Hello Guys,
I am quite a newbie in the trading world
I started trading on 15 min chart and i want a suggestion
Do you guys think that 200 pip for tp an sl on 15 min chart are to much?
Like i heard that level of pips on the daily chart.
For example this is a trade i took this morning
Welcome!
It depends on the volatility, and on your trading plan, and on what produces good results for you.
It doesn’t help to think of things like this in terms of a “number of pips”.
The size of your TP and SL look ok to me, but I don’t understand the reason for the entry (of course, because I don’t know what your method is!).
Thanks very much 
I enter that coz i got a signal but it is not going in that direction
https://www.trendfollowingsystem.com/15-min-strategy/?utm_content=cmp-true#google_vignette ( iam following this strategy )
I think i will do a little more backtesting to see for how much i need to keep the trade open
Can you give basic information such as equity, which symbol and etc?
I think what you need to ask yourself is how long do I wanted to hold this position. Do I swing it for days before it reaches my TP? or do I expect it to reach in 1 session/day?
I have like 100€ and for symbol i am in like for all major pairs.
But i would like to think besides of that
In the end i am more on 1 session/day so i want to close the positions before 6pm.
As of now i decided to put it on 100 pips and icrement the lot size.
let’s see how this way is going
Okay great. On the weekend, when you have the time, you can study how many pips travel in 1 day for the currency pair that you’re trading also because not all pairs could easily achieve 100 pips in 1 day. Just measure it so that you can have a realistic expectation. You can easily measure this using ATR also but I prefer measure manually.
Download the ATR and set up the previous average 10 days of price movement, so it reads as ATR10. And the average price daily movement on GBP/USD on the 15m chart is mostly no greater than 0.00050. The 30m chart is close to 0.00096,and the 1Hr chart is closer to 0.00292.
So 200 pips per day is unlikely on the 15m time frame. IMO the I hr TF is ideal for for a lower trade set up, providing it is trending the same as the Daily T/F. and this is why daily traders usually choose the Daily or 4hr T/F for their longer trades. 15m is for scalpers.
However, this is for FX major and minor currency pairs only.
In my opinion, you’ve chosen a very wide range for 15 minutes. Plus, I think having a target of 200 pip is too high. The likelihood of incurring losses is high. This also reduces the profit potential. In my opinion, trading with a 2-3% ratio of the amount you’ve deposited using mini lots and setting your pip expectation based on the amount of the trade would be better.
