Average pips per day intraday trading profit target.

[saviola]

sysf

no problem.

 

[etext]

That really is a strange question because each day is different. One day you can make nothing but losses, and the next day nothing but gains.

Every trader develops their own pet entry and exit points in time depending on their length of time and experience trading.

As a rough guide the EUR/USD tends to moves less than the USD/SWISS, and GBP/USD tends to move more than either the EURO or the SWISS.

Having made numerous false starts and several periods of deep loss at the beginning (basically because I didn't really understand what I was doing) I then worked on the principal of 10 pips per day being achievable.

In the end I found it all very restrictive. Now I trade when I see a good opportunity and I sit on my hands when it is looking pear shaped.

This week so far on the GBP - 30 pips profit. Last week on the EUR 168 pips profit, but hey next week could be a loss on them both.

What ever decision you come to I will say this - Find a system that works for you even if it only gives you 5 pips per day on average and stick to it. Work with it and study different possibilities and scenarios. Keep your losses small, and maximise any opportunity that arises, and NEVER, NEVER stay on a bad deal just because you "think" that it has just got to turn around.

Use your eyes, follow your eyes, believe your eyes. If it is going the wrong way - get out!

Happy trading

Etext

Hello

for GBP/USD or EUR/USD what do you consider being a realistic, attainable and sustainable average pips per day intraday trading profit target?

Please state which pair you are referring to.

Many thanks

jtrader.

 

[Dave1971]

I agree with etext, setting a daily target can be dangerous, because it could lead to manufacturing entries that you wouldn't otherwise do, or trying too hard to recover a loss to ensure you match your daily target.

However shutting down your screen and walking away when you've had a couple of good trades in a day that you are happy with is IMO a good idea. It improves discipline and preserves profits that could otherwise be eroded by overtrading because you are having a 'good run.'

As for a figure, well any day in the black is better than the red, but personally I would feel happy banking anything over 20pips in a day. The important thing is not to think of todays profit in the context of yesterdays loss, take it one day at a time, and in isolation.

Dave

 

[gullible]

Dave1971

I have never done FX SB, but it appears that FX SB is more lucarative than stock indices SB. 20pips a day @ £5per pip = £100 a day. That is good trading. I would do anything to get that sort of profit. I am serioulsy considering switching from DJIA and FTSE SB to FX SB.
Pls can you tell me which SB firm do you use? Aslo, any pre trading training that you would recommend?

In your expereince are some pairs easer to make money on as compared to other pairs?

I trust that I am not asking for too much? I shall make it up as and when I get more expereince.

Look forward to hearing from you
best regards
Gullible

 

[henry766]

some futures firms i believe has intraday globex euro margin at $500,5 pips , say half a pip or so in commision = over 10% profit for every 5 pips gained( of course theres a pip or two spread on globex but no more during busy hours ), with compounding , if gained everyday ,doubles u in approx two months ( minimum account size is $10,000 tradeing multiple contracts to maximize compounding. Truth is if your consistantly profitably and trading intraday and frequently , your rich, simple as. ( second part is easier than first)

 

[Dave1971]

Dave1971

I have never done FX SB, but it appears that FX SB is more lucarative than stock indices SB. 20pips a day @ £5per pip = £100 a day. That is good trading. I would do anything to get that sort of profit. I am serioulsy considering switching from DJIA and FTSE SB to FX SB.
Pls can you tell me which SB firm do you use? Aslo, any pre trading training that you would recommend?

In your expereince are some pairs easer to make money on as compared to other pairs?

I trust that I am not asking for too much? I shall make it up as and when I get more expereince.

Look forward to hearing from you
best regards
Gullible

Sorry Gullible, have had some time off and only just seen your post.

I use Capital spreads, and for realtime charts I use prorealtime.com. I don't know of any training available in forex, I have never done any.

GBP/USD is where alot of my better trades come from 100+ pip moves are fairly regular and the daily trading range usually gives a trading oppertunity most days.

Hope this helps.

Dave