Unfortunately, I have zero skills. I’m not really looking forward to learn how to trade…I’m just interested on learning what forex is all about
My threads will be sufficient on that front. However, your friend isn’t in luck. I trade only mine or family capital.
How do you determine the best pairs to trade for the day? I use strong weak analysis myself, but you can tell us your strategy if you don’t mind
Not really I target about 800-1500 pips a day but i take little volume coz haven’t finished learning
I have go to pairs where my win ratio is high, especially EURUSD and Gold. But if you note recent Geopolitical events have made the pairs quite shaky. My strategy is based on price action (discussion will be threads 5 onward).
Apart from the named I have minors that I run to when things get crazy/unpredictable on majors.
Ghasia hii +300 pips qualifies you as a pro/5% :nter!
Yes i have heard of him plus another chap called ref wayne, guy is a pro does even webinars in cuba.
Does he have any videos of live trading[SIZE=1](Other than flossing videos)[/SIZE]?
Following closely… Keep them coming.
He has written a book ‘The art of Trading’ you can search him on fb or twitter en may be order the book
Hehe…i highly doubt this 1000 pips daily. You cannot achieve those numbers unless you are scalping and have alot of capital or trading with small lots on several random pairs. All the same it is ill adviced. Small large wins are perfect. Several short term scalps are also good like a friend of mine who utilizes futures data.
How do you profit scalping? What about the cost of the trade-2 sided. I would think this wipes your winning scalps. Plus slippage.
good insights…forrowing crosery
The scalpers I know monitor price closely. Once their positions register acceptable/predetermined $profit they close them. They open 20-50 positions to benefit from small moves.
Pips does not have effect on trading capital. You can get any number of pips a day. The size/volume of trade is the one that you compare with your trading balance. Anyone can make any number of pips a day what makes differance on income is the volume. I can trade with 0.1 volume another person trades with 1.0. We both get 1000 pips but the guy who did 1.0 would have risked 10times than me. If profitable i with 0.1 will get 100$ while the other guy will get 1000$.
Hope you get the difference between pip and volume of trade
Anajua. Huyo ni trader mwenzetu. What I suspect his opinion is, making the 1000 pips consistently on a daily basis isn’t a walk in the park.
Mbona watu hupenda kuongea uongo hivi. Do you realize that 800 pips is a movement from 1.2050 to 1.2850 on EURUSD, a move that can take several weeks to several months.!!
Now you want to tell us that you scalp such an amount everyday? Now how many positions of 5-20 pips do you open everyday? (If you are targeting above 20 pips, that’s no longer scalping)
Now, 800 pips a day equals 16000 pips every month! Or simply put, 160% return per month on leverage 1:1, 320% monthly return on leverage 2:1 etc
I don’t know whether mimi ndio sielewi hii maneno, but this up here is total BULLCRAP.
Oh, and I almost forgot the spread. Your 10-pip scalps means 80 profitable trades every single day! Which means you have to make 80*2 pips on average in spreads alone every fukcing day. Now this brings our juicy story to 800+160=960 pips per day.
Tafuta watu wa kudanganya
Thats true. I said i target. Sometime you loose sometime you fail to hit the target sometime you get. What matters is important is that you ensure you atleast win more than you loose. I can get 800 a day or even loose 400 a day
By the way i trade lot size of between 0.05 to 0.1 thats between 4000 to 8000ksh IF i attain my target and if i dont loose. But as a trader tou know loosing is part of the deal
@Barueri let me rescue a fella. At 10 positions of 10 pips on each pair for 10 pairs you have 1000 pips. Is it exhausting? You bet. How about loosing? He answered that one.
Personally I swing trade and with 200-300 pips a week, I am in profit.