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Using a Daily chart, (no intraday intervention) and without the bullsh_t.
How many pips on average per month can people win using one pair, say GBP/JPY?
That is where most people go wrong and play directly into the broker’s hands.
It is human nature to want more and looking to attain more pips/ or cash is the prime reason traders go bust.
IMHO you should set a limit and then get out and stay out.
This should be obtained from what you expect your percentage increase for the year to be i.e. 300%, then progressively broken down to your trading TF.
Mini Account $300 x 300% $900 / 1.022 Tick Value on a Alpari micro account (I think)
881 pips for the year to obtain.
12 73.4 pips per month
52 16.9 pips per week
200 4.4 pips per trading day
This is a very simplistic view but it’s simple (I will get off the soap box now)
Hi Beno,
I totally agree with what you are saying.
What I am trying see is what people are making in pips per month (average).
So are you doing 73.4 pips per month average?
If not, what are you doing?
That is where most people go wrong and play directly into the broker’s hands.
It is human nature to want more and looking to attain more pips/ or cash is the prime reason traders go bust.
IMHO you should set a limit and then get out and stay out.
This should be obtained from what you expect your percentage increase for the year to be i.e. 300%, then progressively broken down to your trading TF.
Mini Account $300 x 300% $900 / 1.022 Tick Value on a Alpari micro account (I think)
881 pips for the year to obtain.
12 73.4 pips per month
52 16.9 pips per week
200 4.4 pips per trading day
This is a very simplistic view but it’s simple (I will get off the soap box now)
Cheers
Beno
Good thinking. One question: how many orders would you be doing per month? (one order means opening a position and subsequently close your position).
Good thinking. One question: how many orders would you be doing per month? (one order means opening a position and subsequently close your position).
I have not counted them as the number of orders has not been a point of concern.
The number of pips for the year is spread over the all the pairs you are trading there for the losses are also spread over all the pairs you are trading.
Its a bit like a martingale cost averaging system I think.
Realistic Winning Pips
Linear Mode
