100 Pips Daily is a forex trading system. 100 Pips Daily is a scalping forex trading system. The 100 pips daily forex trading system consists of heavy algorithms yet it is a very simple forex trading system. The 100 Pips Daily consists many forex trading indicators but you don’t need to use all of them to make effective trading decisions. You should only use some few indicators which are significant. Since this is a scalping forex trading system you should choose timeframes like 5 minutes, 15 minutes, etc. But we don’t recommend you to trade in 1 minute chart. Regarding the currency pairs you should trade only majors because they are more volatile and they consists of less spread than other pairs.
When you install 100 Pips Daily forex trading system in your trading platform, your chart should look like this:
- Moving Average
100 pips daily forex trading system consists of moving average of 50 days. The 50-day moving average tells you about the direction of the market. As a general rule of the market, when the market is above this moving average, it indicates bullish market. Whereas, when the market is below the moving average, it indicates bearish market scenario.
- Half Trend
Half Trend is a custom made technical indicator which is basically a moving average. When this indicator is blue, it indicates bullish market scenario and when the half trend indicator is pink, it indicates bearish market sentiment.
This forex trading system consists of blue and pink arrows. The pink arrow pointing downward indicates the selling signal while the blue arrow pointing upward indicates buying signal.
- Woodie CCI Panel
Woodie CCI Panel consists of histogram which fluctuates in positive and negative territory. When the histogram is in positive territory, it indicates buying pressure and when the histogram is in negative territory, it indicates selling signal. There are two versions of Woodie CCI Panel indicators used in this trading system. Both of them usually generate the same signal.
Buying Conditions Using 100 Pips Daily System.
- Market should be up trending.
- Market should cross above the 50-day moving average.
- Half trend indicator should be blue.
- The Woodie CCI Panel indicator should be in positive territory.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the market crosses below the 50-day moving average.
Selling Conditions Using 100 Pips Daily.
- Market should be down trending.
- Market should cross below the 50-day moving average.
- Half trend indicator should be pink.
- The Woodie CCI Panel indicator should be in negative territory.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the market crosses above the 50-day moving average.
Download Free Forex 100 Pips Daily Strategy
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