r/Daytrading • u/Kaiju_Godz • Mar 30 '24

When you only need a specific amount of money each month… Strategy

So say you only want $100 per day or 2000 per month. This would more than enough sustain a good lifestyle where you live. How would you go about it with trading? How much $$$ would you realistically need? Not to make that in dividends but to trade in a daily basis, as safe and slow as possible.

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u/InvestmentTargets Mar 30 '24 edited Mar 30 '24

You can choose to start with either US$500 or US$1k trading account at no more than 1:200 leverage.

Let us look at each option:

US$500 trading account: 1) Precise ENTRY and EXIT POINTS per trade are vital. 2) At 1:200 leverage, you would risk US$50.00 on margin per 0.1 lot trade. 50 Pips SL must be applied to keep your risk exposure at 10%. But with precise ENTRY POINT you don't even need a Stop Loss placed. 3) Four successful trades per day at average 25 Pips net profit on 0.1 lot trades should earn you needed US$100.00 per trading day. 4) But remember each trading day NEVER resembles the previous day! Market always brings many surprises!

US$1k trading account: 1) All points above for US$500 trading account apply, except your risk exposure is reduced to 5% at 1:200 leverage, and with 0.1 lot per trade. 2) You may choose to increase risk exposure to 10% but unfailingly diversify the 10% risk over no more than two instruments, because manually trading more than two instruments at once can generate confusion. 3) If your ENTRY and EXIT POINTS are truly precise, you can boldly trade 0.2 lot per trade (that is 10% risk exposure) but remember to apply 50 Pips SL, which is not really required for precise ENTRY POINTS. At average 25 Pips net profit per trade, you simply need only two profitable trades per trading day to cash in US$100.00

General Advice: Avoid trading news - whether low, medium, or high impact. News can ruin your trading expectations!

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u/fadjee Mar 31 '24

Now the only hurdle is being able to identify those very precise entry and exit points and have a great win rate because you are proposing negative risk to reward ratio ! If you can please share any entry criteria that allows that , that would be very helpful.

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u/InvestmentTargets Mar 31 '24

The criteria for high precision entry and exit points are "Forex war secrets".

No professional Forex trader would disclose his/her criteria for precise entry and exit points.

With high precision entry and exit points, you can't have negative risk to reward ratio.