20 Pips Per Day Scalping Forex
Updated: Feb 6, 2019
There is an English expression "Take care of the pennies and the pounds will take care of themselves" meaning if you concentrate on making small amounts of money, you will soon amass a large amount. This expression applies perfectly to forex scalping, hitting a small number of consistent pips daily is by far the best way to be profitable as a scalper.
In the hypothetical diagram above we can see that trading at:
1 standard lot at 20 pips/day = $1000/week = $52k/year
0.5 lots at 20 pips/day = $500/week =$26k/year
0.25 lots at 20 pips/day = $250/week = $13k/year
0.15 lots at 20 pips/day = $150/week =$7.8k/year
When trading with for a daily target of 20 Pips, the lot value that is recommended for you to trade at depends on how much money you want to invest with your forex broker.
The lot sizes below work on a stop loss level of 10 pips and risking only 2% of your account per trade. The weekly targets will be as in the diagram above.
Investing $750 you can trade at 0.15 Pips
Investing $1,250 you can trade at 0.25 Pips
Investing $2,500 you can trade at 0.5 Pips
Investing $5,000 you can trade at 1 Pip