What's a good pip goal per month?
Page 1 of 5 1 2 3 ... LastLast
Results 1 to 10 of 49
Like Tree12Likes

Thread: What's a good pip goal per month?

  1. #1
    JHaskins295 is offline Junior Member
    Join Date
    Apr 2006
    Posts
    2

    Default What's a good pip goal per month?

    Hello everyone,

    What is a good pip goal to go for every month? How many pips do professionals hit per month? Thanks

  2. #2
    Join Date
    Apr 2006
    Posts
    4
    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.
    wm247 likes this.

  3. #3
    Join Date
    Dec 2006
    Posts
    6

    Default too small

    2% per month is admirable.

    However more experienced traders can make 10% or more each month consistently.

  4. #4
    parsush is offline Senior Member
    Join Date
    Dec 2006
    Posts
    124
    10% per month means you double your money after a bit more than 4 months. a guy who doubles up in 4 monthes will eventually get ahead of Bill Gates.
    I'd say a consistent 2% is decent. 3% rocks. 5% says you can soon quit your job.

  5. #5
    investor is offline Newbie
    Join Date
    Dec 2006
    Posts
    11
    5% of ... what amount... would that be 5% of 100,000$. Par...are you a full time trader by any chance?

  6. #6
    parsush is offline Senior Member
    Join Date
    Dec 2006
    Posts
    124
    5% of ... what amount... would that be 5% of 100,000$. Par...are you a full time trader by any chance?
    not at all... just do the math.
    even if you have a "lousy" 10k.
    5% - month
    80% - year
    1868% - 5 years
    3300% - 6 years
    6000% - 7 years
    10077% - 8 years
    and I can go on...

    if I could turn 10K into 1M in 8 years, I'd quit my job after 3-4 years and live off compound interest and still get richer. they don't say it's the most powerful force in the universe for nothing...

  7. #7
    investor is offline Newbie
    Join Date
    Dec 2006
    Posts
    11
    Thanks Parsuch,

    Awesome, I'm aimming to make some extra income to a point I can quit a job. I'm eying the forex market as a way out to become fincially stable. I want to make at least 200 - 500$ dollar USD. I have learned so much on this site... are you currently trading the forex market as your living? Any great advice would be great...: )

    thanks,
    Investor

  8. #8
    investor is offline Newbie
    Join Date
    Dec 2006
    Posts
    11
    Wow... I just did the math... if you were to open an account with 10k with a leverage of 100:1, then you would have 1 million dollar as a leverage. So, if you earn 2% consistenly, you would have make 20k a month, which equates to 240k USD a year... that is not a bad job...

  9. #9
    parsush is offline Senior Member
    Join Date
    Dec 2006
    Posts
    124
    indeed. this is what this site is for.
    infact I haven't been trading real money at all. I've been demo trading for a year and just nowadays, I think I'm educated enough to start trading real money, and I finally gained confidance in my trading system. don't mistaken me for expert...
    I'm currently working on a "real" job to have enough captial to start with. in where I live (Israel), it takes a lot of time to get 10k$ since the salaries here are way lower than the american's salaries.
    gp00053 and newfxcat like this.

  10. #10
    colin's Avatar
    colin is offline Newbie
    Join Date
    Dec 2006
    Posts
    88
    Quote Originally Posted by parsush View Post
    10% per month means you double your money after a bit more than 4 months. a guy who doubles up in 4 monthes will eventually get ahead of Bill Gates.
    I'd say a consistent 2% is decent. 3% rocks. 5% says you can soon quit your job.
    Not to be too pedantic (ok, maybe I am), but at 10% per month, you double your money in 7 months, not 4.

    I personally aim for 5-7% a month. Every person's risk tolerance levels are different, so what's the right target for you can be completely different for someone else.

    Most professional money managers are delighted with a 20-30% yearly return and low drawdowns (less than 5%).

    Then you have someone like SoulTrader who is half way to turning 10k into 1 million, with average monthly returns of 18% so far.

    Quote Originally Posted by parsush View Post
    Wow... I just did the math... if you were to open an account with 10k with a leverage of 100:1, then you would have 1 million dollar as a leverage. So, if you earn 2% consistenly, you would have make 20k a month, which equates to 240k USD a year... that is not a bad job...
    Don't get too carried away with the magic of the leverage offered by your broker. Using that full 100:1 leverage is the fastest way to the poor house you'll ever find.

    You have to treat leverage like a double-edged sword. While it has the potential to make you profit from large gains, you can also experience just as large losses. Since one of your main trading objectives should be to preserve your capital at all costs (and if it isn't already hurry up and add it to the list!), then the awesome destructive potential of using too much leverage should be at the forefront of your mind.
    noel heyden and Matteo10 like this.

Forum Sponsors
Page 1 of 5 1 2 3 ... LastLast

Similar Threads

  1. how much is ur income per month from FOREX ?
    By nanak12 in forum Forextown
    Replies: 14
    Last Post: 05-18-2014, 07:28 PM
  2. What can be a real profit per month?
    By Din77 in forum Newbie Island
    Replies: 32
    Last Post: 12-18-2010, 01:33 AM
  3. is 5% per month a good return?
    By pipsodent in forum Newbie Island
    Replies: 3
    Last Post: 01-16-2010, 08:53 AM
  4. Using Oanda what is a good setting for leverage
    By MasterPlan in forum Newbie Island
    Replies: 2
    Last Post: 10-03-2007, 07:09 AM
  5. Is 10% return per month possible?
    By ladex142 in forum Newbie Island
    Replies: 3
    Last Post: 08-02-2007, 05:39 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"Success is getting what you want; happiness is wanting what you get."
Ingrid Bergman