10 pips (at least) per day

Discussion in 'Forex' started by increasenow, Jun 29, 2009.

  1. I've really kinda realised something...I'm probably not going to make much $$ trying to scalp Forex...I am better at looking at the daily charts...entering a position and setting a manual exit and going on with normal life...I am way to 'aggressive' to wanna jump in a 'trade manually'...I NEED to be removed from manual trading and let the reason or system for why I entered the trade take over...hence, trading with a longer time frame in mind, going on with normal life and NOT scalping...any thoughts?
     
    #21     Jul 1, 2009
  2. I take it you are prepared to absorb the wider pip swings against you(50 - 125 avg) when trading the daily ?
     
    #22     Jul 1, 2009

  3. I think your meds need to be adjusted.:eek:
     
    #23     Jul 1, 2009
  4. Sounds like a good idea, watching pips on a chart can be tormenting, this will be a lot more relaxed and less stressful.

    Like southbeach4me said, you'll just need to adjust trade size to allow for wider stops.

    I don't know what strategy you use but you're obviously going to have fewer ideal trade set-ups so I guess you'll need to be patient, and you'll also have to wait for the trade to play out, the whole trade start to finish could take a while.

    Ask Ivan, he's more of a positional trader so he may have some helpful tips.
     
    #24     Jul 1, 2009
  5. just sold GBP/USD @ 1.6471
     
    #25     Jul 1, 2009
  6. set a target of 50 pips buy to exit
     
    #26     Jul 1, 2009
  7. Did you set a stop loss?
     
    #27     Jul 1, 2009
  8. mounafia

    mounafia

    I would have take the opposite trade...I see more the GBP/usd going up but I only trade the Eur/usd and never at this time of the day.

    So I may be mistaken...

    good luck.
     
    #28     Jul 1, 2009
  9. Someone will be happy when they wake up :D
     
    #29     Jul 2, 2009
  10. A little unhappy if he's taken 50 pips,
    good trade nontheless
     
    #30     Jul 2, 2009