does anyone out there have a "goal" of 10 pips per trade?...if you do the math...say for EUR/USD...a 10 pip profit and trading 10 lots(large lots and not mini), that is $1,000.00 profit...not bad and very good...anyone approach FX trading this way?
10 pips
- Thread starter increasenow
- Start date
Here is what I recommend, measure off your risk in pips for the trade + spread. This is almost always different for each trade because the markets are not linear and with so many variables effecting the trade you need to set your stop size accordingly.
Anyway, after you have done this I suggest going for 2-2.5 times your stop for your profit target if you use an 'all in, all out approach." Don't worry about winning percentage.
I think this is much more practical.
You need to calculate risk before you count reward
I'll let you work this out for yourself....
What are you risking to make that 10 pips?
What is your win:lose ratio?
Now do the math. Did it make money over a reasonably large sample of trades?
Trade size isn't going to make any difference to risk:reward or win:lose, 1 lot or 1,000 lots, if it works it's easily scalable, if it doesn't then adjusting trade size ain't gonna change anything but how long it takes you to go broke
Come on increasenow, 2 years and 3000 posts and you're asking questions like this!
Quote from Z.O.G.:
I guess increasenow's name should be increaselater.
Lol.......probably like increase never. I laughed when i read this post since this guy is so far off from being being a profitable trader its not even funny. I would say in two years he breaks even if he can handle all the account blow-ups.
Anyone who asks that question has no idea what they doing and anyone who says that they can do that everyday is usually a scammer from my experience!
What I can't understand is why people ask a question like this and then never follow up. If they learned from the replies then they should say thanks. If they didn't learn anything then they should ask more questions until they understand what's being said. If they don't agree with the replies then they should argue their case.
To ask a question just for the sake of it seems a bit pointless somehow....
To ask a question just for the sake of it seems a bit pointless somehow....
On the interweb it's called "being a troll"
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Ha! yes probably too embarrassed to continue with the conversation.
Ah there's nothing to be embarrassed about, we've all been there, you should see some of my trading journals.....they're really embarrassing! :eek:
thanks man...best to you and I am not a web troll...but asking real and valid questions...