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10 pips a day can make you rich quickly

  • #121
  • Oct 13, 2014 10:28am Oct 13, 2014 10:28am
Quoting mkkr
I know of a guy (NOAH) MET him {saw his trading account} he gets 10 pips a day no more no less has a 90 pip stop loss. when i saw his trade account report had not lost a trade in over a year documentation I saw. he makes 200,000.00 a month. gives his whole trading method to anyone who wants it. I just have not taken the time to test it. now you guys can blast away at me. I tell the truth {quote}

I am interested to know his whole trading method.Thank you, my email is: [email protected]
  • #122
  • Oct 16, 2014 3:30pm Oct 16, 2014 3:30pm
This method is suitable?
http://www.forexfactory.com/showthread.php?t=493948
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_12.png Size: 65 KB
Only the price on the chart can show the entrance to the deal...
  • #123
  • Oct 16, 2014 7:27pm Oct 16, 2014 7:27pm
2014 to 2006
not necessary
0.1 pip/day ( 1 point/day ) makes you f**** rich
if you can.................!
My Best Trade is Next Trade!
  • #124
  • Oct 16, 2014 9:01pm Oct 16, 2014 9:01pm
its not only how much pips you can make dally
more important how much pips you risk if you are wrong ..
  • #125
  • Oct 19, 2014 12:32pm Oct 19, 2014 12:32pm
I guess it all depends on how much your pips are worth..... with $10,000,000 stake, you could make a fortune on 1 pip a day with leverage.
  • #126
  • Oct 21, 2014 2:15am Oct 21, 2014 2:15am
How would you differentiate though from 10 pips depending on how much you pay in spread and the lot size? Or I'm guessing in plain simple, profit is profit?

By the way, I'm a junior member who needs mentoring so please don't get annoyed at me for subjects, I'm just here to learn
  • #127
  • Jan 5, 2015 4:48pm Jan 5, 2015 4:48pm
Quoting mkkr
I will find and post the method {quote}
MKKR: Curious to find out if u were able to locate Noah's methods & posted them yet? Would luv to see how he does it. Thanx
  • #128
  • Jan 6, 2015 1:38am Jan 6, 2015 1:38am
The problem is the robots (algos), of the Big Boys, will make those 10 pips from you...consitently....you will hardly find 1 % of traders shooting for that, that really make it consistently...
Big Banks, the Fed and their robots own the shop......and they are not willing to give anybody 10 pips a day...
  • #129
  • Jan 6, 2015 3:12am Jan 6, 2015 3:12am
Quoting cuchuflito
The problem is the robots (algos), of the Big Boys, will make those 10 pips from you...consitently....you will hardly find 1 % of traders shooting for that, that really make it consistently... Big Banks, the Fed and their robots own the shop......and they are not willing to give anybody 10 pips a day...
U make it sound like 10pips a day is a major challenge. I just collected 20 pips shorting AUD-USD & then turned around & made 10pips going long the same pair not too long ago. If one is trading esp. during peak times (1st few hours of session opening & overlap sessions, has decent chart reading & candlestick reading skills & using solid money/risk mgmt) 10p a day is extremely do-able. This is not rocket science.
  • #130
  • Jul 5, 2015 7:21am Jul 5, 2015 7:21am
The math's are simple : 10 pips net profit per day can make you rich (starting from a 1000 USD up to 100 000 USD) in 310 trading days with a constant leverage of 17:1 (which implies increasing lot size).

So where are the difficulties :
1. make a NET profit every day (or week or month for that matter).
2. increasing the lot size ; (in other words risk/reward ratios) or simply : 1 hit stop loss already erases multiple days of trading.

Let's just focus on the first difficulty only because the second difficulty becomes irrelevant if the first one is solved. If someone can give me a method that "guarantees" even a monthly profit, please don't hesitate. In other words, as has been said in an earlier reply, if one has the confidence to make a profit regularly (daily, weekly, monthly), then there would not be an issue in increasing the lot size.

How does one make a NET profit every day of 10 PIPS (every week of 50 PIPS, every month of 200 PIPS) ?
* it does not have to be a single winning trade of precisely 10 PIPS (taking into account spread/commission)
* it could be 2 winning trades of 5 PIPS net
* it could be 3 winning trades of 7+8+10 PIPS, and 1 losing trade of -15 PIPS
* it could be 1 winning trade of 30 PIPS and 1 losing trade of -20 PIPS.
* it could be 1 winning trade of 30 PIPS and 2 losing trades of -10 PIPS.
* it could be 1 winning trade of 25 PIPS and 1 losing trade of -10 PIPS. In other words, nobody minds to get more than 10/50/200 PIPS per day/week/month.

I'm still searching... can't seem to find the right entry points, levels of TP, SL that make my account go CONSISTENTLY up.
  • #131
  • Jul 12, 2015 1:07am Jul 12, 2015 1:07am
It is very much possible to get a +10 net pips are your profit/loss on your daily trades. But you need to be patient and consistent in your target. Don't trade more if you have already achieved 10 pips target a day. Only this approach can take you closer to your goal.
  • #132
  • Oct 29, 2015 1:47pm Oct 29, 2015 1:47pm
I am just a fresher in forex market and trying to learn. I am trying to increase my balance 1% perday. Do you think this is reasonable?
Read, Read, Read, Read..................
  • #133
  • Oct 29, 2015 4:33pm Oct 29, 2015 4:33pm
Quoting fxbkm
I am just a fresher in forex market and trying to learn. I am trying to increase my balance 1% perday. Do you think this is reasonable?

