How many pips a day ?

Molly141 posted:

togr posted:
IMHO planning how much pips or dollars you make per day is nonsense.
You should follow trading plan.
Trading plan defines when to enter and when to exit trade.
So some day you make some pips, some day you make even more and some day you lose some pips.
There is no FGH [holy grail] which would provide 100 pips every day.

Thank you for the advice. ALl still new to me this is.

And how is your trading doing?

togr posted:

Molly141 posted:

togr posted:
IMHO planning how much pips or dollars you make per day is nonsense.
You should follow trading plan.
Trading plan defines when to enter and when to exit trade.
So some day you make some pips, some day you make even more and some day you lose some pips.
There is no FGH [holy grail] which would provide 100 pips every day.

Thank you for the advice. ALl still new to me this is.

And how is your trading doing?

I am learning lots every day :)

Penrose2000 posted:
Daily is quite a short time frame to look at pips. I only look at monthly pips count. I am getting around 300 now but made a loss for long time

Hey Man, just control your speed. I dont know how its possible...whats your system. Can you please tell me about your system. 20-30pip is risk free I think.

Molly141 posted:
How many pip should I go for?

if you r new then just take 10pip per day and keep it consistent.

expkhaled posted:

Penrose2000 posted:
Daily is quite a short time frame to look at pips. I only look at monthly pips count. I am getting around 300 now but made a loss for long time

Hey Man, just control your speed. I dont know how its possible...whats your system. Can you please tell me about your system. 20-30pip is risk free I think.

300 pips per month is not difficult.

It is for me. You have very good profile. Do you every explain any of your strategy? I would do almost anything to have 300 pips a month

togr posted:

expkhaled posted:

Penrose2000 posted:
Daily is quite a short time frame to look at pips. I only look at monthly pips count. I am getting around 300 now but made a loss for long time

Hey Man, just control your speed. I dont know how its possible...whats your system. Can you please tell me about your system. 20-30pip is risk free I think.

300 pips per month is not difficult.

oh yea. i think its ok...I thought 300 per day....ok fine go ahead

40 per day

BipinBike posted:
It is for me. You have very good profile. Do you every explain any of your strategy? I would do almost anything to have 300 pips a month

It is really not that difficult

It's not terribly hard for 300 pips a month, get a good grasp of technicals and general awareness of fundamentals, in the last three days i've gained about 230 pips. The things you need to be aware of are placing your stops in safe spots, not rushing into trades, and trusting your analysis but being aware of market risk sentiment.

5 pips a day will set you free.....

Treeny posted:
5 pips a day will set you free.....

Not exactly. You would need big trades to make some useable profit. When you place big trades you need big capital to stay safe. When you have big capital you will are careful and need better plan than just 5 pips a day.

in a day

Treeny posted:
5 pips a day will set you free.....

 Agreed. Simple minded trades say that you need a BIG ACCOUNT, but no matter the size of the account, risk management SHOuLD always remain the same. If you believe that risking more than 2% of your total account is not something you should never do, then yo create your system around it.

EUforexHack posted:

Treeny posted:
5 pips a day will set you free.....

 Agreed. Simple minded trades say that you need a BIG ACCOUNT, but no matter the size of the account, risk management SHOuLD always remain the same. If you believe that risking more than 2% of your total account is not something you should never do, then yo create your system around it.

I'm not mathematician, but somehow I believe that win rate and the ability to risk more than 2% successfully is somehow interrelated. Nowadays I rarely have a losing streak, I'n my opinion, I should be able to risk more than 2%, perhaps 5% or even more. Any opinions on this? Intuitively, if a trading style has a string of losses, then one single trade should have a tighter limit for loss %.

Risk profile and money management should be implemented according to the trading strategy. If strategy changes, then money & risk management should be modified, too.

niceGLer posted:

EUforexHack posted:

Treeny posted:
5 pips a day will set you free.....

