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Greed and how many pips is enough?

  • #41
  • Oct 4, 2020 10:56am Oct 4, 2020 10:56am
Quoting DeanLittler
It is very important to make decisions in every field of trading. You need to be happy with what you earn from trading every day. And when you are unhappy, you are indulging in greed. And if you indulge in greed, you will start overtrading which is very harmful to your trading future. According to the analysis, you should be happy with as many pips as you can profit.
You are right. Overtrading comes from greed. I always avoid that. I never trade without proper trading signals.
  • #42
  • Oct 4, 2020 6:58pm Oct 4, 2020 6:58pm
I love this forum. In my opinion, it is wise to earn 10% per month of investment. Risk rewards must be maintained if greed is to be controlled. You can set a target of earning 200 pips per month. And you can trade for 1 cent for every 100 dollars.
  • #43
  • Oct 5, 2020 1:14am Oct 5, 2020 1:14am
Greed destroys the trading career. Many traders lose their investment due to excessive greed. Trading with long time targets can save you from losses. I target 2000 pips a year. According to Money Management, we can take trading up to this target.
  • #44
  • Oct 14, 2020 7:10am Oct 14, 2020 7:10am
You know what they say, "5 pips a day will keep the creditors away".
  • #45
  • Oct 14, 2020 7:33am Oct 14, 2020 7:33am
Indeed. I don't think many traders can achieve that though.
  • #46
  • Oct 14, 2020 6:45pm Oct 14, 2020 6:45pm
I teach my students that you do not take what you want you take what you get. If the market wants to give you 30 pips, that's what you get, if it wants to give you 300 pips go for it. The market doesn't care about you and your rules. If you become an expert on reading markets and price action, you will see it's better to have dynamic targets that adjust to the market vs forcing set targets. One of the common sayings is to let your winners run and if you put limits on the market instead of going for what it's offering, its very difficult to achieve this.
  • #47
  • Oct 16, 2020 7:09am Oct 16, 2020 7:09am
I could not have put it better! Adapt to the market, don't try to adapt the market to you!
  • #48
  • Oct 17, 2020 8:26am Oct 17, 2020 8:26am
Quoting 3clipz3
I teach my students that you do not take what you want you take what you get. If the market wants to give you 30 pips, that's what you get, if it wants to give you 300 pips go for it. The market doesn't care about you and your rules. If you become an expert on reading markets and price action, you will see it's better to have dynamic targets that adjust to the market vs forcing set targets. One of the common sayings is to let your winners run and if you put limits on the market instead of going for what it's offering, its very difficult to achieve...
True, also, fixing up a target will only pressurize a trader into making bad trading decisions out of desperation which they could have otherwise avoided.
  • #49
  • Oct 17, 2020 10:12am Oct 17, 2020 10:12am
Quoting 3clipz3
I teach my students that you do not take what you want you take what you get. If the market wants to give you 30 pips, that's what you get, if it wants to give you 300 pips go for it. The market doesn't care about you and your rules. If you become an expert on reading markets and price action, you will see it's better to have dynamic targets that adjust to the market vs forcing set targets. One of the common sayings is to let your winners run and if you put limits on the market instead of going for what it's offering, its very difficult to achieve...
thanks man. you are right. back then i really put my target 100pips daily. i would feel down if it havent reach it. now i just follow the market. keep peace in mind.
  • #50
  • Oct 18, 2020 2:24pm Oct 18, 2020 2:24pm
If you want to become a good trader, you have to control your greed. Greedy trader can not survive in this risky market.
  • #51
  • Oct 18, 2020 6:07pm Oct 18, 2020 6:07pm
Part of the loss in overconfident trading. Greed creates overconfidence. Greed destroys the trading career. So every trader should give up greed. I suggest targeting 200 pips a month is much better. It is possible to survive in trading if money management is used properly with this target.
  • #52
  • Oct 21, 2020 12:21am Oct 21, 2020 12:21am
Personally, I do 10-20 pips of SL with TP always double*SL. So 20SL-40TP and keep into consideration that 20pips SL must be equal or lower to what you can afford to lose on a single trade. I tried different strategies and so far until I get a certain consistency in my trades I'm using 1% risk
  • #53
  • Last Post: Jan 5, 2021 7:07am Jan 5, 2021 7:07am
Every trading style should have a perfect target. Like I try to earn 200 pips a month. And if the target is not met in a month, then never trade over. I keep moving forward thinking positively.
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