What is a good weekly goal?

Hello,

I have heard people with such low goals. While I have seen many people making a living from trading, in less than a year.

So, how many pips per week can make a trader within the 10% of successful traders.

My guess is that a professional trader should be able to make between 100 to 300 pips per week.

Please dont throw hate, since I am trying to get a sincere answer.

Hey I am still in demo account, but i think can do 30-40 pips per day…

I’ll try not to sound belittleing - but that really means nothing ! It all depends on your trading style and timeframes and drawdown maximum and Stop-loss distance and money management.

We have a trader on the forum who doubled his real (but small) account by multiple bets and fairly aggressive money management by scoring LESS than 100 pips in total ! - would he repeat that with say $100,000 account ? I say that is not going to happen because the guy is a real trader with a brain !

Other people can make a profit of 500 pips most weeks - yet they only profit a few $'s and also have quite large “drawdown weeks” !

As a newbie, or even an “Intermediate”, your first concern should be to lose as little as possible during the week on any single gamble !

By the time you can say “I have more money in my account on Friday night, than I had on Monday morning” - regularly, then you are on your way ! (But there are significant Caveats ! )

I hope that helps ?

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I think that that is the the wrong measure. It is very rigid and doesn’t tell you anything about the resulting PnL which would depend on lot size, for example I have taken higher profits on trades with shorter pip moves.

If you are going to set a weekly goal then I would suggest that it is a soft target and based on PnL. A soft target to ensure that you are trading based on favourable prevailing market conditions only rather than on hitting an arbitrary goal.

Great advice from @Falstaff.

Forget about how many pips you can make daily/weekly/monthly.

Identify and execute optimal/low risk setups while focusing on capital preservation instead of profit.

Good luck and happy trading :slight_smile:

True that. Even i keep weekly goals to optmize my risk reward-ratio in the best possible way.

Jorgemontero,
To be successful, you don’t have to make 100 to 300 pips a week if that is what you perceive that professionals make around that much a week. You could consistently make 1 pip a day and be considered a successful trader. For instance, if you used a standard lot (100K), which would equate to $10 for each pip move and there is around 260 trading days in the year (525=260), then you would make a profit of $2,600 for the year (26010=2,600).

Until you pay $7 commission for the trade, A spread of 5 points and suffered a 2 point slip. Stacy’s mom needs someone whom knows how to pay the bills.

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Falstaff and Ropunzel are completely right

both weekly goals, and goals measured in terms of numbers of pips, are inappropriate and misguided

quite a bit of what’s posted in the forum about goals, in general, is actually pretty misguided - forex trading isn’t about how much you can make, it’s about how you learn to manage risk

one of the reasons for the 95% failure rate is that so many people think in terms of weekly goals

apologies for telling it like it is

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I think that is a very subjective thing, that depends on one’s level of skill, available time to trade, account, etc. There’s no right answer to fit everyone.