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Posted by Felix on Sunday February 26, 2012 13:55:53:

I am talking about forex trading and if you follow simple rules, sticking to ten pips a day, you could make $3000 a month. I will update on this topic soon but for now, you can get $5 for free by signing up with Markektiva forex traders

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Comments:
Re: Ten pips a day could make $3000 a month Posted by Ijeoma on Saturday February 12, 2011 at 13:25:56:

Is forex trading risk free? I don't yet fully grab how people do it

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Re: Ten pips a day could make $3000 a month Posted by richard on Wednesday April 6, 2011 at 14:22:22:

who is the best forest broker

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Re: Ten pips a day could make $3000 a month Posted by Steven on Wednesday June 8, 2011 at 15:47:23:

Well there is Alpari, Marketiva, Oanda and Liteforex so it depends on which of them you want. They are all basically good although Alpari may probably have more users in Nigeria as they have training offices in places like Lagos and Abuja. It is probably their partners that are promoting the company

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Re: Ten pips a day could make $3000 a month Posted by Taiwo on Friday June 10, 2011 at 19:52:23:

Please i want to make a big money

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Re: Ten pips a day could make $3000 a month Posted by Olisaemeka on Tuesday June 14, 2011 at 15:35:27:

Well this is assuming you actually get ten pips profit a day. It it is consistent, the profit would be really huge. I have tried something like this before but the problem is being able to overcome greed. At times, the market becomes so bullish that you are tempted to eye for 50 pips and more and in the end, one ends up losing more than winning.
I have one question though - What if all my entries for the first 5 days end up in red pips or losses. Should I continue with the strategy or not?

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Re: Ten pips a day could make $3000 a month Posted by Felix on Friday October 7, 2011 at 17:27:23:

Well if you are trading the euro.usd, ten pips can be considered too tight so going for something like 20 to 40 pips a day is more considerable

Here is how you can trade forex for 20 days in a month with just $1000 dollars start up capital.

This strategy is called early bird strategy and we only trade short term with high margin.

Steps:
1. Divide your capital by 20 days eg. $1000/20 = $50

2. Let that $50 be your risk or max daily loss and $100 be your daily profit target

3. At exactly 6am Nigerian time, log into your forex platform and look at the chart.

4. If it seems bullish, place a buy entry by buying 50,000 units of eur/usd. This means that for every 1 pip gained, you stand to gain $5 and the same for every loss. Remember, always buy with a stop price

5. Immediately set your exit target at 10 pips. You can leave your stop loss open since we are only trading for about 30 mins. So if you win, you would gain $50.

6. Allow the trade to run for about 30 to 45 mins

7. If it hits your profit or loss, call it a day, else close it manually before 7 am, even if you have a loss.

8. Repeat the same process every trading day for 20 days and you would have made an extra $1000 on top of the $1000 you already have. .

The idea behind this is that the eur/usd tends to appreciate everyday especially before the London session opens and this normally happens by 6 to 7 am Nigerian time. So with early bird, you never miss the worm . Those few pips could make you money if you trade big but with small pip targets in the ranging market.

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