How many pips can afford you to be succesful?

Generally i am not so new in the forex and not as experienced as others are but although everything i want to ask one really interesting question for me: "How many pips should a succesful trader earn?, How many pips will a man need to be considered as a succesful trader by you?"


Please do not answer with such contexts: " it depends on your capital or something like that etc etc" I know that every trader has an imagination about "great traders" please show me your great trader!

it's a percent not pips

if you can make % consistently then you are a successful trader

and others say take what the market give you and I agree with them

I dont see myself as a successful or genius or anything else
but

if you want a deduce that you can make money in this market as many new traders want

I say that coz I see many new traders doubt in this after many hits in the market

as my friend who is a successful stock trader, and from 2 months ago he want to try forex, so he opened account and made a plan then he lost 20% of his capital(big amount comparing it to many new traders here)

then he came to me and doubt in forex completely and in me and said this market for banks only and there is no one make any money in this market

my statements didn't deduce anything to him
he was so frustrated and then say I will make a deal with you if you can give my lost money back I will give them to you

I accept and ask to change the broker only
and begin in 8/10 and before the end of October I made more than 100%

if you want to see the statements just tell me

again it's percent not number of pips or money, your balance isnt equal to my balance, you pip value isnt my pip value, etc


a great trader named Adam Sender said
"In the hedge fund business these days, you're having a great year if you make 20 percent."

It really isn't about how many pips you earn. The success of any trading system ultimately boils down to two parameters: its percentage of winning trades p and its win/loss ratio r. If these two numbers give a positive expectancy (1+r)*p - 1 > 0, then all you need is proper money management to be profitable over the long run.

With my limited experience at this time, success to me would be making 200 pips net profit per month. But it is much better to measure in terms of percentages. My target is 10% of my account per month.

IMHO 10% monthly in average is quite well

It is not the pips that makes you money but the lot size you trade. Good Luck

Indeed!
My pips earn me three times the amount when I move from three hour charts to five minute charts. Tighter stops on the smaller time frame means that I can use more of my account and still not risk more than 3% of my equity.
As for targets, I do have them but concentrate on taking what the market gves me not what I want from it.

Number of pips is irrelevant.
Consider these three trades all risking 3%

Trade 1
Stop = 30 pips
Take Profit = 60 pips
Percentage won = 6%

Trade 2
Stop = 100 pips
Take Profit = 200 pips
Percentage won = 6%

Trade 3
Stop = 8211 pips
Take Profit = 16422 pips
Percentage won = 6%

Notice that all trades won 6%, NOT because of the number of pips, which is irrelevant, but because of the reward/risk ratio of 2:1.

If the r/r was 1:1 you would have made 3% on each trade, with number of pips again being totally irrelevant.

It's not about number of pips. It's about percentage change in your account.

And consider this. If you can get 12 winning trades in a row, like the ones above, you will have doubled your account, with an irrelevant number of pips.