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How many pips a day ?
Členom od Mar 10, 2018
12 príspevkov
Dec 16, 2018 at 09:47
Členom od Mar 10, 2018
12 príspevkov
10 pips a day everyday can make you very wealthy if you have a 10000 account and can trade 10 lots 10 pips a day is 1000 dollars 20000 a month thats all you need and when reach 20000 ore 30000 you can do 20-30 lots yes you can do the math the trick is too not have loosing days and make the 10 pips a day should also have 10 pips a day stoploss so when down 10 pips quit i am scaling for 1-3 pips a trade and make 20-30 pips a day but also have some loosing days not many but some and i stop at 20 pips loss i trade one standard lot and make usually 2-300 a day and loose 200 3-4 days a month so i have a nice little profit of 3-5000 a month
Stay real
Členom od Aug 05, 2017
289 príspevkov
Jan 18, 2019 at 11:19
Členom od Aug 05, 2017
289 príspevkov
I would work off percentages rather than pips and try to have your target over a month rather than a day.....or you may find yourself pushing to be in trades you don't need to be in.
Členom od Dec 28, 2013
171 príspevkov
Jan 18, 2019 at 12:32
Členom od Dec 28, 2013
171 príspevkov
As a rule of thumb my goal is to establish a trading system, whose monthly percentage gain is between 15% and 25%, daily ~1 %. Today I got 14 pips after 5 hr sitting in front of my laptop. I don't know if this is possible consistently, but we'll see. For each $50 I increase lot size by 0.01 lots. It seems that there are going to be days when the daily pips are in red but profits are in solid green.
I guess this will be providing an emotional roller coaster for me for a couple of coming years. I have a very small account. By the way I threw all the nonsense of trading longer time frames out of the window.
Generally, I try to risk only 2% on average.
I am using a stop loss of 20 pips as a backstop, and the average win is around 10 pips. My average win percentage over 400 trades is 60%.
Does this make any sense? If not, please clarify why.
I guess this will be providing an emotional roller coaster for me for a couple of coming years. I have a very small account. By the way I threw all the nonsense of trading longer time frames out of the window.
Generally, I try to risk only 2% on average.
I am using a stop loss of 20 pips as a backstop, and the average win is around 10 pips. My average win percentage over 400 trades is 60%.
Does this make any sense? If not, please clarify why.
Členom od Sep 12, 2015
1948 príspevkov
Jan 19, 2019 at 17:04
Členom od Sep 12, 2015
1948 príspevkov
Well that seems reasonable if only I knew what pair you were trading ,if your trading one certain pair maybe it would be of benefit to see what are the maximum times for trading it instead of sitting for 5 hrs ,its actually better to start with a small account because you'll be more careful with each trade ,however 2% is a bit on the high side ,if your using 20 pip stop you should have at least a 20 pip win or above.
"They mistook leverage with genius".
Členom od Aug 05, 2017
289 príspevkov
Jan 20, 2019 at 07:19
Členom od Aug 05, 2017
289 príspevkov
niceGLer posted:
As a rule of thumb my goal is to establish a trading system, whose monthly percentage gain is between 15% and 25%, daily ~1 %. Today I got 14 pips after 5 hr sitting in front of my laptop. I don't know if this is possible consistently, but we'll see. For each $50 I increase lot size by 0.01 lots. It seems that there are going to be days when the daily pips are in red but profits are in solid green.
I guess this will be providing an emotional roller coaster for me for a couple of coming years. I have a very small account. By the way I threw all the nonsense of trading longer time frames out of the window.
Generally, I try to risk only 2% on average.
I am using a stop loss of 20 pips as a backstop, and the average win is around 10 pips. My average win percentage over 400 trades is 60%.
Does this make any sense? If not, please clarify why.
2% risk is good.
I would say your risk to reward ratio needs to be looked at.
Členom od Jan 23, 2018
43 príspevkov
Jan 20, 2019 at 07:51
Členom od Jan 23, 2018
43 príspevkov
niceGLer posted:
As a rule of thumb my goal is to establish a trading system, whose monthly percentage gain is between 15% and 25%, daily ~1 %. Today I got 14 pips after 5 hr sitting in front of my laptop. I don't know if this is possible consistently, but we'll see. For each $50 I increase lot size by 0.01 lots. It seems that there are going to be days when the daily pips are in red but profits are in solid green.
I guess this will be providing an emotional roller coaster for me for a couple of coming years. I have a very small account. By the way I threw all the nonsense of trading longer time frames out of the window.
Generally, I try to risk only 2% on average.
