Nail small amount everyday? | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Default How to close trade in Metatrader after amount of time or amount of bars 5 replies

TP dollars amount and SL dollars amount columns (MT4) 0 replies

MT4 How to set TP to close a certain amount instead of entire amount? 3 replies

The Nail in the market's Coffin - Grid Trading? 10 replies

Taking a trade everyday 28 replies

Attachments: Nail small amount everyday?
Exit Attachments

Nail small amount everyday?

  • #1
  • First Post: Sep 1, 2017 10:25am Sep 1, 2017 10:25am
Hi guys,

My 1st thread although have join in for some time.
I know trading is more about inner self control and discipline
but wish to know if its possible to nail say 4 pips per day(6 pips include broker side)
and trade say about 1000 balance and with 0.5lot with gradually increase 0.01lot everyday.

Although if any drawdown that will be huge hence wish to get opinion from you guys
if this is consider a low risk plan.
Fundamental provide Volume, Technical shows Direction
  • #2
  • Sep 1, 2017 11:27am Sep 1, 2017 11:27am
Trading 0.5 lot on a $1000 balance will be taking a huge risk. Personally, with that balance, I would be trading 0.05 lots or probably 0.1 lot max on each trade. With a stop loss of, say 25-50 pips, you would be risking about 2.5% of your balance on a single trade.

And why go for 4 pips per day? If you have a workable strategy, you could go for higher targets.
  • #3
  • Sep 1, 2017 11:29am Sep 1, 2017 11:29am
Quoting LucasT
Hi guys, My 1st thread although have join in for some time. I know trading is more about inner self control and discipline but wish to know if its possible to nail say 4 pips per day(6 pips include broker side) and trade say about 1000 balance and with 0.5lot with gradually increase 0.01lot everyday. Although if any drawdown that will be huge hence wish to get opinion from you guys if this is consider a low risk plan.
it is possible to take some small amount of money from the market most days, scalping a few pips here and there.
but
it is the wrong approach of it to try to quantify it, in pips or dollar, how much you need daily...just doesnt work out that way.
for that sort of 'security and knowing' you would need to have a job. the 9-5 kind. that gives you the predictable!

for example, here is myfxbook, with a profit curve. (live account; removed personal data, not to confuse you)
about 6 month, or 100 trading days...marked the 3 that lost money.
some day really little gains, some day very decent one, all with a generally safe way = low drawdown.

would it work with 1000$ and 0.5 lot? probably NOT!
i use far far less risk, that gives me miles more flexibility, as well as the return target is a lot less.
4 pips with 0.5lot on 1k account....effectively 2% daily return!
in theory it is possible, just the same as you can jump from the 10th floor and survive!!
some do. would you be the lucky one? ready to try?

pls note, it is only to show you it is possible!!
Attached Image (click to enlarge)
Click to Enlarge Name: myfx profit curve.png Size: 63 KB
there is always, always another trade!!
  • #4
  • Sep 1, 2017 11:43am Sep 1, 2017 11:43am
Quoting Darastonius
{quote} The market does not have speculative opportunities every single day. On those days the best decision is to stay out.
Whether or not there are trading opportunities every day depends upon one's strategy and the timeframe one is working with. Currently, most active currency pairs move about 100 pips every day on an average. For someone going for 10-20 pips a day there are opportunities galore if he or she has found a real edge.
  • #5
  • Sep 1, 2017 11:44am Sep 1, 2017 11:44am
I have started to trade 5 years back since then i have made 400,000 euros
i always started with 10,000 eur's and when it reach upto 60,000 or 70,000 i withdraw back all..
i have my own techniques to trades and i would definitely share here soon.
for now i am gonna a screenshot of today ongoing trades.

