Consistent 10 pips a day, easy?
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  1. #1
    pipsodent is offline Junior Member
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    Default Consistent 10 pips a day, easy?

    hello, I just want some assurance, is it easy and very much possible to make consistent 10 pips per day? I believe there will be some losing days, but on average is it easy to make 10 pips per day?

    I guess I'm fine if I can consistently make 10 pips per day. Or 50 pips a week.

    But the question is, is it possible to do it consistently?

  2. #2
    kockneerebel's Avatar
    kockneerebel is offline Superior Master Contributor and Member
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    Quote Originally Posted by pipsodent View Post
    hello, I just want some assurance, is it easy and very much possible to make consistent 10 pips per day? I believe there will be some losing days, but on average is it easy to make 10 pips per day?

    I guess I'm fine if I can consistently make 10 pips per day. Or 50 pips a week.

    But the question is, is it possible to do it consistently?
    Absolutley no assurance of any success.
    is it easy ? for some yes
    is it possible ?again for some yes
    can it be done consistantly ? depends on the trader
    Would I bother for 10 pips a day? not a chance and nor should you.
    " Pips aren't roses, they don't grow on bull**** "

  3. #3
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    Marcell30 is offline Newbie
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    Quote Originally Posted by pipsodent View Post
    hello, I just want some assurance, is it easy and very much possible to make consistent 10 pips per day? I believe there will be some losing days, but on average is it easy to make 10 pips per day?

    I guess I'm fine if I can consistently make 10 pips per day. Or 50 pips a week.

    But the question is, is it possible to do it consistently?
    Do not fool yourself into beliving that anything is consistent in the market. The nature of market is that it is NOT consistent.

    First, you have to find yourself an approach which gives you an advantage over the market, which is not that easy, then you have to stick to your plan.

    If you ask if you can make 10 pips every day, the answer i no! The problem with a goal for 10 pips a day is that one looser will eat in on all your gain from several trades, if you do not have some sort of a system to follow.

  4. #4
    this barb is offline Superior Master Contributor and Member
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    Quote Originally Posted by Marcell30 View Post
    If you ask if you can make 10 pips every day, the answer i no! The problem with a goal for 10 pips a day is that one looser will eat in on all your gain from several trades, if you do not have some sort of a system to follow.
    Why is that? If your risk:ratio is good, there is no way a single losing trade could eat profits of more than 1 winning trade.

  5. #5
    ruilima22's Avatar
    ruilima22 is offline FX-Men Honorary Member
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    10 pips a day is not that easy, because you need to have a very small SL or a very bad RR ratio. and the both things are account killers

  6. #6
    this barb is offline Superior Master Contributor and Member
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    Quote Originally Posted by ruilima22 View Post
    10 pips a day is not that easy, because you need to have a very small SL or a very bad RR ratio. and the both things are account killers
    That would depend on the time frame. 5 pip stop loss on a 1 minute chart is acceptable, imo.

  7. #7
    ruilima22's Avatar
    ruilima22 is offline FX-Men Honorary Member
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    Quote Originally Posted by this barb View Post
    That would depend on the time frame. 5 pip stop loss on a 1 minute chart is acceptable, imo.
    try it and you´ll see.

    i use 5min charts to enter my trades and sometimes 1 min chart but i´ve never use a SL lower than 10 pips with good results.

  8. #8
    pipsodent is offline Junior Member
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    what if a system with 10 pip limit and 15 pip stop loss. Is this feasible?

    But if that system has 60% win/loss ratio, then it may just work isn't it?

    By the way, I don't seem to get it, does the limit have to be much larger than the stop loss?

  9. #9
    this barb is offline Superior Master Contributor and Member
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    Quote Originally Posted by pipsodent View Post
    what if a system with 10 pip limit and 15 pip stop loss. Is this feasible?

    But if that system has 60% win/loss ratio, then it may just work isn't it?

    By the way, I don't seem to get it, does the limit have to be much larger than the stop loss?
    If your system wins 60% of the time, that means in 100 trades, you won 60 of them at +15 pips each, and lost 40 of them at -10 pips each.

    60 x 15 = 900
    40 x 10 = 400

    900 - 400 = +500 pips

    If you're good at reading candles, you could have definitely increased your profit margin by a metric ton.

  10. #10
    Marcell30's Avatar
    Marcell30 is offline Newbie
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    Quote Originally Posted by this barb View Post
    Why is that? If your risk:ratio is good, there is no way a single losing trade could eat profits of more than 1 winning trade.
    What I wrote was that one single trade would wipe out the gain from several trades if you do not have a system, and follow it. And a system which returns a consistent 10 pips pr. day, without getting faked out a lot of times during the day, is really not easy to find. How will the 10 pips gain per day look like?

    Is it one time 10?
    Or one time 100 - one time 90?
    Or one time 40 - one time 30?

    If it is the first then you would have to use stops at 5 pips - how many times would you then be stopped out during the day?

    If you settel for 10 pips when they are there, because it is the goal, how will you then cope with a multi day drawdown period?

    All what I am saying is that it is not that simple, and I think that pipsodent is in a better position if he knows that.

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