Do you know of a 10$ per day strategy? | Forex Factory

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Do you know of a 10$ per day strategy?

  • #1
  • First Post: Oct 24, 2017 11:09am Oct 24, 2017 11:09am
Hello friends,
Do you know a stragey in which we can gain at least 10$ per day - and risking minimum losts ?

Thanks
  • #2
  • Oct 24, 2017 6:56pm Oct 24, 2017 6:56pm
Any strategy could accomplish that. However, what's more important isn't the strategy itself. Your alignment to the strategy is what's important.

"Mr. I-get-100-pips-a-day" could freely give you his strategy on how he trades. But it doesn't mean anything if you can't trade it the same way he does. It's easy to get lost in hearing everyone's online successes, and their stories on how they 'made it.' No matter how good the story is, or the amount of money they claim to make, it's of no way of consequence to you or your trading.

Good luck in your search.
An eternal student.
  • #3
  • Oct 24, 2017 7:57pm Oct 24, 2017 7:57pm
Quoting paulselvan
Hello friends, Do you know a stragey in which we can gain at least 10$ per day - and risking minimum losts ? Thanks
you don't succeed in this business by copying someone.
you find your own method.
and 10$ a day is irrelevant.
you might not make anything for today but you might make 50$ tomorrow = 5 signals
you seem like you're a noob.
take your time.
and learn your craft.
it'll take a looooong looooong time before you even want to consider making money.
...
  • #4
  • Oct 25, 2017 4:43am Oct 25, 2017 4:43am
Quoting paulselvan
Hello friends, Do you know a stragey in which we can gain at least 10$ per day - and risking minimum losts ? Thanks
its not about bucks,its about how much pips u r making per day,u can always increase your lot size ,if u r comfortable with your strategy,learn and learn,trading is all about learning and craftin your own strategy,dont copy any ones else's strategy.
  • #5
  • Oct 25, 2017 4:49am Oct 25, 2017 4:49am
Quoting T4Trade
{quote} its not about bucks,its about how much pips u r making per day,u can always increase your lot size ,if u r comfortable with your strategy,learn and learn,trading is all about learning and craftin your own strategy,dont copy any ones else's strategy.
silly way of thinking

IT IS ABOUT THE BUCKS!!
you dont go out and start to shop with your pips. irrelevant in the end of the trading day.
each "pips" has a different value, you can scale into a trade with variable lot, martingale, whatever.

when the day ends, and your broker sends you the daily P/L summary, they never mention a "pip". why?
because IT IS ABOUT THE BUCKS!!

ps: when you make money you can also increase your trading size.
pps: green pips count is a nice bonus to trading, but by no means a prerequisite to make profit from trading.
there is always, always another trade!!
  • #6
  • Oct 25, 2017 4:49am Oct 25, 2017 4:49am
Well, I have more than 5 years trading experience but I don’t have such a day trading target! I open my new trade position in order to the market situation; when I get entry point then I open my trade otherwise not!
  • #7
  • Oct 25, 2017 5:11am Oct 25, 2017 5:11am
Quoting profitfarmer
{quote} silly way of thinking IT IS ABOUT THE BUCKS!! you dont go out and start to shop with your pips. irrelevant in the end of the trading day. each "pips" has a different value, you can scale into a trade with variable lot, martingale, whatever. when the day ends, and your broker sends you the daily P/L summary, they never mention a "pip". why? because IT IS ABOUT THE BUCKS!! ps: when you make money you can also increase your trading size. pps: green pips count is a nice bonus to trading, but by no means a prerequisite to make profit...
I know what you are saying is also correct,there is no one single correct answer but see the question and mind set of a person who is asking the question,he is a newbie who wants to make 10dollars a day,so I was giving him simple answer,the one you are talking is a larger perspective. have tolerance and good gesture in your way of responding,you are a FFx user for long time,i was not expecting you talking in such harsh manner.
  • #8
  • Oct 25, 2017 5:55am Oct 25, 2017 5:55am
Quoting paulselvan
Hello friends, Do you know a stragey in which we can gain at least 10$ per day - and risking minimum losts ? Thanks
FWIW.....
Quoting TheRealThing
Can this forum handle some truth? Note: this is not a negative post. I've been trading for a living for many years. .......

"Making a living" is very much a similar question as of what "is" is. All of the professional traders I know, whether they trade forex or futures markets, do not make "so much per day". That is a phrase used by marketers, because they know what beginners are looking for, and that is a steady income so they can get rid of their jobs. Money from the market that you can count on does not come steady or nicely "so much per day"......
  • #9
  • Oct 25, 2017 6:09am Oct 25, 2017 6:09am
From the question you're asking you're either new to trading or you have been doing things wrong for a long time.
Why limit yourself to 10$ a day?

Lets say you have a strategy that is profitable.
You would want to exploit that strategy every time you get the opportunity.
Forex also isn't very stable so 10$, 100$ or 1000$ a day is not going to happen every day.
Some days you may make 10$ others 150$ and maybe even -50$.

There are ways to make it more stable like having strategies that work well in different market conditions for example: A strategy for consolidation and one for trending markets. If you have that your trend trading strategy will lose in consolidation and your consolidation will win which means your maximum drawdown is going to be less. If your maximum drawdown is less you can trade a bigger lot size while still staying in your maximum allowable drawdown.

