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250 pips per month-realistic?

  • #1
  • First Post: Apr 3, 2010 4:43am Apr 3, 2010 4:43am
Hi, Newbie to trading (5 weeks),

Read J16 and now Jackos strategy - loving it!!

Is an average of 250 pips profit per month realistic using one of these strategies, say 3-5 trades per month? Using a 50pip trailing stop and risking 2% of capital it works out 10% profit per month.

Thanks!
  • #2
  • Apr 3, 2010 6:29pm Apr 3, 2010 6:29pm
mmm u are asking..if something is achievable?

if you need to ask strangers that, i would recommend not wasting too much time in testing if you are up for the challenge until you sort your confidence and insecurities out
  • #3
  • Apr 3, 2010 8:30pm Apr 3, 2010 8:30pm
Yes, its possible, and in some cases all in one trade.

Oh, and forget about trailing stops. Trading is all about chances/probabilities. The closer price is to your stop the greater chances are that it will be hit.

In my experiences, the only stop modification worth using is pulling up to break even, but that's it.

My 2 cents.
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #4
  • Apr 4, 2010 6:08am Apr 4, 2010 6:08am
Possible, but not consistently for inexperienced traders I think
si hoc legere scis nimium eruditionis habes
  • #5
  • Apr 4, 2010 6:42am Apr 4, 2010 6:42am
Scotty2Cues,
250pips per month - realistic?
difficult to answer. it depends on YOU.
-it is possible. but not too early in the game (or depending on your learning curve/experience)
-u can achieve more or less than that.

but overall, it would be best to concern yourself of trading well (or learning to trade well) than focus on how many pips u can make.

Never stop learning.... so your goals may be achieved

(btw, i remember u posted in the james16 thread. good decision!!)
  • #6
  • Apr 4, 2010 6:04pm Apr 4, 2010 6:04pm
Quoting supremeChaos
Scotty2Cues,
250pips per month - realistic?
difficult to answer. it depends on YOU.
-it is possible. but not too early in the game (or depending on your learning curve/experience)
-u can achieve more or less than that.

but overall, it would be best to concern yourself of trading well (or learning to trade well) than focus on how many pips u can make.

Never stop learning.... so your goals may be achieved

(btw, i remember u posted in the james16 thread. good decision!!)
thanks!
I started looking into trading about 5 weeks ago. Didnt know where to start. Luckily found J16 thread and then Jacko thread and now loving it. I just wanted to get some idea of whts possible with a basic, patient and disciplined strategy (such as J16). I will start demoing in a couple of weeks. When Im profitable for 2 or 3 months Ill deposit a small amount.

Maybe I should have said 10% per month rather than 250 pips, but I calculated it with 2% capital risk and 50pip stop loss so they are equivalent
  • #7
  • Apr 4, 2010 6:38pm Apr 4, 2010 6:38pm
I don't see the reason why people count pips I could care less, I count DOLLARS! I am more concerned about how much I make then the amount of pips, pips depends on how much you are trading, if you make 250 pips a week but take small trades you wont make any money anyway so I never understood why people talk so much about pips. I want to know who much are people making anyway? what is your average a month? Me personally I average 8-10K a month and I trade relative small lots with maybe 60 trades a month.

real answers please I know there will be many people writing crap.

Thanks!
  • #8
  • Apr 4, 2010 9:41pm Apr 4, 2010 9:41pm
Quoting Scotty2Cues
..Luckily found J16 thread and then Jacko thread and now loving it. I just wanted to get some idea of what's possible with a basic, patient and disciplined strategy (such as J16)....
all i can say is, if u become disciplined & patient, the sky is your limit.
or what's in your mind is the limit.
Good luck!
  • #9
  • Apr 5, 2010 5:47pm Apr 5, 2010 5:47pm
yes it can if you have trading system i think this very easy
and i think best trading system is money management and own psikology
  • #10
  • Edited 8:33am May 17, 2010 7:58am | Edited 8:33am
I'm trading now for six months and i can proudly say that 200 pips per week are routine for me on a constant basis, and ofcourse i can prove it !
  • #11
  • May 17, 2010 8:23am May 17, 2010 8:23am
On certain pairs... i.e the EU, it is a trending market... at the moment they are in the for a retrace... but it is easy to make money in trending markets.

The question is how do you adapt the market conditions?

It is not about pips... it's about position sizing... you can make 200 pips and come out with £200 a week, someone else will take similar trades and come out with 200 pips, but £1000.

You have to know when to get it and then you are going to get out.

If your stop is 100 from your original entry... and the market retraces 50 pips... I would add another position and for the new position my stop now becomes 50 pips, you have 2 positions in with lets 3%... I know which one stands a better chance in making money... some others may disagree... one glove does not fit all.

Good luck!

