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10 pips a day can make you rich quickly

  • #221
  • May 13, 2019 4:13am May 13, 2019 4:13am
consistently any kind of profit ratio can make you risk , it can be 5% only , but the main problem our trading strategies not works for all time, so consistent profit we don't get most of the time also cant risk from trading.
  • #222
  • May 16, 2019 5:23am May 16, 2019 5:23am
To achieve this with a relative small SL of 10 pips or lower..
I think u must never buy at market price.. always look for discount.. limit orders
  • #223
  • May 16, 2019 4:11pm May 16, 2019 4:11pm
IF you can make 10PIP/day... with SL20 (or lower).... at least 10times in a row...
CONTACT me immediately... I will throw money at you...
You do realise that would mean x40 on deposit?

100EUR deposit..
TP10, SL20, hence 500:1 with 10% stop-out, 10times in a row (100% winrate)... equals....
4.000EUR balance; 4000/100=40...

if you can make it for "just" 30days... in a row..
it doesnt even matter if you are just superlucky.. you would get away with MILLIONS... (out of 100EUR/USD deposit..)
if you can extend "a little"... up to 44days in row.. you could become a billionaire.. or lets say.. 46days.. so we can both be billionaires, even if I cover 100% of the (100EUR or USD) deposit

the title is potentialy correct... you shoudl ballpark the SL, hence leverage, risk, exposure.... but if we assume the "golden" R:R.. above could apply.. hence yes.. you can not only become rich on a TP10 a day (for few months), with SL within 20... but you can become THE BANK... rich no longer applies above at certain number
Can you afford to take that chance?
  • #224
  • May 19, 2019 4:33am May 19, 2019 4:33am
10 pips a day seems easy but may be won`t. think i`ll try this at least in demo.
  • #225
  • May 19, 2019 8:00am May 19, 2019 8:00am
10 pips are easy!
consistency is hard..
  • #226
  • May 19, 2019 8:27am May 19, 2019 8:27am
If such a thing like 10 pips per day was easy to do, then we all would have heard about it since long time being all millionaires by now lol.
And those thinking that it could be doable show how at the beginning of their trading career they are, but hey! that's okay, we have all been there.

So do yourself a favor, forget it and look for another idea and you will save yourself some precious time.
Simplicity is the Ultimate Sophistication.
  • #227
  • Apr 12, 2020 10:46am Apr 12, 2020 10:46am
I did 5000 pips a day trading 0.01 lots on pyramid buying gold with a £10 live account. Was an experiment. Very tiring and I made about £60

10 pips a day is very possible but with what RR and with what lot size?
Money management is the easiest to learn but means life or death!
  • #228
  • Jun 12, 2020 3:53am Jun 12, 2020 3:53am
Every time someone mentions “10 pips a day” I feel that there is a marketing message hidden in it rather than a winning strategy.
  • #229
  • Nov 12, 2020 11:17am Nov 12, 2020 11:17am
Its true. But you have to make a solid plan to achieve that 10 pips.
  • #230
  • Oct 12, 2023 12:02am Oct 12, 2023 12:02am
I have been doing doing this for years and now a billionaire!!!
  • #231
  • Oct 14, 2023 12:32am Oct 14, 2023 12:32am
Im curious as to what method the noah guy does.

Have to say, nearest thing i can compare is either

1. 1h orb after ny open or london open.
2. Silver bullet of ict same time london open and 10 to 11 ny am.
Trading is gambling. So gamble responsibly.
  • #232
  • Oct 29, 2023 12:23am Oct 29, 2023 12:23am
2 models come to mind and not exactly 10 pips.

1. Range of the bar x .1 is the tp, provided that is atleast 50 to 100 pips. Why? 10% of that is 5 pips or 10 pips.

2. And to limit the drawdown, have a htf bias. Let's say daily is bull, and 4h is bear, take the the breakout of 4h into bullish direction.

