in this trading we'll talk about the 50 pips a day trading strategy stay tuned a trades very warm welcome to you so this strategy is all about taking 50 pips add a caveat is is we're not guaranteeing 50 pips a day.
But I know you know that I know that you know that if you're hearing a guarantee think it's guaranteeing that you're in the wrong place it's a real world stuff guys but the idea is that it's very systematic it kind of says hey it's 50 pips is all or nothing or maybe you have a little extra.
Into it we'll go into that later so the theory behind this trade is this we have money flowing around the world with the currency markets 24 hours a day five days a week at the London session on the European session moves into the u.s. .
Session moves into the asian session moves back round again and the theory is that as each of these sessions open we trade the currency pair that's the kind of dominant pair sofa london's session opens we trade the pound against the US dollar.
When the asian session opens we trade the u.s. dollar gets JPY that kind of thing you get the point so we gonna focus on currencies now but i'm also going to show you examples that we can use with indices as well because I believe that it's free for if feasible.
With those now one one thing to mention guys and one little kind of warning is it's a bit ambiguous sometimes when the time of the open is because you may be in summertime we may be in GMT you may be looking different countries looking.
This trading in different countries you've kind of got to do your own research a little bit and depends you know the date. I've done this trading and the date when you're watching it there's all sorts of things which can change and times change and adjust so just be sure you're.
Looking at the right time for me at this moment in time 8:00 o'clock is my opening time for the London session so I've got the Pound u.s. dollar here it's on an hourly chart and what I want to do is similar to an another strategy that.
I've discussed before but this way the previous strategy were taking the previous three hours of the asian session in this strategy we're taking the first hours range or whatever market we're looking at so for the asian session US dollar JPY in this example in front of you pound US dollar the top the high and the low of the initial.
Hourly bar so I've got my o'clock bar ain't got until nine o'clock bar I've got my hi there and that's giving me one point three one seven nine my low one point three one five eight okay great I've got it I've bracketed it now the theory is I go long when I break above I go short on a break below and I have a solid fifty pip target that's it it's.
All or nothing guys it's in and this is why it's kind of a good if you've got a little bit of a struggle with discipline you got to be able to struggle with anything you want to get back in the market very systematic risk a very small amount I have no thought behind it but just want to still be in it this is not a bad place to start is this gonna work.
For you all the time every time that of course it's not um but it's got a lot of potential here it's very methodical it can it can be used as a foundation to add different layers to I know one trend in particular uses a variation de strategy very successfully I mean has done for a long time so it's one of those things that it's a good place to get going again or to build a strategy.
From anyway that's the point is we we go long above the high and we go short below the low so this instance we're long here a couple of pips above so we're longer whatever we are 3 8 82 looking 50 pips do we get it it doesn't look like we quite get it one point 3 2 2 3 2 2 6 so we're not quite there in this one so you know things aren't.
Perfect I guess you're probably gonna want to come out anyway by the end of the day maybe you have a trailing stop on it as well as you want but the idea is in in the genuine strategy is that you looking for that just 50 pips move let's have a look at another one over here this was a little bit of a better.
Example maybe good not cherry-picking as such but it gives an idea of what's possible so we've got the low of the hourly chart or the hourly Candelaria o'clock of a high so we're going short here at a .3 to Therese or something like that looking for 50 50 pips yeah.
We easily get it don't we were out we're taking our 50 pips and we're done so it's very systematic once you're in you put your stop-loss then you put your exit in okay let's have a look over at something like the so we can do on the DAX as well and for me where I'm at the moment the time I'm doing this the open is 8 o'clock UK time.
So what I do is I will bracket the high I'll rack it a low my stop is between the two so what's that whatever that is on the chart I'm going long as we break it about the high I'm taking 50 pips do we get it I think we easily get it as my 50 pips or actually obviously we ticks.
If we're talking about the DAX but let's not worry about details like that let's worry about making money guys this is the key to it obviously where I've got it now you get the idea you get the idea you can do it in the u.s. session for us session for me opens at 2:30 .
So you looking at 2:30 to 3:30 bracket the high bracket a low long about the high short below the low take your 50 pips 50 tics whatever it may be Bank it run stop is but is the distance between the two obviously the stop is monster again this is where you come in and you can add a bit of for your own flavor you could be half of that you can scale out some.
But I'm just talking about the broad strategy that that is kind of the rules of the strategy how you adjust it pavéd tweak it how you refine it when you use it when you don't use it comes down to your skill and it will be interesting to know in the comments below how you think it's gonna be refined better so that's.
The structure of it's the 50 pips a day strategy let me know your thoughts comments below thumbs up, good trading take care and bye bye.