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Thread: How many pips does a quotsuccessfulquot trader collect weekly?

  1. #1
    Personally, I am contented to announce a triumphant trader may collect up to 100-pips per week. Apparently some of you think that is high. That might well be for many reasons but we are not likely to get to that today.

    So, I am interested in receiving feedback from all of you. I would like to hear exactly what you think the typical, full-time trader could collect ( pips) weekly. . .presuming he/she has: A egy The mind that is Appropriate A tangible account management plan

  2. #2
    Quote Originally Posted by ;
    Personally, I am contented to declare a triumphant trader may accumulate up to 100-pips per week. Apparently a few of you believe that's high. That may well be for many reasons but we are not likely to get into that now.

    Therefore, I am interested in receiving feedback from you all. I would love to hear exactly what you believe the typical, full-time trader could collect ( pips) weekly. . .presuming he's: A reliable egy The proper mind A tangible account management Program
    Being a beginner at Foreign Exchange trading that I dont have the slightest hint. But I would be quite curious to hear what the people who've been trading for awhile have to say.

  3. #3
    Quote Originally Posted by ;
    I would like to hear what YOU believe the average, full-time trader could gather ( pips) weekly. . .presuming he/she has: A reliable egy The Appropriate mind A concrete account management plan
    If a full time trader has a reliable egy, the appropriate thoughts and a concrete accountmanagment program, they are most likely successful. And effective traders dont know how many pips that they make within a week, because the statistic is completely immaterial to the operation of the portfolio.

  4. #4
    Quote Originally Posted by ;
    if a full time trader has a dependable egy, the proper mind and a tangible accountmanagment program, they're most likely successful. And effective traders dont know how many pips that they make within a week, because the statistic is completely irrelevant to the operation of the portfolio.
    Merlin, you keep saying that, and the light grows less dim each time, but I do not really get what you mean about the irrelevancy of pips. I have heard you and others say, it's not the pips, it's the dollar value of the pips. That word really disturbs me because the first thing comes to my mind is Oh Wow! Pile on the leverage so that I could get $1000 a pip!!! I know this isn't what's intended but it sure comes across like that and I'm worried it may be harmful to newbie traders. Nevertheless, could you expand on the irrelavency of pips while also downplaying large leverage? Where is your balance. I don't get it .

    Thanks ahead Merlin!

    Diallist

  5. #5
    Quote Originally Posted by ;
    Merlin, you keep saying that, and the light grows less dim each time, however I still do not quite get what you mean about the irrelevancy of pips. I have heard you and other people say, it is not the pips, it is the dollar value of the pips. That phrase really bothers me because the first thing comes to my head is Oh Wow! Pile on the leverage so that I can get $1000 per year pip!!! I understand this is not what is meant but it comes across like that and I am worried it might be detrimental to newbie traders. That said, could you expand on the irrelavency of pips while also downplaying leverage? Where is the balance. I just don't get it .

    Thanks in advance Merlin!

    Diallist
    I think what Merlin is saying is that complete portfolio profit is tied more into the nember of lots traded rather than how many pips scored. 10pips X 10 lots = 100 pips X 1 lot (only trade as many lots as you can manage - RISK MANAGEMENT!!)

  6. #6
    Quote Originally Posted by ;
    Merlin, you keep saying that, and the light grows less dim each time, but I still don't quite get what you mean about the irrelevancy of pips. I've heard you and other people say, it's not the pips, it's the dollar value of the pips. That phrase really bothers me since the very first thing comes to my mind is Wow! Pile on the leverage so I could get $1000 a pip!!! I understand this isn't what's intended but it comes across like that and I am worried it might be harmful to newbie traders. Having said that, could you expand on the irrelavency of pips while also downplaying high leverage? Where's the balance. I just don't get it .

    Thanks ahead Merlin!

    Diallist
    okay let me try to expand upon this. First off, let me say this...

    YOU SHOULD NEVER TRADE 1 LOT

    this doesn't necessarily mean you should over trade. It means that if you are trading 1 lot you are doing something wrong as you ought to be moving into smaller increments (if you are trading 1 miniature, you need to be investing in 10 micro so you get much better resolution).

    If your account is 5k or less you ought to be on a micro account, 100k or less you need to be on a mini account. This is to keep your position size elastic.

    So your about to put on a commerce, EURUSD short. You figure you need a 30 pip stoploss for the trade. Your account is at 10k and you are risking 2% each trade. You would then do this calculation...

    ($10,000 x .02) / (30 x 1) = 6.66
    what your willing to risk divided by exactly what every lot will cost you if a loser = 6.66

    where ...

    $10,000 is the account balance
    .02 is the risk per trade
    30 is the stoploss in pips
    $1 is the pip worth on the EURUSD

    . . .so you'd trade 6 miniature lots, or 66 micro lots if you want to get fancy.

    Dialist, can you venture a guess as to why you'd go through all this trouble of sizing your transactions? Ill give you a hint, it's to do with holding something steady.

  7. #7
    As long as you trade the exact same percentage risk per transaction, a pip is worth for a system that utilize a more compact stop loss in comparison to a system using a larger one.
    For example, for a system with a 30 pips stop loss, when compared with a system that utilize a 60 pip stop loss, every pip is going to be well worth the double. So, if you trade a system with very big stop loss, such as 100 pips, then you need make a lot more pips compared to a system with smaller stop loss.

    Bjorn

  8. #8
    Quote Originally Posted by ;
    In case a complete time trader has a reliable egy, the proper thoughts and a concrete account managment program, they are most likely profitable. And effective traders dont understand how many pips that they make within a week, since the statistic is completely irrelevant to the performance of their portfolio.
    Merlin,
    I agree with you. But to try to answer the question asked at the beginning of this post, I propose we re-phrase it :

    just how many pips per lot, pips each miniature lot, pips each micro lot or pips each unit lot does a successful trader collect weekly.

    This way, everyone is able to compare benefits.

  9. #9
    Quote Originally Posted by ;
    Merlin,
    I Concur with you. But to try and answer the question asked at the start of this post, I propose we re-phrase it :

    just how many pips per lot, pips each mini lot, pips each micro lot or pips each unit lot does a prosperous trader collect weekly.

    This way, everyone is able to compare results.
    Pipster
    I believe your original post was understood to have asked the same question you're asking here. Should you wish to adopt into the parlance of Merlin you might want to ask the following:

    presuming a constant risk per trade of 2% or less of equity, what rate of return on equity does a strong system reach weekly

    Because each trader has different objectives, each will have a different definition of success. Thus, I have replaced your expression sucessful trader with the expression strong method in hopes of a simple reply from Merlin.

  10. #10
    Quote Originally Posted by ;
    assuming a constant risk per trade of 2 percent or less of equity, what rate of return on equity does a robust system achieve weekly
    now theres a matter worth discussing!!!

    To start with, if you've got a system that wins each week, then I dont care how much it makes, its a winner. In case it makes even 0.5 percent per week you'll be rich right away. In case you dont believe me just do the math. As Einstein stated, compound intrest is the 8th wonder of the world.

    Its realistic to check at returns on a monthly basis. There are traders out there that achieve profits each month (some as many as 80 months in a row). My personal objective is to yield 2-5 percent per month on the whole portfolio, risking 0.6 percent on every trade. Sometimes I earn 15 percent in a month, sometimes I break. As long as I dont have a losing month I am happy. Over a calendar year, that amount of functionality will yeild extraordinary yields.

    Btw, with constant 2-5% per month returns, you'll double your money each year. And should you manage money for others with this particular system, you'll be super rich right away

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