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How many pips does a "successful" trader collect weekly?

  • #41
  • Jul 2, 2011 10:56am Jul 2, 2011 10:56am
Quoting kingsurfer
Wisdom.
+1
  • #42
  • Jul 2, 2011 11:03am Jul 2, 2011 11:03am
Quoting diallist
Merlin, you keep saying that, and the light grows less dim each time, but I still don't quite get what you mean about the irrelevancy of pips. I've heard you and others say, "it's not the pips, it's the dollar value of the pips". That phrase really bothers me because the first thing that comes to my mind is "Oh Wow! Pile on the leverage so I can get $1000 a pip!!!" I know this is not what is meant but it sure comes across like that and I'm concerned it might be harmful to newbie traders. That said, could you expand on the irrelavency of...
Hey, sorry for this if your question is already answered.

But just think of everything in terms of % of account risked vs % of account profit target. So no matter how many pips your trades make, a loser will always lose, say 1% of your account, and a winner will always win, say 2%.

In my opinion the only time specific pip amounts can be counted is if you have specific pip targets and stops. IN that case, your percentages will also be the same all the time.
  • #43
  • Jul 2, 2011 5:51pm Jul 2, 2011 5:51pm
Quoting M256
You are completely right. I'm familiar with professional traders who make about 10 pips a day. And it really doesn't matter, because these 10 pips, while translated to money, equal a decent percent of their account.
I'd be more than happy to consistently average 10p per day on short time frames. If I trade 1000 euro account averaging 10 pips per day and 10 pips stop loss on each trade and risking 2% per trade, compound interest will give me well over 100 000 euro at the end of this year and a billion after less than three years
  • #44
  • Jul 2, 2011 6:39pm Jul 2, 2011 6:39pm
5,200 pips trading GBPJPY is not the same is 5,200 pips trading EURUSD.

A pip IS NOT A PIP. It is very dependent on the pair, because stops must be higher on higher volatility pairs, thus the bets smaller.

Quoting cilvurfx
Personally, I am contented to declare that a triumphant trader may accumulate up to 100-pips weekly. Apparently some of you believe that is high.
  • #45
  • Jul 2, 2011 7:11pm Jul 2, 2011 7:11pm
The amount of pips in itself has no direct connection to profitability of the trader. 100 pips a month for a scalper may be 10 times as much in terms of profit than 1000 pips for a swing trader (it is not to say that scalper will have easier time making his profit that a swing trader his).

@tdion - sorry for leaving the topic, but I just love your avatar. Music of my youth, which will never get old for me
  • #46
  • Jul 2, 2011 7:15pm Jul 2, 2011 7:15pm
Yes, I think I shall be 90 and still listen to "Have a Cigar"

@tdion - sorry for leaving the topic, but I just love your avatar. Music of my youth, which will never get old for me
  • #47
  • Jul 2, 2011 11:21pm Jul 2, 2011 11:21pm
yes its not about pips its about how much per pip or how much percentage gained per month.
  • #48
  • Jul 2, 2011 11:46pm Jul 2, 2011 11:46pm
Debatable.

Quoting Robot
how much percentage gained per month.
  • #49
  • Jul 2, 2011 11:53pm Jul 2, 2011 11:53pm
Quoting tdion
Debatable.
I don't want to debate with you old man!!! leave me in peace
  • #50
  • Jul 2, 2011 11:58pm Jul 2, 2011 11:58pm
Wow, robot.... those stats are pretty crazy! (linked on your signature)
  • #51
  • Jul 3, 2011 12:25am Jul 3, 2011 12:25am
Quoting tdion
Wow, robot.... those stats are pretty crazy! (linked on your signature)
yea im one of a kind
  • #52
  • Jul 3, 2011 1:03pm Jul 3, 2011 1:03pm
I think just consistently 10 pips a day (total gain reduced by total loss) with compounding your lot size will compound your balance.
  • #53
  • Jul 3, 2011 1:26pm Jul 3, 2011 1:26pm
As I already calculated several posts up - 10 pips a day can make you a billionaire in no time
  • #54
  • Jun 27, 2012 10:15am Jun 27, 2012 10:15am
Ive been reading this with interest.. here is were i Stand.

