I find it is very interesting if trade EURUSD or even USDJPY with stop loss and trail profit.
Is it feasible? If possible... please anybody suggest me some system
Excel file under...
https://forexintuitive.com/attachmen...9995664718.xls
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I find it is very interesting if trade EURUSD or even USDJPY with stop loss and trail profit.
Is it feasible? If possible... please anybody suggest me some system
Excel file under...
https://forexintuitive.com/attachmen...9995664718.xls
You can make 7 pips daily but consider the spread you're spending to get in and from those trades. Maybe two pips to get in and two to get out? Its more like attempting to create 11 pips each day. Additionally, most algos are taking the fat from the short term market. You need a fantastic broker with tight spreads and a backtested system to compete longer term in this space.
I am afraid, the moment you set a limit on your mindset, you miss possible for greater outcomes, dont you think so?Quote:
Originally Posted by ;
Keyword for the post was EASY. Easy means easily attainable, in short period of time. And in case of some losses, easily retractable, without too much effort.
Are you telling me you can't do 7 pips daily as in the name? On some pair? ANY? Even the very flimsy forex pairs moves 20-30 points one day. And there are many of them. 100-200 points every day proceed. In total there is probably cumulative thousand of things on forex market movement a day. And you're telling me it isn't possible to make 7 points a day total out of tens of thousands? Really?
Of course it is possible! And if yes, the question isn't IF, but HOW? But this requires believing.
Only because someone neglected or even many collapsed, are you going to take it as a prove of impossibility? Did MJ did his walking because nobody did it? Do you know why black swan event is known by this name? I do not wish to offer motivational address, but with this mindset much better search for a new profession, AI will wipe you out soon.
An easy question: Would you think it's im-possible to create 7 points a day total out of tens of thousands? Yes or Not?Quote:
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Hey mate,Quote:
Originally Posted by ;
I don't think I'm biased. It is just my way of approach. Rather than settig daily objectives, I just try to make the most of the current market scenario. I am not saying what is write or wrong, cause particular mind - set suits into a single and it's disaster to another. All I said is what works for me.
Green pips to each of https://forexintuitive.com/attachments/1527055989.png
Lots of big talker here discussing how easy it's to reach 7 pips. Someone even said any fool can attain it. Problem is, before 1 can reach 7 pips, how much risk that he or she gont require for that seven pips.
14 pips for 7 pips ? An individual would fail sometimes and take reduction, it not easy to be consistent, its of understand your chart and be exact in your entrance.
I would not aim for 7 pips each day, I do perform over 3 lots per trade pair and goal for like gt;20 pips profit. Being playing larger size lot, it tend to create more fear and shut in diminished pip profit compare to people playing 0.1 lot planning for 100 pips.
Its very easy to dream and compound money, like I keep win this week although that I could lose another week, its happy to withdraw money than deposit money
Its not as easy, especially for a rookie to be consistent winning.
Are attempting to create 7 pips every day or seeking to typical 7 pips every day over X amount of times?Quote:
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any fool can get 7pips per dayQuote:
Originally Posted by ;
if your following 70pips or a few hundred per day then its slightly more difficult, however anything is possible for those who look hard enough to get a method, particularly for only 7pips
in case you cant get 7 pips maybe a job stacking shelves in tescos would suit you better
Heck, any one, as well as new traders may score over seven pips/day. However, what's the deal with the magic amount posted here? Any reason for the seven?Quote:
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More importantly what is your trade sizing? If you are trading a micro or little $100 or $1,000 account then probably 7 pips is Dollar wise. However If You're trading a Huge account and trading across the lines of 10-20 standard lots/trade afterward 7 pips is significant from a Dollar standpoint
Anything is possible.
Learn what's likely.
NO
Why be happy with 35pips per week when you could have the potential to gain 75-80 per week.
Its nice to stay small, but it will be valuable to your ante. (not always possible with $100).
If your optimistic you can do better identifiion trade for over 7pips
7 pips per day on average is quite achievable. What is not achievable (not even a 1% chance) is what you have on your spreadsheet - turning $100 to over $200 million in five years. You're assuming that you will earn about 28 percent returns per month. That's just crazy. Not the return per month however, the idea that you will make those yields every month for 60 straight months.
It is better to have a % goal each year. Something not exceeding 120%. If you make more, great! But put.
In 120 percent pa, you can turn $100 into over $120,000 in 10 years. Start with $10,000 and you will have over $12,000,000. Of course this assumes that you will be risking a huge chunk of your cash when you get to say $10,000 or $50,000. I really don't think that is realistic. Since your account size grows, your appetite for risk will probably return.
Agree...7 pips is easy to achieve in a day although maybe not consistently everyday.Whoever said its easy to make 7 pips regular consistently they do not understand the stats.If it's possible to make 7 pips regular consistently you can risk more per trade.Ofcourse you can average over 7 pips on a trade to get sure.which lot of traders are doing.But cant promise that you will earn 7 pips everyday.since you are starting out using 100 dollars you'll take 20% risk although not if that cash increases to 10k. You're risking 2k dollars per transaction which is the toughest part to handle.you won't be able to handle the plogical pressure.Quote:
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Whatever is there's the glow will remain in the excel sheet only.Following that in the true trading world is almost impossible.
