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

[BlueChilli]

so for anyone interested, I'll enlighten you soon on what the aim of this thread was (lulz!!) and what you can or cannot take from it if you choose.

first though, I have a roast dinner that needs all of my attention and a bottle of Nederburg Shiraz:clap:

 

[BlueChilli]

right, time to put this thread to bed.. RIP!!! in small chunks though...

firstly, try post anything on a forum like this and you will no doubt experience a flood of posts from members who are total arses:

example: the first reply you get is
""Translation: "I don't want to hear why what I'm saying is stupid"" aka Arabiannightie

why not say " I don't agree with what you are saying, or this is not a realistic question!!"
so, you will always get non-constructive answers from a " I am a trading God" which encourages other followers to take this example (sad)

btw, not to mention arabiannightie does not even trade forex, well, so he says anyway!! but will no doubt offer advise on this very subject.. laughable really. Please check any previous threads on this subject and you'll see the same examples of "Trading Gods" so kiss my backside or I'll trash you..

 

[BlueChilli]

secondly, and fortunately, there are a handful of forum members who are genuine, look for the ones that make trading calls before they trade e.g. look at Leovirgo, Forex Day Traders Thread and BBmac. They all however suffer from forum tarts like arabiannights and other teenagers who try high jack threads, I suppose this reflects society as it is today, they are no longer driving around in saxo's and standing on street corners with hoody's but now have broadband!!

 

[BlueChilli]

thirdly: why pips per week? because each time you trade you are making a "wager" per pip, not a wager of £1 every time I am right or £1 every time it goes up 1%...plus it covers all pairs.....arabiannightie quoted an example of someone shorting GBPEUR and someone else going long EURGBP..yes essentially the same thing but consistently over 6 months the same is true for losers so on AVERAGE it will even out, so does this argument hold water...again he choose to ignore what I said...consistently over 6 months!!!!

Pips per week is not perfect granted (yes you can make negative pips in a month and still make money, but consistently over 6 months....please pull another leg!!) but pips are what people understand...plus I never asked about money management, forget money...

 

[BlueChilli]

fourth: I asked for average over 6 months and then made the point a number of times of "consistently". The only difference between an amateur golfer and a pro is consistency, yes an amateur can hit a drive 330 yards down the middle, but a pro will do it 9 times out of 10 whereas an amateur will do it maybe once out of 10. Experienced traders are consistent, if they weren't then they would not be here!!

 

[BlueChilli]

finally: I suspected and learnt to appreciate over time that successful traders DO NOT make a lot of pips per week!!! (maybe that's why they are reluctant to advertise this) but new traders always expect experienced traders to make hundreds or thousands of pips per week!!!
Experienced traders will focus on probabilities and the high probability trades will carry a high level of £ per pip, why not just say "my average pips are low but hell I make them pay!!"

I have a look at the post by Black Swan where he wants to halve the pips but double profit!! New traders will not think like that....

 

[BlueChilli]

This thread was NOT about the egotistical view of how many pips one makes per week, it was in fact the opposite but only a few choose to answer the question or instead took the view that that was what I was asking was how big your dick was!!..had the question been clearer, well mmmm, there definitely would not have been the same interest

 

[zupcon]

The thread demonstrates (yet again) the futility of using something as meaningless as pips to measure perfomance.

 

[BlueChilli]

The thread demonstrates (yet again) the futility of using something as meaningless as pips to measure perfomance.

care to elaborate? my imagination is not good!

 

[BlueChilli]

The thread demonstrates (yet again) the futility of using something as meaningless as pips to measure perfomance.

ah, actually missed the key word in this...'performance', what has this got to do with anything I'm asking? I'm not measuring performance..

 

[oildaytrader]

They all however suffer from forum tarts like arabiannights and other teenagers who try high jack threads, I suppose this reflects society as it is today, standing on street corners with hoody's but now have broadband!!

What do u mean ?Do they have the intelligence to use broadband?

