7 pips per day? is it possible? | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How many pips is reasonable per day for a day trader 33 replies

20 pips per day, is there anyone can help me? 98 replies

Percentage vs. Pips per Trade vs. Pips per Day/Hour! 7 replies

i need 5-10 PIPS ONLY per DAY! 39 replies

Earning 150 pips per month consistently - is it possible? 21 replies

Attachments: 7 pips per day? is it possible?
Exit Attachments

7 pips per day? is it possible?

  • #41
  • May 18, 2014 7:27am May 18, 2014 7:27am
You can make 7 pips per day but consider the spread you are paying to get in and out of those trades. Maybe 2 pips to get in and 2 to get out? Its more like trying to make 11 pips a day. Also, most algos are taking the fat out of the short term market. You need a good broker with tight spreads and a backtested system to compete longer term in this space.
  • #42
  • Nov 7, 2017 5:17am Nov 7, 2017 5:17am
Quoting eurusdthb
I find it's very interesting if trade EURUSD or USDJPY with stop loss and trail profit. Is it possible? if possible... please anyone suggest me some system Excel file below... {file}
7 pips is anything but difficult to accomplish in a day yet not reliably everyday.Whoever said its simple to make 7 pips ordinary reliably they don't have the foggiest idea about the stats.If you can make 7 pips regular reliably you can chance more per exchange. Obviously you can normal more than 7 pips on an exchange for sure.which parcel of traders are doing.But cannot ensure that you will make 7 pips everyday.since you are beginning with 100 dollars you will go out on a limb yet not when that cash increments to 10k.You are gambling 2k dollars for each exchange which is the hardest part to deal with.
  • #43
  • Nov 7, 2017 5:40am Nov 7, 2017 5:40am
How many pips you can earn in a day its completely depend on your trading strategies and money managing approach. And also rest on which trading balance you have.
  • #44
  • Nov 7, 2017 8:17pm Nov 7, 2017 8:17pm
Anybody can share EA that can make 7-10pips daily?
  • #45
  • Nov 8, 2017 8:27am Nov 8, 2017 8:27am
All the more essentially what is your run of the mill exchange measuring? On the off chance that you are trading a smaller scale or little $100 or $1,000 account then in all likelihood 7 pips is nothing Dollar astute. Be that as it may on the off chance that you are trading a substantial record and trading along the lines of 10-20 standard parcels/exchange then 7 pips is significant from a Dollar point of view. You are accepting that you will make around 28% returns for each month. That is quite recently insane. Not the arrival every month but rather the possibility that you will make those profits each month for 60 straight months.
  • #46
  • Nov 8, 2017 10:04am Nov 8, 2017 10:04am
It is quite possible, I think. It is even probable, which is the more important part. Still, every trader should be prepared for losses, even if one is aiming for just 7 pips per day. Sometimes trades just don't go your way. The hard part is to make sure that loss doesn't wipe out your profits to begin with.
  • #47
  • Nov 9, 2017 3:48am Nov 9, 2017 3:48am
I would not chace any daily targets myself, cause this could lead to overtading and entering the market in the wrong time in order to compensate for possible losses.
  • #48
  • Nov 12, 2017 8:20am Nov 12, 2017 8:20am
Quoting pipbooster
Anybody can share EA that can make 7-10pips daily?
I think manual trading is much useful in this case! Because, EA trading is limited when manual trading is flexible!
  • #49
  • Nov 13, 2017 6:25am Nov 13, 2017 6:25am
Quoting UlliC
I would not chace any daily targets myself, cause this could lead to overtading and entering the market in the wrong time in order to compensate for possible losses.
Are you sure your advice in not biased and one-sided??? You speak like daily target is kind of evil and pushes a person to take wrong actions...

How about changing perspective and turning your bias around... this way:

Easy daily target allows me to reach small, short term goals consistently in order order to reach big, long term goals AND allow me to avoid over-trading by selecting few, best possible entries.

Can you see difference?
  • #50
  • Nov 13, 2017 6:46am Nov 13, 2017 6:46am
Ullic is 100% correct..
you must trade the market conditions in front of you.
As soon as you start overlaying personal specific targets you are clouding the lens.
There are countless threads here suggesting that that is not the case. They are wrong.
Your target can only be to do the best you can with what is in front of you
  • #51
  • Edited 7:38am Nov 13, 2017 7:21am | Edited 7:38am
Quoting mollyellie
Ullic is 100% correct.. you must trade the market conditions in front of you. As soon as you start overlaying personal specific targets you are clouding the lens. There are countless threads here suggesting that that is not the case. They are wrong. Your target can only be to do the best you can with what is in front of you
I am afraid, as soon as you put a limit on your mindset, you miss potential for greater results, dont you think so?

Keyword for my post was EASY. Easy means easily achievable, in short period of time. And in case of some losses, easily retractable, without too much effort.

