Consistent small profits

Ronnie Eyezarch

Newbie
5 0
Hi I am a new forex trader and confused on the subject of small profit taking.. Is it better to take small profits consistently for example 10 pips per day and make it cumulative at the end of the month or u take each trade independently as it comes?
 

Rambo35

Active member
227 6
Hi I am a new forex trader and confused on the subject of small profit taking.. Is it better to take small profits consistently for example 10 pips per day and make it cumulative at the end of the month or u take each trade independently as it comes?

Only you can answer that for yourself. It depends on you, your strategy and what you accept. Some like to have plenty of trades for just a few pips per trade in profits, others prefer to let their trades run much longer. Determine what you prefer and you will find your answer.
 
M

member275544

0 0
Hi I am a new forex trader and confused on the subject of small profit taking.. Is it better to take small profits consistently for example 10 pips per day and make it cumulative at the end of the month or u take each trade independently as it comes?

You should only be taking small profits, if your risk is also small. Lets say you consistently make 10pips, another 10, another 10 but it takes one losing trade and you lose 30 for example. The two should go hand in hand, ie the profit and the risk
 

Ronnie Eyezarch

Newbie
5 0
Thanks malaguti..I hadnt looked at it in that direction..although my challenge now is if I hold trades for a longer time..they often go against me usually because of maybe a news event or.. and yet if u take the small profits and get out then some of the fundamental reports may not negatively affect you..so should I check fx factory for any fundamental reports comming out before I place my trades..even when the technical analysis shows a good entry signal? Please guide..
 

ubertraader

Junior member
25 0
I think the point is to build confidence on positive multiple results.

Once achieved, you know you can trust both yourself and your system.
 

neil

Legendary member
5,167 747
Hi I am a new forex trader and confused on the subject of small profit taking.. Is it better to take small profits consistently for example 10 pips per day and make it cumulative at the end of the month or u take each trade independently as it comes?
But you are a coach/trainer ( Your VENDOR badge) = you should know the answer before offering to coach?
 

Ronnie Eyezarch

Newbie
5 0
aaaa thanx neil sorry probably the coach box must have been erroneous..and on the other hand the best teacher is one who choses to add to his knowledge and not sit back and think he knows it all.. what he knows might be old knowledge..secondly your post could be based on an assumption that all coaches Know it all which is not factual... i bet this forum is meant to add to every traders knowledge..lets be helpful and not focus on issues that don't help novice traders... but thanks for the concern,, will change that
 

the hare

Senior member
2,949 1,283
But you are a coach/trainer ( Your VENDOR badge) = you should know the answer before offering to coach?

Well not everyone who has a vendor badge is a vendor in the commonly accepted sense of the word.

Its all a bit confusing

:LOL:

Of course there are some vendors (like me) who are more equal than other vendors in that we have special rights and privileges not normally afforded to other vendors.

Definitely very confusing :LOL:

I see my badge of Shame has been removed now, about bloody time too !
 

neil

Legendary member
5,167 747
aaaa thanx neil sorry probably the coach box must have been erroneous..and on the other hand the best teacher is one who choses to add to his knowledge and not sit back and think he knows it all.. what he knows might be old knowledge..secondly your post could be based on an assumption that all coaches Know it all which is not factual... i bet this forum is meant to add to every traders knowledge..lets be helpful and not focus on issues that don't help novice traders... but thanks for the concern,, will change that

Are you going to remove your confusing Vendor badge -otherwise new people might think you are a trading coach who has learnt his trade befor teaching others?

Mods - what do you think ?
 

perox

Member
87 0
Hi I am a new forex trader and confused on the subject of small profit taking.. Is it better to take small profits consistently for example 10 pips per day and make it cumulative at the end of the month or u take each trade independently as it comes?

I think you may be interested in scalping. Yeah if you get the things right you can be a consistent trader even with 10 pips per day. You can increase the lot when the time moves on and that means even with 10 pips you still getting good profit. I think money management plays an important role here.
 

neil

Legendary member
5,167 747
I think you may be interested in scalping. Yeah if you get the things right you can be a consistent trader even with 10 pips per day. You can increase the lot when the time moves on and that means even with 10 pips you still getting good profit. I think money management plays an important role here.

I give up - A trading Vendor (who should know his subject) asks for trading advice and clowns take him seriously !
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock