Who here can average just 30pips a week trading the FX?

[donaldduke]

Who here can average just 30pips a week day or swing trading the FX?

And if you can, why aren't you trading $1000 per point (10million USD size) on the inter bank market with a real broker?

30pips a week at $1000 a point = about 1.56million USD profit per year or almost 1 million GBP profit per year.

Even if you start at $10pp (a single 100K lot) it wont take long to get your size up to $1000pp if you are indeed averaging 30 pips (or more) a week and applying a simple incremental position sizing plan.

(Even if you think $1000 per point is stupidly large size, you might still want to consider why so few people make even £100K per year trading FX, which is how much you would make trading at £65 a point and averaging just 30 pips per week).

The reality is almost no one is making this kind of money because very few people can average even 30pips a week.
Its just too hard, beyond the capabilities of most people, especially retail traders.

The FX markets are just too close to random for it to be easy to make even this modest number of pips.

It does sound really easy, but after paying the spread, slippage, making mistakes and suffering normal trading losses and drawdowns, hardly any one can come out a head by even this much.

 

[BeginnerJoe]

The FX markets are just too close to random for it to be easy to make even this modest number of pips.

How can it be random if it can be predicted with certainty that 90%+ people will lose ?

 

[Billy Gates]

I am pretty sure there are many traders out there averaging 30 pips a week, but I don't think many of them have the nerve or account to trade that size. Any trader who has either of those is unlikely to be here on t2w or similar forums.

Take an example of trading at £1000 pp on a 1:1 or even 1:2 RR ratio, at any time the loss can be up to £30,000. Gonna take a lot of nerve to handle that, or millions in other peoples money.

I have a friend who trades for a big firm and he doesn't have much more knowledge than most of the experienced traders on here. The only thing that makes him succeed trading millions is the fact that he is not trading scared money and also the fact that he can sit through the draw-downs in the trend.

This means he probably has fewer losers than what we normal traders have to accept. I have been in trades many times where I have had a bad entry and could only take so much of a loss. Only to see that if I had stayed in i would have made two or three times that.

No matter how consistent we get at making 30 pips each week, the thought that the outcome is still a probability and a gamble(calculated but not definite), is enough for most to avoid even trying it.

 

[justtrader]

What you above is really quite ridiculous.
i do not trade 1k a point for the simple reason, that I do not have the resources to trade at that level. myself, like most are simply not geared up psychologically to trade at that level. Banks and Institutional traders, trade at that level because its not their money traded ,Take out big financial institution backing the pro traders and you will have these traders, in much the same position as the rest of us.
And we do make a lot more than 30 points a week I only aim for 20 points a day which is totally feasible for my limited means.

 

[VielGeld]

Err... To trade at $1000/point you'd need like a $1m account to keep risk at 3% of account on 30 pips...

 

[Billy Gates]

Here is someone already meeting that target. Well done.

http://www.trade2win.com/boards/forex/165224-93-pips-five-days.html

 

[Shakone]

Here is someone already meeting that target. Well done.

http://www.trade2win.com/boards/forex/165224-93-pips-five-days.html

93 pips in one week does not mean an average of 30 pips a week.

 

[Billy Gates]

93 pips in one week does not mean an average of 30 pips a week.

638 pips so far this month. Lets see how long they can keep it up. It is broker recommendations so I won't be holding my breath.

 

[the hare]

638 pips so far this month.

Whatever that means !

 

[wackypete2]

I bought 1 lot of xyz currency @ 1.2000. I scale out 0.1 lot at every 1 pip increase. When I'm completely out of the trade xyz currency is @ 1.2010 and I have 55 pips profit on only 1 trade

Go me

Peter

 

[BeginnerJoe]

Ok, so it's your pips bigger than my pips times is it ? Here's mine currently.

 

[supreme]

Averaging 30 pips is not a problem..

trading is a journey, and you have to become that person internally before you can achieve that with some random system

a bad system with a good trader can turn profitable over time
but a bad trader with a good system.. will not have anything working for them

Who here can average just 30pips a week day or swing trading the FX?

And if you can, why aren't you trading $1000 per point (10million USD size) on the inter bank market with a real broker?

30pips a week at $1000 a point = about 1.56million USD profit per year or almost 1 million GBP profit per year.

Even if you start at $10pp (a single 100K lot) it wont take long to get your size up to $1000pp if you are indeed averaging 30 pips (or more) a week and applying a simple incremental position sizing plan.

(Even if you think $1000 per point is stupidly large size, you might still want to consider why so few people make even £100K per year trading FX, which is how much you would make trading at £65 a point and averaging just 30 pips per week).

The reality is almost no one is making this kind of money because very few people can average even 30pips a week.
Its just too hard, beyond the capabilities of most people, especially retail traders.

The FX markets are just too close to random for it to be easy to make even this modest number of pips.

It does sound really easy, but after paying the spread, slippage, making mistakes and suffering normal trading losses and drawdowns, hardly any one can come out a head by even this much.

 

[NVP]

Who here can average just 30pips a week day or swing trading the FX?

And if you can, why aren't you trading $1000 per point (10million USD size) on the inter bank market with a real broker?

30pips a week at $1000 a point = about 1.56million USD profit per year or almost 1 million GBP profit per year.

Even if you start at $10pp (a single 100K lot) it wont take long to get your size up to $1000pp if you are indeed averaging 30 pips (or more) a week and applying a simple incremental position sizing plan.

(Even if you think $1000 per point is stupidly large size, you might still want to consider why so few people make even £100K per year trading FX, which is how much you would make trading at £65 a point and averaging just 30 pips per week).

The reality is almost no one is making this kind of money because very few people can average even 30pips a week.
Its just too hard, beyond the capabilities of most people, especially retail traders.

The FX markets are just too close to random for it to be easy to make even this modest number of pips.

It does sound really easy, but after paying the spread, slippage, making mistakes and suffering normal trading losses and drawdowns, hardly any one can come out a head by even this much.

Dont worry about PIPs....worry about profitability

N

 

[NVP]

Averaging 30 pips is not a problem..

trading is a journey, and you have to become that person internally before you can achieve that with some random system

a bad system with a good trader can turn profitable over time
but a bad trader with a good system.. will not have anything working for them

100% agree

what about a bad trader with a bad system ..........?
(sorry)

N

 

[NVP]

93 pips in one week does not mean an average of 30 pips a week.

reminds me of the guy who became a millionaire by buying Eggs at 50p each and selling them at 75p each making a 200% profit

N

 

[NVP]

I bought 1 lot of xyz currency @ 1.2000. I scale out 0.1 lot at every 1 pip increase. When I'm completely out of the trade xyz currency is @ 1.2010 and I have 55 pips profit on only 1 trade

Go me

Peter

Pete you are the man

advice ?.........ditch the guy in sunglasses standing next to you in the picture

N

 

[wackypete2]

what about a bad trader with a bad system ..........?
(sorry)

N

2 negatives make a positive??

Peter

 

[BrightFX]

It's funny how 30 pips is such a small target but it is so difficult to achieve!

 

[15 min tlb]

Whatever that means !

Has he got the decimal correct or trying to create positivity from hindsight trades?

 

[jungles]

People do routinely make more than 30pips/wk. Problem is they cant do it CONSISTENTLY, the magic word.

Of course they’ll tell you they do and how wonderful it’s all going, but you’ll never see a verified statement to prove it.

And if you do manage to see a statement, in most instances it’s on minis, and or the risk of ruin is high.

Myself, I’m up 22% in just the last 6 weeks………the above doesn’t apply to me. :clap:

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