How many Pips per week on average? seriously now!!

oildaytrader said:
It is possible to make 5 pips daily in today's market, markets are probably easier to trade and probably make more, probably make 10 to 20 pips on several pairs and instruments.

O D T
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I've made more by only trading eur/usd and nothing else, 35.4 pips per day on average:whistling
 
oildaytrader said:
It is possible to make 5 pips daily in today's market, markets are probably easier to trade and probably make more, probably make 10 to 20 pips on several pairs and instruments.

O D T
Click to expand...

2,500 a day minus RTP costs, which depends on the profitability ratio of his strategy, minus desk fees, etc etc minus tax minus split. depending on instrument I guess, like Indices and othe futures become more volatile and less liquid distorted by computer programs
 
now that you're here Black Swan, and one with power, and contributed to the forum, how many pips per week do you make on average consecutively over 6 months from forex?
:cheesy:
 
BlueChilli said:
now that you're here Black Swan, and one with power, and contributed to the forum, how many pips per week do you make on average consecutively over 6 months from forex?
:cheesy:
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:LOL: d'ya see that lads, I have the "power", Muhahahahahaha...:devilish:
 
BlueChilli said:
yeah, read those, they all got the same response from the ever so 'unhelpful' legendary members who have egos the size of King Kong's nuts...
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The answers to questions concerning most aspects of trading are generally context sensitive, but in the case of your question, there is only one correct answer, and that is using pips as any type of performance metric is completely meaningless.

Thats why anyone dumb enough to ask the question, tends to get the same response.
 
how fooking good is Breaking Bad on Five? Just gonna catch the series finale recorded last night, Walter is a modern day hero...:D
 
zupcon said:
The answers to questions concerning most aspects of trading are generally context sensitive, but in the case of your question, there is only one correct answer, and that is using pips as any type of performance metric is completely meaningless.

Thats why anyone dumb enough to ask the question, tends to get the same response.
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okay, you've said this many times now and I'll say again that I do not agree. Maybe you've got something new to learn? ever thought about that?
 
Black Swan said:
how fooking good is Breaking Bad on Five? Just gonna catch the series finale recorded last night, Walter is a modern day hero...:D
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In my first post I said
"I would like to hear from the more experienced forum traders, moderators etc... I bet there will not be a direct answer to this direct question!!"

and now nobody can concentrate on what's being asked:(

actually, I'm a fan of Lost and The Wire... BT Vision is replaying all the series from The Wire so will watch it for the 3rd time
 
Quote: "Please only answer this if you honestly deliver an average over at least 6 months...and PLEASE, no rookie's please who have had 2 weeks of good trading and now think they can educate the world!!!"

okay, in that case ask me agin in four months! *G*
 
BlueChilli said:
I am asking this because I have yet to find the answer on the internet EVER!!! Is it 50 pips per week or 500 pips per week?

I've seen results of forex competition winners who claim 1000's percent return in a month...(n) not interested in a month return but at least six, and pips made rather please.

There will no doubt be the normal sarcastic answers to this like: "it's not the pips but the return that matters" and "no pro counts pips but £ returns" and "it's all about money management"....:sleep:

A trader either has a system that delivers a certain (consistent) amount of pips per week or not. How traders decide to leverage their account is not up for discussion and is their own business.

Please only answer this if you honestly deliver an average over at least 6 months...and PLEASE, no rookie's please who have had 2 weeks of good trading and now think they can educate the world!!!

I would like to hear from the more experienced forum traders, moderators etc... I bet there will not be a direct answer to this direct question!!
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Once you have developed an edge in the market, concentrate on increasing your size (money management), it's a lot easier than trying to increase the number of pips you make.

Just 20 pips a week per pair will make you rich.

At £10 a point that would be 10K a year.
At £100 pound a point that would be 100K a year.
At £1000 pound a point that would be 1million a year.

You can increase profits by.

1. Trying to net more pips
2. Trading more pairs
3. Increasing size

A reasonably profitable trader can go from trading £10 a point to trading £1000 pounds a point as their account grows in around five years.

But it is much harder to increase the number pips you make 100 fold.

There is also a limit to the number of other pairs/markets you can trade, maybe a dozen at most.

Therefore once you have developed a suitable system that you can apply to one of more markets concentrate on increasing size till you run out of liquidity.
 
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And that I guess is the diffrence between the occupations of trader vs dentist
(from NNT book)
 
there also may come a point when you realise that, despite your weekly pip bank, you've been trading like a mug. My aim for this year is to half the pip count, but double the profitability...big challenge...
 
BlueChilli said:
okay, you've said this many times now and I'll say again that I do not agree. Maybe you've got something new to learn? ever thought about that?
Click to expand...

Just wondering three things:
1) why do you want to know?
2) what makes you think it's important?
3) what makes you think you're right?

Thing about blaming money management techniques is that even with good money management techniques, you can wipe out your account. You'll just do it slowly. Imagine you had a system that was 55% successful (ie 55 trades out of 100 moves into target profit territory). In theory, that's fantastic. You've cracked the market. You've also heard that you're supposed to let profits run. So you risk 50 pips for each trade. First target is on average at 50 pips (and you move stop to breakeven to lock in profit), second target is 150 pips (for those awesome news spikes). So you trade 2 lots every time. Result is 1 lot will give you 50, sometimes the 2nd lot will give you 150 (but usually not and it returns to breakeven to stop you out) and 45% of the time it hits your stop. So over time you're taking 50 pips more than losing 50 pips. However, can you see that over time 45% of the time you're losing 2 lots and 55% of the time you're winning 1 lot? So your pip win size increases but your account decreases.

Anyway, what ever number of pips you're making, be happy with it. Don't compare with others. I have always been able to swing trade but kept getting lured back into scalping because I kept hearing of others making money scalping with the subsequent denting of my account. Now I just accept that I cannot scalp and accept that my average pips per week is much lower plus there are less trades to take (sometimes one a fortnight!).

I knew you'd get those answers because the question doesn't make sense in the real (trading) world. It is not a simple question when you think about it. I don't know your current trading history but if you can't accept criticism and honest answers...

Oh, one more thing to consider. You never know who is telling the truth and who is lying. When I first joined, I thought everyone was a profitable trader. Now, I believe nobody. I only know whether someone is at my "level" of trading by the way they convey the same experiences I've had and the way they react to concepts. So, for example, if you are an unprofitable trader and you hear someone giving the same advice that you give and reacting in the same way to other peoples' statements and thoughts, then you know that person is also an unprofitable trader!
 
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Black Swan said:
there also may come a point when you realise that, despite your weekly pip bank, you've been trading like a mug. My aim for this year is to half the pip count, but double the profitability...big challenge...
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Pips per trade are more important than average weekly pips.Its quality thats more important than quantity.

I tested a system that made about 1,000 pips per year on backtesting, at a meagre 2.5 pips per trade.I devised another variation which made 5 pips per trade , but made only 300 pips a year.

The second system was better and it would trade more profitably on live accounts.

Same applies to systems with high drawdowns achieving higher profits, most traders will fail to continue trading their method after a severe drawdown.

Stick to low drawdown , high hit rate and high profit per trade.
 
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