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10 pips a day can make you rich quickly

  • #141
  • Jan 5, 2016 10:39pm Jan 5, 2016 10:39pm
Forex is all about CONSISTENCY,if u can achieve that over along period of time then u r in the blue zone.be it +1 or +1000 it doesn't matter as long as u can do it over and over again.and how do u know u r consistent? by simply putting your strategy to test over many trades,some suggests a thousand trades.with a proven track record then you can work out on your LOT size to reflect ur desired gain.CONSISTENCY is the key.
  • #142
  • Jan 6, 2016 7:08pm Jan 6, 2016 7:08pm
i agree bro, just make sure u can make ur profit again and again as constant as u can will make u enjoy ur forex trading, because with constant profit u can do ur forex trading while improve ur skill and experience again and again for anytime u do ur forex trading. just like what i said, dont rush ur forex trading just keep calm and make some profit.
  • #143
  • Jan 7, 2016 7:30am Jan 7, 2016 7:30am
True. If you profit consistently you can make quite a bit of money, even if your initial account isn't that large.
  • #144
  • Jan 7, 2016 7:57am Jan 7, 2016 7:57am
Going back to the core of this thread ¨10 pips a day can make you rich quickly¨

I´d better had said ¨10 pips a day is a very good and consistent profit that will make you last long in this business¨

10 pips a day will NEVER make you rich QUICKLY at least you are already RICH.

The size of your account will decide how much money you´ll make. If you are rich or have a big account, then you can make very good money, but ir your account is small it will take you long time to be rich.

However I wouldn´t focus on making only 10 pips a day...I think you have to target higher objetives regardless that you have to be very careful all the time. Being ambitious doesn´t mean being greedy, so it is fine making 10 pips a day but not like a goal.
  • #145
  • Jan 7, 2016 6:28pm Jan 7, 2016 6:28pm
i just said have a constant profit is good enough for u to keep learn about forex trading while make some profit, but i think it will hard to be rich by small profit, i just suggest when u already can make a constant profit and think about u already have a good skill u can start raise ur profit little by little.
  • #146
  • Jan 7, 2016 6:59pm Jan 7, 2016 6:59pm
Howev
Quoting gabanda
i just said have a constant profit is good enough for u to keep learn about forex trading while make some profit, but i think it will hard to be rich by small profit, i just suggest when u already can make a constant profit and think about u already have a good skill u can start raise ur profit little by little.
Yes, why not? It'absolutelly valid process of learning and growing up as a trader. Much better and healthier than those trying to make a trillion every day.
However, it is possible to have a good money management at same time of trying to suck as much blood of the market as you can.
Money management and discipline are in my opinion the more important qualities of a succesful trader, even more than a good strategy. Cheers
  • #147
  • Feb 5, 2016 8:53am Feb 5, 2016 8:53am
What about trying to increase one's balance by 5% per day? Sounds a little but can add up to a lot over a very sort period of time
  • #148
  • Feb 5, 2016 9:57am Feb 5, 2016 9:57am
Quoting jmtini
What about trying to increase one's balance by 5% per day? Sounds a little but can add up to a lot over a very sort period of time
I am anxious to listen...how?
  • #149
  • Feb 5, 2016 9:58am Feb 5, 2016 9:58am
make it simple.1pip a day make you rich.if you can
  • #150
  • Feb 5, 2016 3:16pm Feb 5, 2016 3:16pm
Quoting vasily
make it simple.1pip a day make you rich.if you can

Yes 1 pip a day can make you a millionaire in no time provided you can sustain it but no one has achieved it constantly without blowing their accounts.
Some have done it for one day, one week, one month and even one year and the juice ran out. It can only make you rich if you can sustain it.
  • #151
  • Feb 5, 2016 3:42pm Feb 5, 2016 3:42pm
Quoting tradability
{quote} Yes 1 pip a day can make you a millionaire in no time provided you can sustain it but no one has achieved it constantly without blowing their accounts. Some have done it for one day, one week, one month and even one year and the juice ran out. It can only make you rich if you can sustain it.

