Thread: The Spread and Profit?

Hello. If the spread is two pips does this mean I want to target 3 pips in order to create a profit? Thanks.

Originally Posted by ;

targeting 3 pips on a 2 pip spread is crazy just for the simple fact that spread is constantly changing on most brokers. So your 1 pip profit, would be cut down if the spread increases even by the smallest amount. And lets not mention what 1 reduction would do to your account and the job that will be required to simply recover from this 1 reduction. . .depending in your stop loss, but whatever you choose, I am willing to bet you'd require a success rate of close to 99.99% to become profitable...: / take the pipsology course, it's a free...

LOL, I know..most scalpers or the ones who come online generally set higher pip targets, not much, but more than the three pip mark for the very same reason..and given the eighteen hour day trading session scalping, one could think..nm

I have 18 hours a day.

Originally Posted by ;

Hello. If the spread is two pips does this mean I need to goal 3 pips in order to make a profit? Thanks.

yes is your answer

Thank you.

Originally Posted by ;

Hello. If the spread is 2 pips does that mean I need to target 3 pips in order to make a profit? Thanks.

That might depend on how much you're risking to acquire these three pips.

Originally Posted by ;

Hello. If the spread is 2 pips does that mean I need to goal 3 pips in order to produce a profit? Thanks.

Okay am assuming that you're completely green in Forex Trading and it might do you a world of good to do some online courses and get the fundamentals right. There are numerous online courses a few free others require payment but you can start with the free ones to your own level.
Now, the Answer is Yes and NO, sorry for compliing. The reason is when placing the order, things could change along with the 3 pips goal turnout to be something like 1 or 2 pips. It's Forex world after all. When utilizing live account, delays in executing order could cause a change in price. Because of this, it's better to allow a larger room for profits, such as 10 pips, and also perhaps a stop loss at 5 pips. However, as I mentioned, this is a lesson for another day once you get up and running on your trading activity. Before beginning First seek knowledge in the subject.

Originally Posted by ;

I have 18 hours every day.

Firstly, no one answer no with this particular question.
And secondly, 18 hours a day ? What kind of trading platform do you use here.
18 hours commerce, that's epic hour to scalp trader.

Originally Posted by ;

I've 18 hours every day.

Either you are an automaton or someone who just cant go to sleep at all..Jokes aside, eighteen hours and all of that, simply to scalp??
Would not you be better of as a swing trader? Or even as a person who utilizes fundamentals to trade?

Originally Posted by ;

I've 18 hours every day to scalp.

My perception is you do not really trade for 18 hrs per day making those micro earnings, but rather 18 hrs to get in and out as frequently as you can.

Scalping for 18 hours daily assuming a max of 15 minute each transaction that results into a huge 72 trades each day, only a system can do that, but you never know really.