How many pips does a "successful" trader collect weekly? | Page 6 | Forex Factory

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How many pips does a "successful" trader collect weekly?

  • #101
  • Jul 31, 2017 9:07am Jul 31, 2017 9:07am
Quoting dkrock
{quote} First, you said scenario. Why would you trade so haphazardly? If you do not know your capability, then you don't need to risk any money. You need to go back to demo and learn your average win/loss so you can gauge your risk. Second, you are talking about money being risked. So? You lost because you didn't make any pips. What if you did the opposite of your scenario? What is your point? You need to know how to make pips before you risk any money. Those pips determine your consistency and your risk management plan. Many people trade historical...
I know very well how to trade.

My point was that pips are not a meaningful measure of performance.

Sorry you took it the wrong way. Enjoy your pips, I'll stick to percentages.
  • #102
  • Jul 31, 2017 9:18am Jul 31, 2017 9:18am
Quoting kenshin
{quote} I know very well how to trade. My point was that pips are not a meaningful measure of performance. Sorry you took it the wrong way. Enjoy your pips, I'll stick to percentages.
Knowing how to trade also has nothing to do with how far price moves from your entry to your exit. That distance is called pips.

In the attached pic, you are telling me the distance of the trade between the magenta lines is money. How much? I measure it by pips, and the money is whatever I want it to be. The money I risk has nothing to do with how far price moved. But you say it does. Sorry you do not understand.

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You cannot be extraordinary by being normal
  • #103
  • Aug 18, 2017 7:39am Aug 18, 2017 7:39am
True. But the end profit would be quite different if you traded those pips with, for example, 0.1 lot compared to trading it 1 lot.
  • #104
  • Aug 18, 2017 8:56am Aug 18, 2017 8:56am
If a trader makes below 50 pips is a week but consistently, definitely he is also a pro trader! Here, consistency is the main parameter! Basically, daily and weekly trading targets depend on trader’s strategy and plan!
  • #105
  • Aug 19, 2017 5:44am Aug 19, 2017 5:44am
I don't think successful traders see it from that kind of perspective. Some weeks you could gain just around 10 pips on others it could be 100 or more and, we're only talking about good weeks(Profitable's). I strongly believe that those who set a certain number to achieve on weekly basses instead of focusing on the opportunities they're headed to blocked end. you should focus on maintaining a steady and healthy growth instead of chasing a certain amount of pips.
I Never Lose. Either I Win or Learn
  • #106
  • Aug 19, 2017 8:38am Aug 19, 2017 8:38am
Quoting JimmyChoo
If a trader makes below 50 pips is a week but consistently, definitely he is also a pro trader! Here, consistency is the main parameter! Basically, daily and weekly trading targets depend on trader’s strategy and plan!
I completely agree. Especially if their losses are less than those less than 50 pips of weekly profit.
  • #107
  • Sep 10, 2017 1:21am Sep 10, 2017 1:21am
Hi all,I have allways followed the % gained theory v pips made but over the last few months i have been making far more pips than lost with break even results over a series of 20 trades or so.Could someone explain to me if and how is it possible to place trades on any pair and make the pip value is the exact same and therefore if i make 250 more pips than lost i would be profitable.Just a little confused about this.Thanks.
  • #108
  • Oct 15, 2017 4:57pm Oct 15, 2017 4:57pm
Quoting OldBell
Hi all,I have allways followed the % gained theory v pips made but over the last few months i have been making far more pips than lost with break even results over a series of 20 trades or so.Could someone explain to me if and how is it possible to place trades on any pair and make the pip value is the exact same and therefore if i make 250 more pips than lost i would be profitable.Just a little confused about this.Thanks.
if your really want use pips (what really only beginner do, later noone counts in pips if he is not crazy or likes useless things) then calculate the pipvalue each week for each currency (or after each interest change), then set it in ratio to your lotsize, so that for each currency you have then same tickvalue on the end (after different lotsizes used for different currencies).

if you want trade in one currency more then 1 trade same time, you always have to take your calculated lotsize or many times this lotsize as seperated orders.

simple count in money, do the easy way! easy is always best. never ever think for statistic about pips won/loss or balance, this both are useless words in trading, because will not tell anything if you know this. to less informations inside this both.

possible to unterstand this way?
  • #109
  • Oct 16, 2017 2:24am Oct 16, 2017 2:24am
A swing trader usually collects 1,000 - 2,000 pips per month, not per week though.
  • #110
  • Oct 19, 2017 7:33am Oct 19, 2017 7:33am
Quoting Icycool
A swing trader usually collects 1,000 - 2,000 pips per month, not per week though.
1000 - 2000 pips per months is still a lot though. I often trade in that manner and I wish I could collect that many pips. But then again, the lot with which one has opened a trade also matters, not just the number of pips.
  • #111
  • Oct 19, 2017 8:10am Oct 19, 2017 8:10am
Quoting mlawson71
{quote} 1000 - 2000 pips per months is still a lot though. I often trade in that manner and I wish I could collect that many pips. But then again, the lot with which one has opened a trade also matters, not just the number of pips.
all matters. pips are most useless number you can count, you will not see one good trader who count it, maybe you see trader who call themself good traders but are not so good traders (then maybe they count it ).
pips are complete useless, when you dont know lots and currency (because of different pipvalue). you can have 1000 pips win all together per month and many thousands in money lost same time very easy. some even trade 10 times 0,1 lot and not 1 lot, so they can show 10 times more pips win, but have only exactly same like the man with the 1 lot. so stupid.

its same with balance , nobody mention balance, only equity.

if someone will say anything about balance or pips, just run, he is a extrem beginner, who dont liked to learn easy basics.
  • #112
  • Oct 19, 2017 8:51am Oct 19, 2017 8:51am
Here's the problem:

If I have a $1000 account and gain 10 pips, what am I left with? Nobody knows, because we don't know the value of the pip. So, what use is tracking pips? It does not give me any idea of my performance. So, when you tell someone you gained x number of pips it tells them nothing about your performance.

