Hello everyone,
What is a good pip goal to go for every month? How many pips do professionals hit per month? Thanks
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.
2% per month is admirable.
However more experienced traders can make 10% or more each month consistently.
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% of … what amount… would that be 5% of 100,000$. Par…are you a full time trader by any chance?
5% of … what amount… would that be 5% of 100,000$. 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…
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
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…
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.
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.
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.
Hello,
I’m new to this forum, and relativly new to the forex, but here is my 2 cents…
My goal set is this…
Double my money every 2 months.
To do this, I need to make approximately 12.5, or 13% of my total balance per week.
With a starting balance of 10k, and trading 25% of that, or 2.5k, here is how it works…
With a mini account, 200:1 leverage and 10k lots I can trade Eur/Usd at approximately 1.3200, buying 37 lots, I need to make 35 PIPS a week. The Eur/Usd has an average weekly pip movement of 239 pips since March of 2004. Even with 100:1 leverage I need roughly double that which still isnt hard as long as you have a fairly accurate trading ststem and you trade smart and practice good money management, risk vs. reward and all that. Well, that is my plan, let me know what you think, I can always use experianced advise!
Thanks
Personally I have a goal of 100 pips a week on EUR vs USD. Which I think will be quite easy to achieve with my method I am using. I do not like to use other people’s successes as a measure of my potential, however, my mentor is returning 5%-10% of his capital a week! (On average, of course we all have our slow weeks)
So all I have to say fellows is dream big and work hard and I am willing to bet your wildest dreams will come true.
I think for a beginner, 100 pips is probably good. Given that most of us have lives outside of Forex 
Which I think will be quite easy to achieve with my method I am using.
Care to share your HOLY GRAIL?
I follow Kolachi Method; I am a Kolachi Trader!
I think it is important for newbies to find a method that works for them. Kolachi Method just seems to work for me. I think most newbies go through a stage of bouncing from method to method searching for an easy way to make money. Once the realization occurs that it is hard work then you look for things that suit your personality. Kolachi Method happens to suit my personality. I wouldn’t call it a holy grail I would just call it my trading method of choice. I think with due time most if not all methods can be successful. It is just most newbies lack the discipline to follow the rules of a trading method (opps I think I am plagiarising babypips.com 
Anyhow, my point is don’t jump from method to method because of the promise of success, find a method that makes you happy and that you enjoy using and then I am sure success will follow.
Kolachi trader? what the heck is that?
Forexcranium & Blackcotton,
I was looking for an answer myself so I googled it and found it.
this post is originally taken from http://www.fxfisherman.com/forums/forex-metatrader/trading-systems/637-kolachi-method-trading.html
Kolachi Method of Trading
Name: This Method be called as "Kolachi Method"�
Method:Use 1H chart.Use wma5 and ema21.Use MACD or CCI for better understanding.Place 55 ema, 100 ema and 200 ema on your chart.
Signals:when wma5 changes its slope place the entry.Wait for the pull back to ema21.If it crosses through it then be patient and exit on next change of slope.If it is repulsed then exit as soon as possible preferably with some profit.Repeat the process again on change of slope.
Whipsaws: Unlike other crosses this method has very few possiblilites of whipsaws.The reason being the difference in the period of two MAs.Moreover our entry is not the cross itself but the change of slope of wma5.In case of whipsaw you will see the repulsion of wma5 from ema21 but you have already break even or locked few pips.
Axis: wma5/ema21 has an axis of pullback which is 200 ema.It goes to a cetain level away from it and then it is pulled back for obedience till it is allowed to cross otherway to certain extent.
Comments:
1)You will mostly see that wma5 is repulsed from ema21 on the first attemp mostly.
2)On second attempt it will mostly cross and may be stopped by ema55 which is a strong resistance and support in my system.
3)Once price has breached it then it will face ema100 as next level and the last one is ema 200.
4)Once wma5 has crossed an ema it is usually not the routine that it will cross back the same ema unless it has crossed some other higher level prior to that.
5)Tackle repulsion from ema55 carefully bcoz it means price has equal probability to cross it again as emas have habit of rejecting once atleast.
Legal Info:
1)I have used this system with live account and is very successful.I am not convincing anyone to use it.My intent is to share my knowledge and experience.Decisions in Trading are ones own responsibility.sometimes you need your discretion about deciding entry and exit while looking at MACD,CCI, fibo levels etc.But mostly it is systematic.
2)This material is copy righted.Any copy, reproduction,or use must contain the title as "Kolachi Method"�.
I follow Kolachi Method;I am a Kolachi Trader
If you need details visit my website: kolachitrader.net
after posting it, he posted some remarkable weekly profits (around 700 pips a week).
worth checking, I suppose.
Thanks soardofrue!
And than you wery much parsush for the details!
Worth of trying out!
In a 10 week period Kolachi averaged nearly 600 pips a week and almost 5%+ in equality a week. One of the top Kolachi traders has worked his way up to nearly 300 pips a week. It seems very promising and I am going to stick with it and I would be happy just making a fraction of what Mr. Kolachi does in a week.
And good job parsush, I swear, google is the most underutilized tool of the decade ^^;