Forex Tutorial
May 30, 2017

The possibility of earning 3 to 5 pips a day

How difficult would it be, after the spread has been paid, to get 3to5 pips each day for a year (200 trading days) by either scalping or slightly longer intraday trading the Eur/Usd or Gbp/Usd?

Or more likely, 3to5 pips every two days?

How difficult…in thought it seems sort-of easy, in practise is it that easy though….i suspect it is not as beguilingly simple as it appears, given the nonlinear nature of the markets.

I wondered what others thought

 

Just a piece of advice: if you think in terms of a set number of pips per day/week (whether it’s 3 or 30 pips is irrelevant) you are toast because you’d be forcing yourself to take positions even in days when market conditions dictate that it’s better to stay well out of the markets (for example is august or Christmas time).

Trading is all about patience and hawking the chart for the right set up to pop up, not about pulling the trigger left and right like a machine gun to get your pips fix.

PS: an average of 3 pips/day is easy to achieve if you know what you are doing. But if you do not know what you are doing, it’s even easier to average at -3 pips/day.

“Trading is all about patience and hawking the chart for the right set up to pop up, not about pulling the trigger left and right like a machine gun to get your pips fix.”

I would totally agree with your statement if God has given me a life of 1,000,000 years, but he hasn’t.

The problem about patience and waiting is, that the time you are able to trade IS LIMITED. Limited by the biological factor that you only have ca. 90 years to live.

So I regard trading about the development of the skill to recognize when a chance, a opportunity pops up.

Go in the 5min Chart. Watch it 30min. How many chances are there you (me too!) are just not able to grab?
If you are not able to grab them, why should you grab the chances in 1-day, a week, yes why?

A question relating to 3 to 5 PIP. Is this not Scalping. I was also thinking I one was able to get 3 to 5 pips and did 20 lost. On a mini that would be not too bad amount of change like $100 if my calculation are write. Is this even a possiblity??? I’m new so this is just the wheels in my brain trying to spin.

Wow. Alot of replys with varying responses.

In reality, even a blind entry (no system. just enter with the flow) would net you profit slightly less than 50% of the time based on your spread and the pip profit desired.

If 1-3 is all your asking, definitely easy. Could easily be accomplished by a new trader in less than two weeks time.

Doing it everyday for 200 days? Also very easy.

Trading, in my opinion, is more common sense than it ever is system. We tend to over complicate things based on our own fears and tendencies. Even our sense of self worth or self image can hamper your trading ability.

What is said about patience and not looking for set pip profits is all correct and well and good, however, that wasn’t the question.

Hope that answer it clear and straight out. If that’s all you need – yeah, it’s easy.

You guys crack me up! I’m doing the same silly stuff on my X-mas break. Check this out:

Oh – 1st you guys have to guess if I’m doing this on a demo acct:

Find a pair on a 5/20 MA cross, take 2 trades in each direction with a T/P 10 pips, SL varying to your liking/self-control.

This one falls into the category – “why does my trade always go for some pips in the opposite direction before it goes in my direction?”

Oh, btw, haven’t backtested yet!!!!!!!

Cheers,

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