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Forex Trading Tips: How You Can Make Profits Of At Least 200 Pips Every Week

Profiting from 200 forex market pips may seem quite out of reach for most (including perhaps yourself) if you haven’t already. This logic is very simple to understand here: considering a trader who can earn a constant average of 200 pips from the forex market every 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 goal (at least for now). However, nothing is difficult or impossible as long as you break everything down and try to understand the process in a simple way. The same goes for this strategy to get 200 pips every week.

Let me share the details below:

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

Because for almost all the currency pairs available to trade, your daily average pip range would be between 100 and 150 pips minimum. Therefore, when you are aiming for just 40 pips outside of this range, it is definitely very doable once you understand some proven facts that I am sharing here. For this example, let me use 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 lock in the 40 pip target with confidence:

1) Always trade on the bigger time frames like 1 hour or 4 hours

When looking at the larger time frames, you are actually looking at the “largest” price projection in the market. So not only are you seeing more reliable formation signals and patterns on the chart, but it’s 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 1.5x

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

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

3) Learn Forex Trading Strategies for the Sideways and Trending Market

In the forex market, the market is either deviating (ranging) OR trending. And the beauty is that you can definitely make those pips (profit) 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’s not good to apply a single strategy to all market conditions, as this way, you won’t get good results in the long run or maybe just “balance” maybe. So what you need to do is include good strategies that target both the sideways and trending markets in your trading basket. And the best strategies that you should use would be based on Price Action.

Because?

This is because price action is not lagging and the “clues” that are derived from actual market price action are more reliable most of the time. On the other hand, when you rely too much on so-called “textbook technical indicators”, you will suffer from more confusion and uncertainty, as they generally lag behind and are not as reliable compared to Price Action.

If you stick to these 3 proven tips, your effort to earn 200 pips every week won’t be as much of a challenge anymore. You will definitely suffer 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 by the end of the week is quite possible! 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 using a DEMO account first.

Once you can “consistently” get a lot of 200 repeat pips each week, you can proceed to a live trading account if you wish. 200 pips each week would roughly equate to about 800 pips each month. Now, do you know how much these kinds of pips would help increase your account size by only risking 2-3% at a time? I would say that is enough to make most traders around the world “envy” once they hear about your forex success!