 

[BlueChilli]

so there we go, new trading year is now starting and this thread is now dead.....however here is a summary of the golden rules:

1> you'd be surprised how many forum tarts there are who have a "I am God so kiss my backside or I'll trash you" attitude
2> there are however a handful of users who are absolutely genuine (they are the ones that actually post their calls on the market before/or as they place the trades)
3> experienced traders make + pips CONSISTENTLY every week and you'd be surprised at how few pips that actually is, certainly not 100's or 1000's *** per week.

*** well not scientific anyway as number of pips don't matter!!!

 

[Pippy5000]

I read in a trading book about 4 years ago that bosses at banks want their traders shoot for 300-400 pips per month .. I have to get 320 to make ends meet.. Anything beyond that is gravy.

When I first started I did better than that but it was only at $1 per pip and I gained little and lost little (moneywise) on each trade because I used a different strategy.. one which would not please most bank managers

Kids and rookies who use 10 cents per pip on micro accounts will boast about 1,000+ pips per month, but using the same strategy at $10 per pip they would run the risk of being wiped on one trade.. not very impressive.

BC, Lulz is entertainment and he should know that those of us in our mid to late 30s are not doing this for entertainment :cheesy:

 

[maiden22]

Having read the whole thing, I still can't understand what the purpose of this thread was, or why number of pips matter to anyone.

Unless you haven't discovered money management of course.

 

[Black Swan]

Having read the whole thing, I still can't understand what the purpose of this thread was, or why number of pips matter to anyone.

Unless you haven't discovered money management of course.

Perhaps Chilli was just looking for a bit of inspiration/motivation which (let's be honest) is more difficult to find on 'ere than a buried Viking hoard of gold and trinkets...

 

[oildaytrader]

Having read the whole thing, I still can't understand what the purpose of this thread was, or why number of pips matter to anyone.

Unless you haven't discovered money management of course.

This thread is more like pappadums,beer and vindaloo without the blue chilli.

So blue chilli post some live account statements of hundreds of pips a week.

 

[Dinos]

fourth: I asked for average over 6 months and then made the point a number of times of "consistently". The only difference between an amateur golfer and a pro is consistency, yes an amateur can hit a drive 330 yards down the middle, but a pro will do it 9 times out of 10 whereas an amateur will do it maybe once out of 10. Experienced traders are consistent, if they weren't then they would not be here!!

Quote by Dan Dawson from the home page of T2W..... "The sooner we accept that one or two trades should not make or break us as traders, the sooner we will become successful. By thinking in terms of probabilities you will realize that with each loss you are closer to a winner. For example, out of 20 trades done on a consistent strategy (same rules for all trades), you will find that you did not lose 20 in a row and you did not win 20 in a row. You probably had something like 11-9, 15-5, etc. The key is staying consistent. If we trade different strategies every other trade, then we will never obtain this consistency or any kind of long-term success as a trader."

Consistency is the key, get a system, KISS, and trade 'per say', as your have done your strategy backtesting (haven't you',) you should know what level of pips you need, and how many lots or contracts you can trade, is up to you and your approach to risk/reward and money management, it is personal to you as its only you that will benefit it, its got nothing to do with anybody else or what they get. I have a weekly target, sometimes exceeded, sometimes short, but the consistency over a longer period allows me to earn a living from FX trading

Just a thought

 

[Black Swan]

This thread is more like pappadums,beer and vindaloo without the blue chilli.

So blue chilli post some live account statements of hundreds of pips a week.

This is silly, he wasn't playing 'mine's bigger than yours', his *mistake* was to post this post/thread in the wrong section. On reflection had Chilli handled it better the responses would have been more empathetic. Agree with Dinos' point above...good to see you back btw Bud

 

[oildaytrader]

Chilli

Here is a extract from a live statement showing over 2,000 pips profit for today @ $1 per pip.If trader had tried to trade 0.2 lots or more more, and if he had lost it would be bad money management.

Your question was answered previously be me.It has all to do with money management.

 

[hazelj80]

so, as a demonstration what sounds better, the fact that this account made 128 pips or the fact that it made 25% ROI??

hmm, i think ROI is more important than pips but call me inexperienced.

maybe you should re-title this thread. "how much ROI do you make per week on average?"