What's a good pip goal per month?

I haven’t done that yet since I am still demo trading but it is definately something I should start doing to see how I do. I have been looking back on my old trades and thinking of ways to improve and that is one of them. I guess would have to split my normal lot size in half to keep the risk the same and when I cashed out one lot I would be trading at half the pip value on the other lot but it’s still better than breakeven like you said.

If you get 10% a month, consistantly. You can set it for a living.
Many traders have net losses, so at least you are winning.

You want to make much more than 10% Resolution is:

  • Increase your initial capital
  • Change your risk reward system (But make sure your system still works for new settings)
  • Or trade bigger lot size ( I do not recommend this. Try not to risk more than 1% of your account in a trade)

You excepted around 200USD a day
Can you tell me what is the initial capital? Try to avoid putting pressure on your lot size to increase profit, this will increase losses.

The valid solution is increasing your capital to increase Profit, given you didn’t change your system rules.

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.

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.

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

[B]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!

[/B]

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. :slight_smile:

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

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.

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 :slight_smile:

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. :slight_smile:

Only if its an upper cap.If you hit your 15% monthly goal on day 3 would you do nothing for the next 19 days? Of course not, if you manage to get that 15% to 50% then your awesome.If you downgrade it to 2-3% then you did something very bad, and stopping trading after you hit your goal would not save you from that disaster, it would happen anyways.

So there areonly 2 possible ways.Either you can trade or not.If you can trade then only time will be an obstacle to your huge cash pile.If you cant trade, then no matter what you do and how you do, you will lose anyway.So i hope everyone “can” trade.But however you must have a minimum goal, since if you can trade anyway you have to make that minimum cash at all costs.

For example if you are a full time trader with a pretty large 50.000-100.000$ account and you dont have a minimum monthly expected profit.And you end up at the end of them month with only 1$ profit, how are you going to pay your bills for that month?

My goal is to get 300 to 500 pips in a month.This target is not easy .I amtryingto gain this .I hope gradually it will be possible .I am not panic about my target.What I geteasily I acceptit.Iavodemotional tradingit isnot the solution toget desired profits.

My target is to aim for about 200 pips at least a week, but i prefer 300.

That is my daily goal haha… (On 5 decimal point broker :))

Then your daily goal is 300 to 500 pipettes not pips :slight_smile:

Acutally i dont really set a goal, or atleast not an upper goal only a lower minimum, that should be atleast 10-15% /month, you cant really measure it in pips but its better to measure it in growth rate %.And yes correct that would be 300-500 pipette not pip but some guys still use the “pips” word there and confuse eachother.So it was only a joke :cool:

[B]To hell with with pip goal.[/B] What matters the most is that my account balance ends up with green at the end. :smiley:

My senior is a professional trader, and aims for 3% - 20% profit every month. It’s actually closer to 3% per month most of the time.

Thank you for saying how long you’ve been demo trading. I have been demo trading for about three months. I read everything I can to learn and I see a lot of comments and writings about getting in and live trading very quickly. I am not a financial novice, I have been an accountant for over twenty years, but I think I should put as much effort into learning for forex as I did for my CPA certification. My percentage of good trades is improving, but I think like you I will be about a year in demo trading while I build up the capital to live trade. As an accountant I saw all sorts of businesses fail from two main causes, underfunding and lack of experience.