Hello traders
i have just entered this crazy world of trading and am looking forward to getting better and better. I was wondering how many trades on average do people place at one time? Because i am still learning the ropes, I am only placing one trade per day.
how do others do it?
looking forward to hearing your tips!
That really depends on you. I don’t think there is just one answer. I trade as many as my trading strategy gives me, but always within my risk profile which is much more important than how many currency pairs your trade.
If you’re still newbie in trading so I suggested to use only one pair for trading and it is better to open 1 position in a time so it will be easier to calculate in your money management and risk management. It is possible to open more than one position if you have proper planning to do that but you should consider the money management which you’re using when you wanted to open more than one position.
To get you going there is nothing wrong with a trade a day strategy. As for how many trades a day an average person would take you need to define an average person.
Hi HenrV
In order to help answer your question you need to define what you deem to be an average person. I expect in your case you are talking of a professional retail trader who trades full time?
Before I give you a few scenarios you need to realise that there are many factors that impact on how many trades are taken and none more so than the strategy itself. The examples below will give you an idea of what a typical day may look like and how many trades are taken.
[B]Day Trader working 0800-1600- Using 15 min chart for entries[/B]
Can take multiple trades throughout the day usually during times of higher volatility eg. London and New York Open. The trader might be looking at several currencies as well as equities and commodities. For this reason they may have several trades all at once.
[B]Day Trader working 0800-1600 - Scalper looking at 5 min Chart[/B]
Shorter term trader who often does not hold onto trades for long and needs to have laser like focus. For this reason they will often analyse several instruments but only trade one at a time. They will open and close several trades throughout the day.
[B]Swing Trader[/B]
The trader will often analyse the markets as a whole looking at longer terms trends, correlations and fundamentals. Many swing traders will trade Forex, equities and commodities all at the same time. The trader will have a few positions open at anyone time but the amount of trades taken is far less.
I must reiterate the above examples are just a generalisation and will vary on many more factors.
Now for yourself moving forward, you must first decide on the type of trading you will be doing. I assume you do not have a trade plan as yet so creating one should be your first priority.
I personally would recommend as you are beginner to trade only one position at a time. If you do want to day trade start with a higher time frame and work down not the other way around. You will find a time frame that you are both comfortable trading with and that suits your personality.
But remember, follow your plan. Let the market come to you, never go chasing trades! If trades present themselves according to your plan, take them! If they don’t sit on the sidelines and wait!
It is better to be out of the market wishing you were in, than in the market wishing you were out!!!
Good Luck
Depends on the strategy and timeframe they trade on. Intraday scalpers may place a lot of trades with small lot, catching short pip fluctuations on 1 or 5M timeframe. News scalpers place 1-2 trade per week (even per month) with big lots also catching for short-term swings but highly predictable ones. This is the exact type of trading I practice on Hotforex last two years.
There are also medium and long-term traders seeking profit from day or week price movements making forecasts on weeks or even months. They place 3-4 traders during a month, have respectable amount of equity to absorb short term fluctuations and keep position in market. This type of traders constitute 10% of overall amount, I guess, because keeping your position open too long (for days or weeks) in forex means subjecting your equity to unreasonable trading risks
I really don’t get your queston, but I think several trades a day is ok. It bases on your trading style, some are scalper can make plenty orders a day but some swinger make a trade last a few days or even week.
the traders who place the most orders make the most $, in an average day I shoot for 400 trades/day, unless the broker limits me to 200. And even if they do, no worries, nothing wrong with a bunch of small profits.
How much of your account margin are you using on average in a given day trading this often?
Sounds impossible to maintain.
thats 7 days worth, 80%+ manual trading, and less than 20% atuomated (bot) trading. its not impossible! and yes this is a live account.
Damn. How much time per day do you spend trading?
This is the guy that goes around talking about “profit factors” with no clue about “time factors”.
He spends a week trading to make $77 - you do the maths please.
And don’t worry, its just one of many demo accounts.
Newbies serious about trading, do not even bother to take this on board. This is pretty much made up BS from someone that trades demos all day.
I commend you on your success. But for a newbie, that doesn’t seem sustainable. You had two consecutive win streaks of 88 trades. That’s ridiculous. 1 loss out off 177 trades. Wowee.
Can you share what time frame this was over? I didn’t notice a timeframe on the image.
In my book a win is a win. If you’re making money and not losing, excellent! But I believe you didn’t start out trading 400 positions at once. Heck I bet you weren’t holding 25 open trades until some time into your trading career.
Thanks for sharing.
It’s not sustainable for anyone.
The question you should be asking is, how many accounts have you blown in your lifetime.
Bearing in mind, this traders account is $1900 down as we speak and may have required a little top up of funds, if ya know what I’ma saying.
This strategy is infamously known as the pray for pips strategy.
Oh, is the trading account public? Can you point me to it? Down $1900 in two weeks is no good.
Thanks!
Down $1,900… almost the same here at one point today, but the tide is turning, and hopefully will continue over night. Ah wait, this is one trade, not an entire account.
Last trade of the year - couldn’t resist
@BaconSandwich $67,567 account Balance… $62,110 margin used… $5040 FREE Margin…
7 lots??? For a current $584 rolling Profit… you have to be kidding… right…
This has to be one of the most irresponsible trading styles I have witnessed on Babypips…
What little credibility you had in these forums is all but gone now my friend…
And the GBP is currently strengthening against the USD… Oh my…
And you call out @rrram2 for torching $1900… your dreaming…
