RET40-PIPS STRATEGY

RET40-Pips Strategy

The RET40-Pips strategy is a simple trading strategy that some Forex traders use on a daily basis. For this strategy, the currency pair price is expected to move more than 40 pips away from the day’s open price. Price retracement may occur at this point where some pips can be scalped.

The time considered for this strategy is exactly at the start of the day’s session. A demo account will be ideal for practice purposes before using a live/real account to test this strategy.

One can trade the following pairs successfully with this strategy; EURUSD, GBPUSD, GBPJPY, and GBPCAD.

The time frame on the MT4 chart for this strategy is the Daily time frame. At the Start of the day, using the RET40-Pips Strategy, two pending orders can be opened – SELL LIMIT and BUY LIMIT orders.

 

 

 

 

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How it works

Basically, at the start of the day’s session, the currency pair open price is identified (example for EURUSD open price =  1.13015). Pending orders of buy and sell limits are then placed 40 pips away from the open price (example buy limit is placed at 40 pips below the open price = 1.12605, while sell limit is placed at 40 pips above the open price = 1.13415).

However, the take profit for both the buy and sell limits will be 10 pips while the stop loss will be 20 pips (reward to risk ratio 1:2). The take profit point of the buy limit order will be 1.12715 while the stop-loss is 1.12415. The take profit point of the sell limit order will be 1.13315 while the stop-loss is 1.13615.

 

RET40-PIPS Signals

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