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Opening more than 20 traders per day

Discussion in 'General Trading Forum' started by Daisy, Nov 3, 2013.

  1. Daisy

    Daisy

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    If a trader open more than 20 trades, long term and scalp per day, is there anything wrong with that picture? Do you think its healthy or profitable to open that many trades per day? However, if you really know how to trade, you could open that many and still profit from most of them whether from buying or selling or holding on for the long term if you have capital for it. Have you ever open that many trades before?
     
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  3. gkintl

    gkintl

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    If a scalper does 20 trades per day then it is considered to be too low. Usually, a scalper does even up to 100 trades a day. With 60% success rate and3-5 pips profit per trade, a professionally successful scalper makes around 50-60 pips on an average. On the other hand, if a non-scalper does more than 20 trades per day, it means that there is some error in his strategy. It is spread over 5-7 currency pairs, then it is fine. If not, a serious assessment of the trades need to be done.
     
  4. Daisy

    Daisy

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    I think paying spread fee and then opening 100 trades and earning only a few pips is way too low for me unless that capital size is big then its not a problem right. If he invest say one k then ten pips of one k is good but if he's only using dollars then its not high enough. I just hope that he use high capital in that case. I prefer the 50 pips and above. I also prefer long term trade and higher pips per day to avoid way too much headache and spreads.
     
  5. jackcm

    jackcm

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    Aggressively trading is not recommended, no matter if trader is a scalper or not. Those traders will soon find it meaningless because it is a waste of time.
     
  6. Daisy

    Daisy

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    In a good day then it might count towards something but someday you can't open much trades at all and it will only lead to losses. So, if you're hoping to make profit you might as well not open too many since you can end up with negative balance but if you're a pro then you can do anything I guess. I guess a pro will know how to make a profit in any kind of condition.
     
  7. jackcm

    jackcm

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    If they are able to make profit in any kind of condition, they should be very professional but I think only few of them can do that because professional traders are the ones who know when they need to enter market, not the ones who are willing to find all the way to chase money.
     
  8. Daisy

    Daisy

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    It looks like most newbie are there for a living. I'm in forex hoping to make a part time living off of it so I do always look out for the best way to trade and earn. Some day you have good luck and some days like recently are just dead beat. I think some weeks are really good and some weeks are just bad. It will all depends but nice if you can learn of ways to make money consistently per day. there are some days when even ten pips is not even possible cause its so erratic and move sideways only.
     
  9. willy

    willy

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    no i do not this write way of trading when we open like 20 trades per day because this can make us very nervous added to the nervous and the high risky of the forex itself therefore i did not try to do that and also i will not try to do it
     
  10. sindarin

    sindarin

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    20 open positions for me is never a good way, i also never see by my own eyes a trader that could make profit with open more than 5 positions, usually around 1-3 positions which mostly make profit in forex.

    I also think that open 20 positions don't make any sense for me.
     
  11. kasual

    kasual

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    Well, normal if traders open 1 or 2 positions per day. However, if it exceed more than that, traders has been conduct over trading. Traders work with specific strategy, and measuring good entry level with strategy. I think there are no strategy which lead traders to open 20 positions in a day. I suspect that traders just conduct blindly trade.
     
  12. Pettyeve

    Pettyeve

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    It is not good to over trade. If a trader opens that big number of positions, he or she is putting himself or herself under the pressure of making profit by force. It is good that a trader will be able to learn how to open the position he or she can handle.
     
  13. kasual

    kasual

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    I am does not sure that in a pair, market provide more than 20 trades opportunity. However, it possibly happen when traders trade with multiple pairs. And if traders willing to trade by open many position per day, they need to make sure that capital high enough to cover high margin necessities in trading. So, they won’t get margin call easily.
     
  14. tray

    tray

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    Its very possible @kasual just check and you will notice something similar to that its just about your equity if your equity can carry then go ahead and open but if you dont have enough margin then that will be impossible.
    Its always adviceable for any trader to stick to one or two trade at a same for focus and proper concentration
     
  15. sindarin

    sindarin

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    What? 20 positions in one day? you are really want to kill yourself. Quality is better than Quantity. As for me i prefer one or two positions but with higher lot size and pips. Also one or two positions more maintainable.
     
  16. rexway

    rexway

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    opening more than 20 trade in just one day is very dangerous because there is no way which the trader will not get confuse and you have to consider the type of trader which you are before taking such mode are you a long term trader or short term this are the question you need to ask your self and answer as majority of the trader dont even know the type of traders which they are all they know is keep trading
     
  17. Decub

    Decub

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    That is rather much if you ask me. It really doesn't lie in the number of position you open daily, rather in the number of successful trades you execute. Making money in Forex doesn't come true by stressing or increasing the level of stress by yourself, rather, by having a working trading system.
     
  18. sindarin

    sindarin

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    So it seems that most of the posters here really think that this kind of way to trade is not even make any sense and does not effective nor efficient. Opening 20 positions i see is only bring more problem for traders not profit.
     
  19. budado

    budado

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    I don't see any reason why he need to open 20 trade in a day. If its different pairs each then I can say its okay. But if it just one pair then for me its better to just open higher lot size than open 20 small different lot size.
     
  20. karunafx

    karunafx

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    I think opening 20 order in a day is really gambling and very risky..
    I can't imagine if the order facing Big News, it will make the owner being crazy...:D
    I trade in liteforex always opening 1-2 order, it will safe for us..
     
  21. Decub

    Decub

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    Maybe for someone who is a basket trader, he can do that but for a random trader who only depends in the usual few pairs, that wouldn't make any sense. Opening much number of pairs will only create problem for the trader and not the presumed profit no matter the level of skills.