20 pips a day forex strategy is a trading system that enables a trader to achieve 20 pips daily and at least 400 pips a week. According to this strategy, we need to choose only volatile currency pairs. Thus, EUR/AUD, EUR/CAD, GBP/AUD, GBP/USD, and some other minor and major pairs are the perfect choices for this strategy.
20 pips forex scalping strategy fully explained
We will target only 20 pips a day so any scalper can easily trade with this system. for applying this system, we need 2 indicators. One is a momentum indicator, and another is a 21 smoothed moving average. Our momentum indicator’s settings will be 8 periods.
Buy rules
When any bullish candle closes above 21 periods smoothed moving average, then we will check whether our 8-period momentum indicator is adobe 100 or not. If it remains 100, then we will open a buy order.
Sell rules
When any bearish candle closes below the 21 periods smoothed moving average, then we will check whether our 8-period momentum indicator remains below 100 or not. If the 8-period momentum indicator remains below 100, then we will open a sell order.
Trade management
To buy, Place your stop loss below that bullish(order placing candle) candle and 21 periods smoothed indicator.
For sell, order place your stop loss above the bearish candle(order placing candle), and 21 periods smoothed moving average.
This is How do you get 20 pips a day in forex. For both our buy order and sell order, our take profit will be obviously 20 pips as it is 20 pips a day guaranteed system.
How much is 20 pips
It is not possible to point out how much is 20 pips as your profit or loss amount is based on your lot size. For example, suppose if you trade on a standard account and use a 1.00 lot. If you gain 20 pips, then your profit will be more or less 200 dollars.
But if you use 10.00 lot size, then your profit will be 2000 dollars. So the summary is how much are 20 pips depending on how many lots you are using in your trading.
Is 20 pips a day good? Is 30 pips a day good?
If your balance is heavy, then 20 or 30 pips is enough for you. You can make a huge profit even with these 20 or 30 pips. But if your balance is not that bulk, then you should trade on a couple of pairs. Because if you trade on a couple of pairs, you can get an opportunity on different pairs. In this way, you can multiply your 20 pips. Scalpers will be happy getting this rock-solid 20 pips a day scalping forex trading strategy. If scalpers scalp with this system, they could make a considerable amount, even with a small amount of money.
50 pips a day forex strategy
If you are a swing trader and don’t trade too much, wish to get only a handful of trade setups, then just change your timeframe. Here in this strategy, we apply 30 minutes timeframe. But if you look for 50 pips a day forex strategy, then use a 4-hour timeframe. You will get 50 pips a day quickly.
20 pips and dip indicator
I narrated everything about What does 20 pip mean in forex, how you can make money on forex 20 pips a day strategy still; some newbies will search for 20 pips and dip indicator free download.
These newbies know the truth about these fancy paid indicators and end themselves losing their whole capital trading with these garbage indicators.
If you practice the whole strategy perfectly then, you won’t need any fancy indicator to download from any garbage site. Instead, use default momentum and smoothed indicator found in mt4 and apply the 20 pip strategy! Nothing more is needed.
20 pips challenge pdf
If you are a pdf lover and wish to download pdf book, then read then you also have a surprise from us. Just download 20 pips a day forex strategy pdf from here and read. Enjoy! I call it 20 pips challenge pdf as if any trader read this pdf attentively; he will make 20 pips a day for sure. I challenge you!
20 pips a day compounding spreadsheet
Many professionals always calculate how many pips they can achieve at the end of the month or year. That’s why they need a compounding spreadsheet. For you professional guys, I am attaching here 20 pip challenge excel download form. Just get it from here and edit the value if you wish. If you are a google products lover, then I have an option for you also.20 pip challenge google sheets are for you. Whether excel sheet or google sheet, get everything from here and use it in your day-to-day trading.
Forex average pips per day
If you want to scalp the market, you should target 300/400 pips per day on average. That’s enough for one day. So those who think “is forex scalping profitable” just think about the scenario. any scalper can make as much as what any swing trader makes, even a whole week long. Now, after reading these lines, many day traders will search how to do scalping in forex.
Well, that’s not wrong as all of the trade to make a profit and more pips mean more profit, so scalping is not a bad thing. But if you want to be a scalper, you need to be smarter than any day trader. You need to be faster in executing a trade. You need to apply a solid profitable strategy again and again. Before googling “how to use scalping in forex,” just read the whole 20 pips a day forex strategy I stated above, and you will get your answer.
How many pips per day forex varies according to your trading style. If you are a day trader, then 70/80 pips are enough for you for one day. If you are a swing trader, then 50/60 pips per day are more than enough for you on average.
Conclusion
As in this piece of content, I described everything about how to make 20 pips a day in forex. So if your target is more than that, like if you are looking for 10 pips scalping strategy or if your target is more than this like if you are looking for 100 pips a day forex strategy then we have some more content covering these topics. So just find your favorite one and keep studying. Enjoy!
FAQs
How do you get 20 pips a day in forex?
Using the strategy of 21 periods smoothed moving average and 8-period momentum indicator described above, you could easily make 20 pips a day in forex.
How many pips should I aim for per day?
If your trading strategy is based on 21 periods smoothed moving average and 8-period momentum indicator, then you should aim for 20 pips per day.
How does the 20 pip Challenge work?
20 pips challenge is not stiff if you trade with the strategy based on 21 periods smoothed moving average and 8-period momentum indicator. For example, if any bullish candle closes above 21 periods smoothed moving average and at the same time momentum indicator is above 100, then you can take buy trades. Thus, it is possible to make 20 pips in every trade you take.
Hello,
I have 2 questions about 20 pips a day challenge. What’s the best timeframe to use this strategy? AND How many pips to set for stop loss on small accounts?
Thank you.
More or less 20 pips stop loss and it would be best if you use 60 minutes timeframe.