How many pips is realistic?
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Thread: How many pips is realistic?

  1. #1
    Greetings good men and women! Being very very new to forex, I was just wondering what kinds of gains are realistic (in pip size)? Weekly, do any of you try to make a set amount each week/month eg 200 pips? What should you believe sensible? How many pips will the SUCCESSFUL trader make?

    cheers!
    Dan

  2. #2
    If it's possible to sustain CONSTANTLY 200 pips you are definitely in the right path.

  3. #3
    Quote Originally Posted by ;
    Greetings good men and women! Being very very new to Currency Market, I was wondering what kinds of gains are realistic (in pip dimensions)? Do some of you attempt to produce a set amount each week/month eg 200 pips a week? What should you consider realistic? Just how many pips will the trader make?

    cheers!
    Dan
    Welcome Dan. There's NO number of pips per day a thriving trader makes. If it's possible to learn to capture a mean of 5 pips a day you can earn a good deal of money if you've got good money management no streaks, and a compounding system. Some traders like Rob Booker and James16 recommend shooting for 10 pips a day. I believe it's a goal that is better both emotionally and financially. Keep in mind that a pip might have worth from .10 cents a pip (or less) into 500.00 a pip or more. So pips per day is simply 1 sort of target. With a good compounding system you'll still need to realize a constant 5 pips a day to receive compounding. Most folks would be bored out of their heads trading because smalll of a target and would lose this game.

    FT

  4. #4
    I am trading Cable and goal for 30 pips per day (150 pips per week).

    My daily score, at the previous 3 weeks, has ranged from -30 to 90. This trading using a target of along with a stop between between 10 to 13 50 or 13, 30, depending upon the setup. A 1/3rd typically closes at 13.

    My usual daily score is between -10 and 40. Slowly.

    I don't understand a 10 pip target per day, considering most of the FX major monies, even at a variety, move 20 /35 pips.

    I figure the goal is dependent upon the individuals egy, risk, target and winning percentage.

  5. #5
    Thanks FT, WTB and Hagadol! I gues Im planning for efficacy, I want to make as many pips as I can for the least effort involved! I asked my question in the first place was that I observed people advoing all sort of yields in these forums in addition to others. By way of instance, Ive read threads talking about making 10 pips per day, others aiming for two pips per trade for 20 trades per day, then I read a selling point of their James16 pf being Dialist instructing his version of a well know system which made him a massive profit last month! Its so difficult when first starting out - only so much info available, where to start!

    Dan

  6. #6
    'I noticed people advoing others as well as all kind of returns in these forums.'

    Rule Number 2 - Be very carefull reading / listening to scores / calls from forums and chat rooms. Most are overstated.

    If you enter a chat room, as an instance, Money Tec, if a person calls a transaction they never say 'I entered at Long 81 when the cost is already at 76. If the transaction is already in gain all the calls are. Strange that ! Since every few days I input a trade that goes not adding the disperse.

    Back on topic - If you receive your risk reward sorted out, making certain that your winners are bigger than your losers, you should be able to aim for more than 10 !

  7. #7
    I think you are missing a vital component if you need to try for a certain X amount of pips a day. It's too arbritary. You have to factor in your risk-to-reward ratio and win/loss percentage .

    Would you want to take for 20 pips a day if you have a 40 pip stop loss? This means you want two trades merely. Does this sound like a good idea?

    Maybe. You have to understand your win percentage.

    But if you have a 70% wining trade average, then you're going to be able to do this as you will still wind up with positive pips in the end.

    Also do you always take gain when you hit 20 pips or do you move your stop to breakeven and choose more? Doing this will now influence your average risk-to-reward ratio.

    Seeking to think of a pie-in-the-sky pip goal number is similar to requesting Kobe Bryant how many points a match he needs to average. What if he explained 50 points? Okay, how many shots attempts (risk - threat of additional group rebounding missed shot and scoring) will he need to achieve 50 points (reward)? Is he likely to jack 70 shots to create 50? Assuming he does not shoot free throws or 3 pointers, he would have only made 25 from 70 shots, that's a bad field goal percentage (35 percent).

    Let's say each time he missed, and he missed 55 occasions, the other team scored two points and Kobe is only the participant who scored for his group (which is usually the case anyways).

    Okay, let's do the math, Kobe scores 50 points, the other team scores 110 points (55 x 2 = 110). Lakers still shed.

    I hope this makes sense. Otherwise, I'm sorry. I'm still in disbelief right now how Kobe singhandedly schooled Denver Nuggets last night.

    What I'm trying to convey is understand the stats to the system you are trading.
    After you examine the stats, I guarantee you will understand how many pips you need to average. Cheers!

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