The 20 Pip Strategy
Personally I love trading the GBPAUD currency pair (as many of our Ninja Forex Traders community know). In this video, I talk through a fairly simple yet high risk process for turning a small trading account into a larger trading account. This is for educational purposes and realistically is not for people who are new to trading Forex.
Some of you may easily be able to identify the entry points that I have used in the chart – and on the Live Sessions we share the additional indicators that we use to make things easier. Many traders look for as many confirmations as possible before getting into a trade and are looking for confluence of levels of support and resistance, moving averages crossing, engulfing candles, divergence and more, I know that I don’t talk through all of these elements in this video but it is purely a way of showing you how your initial financial risk does not have to be a huge amount – the equivalent of a large pizza, a bouquet of flowers, a trip to the cinema for example – yet the risk involved in the trade is high risk. It’s interesting stuff, let me tell you!
So if you want to know more about the strategy, how to use it and to get hold of the spreadsheet that I have used in the example, get in touch with the person that shared this with you.