Hi to all,
Very new very beginner…
I own a 4000$ account and my goal is to make 15-20 euros on daily basis ( i don’t say win every trade of course ) but doing a constant small profit…I live in south east asia and i’m disable without job possibility.
What could be my best timeframe ? 15min - 30min , 1 hour ?
Can i stick with reversal / rivergence if they occur at the small time frame ?
I’de like to have some insighs of you guys…
Have a nice days.
Regards
Don’t use real money yet, practice first in demo mode to see what works
Problem with demo is you go out here without the pressure to loose real money, there’s no psychological worry if you loose a trade. You just said let’s back in but on real money, not only hesitation increase + exit if it goes wrong change and re enter a new trade is also toughter…
How about playing real money but really small amount ?
That’s my thoughs - nothing arrogant …
Thank you
Without being skilled it’s not possible to make 15/20$ per day, though it looks easy. You need to do a lot of practice to find out which time frame you understand the most.
For scalping go for the small timeframe
Scalping is a risky strategy. Every trader should research first before using it.
Gathering knowledge is very important for every new trader.
You should have a trading plan by your side first, and you should test your strategies on demo to see the return it is giving you. Starting right away with 4 grand seems a lot. Trade on demo with the same amount, see how well you do and then start trading on live. You should have in depth understanding of forex before trading anything. Otherwise, you will end up losing this hard earned money.
I don’t know if $4k is a lot. If you cannot afford to lose it, then it’s a lot.
I say trade the smallest lots possible.
It’s important to trade live after demo trading. I say don’t trade demo for too long. Once you get comfortable with your strategy, I say trade the smallest lot possible on a live account.
Losing real cash will teach you a lesson that demo can’t. The pain is different.
That pain will make you want to learn from your mistakes.
That’s my opinion.
1H timeframe is good for your goal. Just keep in mind that you have to have strict risk control (if you start to lose don’t exceed the daily drawdown limit) and when you trade in profit don’t become greedy. Try to maintain stable growth of equity curve, the less volatility of returns the better
I was going to say, maybe try a higher time frame. If you’re new, start with the daily timeframe. And then as you get more experience, maybe that 20 euros can become a reality.
But honestly, I think you should focus on learning and getting more trades under your belt, and then just being profitable. Go from there.
Not possible. Especially since you said you’re a beginner. Start with a $500 account first using 1D time frame. 
You should start with a smaller amount since you are a beginner. I feel that $4000 will be too much to start with. You should try 30 mins and 1-hour timeframe on the demo account first to check what works best for you.
It is very difficult to make 15-20 euros on a daily basis without having proper knowledge and practice. Do not jump to live trading directly without practice, yes it is hard to connect the real emotions with a demo account but still you need to practice on demo before going to a live account in order to save your money.
If you are a beginner then your goal should be to minimize losses and not to maximize the profits, because there is no perfect strategy and there is no perfect trader. So do practice on demo as everyone has suggested and try to be on a positive side at the end of the week or month. If you will learn to minimize the losses then the profits will eventually fall on your plate.
Agree. What I did was trade with 100 units and go up once you are 10 trades in profit. Then 200 units until you have a clue what is going on.
well thats amazing and if you can earn this much it will be too good
Lets do a small breakdown on the possibility of earning 15 - 20 euro a trade.
You have a 4k balance. That would be a 0.5% average daily increase of your account.
I’m going to assume you will follow proper risk management and risk 1% of your account per trade. That gives you a 40 euro risk per trade.
If you take a reward to risk ratio of 2/1, for every 40 euro that you risk, you stand to win 80.
I’m going to assume that you have a strategy. Lets say in a week, you take 10 trades, and you win 4 and lose 6 for a win rate of 40% (in real trading strategy, we will need a larger span of trades to get the correct win rate).
Wins: 4 x 80 = 320 euro
Losses: 6 x 40= 240 euro
Net = 80 Euro
That would give you an average profit of 16 euro a day over the week of trading.
With your account balance, yes it is possible to earn your target over a period of time. Is it recommended to start on this? If you are a beginner, then its better to start on demo and refine a strategy that you can test first before diving head first. A lot plays into trade, especially trading psychology.
Being able to use correct risk management will also help improve your chances of success, but it is not so easy to stay disciplined sometimes, after all, we are humans, we make mistakes.
With that being said, I wish you luck with your journey.
I think, that this question cannot be answered.
My feeling from how the post is written, is that you don’t have much of an idea for a strategy (or trading expectations in general).
IF you have a strategy, you’ve probably tested it, (backtested, forward tested) and have some facts under your belt. So this is question to you - is your strategy allows you to get 0.5% per day on average?
If you don’t know - get back to the drawing board and check. If your question is WHAT strategy will give you 0.5% per day - I dare to say, that noone here knows (this would mean consistent ~330% per year)