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How many pips per Week - Classification of a trader

  • #21
  • May 10, 2016 9:28am May 10, 2016 9:28am
Quoting swingtrade65
{quote} At the very least the ATR X 1.5 for range must be considered. I would say that if are a beginner there are much easier pairs to trade. It is my favorite pair and the one that I make the most money with, but you need to have a big picture viewpoint and be willing to ride swings of hundreds of pips. I would suggest that if you really want to trade the dragon, start with the daily chart and the smallest lot size that you possibly can to learn it before trying to trade the hourly chart.
Thank you four your advice. GBPJPY is a combination of 14 currency pairs and so is active 98% of the time in a year. I have made a lot of pips trading this pair since last year. I wanted to fine tune trading of this pair and am looking for volatility statistics from experienced traders. I just want to stick to one pair only GBPJPY and focus my time and efforts on making money out of trading it.
Practice makes a person perfect
  • #22
  • Last Post: May 10, 2016 11:01am May 10, 2016 11:01am
You are a probaly a newbie on forex. What matters is Position Sizing , pips mean nothing. If you win 9 trades risking 2% and you win 10 pips on each one , and then you lose 100 pips in one trade but you risked 1% , you have negative pips balance , but you Made Money , dont focus on pips , focus on %.
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