Foreign Exchange - Getting 50 Pips Each Day

Getting 50 pips daily? 1 pip on a typical lot is equal to $10

. So making 50 pips every day means making $500 daily. Vital thing is how do you make 50 pips. The top strategy in making 50 pips daily is scalping. Scalping is a strategy that entails entering and exiting the marketplace quickly each time making 30-50 pips.

Scalping is done on shorter timeframes like the 5 minutes and also the 15 minutes. The top time for scalping is when their is low volatility in the market also it is moving sideways. When the marketplace is moving sideways, it is ranging and the price action is moving up and down between two almost horizontal lines called the support and resistance.

Support is that level where buyers consider that the price is attractive so that they enter into the marketplace in large numbers. When buyers enter into the marketplace in large numbers, prices start to rise for the reason that demand is over the supply within the market.

The prices rise till they reach the level where the sellers start selling in large numbers as they consider that the prices have gone too high and it's the best time to sell. This large selling in the market drives the prices down. Prices fall till they again hit the support level where buyers again start buying in large numbers thinking that this price is a good buy.

So, it is the perfect time for scalping. You will buy on the support and sell at the resistance and in the process make pips. It depends upon the width of the range, the amount of pips you can make. If the range is simply 10 pips, then simply don't trade it. Always, use a stop loss when you enter the market. This protects you from obtaining a big loss.

However, if the range are a few things like 30-50 pips, that is the best scaling opportunity. Just learn when to enter the market and when to exit. Now, you may as well take advantage of a scalping robot to automate this process. There are a selection of excellent scalping robots that do scalping at times of low volatility in the market and make in Forex 50 Pips daily.

Using this scalping robot can make the process automated for you and you won't have to sit in front of your PC looking forward to the price action to hit the support and then hit the resistance. Just ensure that the robot trades with a tight stop loss and not a large one.

by: darr46oera

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