New to learning to trade | Forex fórum od Myfxbook

Členom od Apr 25, 2014 1 príspevkov

Apr 26, 2014 at 15:44

Členom od Apr 25, 2014 1 príspevkov

I want your opinions. Is it realistic to shoot for a 50 pip gain per day? Is that possible on average? If not what is more realistic?. Secondly since I am on the west coast of the US and will only be able to dedicate time after work. like 4pm on. What might be the best pairs to start to follow?

Thanks in advance

lostfox

Členom od Aug 04, 2011 8 príspevkov

May 06, 2014 at 19:23

Členom od Aug 04, 2011 8 príspevkov

My first mentor recommended looking for 200 pips per month. However, I would say that kind of goal is highly dependent on how you trade. If you are taking trades off daily charts, banking 50 pips every day may be pretty tough.

As far as pairs to follow... I stick with the major currencies:
EUR, GBP, AUD, USD, CAD, CHF, JPY

And find the pairs that suit your system well.

I personally use:
EURUSD, GBPUSD, AUDUSD, EURJPY, AUDJPY, NZDUSD, USDCHF, EURCAD, CHFJPY, GBPCHF, EURAUD, CADJPY, GBPCAD, GBPAUD, AUDCAD, NZDJPY, EURNZD, NZDCAD

Hope that helps...

The Trend is your Friend. ~~

tigpips

Členom od Jun 09, 2011 186 príspevkov

Jun 19, 2014 at 12:18

Členom od Jun 09, 2011 186 príspevkov

I prefer to scalp on certain pairs that I have a higher winning % on, keeping most of the trading holding duration from a second to a few mins. But you need high computational power and a very very good connection to your broker for this to happen.

50 pips a day, you need a pair that has high volatility. GBPJPY or GBPUSD or USDJPY.

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