How to make $300 a day in the Forex market? There are many ways, you can do that only if you know how to make 30 pips daily. 1 pip on the standard lot is equal to $10 so 30 pips means making $300. What you need is a Forex strategy that can make you 30 pips per day.
The simplest Forex strategy that can make you 30 pips daily is scalping. Scalping is the strategy of entering and exiting the market quickly in order to make 15-30 pips per trade. You will only need two winning scalping trades per day to make at least 30 pips.
So what you will be needing is a good scalping system that has proper entry, exit and stop loss rules. You should master that scalping system on your demo account and make consistent 30 pips daily. If not, replace the system with another one. It is better to look for a scalping system that does not take more than 2 hrs to make 30 pips daily. This way, you don’t have to stay glued to your computer monitor.
Whatever, scalping the market manually can be a time consuming and tiring process. There are many trader who haven’t mastered scalping even after years of trading experience. But, you can use a scalper robot that can do the work for you automatically. You just need to set the proper settings, test them and then let the scalper robot trade on your live account. Scalping is done when the volatility in the market is low. Use a proper stop loss so that in case of a loss, your account doesn’t get blown out.
But suppose, you are new to Forex trading and you don’t know scalping and have no idea how to make a scalper robot work. What should you do? There is a very simply strategy available for those people who don’t have the time to learn Forex trading and don’t have the time to trade Forex.
Subscribe to a good Forex signals service by a pro trader. Now a days, most of these pro traders are selling their live signals via sms as well as emails. They also provide you with the trade copier software that when installed on your account will automatically copy the live trades being made by these pro traders.
Most of these pro traders make somewhere between 30-50 pips. So, subscribing to these Forex signals by pro traders and using a trade copier software can make you an easy 30 pips daily or $300 in dollar terms.