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50 Pips A Day Forex Strategy [Kindle Edition]

Laurentiu Damir
4.3 out of 5 stars  See all reviews (85 customer reviews)

Kindle Price: £0.99 includes VAT* & free wireless delivery via Amazon Whispernet
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Book Description

50 Pips A Day Forex Strategy
  • Start making consistent profits in the forex market
Components
  • Support and Resistance
  • Candlesticks
  • Moving Average
  • Timeframe - 4 hours chart
Summary
  • 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
Do you have a forex trading system and you have been trading with it for a period of time but still you don't have the success you hoped for ?
  • 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
This book teaches you how to construct your own powerful forex trading system, what are the most important forex trading tools that you must include in it, what not to include in your forex trading system, how to apply solid money management rules and equaly important, how to avoid making trading mistakes that will cost you when you start to trade with your newly developed forex system. If you require further details feel free to contact me at damirlaurentiu@yahoo.com

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Customer Reviews

Most Helpful Customer Reviews
5 of 5 people found the following review helpful
4.0 out of 5 stars Worth a read but don't take as gospel 22 Nov. 2013
Format:Kindle Edition|Verified Purchase
There are a lot of good things in this book. The author covers the details in regards to the practicalities of running a strategy. There are some good bits of advice such as “you should always think first about what can go wrong about a trade and not get emotional“. Tehre is also some practical tips on working out stop loss levels and how to walk the stop loss through the trades lifetime. There is a little bit of fudging assumed by the book in regards to when to ignore certain patterns but the author is right to do this if there is an assumption the reader is not a novice. The other thing that I liked a lot is talking about timing and trade entry. To its important to let bars close before they are used and to look for strong confirmation bars before risk is taken.

There are some statements made early in the book in regards to the types of trades that should be taken which I would question. The authors advice is to trade 4 hour bars and to look for trades with 1:2 risk reward ratio. This is only their personal preference and it should be pointed out there is nothing wrong with trading lower or higher time frames or taking different risk reward ratios. Some of the justifications around why a person should trade on a longer time frame I would also call into question. If you truly scalp then you’re less susceptible to event/data release risk as you do not have to hold risk over economic numbers. The other thing I will point out is a single bar can be the difference between a really good trade and missing the boat. What if that bar happens at 4 in the morning when japan comes in and you’re not awake to trade? Then next entry could not be for a week.

The book has good ideas and good advice. It is for the reader to separate personal preference from the more general good advice.
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2 of 2 people found the following review helpful
By lauram
Format:Kindle Edition|Verified Purchase
Bought this having not even looked at a chart for over a year. Have learnt a lot of basics previously from a full time trader but want to reinforce my knowledge to make sure I fully understand price action before I start trading again. Previously was using various strategies with too many indicators - just want to understand price action and make decisions more or less on that alone. This book was great for what I wanted and I will definitely be buying the others. Spelling and grammar errors normally annoy me, but this isn't a novel, it's about getting relevant information across. There are not that many anyway and it didn't stop me understanding anything. Yes, on a Kindle the diagrams are a bit small and you don't have the colour, but at the end of the book it says you can send for the PDF anyway to print out so I don't see it as an issue. Would recommend for beginners and as a back-to-basics refresher for the more advanced.
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3 of 3 people found the following review helpful
5.0 out of 5 stars great strategy 14 Aug. 2013
Format:Kindle Edition|Verified Purchase
very solid trading method deals with longer timeframes which is something i have been looking into so i have found this book very informative
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2 of 2 people found the following review helpful
5.0 out of 5 stars For you to learn a trading strategy 31 May 2013
Format:Kindle Edition|Verified Purchase
I know this information is on web sites, but I like a quick read with all the information in one place.
(basically because I find with all the web sites out there I just end up being confused).
This book explains a simple to use strategy which will make you money it
will be part of my trading approach.
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2 of 2 people found the following review helpful
5.0 out of 5 stars No nonsense clear cut strat 9 Dec. 2013
By Michael
Format:Kindle Edition|Verified Purchase
A very good simple strat with all the info you need to execute it. Also good advice on money management and risk reward ratios. No pages of sales waffle and filler here, only what you need to know and how to do it.

