DislikedWell it's not a bad place to enter a short...
but my question would be the R/R ratio Joeseph is using before he enters his trades. Anyway he's right about his daily target: you don't need to make a lot of pips a day really (espcecially if you have a large account).Ignored
If you run the numbers (and I have) and with a small starting balance of say $1,000 and by trading 1 mini lot for every $1000 in your account -
10 pips/day = just over $8K / year
20 pips/day = around $99K / year
30 pips/day = a little over $1.2M / year
By keeping it small and staying in profit - life could be real sweet
Australians wouldn't give a 'Forex' for anything else...