How many pips a day ?

Saif59 posted:

togr posted:
There is no such rule.
If you are some day making more pips than is your targer you surely won't stop and trade even more.
If you are some day not makinmg enough pips you surely not meet the target.


The question should be ho much profit should you make per month to make your trading time worth it.
For me target is about 5% and I am slightly below that.

So your target is a 5% increase in your account per month? You are a very very experienced trader but I thought that pro traders made hundreds of percent a year. Is 5% a more realistic target? If it is then my tiny $1000 account is not big enough to make any significant profits

pro traders make like 20-30% a year with very low risk

togr posted:
There is no such rule.
If you are some day making more pips than is your targer you surely won't stop and trade even more.
If you are some day not makinmg enough pips you surely not meet the target.


The question should be ho much profit should you make per month to make your trading time worth it.
For me target is about 5% and I am slightly below that.

I agree. No need to measure the profit per trade in pips. And it really doesn't help your performance to know how many pips professional traders make.

FMovingAverage posted:

togr posted:
There is no such rule.
If you are some day making more pips than is your targer you surely won't stop and trade even more.
If you are some day not makinmg enough pips you surely not meet the target.


The question should be ho much profit should you make per month to make your trading time worth it.
For me target is about 5% and I am slightly below that.

I agree. No need to measure the profit per trade in pips. And it really doesn't help your performance to know how many pips professional traders make.

It becomes useful to know how much the pair your trading moves on a daily basis if your a short term trader

It depends on your trading style not pips value.
If you are scalper, how do you want to achieve 5,000 pips per month which is easier for swing trader?
Pips value is not important thing to consider.
Your job is to get the profit from Forex trading only.
How to get it?
It depends on you.

tracydavison posted:
very interesting thread :) some great advice here

Yeah agree, some good information here

Try not to set daily targets. If the market doesn't move then you'll end up chasing pips that aren't available! Entering trades left right and centre.

We the traders who are particularly scalpers have to choose the brokers which for all time make sure lowest trading spreads which is very supportive to make profit with certainly by using scalping policy that brings profit in a short time.

Scalper also need to keep an eye on commissions. many broker offer low spread to tempt scalper in but then they have very large commissions that take all the profit away

I do not set daily targets for pips

Setting daily targets for pips may ruin your day, but instead focus on the Market open you wish to trade on

When comparing pip goals with each other, one must remember that some people open more than one order at the same time. This multiplies the number of pips gained/lost for a single given pair movement. For example, today I made 1,087 pips but the pair movement was 11 pips.

StayFrosty posted:
When comparing pip goals with each other, one must remember that some people open more than one order at the same time. This multiplies the number of pips gained/lost for a single given pair movement. For example, today I made 1,087 pips but the pair movement was 11 pips.

Wow. Mine so far at least 2,000 pips per month.

dont try too hard the easter bank holidays are coming

I don't have a set target of pips per day, as long as I am making more than I am losing I am content.

Never you set target to make

But do on average

Wrong question to start trading forex with. If your goal to make pips every day let me tell you fridend market won't simply give you intake it will take it from you what you have already made. I had the same question, same mind set 4 years ago. Earned not of money and lost lot of it too. Speaking from real experience. Goal should be how not to lose, how to protect your capital and make consistent mony over times.

Hedgefunderpro posted:
Never you set target to make

Exactly!!!

I`ve found something interesting lately. 10 pips a day rule. In short a target is 10 pips for a day and in long term this can provide you serious profit. Sounds strange for me but I think to test it in demo and see the results.