London Time)
- Make Sure Your Daily Pivot is within the .382 and the .618 Fibonacci Retracement Levels.
- Optimize Your Entry (50 Pips Take Profit, 25 Pips Stop Loss, 2 to 1 Reward to Risk Ratio)
100 Pips a Day Forex Trading Strategy
- Pick 2 pairs and add Daily Pivots. It can be any 2 pairs. We love trading the major currency pairs. Therefore, in our example, we picked the EUR/USD and the GBP/USD.
- Identify and set your Entry for both pairs. Look for a Retracement or Double Reversal Pattern at the Daily Pivot, at or around the London Open (at or around 8am London Time).
- Optimize your Entry. 50 Pips Take Profit on each pair. 25 Pips Stop Loss on each pair. Reward to Risk Ratio of 2 to 1.
200 Pips a Day Forex Trading Strategy
- Pick the right pairs that travel even remotely close to 200 pips a day (i.e. GBPJPY, GBPAUD, GBPCAD)
- Look for a Double Reversal Pattern or a Retracement at the Figure Levels or the 50 Levels.
- Stop Loss comfortably behind the Reversal Patterns.
- Take Profit Target #1: 100 Pips (Next Figure or 50 Level)
- Take Profit Target #2: 200 Pips (Next Figure or 50 Level)