What's a good pip goal per month? - Page 4
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  1. #31
    Join Date
    Aug 2012
    Posts
    2
    shalom my brother my family lives in dimona isreal.i currently live in America Atlanta ga. i''m also at the beginning stage of trading.I've been through the entire babypips school.now I need a crash course to get started.

  2. #32
    Join Date
    Aug 2012
    Posts
    14
    I agree that the focus should be Dollar profit not pips... but in my humble opinion, not right from the outset. First, the chances that you are going to make money as a novice trader (assuming you are a beginner) with perhaps ur first second third even fourth live micro account (if ever) is almost none to zero. Your knowledge base and experience is simply nowhere near enough to be consistently profitable at the very beginning of ur trading career - unless of course u have the luxury of a mentor/pro with whom u can consult and advises you on ur trades on a regular basis. Most of us don't.

    Now from my limited experience I I have found the Pip count to be the most effective and simplest way in which to measure my performance. BUT with one proviso: Your lot sizes must remain the same over a stipulated period, otherwise your pip count would essentially be rendered meaningless.

    My focus at present is purely to get the basics absolutely right viz. Risk and money management, Reward to Risk ratios, discipline,trading psychology etc...So not unlike a science experiment I'm keeping one variable constant i.e Lot sizes and subsequently- at a glance - I can evaluate my performance purely in terms of pip P//L. If my pip count is positive I know I'm making money; negative, I'm Losing money.

    Also from my pip count I can easily determine with which currency pairs and at which times of the day I have a higher success rate. Potentially vital info as your trading strategy may be better suited to certain currency pairs and to certain trading sessions.

    That said I will indeed focus on the $$$ in not too distant future, in which case I can end up with a negative pip count but still make a dollar profit. In other words pip count would become irrelevant. I'll arrive at this point I believe only once I've developed a greater skill set over time and with a lil more experience.
    Last edited by Shinshiro; 10-17-2013 at 05:56 AM.

  3. #33
    Quote Originally Posted by mac1220 View Post
    Hello,

    I'm new to this forum, and relativly new to the forex, but here is my 2 cents...

    My goal set is this...

    Double my money every 2 months.
    To do this, I need to make approximately 12.5, or 13% of my total balance per week.

    With a starting balance of 10k, and trading 25% of that, or 2.5k, here is how it works...

    With a mini account, 200:1 leverage and 10k lots I can trade Eur/Usd at approximately 1.3200, buying 37 lots, I need to make 35 PIPS a week. The Eur/Usd has an average weekly pip movement of 239 pips since March of 2004. Even with 100:1 leverage I need roughly double that which still isnt hard as long as you have a fairly accurate trading ststem and you trade smart and practice good money management, risk vs. reward and all that. Well, that is my plan, let me know what you think, I can always use experianced advise!

    Thanks
    that's my goal too. too bad, I just hit 40% last month. lol that's my 1st trading live. :3

  4. #34
    Join Date
    Sep 2013
    Location
    Nigeria
    Posts
    10
    What's a good pip goal per month?

    2% or more, consistently, is fine by me. The point is consistency, which increases your trading account fund, and profitability. Good luck and good trading to all of you out there!


  5. #35
    Join Date
    Aug 2011
    Posts
    193
    Quote Originally Posted by WHIZKID View Post
    What's a good pip goal per month?

    2% or more, consistently, is fine by me. The point is consistency, which increases your trading account fund, and profitability. Good luck and good trading to all of you out there!

    Yeah, I agree although 3% pips per month would be more preferable.


    Replying to an almost 8 year old thread. Nice guys, real nice.

  6. #36
    Quote Originally Posted by bun View Post
    Yeah, I agree although 3% pips per month would be more preferable.


    Replying to an almost 8 year old thread. Nice guys, real nice.
    if you aiming higher pips. it's quite hard. because market have average movement for the day.
    if you rate return with the capital you put it. it's kinda possible but it's boils down with your emotion. scalping is quite emotion consuming but it's kinda worth it for me.

    if you are 3% a month. I will respect that. but it's kinda slow poke for me. >.<

  7. #37
    Join Date
    May 2013
    Location
    European Union
    Posts
    470
    Quote Originally Posted by Jasek View Post
    Instead of looking at total pips, I would look at % return on your account per month.

    With that said, I think a 2% consistent return per month is a very good goal.
    Wow dude if i put my money in the bank it gives me more.Atleast have some pride, when trading, 2% is just rubbish.My goal would be atleast, ATLEAST 15%/month.Anything over that is fine but 15 is the minimum.

  8. #38
    Join Date
    May 2013
    Posts
    34
    Quote Originally Posted by Proximus View Post
    Wow dude if i put my money in the bank it gives me more.Atleast have some pride, when trading, 2% is just rubbish.My goal would be atleast, ATLEAST 15%/month.Anything over that is fine but 15 is the minimum.
    yes, I agree with you.After all,isn't that why many came to forex trading.

  9. #39
    Join Date
    Jul 2012
    Posts
    116
    Quote Originally Posted by JHaskins295 View Post
    Hello everyone,

    What is a good pip goal to go for every month? How many pips do professionals hit per month? Thanks
    personally i think actually aiming for a number is a bad idea it might lead you to put in trades that arent really a good idea just because you need to reach the quotum.
    Id say ... as many as possible

  10. #40
    Quote Originally Posted by ixs View Post
    personally i think actually aiming for a number is a bad idea it might lead you to put in trades that arent really a good idea just because you need to reach the quotum.
    Id say ... as many as possible
    as accountant, we need the number (rate of return) because it measures the reward and risk associated with the trading. why venture trading if you're unprofitable right? it takes time to learn the trading but it's worth if you come up concepts to win the market. trading offer greater reward than classic deposit rates because you handle the market risk premium.

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