How many pips a day ?
Member Since Aug 05, 2017
289 posts
Feb 24, 2019 at 08:18
tracydavison posted:
interesting thread :) im fairly new to trading so will be reading through all these comments!
Some interesting perspectives for sure.
Member Since Sep 12, 2015
1948 posts
Feb 24, 2019 at 21:24
If your going to be cashing in everytime you hit 10 pips ,your stop is going to be 3 pips which is way to little ,if its 5 pips stop 1 in 2 trades has to win to break even ,thats without fees ,typical stop for EUR/USD is at least 20-30 pips intra- day.Other pairs are different so do your homework before deciding.
"They mistook leverage with genius".
Feb 25, 2019 at 04:42
snapdragon1970 posted:
If your going to be cashing in everytime you hit 10 pips ,your stop is going to be 3 pips which is way to little ,if its 5 pips stop 1 in 2 trades has to win to break even ,thats without fees ,typical stop for EUR/USD is at least 20-30 pips intra- day.Other pairs are different so do your homework before deciding.
I agree with this. Some sources recommend for scalping 7-8 pips stop loss, but I think stop loss should be more than 10. I agree with 20-30, while 30 is a bit excessive. But in order to prevent a catastrophic flash crash 30 pips is more than Ok in daily trading.
Member Since Sep 12, 2015
1948 posts
Feb 25, 2019 at 13:20
niceGLer posted:
Of course, my intention was to say that 30 pips stop loss is good for day trading in H1 time frame.
Most of my stops on eur/usd are 10 pips or less but I been trading this pair for awhile ,what I do is let it move 20-30 pips beyond its indicator say its trading near the 50 DMA ,that normally clears out most stop hunting.
"They mistook leverage with genius".
Member Since Feb 22, 2011
4862 posts
Feb 25, 2019 at 13:35
It is indeed good thing to use SL/TP
It is not good thing on insisting to make xxx pips profit each day.
This may result in loss or avoidance of trading plan
It is not good thing on insisting to make xxx pips profit each day.
This may result in loss or avoidance of trading plan
Member Since Apr 06, 2018
254 posts
Feb 25, 2019 at 13:49
I use volatility based ATR stop loss instead of fixed pips.my take profit pips also based on ATR. For example for EURUSD my STOPLOSS pips are from 40pips to 100pips based on current volatility.
The market will trade through it’s path of least resistance .
Member Since Feb 25, 2019
10 posts
Feb 25, 2019 at 13:49
OK but what is typical amount of pips profit that a pro trader will make? 10pip , 100pip ? It would be good to know how far from making money I am
Member Since Aug 05, 2017
289 posts
Feb 26, 2019 at 07:02
AharonGorion posted:
OK but what is typical amount of pips profit that a pro trader will make? 10pip , 100pip ? It would be good to know how far from making money I am
They don't work in pips they work in percentage of account.
Member Since Sep 12, 2015
1948 posts
Feb 26, 2019 at 22:28
AharonGorion posted:Typically 3 times your stop loss ,longer time frames bigger gains.Eur/usd it's around 30-50 pips daily.
OK but what is typical amount of pips profit that a pro trader will make? 10pip , 100pip ? It would be good to know how far from making money I am
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Feb 26, 2019 at 22:44
niceGLer posted:snapdragon1970 posted:
If your going to be cashing in everytime you hit 10 pips ,your stop is going to be 3 pips which is way to little ,if its 5 pips stop 1 in 2 trades has to win to break even ,thats without fees ,typical stop for EUR/USD is at least 20-30 pips intra- day.Other pairs are different so do your homework before deciding.
I agree with this. Some sources recommend for scalping 7-8 pips stop loss, but I think stop loss should be more than 10. I agree with 20-30, while 30 is a bit excessive. But in order to prevent a catastrophic flash crash 30 pips is more than Ok in daily trading.
Regarding Scalping one needs to keep it as tight as possible but that takes experience ,it would be less and less ,if you catch the right moment it can be 5 pips stop.Scalping is a great skill to learn and great fun.
"They mistook leverage with genius".
Feb 28, 2019 at 06:54
jamesgwyther posted:AharonGorion posted:
OK but what is typical amount of pips profit that a pro trader will make? 10pip , 100pip ? It would be good to know how far from making money I am
They don't work in pips they work in percentage of account.
You can make the same amount of money from 10 pips as you would 100 pips depending on your lot size, which should be determined by your account size with proper risk management.
Profit is therefore calculated as a percentage, what that represents to each trader will be different in monetary value due to different account sizes.
Member Since May 21, 2013
7 posts
Feb 28, 2019 at 15:28
my target is 1% per day, my risk is up to 50% of my current equity.
for lot-ing, i usually use 200-1000 pips resistance; meaning it takes 200-1000 pips movement to reach stop out/margin call.
if i get more than 1% on that day, then i take that as a bonus.
for lot-ing, i usually use 200-1000 pips resistance; meaning it takes 200-1000 pips movement to reach stop out/margin call.
if i get more than 1% on that day, then i take that as a bonus.
jacobs_cooper@
Member Since May 21, 2013
7 posts
Mar 04, 2019 at 08:03
Mcross posted:
50% per day. WOW. you won't last long buddy. That is crazy risk for 1% gain. You should reverse those numbers, 1% risk per day and aim for 50% in a year.
thanks, i'll try that
jacobs_cooper@
Member Since May 21, 2013
7 posts
Mar 04, 2019 at 08:03
HumbertB posted:
1000pip stop loss is crazy. You will surely loss big time one day. That is no trading strategy it is just gambling
i think it's depend on lot-ing.
jacobs_cooper@
