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

  • #81
  • Jul 5, 2013 2:00am Jul 5, 2013 2:00am
Quoting Patrik_Forex
{quote} Wha did you mean?
Ok, say I make 1000 pips then lose 900 in a week, then I am 100 up. Is that good? That is extremely high risk and is more down to luck than judgment. What I am saying is I would rather just earn 10 pips with no loss.
  • #82
  • Sep 17, 2016 8:14am Sep 17, 2016 8:14am
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The aim is to know how much pips you can generate. The amount of pips one can generate demonstrate a trader's trading concepts/skills.

Next, comes the issue of money and risk management. If your EA is good with above 70% win ratio and with good lots allocation, the rest is easy. Just a matter of managing it according to one's risk appetite and the DD one can tolerate to maxmize the return.

So focus on building a strong trading theory and aim for high entry/exit accuracy in trade execution...the rest (such as results, pips and money) will follow suit.
  • #83
  • May 2, 2017 7:34am May 2, 2017 7:34am
According to me, successful traders mean which traders can earn regular money here whatever percentage it is! In addition, I have seen pro are careful on trading discipline issue, so they don’t face unexpected lose or huge income in a trade, they move according to their trading plan! By the way, right now my monthly return is only 8-10%.
  • #84
  • May 2, 2017 7:51am May 2, 2017 7:51am
50 to 100 pips weekly !
  • #85
  • May 3, 2017 5:18am May 3, 2017 5:18am
I don't think success is just a matter of pips, lot size also matters very much. A scalper may not make a lot of pips, but if they're good at what they do they could still be pretty successful.
  • #86
  • May 6, 2017 9:07pm May 6, 2017 9:07pm
Personally, I know many pro traders but they are very silent! They don’t like to talk about their trading strategy and their feedback! But, it’s sure, they earn really massive! Till now I am learning and updating my trading skill, and last monthly feedback was only 6%; yes it’s not a healthy percentage but I am quite happy on it!
  • #87
  • May 7, 2017 1:46am May 7, 2017 1:46am

  1. How many pips does a "successful" trader collect weekly?
  2. Attached Image (click to enlarge)
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  3. With that being said... Did you achieve your purpose? Are you profitable?

  • #88
  • Jul 28, 2017 1:06pm Jul 28, 2017 1:06pm
Can be 100 pips almost. But I never found any successful trader who counts his success by earning pips. By the way , there is any different between successful and professional trader ? I think they are same but what you think ?
  • #89
  • Jul 28, 2017 8:08pm Jul 28, 2017 8:08pm
Wtf, 400 pips a month? So many pipe dream topics like these.

Not a single losing week or month in an entire career of a trader. Are you kidding me?

If a trader can get consistent monthly positive return, be it just 1% or 40 pips. It is already decent enough.
'For the market to work, it needs people who think that they can beat it.'
  • #90
  • Jul 29, 2017 5:36am Jul 29, 2017 5:36am
Frankly, as long as a trader's profits are bigger than their losses, I think we can count them as successful traders. Everything else is just details, more or less.
  • #91
  • Jul 30, 2017 4:52pm Jul 30, 2017 4:52pm
How many pips a "successful" trader collects per week depends on their goals. It depends on what they set out to accomplish and if they accomplish it.
  • #92
  • Jul 31, 2017 4:54am Jul 31, 2017 4:54am
What is up with all these pointless profit centred threads?

A successful trader
- protects his capital
- minimizes risk
- uses proper position sizing
- takes only 'good' trades according to his methodology
- follows his rules and manages his trades well
- reviews his trades to improve his trading
- knows his daily/weekly/monthly drawdown limits
- keeps his account alive
- dreams about how many pips he can make a day/week/month/year
'For the market to work, it needs people who think that they can beat it.'
  • #93
  • Jul 31, 2017 5:00am Jul 31, 2017 5:00am
It's all about % drawdown and % gain...pips are completely meaningless
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #94
  • Jul 31, 2017 6:25am Jul 31, 2017 6:25am
I wouldn't know what pips I've made. My trades are always different lot sizes, so 1 pip on one trade will be worth more/less than 1 pip on the next trade. So a 50 pip trade could earn more than a 100 pip trade. 1 lot at 1 pip is going to be worth 100 times more than 0.01 lot at 1 pip.

I've always tracked my performance using % of balance gain/loss per day/week/month/year. It is directly correlated with the account balance and is therefore a meaningful way of tracking my performance. i.e. if I have $1000 account and gain 1%, then I know that it's a $10 gain. If I say I gained 10 pips, it tells me nothing of the gain in relation to the account balance because I don't know how much each pip is worth.