Quoting Bulgaria
I'm trading now for six months and i can proudly say that 200 pips per weak are routine for me on a constant basis, and ofcourse i can prove it !
  • #12
  • May 17, 2010 8:33am May 17, 2010 8:33am
been trading in 5 years, and this is my advice for you,

use the system you mention above, try hard not to lose over 250 pips a month ( i mean with your 50 pips stop like you said...) then if you lose less like 200 pips i think you are good with 5 weeks expeirement

think it's easy??? try it
  • #13
  • Jan 4, 2021 5:29am Jan 4, 2021 5:29am
Make a good plan and choose the best strategy to make money in this lucrative market.
  • #14
  • Oct 18, 2021 12:10am Oct 18, 2021 12:10am
Any profit in forex is good in my opinion. 100 pips per month is very good, and 300 pips is excellent. Many people make money for a short period and then lose it all. Therefore, I consider 1200 pip a year to be very good and 3600 pip a year to be exceptional. If you do that for 5 years, you know you have an excellent trading system.
  • #15
  • Edited 5:47am Oct 18, 2021 5:28am | Edited 5:47am
Quoting Scotty2Cues
Hi, Newbie to trading (5 weeks), Read J16 and now Jackos strategy - loving it!! Is an average of 250 pips profit per month realistic using one of these strategies, say 3-5 trades per month? Using a 50pip trailing stop and risking 2% of capital it works out 10% profit per month. Thanks!
Hi,
On your quoted stats it doesn't at first look particularly achievable: 250 pips monthly over 5 trades per month requires an average 50 pips per trade with 100% success rate. That's an unrealistic success rate.

So, say 3 winners and 2 losers for your 5 trades. Give the 2 losers a bit of a trailing stop benefit and say they lose 50 pips between them. So now you need 300 pips from the 3 winners, that's an average of 100 pips per trade. Given you are on a 50 pip trailing stop it means they need to go 150 pips in profit before falling back to the trailing stop to net the 100 pips, i.e. they all need to go in profit 3x greater than the stop distance before falling back. Not likely.

Of course, you could have one trade that goes for a really big winner that pays for all the losers and gives you the 250 pips net on top. But is that likely to consistently happen every 5 trades on average? I don't know, I'm not familiar with the systems mentioned but it looks a big ask on paper. You need to go and find out what these systems typically do and see how likely these necessary kinds of outcomes are.
  • #16
  • Oct 19, 2021 1:18pm Oct 19, 2021 1:18pm
Quoting Oldtraderman
{quote} Hi, On your quoted stats it doesn't at first look particularly achievable: 250 pips monthly over 5 trades per month requires an average 50 pips per trade with 100% success rate. That's an unrealistic success rate. So, say 3 winners and 2 losers for your 5 trades. Give the 2 losers a bit of a trailing stop benefit and say they lose 50 pips between them. So now you need 300 pips from the 3 winners, that's an average of 100 pips per trade. Given you are on a 50 pip trailing stop it means they need to go 150 pips in profit before falling back...
James16 suddenly disappeared ( along with those helping him) from his site, which is now dead ,apart from the dedicated few ploughing a lonely furrow. 'Jacko' disappeared amid claims of alleged dishonesty leaving many angry investors without funds.
every Saint has a past. Every Sinner has a Future
  • #17
  • Oct 19, 2021 3:52pm Oct 19, 2021 3:52pm
Quoting turnip15
{quote} James16 suddenly disappeared ( along with those helping him) from his site, which is now dead ,apart from the dedicated few ploughing a lonely furrow. 'Jacko' disappeared amid claims of alleged dishonesty leaving many angry investors without funds.
Hi turnip15,
I don't know anything about Jacko; quite a long time ago now I did have a look at the James16 thread as it was generating so much comment. I have to admit I couldn't really understand clearly what the stategy exactly was and so I stopped looking.

I'm more aligned to the Albert Einstein line of thinking that,"If you can't explain it to a six year old, you don't understand it yourself." Every time I start reading either excessively complex or excessively nebulous methods I tend to switch off. Trading is not rocket science, any solid method should be clearly explainable in concise, simple language.
  • #18
  • Oct 20, 2021 4:26am Oct 20, 2021 4:26am
Quoting Oldtraderman
{quote} Hi turnip15, I don't know anything about Jacko; quite a long time ago now I did have a look at the James16 thread as it was generating so much comment. I have to admit I couldn't really understand clearly what the stategy exactly was and so I stopped looking. I'm more aligned to the Albert Einstein line of thinking that,"If you can't explain it to a six year old, you don't understand it yourself." Every time I start reading either excessively complex or excessively nebulous methods I tend to switch off. Trading is not rocket science,...
Amen to that
every Saint has a past. Every Sinner has a Future
  • #19
  • Mar 6, 2022 1:35am Mar 6, 2022 1:35am
Quoting Scotty2Cues
Hi, Newbie to trading (5 weeks), Read J16 and now Jackos strategy - loving it!! Is an average of 250 pips profit per month realistic using one of these strategies, say 3-5 trades per month? Using a 50pip trailing stop and risking 2% of capital it works out 10% profit per month. Thanks!
Calculating these statistics is so easy but the reverse is in reality. When a trader has a monthly target like 250 pips, it creates a mental pressure in him to chase this target. In fact, it is also seen that traders forcefully make an entry even when there is no entry point. So, ultimately these targets work as a mental barrier and are known as disadvantage. So, I suggest not keeping such any target in mind and wait for opening a trade until you have a good entry point.
  • #20
  • Mar 7, 2022 1:36am Mar 7, 2022 1:36am
its a very fine reply but one thing i want to add , without setting a target that is really difficult to find a good entry point. mindset is everything in trading life as well real life.
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