10 Pips Per Day - Everyday

Quote from watchdaride:

I find a weekly goal is better than daily. 50 pips a week might be a better goal .
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LOL

You don't trade Forex if you think you can pull in 50 pips a week.
 
How much is 1 pip for those of us who have never traded Forex? :confused:

Just so the readers can put the thread title in context of what is available elsewhere.

Thanks for your answer.

I
 
Quote from forex-forex:

LOL

You don't trade Forex if you think you can pull in 50 pips a week.
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What are you saying 50 pips a week is hard ? If you find that hard to make you should find another career.
 
Quote from Icarus5:

How much is 1 pip for those of us who have never traded Forex? :confused:
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With a $5000.00 FX mini account at 200:1 leverage 1 pip = $10.00 with a huge 450 pip stop. No way can a $5000 account bring in $500 a week.
 
Quote from Icarus5:

How much is 1 pip for those of us who have never traded Forex? :confused:

Just so the readers can put the thread title in context of what is available elsewhere.

Thanks for your answer.

I
More...
I looked it up.

Apparently the answer is variable ... Pip Value

... but we'll go with 1 pip = $10 for the sake the thread exercise, until someone more knowledegable and with experience says different.

So that's about, what, $100 a day? :confused:

I'd say that should be doable with any leveraged instrument.

I
 
Quote from forex-forex:

With a $5000.00 FX mini account at 200:1 leverage 1 pip = $10.00 with a huge 450 pip stop. No way can a $5000 account bring in $500 a week.
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OK

I respect your experience (obviously, with the name, you trade forex).

Why do you need a huge 450 pip stop? ... most traders of futures (E-Mini's 2pts=$100) would not use a 20pt stop to trade them seeking a $100 profit.

I
 
Quote from Icarus5:

OK

I respect your experience (obviously, with the name, you trade forex).

Why do you need a huge 450 pip stop?

I
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You don't need such a huge stop, but anything less than 50 will get picked off quite a bit and slowly drain your account.
 
Quote from forex-forex:

You don't need such a huge stop, but anything less than 50 will get picked off quite a bit and slowly drain your account.
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Good enough.

I've never traded forex, but I've been around enough traders on this website and at trading conventions to believe what you're saying.

One guy even used a much much longer time frame to trade them (like monthly) and pretty much laughed at anyone who thought they could trade them differently.

That "10 Pips per Day - Everyday" come-on appears to be a bit of a hustle, as they say.

Thanks for the info.

I
 
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