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How many pips a day ?

EUforexHack
Feb 18 2019 at 15:32
posts 28
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.
tracydavison
Feb 20 2019 at 07:00
posts 34
interesting thread :) im fairly new to trading so will be reading through all these comments!
jamesgwyther
Feb 24 2019 at 08:18
posts 289
tracydavison posted:
interesting thread :) im fairly new to trading so will be reading through all these comments!

Some interesting perspectives for sure.
Molly141
Feb 24 2019 at 10:50
posts 25
I have seen '10 pips a day' around the internet a lot.
Treeny
Feb 24 2019 at 13:50
posts 213
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.........
kieran (snapdragon1970)
Feb 24 2019 at 21:24
posts 1948
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".
niceGLer
Feb 25 2019 at 04:42
posts 169
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.
niceGLer
Feb 25 2019 at 08:01
posts 169
Of course, my intention was to say that 30 pips stop loss is good for day trading in H1 time frame.
kieran (snapdragon1970)
Feb 25 2019 at 13:20
posts 1948
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".
vontogr (togr)
Feb 25 2019 at 13:35
posts 4862
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
LongVision
Feb 25 2019 at 13:49
posts 254
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 .
AharonGorion
Feb 25 2019 at 13:49
posts 7
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
jamesgwyther
Feb 26 2019 at 07:02
posts 289
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.
elikplim
Feb 26 2019 at 13:09
posts 4
They all trade in different time frames and each of them have set their limit in taking profits for a day.. so ask yourself how many pips do u think u can get daily...that should be yours..
kieran (snapdragon1970)
Feb 26 2019 at 22:28
posts 1948
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
Typically 3 times your stop loss ,longer time frames bigger gains.Eur/usd it's around 30-50 pips daily.
"They mistook leverage with genius".
kieran (snapdragon1970)
Feb 26 2019 at 22:44
posts 1948
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".
Rachel (REB_FX)
Feb 28 2019 at 06:54
posts 53
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.

rubbermanzz
Feb 28 2019 at 15:28
posts 7
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.
Mcross
Mar 03 2019 at 06:34
posts 10
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.
HumbertB
Mar 03 2019 at 06:40
posts 8
1000pip stop loss is crazy. You will surely loss big time one day. That is no trading strategy it is just gambling
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