No - sorry, but I don't.

You're trying to do about 4 times better, per month, on average, than the world's top, professional traders who have PhD's in math, have put in their "10,000 hours" of experience, have had the best professional training available, have an expert risk manager standing over them, and are earning 7-figure annual bonuses.

Let nobody tell you that it's "impossible"; but be aware that that is what you're trying to do.

It will help you enormously to concentrate on developing a method with a proven edge, and then exercising it in the market as regularly as you can with appropriate, low-risk position sizing to allow for the worst possible losing runs and losing patches, rather than approaching it the other way round by starting off with an income objective and trying to fit everything else in with that.
  • #134
  • Oct 30, 2015 6:59am Oct 30, 2015 6:59am
Thank you for valuable comments. As a fresher, do you have any recommended strategy or book for me?
Read, Read, Read, Read..................
  • #135
  • Oct 30, 2015 9:39am Oct 30, 2015 9:39am
Quoting fxbkm
do you have any recommended strategy or book for me?

Yes, but my perspective on "learning to trade" is perhaps a little different from those of many others here.

The single biggest and most important thing that made my trading fairly consistently profitable was the eventual realization that "indicators" had no part at all to play in my trading decisions.

Other factors that helped me a lot were:-

(i) the acquisition of patience and discipline;

(ii) starting to develop some understanding (mostly from reading 4 or 5 books by Joe Ross) of the interplay between human behavior and price movements in the markets, and the potentially profitable pattern-recognition aspects of that interplay;

(iii) some dispassionate analysis of probability and "the math of trading", particularly regarding position sizes and statistical assessments of one's "edge" (for which I found both Tushar S. Chande's "Beyond Technical Analysis" and Van K. Tharp's "Trade Your Way To Financial Freedom" helpful - and I recommend Tharp's book as a "first port of call". I also strongly recommend Michael Harris's book Profitability and Systematic Trading (Wiley 2007) in this context);

(iv) an appreciation that there are plenty of good, valuable and often reliable technical analysis parameters and techniques available which have absolutely nothing at all to do with indicators.

"Others' mileage will doubtless vary".
  • #136
  • Jan 2, 2016 4:08pm Jan 2, 2016 4:08pm
Quoting Xela
{quote} Yes, but my perspective on "learning to trade" is perhaps a little different from those of many others here. The single biggest and most important thing that made my trading fairly consistently profitable was the eventual realization that "indicators" had no part at all to play in my trading decisions. Other factors that helped me a lot were:- (i) the acquisition of patience and discipline; (ii) starting to develop some understanding (mostly from reading 4 or 5 books by Joe Ross) of the interplay between human behavior and price movements...

Happy new year and thank you again for this valuable suggestion for me. Could you send me the book " Profitability and Systematic Trading" if you have. This is my mail address [email protected]. :-)
Read, Read, Read, Read..................
  • #137
  • Jan 3, 2016 10:47pm Jan 3, 2016 10:47pm
Quoting dvescio
No, Rob certainly does not reveal everything in that report. Going for 10 pips is a basis on which you can start collecting small gains and confidence. But, in my opinion, going strictly for 10 pips every time is not going to get you very far. Ending up with AVERAGE gains of 10 pips per trade is great, but that implies some of your trades are going to be worth more, some less. But it all depends on your system, too. You have to test it, test it, and then test it some more. If at the end of your testing you find that your system justifies going for...
Maybe I am wrong, but I guess Rob is trying to sell a course...just my gut feeling.
In my personal opinion 10 pips daily, 2000 pips yearly....and getting a profit of 130.000$ yearly. Simply math every pips is 65$...well 10 pips are 650$. So you have to have an account of 50.000$ or so, and risk around 1.5% in every trade (asuming you always make profit of it). Or you have to risk a lot (high leverage) and then pray for miracles...
I dont see it.
  • #138
  • Jan 4, 2016 9:45pm Jan 4, 2016 9:45pm
if u r a new trader then have a 10 pip for a day is good enough because u can make it constant. but if u think u already have a good skill and technique u can start raise ur minimum profit, because for new trader just have a constant profit is very needed. because they can improve their skill again and again for anytime they do their forex trading.
  • #139
  • Jan 5, 2016 12:45am Jan 5, 2016 12:45am
Quoting vvFish
This method is suitable? http://www.forexfactory.com/showthread.php?t=493948 {image}

Demo always looks wonderful .....
  • #140
  • Jan 6, 2016 12:11am Jan 6, 2016 12:11am
10 pips a day is easy, even if you can't get 10 pips on every trading day, you can split your target over a month's time period. Like aim for 220 - 230 pips per month using any time frame. Once achieved, you can stop trading for that month.
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