Hi All,
I would like to know if expecting to win 1 percent (on average) of my capital every single day scalping the eur/usd is a realistic objective or not ?
Thank you
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Hi, dont get me wrong it can be done but is not a realistic aim. It requires a lot of knowledge, a profitable strategy, good risk management and you need to be able to control your emotions.
Nothing has more liquidity or narrower spreads than EUR/USD. However, this brings in the major players, so trends are often hesitant and liable to reverse suddenly and dramatically, especially on short intra-day time-frames.
There are easier pairs to trade intra-day.
However, 1% per day profit is an incredibly ambitious target. This represents 1,100% per year compounded profit. Has anyone ever even heard of such an achievement?
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If you can lose 1% per day, you can also make 1% per day. It’s realistic but on the other hand, do you have what it takes? Have you tried making 1% a day on demo and achieved your aim?
I really don’t encourage people to scalp except you are very disciplined and can make quick and rational decisions in a short period. Ask yourself: can you face the psychological challenges of scalping? If not, your greed can cause you emotional pain.
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I’ve been backtesting a scalp strategy all day and you are right it is hard. Swing trading is much easier, but I’m going to stick with it.
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Thilam
I agree with tradeforex077 and will add a few more comments. Every article, book, etc. tells you that the main focus in trading is to concentrate on what you are doing. If you are diligent and spend a lot of time researching different systems, setups, etc. the money will follow you. Just remember patience is the key to success.
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It depends on your scalping skills. If you’re good at scalping, I don’t see why 1% should be a problem.
Let’s say you have an account size of $1,000. 1% of that is $10. If you use a lot size of 10K then you need only a single trade of 10 pips to make that 1%. However, recouping losses in order to average 1% a day could prove cumbersome if you have a low win rate or if you risk too much per trade.
Have you calculated your scalping win rate and average pips won/lost as yet? That should give you a ballpark estimate to your own question.
Actually I’ve been trading Forex for almost one year now. I’ve never been able to get to close to win 1% a day scalping the eur/usd. That’s why I wonder if it is even possible.
I read books, attended seminars, watched Youtube channels et more importantly I practice daily.
How much time is needed to be able to be profitable in the Forex market ?
An average 1% profit per day for even just a month is an incredibly ambitious target. Maintaining this consistency would be fabulous (I mean - literally - the stuff of fables).
However, length of time trading is not the indicator of success in trading, or at least not increasing success, like it is in any other profession. That’s actually meant as some consolation - ignore the advice that you will need 10,000 hours of active trading to succeed. All you need is one consistent strategy and the determination to follow it.
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It’s not merely a matter of time. There are traders who are at this for decades and have not found profitability. It’s just a matter of finding the right methodology and formulating a strategy that works for you.
Would you please tell me what your strategy is and exactly how you come up with your entries, SLs and exits? A few charts with annotations will help too. Perhaps I can point you in the right direction.
Basically I trade with Ichimoku only and I wait for the prices to cross the kijun (blue line on my screenshot). Usually I set the stop loss 40 to 60 pips below my entry point and my take profit to 40 pips
On the screenshot I added some arrows to illustrate where I would entry. Green arrow means I would buy and red arrow means I would enter as a seller.
I also added a red star where the prices crosses several times the kijun -> this is where I lose most of my money
I consider scalping to be 15 pips or less. 40 pips goes beyond my definition of scalping. It looks like you’re essentially day trading. Here are my suggestions for you.
- Consult a higher time frame to obtain direction.
- Execute your trades on a lower time frame but only trade in the direction that you’ve ascertained from the higher time frame.
- Since you’re not really scalping, why not consider swing trading? That way you’re less likely to get caught in the lower time frame chop.
Having said that, I would be remiss if I did not also mention that you should lose your indicators, Ichimoku and all. Learn to read market structure on a naked chart. That will give you the best results. If you master reading market structure then you will also be able to scalp with ease. You can swing trade some pairs and scalp others when you get the itch. 
Take a look at the following YouTube channels:
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Thank you for all this info I will check out the channel and see how I can improve my trading !
Please what are the easy pairs to trade on
The cheapest are those with the narrowest spreads - USD/EUR/GBP/JPY.
The Australasians are silly expensive as they have wider spreads - AUD, NZD.
The Exotics are expensive - RUB, MXN, SEK, NOK etc. etc. - as they have very wide spreads. Their large minimum position sizes also mean I often find a I cannot get a position using a day’s range as entry to stop-loss and still keep my risk within 2% of my account capital.
Best pair to trade is the one that suits your strategy. Honestly, I’m not trying to be smart but there cannot be a literal best, as there are so many different strategies that can be used. Find the strategy first, that will tell you which pairs to trade or avoid.
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Watching who is getting 30% / day average. Max DD < 15%
I made 0.31% today scalping eur/usd 
how exactly do u scalp? still using ichim? and what s ur risk % per trade?people are risking on average 2% per trade, some more, some less…but to make it short, if u know what ur doing 1% per day shouln t be that fabolous imo
Yes still with Ichimoku
I risk 1% per trade max but usually I cut my losses before it hits the stop loss so I lose only 0.5% on a losing trade.
Even with 0.31% I’m more than happy if I could maintain that on the long run it would be wonderfull 
that s not good at all, u can t be risking 1 to make less then half a %. i d suggest losing ichimoku and learn how to scalp.take @QuadPip advice and learn how to and where to postion urself to max ur wins and minim ur losses. u have to know fast when ur wrong, specially when scalping. a 1bar stop might do the trick but learn how and where. cheers