is 30 to 50 pips profit excellent in a day? | Forex Factory

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is 30 to 50 pips profit excellent in a day?

  • #1
  • First Post: Jun 14, 2009 5:21am Jun 14, 2009 5:21am
I just wanted to ask all of you if 30-50 pips profit in a day in one currency pair for example eur/usd is excellent?
  • #2
  • Jun 14, 2009 5:37am Jun 14, 2009 5:37am
Quoting bksujal
I just wanted to ask all of you if 30-50 pips profit in a day in one currency pair for example eur/usd is excellent?
If you can do it consistently...

5 pips a day if you can do it consistently is excellent.
The trend always ends.
  • #3
  • Jun 14, 2009 6:38am Jun 14, 2009 6:38am
Quoting bksujal
I just wanted to ask all of you if 30-50 pips profit in a day in one currency pair for example eur/usd is excellent?
The fact that you asked this question leads me to believe that you will not be making that on a regular basis.
Economists have forecast 9 out of the last 5 recessions
  • #4
  • Jun 14, 2009 6:55am Jun 14, 2009 6:55am
Actually pips don't mean anything. You can make a living with only 1 pip per day.
  • #5
  • Edited 7:11am Jun 14, 2009 6:59am | Edited 7:11am
Quoting Xaron
Actually pips don't mean anything. You can make a living with only 1 pip per day.

Bingo. But it's probably hard to get a decent Risk:Reward Ratio when your Target is only 1 Pip.
  • #6
  • Jun 14, 2009 7:11am Jun 14, 2009 7:11am
Quoting Tjpld
Bingo. But it's probably hard to get a decent Risk:Reward Ration when your Target is only 1 Pip.
Of course you're right. Not the way I would trade...
  • #7
  • Jun 14, 2009 8:36am Jun 14, 2009 8:36am
Quoting markmm
The fact that you asked this question leads me to believe that you will not be making that on a regular basis.
Umm i started making tht recently but wanted to knw if tht is good
  • #8
  • Jun 14, 2009 8:37am Jun 14, 2009 8:37am
Quoting Xaron
Actually pips don't mean anything. You can make a living with only 1 pip per day.
boy but for tht wud need a very high deposit in the account
  • #9
  • Jun 14, 2009 10:08am Jun 14, 2009 10:08am
Quoting bksujal
boy but for tht wud need a very high deposit in the account
Or a very low standard of living.
A friend of mine went to Cameroon a year ago for some time.
As a teacher you get about 60 Dollars a month.

Most kids get more pocketmoney from their parents.
  • #10
  • Jun 14, 2009 11:06am Jun 14, 2009 11:06am
Quoting Xaron
Actually pips don't mean anything. You can make a living with only 1 pip per day.
Maybe you can, or if you include the spread, and if you happen to live in india.
  • #11
  • Jun 14, 2009 11:28am Jun 14, 2009 11:28am
Quoting bksujal
Umm i started making tht recently but wanted to knw if tht is good
Ok, it is good.
Economists have forecast 9 out of the last 5 recessions
  • #12
  • Jun 14, 2009 11:44am Jun 14, 2009 11:44am
Quoting bksujal
Umm i started making tht recently but wanted to knw if tht is good
Whether or not it is excellent depends on your risk profile and expectancy. If you are making 30 pips a day risking only 10, and can do it consistently (i.e. months in a row), then I would say it is excellent. If you are making 30 and risking 30, and aren't able to do it day-in and day-out, maybe it's not so excellent
  • #13
  • Jun 14, 2009 11:57am Jun 14, 2009 11:57am
I worked out awhile back that I needed 200pips per week so 40pips per day average then up my Lot sizes to $3 so I could live off it and keep growing the account within my 3month target.

Ofcourse I slipped back to losing but thats life, back profitable and hoping for more and time wasted.


But yeah I could live the high life on 30-50pips per day average without any major losses, $10 per pip $400 per day ( £250 UK ), $8000 per month ( £5000 )

The only remaining question is why aren't I.

And you could trade at $100 I believe just as easy as $10 per pip with a full account, so £50,000 per month LOL

Answer your question, it seems so easy doesn't it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #14
  • Jun 14, 2009 12:14pm Jun 14, 2009 12:14pm
Compared to b/e, it's good.
Compared to losing 30-50 pips/day, it's excellent!
  • #15
  • Jun 14, 2009 12:22pm Jun 14, 2009 12:22pm
Quoting pqt
Compared to b/e, it's good.
Compared to losing 30-50 pips/day, it's excellent!

I only make @30pips all last week ( barely traded ) and it's made my weekend

Didn't risk trading Friday on the fear of ruining it!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #16
  • Jun 14, 2009 1:44pm Jun 14, 2009 1:44pm
Depends of your SL and your risk/trade...

If your SL is 30-50 and your risk/trade is 2% then yes this is enough but you have to have more than 50% success rate to actually make money.

If your SL is 20 and you make 40 and your risk/trade is 2% then you make money with only 33% success rate.

Pips doesn't mean anything. I had trade making 350 pips but rewarding only 4% of my equity and trade making 100 pips but rewarding 6% of my equity.
  • #17
  • Jun 14, 2009 4:30pm Jun 14, 2009 4:30pm
Quoting bksujal
I just wanted to ask all of you if 30-50 pips profit in a day in one currency pair for example eur/usd is excellent?
Yes it is, but only if you can do it consistently.
  • #18
  • Jun 16, 2009 4:30am Jun 16, 2009 4:30am
Earning 30 to 50 pips profit already good enough for a single day to me. You have to remember that greed is one of our worse enemy.
  • #19
  • Jun 16, 2009 6:43am Jun 16, 2009 6:43am
Quoting ForexBoy
Earning 30 to 50 pips profit already good enough for a single day to me. You have to remember that greed is one of our worse enemy.

FB remove your promotion link or you will be banned.
  • #20
  • Jun 16, 2009 11:36am Jun 16, 2009 11:36am
Like others said, yes and no...it depends.

You can be:
-trading one mini lot @ $1 a pip and live on the cheap.
-trading 10 100k lots @$100 a pip ,have 3 ex-wives, a yacht lease,three mortgages,and ten car payments- it's not enough.

Consistently? Who cares if your pip value is high..trade when you want...trade all 3 time zones for a month,then go on holidays.
Do whatever is good for you.

If one is good enough to get many pips,it isn't greed to pile on more lots...just common sense.

Greed is when you trade only for the money,not the fun and challenge of it.
The harder I work,the luckier I get.
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