 Agreed. Simple minded trades say that you need a BIG ACCOUNT, but no matter the size of the account, risk management SHOuLD always remain the same. If you believe that risking more than 2% of your total account is not something you should never do, then yo create your system around it.

I'm not mathematician, but somehow I believe that win rate and the ability to risk more than 2% successfully is somehow interrelated. Nowadays I rarely have a losing streak, I'n my opinion, I should be able to risk more than 2%, perhaps 5% or even more. Any opinions on this? Intuitively, if a trading style has a string of losses, then one single trade should have a tighter limit for loss %.

Risk profile and money management should be implemented according to the trading strategy. If strategy changes, then money & risk management should be modified, too.

 Exactly. Now, one states that he or she doesnt have many straight losses, but it could be based on randomness or an edge. If it is an edge, then one shold be using martingale money management to offset the last loss or losses in order to make a small profit over the sequence of trades.

EUforexHack posted:

niceGLer posted:

EUforexHack posted:

Treeny posted:
5 pips a day will set you free.....

 Agreed. Simple minded trades say that you need a BIG ACCOUNT, but no matter the size of the account, risk management SHOuLD always remain the same. If you believe that risking more than 2% of your total account is not something you should never do, then yo create your system around it.

I'm not mathematician, but somehow I believe that win rate and the ability to risk more than 2% successfully is somehow interrelated. Nowadays I rarely have a losing streak, I'n my opinion, I should be able to risk more than 2%, perhaps 5% or even more. Any opinions on this? Intuitively, if a trading style has a string of losses, then one single trade should have a tighter limit for loss %.

Risk profile and money management should be implemented according to the trading strategy. If strategy changes, then money & risk management should be modified, too.

 Exactly. Now, one states that he or she doesnt have many straight losses, but it could be based on randomness or an edge. If it is an edge, then one shold be using martingale money management to offset the last loss or losses in order to make a small profit over the sequence of trades.

I don't know about martingale, but I would increase betting while winning and scale down when losing :) Isn't it a bit contrary to martingale?

niceGLer posted:

EUforexHack posted:

niceGLer posted:

EUforexHack posted:

Treeny posted:
5 pips a day will set you free.....

 Agreed. Simple minded trades say that you need a BIG ACCOUNT, but no matter the size of the account, risk management SHOuLD always remain the same. If you believe that risking more than 2% of your total account is not something you should never do, then yo create your system around it.

I'm not mathematician, but somehow I believe that win rate and the ability to risk more than 2% successfully is somehow interrelated. Nowadays I rarely have a losing streak, I'n my opinion, I should be able to risk more than 2%, perhaps 5% or even more. Any opinions on this? Intuitively, if a trading style has a string of losses, then one single trade should have a tighter limit for loss %.

Risk profile and money management should be implemented according to the trading strategy. If strategy changes, then money & risk management should be modified, too.

 Exactly. Now, one states that he or she doesnt have many straight losses, but it could be based on randomness or an edge. If it is an edge, then one shold be using martingale money management to offset the last loss or losses in order to make a small profit over the sequence of trades.

I don't know about martingale, but I would increase betting while winning and scale down when losing :) Isn't it a bit contrary to martingale?

 Martingale results in you increasing lot size after a loss. This allows one to recover quicker from the previous loss or losses. The issue is, simply thinking that you can't lose forever isnt a valid trading system. Which is why oe finds a system, and some sort of edge where the number of consecutive losses are greatly diminished after every loss. That is when you scale in your money management.

EUforexHack posted:

Treeny posted:
5 pips a day will set you free.....

 Agreed. Simple minded trades say that you need a BIG ACCOUNT, but no matter the size of the account, risk management SHOuLD always remain the same. If you believe that risking more than 2% of your total account is not something you should never do, then yo create your system around it.

5 pips a day is not risk management
5 pips a day is relatively small profit
To make living with 5 pips a day you need big trades.
I hope I wrote it so simply even you can understand it :)