How Can I Get 50 pips per day? (and is it even possible?)

Some forex traders want to get 50 or more pips per day out of the market. 

I think that targeting a certain number of pips per trading day is unrealistic. 

As a professional trader, I don't trade with X number of pips in mind. 

Why?

Because I know that the markets do not move predictably. So, I can't bet on a specific number of pips per trading day. 

The number of pips you can make in a day depends on your individual goals and strategy. Some traders aim for big profits by taking opportunities with position trades. Others scalp and try to make frequent small profits.

As we know, not all trades yield positive results. Therefore, if you try to meet unrealistic expectations by setting daily pip targets, you are doomed to fail. 

It is better to trade more when your strategy works well and trade less when it fails.

Focus on what's more important: creating a winning strategy! 

The more pips you try to achieve per trade, the lower the win rate will be. Conversely, if you bet on fewer pips per trade, your win rate will usually increase.

If you scalp, you can make significant profits even with 3-6 pips on average. 

But you will succeed only if you know how to scalp the market with a profitable strategy. 

So, you need to have a plan.

The biggest mistake that the majority of traders make (unknowingly) is “revenge trading”. Because they have set a certain target, after a few losing trades, they try to reach their pip quota with a "revenge trade". This is one big trade that is intended to fix the losses and save the day.

You can predict the outcome....

All this is of course the result of fixed goals.

And of negating the market situation. 

Some days you can get 200 pips. But there are also days when you can't get anything.

So, the real work is to recognize what type of day it is. 

Can you make money today (because the market is perfectly in line with your strategy), or are you better off walking the dog?

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