I agree with Yazzie. It is important to learn your lot size, in order for 7 pips to become purposeful. I exchange using 3 lots on each transaction, for 3 pips profit with each. That gives me an average of 90 per commerce. Doing 3-4 trades a day, this gives me an average of $300 per day, which works great for me. I prefer short-term trading and a trade size of 3 lots is suitable for my technique and account worth.Quote:
Originally Posted by ;
It is up to what works best for you personally. Some prefer to exchange on the long term striking 100 pips per week with a small lot size. I really do 9 pips per day with an average lot size.
It does not matter the amount of pips, but your risk/reward ratio for your account value and commerce size.
Good luck!
Luci, what made you think of a three pip target vs other amounts (2,4,5,10) ?Quote:
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Nice forum, intriguing thread. I want to enable you to get your 7 pips)))
Attempt this TS. If you're afraid about your money don't forget about demonion!!!
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Thank you for thanks
https://forexintuitive.com/attachmen...1731721239.zip
Hello freundr,I chose 3 pips since that has been the ideal quantity of movement to guarantee my trades would shut on the TP at an average of 15 to 20 minutes max. Sometimes it can take more, but its a safer amount to guarantee profits, until the tendency is gone.I tried 7 pips, 5 pips, but I was not comfortable with the range that it took to shut the trades. I prefer security than greed. I trade reversals, with Bollinger bands with 12 periods rather than the normal 20, on 5 minutes charts. The combination of BB with RSI works very well for me. What range of pips do you use to take profit?Quote:
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I think that all OP is trying to show is That the Consequence of compounding hahha
Luci, currently 4 factors at a congested sideways market, 6-10 at a strongly trending market . Seems like we trade in a similar style for time frames and goals. Still playing with the amounts as I hate to find a 3 or 3.8 point place reverse before the magical number of 4. Then try to repeat it 4-5x per day on different pairs.Quote:
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For those who stated making seven pips per day is easy or anyone can do this, try and do it daily for a year then. Look at the trade explorers, there are individuals who can easily earn few hundred pips in a couple of days or even a thousand pips per month. However, look at the whole season and average it out one of all their wins and losses you will realize they hardly even breakeven per month on average concerning account building
If you could only make 7 pips every day on a almost certain rate everyday, you would already be a millionaire in no time supplied u have some guts with your lots.
All the professional traders I know, whether they exchange forex or futures markets, don't make so much per day. That's a term used by marketers, since they understand what beginners are searching for, and that's a steady income so they can get rid of their tasks. Money from the market that it is possible to count on doesn't come stable or well so much per day. Real traders earn profits, funding their costs, save profits, add a few profits for their accounts for further construction of the account, etc.. Just like every company, which is exactly what actual trading is.
....
I will tell the only way a trader is able to earn $1,000,000 out of trading.
Here is an example of 10 thousand trades. Of these trades, you might lose on 6000 of them for smaller declines, win on 3800 of them for moderate profits, and win fairly large on 200 of them. You make your million out of this series of trades by losing only $9 million on your own total of losing trades while earning $10 million dollars on your total of profitable trades. This usually means donating $50 a transaction a lot or contract (in the case of futures), which is really great after expenditures. Very doable with robust procedures. Additionally, you need to remain on your game or you won't do so well.
But this is nothing like you have been promised by the gurus and promoters of the money every day foolishness.
The above quote is from Joel Rensink, a seasoned trader with over 30 years experience. You can read the whole post here. Admittedly he is talking predominantly about his own way of trading, but read into it anything you select.
Maybe I have misunderstood you, but I wholeheartedly disagree with all the components I have quoted.Quote:
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In my experience, the most difficult part is finding a robust edge that'll deliver any kind of consistent profit over many years of shing markets, i.e. your whole trading profession.
If (and I stress IF) it's possible to find such an advantage, and trade it in a high enough frequency, then provided that you've got the guts required to trade considerable amounts of capital, there is no reason why you can't compound your way up to whatever constraints are allowed by your br0ker.
If (for example) 1 percent return is possible, then 2%, 3%, 4% etc is every bit as possible, by simply (1) taking on greater risk per place, (2) trading more frequently, (3) finding similar chances in uncorrelated tools, (4) compounding more frequently, etc etc.. Of course more risk entails bigger drawdowns, hence you have to test to obtain what is optimally both mathematically recoverable and emotionally tolerable, and stay well inside those bounds. Some number.
But simply assuming that (say) 5% each month is attainable, as it feels like a sensible figure, but 28% is not, because it appears too good to be true, ultimately makes no sense.
If a trader could net 7 pips per day, every day, using a 1:1 egy, then using suitable MM and emotional control, he would attain a life changing amount in very quick time. Regardless of if he sets goals, or maybe not.
But to create that 7 pips per day, he would first need to discover a methodology that provides such an advantage. That's the challenge.
___________________
@chaosbun: good post.
