How Many Pips Per Day Is Successful

I know that traders aren't supposed to aim for a goal. But I'm wondering how other traders feel. So, I pose this question to the community. How many pips would you like to profit per day?

Broker is the most important thing in the forex market. many traders lose their money because of choosing a wrong broker.So, be careful when you are choosing a broker for you.

There is no such standard of specific pips everyday. Trading is a long term business. One needs to survive for long. Market doesn't move according to anyone target pips. We need to adapt with the market and take the opportunity of good trade.

Yes you are absolutely right. There is no such parameter. It's about individual skills. For example, If I can make 10 pips, that's success for me. But it should be on consistent basis. Focus should be on the process not on pips.

I think pips are not so important and we can only survive in forex trading if we have good skills and have a specific standard to remain in Forex trading. We should have plan and a strategy to gain our targets and be successful.

pips can not be targeted .. becoz market does not move daily ...

I agree, a good risk management can make a trader lives longer in the Forex industry. Which currency pair do you trade?

This has been interesting to know that noone sets a pip target. I came into trading wanting to make a certain amount of money per month, which equates to a certain amount of money per day. It's interesting to know that others don't have those sort of goals.

So, how does one decide to day trade full time? If you never know what you're going to earn in a month and yet you still have the same finite minimum household expenses

I make a trading plan with a target of 200 pips per month. And in every trade, we must follow money management and risk-reward. I think this discipline will help me to succeed.

Theres no specific monthly return in forex. I think the capital used in trading affects the amount of profits made in a month. The exchange value of the stock market also affects the profits that can be made in a month.

As long as one profits more than they lose, they are successful, I think.

That's right. No body know weather the market is going up or down. As long as we diversified the risk to make the times of win more than loss, we are profitable.

Opinions of traders are based on what they have already experience so far, so there are no right or wrong answers to that questions. Most traders will say it's not possible. But a very few traders with decades of experience will say that it's possible to aim for let's a 0.5% a day or 1% a day. And many (about 99% of traders) will disagree with that. Keep searching, learning, and trying. I know because I recently learned that it was actually possible. Google this ebook: "Forex Backdoor: A 3-Step Down-low Razor-Sharp Guide To 0.5% Profit Per Day"

There are different styles of trading, for this you have to choose the style of trading that best suits you, the main styles being scalping, intraday y swing

-Scalping:It is the shortest style of trading in the markets, the total duration of the positions are made in minutes or even in seconds either in buying or selling and have as their advantage their low risk, since they are only a short time in the market.
- intraday: this style of trading holds a position for a day or even less
- Swing: it is a style thatreally requires patience, positions are held for much longer than scalping or intraday but you can have more profits inthe future.
each trading style has its pros and cons choosing a trading style always depends on each trade.

style: scalping / intraday / swing
duration: minutes/ hours oy day/ days or weeks
stop loss: 3 or 10 pips / 10 or 50 pips / 50 or 150 pips
graphics display: 1m,5m,15m / 30m,1H,2H / 4H,1 D
no. operations: very high/ moderate / low

It is a style that really requires patience, positions are held for much longer than scalping or intraday but the gains are considerably higher.

I aim for 50/day. I like to keep a small position left on the table after taking the target profit and letting it run to see where it goes (will close out when/if looking to re-enter the market).
However - I am new to FX (been trading shares and options) so what do I know???

It would likely depend on how much money you put on each pip compared to your account balance, as well as the amount of pips the chart normally moves. nala66 seems to be a well known trader here who goes for about 50 pips a day trading cable: https://www.forexfactory.com/thread/...s-via-averages

Don't focus on pips, only bad traders do this. Instead focus on just making good trades and getting out of bad trades. The profits will come. Stay consistent.

I try to turn each month of my swing trading positive, but even that is difficult. Day to day volatility in my swing trading makes it impossible to generate a fixed amount per day. As others above have said, it's better to focus on improving the process and when enough improvement on the trading system has been achieved, the pips will follow. If not daily, then at least monthly (most months) or maybe even weekly (most weeks) for shorter trade durations. I haven't been able to trade very short trade durations successfully, so I'll leave that for others. - G

Sorry, but I don't even see the point in evaluating the performance on a daily basis. For me, a significant indicator is a monthly result, quarterly, semi-annual, then a year, two... Each of these periods has its own dynamics and it is important to take into account the increase or return on deposited funds (as in any investment business).
imo, the pips amount will just depend on the risk, that is, on the volume of trades.

I start off the people I teach at $500 and have them look for simple basic setups for around 1% a day profits to start.

For the ones that are less confident or experienced in trading from past experiences, I have those aim for $1-5 a day instead.

Slow and steady is the key. Like I always say "Protect against loses and the profits take care of themselves."