How Many Pips Per Month Is A Great Result? - page 6
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I guess, it also depends on the type of trader you are - scalper, position, swing trader...
I guess, an average of 250 pips per week sounds about right. Overall, amount of pips shouldn't matter much. It is all about how much money you make, right?
I guess, it also depends on the type of trader you are - scalper, position, swing trader... I guess, an average of 250 pips per week sounds about right. Overall, amount of pips shouldn't matter much. It is all about how much money you make, right?
an AVG of 250pips/week ?!...
So that means that in an average year you make 13K! pips (tirteen thousand pips)...?!....
Would like to know what your average car and house is....
I guess I will stay a small trader for the rest of my life....
iGoR
an AVG of 250pips/week ?!...
So that means that in an average year you make 13K! pips (tirteen thousand pips)...?!....
Would like to know what your average car and house is....
I guess I will stay a small trader for the rest of my life....
iGoRIgor,
It's a problem of maths I believe.
Mostly I read people confused - with ^. Do you know where I mean?
Well...I think it doesn't matter how many pips you make per day, per week or what. To be a long term successful trader, it's about consistency and maintaining it.
We all know that sometimes certain market conditions don't allow us to profit well or will even lose. So why put yourself on a pressure and try to aim a certain number of pips for a given amount of time?
Only trade when you are confident and those efforts will make up for the pips. Just my 2 cents
The Problem With Pips
The problem with keeping track of performance in pips is that its deceiving, hence why most forex companies keep track of performance this way:) Lets say you risk 2% per trade and just your lot size according to the stop size. If you have a 500 pip take profit and a 500 pip stop loss you still only make 2% if the take profit is hit.
Conversely if you risk 20 pips on a trade and use the same 2% risk as above but make 40 pips you would gain 4%. So by making 40 pips you actually made more in the form of percentage gain, and in essence more money. Just a thought, hope it helps!
-Sterling
Mp -- pips or money . . . . . Lets see !
In my most kindly dutch uncle role, allow MY opinion that BOTH are extremely important, but for very different reasons !
using MONEY as an indication of success tells you if youre living nicely or not, paying your bills and making profits to add to equity.
using PIPS shows FUTURE promise if you maintain and improve your pip accumulation on a steady basis because, while pips can be 5 cents a pip or 500 which gives NO stability to counting profits in money, it is a recognized sign for how well one does in their trading, leaving aside money for the moment.
If you can earn 300 pips a day continuously, you continuously prove your abilities statistically, no matter what the dollar amount of your trades, simply by being able to repeat the performance.
Seeing your pip count INCREASE over time is the surest method of showing that you are LEARNING the market and doing well and a great pat on the back
I make 30-50 trades a day, always one lot each, so a pip count to me is easily figured as money, but ive been doing this for years now so its pretty automatic.
for one starting out, the bottom line is always the bottom line, but that pip count, steadily increasing as you learn, is the ONE sure sign that you will succeed just a bit on down the road !
enjoy and trade well
mp
I don`t think that the number of pips is too important
I don`t think that the number of pips is too important
Hi Plamar,
I see that you are new here (welcomme) but you will quickly learn. One of the things is: don't pay any attention to what this mpxxxx is farting out of his mouth
All the topics he opened over the last couple of weeks are all deleted and his banned already on 5 fourms (just google on his name and you will soon find out).
He had once a topic were severall members asked him to give proof of the claims that he made and his answer was NO I don't need to proof anything. But he continues on spreading his claims.....so what does he try to proof then ?....
friendly regards...iGoR
Pips don't really matter imho. You can have an account large enough where you can make $1000 from 1 pip profit with enough lot sizes even by taking 1% risk. $1000 is enough for my living cost for a month.