Hi.
Just wondered if anyone has any tips on how to achieve consistently 3ish pips a day?
Thanks
Not worth it bro. 3 pips would rely heavily on leverage to make profitable. Something like 90:1. What happens when you lose?
And you have to consider the spread and commisions, too. Depending on the pair and your Broker, you may quickly be at 5 pips or more.
Thanks for your replies guys. Ok so the 3 pips idea seems like a bit of a non starter. Any other ideas how I could make consistent amount of pips even if a relatively small amount?
Thanks
Hi,
3 pips 3 day [U]consistently[/U] is not possible. Except you can see the future. I tried a similar setup some years ago and failed.
It’s really simple: We are using indicators to classify the market condition. With your indicators you get a probabillity of your trade and maybe a risk/reward ratio. If you want to get only a few pips, you have to trade with a high leverage and only some minutes per trade. In this short timeframes you will see very much noise on your chart and your indicators will be useless. Without indicators and can’t classify the market condition and get only 50% probability for an upmove or downmove. And the spread will empty your account.
I tried it with 10 pips per trade up or down - without success.