I have a full time job and after taxes I earn 46gbp per day for an 8 hour day.

Ive been trading Brend Crude CFDs recently and I have been able to make between 70 - 80 pips per day on average.

On Oanda FX TRADE, with a Account balance of 500gbp, I can trade at 1gbp per pip.

With 70-80 + pips a day to cover capital gains tax. I can break even on my daily wage and not incure the costs of travel, I wouldnt have to listen to rude people on the end of the phone and deal with my boss who is a relic of the company i work for. I hate customer service. Its time for a career change lmao

Tempting much.
  • #55
  • Jul 4, 2012 5:06pm Jul 4, 2012 5:06pm
I have also found this interesting.
Personally, I don't have a pip goal each week or month, as this may cause over trading when there are not many set ups. Conversely, it may cause us to miss big opportunities just because we have already achieved our pip goal and decide to call it a day/week/month when there are more pips to be had.
My own goal is to simply analyze the market for set ups and do my best to take what is kindly provided by the market.
There will be lean times of very few set ups and good times when there are plenty and they will make up for each other in the end.
We cannot "work" the market with advertising and promotion like in a regular business to "create" oppirtunities, I simply do my best to take them as they cone along without trying to "force" the market.
Less stress this way.
Come with me if you want to live....
  • #56
  • Jul 5, 2012 12:30am Jul 5, 2012 12:30am
Quoting cilvurfx
Personally, I am contented to declare that a triumphant trader may accumulate up to 100-pips weekly. Apparently some of you believe that is high. That may well be for several reasons but we're not going to get into that now.

So, I am interested in getting feedback from all of you. I would like to hear what YOU believe the average, full-time trader might gather (+pips) weekly...presuming he/she has:[list=1][*][font=Arial][size=3]A...
i personally feel that 150 pips per week is a very good going. within these pips one can easily make 6-9% profit per month. i always try to catch 20-25 pips per day to meet my requirements.
  • #57
  • Jul 7, 2012 3:56pm Jul 7, 2012 3:56pm
I take depending on market, and that is tottally unpredictable.
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  • #58
  • Jul 10, 2012 10:25pm Jul 10, 2012 10:25pm
How would you adjust this 2% risk for the general probability of a trade?
i.e, if a certain system has a 90% win rate, do we increase the 2% overall risk of the account? If it has a 10% win rate do we decrease it?

Is there a general formula for this?

Very educational thread.
  • #59
  • Jul 16, 2012 12:05pm Jul 16, 2012 12:05pm
Quoting cilvurfx
Personally, I am contented to declare that a triumphant trader may accumulate up to 100-pips weekly. Apparently some of you believe that is high. That may well be for several reasons but we're not going to get into that now.

So, I am interested in getting feedback from all of you. I would like to hear what YOU believe the average, full-time trader might gather (+pips) weekly...presuming he/she has:[list=1][*][font=Arial][size=3]A...
Its not important how many pips successful trader will make per week .. its important how much money will make Because successful trader can be intraday trader, longterm trader, scalper, swing trader etc. and each strategy has different potencial in pips profit .. And how much money can make successful trader per week at average? Thats not clear too .. for somebody success is 1000 $ per week and for another trader 100 000$ per week .. remember, sky is the limit!
  • #60
  • Jul 16, 2012 12:20pm Jul 16, 2012 12:20pm
Quoting price trader
Its not important how many pips successful trader will make per week .. its important how much money will make Because successful trader can be intraday trader, longterm trader, scalper, swing trader etc. and each strategy has different potencial in pips profit .. And how much money can make successful trader per week at average? Thats not clear too .. for somebody success is 1000 $ per week and for another trader 100 000$ per week .. remember, sky is the limit!
I agree with you to the fullest.
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