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How many pips a day ?

EUforexHack
Feb 18 2019 at 15:32
28 poster
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
34 poster
interesting thread :) im fairly new to trading so will be reading through all these comments!

jamesgwyther
Feb 24 2019 at 08:18
289 poster
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
25 poster
I have seen '10 pips a day' around the internet a lot.

Treeny
Feb 24 2019 at 13:50
135 poster
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.........

snapdragon1970 (snapdragon1970)
Feb 24 2019 at 21:24
1944 poster
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
165 poster
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
165 poster
Of course, my intention was to say that 30 pips stop loss is good for day trading in H1 time frame.

snapdragon1970 (snapdragon1970)
Feb 25 2019 at 13:20
1944 poster
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".
togr (togr)
Feb 25 2019 at 13:35
4862 poster
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

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