pips
How many pips do beginners tend to start with?
I recommend that you do not chase after pips, set yourself a yield of 3% per month and try to set the risk to 1% of the bill in each transaction. After reaching a monthly profit of 3%, stop trading. After 4 months you can consistently take 3%, set the bar at 5% per month. For the annual yield will be great to get 40% per annum.
BUT IMPORTANT when opening a transaction, risk no more than 1% of the account, and try to earn 3-5%.
I also recommend creating a signal for your trading, this will allow you to better control yourself and analyze the statistics of your trading.
The main rule of trading is to risk less to earn more.
How many pips do beginners tend to start with?
How many pips do beginners tend to start with?
Unfortunately, beginners tend to start with negative pips.
And it (usually) remains this way for years.
As the learning curve is quite steep.
There are exceptions of course, but this is GENERALLY the case.
And keep in mind that if you can make 10 - 20 pips per day (consistently, year over year),
you would be in the top 1/10th of 1% of all traders in the world.
This includes institutional traders.
BUT WITH THIS BEING SAID, REMEMBER THAT THE PIPS (AND PROFITS) WILL TAKE CARE OF THEMSELVES:
As your top priority (BY FAR) should be to protect your capital. By mitigating risk and controlling your losses.
And overall, the four (most important) factors that will determine your success (or failure) are the following:
- Trading Psychology
- Risk Management
- Risk Reward Ratios
- Position Sizing
Long term (year over year) these four factors are MUCH MORE IMPORTANT that any indicator or any strategy.
Hope this helps. =)
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