I just opened up a demo account a few weeks ago. After tweaking my indicators. I now use MACD, RSI, and 3 different EMAs. I have been able to make 200+ pips straight for the past 5 days. Today is the 6th day since I have switched indicators from Ichichimoko Kinko Hyo to the indicators I use now. Unforunately I’m haven’t made a profit today but instead am losing 85 pips if I were to close my position now, early in the day I was gaining on this position but I was not home to close the trade…my maximum pip loss was 370 pips but I held it out and now am only losing 85 pips. The failure to secure my profit was due to me having had a Doctor’s appointment today which took 3 hours. If I was at home in front of my Computer I could have secured a 150 pip gain.
I usually make between 150-300 pips on a trade and trade at least once a day.
I’m assuming a pip for USD/JPY is 0.001 as USD/JPY is traded to 3 decimal places.
Why is it people say making 60 pips a week is consistently is hard?
Is consistently making 100 pips a day trading USD/JPY possible?
Time for a wake up call… Your numbers are WAY off.
The U/J rarely moves 300 pips in a day. You’ve made 15 to 30 pips.
Assuming is a bad thing. No, with the the U/J the pips are only the first two numbers to the right of the decimal. a .01 movement is one pip. NOT .001. And a .100 movement is TEN pips, not one hundred.
6 pips a week is NOT too hard. 60? come see us in a couple weeks.
10 pips a day consistently for someone that barely has their feet wet will suddenly become almost impossible.
Glad you explained it as mine would have been much shorter Master Tang. Additionally to the OP, possibility and probability are two different things. Some may struggle with 60 pips per week consistently which means they have a long way to go while other easily make 60 pips per day or better.
It all depends on your skill level, but since you made some very basic mistakes here you may not want to trade until you familiarize yourself a bit better with the basics of trading.
It may be possible or impossible it is up to your skill. You can make more than 100 or some times less than it. We can not fget exact results every day . It is a beauty of this business that we gain unexpected profits some times and loose also , it makes us motivating .
Yes of course it is possible and to earn 100pips aday but it requires proper trading plan and strategies so that trader will be able to achieve this target.
Unfortunately I highly doubt any trader in the history of trading has ever ever made positive pips every day - regardless of their trading strategy. This doesn’t mean you can’t be profitable, but losses are an integral part of trading. The sooner you (not directed at you) come to terms with this the better.
No, I want you to prove it with at least three years of stats, preferably five years. I’ve seen many people in this forum make pips every day for even over a month. But I still firmly agree and would go as far to state that it can not be done day in day out from a retail account.
Why 5 yrs,why not set an impossible task of 50yrs? C’mon 17 positive days out of 20 over a month is a good start yes? Realtime WALKFORWARD, no backstesting historical BS. starting tuesday…be great fun :32:
Definitely, i’m not doubting that you’ve done a great job, and that wasn’t what provoked my reply. It was however that there WILL be days when you end in negative pips, losses are part of the game! From a trade management point of view which has not been touched upon you can finish a trading day with negative pips but your daily account is showing a profit.
I firmly agree with my original comment that you can NOT make pips day in day out (mon-fri) for every week of the year. Time for a wake up call if you disagree with this.
Just think of the logic if you disagree with this…
Ending the day positive 4 out of 5 days per week is “making pips day in and day out”, would you agree? Are you a long term swing trader…hold over days even weeks?? Have you ever scalped 10 pis or so/trade??
quit mincing words…4 out of 5 days or better yet 17 out 20 is ummmmm…“everyday” in context of reality and common sense. is every trade a winner of course not…