If you earn 10 pips a day with scalping, etc., you will definitely accumulate money. It will also be a short price range, so the winning rate will be very high. However, in reality, it is difficult because there are many things that do not go well unexpectedly.
Scalping doesn’t work as calculated on paper
It is common knowledge that scalping does not go according to desk calculations. This is not limited to scalping, it is the same for both short and long. The reason is simple, the market is an untouchable existence that no one can control. It’s common for things to go wrong unexpectedly and result in big losses. Therefore, the reality is that 10 pips a day is quite difficult.
Some days I lose
There are days when the 10 pips a day strategy does not work. There are days when I got 10 pips a day, but there are many days when I lose money instead of not getting it. That’s why it’s the difficulty of trading that it’s not quite as calculated. What is required of traders will be the ability to recognize the market. Correct and improve the difference between the plan and the actual result. By going through this PDCA cycle, 10 pips a day will gradually stabilize.
Trade rules matter
Trade rules are important for the 10 pips a day strategy. Trading rules are decisions about where to cut losses and where to take profits. When you lose, you may lose so much that your profits so far fly away. At that time, I get frustrated and sometimes enter with a messed up lot and lose a lot. Therefore, it is important to create and follow rules.
What to do to earn 10 pips
In scalping, there are things you need to do to get 10 pips a day. The points are as follows. Goal settings differ depending on the currency pair and chart. This is because the pips range that you can earn will differ depending on the stocks you need to invest in. As for style, if you’re day trading, it’s best to aim for range prices. Since the line is always clear, the points of losing and winning are clear and you can make good decisions. Be careful not to hold back when managing your funds. If the leverage is too high, your money will disappear quickly. Let’s confirm by simply trading using moving averages etc.
target a range market
When you go to get 10 pips a day in scalping, the aim is when there are not many people and when the market is in a clear range. The range doesn’t move much, so if you sell at the highest price and buy at the lowest price, you can easily get about 10 pips. Therefore, it is more stable to fight in a market where price movements do not occur much.
Source : Tradingview
Forex markets can move unexpectedly. When a trend occurs, it often moves more than 100 pips in a day. When the forecast is off, you will lose a lot if you do not cut the loss accurately. Especially when the market breaks out of a range, the market tends to move greatly, so please do not endure it. If you endure it, the unrealized loss will increase forever.
trial and error
As you can see by actually doing it, the 10 pips a day strategy is very difficult, and there are days when it doesn’t work. In order to hone your trading skills, it is important to study efficiently and determine the timing of entry. First of all, look at the daily and weekly bars, recognize the market price, and then decide when to trade.
Don’t get discouraged even if it becomes negative
The 10 pips a day strategy may become negative depending on the day. If you start with a loss, you tend to feel strongly that you don’t want to end up with a loss, and then make an unreasonable entry. What you can’t do here is breaking the trading rules and increasing the lot. If you do this, you will lose your money.
Exness is for scalping
Exness is for scalping. That’s because the spread is extremely narrow. Therefore, if you like scalping, please register with Exness and start trading. Opening an account is free, so please refer to the article below to open one. If you do scalping a number of times, you will see that it forms a pattern. You can analyze even one minute and see the winning result. Let’s draw a support line while technically analyzing the entry point using an indicator.