3. Note risk must be thought of properly, meaning even if that 10/90, that 90 is at most .5 to 5% of your capital.

Breakout could be the s and r lines, trend lines, range of the bar, or any model you like. I'll give a few examples.

https://www.tradingview.com/x/bgGuX4De

Breakout of each bar, based on adr, once you get your 10%, get out.
Trading is gambling. So gamble responsibly.
  • #233
  • Oct 29, 2023 7:28am Oct 29, 2023 7:28am
Quoting Sovy
2 models come to mind and not exactly 10 pips. 1. Range of the bar x .1 is the tp, provided that is atleast 50 to 100 pips. Why? 10% of that is 5 pips or 10 pips. 2. And to limit the drawdown, have a htf bias. Let's say daily is bull, and 4h is bear, take the the breakout of 4h into bullish direction. 3. Note risk must be thought of properly, meaning even if that 10/90, that 90 is at most .5 to 5% of your capital. Breakout could be the s and r lines, trend lines, range of the bar, or any model you like. I'll give a few examples. https://www.tradingview.com/x/bgGuX4De...
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  • #234
  • Nov 8, 2023 4:41am Nov 8, 2023 4:41am
The idea of making 10 pips a day to get rich quickly is a bit of a myth. While consistent gains are essential in trading, it's important to focus on risk management and a realistic trading strategy. Forex trading can be volatile, and aiming for quick wealth without proper risk control can lead to significant losses.
  • #235
  • Jan 6, 2024 9:42pm Jan 6, 2024 9:42pm
I saw article somewhere that the goal of trading is not to maximize the number of dollars you can earn, but to have great statistics.
Trading strategy that has excellent statistics is much more valuable than strategy that can make a lot of money in one trade, but there is no guarantee that this trend will continue.
Therefore, experienced traders and investors will prefer to get 10 pips per day.
Guys, if someone finds such strategy, let me know!
  • #236
  • Jan 8, 2024 9:35pm Jan 8, 2024 9:35pm
Does it need to be consistent 10 pips?

Sometimes you can get only 3 to 7 a day in a good week you can get 35 plus pips. And be consistently profitable.

I mean it is not get rich quick but, you do get net positive over all.
You can't always get a trade or force a trade daily too.

I've been profitable since sept but, not always 10 pips a day.
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Trading is gambling. So gamble responsibly.
  • #237
  • Jan 10, 2024 11:16pm Jan 10, 2024 11:16pm
Martingale.

Here me out.

Discipline yourself to one win per day at most. Or per week or per month. So you don't over trade.

Also only use money you can afford to lose.

And have a specific target that you want to reach, like, this is to allow me passive income on real estate or dividend stocks or treasury bills or index funds

1. You focus on one model where for example price rejects yesterday's high or low by a intra day trend, 5m for example with a higher high lower high or higher low lower low model and enter a 1 to 1 risk with that and 2% or whatever you want as risk.

2. If you do win. Next day. If you lose next day.

3. If you win, next day, same risk 2% or so of capital. And repeat rule 1 to 2.

4. Now if you lose, next day double the risk. If you win, go bacl to normal 2% risk next trade. Else, double the risk again.

The key here is you take trending bets. Else, dont. This will limit your trades, but, it is worth it so, you don't over trade too.

Now let's say you reached the capital where you can use it for your dividend fund. Withdraw, then buy those stocks and be happy and wait for dividends. Then with your extra money, repeat the trading process.

Try it in demo and see.
Trading is gambling. So gamble responsibly.
  • #238
  • Jan 12, 2024 4:19am Jan 12, 2024 4:19am
Quoting Sovy
Martingale. Here me out. Discipline yourself to one win per day at most. Or per week or per month. So you don't over trade. Also only use money you can afford to lose. And have a specific target that you want to reach, like, this is to allow me passive income on real estate or dividend stocks or treasury bills or index funds 1. You focus on one model where for example price rejects yesterday's high or low by a intra day trend, 5m for example with a higher high lower high or higher low lower low model and enter a 1 to 1 risk with that and 2% or whatever...
Follow this advice is you want to go absolutely nowhere with trading. Absolute trash.

By all means everyone go and backtest this nonsense to satisfy your curiosity... don't just believe me. Certainly don't believe shit like the above! Unreal.
Congratulations ScalaFX for coming out of the closet!
  • #239
  • Jan 12, 2024 5:31am Jan 12, 2024 5:31am
Quoting nubcake
{quote} Follow this advice is you want to go absolutely nowhere with trading. Absolute trash. By all means everyone go and backtest this nonsense to satisfy your curiosity... don't just believe me. Certainly don't believe shit like the above! Unreal.
qoutes me then ignores. Haha. Gg.

There's more than one way to trade. good luck to you.
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Trading is gambling. So gamble responsibly.
  • #240
  • Jan 12, 2024 10:38am Jan 12, 2024 10:38am
Could you provide a direct link to these results on MyFxbook?
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