i want only 1 pip everyday | Forex Factory

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Attachments: i want only 1 pip everyday
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i want only 1 pip everyday

  • #1
  • First Post: Jan 25, 2012 12:00pm Jan 25, 2012 12:00pm
Noobs, go away.

For pro's. Do you know the way how to earn 1 pip everyday trading on forex?
I trade 3 lots at once. That's 30$ per trade. 20 days = 600$. On 5 accounts that's enough for me (3000$). That's all i want. Do you know the way how could i achieve this?
  • #2
  • Jan 25, 2012 12:16pm Jan 25, 2012 12:16pm
Quoting Ged

That's all i want.
I see, well that's not a lot to ask for, I mean how difficult can it be right?

Ok so that's reward taken care of, how about risk, what would you want to do about that?
  • #3
  • Jan 25, 2012 12:19pm Jan 25, 2012 12:19pm
Quoting Ged
Noobs, go away.

For pro's. Do you know the way how to earn 1 pip everyday trading on forex?
I trade 3 lots at once. That's 30$ per trade. 20 days = 600$. On 5 accounts that's enough for me (3000$). That's all i want. Do you know the way how could i achieve this?
Go for it man! What have you got to lose?! Oh wait.
  • #4
  • Jan 25, 2012 12:21pm Jan 25, 2012 12:21pm
Keep in mind the spread, though. With only 1pip as a TP, your risk right off the bat can be 3 times that.
  • #5
  • Jan 25, 2012 12:26pm Jan 25, 2012 12:26pm
Quoting 2+2=4ex

Go for it man! What have you got to lose?! Oh wait.
lol, ya gotta luv 'em for their naivety

The "Noobs, go away" bit is great though!
  • #6
  • Jan 25, 2012 1:05pm Jan 25, 2012 1:05pm
Ok so it got moved to the rookie section, I guess it deserves a reply....

Like EmeraldEyes said, the spread alone is going to be greater than your potential reward, and then there are inevitably going to be losing trades.

Think about it, you'll see that it's really not a feasible plan.

Instead of wasting your time and money with this why don't you simply learn how to trade, it's not that difficult. Sure it takes time to become proficient but the rewards at the end of it make it worth while.

Good Luck!
  • #7
  • Jan 25, 2012 1:15pm Jan 25, 2012 1:15pm
Instead of 3 lots and 5 pairs, why not just go with 1 pair and 15 lots? Same math, and less trouble with spread all things considered.

If you actually spent some time demo trading like this you'd see why for yourself, and stop wasting your time with stupid threads like this one.
To improve is to change. To perfect, is to change often.
  • #8
  • Jan 25, 2012 1:37pm Jan 25, 2012 1:37pm
Quoting Ged
Noobs, go away.

For pro's. Do you know the way how to earn 1 pip everyday trading on forex?
I trade 3 lots at once. That's 30$ per trade. 20 days = 600$. On 5 accounts that's enough for me (3000$). That's all i want. Do you know the way how could i achieve this?
well, earning on average one pip a day is not difficult, but earning 1 pip really everyday is pretty hard.
  • #9
  • Jan 25, 2012 2:10pm Jan 25, 2012 2:10pm
I have a easy way. Take a trade with no SL, long if you flip the coin Heads, and Short if you flip tails, and take profit at 1 pip. This will give you 1 pip most of the days. On the days that you don't hit 1pip profit, trade double the size and if that fails, next day 3x the size, eventually you will cover the deficit of pips and you can reduce the size of the trade to the original amount. There you go...
  • #10
  • Edited 8:32pm Jan 25, 2012 2:35pm | Edited 8:32pm
Going for only 1 pip on a daily basis puts you in a position to have to be deadly accurate on each trade, since your risk to reward is off. If you are more of a Fundamental Analysis type of trader then you trade around news which can be volatile and a higher chance of slippage. I know your not using a position trading approach since it requires that you hold your positions for longer than 1 pip. If you are a Technical Analysis Trader then you trade based on setups, patterns and levels. The risk on each trade is predicated on how many pips are being risked in the setup. I think it is pretty hard to find a setup with a risk of 1 pip even on the 1Min chart. Using this strategy forces you to do the opposite of what successful traders do and that is cut losses short and let profits run. If your bias is correct and you kill your trade at 1 pip leaving profits on the table. If your using a 1 pip stop-loss you are more likely going to have more losses then winners since the markets can can have pull backs if price runs away from your entry like it does on most trades your done. In order to gain 1 pip your going to have to gain 2-3 pips to make up for the spread or any commissions if any. This puts your risk to reward lope sided and heavier on the risk side. If you are not using a stop loss then your account will experience huge draw downs since you are not establishing your risk amount before you enter the trade. Overall this approach will lead to losing your hard earned money.
  • #11
  • Jan 25, 2012 3:01pm Jan 25, 2012 3:01pm
I think it is not a bad idea to go for a 1 pip. I know traders who only want a 0.1 pip. Of course they play with millions but it does show that there is something in this strategy.
  • #12
  • Jan 25, 2012 3:02pm Jan 25, 2012 3:02pm
This is a common newbie mistake, to work the maths so that 1 pip per day can make you a living and then to look for a way to make "just one pip" each and every day with a 100% win rate strategy. Price fluctuates all over the place every day, so of course we could make just 1 pip per day, right? Wrong.

