How many pips that you get per day?

[andry777]

Support and resistance are highest and lowest points that a pair has gone to in the last day, week, month, all time, etc. That is the bonafide area to set your stop losses or take profits since these prices are difficult to break.

Yes, I knew it. I think that is the best price to open or close position not to place Stop Loss. Maybe in some condition, it is possible if Support and Resistance point can be used as Stop Loss but not in all conditions. If your current open position is really far away from Support or Resistance point, so you shouldn't set Stop Loss point in there.

[stefanie]

I planned to make several accounts in trading so it can cover each other when one account in loss condition. In short-term trading, usually people will make target few pips of profits but they gained good enough profits in dollars because they used high lot size. It happened in scalping traders, but it is possible for short-term traders who used style news trader to gain high profits because movement price of pair after news is appearing. For scalper, as I knew that is about 20-30 pips daily and for news trader, it can be about 50-100 pips daily.

[chuna1985]

@ stephaine: 20 to 30 pips is good, but for a scalper or a newbie trader, continuous/consistent pips that matters. Traders should look more on their trading advancement, not on how many pips that they make per day.

[andry777]

@ stephaine: 20 to 30 pips is good, but for a scalper or a newbie trader, continuous/consistent pips that matters. Traders should look more on their trading advancement, not on how many pips that they make per day.

I am agree with you. Consistency to earn profit will be more important than how many pips that we can get in certain day but inconsistent. I prefer to get consistent profit in similiar range than I got high profits in a time and then in other time I got high losses. It will be hard to manage if condition of our trading like that. 20-30 pips daily can be higher in profit if you can increase lot size.

[chuna1985]

I made 30 pips this morning through sell order in the daily candle of the GBP/USD pair. It means a probable successful day for me so far.
This shows that profits in forex trading keeps changing, on monday, i got minus 12 pips in my total trades.

[nehmer]

I made 30 pips this morning through sell order in the daily candle of the GBP/USD pair. It means a probable successful day for me so far.
This shows that profits in forex trading keeps changing, on monday, i got minus 12 pips in my total trades.

what do you mean you get a minus of 12 pips on monday? does that mean you get less action and pips on monday alone? so the other business day of the week are 30 pips per day? would you recommend to trade only starting from tuesday to get 30 pips instead of half only on monday.

[chuna1985]

@ Nehmer : I mean that i got a loss of 12 pips on monday. Tuesdays are usually better than mondays. There is a breakout in pairs since there is noticeable volatility in the forex market. Tuesdays, wednesdys and thursdays are the most volatile days.

[andry777]

@ Nehmer : I mean that i got a loss of 12 pips on monday. Tuesdays are usually better than mondays. There is a breakout in pairs since there is noticeable volatility in the forex market. Tuesdays, wednesdys and thursdays are the most volatile days.

I am not agree with you, Friday can be so volatile too because there are many speculants who entered to market in Friday because many traders who didn't do trading in Friday too. If Monday, the condition is a little bit hard to be predicted so I did trading few hours after open market.

[chuna1985]

Some days, traders can get more pips than they expected or planned for. Yesterday, EU and GU sold for about 300 pips each. I made 255 pips yesterday during this news and that is the biggest amount of pips that i have ever made.

[andry777]

Some days, traders can get more pips than they expected or planned for. Yesterday, EU and GU sold for about 300 pips each. I made 255 pips yesterday during this news and that is the biggest amount of pips that i have ever made.

Wow 255 pips in a day, that was incredible achivement I think. So you got profit both with GU and EU as your pair trading, it will give great impact to your psychology. I never got more than 100 pips in a day, so how did you analyze market so you can get that much amount of pips?

[chuna1985]

I am not agree with you, Friday can be so volatile too because there are many speculants who entered to market in Friday because many traders who didn't do trading in Friday too. If Monday, the condition is a little bit hard to be predicted so I did trading few hours after open market.

Friday is not a day in trading that is too volatile. Many traders exit their trades no friday because the trading week will close on that day. The only time that fridays are very volatile is on the days that major news events are released into the forex market.

[andry777]

Friday is not a day in trading that is too volatile. Many traders exit their trades no friday because the trading week will close on that day. The only time that fridays are very volatile is on the days that major news events are released into the forex market.

I think each trader has his/her own consideration, if all traders didn't trade in Friday so it is not necessary to open market in Friday If me, it's better to train how to face Friday so we didn't need to run away from trading in Friday. One advice, we can use lower lot size when we trade in Friday and more strict money management maybe.

[chuna1985]

@ Andry777 : We train ourselves for every type of trading and at any time also. But that does not mean that we should not be cautious with fridays and mondays.

The market is not too volatile in such days so we must acknowledge that as traders.

[andry777]

@ Andry777 : We train ourselves for every type of trading and at any time also. But that does not mean that we should not be cautious with fridays and mondays.

The market is not too volatile in such days so we must acknowledge that as traders.

We still be careful with that days but we didn't need to stay away from those days. In my style, each condition will give chances to get some profits but it will give chances to give losses no matter how bad and how good condition. So I won't depend on condition, but like I said if each trader has different style. If you didn't like to condition which is too volatile and you wanted to away from Friday and Monday, that is not mistakes too.

[KiRA]

pips that you get per day depends upon the strategy you use.. as for me I just get about nothing per day until I close my positions..

[andry777]

pips that you get per day depends upon the strategy you use.. as for me I just get about nothing per day until I close my positions..

It won't be exactly same but you must have target each day if you wanted to get high amount of profit. We can use range of pips that we wanted to get with current strategy that we made. It is not good if we did trading without any targets to reach and only depend on our close positions in that time.

[KiRA]

As I've said it depends on the strategy we use.. I don't have any target pips in a day. because I'm using a strategy that can trade for a lot of days and make the most out of it.

[radex78]

Yes, I knew it. I think that is the best price to open or close position not to place Stop Loss. Maybe in some condition, it is possible if Support and Resistance point can be used as Stop Loss but not in all conditions. If your current open position is really far away from Support or Resistance point, so you shouldn't set Stop Loss point in there.

area resistance and support is the price that has more opportunity to do transactions, have a high probability i think, to determine areas of resistance and support I see only on candle, but sometimes also by using the Fibonacci retracement

[andry777]

As I've said it depends on the strategy we use.. I don't have any target pips in a day. because I'm using a strategy that can trade for a lot of days and make the most out of it.

I think that is not good idea if you didn't have target profit everyday. It will bring you to move without any limitations, in my opinions we must know when is time to start trading and when is time to stop trading. If there is no target profit and no target loss so we could trade continously which usually made us not gaining daily profits. I think it's better if we stopped trading when we have reached daily profit.

[radex78]

I am agree with you. Consistency to earn profit will be more important than how many pips that we can get in certain day but inconsistent. I prefer to get consistent profit in similiar range than I got high profits in a time and then in other time I got high losses. It will be hard to manage if condition of our trading like that. 20-30 pips daily can be higher in profit if you can increase lot size.

but higher lot size will from more risky because the margins used to be great as well, if we do not experience loss transactions by using the higher lot will be very profitable, but if one would wrong analysist make a loss is also getting big
may we must look with own margin to change lot size