If i start off with $20000. I wish to turn this into $40000 in one year. How many pips would i need a week to get this done with proper risk management etc? What would happen if i kept the "profit in and traded with new gains made, meaning compounding my profits over ten years?
Can this be done?
How many pips depends on your risk. “Proper risk management” means different things to different people, from 1-5% or more. Can it be done? Sure. Will you do it? Who knows?
Without getting in to calculations i think the magic number is 72,so whatever your profit percentage average per year divided by 72.Let say it is 10 percent per year with compounding 10 divided into 72 in 7.2 years it will double your account.(before taxes)
Some quick math, and not altogether detailed, suggests that if you netted +5% every month you’d have about $18k on your initial $10k. How many pips that is depends on what pairs you trade and what lot size you use.
Yes.
Can a person asking that question who hasn’t been trading that long do it?
99.9% no.
This is possible if you are willing to control greed and trade less. 
Regardless of your account balance… if you risk no more than 2% per trade and net 25 pips for the entire week… over the course of a calendar year this equates to over 100% annually. A return of 6% monthly is not too hard and it should be where most traders aim in their beginnings… not “how much money can I make everyday”… which is the industry standard expectation. lol
Here is a suggestion:
Take your 20K divide it into thirds… sit on 2/3 and this is your cushion… not your trade equity. The other 1/3 you use for trade equity… and look for 25-30 pips per week as a net average… if you make it on Monday… you’re off the rest of the week.
If you can do this… atleast for 3-6 months… you will be in the top 15% of traders… it is not an easy task since greed will invite you to trade more and overleverage as well. As you make more… the equity will allow more lots per trade but the % risk will remain the same despite the exponential growth the account can realize.
using a standard 30 pip stop loss one could see these results:
risking 2% per trade: 23 pips per week net annual +100% return on trade equity
risking 1.5% per trade: 30 pips per week net annual +100$ return on trade equity
risking 1% per trade: 45 pips per week net annual +100% return on trade equity
risking [U].[/U]5% per trade: 90 pips per week net annual +100% return on trade equity
In a business where such a vast amount of neophytes get taking to the slaughter… it stands to reason if one made 100% on 1/3 of their total account they would be among the minority as statistics suggest. Now you might say to yourself… that is not sexy… that’s not alluring enough… however, it is precisely how fund managers trade and use asset allocation and risk management. This translates to over 30% annual returns and you never risk more than a half of 1 percent of your total account balance… ever!
Recall while we are risking a maximum, in the examples above, 2% per trade… this is 2% on 1/3 of your total equity… which is a very low risk % and the weekly pip goals are relatively low and very much obtainable… even if you are new to trading, I might add. You simply need to develop the patience and control to stick to it and not deviate.
An annual return of 30+ % smashes most returns for stocks, funds and CD’s… as you learn more and develop as a trader… higher returns are likely and knowledge of the asset class will provide a foundation to provide more trading opportunities and higher returns on average.
Hope this helps!
GLGT
YOUR ARE THE BEST. U TOOK SO MUCH TIME FOR ME! THANK YOU SO MUCH! AGAIN YOUR THE BEST MAN! I HOPE THIS YEAR YOU MAKE LIKE A BLILLION PIPS! lol… 
Well, you see i do this not because i want to make money for cars , houses or for trophy shallow wifes or whatever… I do this because i take this as a serious AIM in my life… I want to make it as a “TRADER” not matter what it takes. NO matter if i have read 500+ books before i even open a demo account. I will do it. I do want to make millions only because i want to prove to my self that i am good enough to make millions , so greed and fear dont come into this. Two things which i simply dont have.
Let’s hope so.
Hey man, why would you start with $20,000?
Why not start smaller, Like $1,000-- compound profits, and adjust lot sizes when your acount allows it…
I can show you a good way, making just 15 trades a day, at 5 pips per trade, and compound those profits…
If your consistant, $100,000 in 30days is possible
Throw down $1000, or even $500, to start. If you fail, your out that much, and not $20,000… Just saying… Unless you have wads of cash and dont really care, thats on you, just a suggestion…
What will happened is you don’t prove that?
only missing a little pesonal proof to show where are you on that 100k in 30 days road, with your good way.
oh, and how come it is possible to lose the account, if it is a good way?
on another note:
compounding is good thing, but OP should still be better if able to trade 20.000$ account with a decent way and proper money management, than trying to gamble his way up…why 20k to start: the profits while taking 1-2% risk per trade should be still at a meaningful amount, ie less chance to go beserk, getting tired of making 5$ or less profit a day on 500$ acccount.
Could you re-state that? I don’t understand your statement…
You don;t have greed or fear? You must be the only person on the planet 
Proving you are a good trader actually comes in the statistics not the money.
The fact you mention millions probably means you have an innnate greed…what a surprise
Dont care for millions, just would like the target to get there… the top things i care about is working hard , loving family and friends but what i dont care about is “bigs massive houses or cars”. I dont mind rididng realy really really cheap car to work , enjoy it and come back to my girlfriend or family , go out with my friends even if it to the local pub or bowling alley or whatever.
I dont care for money… but there is one thing i noticed in my life… its that if i dont have target which i need to full fill then i am unhappy.
I already hold a degree ( first class - the best grade possible) in accounting , I am working towards ACCA ( its called a CPA in America) , i have a masters in business finance from London school of economics and i am thinking of starting a job late next year in 2011.
But right now i am taking a year out. Finding my feet. Also i might start a CFA. Forex isn’t my ticket of out anything. If this doesn’t work out. I might start a business.
Its simply a challenge. To see whether i can conquer this market/ business or not.
I could be rich as hell and still be the happiest or the unhappiest person alive. Money doesn’t bring happiness.
Its simply YOUR world view that people are generally greedy… its not what i have seen all the way through my life…Wealth is so much more than money and yes… i AM greedy for wealth in my life but not for money…
Good luck!
What if I told you that learning trading/forex/futures would be as much work as studying for the ACCA? Could you do both at the same time?
If you set up a local newsagent shop or a restaurant, would your aim be to conquer the entire newsagent/restaurant business? Are you aiming to be the world’s greatest accountant or just get by?
Perhaps…but I do believe it’s an inherent human characteristic.
So, you’re driven, then go for it, but it won;t be an easy path. What are you trying to justify to yourself…whether it can be done? Sure but it’s gonna be a lot to juggle studying an ACCA at the same time. If you got some money to lose over the year then why not…as you say, you can always get a paying job at the end of it…if you;re 100% sure.
Personally, I;d take the year and go travelling
100% ROI a year, makes me laugh, this is easily achievable, 100% a month is possible.
BUT are you prepared for the long road to get there?
Mr friend… I am not in this business to lose money… I KNOW I WILL have losing TRADES… but i WONT lose money… The only thing that will discourage me from learning to trade about forex is well… nothing…
Perhaps you would like to go travelling… But I might do both. Go studying for acca and forex for the year and travel… good idea…
But let me tell you this… i know me… I can do ACCA and forex at the same time. I learn very fast and very quick… I CAN do this so please don’t try and discourage me… because you cant. BTW i am only 23 , so give me a break… lol