Hi...
First let me say that I love this forum!
The more I read the different threads about "systems" and methods of trading etc. the more I am getting confused about something.
How many pips is enough?
I read and hear people say things like...
"If you can make 20 pips a day average you will have it made".
Or even 10 pips a day. But why are some people who are trading these systems not happy with 10 or 20 pips a day? It seems like they want it to be 50 or more pips per trading session.
I even catch myself being not real happy when I close one of my trades at 20 pips profit only to see it go on to reach the 100 pip mark. Is this being greedy? If so... then how can I stop being greedy and just be happy with 20 pips a day?
BTW... I mention all of this because I just lost 570 pips of the 700 pips I profited in my first month of trading a live micro account. All 570 pips spread over 4 trades. I know I got greedy.... and I hope I have learned my lesson. Back to the drawing board!
For those experienced traders.... how many pips is enough for you?
First let me say that I love this forum!
The more I read the different threads about "systems" and methods of trading etc. the more I am getting confused about something.
How many pips is enough?
I read and hear people say things like...
"If you can make 20 pips a day average you will have it made".
Or even 10 pips a day. But why are some people who are trading these systems not happy with 10 or 20 pips a day? It seems like they want it to be 50 or more pips per trading session.
I even catch myself being not real happy when I close one of my trades at 20 pips profit only to see it go on to reach the 100 pip mark. Is this being greedy? If so... then how can I stop being greedy and just be happy with 20 pips a day?
BTW... I mention all of this because I just lost 570 pips of the 700 pips I profited in my first month of trading a live micro account. All 570 pips spread over 4 trades. I know I got greedy.... and I hope I have learned my lesson. Back to the drawing board!
For those experienced traders.... how many pips is enough for you?