The actual challenge is not losing more than just 7 pips in your process of trying to make them. The spreadsheets always look nice, but in fact, everyday you just take 7 pips the moment you buy them , but on these days where your very first trade goes to a loss, and your next, and then your third party... how far do you allow your account slide before you quit trying to return and make your own 7 to the day?
These threads are on every forum related to trading, anyplace. The fear of loss is astounding and why the markets will constantly continue to feed those that could remain stable and not emotionally compromised. Fear of losing is exactly what causes you to place stops to tight, consider profit too soon, seek to obtain only minimal daily profit goals but take endless reductions.
Learn to accept losing within the business and you will start to proceed, I promise that, as long as you don't trade over-levered. The Sonic thread (later being taken over by this hack) is a nice illuion of what happens when you're unwilling to take losing - you end up adding to losing transactions for weeks believing you're on the ideal side of the market. That is complete nonsense that is 100%.
Embrace losing - it makes you one step closer to your next win. Seek to trade well, not be right.
How do you test this kind of advantage? Over many years of changing markets? How can you build up the confidence your egy will work regardless of what the markets do? And when you do build up that confidence following several years of analyzing the egy, how can you know it is going to work ahead?Quote:
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Sooner or later, you have to take a significant leap of faith. The very best way to do this is by managing your risk.
Moreover, I've yet to meet somebody who has never experienced long streaks of losses. Should you wipe out of your account in this sequence, it is irrelevant how much of an advantage you've got. You have no capital left to trade with.
Exactly!Quote:
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The challenge would be to maintain an average your 7 (or anything) pips per day, each day, over a lengthy time.
Yet there are folk in this thread who are saying things like any idiot can get 7 pips a day and why stop in 35 pips per week when you can buy 80? .
However many pips do they should risk, to receive their 7 pips?
And how big will be the adverse swings they need to ride outside?
And for how long can they maintain their edge?
As the saying goes, amateurs focus on returns, while pros focus on risk.
In their defense, when you start off with $1K, it is hard to focus on risk. It is like playing the slot machines. You really care if you lose a few dollars? Insert those $500 deposits within a few years and you have lost a fantastic chunk of change. However, that is not the worst part. The worst part is that you have wasted valuable time.Quote:
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So is it possible to state: 7 pips daily is easy, if you're able to win 100 pips every day by loosing only 93?
https://forexintuitive.com/attachments/1527057284.png
Normally, sure. Instead of making 7 daily, make certain four 35pips trades over the month and you're all set.
, you are fantastic!Quote:
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Thanks for posting this stuff!
Because said, it depends on your profitability and the leverage you use to skyrocket 7 pips/day.
That a 55% profitability will get you a certain amount to risk with a certain leverage.
66% will get you something else.
To give you an example taken from my immediate experience.
I wanted to risk all that I knew and considered to be right for a 64% profitable platform (that's a good border nevertheless).
Mathematically it was right and that I felt comfortable gambling in accore with my standards.
Reality is chy tough. I awakened from a bad dream.
64 percent became 45-46% because of the bad variance, though my sample was okay (thousands of transactions itemized).
I realized this just after 100-150 trades.
Actually, I was overbetting and performance-wise I felt it in my bones.
Answer is: you can make 7 pips, but will you've got any money left to acquire your own 7 pips?
Hanover's post explains without doubt the rationale behind this company: shed weight, win a little more.
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Totally concur average of year or month is the point.
I am not sure that you could make 7 pips a day but I think you can make huge money in case you have good knowldge and also have great skills about Forex.
In my case, I obtained 10pips per trade within 10 days secuentially.
But last trade caused losing all money.
Getting money is tough and long moment. Losing money is short but feel better https://forexintuitive.com/attachments/1527057285.png
Anyway my judgment is the fact that it is not crucial that you get money. It is more important
not to get a stress from trade so that you can exchange long moment.
7 pips daily is very simple to achieve, heck a total noob could do it. Look for TEB's 5,13 ema crass with rsi 20 trading egy with this forum. It's most likely the type of system that noobs begin with as it's not difficult to trade, even on smaller time frames. Hope that this helps https://forexintuitive.com/attachments/1527057285.png GOOD LUCK with your trading.
-Paul
If 7 pips/day is considered as achievable, then traders could actually make big cash if they trade with big lot size, isn't it? As an example, a lot size of 1.00 with a profit of 7 pips would be 700 USD. 700 USD daily, what a major amount of money. :/
Well said, most people who are looking for forex have protected jobs and may (I hope!) Afford to eliminate the bit of money that they put in as time passes. Nonetheless, it's time that your wasting if you are not learning from the mistakes while you're doing so.Quote:
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Hi eurusdthb,
concentrate on good trading initially and not on the amount of money that you can make. If you're trading good and you can do it repeatedly then you will earn money. With a developing account you will have to overcome emotional hurdles that you didn't have before using a smaller account size. Remain trendy and take your time to understand the comprehensive trading thing (technical skills and controlling your emotions) until you risk a lot of your hard earned money in the Currency Market market.
Mike
07 Pips is truly possible. But you need to scalp if you are likely to target 07 pips. Which might not be the appropriate egy for you.
Great guides from !