Forex Trading Tips: How You Can Profit At Least 200 Pips Every Week On Forex

Earning 200 pips from the forex market may seem out of reach for most (including you, perhaps) if you haven’t already. This logic is very simple to understand here: if you consider a trader who can average 200 pips from the forex market each week, this type of profit target would no longer be overwhelming for him / her. On the other hand, if you are the type of trader who struggles to earn 50 – 80 pips every week, this 200 pip target may seem like an impossible target (at least for now). However, nothing is difficult or impossible as long as you analyze everything and try to understand the process in a simple way. The same goes for this strategy to make a profit of 200 pips every week.

Let me share the details below:

In forex trading, being “consistent” is really the key to continually being successful month after month for a long time. Nothing beats this fact, I’m sure. So instead of thinking about how to make 200 pips each week, you just have to divide it into 40 pips per day. 40 pips is not only a very achievable target, it is also a “realistic” target. Why do I say that?

Because for almost all currency pairs available to trade, your average daily pip range would be between 100 and 150 pips minimum. So, when you are targeting only 40 pips outside of this range, it is definitely very doable once you understand some of the proven facts that I am sharing here. For this example, let me use the EUR / USD for my explanation of this strategy. This is one of the most traded pairs and the liquidity is definitely good.

Here are some tips to help you secure your 40 pip target with confidence:

1) Always trade in the larger time periods such as 1 hour or 4 hours

By looking at the larger time frames, you are actually looking at the “largest” price projection on the market. Therefore, you are not only seeing more reliable patterns and signals forming on the chart, but it is also not that exhausting after all compared to looking at the 1 minute or 5 minute charts.

2) You should trade with a good “risk / reward” ratio of at least 1.5 times

Currency trading is simply a game of odds after all. As long as you lose less than you earn each time and just rinse and repeat on many trades, you will be in the “positive” profit zone every month. So by applying a risk / reward ratio of 1.5x, you would plan your take profit at 45 pips (applicable for a pair like EUR / USD) each time and stop loss at 30 pips. When you strictly adhere to this ratio, each time you gain 45 pips, but when you lose, it is only 30 pips.

Lose less and win more, that’s what I called it!

3) Learn Forex trading strategies for both the side and trend markets

In the forex market, it is the market that goes sideways (range) OR is trending. And the beauty is that you can definitely get those pips (profits) that you need from both market conditions once you have a few strategies for each different market.

To really put all the odds on your side, it is not good to apply a single strategy to all market conditions, as this way, you would not be obtaining good results in the long term or perhaps only “break-even”. So what you need to do is include good strategies targeting both the side and trending markets in your trading basket. And the best strategies you should use would be based on Price Action itself.

Because?

This is because the price action is not lagging and the “tips” you get from the actual price action market are more reliable most of the time. On the other hand, when you rely too heavily on so-called “textbook technical indicators” you will suffer further confusion and uncertainty as they are generally lagging and not as reliable compared to price action.

Having followed these 3 proven tips, your effort to make 200 pips each week would no longer be a challenge. You would definitely take some losses, but if you trade only 2 times a day (using TP 45 pips and SL 30 pips) and your strategies are only 50% accurate, 200 pips at the end of the week is very doable! So if you are interested in adjusting both your mindset and trading skills to earn 200 pips every week, try and familiarize yourself with these 3 rules by using a DEMO account first.

Once you can “consistently” get many 200 repeating pips each week, you can proceed to a live trading account if you wish. 200 pips per week would equal roughly 800 pips per month. Now, do you know how much these types of pips would help increase your account size by risking only 2-3% at a time? I’d say it’s enough to make most traders around the world “envious” once they learn of your success with the forex market.