If you're trading a mini lot account, making just 15 pips per day isn't much. It's only $15 US dollars (more or less). That said, the real power is that you can build up your money. You can compound, and that 15 becomes hundreds . . . and then gets even bigger over time.
So the key is how to make 15 pips per day.
Have you tried trading forex? Not so easy, is it?
I mean, sure, entering a trade is simple. Heck, getting a winning trade isn't hard either. The hard part is in getting winning trades most of the time.
Here's the secret. You can't trade one trade each day and expect to win 15 pips per day. Not going to happen.
Instead what you need to do is to figure out how many pips per month that is. (20 days x 15 pips = 300 pips). So, you need to make 300 pips in a months time.
The best way to go about this is to go after 100 pips at a time. That way, you can lose and win several times, but all you need is 3 more winners than losers, and you've achieved your goal of 15 pips.
Of course, the next question is how to go after those 100 pip trades. Here's what I'd do. Just take the Fibonacci tool that comes with any trading program. Use that to find retracements and trade those.
Fibonacci retracements give you large reward for little risk. You should be able to set up a trade that will risk 25 pips to win 100 pips without difficulty.
Click here for more information.
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