How to Make 100 pips in One Single Forex Trade

Setting up and running a day trading group help ensure that I wake up everyday with the proper level of motivation to get me to have a productive and successful trading day. See my list of top 5 day trading winning habits. Every now and then, I also shared and discussed various forex trading ideas here and here.

About three weeks ago, I wrote in my daytrading blog:

I am already running an additional Dynamic-Stop System utilising the existing day trading system to get better entries and exits.

Considering the amount of efforts being put in to monitor the running positions and provide dynamic stops throughout the day, I am setting a high target of 100 pips per signal. My objectives are to trail the stops to zero risk and aimed at producing maximum rewards.

Since then, I successfully scored 8 x 100 pips in less than 3 weeks. See all my winning 100-pip signal entries. The goal-setting thing can realistically make a difference to the trading outcome as to what type of day you will have.

Suppose you would also like to hit the 100-pip - which is a "massive reward" for any day trading system. Let me demonstrate the basic guideline and a few simple things you can do:

1. Plan in advance 100-pip target. If you win, you will get 100 pip. If you lose, you lose 50 pips or less. The idea is to get a reward-risk ratio of 2-1 or better.
2. Use breakeven strategy rather than the trailing stop. Once your position is in healthy profit, move it to breakeven to guarantee a risk-free position. Trailing stop often results in early exit.
3. Most importantly, you need to have a proven system for generating highly profitable trade setup accurately.
4. The best strategy generates the target pips in record time... sometimes in less than 24 hours !

I think I have come up with a strategy on how to approach all of the above. I will keep you posted about my finding when I have more results to report.