I am often pissed off by people who tells me they only have an "EVERYDAY TARGET" of 5pips, 10pips, 15pips etc. My problem here is should it be a habit when there are opportunities at times to make 100-400 pips ?
Firstly, if these are constant scalpers, then i have no say because i know scalpers would use large lot size to target small number of pips so as to make significant profit. conversely, using small lot size to target small number of pips by any trader is what i think will be a stupid idea because what effect will that have on the account size ?
My main grudge here is this, this people who say their daily target is this ridiculosly low number of pips,
1. Are they trying to say that the long waves of about 100-400 pips that can be made by a pair in a day/week(especially the yen pairs) is "ALWAYS AND FOREVER" difficult to catch ? i am however not saying it is easy to catch at all times anyway, but my problem here is should it be a habit of only targetting this small pips ? and if it can be a habit, are these traders long term successful traders ?because i have at many times made 100-400 pips trading waves.
2. For those who always mention 5pips, 10pips, 15 pips as their constant target, what net or long term effect does it have on their account size ? To the best of my knowledge scalpers are not succesful traders on the long run, or can any adamant scalper tell me he has scalped just like that throughout a year and he is succesful with his account or has not blown down any ?account ?
Firstly, if these are constant scalpers, then i have no say because i know scalpers would use large lot size to target small number of pips so as to make significant profit. conversely, using small lot size to target small number of pips by any trader is what i think will be a stupid idea because what effect will that have on the account size ?
My main grudge here is this, this people who say their daily target is this ridiculosly low number of pips,
1. Are they trying to say that the long waves of about 100-400 pips that can be made by a pair in a day/week(especially the yen pairs) is "ALWAYS AND FOREVER" difficult to catch ? i am however not saying it is easy to catch at all times anyway, but my problem here is should it be a habit of only targetting this small pips ? and if it can be a habit, are these traders long term successful traders ?because i have at many times made 100-400 pips trading waves.
2. For those who always mention 5pips, 10pips, 15 pips as their constant target, what net or long term effect does it have on their account size ? To the best of my knowledge scalpers are not succesful traders on the long run, or can any adamant scalper tell me he has scalped just like that throughout a year and he is succesful with his account or has not blown down any ?account ?
know thy edge and abide by it ! 4 in it shall thou be successful !