The target should not be determined based on pip acquisition per day, because market conditions are inconsistent; but based on the probability of profit from the overall trading which is commonly called the expectation of profit or expectancy. The profit expectation is calculated from the amount of the average profit in the times of trade and loss on average in the number of trade times. It is also important to note: usually, targets are determined after a long trading period (for example 6 months or a year), not a very short trading period such as a day or 2 days.
my target per day if averaged around 20 pips because I only set monthly targets not daily and 500 pips every month.
if your monthly target is 20 pips every day, use how much for the transaction?
I only do transactions 3-4 times a day with a target of 5-10 pips, but the target of 20 pips is only the average amount can still be more.
the meaning is not from pips, but how many lots do you use to get that profit, is it 0.01 or 0.10 even more?
I use lots varying from 0.1 to lot 1 depending on market conditions and the accuracy of the signal that I get.
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