ideal for most day traders. Every successful forex day trader manages their risk; it is one of, if not the, most crucial elements of profitability. I would have to respectfully and with humility disagree with the achievement of 30 pips per day to have "god" status bestowed upon a trader. Or if a really successful forex trader can prove to me that he achieves those kinds of forex profits per month, I also would not hesitate to let him trade my money using a system called Mt4 Trade Copying. So the real question is: are these types of profits achievable? Risk is managed using a stop loss order, which will be discussed in the Scenario sections below. For this scenario, a stop loss order is placed 5 pips away from the entry price, and a target is placed 8 pips away. Read Day Trading vs Swing Trading-Which Is Better?
I am trying to figure out what my target should be monthly for my return on capital and what figures are realistic. Will look to hold trades 4-15 days or as analysis dictates. I will trade as i see fit.
Some weeks there will be no trades. 10 is too much per trade but its the only way i will make 20 per month i figure. Its risky but im going the whole hog. Im getting older and have to take the risk now. The average per month 10-15 is most convenient, but you should aware that the market almost seasonal trends (Yearly) by other meaning the market movements 20 -30 of time Impulse waves and 80 -70 sideway, hence it will impact to your profit differenceis between month.
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Read Forex Trading Training (8 things TO know first) Now, if you think forex trading is going to be like that, you need to jump into a pool of ice cold water so that would freeze your manhood up so you will start to think. You risk only 2 of you trading account each trade you placed(2,000 risk). This is accomplished by using a stop loss. Instead of trading 1 standard lot, you can be trading 5, 10, 15, or 20 or even 50 lots and this depends on how big your account size. I have : 89 closed positions, a pip P/L.1 pips, this absorbed a 30 pip loss because I chickened out of a trade which eventually came good, but I am overly conservative. This type of account offers the highest annual percent accrued on unused funds, and access to deep liquidity with low floating spreads.
Forex 20 per month