Feb 18 2019 at 15:32
Pacifico posted:
If you make on average 5 pips a day every day that is around 1250 pips a year. If you start with 1 Lot, compound your account and increase the stake size that is some pretty good annual profit.
That is just it. Fools make statements that one can`t profit with such small lots, when the reaity is if you have an accurate system, you wont have to aim for large amount of pips anyway. Say I want to risk 5% of my account on one recommendation. I can have a 5 pip sl and make it where each pip is 1% risk! With an accurate system, even 5 pips would seem like 100 pip and hard to hit if you have a great understanding of tick charts. When people trde the horly and monthly, clearly 5 pips wont even fall into your calculation.
Feb 20 2019 at 07:00
interesting thread :) im fairly new to trading so will be reading through all these comments!
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.
I have seen '10 pips a day' around the internet a lot.
Agree with many of the comments and yes 5 pips a day will not set you free if you stick to tiny lot sizes. What sets you free is the compound effect of that 5 pips per day.........
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".
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.
Of course, my intention was to say that 30 pips stop loss is good for day trading in H1 time frame.
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".
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