IMHO, a lot of people like pips because 1000 pips sounds fantastic when you read it, but it doesn't tell the whole story. That 1000 pips could represent a $100 gain on a $100,000 account which is a tiny 0.1% return. Not so fantastic sounding now.
  • #95
  • Jul 31, 2017 6:26am Jul 31, 2017 6:26am
Quoting AlastorFate
Wtf, 400 pips a month? So many pipe dream topics like these. Not a single losing week or month in an entire career of a trader. Are you kidding me? If a trader can get consistent monthly positive return, be it just 1% or 40 pips. It is already decent enough.
All depends on how you trade. I know you like to trade by feelings and are often scared out of the market because you don't have an exit strategy, so your results will likely be quite less than a disciplined trader. No worries. Someday you will learn how to trade and gain confidence and do better. Past mistakes are used to improve future results, so with all the mistakes you make, you are bound to get better.
You cannot be extraordinary by being normal
  • #96
  • Jul 31, 2017 6:28am Jul 31, 2017 6:28am
Quoting kenshin
I wouldn't know what pips I've made. My trades are always different lot sizes, so 1 pip on one trade will be worth more/less than 1 pip on the next trade. So a 50 pip trade could earn more than a 100 pip trade. 1 lot at 1 pip is going to be worth 100 times more than 0.01 lot at 1 pip. I've always tracked my performance using % of balance gain/loss per day/week/month/year. It is directly correlated with the account balance and is therefore a meaningful way of tracking my performance. i.e. if I have $1000 account and gain 1%, then I know that it's...
Pips are a measurement of performance. Percentage is a measurement of risk. Two different things. I concentrate on the process of trading, not the profit. Profit is whatever I want to input into the process. I need pips to make profit, so that is the focus. As long as I keep making pips, I keep making money. The pips need to be consistent so that the money can be consistent.
You cannot be extraordinary by being normal
  • #97
  • Jul 31, 2017 6:34am Jul 31, 2017 6:34am
Quoting dkrock
{quote} Pips are a measurement of performance. Percentage is a measurement of risk. Two different things.
How can tracking pips be used as a performance metric when it's possible to gain pips while losing balance and vice versa?
  • #98
  • Jul 31, 2017 6:40am Jul 31, 2017 6:40am
Quoting kenshin
{quote} How can tracking pips be used as a performance metric when it's possible to gain pips while losing balance and vice versa?
How do you gain pips and lose balance? That makes no sense. You have to cover your spread, duh, but after that, how does more pips take your money? I am at net 64 pips so far today on the pair I trade and I guarantee you I am not losing any money.

The reason you track performance is so you can gauge your risk. Since I know I will make 50+ pips everyday on multiple pairs, I know I can risk whatever I want. To this day, I have never made net pips (after covering spread) and lost money. Are you just messing with me??
You cannot be extraordinary by being normal
  • #99
  • Jul 31, 2017 6:48am Jul 31, 2017 6:48am
Quoting dkrock
{quote} How do you gain pips and lose balance? That makes no sense. You have to cover your spread, duh, but after that, how does more pips take your money? I am at net 64 pips so far today on the pair I trade and I guarantee you I am not losing any money. The reason you track performance is so you can gauge your risk. Since I know I will make 50+ pips everyday on multiple pairs, I know I can risk whatever I want. To this day, I have never made net pips (after covering spread) and lost money. Are you just messing with me??
Not messing. I've probably got it wrong because I don't track pips.

What about this theoretical scenario:

Trade 1
--------
0.01 lot - 100 pips take profit - 10 pip stop loss - I win this trade therefore I have gained 100 pips and $10

Trade 2
--------
1 lot - 100 pips take profit - 10 pip stop loss - I lose this trade therefore I have lost 10 pips and $100

Result
-------
I have gained 90 pips but lost $90
  • #100
  • Jul 31, 2017 7:00am Jul 31, 2017 7:00am
Quoting kenshin
{quote} Nope I've probably got it wrong because I don't track pips. What about this theoretical scenario: Trade 1 -------- 0.01 lot - 100 pips take profit - 10 pip stop loss - I win this trade therefore I have gained 100 pips and $10 Trade 2 -------- 1 lot - 100 pips take profit - 10 pip stop loss - I lose this trade therefore I have lost 10 pips and $1000 Result ------- I have gained 90 pips but lost $990
First, you said scenario. Why would you trade so haphazardly? If you do not know your capability, then you don't need to risk any money. You need to go back to demo and learn your average win/loss so you can gauge your risk.

Second, you are talking about money being risked. So? You lost because you didn't make any pips. What if you did the opposite of your scenario? What is your point? You need to know how to make pips before you risk any money. Those pips determine your consistency and your risk management plan.

Many people trade historical lines, so they cannot risk much money per trade because each trade is a guess. So, you would not have a business plan that risks 1 lot sometimes and 0.01 lots other times. You are either consistent, or you are not.

Again, you are talking theoretical, scenario nonsense. And you still haven't explained how you gain pips and still lose?? Is your answer by losing overall? That is two different trades. One won. One lost. You did not gain pips and lose. You lost a trade where you risked more money and didn't make the pips. If your lot sizes were equal, based on your ability and account size, then you would have made money.

Pips are a measure of movement. Think of them as feet, or meters. It is how far price moves from your entry to your exit. Risk is how many pips you made after paying the spread, times the amount of money you bet. Your lot size has nothing to do with how far price moves, or in which direction.
You cannot be extraordinary by being normal
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