take care

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot (61).png Size: 60 KB
  • #6
  • Sep 1, 2017 12:58pm Sep 1, 2017 12:58pm
Quoting LucasT
I know trading is more about inner self control and discipline
Trading is not about that, I suggest you to read larry harris book "trading & exchanges" so you can understand who, how and why people trade.
  • #7
  • Sep 1, 2017 1:52pm Sep 1, 2017 1:52pm
One of the main reason I wish to hit less pips is to have less time checking the market and trim down probability to overtrade and
oversize which are the main reason of failure.
Fundamental provide Volume, Technical shows Direction
  • #8
  • Sep 1, 2017 3:44pm Sep 1, 2017 3:44pm
Quoting Darastonius
Adnanpervaiz, 400k euros without stop loss? Damn, you're truly awesome. {quote} Surely there won't be any down days, or any situations, where it looks like there is a setup, which then fizzles out and goes nowhere. The problem is, he wants to be +4 pips at the end of every day. It doesnt matter how much a currency pair move, being +4 EVERY SINGLE DAY is not possible. Yeah, on average you can, like +20 one day, -8 the next, etc, so overall it gives +4 pips per day on a long term. My expectancy at the moment is +9.7 pips on average, so that's doable....

You dont need SL if you are confident enough for your Entry setups and if you aren't trading against your broker.
Thanks for appreciation ... my target is to reach 1 million euros in next 3 years.
  • #9
  • Sep 1, 2017 4:15pm Sep 1, 2017 4:15pm
What you're asking for is certainly possible. You just need the appropriate edge and discipline. The interesting thing about your target goal is the discipline aspect of it. If you waited for your edge setup (however long that takes on a particular day), acted upon it, traded upon it... would you call it a day? Would you continue trading?

The safer, option would be the former. You hit a subjective (but worthy) target goal for the day. It's an exercise of consistency and control. Good job.

The latter option is quite tricky. You've decided to push your edge. The edge may be true. It may work. The danger in this option is having the discipline to appropriately trade your edge. A pitfall is the hope of more. "Why just hit today's target? I can double it, triple it, etc." Certainly possible. However, patience and restraint can falter, resulting in carelessness and greed. Suddenly, edge setups are appearing everywhere. The heart steps forward, and the mind steps back to give way. This is how over-trading can occur.
An eternal student.
  • #10
  • Sep 1, 2017 4:19pm Sep 1, 2017 4:19pm
Quoting adnanpervaiz
{quote} my target is to reach 1 million euros in next 3 years.
Good luck on your goal man. You seem to be on your way. Is that cyclic analysis I'm seeing on your chart?
An eternal student.
  • #11
  • Sep 1, 2017 4:38pm Sep 1, 2017 4:38pm
Quoting gestuntsey
{quote} Good luck on your goal man. You seem to be on your way. Is that cyclic analysis I'm seeing on your chart?
thanks for the best wishes
its actually combination of a couple of SMA's and EMA's support resistance and Entry is on Fibonacci...
nothing more then that at all ...
  • #12
  • Sep 1, 2017 7:18pm Sep 1, 2017 7:18pm
Quoting GnWFx
Trading 0.5 lot on a $1000 balance will be taking a huge risk. Personally, with that balance, I would be trading 0.05 lots or probably 0.1 lot max on each trade. With a stop loss of, say 25-50 pips, you would be risking about 2.5% of your balance on a single trade. And why go for 4 pips per day? If you have a workable strategy, you could go for higher targets.
the only reason to use small lots is if you dont know how to trade and are scared of losing. standard money management is a crutch for the weak

SG
the more you know the less you need.
  • #13
  • Sep 1, 2017 8:24pm Sep 1, 2017 8:24pm
Quoting adnanpervaiz
I have started to trade 5 years back since then i have made 400,000 euros i always started with 10,000 eur's and when it reach upto 60,000 or 70,000 i withdraw back all.. i have my own techniques to trades and i would definitely share here soon. for now i am gonna a screenshot of today ongoing trades. take care {image}
Hi,

Tell me more about your trade system !

Look very profitable !
  • #14
  • Sep 1, 2017 9:04pm Sep 1, 2017 9:04pm
Quoting LuizSchiavi
{quote} Hi, Tell me more about your trade system ! Look very profitable !

hi

If you couldn't guess a strategy by looking at a chart then how can i explain it to you ...
  • #15
  • Edited Sep 2, 2017 1:11am Sep 1, 2017 9:52pm | Edited Sep 2, 2017 1:11am
Quoting LucasT
Hi guys, My 1st thread although have join in for some time. I know trading is more about inner self control and discipline but wish to know if its possible to nail say 4 pips per day(6 pips include broker side) and trade say about 1000 balance and with 0.5lot with gradually increase 0.01lot everyday.
Trading is not making X pips per day.
It is not even about making money overall.
It is not just about inner self control and discipline.