I am using a stop loss of 20 pips as a backstop, and the average win is around 10 pips. My average win percentage over 400 trades is 60%.
Does this make any sense? If not, please clarify why.
I will explain to you mathematically. You will burn your account over time.
Example: 1000 trades in a swap free and commission free account.
60% winning is 600 trades x 10pips = 6000 pips.
40% losing is 400 trades x 20pips = 8000 pips
you lose 2000pips. with lot size of 0.01. you lose $200.00. Regardless of how much money you have in your account, you will still burn it. it's just a matter of time.
However, 60% win rate with 20pips. 40% lose rate with 10pips. compound that, you will be a successful trader. Good luck.
I try not to burn my account
Členom od Sep 12, 2015
1948 príspevkov
Jan 20, 2019 at 13:24
Členom od Sep 12, 2015
1948 príspevkov
SaltaLargo posted:
That is a fair point. Most pros look at percentage growth rather than pips. And daily targets are stupid. Some days the markets are flat and it is impossible to make any profit. Other days there is loads of nice movement and you can make 200 pips. It is better to check results over a month or longer
Some back testing and you'll see what's the best times for trading your pair ,set notification of levels.True pros do use % but it's mostly associated with older assets. On those flat days in pairs I jump across assets like stocks ,commodities , bonds etc.
"They mistook leverage with genius".
Členom od Aug 05, 2017
289 príspevkov
Jan 21, 2019 at 08:17
Členom od Aug 05, 2017
289 príspevkov
2:1 risk-reward ratio
50% win rate
You will be set for life
50% win rate
You will be set for life
Členom od Dec 12, 2018
10 príspevkov
Jan 21, 2019 at 14:49
Členom od Dec 12, 2018
10 príspevkov
jamesgwyther posted:
2:1 risk-reward ratio
50% win rate
You will be set for life
Easier said than done. But you make a very good point about how win rate and RR are closely linked and you cannot focus on one without ignoring the other.
Členom od Aug 05, 2016
22 príspevkov
Jan 22, 2019 at 07:34
Členom od Aug 05, 2016
22 príspevkov
set yourself a monthly target from 5% that way you will more then double your investment in a year
Členom od Aug 05, 2017
289 príspevkov
Jan 22, 2019 at 08:16
Členom od Aug 05, 2017
289 príspevkov
Pacifico posted:jamesgwyther posted:
2:1 risk-reward ratio
50% win rate
You will be set for life
Easier said than done. But you make a very good point about how win rate and RR are closely linked and you cannot focus on one without ignoring the other.
Easier said than done but this is my aim :)
Členom od Jan 18, 2019
9 príspevkov
Jan 22, 2019 at 11:48
Členom od Jan 18, 2019
9 príspevkov
How many pips do beginners aim for each day?
Členom od Aug 05, 2016
22 príspevkov
Jan 22, 2019 at 15:39
Členom od Aug 05, 2016
22 príspevkov
i recomend you to do a trading course first before trading
Členom od Dec 28, 2013
171 príspevkov
Jan 22, 2019 at 19:28
Členom od Dec 28, 2013
171 príspevkov
Today I got 5 pips, which equals to 1.3% of account size. Holding time maybe 4-5 hrs. I was lucky.
Členom od Aug 05, 2017
289 príspevkov
Jan 23, 2019 at 08:07
Členom od Aug 05, 2017
289 príspevkov
niceGLer posted:
Today I got 5 pips, which equals to 1.3% of account size. Holding time maybe 4-5 hrs. I was lucky.
If you can do this every day you will be set for life.
Členom od Aug 05, 2017
289 príspevkov
Jan 23, 2019 at 08:07
Členom od Aug 05, 2017
289 príspevkov
hollyholly141 posted:
How many pips do beginners aim for each day?
It is more about the percentage increase than pips.
Členom od Aug 05, 2016
22 príspevkov
Členom od Jan 18, 2019
9 príspevkov
Jan 23, 2019 at 11:58
Členom od Jan 18, 2019
9 príspevkov
Trademinster posted:Thankyou :)
i recomend you to do a trading course first before trading
Členom od Jan 18, 2019
9 príspevkov
Jan 23, 2019 at 11:58
Členom od Jan 18, 2019
9 príspevkov
Trademinster posted:Sounds like a good plan, thankyou :)
set yourself a monthly target from 5% that way you will more then double your investment in a year
Členom od Aug 05, 2016
22 príspevkov
Jan 23, 2019 at 15:54
Členom od Aug 05, 2016
22 príspevkov
there are hundreds of strategies you have to find one thats te best for you

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