50 Pips A Day Forex Strategy (Technical analysis)

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.

I just finished this book. It was a pretty good and straightforward read.I believe this book is great for intermediate beginners. What I mean by that is a beginner who has been trading a little bit and is familiar with basic concepts but still trying to figure out the discipline and strategic part.Overall, Laurentiu has provided a good swing strategy that should produce decent results consistently… IF you stick to the rules. For someone like me who is used to scalping, this will honestly be a little challenge. However, the 4h and duly is where the real profit with less risk is at.Some constructive feedback… I would have loved to have seen some more regarding money management. My problem with swings traditionally has been the much bigger stops needed to account for 4h and larger timeframes. I also would have loved to have seen more trade examples. I still feel like I don’t quite have a full understanding of all aspects of his strategy… but I suppose that I’ll change when I re-read it (I think it will be worth the second effort) and practice what I’ve learned. Regardless, this is a solid book with a solid strategy.I’ve seen some reviews attack his English and grammar skills. All I can say is that I wish I could know a second language with half the command that he has. It does require an occasional re-reading here and there, but honestly it’s not that bad at all.If I could have another opportunity to purchase this book or not, I most certainly would. I look forward to the other books.

Hi Sir Damir,I am new to forex trading and have been learning the past 2 months - reading books, looking at charts, listening to trading podcasts (I hope Chat with Traders would interview you someday) and youtube, doing the demo accounts, etc. Though I could say that have learned so much in the past couple of months, I could say I've learned so much more the past few days reading your books.I stumbled on your "50 Pips a Day" strategy kindle book and found it to be very logical. So I bought your books one by one and read it, until I ended up buying and reading all of it in a span of 3 days. Each time I read a book, I discover something new and not just a concept but the whole strategy itself.I've heard one trader from a podcast who once said "there is always something happening in the market", and in deed it is true. But the thing is most do not know how to take advantage of what is happening. With all those strategies at my disposal, I think I could trade at all types of market (trending or ranging) and at high and low time frames and approach it at different angles.I'm currently in the process of back testing the strategies this week.Thank you!!!! Happy New Year!!!!To get the most out of this brilliant author though, you should buy all the other strategies. You might find this particular book too long to trade since it is in the higher time frame and might conclude not to take time to check out the other books, but I would say by doing that your missing out. He also has other strategies that pertains to day trading and uses lower time frames.