How many pips a day ?

Hi everybody.

I'm a newbie here and in forex too.

Just wondering how many pips are you doing each day (in long-ime average) ?

Thanks in advance

Daily is quite a short time frame to look at pips. I only look at monthly pips count. I am getting around 300 now but made a loss for long time

Penrose2000 posted:
Daily is quite a short time frame to look at pips. I only look at monthly pips count. I am getting around 300 now but made a loss for long time

What turned around your trading?

Penrose2000 posted:
Daily is quite a short time frame to look at pips. I only look at monthly pips count. I am getting around 300 now but made a loss for long time

thanks.

300 pips a day consistently is a crazily good amount!

jamesgwyther posted:
300 pips a day consistently is a crazily good amount!

I think he's saying 300 pips per month (not per day)

hi

30-40 pips a day is about normal I think !

breesean posted:
30-40 pips a day is about normal I think !

For which kind of a strategy is that? I think for intraday trading that is a bit optimistic. Are you trading all of your hours outside of the bed?

'I track all of my trading data/stats in excel. Even my best week after week runs have inconsistent day to day returns. I think a better look at any strategy is to look at your pip totals based on a rolling return. I use 5, 10, 15, 20 and 30 rolling pip returns. I believe that this assessment of your trading will let you know if you are on the right track. Do not use an arbitrary daily or even weekly goal because it will change but the change might be statistically predictable.'



and that is 5, 10, 15, 20 and 30 day rolling returns.

20-30 pips a day is about normal for eur/usd, although I don't set limits on the amount of pips I make, some trades are 200 pips over a few days, I do control my stops though with most 10-15 pips or less, sometimes I move my stops up to take 50% or 75% all depends on chart pattern ,everyone has their own setup and it takes experience to run a trade to its max ,sometimes you will get it perfect, sometimes you wont.

Some days I make 0pips other days -50 pips and some days +50 pips . Measuring daily results is a false target. Will lead to over trading and disappointment

In my opinion, the highest priority for any investor is to always protect the investment capital FIRST, everything else is secondary to this.

The market will let you know when to enter, how much your trades are worth, and when to get out.

Don't worry about how many PIPS you are going to get each day.

pips is meaningless anyway. 1 pip move on USDCHF is s smaller percentage move compared to say 1pip on EURJPY. And profit is also dependent on Lot size. Pro traders don't even talk in pips but percent or $$$

Paquito posted:
pips is meaningless anyway. 1 pip move on USDCHF is s smaller percentage move compared to say 1pip on EURJPY. And profit is also dependent on Lot size. Pro traders don't even talk in pips but percent or $$$

MOst Pro Traders I know talk in percentages. Rarely in monetary value.

I worked on the professional side and pips were used for Forex but you knew what they were trading, percentages for the index and stocks ,percentages instead of cash values and R values for portfolios.

It totally depends on the trader, the style, and his goals. A person who trades long term trends may have losses for 5 days in a row then hit a big trend. Trying to squeeze out a certain amount of pips per day is not the best way to go about it. Get an edge and trade it regardless of the results.

Professional4X posted:
In my opinion, the highest priority for any investor is to always protect the investment capital FIRST, everything else is secondary to this.

The market will let you know when to enter, how much your trades are worth, and when to get out.

Don't worry about how many PIPS you are going to get each day.

you deffo right mate

pips work for comparing trading systems... profit per pair varies