Is 100 pips a week possible? | Forex Factory

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Is 100 pips a week possible?

  • #1
  • First Post: Nov 21, 2009 10:23am Nov 21, 2009 10:23am
I'm a complete greenhorn in the Forex game,but i'm studing pritty hard ,and trading a demo account,as if its real money.I will continue with the demo until i'm confident enough that i'm not going blow my account.
I'm making 1 or maybe 2 trades per day with a max of 2% on any one trade.
I've picked up 144 pips since last Wednesday,trading Eur/usd,trading pritty conservatively at that.
I'm just wondering if its a reasonable to expect to be able to pick up around 100 pips a week,every week,when i've become a reasonably trader?
  • #2
  • Nov 21, 2009 12:04pm Nov 21, 2009 12:04pm
Yes, why not?
  • #3
  • Nov 21, 2009 4:02pm Nov 21, 2009 4:02pm
Yes it certainly is possible, trading the H4 I am able to pick up as much as 800 pips a month (about 200 pips a week) so yeah 100 should be a piece of cake.
  • #4
  • Nov 21, 2009 4:10pm Nov 21, 2009 4:10pm
100 a week is easy.
  • #5
  • Nov 21, 2009 4:17pm Nov 21, 2009 4:17pm
haha how easy? like how much time needed to put in daily
  • #6
  • Nov 21, 2009 4:21pm Nov 21, 2009 4:21pm
Quoting Sim
haha how easy? like how much time needed to put in daily
I work for a large trading floor. A 100 a week is a piece of p!ss.

If you want some ideas then go here: http://www.forexfactory.com/showthread.php?t=204646
  • #7
  • Nov 21, 2009 4:27pm Nov 21, 2009 4:27pm
Ah k cheers, yes sorry I mean is it possible like part time, not full time
  • #8
  • Nov 21, 2009 4:28pm Nov 21, 2009 4:28pm
Quoting Sim
Ah k cheers, yes sorry I mean is it possible like part time, not full time
The more time you put in then the more pips you will make assuming you know what you are doing!
  • #9
  • Nov 21, 2009 4:31pm Nov 21, 2009 4:31pm
Cool I can't seem to get past 30/40 between uni time but during summer I had some 300 pip days! can't wait till unis over
  • #10
  • Nov 21, 2009 4:56pm Nov 21, 2009 4:56pm
Quoting Sim
Ah k cheers, yes sorry I mean is it possible like part time, not full time
try trading H4 or higher, you should be able to get 5 mins to check in every 4 hours.
  • #11
  • Nov 22, 2009 3:24am Nov 22, 2009 3:24am
Thanks men,that all sounds very good.
I could probably devote most of my time to this,if its a profitible business.

Regards Arrow.
  • #12
  • Nov 22, 2009 5:09pm Nov 22, 2009 5:09pm
Quoting kalesh
try trading H4 or higher, you should be able to get 5 mins to check in every 4 hours.
thanks, a part of me is considering daily TF due to simplicity, but I feel i'm too undercapitalised for it :/

thank you though
  • #13
  • Nov 22, 2009 5:18pm Nov 22, 2009 5:18pm
Quoting arrowloopboy
Thanks men,that all sounds very good.
I could probably devote most of my time to this,if its a profitible business.

Regards Arrow.
I honestly recommend staring out with $100 or less micro account, and use it as a tool while you continue researching and learning everything you can. Over Summer I was always learning every spare minute of the day and I finally feel it has somewhat paid off, as I know on a totally free day I can make good pips.
  • #14
  • Nov 22, 2009 11:07pm Nov 22, 2009 11:07pm
This is a fatal flaw in the newbie thought process imo.

Pips are not the be all and end all.

It all depends on your SL size and risk. Someone with an average SL of 100 pips and 2% risk who gains 100 pips per week is only a 2% gain.

