Make 10-20 PIPs a Day Manual Forex Trading Strategy
This simple manual forex trading strategy will make you 10-20 pips every day and may be more, just follow the strategy rules as described below.
Here’s the trading setup, entry rules, stop loss rules, and exit rules of this 10-20 PIPs/day trading system. I truly believe it can potentially generate much more than 10-20 PIPs a day.
Timeframe: 1H timeframe
Indicators used:
1. 5-period Exponential Moving Average (EMA 5) applied to the Close.
2. 12-period Exponential Moving Average (EMA 12) applied to the Close.
3. 21-period RSI (RSI 21)
Entry Rules:
[sociallocker]Entry Rules for Long (Buy) Trades:
Enter long (buy) when EMA 5 crosses EMA 12 to the upside…
AND our RSI 21 > 50.
Entry Rules for Short (Sell) Trades:
Enter short (sell) when EMA 5 crosses EMA 12 to the downside.
AND RSI 21 < 50.
Stop loss = 20 – 30 pips, depending on the volatility of the currency pair.
For more volatile pair, like GBP/USD, stop loss = 30 . For less volatile pair, like EUR/USD, use stop loss of 20 pips.
Exit Rules for Long Trades:
Exit the trade when EMA 5 crosses back below EMA 12
Or when RSI 21 < 50.
Or when price stalls at major resistance, trendline, pivot points, fibonacci projection target.
Or when bearish engulfing patterns or inverted hammer patterns form.
Exit Rules for Short Trades:
Exit our short trade when EMA 5 crosses above EMA 12
OR RSI 21 > 50
Short Trade Example:
Long Trade Example:
There you have it. A manual trading system for consistently making a conservative 10-20 pips a day.
