Minimum pips per day goals everyone?

Discussion in 'Forex Trading' started by MasterGambler, Aug 18, 2012.

  1. What is everyone's goals in minimum number of pips per day green in the EUR/USD before you can call it a day? I set my goal at approx 1/3rd average daily range which is 40 pips lately.
     
  2. I don't day trade. Anything less than 80 pips is just noise to me.
     
  3. irniger

    irniger

    40 pips is easy, more is possible, depending on how much time you trade.

    If around and able to watch the screen every half hour or so, enter a trade in direction of price and indicators on M15 chart. Set a TP of 10 pips and no SL. Watch your trade and once TP is hit, start another trade. If you cannot stay at the screen, get out or stay out. Or if in the money set an SL at entry.

    A friend of mine, working at the computer all day, runs a laptop on the side for this strategy and makes 60 - 80 pips net easy every day.

    Felix
     
  4. if you can make 60 to 80 pips easy everyday, what possibly could you be doing that would be more important than being at the screen? Heart surgery?
     
  5. irniger

    irniger

    if you can make 60 to 80 pips easy everyday, what possibly could you be doing that would be more important than being at the screen? Heart surgery?

    Sitting at the screen all day and watching a stupid line and indicators is not for everybody - not even for the money. For some, there is more than just simply making profit. Like studying, creating ads, writing articles or other stuff, that keeps your mind alert and fits your higher endeavors.

    Felix
     
  6. JamesL

    JamesL

    I prefer to go with weekly goals rather than daily. From experience, setting daily minimums creates too much noise in your results and at times leads to excessive over trading. With weekly goals, your equity curve is smoother, imo.

    That being said, my "minimum" goal is 100 pips a week and it has produced steady results.
     
  7. I have another key rule... I don't take a trade unless I think it has a shot at more than 20 pips. No overtrading...

    Unless you have a plan on how much to make you don't make enough money is my experience. Got to have set goals and a set business plan!
     
  8. eurojack

    eurojack

    Leverage is the key to, not the number of units. If I trade $100/unit I only need 100units/month to keep me extremely happy in life.
     
  9. 60 a 80 pips a day average, just sounds too good to be true, at lest as a long term average.
     
  10. well, don't forget you have to take time off to serve humanity doing things like creating ads
     
    #10     Aug 19, 2012