Hi,
I just wanted to ask for those who make a living on forex as a primary income, how many pips a month do you need to provide a income.
I know you could theoritically earn 10pips a month,
At £100 a pip and earn £1000 a month.
But that’s not how I like to trade, I prefer my strategy as its provides 600+ pips a month so I can use a lower price per pip.
But what do others use/prefer
Is it better to earn 50pips a month at a higher amount
Or a bigger amount of pips at lower?
Bro, it ain’t about the pips its about money management. 5 pips a day will keep the creditors a bay. My personal style (which most people disagree with) is that when I trade I get in then out as quick as possible but I use incredibly tight SL (5 pips max) Apply 2% risk with a 1:1 R/R and I only need to trade once a week. Most can’t come to terms with the fact that this is all you need to do. Forex dealers are no different to casinos. They make their money by getting you to stay and play. Chasing pips means you have to stay and play and that is a dangerous game
Bob,
I absolutely agree with your strategy as it is similar to what I am doing except I use 50pc of daily atr for my profit target and stop loss. Rr is 1:1 and I risk 2.5pc of my capital on each trade to try and make 10pc profit a month.
With that all said I might spend 5 hours on a Monday looking for that one trade or 40+ by Friday still waiting for that one signal. So I have two accounts, my main account and a micro account which I play and have fun in. When I get in the groove on my play account that’s when I look to trade in my main.
Wow, billi that’s real small pip profit, how much pip do you Do? £100 per pip?
I thought this tiny stop loss would allow the brokers to keep stopping you out.
What time frame do you trade?
How long have you been trading with live money?
What does your risk of ruin table look like?
What’s your drawdown?
What type of leverage do you employ, for each position and across the board, on average?
Is your average win (in pips) > average loss (in pips)?
What’s the expectancy and profit factor of your system?
Do you journal every single trade you make (pre, during, and after)?
How do you manage risk (how do you determine what type of position to put on)?
If you can’t answer every one of those questions, at a minimum, you’re asking the wrong question…i.e. “how many pips do I need to make a month to make a living”.
Just being real.
Jake
That’s true, I have developed 3 strategies that at end of month always profit by at least 300pips.
Its all price action trading, but I like the higher timeframe strategies, so I’m not watching the charts every minute.
Each trade has a fixed profit and stop limit.
So the strategies are scalable.
So pip cost is important.
As long as you have enough margin to trade at that level.
But am interested in what others use?
I have only had two replies.
And sometimes a duck is just a duck. Jake raises some good questions we should all ask ourselves about our trade journey. But its all relative to our own journey and goals. Risking 2% on a 5 pip SL is no different to 2% on a 100 pip SL and at a 1:1 R/R both delivery a 2% return. What you need to find is your own groove, your own style. I found mine working in 5 pip blocks on the 70 tick chart. Someone else might work 100 pips on the daily chart. Either way if we both trade only once a week with the above MM plan we both make 2%. It just becomes a matter of our balance to what that 2% represents
Pick your “most profitable” strategy- can you go line by line and answer my questions?
Sometime, if you ask better questions you’ll get better answers. 
For example, the question [B]“How much money do you need per month to provide an income?”[/B], asked on a worldwide internet forum might not have a simple straight forward answer now would it?
Maybe you should take a moment and think about what feedback you’re really looking for and then try to come up with a better question.
Realistically, you ****ed before at all started with forex …
[B]Question 1, what is good salary for you '. [/B]
Example I earn between $ 100-120 k in year, two months of vacation …
Should I replace this with a forex life, I need between $ 1-2 million,
No warranty sick pay and pension bla bla …
Forex is a passionate hobby for me but I have not the sums required to maintain my lifestyle as simple as that …
Most people will not genders this simple math realistic-piece …
Another thing to trade with 100 K’s no problem for me ,but what happens when the amount is 1000 K and my wife my children depend on what I earn in trading,!!!
I think its a straight forward question:
Are people finding more success with strategies with
Small pip profit and stop loss
Or
With larger 100 pip profit and stop loss
It seems some who comment do not tried trading different strategies?
Please could those who are successful traders tell their profit and stop loss on each trade.
I have had only one real answer saying they use 5pip profit and stop loss.
Again, you’re being too black-and-white here Paul.
Trading FX isn’t something where you’ll ever be able to definitively say “I use a 5pip stop loss and 10pip target for EVERY single trade I make”- that’s not how it works.
Price action will always dictate where stops/limits need to be placed- and no two trades will ever be the exact same.
That being the case, it’s impossible to answer your question in terms of x amount of pips for a stop/target.
Stops/Limits need to be placed around logical support/resistance zones.
There is no way to answer if someone has more success trading “small pip profit and stop loss” vs. “larger 100 pip profit and stop loss”.
New traders get so focused on “pips” that they completely lose sight of what trading is all together.
It’s about the process and the journey, not about the results.
It’s about challenging yourself psychologically and coming out the other end a strong individual.
100 pips to you may be a 1% gain on ROI.
100 pips to me may be a 10% gain on ROI.
Pips are absolutely meaningless by themselves and are the absolute worst measure of a system’s success.
You need to focus on risk management and finding a strategy which works for “who you are” according to your time and capital restraints.
You need around 4k a month for living in US…that’s how much you need to earn Personal income in the United States - Wikipedia, the free encyclopedia
Maybe its just how I think but as long as your trading system gains you say 400pips a month.
That can equal £400 a month at £1 a pip or
£4000 a month at £10 a pip.
Maybe its just me but as long as each month I’m earning pips then I’m happy and the money is scalable according to your trading account balance.
Thanks for everyone’s input.
I’ll stick to my 400-600pip a month strategy then, just was hoping someone may say they find their 20pip a month strategy as successful to tempt me to find a strategy for this method too.
I like finding new profitable strategies and then offering these to others, I actually seem to enjoy finding the next new strategy more exciting then actually trading it???
Is this crazy? Maybe I’ll put up a post regarding that question.
Thanks
Any questions about my strategies please email me on <[email protected]>
Don’t be shy, go ahead feel free to share your successful 400-600pip a month strategy right here for the benefit of all of us.
Otherwise it might look like your whole thread “[I]How many pips do you need a month[/I]” was just a BS scam to pass along your email address. :58:
.
Best off luck bro, you’re going to need it.
I don’t know why some members are so hostile?
Some members are very negative and also some seem to not know as much about trading as they may appear. Real succesful strategies have taken a lot of work and time to find I’m not personally going to just publish it to everyone, only those who appreciate the hard work it takes to find a real strategy would understand that.
I joined baby pips to get some of my questions answered and also to help others not make the same mistakes I did.
I wonder why so many of us fail when we first start with the lack of real support for new traders, we all get told these popular so called working strategies that look great when the results are cherry picked, but as soon as you apply them you see they hardly work.
Seems like you want to put off those who are really trying to help other traders.
Safe and Consistent trading is all about money management.
It all depends on lot sizing… Risk:reward… etc…
I trade for 10 pips a day and i trade only once a day… translates to about 160-200 pips a month. that’s enough for me.
And yea, its not about pips, its about money.
600 pips with micro lots means nothing ($60)… and with strandard lots is a “LOT”! (at least in my country)
Hey paullt 
Since 2007 I make my living in Germany trading forex.
I use daily charts. My SL is always 100 Pip. I trade the seven majors (sometimes 2-3 minors too). Under normal circumstances I make about 400-600 pips a month. It’s a relatively simple thing but it has been more complicated in the last years. 2008/2009 was more volatile
-hoehni-