What is your pip's value?

There were times when I traded with with even 1 cent per pips.

Now, my 1 pips value varies from $1-$5.

Will like to hear you. What is your usual 1 pips value?

I like to trade 3 lots usually on the Euro, Streling and Gold. That's 30USD/pip

Hi Kidspips,

I would like to explain to you the derivation of my 30USD/pip value through the following:

The value per pip that one trades should depend on one's risk profile and balance of account. A prudent value per pip for a trader who has for example USD 100,000 to trade with, should be approximately 30USD/pip. In other words if the currency pair that you are trading is EUR/USD, then it is wise to trade 3 lots (i.e. a volume of EUR 300,000). Accordingly if the balance of your account is USD 1,000 then you should be trading with approximately 30cents/pip (i.e. a volume of 3,000) and so on.

As you may have noticed from the examples given above, the volume traded is 3 times the balance of the account. As you progress throughout your trades and your account balance rises/falls, it is wise to also adjust your volume in order to maintain the 3:1 ratio with the account balance. For example, if you started with USD 1,000 and have made a profit of USD 500, which will now bring your account balance to USD 1,500, then it is prudent that your trades have a volume of 4,500 (1,500X3). Also notice that you pip value will have now increased to 45cents/pip. Should you have made a loss the same principle applies.