How many pips do you need a month to make a living - realistically

[system]

Thanks azzkirk and hoehni the kinda of comments I was looking for. Anymore like this are welcomed.

Thanks

[system]

Yeah its true about lot size, but if your strategy offers more pip profit per month you can use a lower lot size and make more money.

For example if at £1 a pip:
Strategy that provides 500pip a month = £500 a month
A Strategy that provides 100pips a month at £1 a pip = £100 a month

So I like higher pip profit strategies so
500pips at £10 a pip earn £5000 a month etc

But that’s just my feelings and strategy I like using.

But it was good to know I’m not the only one.

[_bob]

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.

Hostile or just plain honest bro? Will quite happily sugar coat everything for you if you like. Trading is such a lonely game and you will need to learn much if not everything by yourself regardless of the wealth of information that is available. Each and everyone’s trading style is personalized and unique. That’s why the question you ask is in reality void. I trade the 70 tick chart, make 5 to 10 pips a trade and with my MM that represent 2% to 5%. If I get a trade on at a news event this can shot up to 25+%. But man my hearts a pumping and the adrenalin is flowing. And I love it. But my trading style and plan won’t suit 95% of traders out there. But its what you have to do if you want to make a living out of forex. If your here to protect and grow your investment then its a different ball game and what I make in a trade you would be happy if you made in a month. It comes down to your own personal goals

As for strategy bro, what are you afraid off in sharing. First there is not a one strategy fits all out there and secondly, even if you published it in a newspaper most traders wouldn’t have the discipline to follow it. From the sound of it your stategy would not meet my goals. Focus on the process not the result my friend.

[Don_xyZ]

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?

Yes, I agree with you… generally, the amount of pips is correlated directly with the lot size that the trader is using. The smaller the lot size the bigger the amount of pips IMHO.

The best way is to use risk to reward ratio… this way you don’t have to worry about your pips and only focus on your strategy/entry. Dynamic SL & TP is a great way to go.

[Betty333]

I am newbie in trading so my target per day won’t be too high. I just targeted about 10-30 pips daily, usually I got 15-20 pips.

[traderbary]

At a dollar a pip I need 5000 pips a month at $10 a pip I need 500 pips a month and at $20 a pip I only need 250.

[peeterwoolf]

Hostile or just plain honest bro? Will quite happily sugar coat everything for you if you like. Trading is such a lonely game and you will need to learn much if not everything by yourself regardless of the wealth of information that is available. Each and everyone’s trading style is personalized and unique. That’s why the question you ask is in reality void. I trade the 70 tick chart, make 5 to 10 pips a trade and with my MM that represent 2% to 5%. If I get a trade on at a news event this can shot up to 25+%. But man my hearts a pumping and the adrenalin is flowing. And I love it. But my trading style and plan won’t suit 95% of traders out there. But its what you have to do if you want to make a living out of forex. If your here to protect and grow your investment then its a different ball game and what I make in a trade you would be happy if you made in a month. It comes down to your own personal goals

As for strategy bro, what are you afraid off in sharing. First there is not a one strategy fits all out there and secondly, even if you published it in a newspaper most traders wouldn’t have the discipline to follow it. From the sound of it your stategy would not meet my goals. Focus on the process not the result my friend.

Lonely game? Maybe not so much, we have babypips forum, don’t we?

[blackwolfwins]

I would say you’re doing GREAT at 50-100 profit per day. OR you could just trade Binary Options like me. MUCH better if you don’t have 5 figures to start with.

[FOREXunlimited]

I would say you’re doing GREAT at 50-100 profit per day. OR you could just trade Binary Options like me. MUCH better if you don’t have 5 figures to start with.

If you’re referring to 50-100 PIPS profit per day, I’d completely disagree as that being an accurate measure of someone doing “great” vs “not-so-great”.

Pips are an absolutely meaningless measure of a trading systems’ pure profitability on their own.

Trader A can make 100 pips a day, which is equivalent to 2% ROI.
Trader B can make 10 pips a day, which is equivalent to 2% ROI.
Trader C can make 30 pips a day, which is equivalent to 6% ROI.