1 pip very high leverage right?
  • #152
  • Feb 5, 2016 5:29pm Feb 5, 2016 5:29pm
i think if you really know how to trade
and you target few pips per trade
then from 5 to 9 pips is the target .. no more no less !
  • #153
  • Feb 5, 2016 5:43pm Feb 5, 2016 5:43pm
Yup, you are right, 10 pips a day will make you rich, but to actually achieve that is harder than it sounds.
10 pips sounds easy, but it is actually not easyer than achieving 100 pips each month if you think about it.
but if you can do that each day, then what is stopping you from doing it every hour
Bulls are stupid Animals!especially when Im short!
  • #154
  • Feb 5, 2016 5:57pm Feb 5, 2016 5:57pm
Quoting roughtrader
Yup, you are right, 10 pips a day will make you rich, but to actually achieve that is harder than it sounds. 10 pips sounds easy, but it is actually not easyer than achieving 100 pips each month if you think about it. but if you can do that each day, then what is stopping you from doing it every hour
odds of earning 10 pips/day for 200 days in a row are almost same as winning powerball. Even if you are successful, you only got 2000 pips. I would rather try my luck with powerball
  • #155
  • Feb 5, 2016 6:51pm Feb 5, 2016 6:51pm
Quoting charron
{quote} odds of earning 10 pips/day for 200 days in a row are almost same as winning powerball. Even if you are successful, you only got 2000 pips. I would rather try my luck with powerball
It's the compounding and value of a pip.
If you increase dynamically within risk parameters and do not remain static I think you may quite happily take your 2000 pips.
  • #156
  • Feb 6, 2016 2:23am Feb 6, 2016 2:23am
Quoting charron
{quote} odds of earning 10 pips/day for 200 days in a row are almost same as winning powerball. Even if you are successful, you only got 2000 pips. I would rather try my luck with powerball

You are perfectly right there hence why everybody thinks trading is easy BUT not many become wealthy from trading and the ones that do make it they were extremely lucky and if they don't get out they will lose it all.
  • #157
  • Feb 6, 2016 4:51am Feb 6, 2016 4:51am
Quoting fx75
i think if you really know how to trade and you target few pips per trade then from 5 to 9 pips is the target .. no more no less !
I agree with you, fx75

We all have our own strategy right? I know with mine I should be averaging 20 pips a day at least. I think that's the point we're all missing. We have to average 10 or 20 pips (whatever one's individual target is) a day. Because one day you might win 30 pips but the next day you lose 10 pips but on average you're still on target.

I'll be quite honest on this thread what my problem is. I can make my target consistently - no problem. Normally it's early morning (European session) which time is by far IMHO the best time to trade day in and day out. But instead of being content with that I keep overtrading going into the highly volatile afternoon and losing it all. It's mental - an addiction one HAS to control if one wants to win at this game. What I'm saying is that once you've made your target or even 1 or two pips short, STOP trading! Tomorrow you'll probably make 12 pips instead of 10 - tomorrow's a new day with LOTS of new opportunities!
  • #158
  • Feb 6, 2016 7:23am Feb 6, 2016 7:23am
Quoting jmtini
{quote} I agree with you, fx75 We all have our own strategy right? I know with mine I should be averaging 20 pips a day at least. I think that's the point we're all missing. We have to average 10 or 20 pips (whatever one's individual target is) a day. Because one day you might win 30 pips but the next day you lose 10 pips but on average you're still on target. I'll be quite honest on this thread what my problem is. I can make my target consistently - no problem. Normally it's early morning (European session) which time is by far IMHO the best time...

There's an easy fix for your excuse. It is called an EA BUT it seems you refuse to accept that even using an EA to control your emotions or mentality or anything it still won't do it otherwise everyone would ibe making millions and if everyone is making millions then the liquidity providers are losing millions.
The fact of reality is about 98% of traders lose their money long term but you won't accept this either, until you accept this and you change it so that you are on the 2% of winning traders you will always pretend you can make excuses.
  • #159
  • Edited 7:59am Feb 6, 2016 7:33am | Edited 7:59am
Quoting tradability
{quote} There's an easy fix for your excuse. It is called an EA BUT it seems you refuse to accept that even using an EA to control your emotions or mentality or anything it still won't do it otherwise everyone would ibe making millions and if everyone is making millions then the liquidity providers are losing millions. The fact of reality is about 98% of traders lose their money long term but you won't accept this either, until you accept this and you change it so that you are on the 2% of winning traders you will always pretend you can make excuses....
So you are one of the 2% that is making money are you tradability? My post was simply to help others not to fall into the same trap of overtrading which is very common and very dangerous.

My goodness, we do get some morons on forex factory

Best thing to do is press that good old "ignore" button guys!!
  • #160
  • Edited 4:17pm Feb 6, 2016 11:21am | Edited 4:17pm
Quoting jmtini
{quote} So you are one of the 2% that is making money are you tradability? My post was simply to help others not to fall into the same trap of overtrading which is very common and very dangerous. My goodness, we do get some morons on forex factory Best thing to do is press that good old "ignore" button guys!!

Yes best to press that good old ignore button loser and stay as one of the 98% lol and I didn't say I was one of the 2% did I? Perhaps you need to go back to school and improve your literacy skills!

"My post was simply to help others not to fall into the same trap of overtrading which is very common and very dangerous"

So your conclusion was based on being a losing trader or a trader that trades for a living?
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