First of all, the moment you enter you will be 1.5 - 3 pips in the negative due to spread so price will have to move 2.5 - 4 pips in your favour to hit your 1 pip target. It's not possible to enter and have price move even a few pips in your favour every single time you enter. There will inevitably be times when price runs away from your entry right off the bat. In fact it will happen more often than you might think. I could give you a simple strategy that will earn you 1 pip per trade most of the time, but not all the time. And what do you do those times price runs against you without hitting your 1 pip target? Where will you exit the market?

Many of us have had the same idea as you but trust us, the 1 pip per day plan is a no go unless you have the capital to move the market or get a total trade transaction of 0.5 pips or less. And even then it would be difficult and you would still need a good positive expectancy strategy to pull it off.
  • #13
  • Jan 25, 2012 3:45pm Jan 25, 2012 3:45pm
Why enter in 5 different accounts.

If you see strong momentum in one direction it should not be difficult.

Fingers crossed...


Quoting Ged
Noobs, go away.

For pro's. Do you know the way how to earn 1 pip everyday trading on forex?
I trade 3 lots at once. That's 30$ per trade. 20 days = 600$. On 5 accounts that's enough for me (3000$). That's all i want. Do you know the way how could i achieve this?
  • #14
  • Jan 25, 2012 11:47pm Jan 25, 2012 11:47pm
Quoting zek132
I have a easy way. Take a trade with no SL, long if you flip the coin Heads, and Short if you flip tails, and take profit at 1 pip. This will give you 1 pip most of the days. On the days that you don't hit 1pip profit, trade double the size and if that fails, next day 3x the size, eventually you will cover the deficit of pips and you can reduce the size of the trade to the original amount. There you go...
wow, now why didn't I think of that. You are a freaking genius. People, we have finally found the holy grail
  • #15
  • Jan 26, 2012 1:04am Jan 26, 2012 1:04am
The risk is too high. Yes you will have an insanely high win rate, but your average loss will ultimately outweigh all of the gains... and then some (assuming your account is $100,000 or less).

Ironically, if you took the opposite approach of risking only 1 pip for an open ended gain, you stand an equal chance of catching a good run. One problem with this approach is not knowing when to let the profit continue to run. You would have to set a target at some point in this direction also. Wouldn't it be funny if your take profit in this direction was all the previous loss plus 1 pip. LOL. There is also the possibility of falling so deep into negative that recovery is not possible or takes too long to recover making it an economically unfeasible investment.
  • #16
  • Jan 26, 2012 2:12am Jan 26, 2012 2:12am
In case someone was wondering, i was being sarcastic, there is no 1 pip a day system. Find an EDGE! (it's out there)
  • #17
  • Jan 26, 2012 5:19am Jan 26, 2012 5:19am
I have a colleague who aims for one cent movement in equity trading. His account size is 20K+. He earns only 50 dollars per trade by taking one cent profit. And he does so with consistency.

From a rational perpective, the level of risk has been minimized if the trade does go in his desired direction because he literally don't hold winning trades. But to me, it's silly. 20K account to win 50 dollars a day? when you can make at least a few hundreds with the same account size while still staying reasonably conservative.

For Forex, I would say 10 pips miminum for a large trading size is reasonable. Making 10 pips is very easy. I get them everyday. But if you are doing lots of scalping trades in a day, 5 pips or so profit per trade is acceptable.
'For the market to work, it needs people who think that they can beat it.'
  • #18
  • Jan 26, 2012 12:37pm Jan 26, 2012 12:37pm
Quoting Ged
Noobs, go away.

For pro's. Do you know the way how to earn 1 pip everyday trading on forex?
I trade 3 lots at once. That's 30$ per trade. 20 days = 600$. On 5 accounts that's enough for me (3000$). That's all i want. Do you know the way how could i achieve this?
well its really $150 per pip you're doing. just my opinion but why waste your time making 1 pip a day, when you could concentrate making 5 pips in a week. It's like making one good call rather than 5 good calls in a week. You could enjoy more time doing other stuff!!
  • #19
  • Jan 27, 2012 2:41am Jan 27, 2012 2:41am
Quoting AlastorFate
I have a colleague who aims for one cent movement in equity trading. His account size is 20K+. He earns only 50 dollars per trade by taking one cent profit. And he does so with consistency.

From a rational perpective, the level of risk has been minimized if the trade does go in his desired direction because he literally don't hold winning trades. But to me, it's silly. 20K account to win 50 dollars a day? when you can make at least a few hundreds with the same account size while still staying reasonably conservative.

For Forex, I would say 10...
What is your average loss? How often are your trades stopped out?
  • #20
  • Jan 27, 2012 6:41am Jan 27, 2012 6:41am
Quoting Ged
What is your average loss? How often are your trades stopped out?
1. My typical loss amount ranges from a few pips to 15 pips usually.

2. Hard to say. My account size is growing, so I guess I am doing okay currently.
'For the market to work, it needs people who think that they can beat it.'
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