Very good!
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6 of 7 people found the following review helpful
5.0 out of 5 stars Simple Strategy 27 Feb. 2013
Format:Kindle Edition|Verified Purchase
This is a very simple strategy that works. You do, however need to be patient which is KEY in Forex. However, once you learn the system, then you will be rewarded.
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5.0 out of 5 stars Simple and excellent 9 Dec. 2013
Format:Kindle Edition|Verified Purchase
There is nothing particularly exciting in here or any of Laurentiu Damir's books, no claims of a holy grail or short cut, and no indicators with complex names (or in fact any indicators except MAs) or promises of riches, so anyone looking for that mirage should go somewhere else - there is in each book a simple self-contained system that can be practiced immediately.

Each system uses the same building blocks - specifically, ways to spot shifts in the distributions of buyers/sellers using candles; places at which to look for action (hor and diag S/R and Fib levels); and how you can determine momentum (using the price action on two or more time frames and the Moving Averages) so as to only trade in this direction and therefore maximise the chances of a profitable trade.

They are all excellent, and even though my trading system is already remarkably similar to these, I learned some new things and have many new suggestions to think about. Highly recommended.
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5.0 out of 5 stars Looks good 23 Jun. 2014
By handlep
Format:Kindle Edition|Verified Purchase
I have spent a good number of years trading, and I have read many, many books. Laurentiu's book has some sound, common sense information, which if applied carefully and methodically should work for you. I saw one review stating this would lose you money in anything but a trending market - well I'm not sure I agree, because part of the method is checking if there is a trend, and if there isn't, you wouldn't get the trade setup, so theoretically it would keep you out of a ranging market. There is no strategy or method which will suit every trader, and there is no one single 'right' strategy - there are lots of strategies which all work in their own way - this is one of them. If you are a newcomer to Forex trading, this will not give you all the information you need, but it does not claim to do that. If you read something in here which you don't yet understand (like moving average, support & resistance, etc), just Google it and learn it. Good luck with your trading.
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Most Recent Customer Reviews
5.0 out of 5 stars An excellent ebook on the basics of making forex work for ...
An excellent ebook on the basics of making forex work for you. Clear advice on using a few tried and tested routines to provide a reliable daily strategy.
Published 25 days ago by Colin Dwelly
4.0 out of 5 stars Four Stars
Interesting.
Published 1 month ago by on behalf of the wife
5.0 out of 5 stars A Must Read for anyone looking to trade the Forex
This a great introduction to trading the Forex. Very easy to understand and takes the complication out of understanding the charts. Read more
Published 1 month ago by Gary
4.0 out of 5 stars Some good rules for a total novice
As a total novice for forex trading this book is concise, and provides some basic rules for trading. Read more
Published 2 months ago by Malc
5.0 out of 5 stars Amazing
So helpful and simple English that I understood. I loved it. Going to get more of this authors books. Amazing!
Published 3 months ago by SAIDA
3.0 out of 5 stars Ok, but lost my way a little
I think you need to be serious and not cynical to appreciate this book
Published 4 months ago by JR
3.0 out of 5 stars ok
Can't go wrong for the price so i would say it is be good and simple easy to follow. Buy it
Published 4 months ago by Jerrell polius
3.0 out of 5 stars Content is good but the guy can't speak English (which he apologises...
Content is good but the guy can't speak English (which he apologises for).
Published 4 months ago by C. Naylor
4.0 out of 5 stars very good book
I like it very much carry mate best if juss start trading no more indicators purely prise actions clean and simple
Published 5 months ago by habib
3.0 out of 5 stars Three Stars
I have no comments to add to this as I have stopped trading forex.
Published 5 months ago by MR DANIEL CORMIER
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