Hello! I’m new to Forex and have had a little play around with the charts. I’ve always set my take profit for 5 pips because the chart doesn’t seem to move dramatically… But some people, i’ve seen them showing a change from 100-200 pips! Mad!
Do they do the buy low, sell high thing or what? How would they even succeed in that without risking their money? Are they just really good at reading the charts?
Anyway, aside from that, how many points should I really be aiming for in the first place? If I put £10 down and wait for 5 pips that’s £50 and if I did a few of those a day I think i’d be quite satisfied!
They trade longer time-frames (e.g. daily charts) and hold their trades much longer.
They can have some bigger losses, too, don’t forget.
Not sure quite what you mean, here.
Are you spreadbetting?
The amount you “put down” is represented by the distance between your entry-price and your stop-loss-price multiplied by the pip value. That’s what you can lose, if your trade’s a loser.
If 5 pips is £50, then your pip-value is £10 per pip. I don’t know how you can do that with a risk of only £10???
If we look from another trader trading result which seems very big profit they made, hence only making jealous and might we tempted with these profit, in my opinion making even though 5 pips daily if you can making consistently hence already good trading result, but I think you can`t, another trader might sometime can make growth profit 200 pips but not sure if they can making consistently, so grateful with our trading result is better attitude to avoid greedy
I haven’t completed the whole thing yet. I’ve done over 100 lessons though. I guess what i’m trying to do is figure some things out on my own. I always have so many questions after each page and it becomes frustrating when I can’t figure things out.
Does the rest of the course explain the things i’m asking?
Woah! I’m not that crazy where’d you get two days from? Haha, I joined about a month ago I just have a learning difficulty. Everything else, i’ve unraveled but still struggling with a few things such as margin etc… I do watch a lot of videos though and make notes so i’m almost unraveling it all!
It depends on the strategy they follow. Long term traders usually trade on higher time frame. They hold the trade for few days and even more depending on the situation. But £50 for 5 pips! What’s your lot size and account balance?
It can be quite a complex balancing act. I closed two bets GBPUSD yesterday for 103 and 150 pips resp. Increased account size by 4.3% but I had 55 pip stops. Whereas I know @_bob doubled his account size with less than 100 pips a few months ago !
I just wish I could do the “short-term” stuff profitably - but never have been able to.
Consider reducing your trade size. Then you can risk more pips without having to risk more pounds.
If you trade one micro lot (1,000 units of base currency), then you are risking about 10 cents per pip on most currency pairs (or about 7 pence per pip at the current GBP/USD exchange rate). Therefore, you could risk 200 pips with one micro lot trade, and that would be about £14.
Even with the risk tolerance of £10 you mentioned, you could still risk about 140 pips if you trade only one micro lot.
I just have a learning difficulty. Everything else, i’ve unraveled but still struggling with a few things such as margin etc… I do watch a lot of videos though and make notes so i’m almost unraveling it all! 