ALL of these come as the result of mastering a process.

Quote
wish to get opinion from you guys if this is consider a low risk plan.
As Warren Buffett says (and I believe this applies to trading as much as it does to investing) "Risk comes from not knowing what you're doing".
  • #16
  • Sep 1, 2017 10:07pm Sep 1, 2017 10:07pm
Quoting adnanpervaiz
I have made 400,000 euros i always started with 10,000 eur's and when it reach up to 60,000 or 70,000 i withdraw back all.. i have my own techniques to trades and i would definitely share here soon. for now i am gonna a screenshot of today ongoing trades. {image}
This is why I "love" FF

People come and throw random claims without backing them up with a verifiable live track record.

Any other way are just empty affirmations...

Pfff, I don't care anyway.
  • #17
  • Sep 1, 2017 11:09pm Sep 1, 2017 11:09pm
Quoting adnanpervaiz
I have started to trade 5 years back since then i have made 400,000 euros i always started with 10,000 eur's and when it reach upto 60,000 or 70,000 i withdraw back all.. i have my own techniques to trades and i would definitely share here soon. for now i am gonna a screenshot of today ongoing trades. take care {image}
Analysis...
Anywhere close?
Attached Image (click to enlarge)
Click to Enlarge Name: Analysis.jpg Size: 174 KB
  • #18
  • Sep 2, 2017 12:17am Sep 2, 2017 12:17am
Well how many times does a market move by 4 pips a day? I can say a lot and there's always 4 pips anytime of the day available 24/5. Just look at the daily candlestick on your chart and measure it from top to bottom. For sure somewhere in between that daily candlestick there is 4 pips. Now that answers your question. It is possible to hit 4 pips a day. Now the most important thing you need here is a strategy that can give you the highest probability setup which in turn can give you your 4 pips for the day and- your stop loss. Find and master a strategy you're going to use to make that 4 pips a day. Give yourself 3-6 months demo trading this kind of trading technique. Once you have mastered making 4 pips a day, once you have doubled or even tripled your demo account after 3-6 months then maybe you can go live. With $1000 you have a somewhat good capital to start with but like I said you need to know your stop loss. When do you get out with a loss and call it a day? When are you going to realize that you can't take your 4 pips anymore for the day and that you just need to comeback tomorrow? Would you even have the discipline to do all these and follow the rules?

Once you have mastered all this, making 4 pips a day, being very disciplined enough to follow the rules then you're on your way. Now about the 0.5 lots per trade if you ask me you can trade with that, provided you have mastered the art of making 4 pips a day because once you have mastered it then you know what you're doing because well you have mastered it. One of the best things I learned from someone here in FF is that you can learn and master making small pips a day. Once you get good at it, you have mastered it then you can start increasing you lot sizes.

Personally I like this type of trading technique. Get in, get out- quickly. You only need one trade per day. You only need to find the highest probability setup. Most of all you only need small pips as well. 10-20 pips will do. Trading 1 lot with 10 pips gives you $100. Trading with 20 pips gives you $200. If you have mastered making 10 - 20 pips a day you can even trade with 5 lots. Heck you can even achieve 100% win rate with this type of trading once you have mastered it.

Anyway that's just my two cents so don't come bashing at me like you're the best and the most successful trader in the world. Let alone here in FF.
Patience and Discipline, these are the Holy Grail.
  • #19
  • Sep 2, 2017 4:40am Sep 2, 2017 4:40am
Quoting marcnathan88
Well how many times does a market move by 4 pips a day? I can say a lot and there's always 4 pips anytime of the day available 24/5. Just look at the daily candlestick on your chart and measure it from top to bottom. For sure somewhere in between that daily candlestick there is 4 pips. Now that answers your question. It is possible to hit 4 pips a day. Now the most important thing you need here is a strategy that can give you the highest probability setup which in turn can give you your 4 pips for the day and- your stop loss. Find and master a strategy...

True. This type of trading is with better discipline and obvious target to hit instead of having the whole tempting market
with endless trading possibility where even winning trade may become losing trade in fraction of minute.
Fundamental provide Volume, Technical shows Direction
  • #20
  • Sep 2, 2017 5:09am Sep 2, 2017 5:09am
guys do you think a lot size of 0.15 per £500 is big?
0 traders viewing now