Realistic Winning Pips - page 2
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For actual numbers, I've posted many tables (just search my nic) in the past based on various systems/pairs. My current system has the best results.
But as a poster noted, it isn't really the number of pips which counts, it's the consistency. If you are able to make 50 pips per day or even 10 pips on a CONSISTENT basis, then you're in the game. Because at some point, you will increase your pip "value" because your capital will increase, so your pip value goes from 1$ to 2$ to 5$ etc. A pip is worth 10$ (on average, depending on the pair) on a standard lot. So 50 pips/day x 5 trading days is $2,500 per week.
Unless your objective is "I want to be a millionnaire in 2 weeks", $2,500/week will satisfy most of your needs
Happy trading !
Hi Ms Mel,
Thank you for your input. I will need time to read and understand your blog.
You point out that regular pips on consistant basis what every trader should be striving for.
That is why I didn't ask how many $ people were making, that is irrelevant. The size of your trades is based on the size of your account (or should do).
It is the number of average pips per month that is a good measure of performance and is definently not the only performance measure.
Some pairs will give you better return than others depending your system. If a pair make a negative pip return 1 month out of say 12 months and at the end of 12 you have 1,000 pips, that is 83 pips average per months and is a positive trading system. Over say 6 pairs your average maybe 60 pips per month or 1000 pips per month.
I would like to see what people's average pips return per month using a daily chart.
A trader who's a friend of mine, made 1000 pips in one month using a simple strategy he developed. That guy was unbelievable.
Hi Ms Mel,
Thank you for your input. I will need time to read and understand your blog.
You point out that regular pips on consistant basis what every trader should be striving for.
That is why I didn't ask how many $ people were making, that is irrelevant. The size of your trades is based on the size of your account (or should do).
It is the number of average pips per month that is a good measure of performance and is definently not the only performance measure.
Some pairs will give you better return than others depending your system. If a pair make a negative pip return 1 month out of say 12 months and at the end of 12 you have 1,000 pips, that is 83 pips average per months and is a positive trading system. Over say 6 pairs your average maybe 60 pips per month or 1000 pips per month.
I would like to see what people's average pips return per month using a daily chart.I will stop you here. No it's not the number of pips that matters !
It is the position sizing.
Lets have two traders with the same risk/trade of 2% and assume a 100% success rate for this example.
First trader claim :
Average of 1000 pips per week
Average SL : 200 pips
Average TP : 400 pips
Second trader claim :
Average 200 pips per week
Average SL : 20 pips
Average TP : 40 pips
Which one makes the more money ?