50 Pips daily set and forget

The “50 pips Daily- Set & Forget” system is a very easy set and forget system where you don’t have to watch the market day and night. It is perfect for beginners and people with 9am-5pm day jobs.

The algorithm is based on a 6:00pm est – 6:00pm est (yesterday – today) range and Asian Session opening around 7:00pm est.

Let’s begin:

Forex Candlestick charts show sets of data consisting of open, high, low, and close values of each period.

The hollow and filled section is called “the body”. The lines above or below “the body” are called shadows or tails. If the stock has closed higher than the opening price, then a hollow candlestick is drawn. In addition, if the stock closed lower than the opening price, a filled candlestick is drawn. In a hollow candlestick where closing price is higher than opening price, the lower body shows opening price and the upper body shows closing price. In a filled candlestick where closing price is lower than opening price, the lower body shows closing price and the upper body shows opening

price. Hollow means stocks up and filled means stock is down.

The system works on the majors pairs.

The rules of this system are simple, and managing trades, and calculating levels will take no more than five minutes of your time. The only tricky part is using your knowledge to set limit orders.

This trading system involves 3 simple steps.

1. Get ready around 6:00 pm EST

2. Identify your entry levels

3. Place 6 limit orders

The Strategy Step by step:

. 1. At 6:00pm EST pull a 2H (or 1H or 4H - doesn't matter - it will be used only to determinate high/low of the 24 hour) chart USD/JPY. See example above.

2. Identify the USD/JPY high and low of the 24 hours period

from 6:00pm to 6:00pm ( let’s take an example high=90.50 and low=90.00 )

3. Identify your entry levels

Set 3 BUY orders 7 pips above the high (high + 7 pips)

Order 1 Entry: High +7pips

Set take profit 15 pips and stop loss 25 pips

Order 2 Entry: High +7pips

Set take profit 35 pips and stop loss 25 pips

Order 3 Entry: High +7pips

Set take profit 50 pips and stop loss 25 pips

Example:

USD/JPY High=90.50 Low=90.00

Order example 1 LONG=90.57 Take Profit=90.72 Stop

loss=90.32

Order example 2 LONG=90.57 Take Profit=90.92 Stop

loss=90.32

Order example 3 LONG=90.57 Take Profit=91.07 Stop

loss=90.32

5. Set 3 SELL orders 7 pips below the low (low -7 pips)

Order 1 Entry: Low -7pips

Set take profit 15 pips and stop loss 25 pips

Order 2 Entry: Low -7pips

Set take profit 35 pips and stop loss 25 pips

Order 3 Entry: Low -7pips

Set take profit 50 pips and stop loss 25 pips

Example:

High=90.50 Low=90.00

Order example 1 SHORT=89.93 Take Profit=89.78 Stop

loss=90.18

Order example 2 SHORT=89.93 Take Profit=89.58 Stop

loss=90.18

Order example 3 SHORT=89.93 Take Profit=89.43 Stop

loss=90.18

6. Done! You don’t have to monitor your trades. All will be

done by your limit orders.

IMPORTANT: CANCEL ALL ORDERS IF NOT TRIGGERED ON

THE NEXT DAY BEFORE 6:00pm EST

Do not trade: If the 6pm – 6 pm range is too big – over 150

pips.