Forex Trading Tips – How You Can Profit at Least 200 Pips Each Week Trading Forex

Gaining 200 pips from the forex market may seem out of reach for most (including yourself) if you haven’t done it there. This argument is very simple to understand here – considering a trader who can consistently earn an average of 200 pips per week from the Forex market, the goal of such a profit will no longer be irresistible to him. On the other hand, if you are the type of trader who struggles to make 50 – 80 pips per week, then this target of 200 pips may seem like an impossible goal to you (at least for now). However, nothing is difficult or impossible until you break everything down and try to understand the process in a simple way – similarly to this strategy of gaining 200 pips per week.

Let me share the details below:

The key to success in Forex trading, month after month and long after, is to be “consistent”. Nothing beats this fact I’m sure. So instead of thinking about how to make 200 pips per week, you need to break it down into 40 pips per day. Not only is 40 pips a very achievable goal, it is also a “realistic” goal. Why do I say that?

Because for almost all currency pairs available for trading, their average daily pip range will be at least 100 – 150 pip. Therefore, when you notice only 40 pips out of this range, it is certainly possible to understand some of the proven information that I am sharing here. For this example, let me use EUR / USD to explain this strategy. It is one of the most traded pairs and liquidity is definitely good.

Here are some tips to help you secure a 40 pips target with confidence:

1) Always trade in large time-frames such as 1 hour or 4 hours

Looking at the big time-frames, you are actually seeing the projection of “big” prices in the market. Therefore, you are not only looking at the more reliable signal and pattern formation from the chart, but also not so tiring as looking at the 1 minute or 5 minute chart.

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

Forex trading is a game of chance. As long as you lose less than you have won each time and simply wash away and repeat many trades, you will be in the area of ​​”positive” profit every month. So by applying a risk / reward ratio of 1.5x, you plan your profit at 45 pips each time (applies for a pair like EUR / USD) and stop the loss at 30 pips. When you stick to this ratio, every time you win 45 pips but when you lose, it is only 30 pips.

Winning at a lower rate is more – that’s what I said!

3) Learn Forex Trading Strategies for both Sideway and Trending Markets

In the forex market, either the market is sideways (ranging) or trending. And the beauty is that after adopting some strategy for each different market you can definitely nail those pips (profit) you need from both market conditions.

In order to truly hold all the odds in your favor, it is not good to apply only one strategy in all market situations because that way, you will not get good results in the long run or maybe just be a “breakeven”. So all you have to do is include good strategies for both the surrounding and the trending market in your trading basket. And the best strategies you should use are based on price action.

Why so?

This is because the price action is not lagging behind and the “hints” you get from the actual market are often more reliable than the price action. On the other hand, when you rely too much on so-called “textbook technical indicators”, you will suffer more confusion and uncertainty because they are usually less reliable than plain lagging and price action.

By sticking to these 3 proven tips, your effort to make 200 pips per week will no longer be such a challenge. You will definitely face 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 really possible! So if you are interested in tuning both your mindset and trading skills to make 200 pips per week, try and get acquainted with these 3 rules first using a DEMO account.

Once you have “consistently” received 200 pips per week, you can move on to a live trading account if you wish. 200 pips per week will be roughly equal to about 800 pips per month. Now do you know how much these types of pips will help you increase the size of your account with only 2-3% risk each time? I would say that knowing your success in Forex is enough to make most traders around the world “jealous”!

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