How many pips per day do successfull traders target?

Hello!

I want to bacome a day trader and make plan to achieve success on Forex. Do you traders have certain plan for everyday work? For example, 50 pips a day.

I try to make 20 pips a day and because I'm a newbie, sometimes I earn nothing. I think it's the matter of skills and I just have to improve them and get more knowledge. And of course, I should improve my trading plan.

Am I doing this right?

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No, we don't have any targets like that. The sutiation can be different and it's not always easy to trade some certain amount of pips every day.

 

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Hello!

I want to bacome a day trader and make plan to achieve success on Forex. Do you traders have certain plan for everyday work? For example, 50 pips a day.

I try to make 20 pips a day and because I'm a newbie, sometimes I earn nothing. I think it's the matter of skills and I just have to improve them and get more knowledge. And of course, I should improve my trading plan.

Am I doing this right?

 

I trade on medium term and make 1-2 trade a week. Profit target is 10-15% monthly, max risk per trade is 1-2% percent depends on the volatility of the asset. I always use stop losses and fix my lot size I can keep account of my trading activity, trading costs, slippage, spreads etc.

When we look for news trading then we need to be extremely careful of things. It’s not just fixed spread, but a lot of things that need to be watched. I joined up Exness few months ago just to try it out during news trading and I was shocked that they changed leverage suddenly during News which caused me to lose over 2k!

When we look for news trading then we need to be extremely careful of things. It’s not just fixed spread, but a lot of things that need to be watched. I joined up Exness few months ago just to try it out during news trading and I was shocked that they changed leverage suddenly during News which caused me to lose over 2k!

 

News... well.... risky!! Hope you haven't lost much?

Everyone has their own work schedule. For some people 10 items is ok, and some won't stop at 30. I don't think there's only one correct opinion.

Right, every trader has his own way of trading. Few traders like to work according to pips earning while others are happy that they have profit. There are many traders who are trading every day while few are trading as per their analysis.

We see the occurred in conditions of price movements on the day, targeting 5-20 pips per day was more than enough to meet the needs of everyday living, adjusting capital to trading course

Once you have tested your strategy/system in demo that answer will come to you. You can find people that feels that 10-12 points are a place far from the entry, so they need to take profit, and you can also find people that that claims for higher profits in just one trade.

 

Test it, and you will see how you feel in each situation.

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It depends on trading day I guess. Sometimes when market is calm I make 10-20 pips, but in some cases like news trading, talking heads or economic reports trading I can catch up to 100 pips move.

“La pregunta no es quién va a dejarme; sino quién va a pararme”, Ayn Rand, autora de La Rebelión de Atlas.

5-10, consistently

Setting minimums and targets for pips per day will lead you down the wrong path. Some days 20 pips seems impossible and other days 100 seems easy. From this fact alone one can derive correct way of thinking in terms of min. and targets - forget about what you need to make :) - and take what Market is willing to give you......no less, no more.

if you want to use Scalping strategy, you'd better show 50-100 pips profit. Otherwise you won't feel better with less amount of money you earned :)

I open a trade order if I can get 50 pips or more. I trade, if possible. I cannot trade if there is no suitable opportunity. Therefore, in the day I sometimes don't earn anything. I can get losses, it happens too.

For example, daily average volatility at the time of writing is 100 pips per day. The average daily movement could increase to 130 pip per day, which means each hour is likely to see slightly higher pip movement. Or average daily movement could drop to 75 pips per day.

It is good for a trader to take one hundred and more pips sometimes in medium-term trades. I know examples of such success. But how wonderful it is to take 10 pips in a large lot every day! Now, if I could ...

successful traders probably dont target specific pips, they are more concerned about the expectancy of their systems!

There is no exact number of pips to target. You go whenever opportunity arise and then try to follow for continuation. Trying to get fixed amount of profit every day is i think wrong ...

Professional traders do not trade with a specific number of pips in mind. This is because markets do not move in a predictable manner, so a trader cannot bank on a targeted number of pips per trade. Going after a certain number of pips per day sounds like a good plan when trading forex, but it is an unrealistic goal. The market conditions change frequently forcing your strategy in and out of its ideal state without notice. What is needed are goals for factors that can be controlled, like following a strategy and executing it flawlessly. It is recommended starting with a risk-free demo account that has real-time pricing data.