Are you telling me you cannot do 7 pips per day as in the title? On any pair? ANY? Even the most flimsy forex pairs moves 20-30 points in a day. And there are many of them. Many move 100-200 points per day. In total there is probably cumulative thousand of points on forex market move a day. And you are telling me it is impossible to make +7 points a day total out of thousands? Really?

Of course it is possible! And if yes, the question is not IF, but HOW? But again, this requires thinking.

Just because somebody failed or even many failed, will you take it as a prove of impossibility? Did MJ did his walking, because nobody before him did it? Do you know why black swan event is known by this name? I do not want to give motivational speech here, but with this mindset better look for a new career, AI will wipe you out soon.
  • #52
  • Nov 13, 2017 7:41am Nov 13, 2017 7:41am
read what i wrote.. i said nothing about putting a limit on your mindset.. i suggested not to set specific targets and the reason for suggesting that.l
And no, you will not make 7 pips a day. That is simply not how trading foreign exchange, or any other market, works. This isnt an annuity. It is a 50/50 outcome if you are well resourced, well planned, and have lots of experience. That 50/50 Can be profit if you go after the trades that tick all the boxes for you.

And no , it is not impossible. Although it is a hell of a lot of hard work to make it possible. Be in no doubt about that
  • #53
  • Nov 13, 2017 7:43am Nov 13, 2017 7:43am
Quoting mollyellie
read what i wrote.. i said nothing about putting a limit on your mindset..
A simple question: do you believe it is im-possible to make +7 points a day total out of thousands? Yes or Not?
  • #54
  • Nov 13, 2017 7:46am Nov 13, 2017 7:46am
you maybe able to average 7 pips a day but it will not happen by making 7 pips every day.
  • #55
  • Nov 13, 2017 7:54am Nov 13, 2017 7:54am
Quoting jdieieh
{quote} Are you sure your advice in not biased and one-sided??? You speak like daily target is kind of evil and pushes a person to take wrong actions... How about changing perspective and turning your bias around... this way: Easy daily target allows me to reach small, short term goals consistently in order order to reach big, long term goals AND allow me to avoid over-trading by selecting few, best possible entries. Can you see difference?
Hey mate,
I don’t think I am biased. It is just my way of approach. Instead of settig daily goals, I just try to make the most of the current market situation. I am not saying what is write or wrong, cause certain mind - set suits to one and it is disaster to another. All I said is what works for me.
Green pips to all
  • #56
  • Jul 13, 2020 8:29pm Jul 13, 2020 8:29pm
I love this method I go for 6 pips a day and start one hour before london when the european market opens dodging news announcements.
i will either take 3 pips profit then go for another 3 pips when london opens. If the market throws more at me I take it.
I only trade GBPUSD and concentrate on one currency.

you lose 12 pips then you know it will take 2 days to get get it back.

It aint easy but a small pip target is far easier than trying to get larger moves.

For me...this is the best way to trade for a retail trader in out get your 6 pips then stop trading and read forums lol


I prefer to trade renko charts = there are plenty on threads on renko and free renko indicators to give you renko charts
I found tho that the free ones can lag so I use a paid renko indicator was I think 90$ lifetime.
so say my account is $500 then my lots are .5 and I compound up the lots every $100 so at $600 my lots are .6 etc
trade .01 lots till you know you can get your 6 pips a day.
  • #57
  • Jul 13, 2020 8:50pm Jul 13, 2020 8:50pm
Here is a little help. I use it sometimes to catch trades during eruo usd sessions I stay out of other sessions
Both indicators work independently of each other but together shows clear picture of moves. it is just the waiting lol

1 hour charts up is best I haven't tried lower times but try them if you want and as per my previous posts its ok on renko too

Ill also post the price bands I never trade out side them or close to them. So it gives me boundaries to trade.

Some people dont like the Barry sup/res indicator but hey just look at how it works!
Attached File(s)
File Type: ex4 Support and Resistance (Barry)lines.ex4   8 KB | 277 downloads
File Type: mq4 Support and Resistance Breakout Arrows.mq4   9 KB | 293 downloads
File Type: mq4 ©Price Border.mq4   8 KB | 288 downloads
  • #58
  • Jul 15, 2020 8:55am Jul 15, 2020 8:55am
In my opinion, seeking to do an X number of pips every single day is not a plausible goal. It's possible, but not plausible.
  • #59
  • Jul 16, 2020 10:13pm Jul 16, 2020 10:13pm
Quoting mlawson71
In my opinion, seeking to do an X number of pips every single day is not a plausible goal. It's possible, but not plausible.
It depends on your trading style - It stops over trading and if you compound it is a very good way to stay in profit.

I go for 6 pips a day and make $100/day so far with my compuonding

if I lose I know 6 I know it is one days work if I let it lose 12 pips I know it is 2 days work to catch up. less spread lol and for me comission .
  • #60
  • Jul 17, 2020 2:26am Jul 17, 2020 2:26am
I do not see why it is not possible, but rather just focus on making a consistency trading over focusing on number of pips every single day. It is unfeasible and unhealthy way to be trading.
0 traders viewing now