I do agree with Profitfarmer that in the end of the day it's about money. However when you first start out it should not be the priority. Your priority should be to learn and to get into good habits and do everything right so you don't end up losing the money.
Which means that the process should come first and if you do the process well then the money will come over time.
It's as simple as that.

If you set a money goal for yourself you will end up trying to reach that and trying to force it and because you're trying to force things you'll end up taking bad trades or risking too much or something that will end up hurting you. Be it in the short or the long run.


So what have we learned?
-Don't limit yourself
-Don't set goals like "x amount a day"
-Focus on the process and doing the process well and the money will come
-Don't force things
-The Forex market is not a stable income
-There are ways to make it more stable like having strategies that work in different market conditions but there is only so much we can do. It will be be 100% stable.


Now as for getting a strategy I highly suggest you pick one thing you like and working to master that setup.
For example I like Bollinger bands so I have a strategy that uses Bollinger bands in combination with engulfing candles.
I also have a strategy that combines Bollinger bands with the Rsi.

I hope that helped a little bit.
-AntiVi
  • #10
  • Oct 25, 2017 6:38am Oct 25, 2017 6:38am
Quoting T4Trade
{quote} I know what you are saying is also correct,there is no one single correct answer but see the question and mind set of a person who is asking the question,he is a newbie who wants to make 10dollars a day,so I was giving him simple answer,the one you are talking is a larger perspective. have tolerance and good gesture in your way of responding,you are a FFx user for long time,i was not expecting you talking in such harsh manner.
there is no harshness intended, but there is some very flowed thinking around the forum when it comes to these sort of issues and answers.
i think it is important to have the basics in place, the right place.
trading is for money.
if someone not trading for money, best to stick for a demo for the fun staff.

that said, i am not here to hurt your or anyone's feelings.
there is always, always another trade!!
  • #11
  • Oct 25, 2017 6:53am Oct 25, 2017 6:53am
Quoting profitfarmer
{quote} silly way of thinking IT IS ABOUT THE BUCKS!! you dont go out and start to shop with your pips. irrelevant in the end of the trading day. each "pips" has a different value, you can scale into a trade with variable lot, martingale, whatever. when the day ends, and your broker sends you the daily P/L summary, they never mention a "pip". why? because IT IS ABOUT THE BUCKS!! ps: when you make money you can also increase your trading size. pps: green pips count is a nice bonus to trading, but by no means a prerequisite to make profit...

correct,its all about the money ££££££££££ $$$$$$$$$
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #12
  • Oct 25, 2017 6:55am Oct 25, 2017 6:55am
[quote=AntiVi;10424497]From the question you're asking you're either new to trading or you have been doing things wrong for a long time. Why limit yourself to 10$ a day? Lets say you have a strategy that is profitable. You would want to exploit that strategy every time you get the opportunity. Forex also isn't very stable so 10$, 100$ or 1000$ a day is not going to happen every day. Some days you may make 10$ others 150$ and maybe even -50$. There are ways to

Maybe if he said he wants to make 10,(without£ $) it would make sense, he needs the bank behind him too.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #13
  • Oct 25, 2017 7:17am Oct 25, 2017 7:17am
Quoting billytt
There are ways to Maybe if he said he wants to make 10,(without£ $) it would make sense, he needs the bank behind him too.
See the problem was not the $ the problem is that he wants 10$ every day.
If he just said "I want to make 10.000$." then I would be ok with that since there is no time limit on it that would make him mess up and try to force things.
  • #14
  • Oct 25, 2017 9:17am Oct 25, 2017 9:17am
Thanks for your replies.That makes sense.

Maybe only brokers- with their systems of commissions- can boast of such an accomplishment.
  • #15
  • Oct 25, 2017 10:54am Oct 25, 2017 10:54am
Quoting paulselvan
Thanks for your replies.That makes sense. Maybe only brokers- with their systems of commissions- can boast of such an accomplishment.
profits are possible.
just dont think a job like salary, like X$/day.
it isnt balck and white.
read around, and discover the shades of grays.
there is always, always another trade!!
  • #16
  • Oct 25, 2017 11:06am Oct 25, 2017 11:06am
you should have to trade to get 10$ for this you can use this simple strategy and always think that you can make profit easily if you will take decisions without emotions .


1. Use time frame 30min just naked chart
2.wait for price rejection candle with long tail
3.if next candle full and confirm reversal just go with it .

just take help with channel, support and resistance to place stop loss and take profit.
you can trade this strategy on all pairs but to make it simple use8 pairs.

Dnt take help of anything else when you will loose first trade it will teach you what mistake you have done dnt repeat it next time.



Thanks
  • #17
  • Oct 25, 2017 11:16am Oct 25, 2017 11:16am
Check this simple strategy which is giving good profit
Attached Image (click to enlarge)
Click to Enlarge Name: simple strategy.png Size: 54 KB
  • #18
  • Oct 25, 2017 12:12pm Oct 25, 2017 12:12pm
here it is
Attached Image (click to enlarge)
Click to Enlarge Name: 10$ in 30 min.PNG Size: 64 KB
  • #19
  • Apr 13, 2019 12:19pm Apr 13, 2019 12:19pm
That reminds me internet marketing forums discussion where people also want to make $10 daily with minimum risks. Well the ways were to write few articles for example or do some really simple website fix of someone else. So I would take advice from that last poster with his simple signals.
  • #20
  • Apr 14, 2019 4:39am Apr 14, 2019 4:39am
So if you earn less you have to quit trading? How long should the educational period last?
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