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50 Pips A Day Forex Strategy, by Laurentiu Damir
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50 Pips A Day Forex Strategy
- Start making consistent profits in the forex market
- Support and Resistance
- Candlesticks
- Moving Average
- Timeframe - 4 hours chart
- This is a very clear and simple to follow forex trading strategy to get you started achieving consistent profits day after day trading the forex market. It will make you 50 pips per day or more every day. It is ideal for beginner traders but it will give a great deal of help to more experienced traders that have not found a clear strategy to make profits consistenly
- It is easy to understand and to put in practice.
- It has very well defined entry, stop loss and exit levels.
How to Build a Solid Trading System
Apart from the strategy, this book also contains a very useful guide that teaches you how to construct a profitable forex trading system for yourself and how to avoid trading and money management mistakes
Are you new to forex trading or just started to trade on a live account but with not much success ?
- You need a solid forex trading system based on sound principles of the forex market, that has clear trading and money management rules
- This can only mean that your trading system does not take into account the basic trading rules and principles that any powerful forex trading system incorporates
- Published on: 2012-07-21
- Released on: 2012-07-21
- Format: Kindle eBook
Most helpful customer reviews
22 of 23 people found the following review helpful.
Legit Forex system. For 99 cents, it's a steal.
By Amazon Customer
I've been trading for over 8 years. I'm always trying to learn and experiment with other systems. Bought this book out of curiosity. The system in the book is actually legit. I made some money experimenting with it. But not sure you can actually make 50 pips a day with it. Also, for me, this system requires too much waiting. So I've moved on. Even if you don't trade the system, there are useful tools in there to use as you formulate your own system. For 99 cents, it's a steal. I've spent much more money on trading/Forex books that are less useful.
120 of 149 people found the following review helpful.
Misleading
By ArtFan
The only way to know whether a trading strategy is viable is to test it over a very large number of trades in a large timeframe. No matter which strategy you use, the more trades (round turns), you complete, the more accurate the results will be. There is no accuracy whatever to a small number of trades - small number meaning 50 or a couple hundred.
It is very commonplace to see wildly different results between 10 trades, or 50 or 100. Or even between 100 or 400. The same strategy implemented over a 2 month period could show you a net loss of $5000 while over a 4 month period could show you a net gain of $5000. In fact you will never have a good idea of the validity of your strategy unless you do at least several hundred trades in a year timespan.
Fortunately, modern technology makes it easy to backtest your strategy. When you do this, you will find that no matter how "appealing" or "convincing" a simple system seems, it does not work over the long term. No exceptions. Take this to heart as you read books purporting to offer a way to make "$100/day" trading forex or futures or whatever.
That said, you can tell where I'm going with this review. You have to be wary of books that show you examples that fit the theory, without showing you how to handle the 50% of the time when it's contrary to the theory. The only worthwhile things in this book are the few vague, general cliches like "Cut your losses short" and "don't take trading tips from other people." Unfortunately, no matter how good a cliche sounds, it means nothing in terms of real money.
Here's one of my favorite quotes: "Easy to follow and extremely profitable trading strategy to get you started in trading." Wow, why would that work only as a "getting started strategy?" Gee if something like that existed, it would be my go-to strategy all the time. There wouldn't be any reason to learn anything else.
I hope this lengthy review will prove useful to readers who might otherwise be duped into putting their hard earned money into an endeavor that can be very tricky for many reasons, not just the technical aspect.
If you're adamant about learning how to trade, you would do a lot better with a book like Forex Price Action Scalping by Volman. At least there you'll learn some legitimate things about price behavior.
I'm sure the author's intentions are good, but one cannot teach someone to trade with vague, general statements. You need an itemized trading strategy, you need to show examples of how to handle losses, and there needs to be a plan for making up the inevitable strings of losses that occur over time. You need to show the plan in action. Since this book covers none of these, I cannot give it more than 1 star.
28 of 33 people found the following review helpful.
Good advice from a seasoned trader.
By R Rogers
The author answers questions very quickly and in detail. He will help you in anything you need to understand about his books. After his fast responses I bought all of his books available on Amazon. I started on "Follow Price Action Trends" since I thought this was most likely to be the style of trading I would prefer. He recommended this book "Build Your Forex Trading System" as the starter to give me a better overview of all of his books and a variety of trading styles. I agree, start here. This book will help you understand the differences in the styles. Mr. Damir is making his money trading and has been good enough to help us who are learning to be able to improve our trading. He is not trying to get rich selling courses with empty dreams, like most of the experts. For the knowledge you will gain all of his books are a bargin. His explanation of lot/trade sizing has helped me a great deal more than the other courses I have taken. I recommend you start with this book and buy all of his other books. For the price you will learn far more then you are spending.
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