Resolved Question
How many pips can a professional take in a month?
I made 240 last week and today is the new week, Monday and i pulled 100 in already. Is that pretty good if i stay consistent with these numbers?
about 1 year ago
Best Answer - Chosen by Voters
Professionals don't think in "pips". They think in terms of "P&L". At the end of the day, it's all about making money. I would recommend thinking of pips AND position size.
You can make 240 pips last week but only traded one micro lot, netting you around $24. I could've made 50 pips but traded with 10 standard lots, netting me $5,000.
Don't forget to take into consideration pip value as well. There's a big difference in losing 100 pips on one lot trading the USD/JPY versus trading EUR/GBP.
about 1 year ago
Answers (3)
Although pips can be a measure of performance, it is clearly lacking. Remember, pip value is relative to the amount your risk! You could bag hundreds of pips per trade but if your risk is only 0.1%, you'd barely make it to 1% by the end of the month. This means that scalpers can end the day with just 10 pips but end up much larger gains than a day trader who was able to catch 50 pips.
about 1 year ago
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wow, what a Question, looks like that from starting of 2010 the market is Hot , and when i say hot we can see strong movement from all the major pairs, now regarding to your Q The EUR/USD moved more then 1000 pips over the last 3 month , so as far as it looks like you are a long term trader , and if not you can enjoy the benfits that the market makes
for more Q let me know
about 1 year ago
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To add to Forex Ninja's answer, it really does come down to your risk management skills. I'll give you a pat on the back though - if you can consistently pull out 100 per day, then that'd be terrific! Just remember to roll with the punches - there will be days where you will lose, but its all about coming out on top.
Also, some suggest having a reward to risk ratio of greater than 1:1. If you have a greater ratio, it increases the chances of your profitability. Even if you were to win just 50% of your trades, you would still come out ahead! Always remember to execute proper risk management - it'll help you on your journey towards becoming a successful trader.
about 1 year ago
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