forex 10 pips
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How many pips should I aim for when learning to trade Forex?
Whats a decent number of pips to earn on a trade? I’ve generally been pulling the plug at 15 which is around 10% of my $250 mini account.
What’s a respectable pip haul for a single trade? I have the self control to not get greedy, but I don’t know where the line is. I also realize I could do a trailing stop, but I feel more comfortable locking in my profit when I have it.
I like the strategy of having a MAP (Minimum Acceptable Profit) objective of 15 pips. You might try a slight modification of this by trading an even number of lots and sell half the lots when you hit your MAP of 15 pips and let the other half ride with a fairly tight trailing stop. This way if you are in an upturn you can go along for the ride knowing that you are already in profit.
I used to use a similar strategy for about 3 years when I was a technical trader. It was actually quite successful but I found myself spending quite a few hours glued to the computer. For the past 6 months I have been enjoying the simplicity and profitability of conservative hedge trading strategies.
If you send me an email I can send you an analysis and you can compare the two trading techniques.
Keep up the good work.
Paul
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