Here's the solution:

If I have a $1000 account and gain 10%, what am I left with? That's easy, it's $1,100 right. I can clearly see what my performance is in relation to the balance/equity.

Of course the real reason for pip obsession is that generally for a given number of pips, the percentage is likely to be lower. For example, your 10 pips might only represent 0.5%, and naturally the bigger number sounds better. The noob and the snake-oil salesman will want to tell everyone 10 pips instead of 0.5% just because of the perception that a bigger number implies better performance. It is true that generally a larger number does imply better performance, but pips by themselves are not a measure of performance. They are only a measure of distance, and nothing more. You cannot measure the performance of your account using just the distance between the open and close of your trades as the only information.

I don't know if it's possible to make it any clearer. Anyone not understanding how useless pip counting is needs to go back and learn basic mathematics.
  • #113
  • Oct 19, 2017 8:56am Oct 19, 2017 8:56am
Quoting kenshin
Here's the problem: If I have a $1000 account and gain 10 pips, what am I left with? Nobody knows, because we don't know the value of the pip. So, what use is tracking pips? It does not give me any idea of my performance. So, when you tell someone you gained x number of pips it tells them nothing about your performance. Here's the solution: If I have a $1000 account and gain 10%, what am I left with? That's easy, it's $1,100 right. I can clearly see what my performance is in relation to the balance/equity. Of course the real reason for pip obsession...
you example is even small.

you simple do 10 times 0,1 order and not 1 lot order. and so you have 10 times more pips, so 1000 pips win, but in reality it was only 100. or do 20 times 0,05 orders and have 2000 pips. or do partially closing and count wins seperatly and get more pips won then you have in reality.

its so boring that many people dont like learn basics, and so some people really think about counting in pips.
with counting in percent you can also fake extrem , but at least you have only to look at deposits and withdraws to check for fakes. best is counting in money won.
  • #114
  • Oct 19, 2017 8:59am Oct 19, 2017 8:59am
Quoting dukas_trader
{quote}with counting in percent you can also fake extrem , but at least you have only to look at deposits and withdraws to check for fakes. best is counting in money won.
Yeah, I'm aware of scamming via percentages as well, but I was trying to make the example as easy to understand as possible.

Quoting dukas_trader
{quote}its so boring that many people dont like learn basics, and so some people really think about counting in pips.
Some people just can't be helped, even when it's laid out so simple.
  • #115
  • Oct 19, 2017 9:07am Oct 19, 2017 9:07am
Quoting kenshin
{quote} Yeah, I'm aware of scamming via percentages as well, but I was trying to make the example as easy to understand as possible. {quote} Some people just can't be helped, even when it's laid out so simple.
all was correct what you did say, was only as add on.

money is maybe the best to use. with this number all other numbers can be simple calculated.

and you are correct, many dont want learn the basics step by step, i have seen this by 90% of the people here. even 90% of the red flagged people have this problem. impossible to help, when someone has no possibility to learn.
  • #116
  • Oct 19, 2017 9:17am Oct 19, 2017 9:17am
Quoting dukas_trader
{quote} all was correct what you did say, was only as add on. money is maybe the best to use. with this number all other numbers can be simple calculated.
You are right, the actual money is the most accurate way to track the performance. My wife has no interest in pips or percentages, only cash.
  • #117
  • Oct 19, 2017 9:21am Oct 19, 2017 9:21am
Quoting kenshin
{quote} You are right, the actual money is the most accurate way to track the performance. My wife has no interest in pips or percentages, only cash.
yes money, the only thing wifes can sometimes keep private
  • #118
  • Oct 20, 2017 7:05am Oct 20, 2017 7:05am
Quoting dukas_trader
{quote} all matters. pips are most useless number you can count, you will not see one good trader who count it, maybe you see trader who call themself good traders but are not so good traders (then maybe they count it ). pips are complete useless, when you dont know lots and currency (because of different pipvalue). you can have 1000 pips win all together per month and many thousands in money lost same time very easy. some even trade 10 times 0,1 lot and not 1 lot, so they can show 10 times more pips win, but have only exactly same like...
That was exactly my point. Pips by themselves are not a good quantifier about someone's success - or the lack of it, for that matter.
  • #119
  • Oct 20, 2017 7:07am Oct 20, 2017 7:07am
Quoting mlawson71
{quote} That was exactly my point. Pips by themselves are not a good quantifier about someone's success - or the lack of it, for that matter.
yes, my post was only an add-on to yours.
  • #120
  • Oct 20, 2017 2:34pm Oct 20, 2017 2:34pm
more pips to us.
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