In this post I will be reviewing the 50 Pips A Day manual forex trading system. This is yet another manual forex trading system developed to be used in the MetaTrader 4 (MT4) trading platform. MT4 is free to download from most forex brokers across the globe and you can get started with a free demo trading account to practice manually trading the forex markets with trading system such as 50 Pips A Day. It is a relatively simple and basic trading system that wouldn’t be much different from using the default indicators provided for free within the MT4 trading platform and thus I do not believe it provides anything different in my personal opinion.
50 Pips A Day Trading System
As mentioned above, 50 Pips A Day is a very basic system but the beginner forex traders amongst you may find it useful although there are better systems, 50 Pips A Day is not an expensive purchase.
The aim of this system as the name suggests is to target 50 pips a day. Now, whilst 50 pips a day consistently would be nice, getting them every day would be the hard part.
Furthermore, to get 50 Pips A Day you would most likely need to catch big trends and thus I would personally focus on the major and most liquid currency pairs such as the EURUSD & GBPUSD as they tend to move the most, although it can be used on any pair and any time frame.
I find that the higher time frames such as the 1 hour charts and above can sometime catch mid-long term trends whereas I find that the lower time frames can have too much noise.
I would personally use an ECN forex broker for lower trading costs as they will usually have the lowest spreads, commissions and minimal slippage due to the amount of liquidity providers (LP’s) used.
One of the keys to using the 50 Pips A Day system would be to have good money management so I would probably want to cut losing trades short and let winning trades run to increase my chances of hitting the 50 pip daily target.
50 Pips A Day Summary
Overall, I would say the 50 Pips A Day system is very basic and it’s usefulness will depend hugely on the traders emotions, patience, discipline and of course plenty of practice with sensible money management!
There are more complex and detailed manual forex trading systems out there and there isn’t really anything about 50 Pips A Day that makes it stand out from the rest. What it does can be achieved using the MetaTrader 4 default indicators.
50 Pips A Day comes with detailed instructions, full support and a money back guarantee.