I use a max SL of 25 for intraday trading and risk between 3-5%. If I make 100 pips in a week I'm looking at a 15-20% gain. Even if I make 50 pips I'm still making 7-10% a week.

Someone could be making 1000 pips a week for all I care but without further info it's pointless.
  • #15
  • Nov 23, 2009 3:41am Nov 23, 2009 3:41am
Quoting DubaiTrader
This is a fatal flaw in the newbie thought process imo.

Pips are not the be all and end all.

It all depends on your SL size and risk. Someone with an average SL of 100 pips and 2% risk who gains 100 pips per week is only a 2% gain.

I use a max SL of 25 for intraday trading and risk between 3-5%. If I make 100 pips in a week I'm looking at a 15-20% gain. Even if I make 50 pips I'm still making 7-10% a week.

Someone could be making 1000 pips a week for all I care but without further info it's pointless.
100 pips equates to 4% per week in my setup,which i would be extreamly happy with.This is using s/l of 40-60 pips and sticking ridgidly to my trading plan.

Thanks for your advise, Arrow
  • #16
  • Feb 6, 2011 6:51pm Feb 6, 2011 6:51pm
Hey arrowloopboy how are you doing on your goal? I also just opened a thread and testing my self how far can get making a minimum of 100 pips a week and see if I can start making a living of it.
Check out my thread here and tell me what u think http://www.forexfactory.com/showthread.php?t=279159
Lybi lydey, lybi vragov.
  • #17
  • Feb 7, 2011 3:34am Feb 7, 2011 3:34am
Its not about how many pips you take, its about how many pips you lose.

Rookies should worry about not losing money before they worry about making money.
  • #18
  • Feb 7, 2011 5:37am Feb 7, 2011 5:37am
Quoting fly22
Its not about how many pips you take, its about how many pips you lose.

Rookies should worry about not losing money before they worry about making money.

Loosing money is part of trading, there is nobody who trades who doesnt experience loosing at some point and for some period of time. Rookies shouldnt worry about loosing, what they need to do is stop throwing in the towel during a small run of losses, or changing there trading criteria everytime they take a loss. Making money takes an edge but regardless of how good that is if you dont understand its limitations you will constantly bleed because your looking for the wrong things.

Pips also should not be a concern. I could outrun a person who makes 600 pips a week with 60 pips by employing through various applications.

RT
  • #19
  • Feb 7, 2011 2:49pm Feb 7, 2011 2:49pm
Interesting read.

I agree: number of peeps made/lost is meaningless without further context.

Also, I would advise against setting such strictly quantitative goals as 100 pips a week, or certain % a week, etc.
It's tempting because you begin to project ahead and salivate at the thought of how large (hypothetically) your account would be a year from now.

However, if you fail to hit that goal for a given week, you may be tempted to "make up" for it by taking bad trades in a hurry.
Market conditions are not always the same. Sometimes there are lots of opportunities, and sometimes there aren't.

Patience is a better tool, believe it or not. You can make a lot more $$$ on one well-thought out, well-placed longer-term trade that you let ripen for 300 - 400 pips than you would sitting in front of a computer screen whole day, with blood-shot eyes, scalping away like there's no tomorrow, and hardly making any gains when everything is said and done.

Regards,
  • #20
  • Feb 8, 2011 6:29am Feb 8, 2011 6:29am
Quoting Razor_trader
Loosing money is part of trading, there is nobody who trades who doesnt experience loosing at some point and for some period of time. Rookies shouldnt worry about loosing, what they need to do is stop throwing in the towel during a small run of losses, or changing there trading criteria everytime they take a loss. Making money takes an edge but regardless of how good that is if you dont understand its limitations you will constantly bleed because your looking for the wrong things.

Pips also should not be a concern. I could outrun...
Wrong, they should worry about it. Thats pretty wreckless to give advise saying not to worry about it. Im not saying they shouldnt worry about the mental side, but you should ALWAYS worry about losing money. Thats proper money managment.
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