Hi guys.
I would like to ask a silly question. What do you guys consider a profitable days trade? Is a $100 a day a profitable trade? Is it a achievable trade? Would love to hear from you guys.
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“$100 a day” to you may be life-changing.
“$100 a day” to me is a mid-priced lunch.
It’s nearly impossible to talk in absolutes regarding anything on trading. It’s almost always subjective and incredibly contextual.
You should instead try and focus on percentage returns, in relation to you sharpe ratio and drawdown analysis.
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Thanks for the input
Yes $100 is a great trade. But its hard to make $100 every day in reality.
Stop thinking in such limited terms.
Setting a daily target in any terms is just piling too much pressure in yourself. You do not have to make a profit every day to be a profitable trader. Look at a month, 3 months, a year to judge whether you are a profitable trader.
Start thinking about profits in terms of percentage growth of your account capital. Remember you only need to make 6% profit per month in order to double your money in 1 year. And if you can double your money in one year, you are going to be wealthy.
Yes you are right. The problem is a lot of traders are undercapitalized. They start with a $100 account and blow the account because of overleveraging and lot size. I personally only trade 1 pair on my demo account. The problem I experience is conflicting indicators, oscillators etc. I use the sar, adx and a moving average of 60. I get mixed signals and then try to look at news to see which signal is following the news. I know that is not right what I am doing. Is there perhaps a indicator/s that you can suggest that helps in the market. I would appreciate any feed back. Thank you.
Personally I don’t look at the money, and not by how much you make each day, my approach is at the beginning of the month I set a target profit on trading sheet, an example is £400/20% of my bank in my case, then on my trading sheet (Excel) I enter that figure, in the next box I enter what I am up at the end of the day, then it automatically calculates what my profit (or could be loss), luckily I’m usually up, from this you can see, hopefully the target amount diminishing as you go through the trading, It allows me to stick to my trading plan, otherwise greed can kick in, money profits for me is too simple, it can evoke too many emotions when trades go against you.
1 cent is a profitable day but it may not be a comfortable or worthwhile one.
If you delete all indicators and watch price you will be better off as price tells you everything you need to know.
Indicators are simply calculations on price action that is in the past. You want to know what is the future. When you place trade, what are your expectations? All you need to know where price has been and what level is likely to reach next. Indicator won’t tell you that.
On topic: It depends on your trading style, risk management etc. Will you stop trading when you make $200 first hour?
Whats the difference between a candlestick/pattern signal and projecting a forward price movement supported by something like a dual STOCH momentum indicator (which, in and of itself creates highly reliable signals- just like price action analysis)?
The only differences I can think of is, it’s not available on mobile MT4 so you are glued to PC and you have to study “dual stochastic momentum indicator” where we all know that it will provide false signals from time to time like any other indicator regardless if it’s single dual or even triple. Plain price action is just price action and you won’t go wrong with that. You move to another platform in the future where your system simply won’t work because it depends on indicator that is either not available in new platform or is working somehow differently.
So that is solely a functional difference- how about the application of the indicator in terms of reading price action?
So, “plain price action” doesn’t ever lead to an individual receiving a false signal?
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Far less. Depends how you look at it.
Why do you want to use reading glasses to read when your eyesight is perfectly fine for reading?
1 cent - will do me ! - If I happen to make $200 - means I probably had several trades that day. And Luck was on my side 
1 Cent - means I got out of a bad position with my Arse intact !
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Thanks for proving my point(s) 
This is the crux of my argument. You’re original post speaks in absolute terms- as if there is no context or subjectivity to this.
Lol that is true
Day trading is a trading system that consists of opening and closing trades in the same day. This type of trading can be practised in any market, but is most frequently applied to the Forex, stock- and index markets.Therefore, these traders prefer liquid markets such as the currency, stocks- or index markets.
I can’t allocate a specific day on which to trade better than on any other. I try to trade on different days.
A large pullback can foreshadow a broken market structure and it provides first indications of losing trend strength. Finally, price failed to make lower lows altogether which had been foreshadowed by the increasing size of pullbacks against the downtrend.
I think one should not over leverage their account as it increases risks. Rest it depends on your trading style, strategy, risk management and trading plan.