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50 Pips A Day Forex StrategyStart making consistent profits in the forex market.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.ComponentsSupport and ResistanceCandlesticksMoving AverageTime frame - 4 hours chartIt is easy to understand and to put in practice.It has very well defined entry, stop loss and exit levels. Apart from th

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Book ID Asin: 1522086587
Book Title: 50 Pips A Day Forex Strategy
Book Author: Laurentiu Damir
Book Format and Price:
Book Format Name: Kindle
Book Format Price: $0.00
Book Format Name: Paperback
Book Format Price: $9.99
Book Price: $9.99
Book Category: Books, Business & Money, International and unknown
Book Rating: 1,434 ratings

50 Pips A Day Forex Strategy by Laurentiu Damir Book Review

Name: Freddy L Robinson
Rating: 5.0 out of 5 stars
Title: Simply strategy that works!
Date: Reviewed in the United States on August 24, 2022
Review: As a new trader I found this book to be very useful. In following the teachings and strategies presented, I discovered that it much easier to make profitable trades when you keep it simple. Countless guru's flaunt wealth and charge you hundreds of dollars for nothing. However, this book is a keeper, without all of the glamorous hype. Well done!

Name: J. Ward
Rating: 5.0 out of 5 stars
Title: A must read for any trader!
Date: Reviewed in the United States on September 24, 2016
Review: Wow, do not discount this book because it is free!

I'm a successful futures/commodities trader, trying to get better at Forex. This book is brilliant. Trust me.

This book targets beginners to intermediate traders. You should be somewhat familiar with charts and candlesticks but don't need to know any of the standard "Japanese Candlestick Strategies". Just know how to read the chart. I imagine most people trading Forex will be advanced enough to read this book without any problem.

This book gives a super boring strategy! This is good. If you want action and excitement, trading is not for you. The advice in the first half of the book before the actual "50 pips a day strategy" is worth hundreds of dollars and applies to any strategy you employ. Based on the writing, I think the author would agree that your strategy is irrelevant. Almost anything can work. Sound risk management is key. Patience is key. Waiting for your ideal setup is key. Don't just jump in because you are bored or impatient. The author really stresses this and it is what makes this book SO good.

It's short and easy to read. I'd recommend reading it straight through, and then trying to find some setups that match. Trade the strategy a bit. It stressed 4H charts. That means each bar represents 4 hours! These trades are LONG. You have to wait a long time! It may not be clear at first. After trying it out a bit, risking little, re-read at least the first section and ask yourself very deliberately and honestly whether you are following the advice on entries and risk management. That may be your problem if you aren't. It could take weeks before a good entry materializes and weeks longer before your exit points. Oh well. That's how it works. This is a good thing. I know a lot of people won't see it that way. Quick money is the way to lose money.

Overall, yes, it's fairly simple. Yes, it's a slow strategy. It is very good though. I recommend it for those even uninterested in the strategy just to get the excellent advice in the first half.

Name: ArtFan
Rating: 1.0 out of 5 stars
Title: Misleading
Date: Reviewed in the United States on January 25, 2013
Review: The only way to know whether a trading strategy is viable is to test it over a very large number of trades in a large timeframe. No matter which strategy you use, the more trades (round turns), you complete, the more accurate the results will be. There is no accuracy whatever to a small number of trades - small number meaning 50 or a couple hundred.

It is very commonplace to see wildly different results between 10 trades, or 50 or 100. Or even between 100 or 400. The same strategy implemented over a 2 month period could show you a net loss of $5000 while over a 4 month period could show you a net gain of $5000. In fact you will never have a good idea of the validity of your strategy unless you do at least several hundred trades in a year timespan.

Fortunately, modern technology makes it easy to backtest your strategy. When you do this, you will find that no matter how "appealing" or "convincing" a simple system seems, it does not work over the long term. No exceptions. Take this to heart as you read books purporting to offer a way to make "$100/day" trading forex or futures or whatever.

That said, you can tell where I'm going with this review. You have to be wary of books that show you examples that fit the theory, without showing you how to handle the 50% of the time when it's contrary to the theory. The only worthwhile things in this book are the few vague, general cliches like "Cut your losses short" and "don't take trading tips from other people." Unfortunately, no matter how good a cliche sounds, it means nothing in terms of real money.

Here's one of my favorite quotes: "Easy to follow and extremely profitable trading strategy to get you started in trading." Wow, why would that work only as a "getting started strategy?" Gee if something like that existed, it would be my go-to strategy all the time. There wouldn't be any reason to learn anything else.

I hope this lengthy review will prove useful to readers who might otherwise be duped into putting their hard earned money into an endeavor that can be very tricky for many reasons, not just the technical aspect.

If you're adamant about learning how to trade, you would do a lot better with a book like Forex Price Action Scalping by Volman. At least there you'll learn some legitimate things about price behavior.

I'm sure the author's intentions are good, but one cannot teach someone to trade with vague, general statements. You need an itemized trading strategy, you need to show examples of how to handle losses, and there needs to be a plan for making up the inevitable strings of losses that occur over time. You need to show the plan in action. Since this book covers none of these, I cannot give it more than 1 star.