You can’t estimate your returns unless you have a profitable strategy. After you’ve refined and polished the strategy as far it can physically go, you can only increase your % return by increasing the % risk per trade; you can only increase your £ return by increasing the amount of £ in your account.
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It seems like your putting the cart before the horse if your making rules without a strategy. Just from experience I can tell you you’re likely to be stopped out of most of your trades. On paper risking 100 bucks to make 200 sounds great, but in the real world it often doesn’t work this way. I’m not trying to bring you down just I would recommend you do a bit more research before trying this with real money.
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Thank you for your reply, I am doing BP course, listening to the audiobooks I mentioned in another post, and will do some demo before live, what else do you recommend?
A 40 pip profit target isn’t really scalping, in my view. If you’re looking to effect a quick in and out then you often won’t get room for a 40 pip profit in one hit. But really, as has already been said on here, I would not think about setting your profit and SL levels until you have established what sort of trader you are, which Pair or Pairs you want to trade, what time of day you will trade, and what your overall strategy is. I think that you’re starting with the wrong bit, sorry.
ST
You are right that was the wrong approach, after a bit of research and analyzing my situation due to 9-5 Job, I believe day trading will best suit my situation as I don’t have much time to go through charts during the day.
Sounds sensible. Much of my trading is EOD, entered via orders placed in the evening, which then either trigger overnight or don’t. Much calmer way of trading, suits my situation!
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Yes, I am now wondering how to create a strategy which enables me to review charts after 9 GMT and place orders.
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I aim for profit $20-$30 a day. Sometimes, I guess I was lucky I let profit run, could hit $50-100 and this could make up the days I don’t trade when I don’t see opportunity.
Why $20 a day? Because it is sufficient to cover basic necessity for the day. I believe in starting, simple and worry free.
Compared to the naive days when I started on my demo account, I had ambitious goals of making $500 a day - that was a very wide dream. .
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Sounds like your on the right track and getting some pretty good advice from other members. If your working 9 to 5 you will need to find a way to do some research or plan the execution in advance. I prefer to do it in real time as market conditions can change quickly and might invalidate the trade idea. If you have a bit of freedom at work you can sneak in a trade here and there, but probably not scalp. I did this for many years so know the feeling of trying to juggle both 
Thanks, I can use my one hour of a break on the computer or can do like 7 GMT which will be around 3 or 4 in US time, I am still confused about how can one research in advance on the weekend as I heard some members for next week.
It’s best to do your planning just before you actually trade, but you can have an idea in your head prior to that. I’ll send you a msg and we can discuss it further.