10 pips a day to become rich

The daily set up occurs across the London, New York and even Asian. I think we have four candidates in our sites… no? :smiley: It just suits his global trading base to trade the London daily set ups.

it just seems like shooting for a quick 20 pips a day would be best to do it during the most active time. I could be wrong. I often am LOL

Well just went short on E/J at 114.653… 20 pips will do but shooting for 114.069. :smiley:

I went short on EJ at about 114.26 and about 114.64 for an average of 114.457 take profit is 113.0 (look at the weekly chart) I may close it before that though.

edit:
I may rethink that TP, considering this is Thanksgiving week, may move my take in closer.

Its a moving target… TP now 114.235. :slight_smile:

Changed mine to 114.15 It will drop at least that far.

Good luck Mike… I’ll err on the side of caution… 32 pips will do… as long as it beats Matt’s 20. :D:D:D

daily tunnel looks too narrow but looking at the weekly last weeks low was 112 and the four weeks before that were all lower. I think it will hit my TP. Definately more than this thread’s 10 pips or Matt’s 20 pips. Let’s make a bet? we’ll wager our spare pocket change. :stuck_out_tongue:

hey people

I’ve been looking for a 10 pip a day system for a long time.A system with very few losses…it’s only 10 pips right can’t be that hard.Bought a scam which infuriated me.But because clickbank was the vendor i got my money back guarantee.

And now a new one has come on the block i myself don’t have the money to buy this one because i have my eyes set on a diffrent system.But if you want to make 10 pips a day with very few losses you might be intrested in this system.I just want to make one thing clear i don’t know nothing about this system at all!I’m not recommending it to you i’m only sharing this with you for the benefit of people you might be intrested.

10 pips while I sleep

thanks

I’m just reading Ed Ponsi’s book and he has a chapter at the end of it specifically about trying for 10 pips…and it’s rather bleak…:stuck_out_tongue:

The funny part is that he echos what I keep hearing and have been told such as above…

Trading can be difficult, and in an effort to make it easier, some traders resort to taking very quick exits.

“It’s hard to earn 100 pips,” goes the rationale, “I’ll just try to make 10 pips on each trade.”

It seems to make sense; surely, it is easier to earn 10 pips than it is to earn 50 or 100 pips. The trader seeks to win by playing it safe, which would seem to be a commendable trait in the trading world.

But…it actually makes a traders life more difficult. In order to understand why, he explains a little deeper about game theory.

i agree.I think that capturing those big profits when you get those nice big trending markets makes all the diffrence.The only way that i’ll settle for a 10 pip a day strategy is a really high accuracy rate.Also the risk/reward ratio has to be good as well.

Should i trade a strategy such as this i’d prefer to risk 10 pips for 10 pips or maybe 15 for 10.But without a really good accuracy rate a system that aims for 10 pips just won’t work.I think that a system such as this that has all the requirements i want can be very usefull.You could trade 2 strategy’s at the same time.

Taking 10 pips a day almost every day along with another strategy can make you a lot more profitable…but the system has to have been specifically designed for this.Now the question becomes does the system works?

Playing it safe is just another way of saying i’m letting my fear control me.But as long as you have a very high accuracy rate and good risk/reward ratio there is no reason why you can’t take 10 pips a day.

Take Profit hit. :slight_smile:

How many traders trashing 10 pips a day strategy are profitable traders? Prove it if you are! Point is, 10 pips net profit per day is all you need & most people are scoffing at it. And it does not even have to be a 80% winning strategy much less 100%.

if you’ve got a substantial account, then yes 10 pips is all you need. unfortunately, most people do not have a substantial account to trade with and rely on.

Is this enough to quit a job and do only this for living ? also, do you have some binary options trading platforms suggestions, strategies whatever…I have registered at this binary options platform called Beaned, have deposited and got some nice bonuses…the thing is, I have more than enough to start learning it, but would like some trading tips

Nothing is easy in this world. It takes years of practice before it can be considered enough to quit your job. People do this for a living. Some do it for supplementary reasons.

You should consider using the search function for the newbies thread for binary options. There are great thread to inform you on such things.