Im not gonna lie and say i make a gazillion pips a minute, but i do surely make over 80 pips a month on a bad month and 400+ on a good month. Only twice have i've lost -68pips and -123pips loss. I use my own system and it seems to work just fine.
you know nothing about my trading success or any other trader on here , So if you cant contribute something positive to the thread you should keeep your negative thoughts to your self . You too will be successful one day but you must keep an open and positive mind ,
I think the point Nashequilibrium was making was that asking "How much Monthly Pips profit do you make?" is a bit of a pointless question, better questions might be 'what is your average monthly percentage return, what's your risk, and what type of trader are you'. Saying you make 100 or 1,000 pips and/or 10k or 20k a month is meaningless. Goals are pointless as well in my opinion. What happens if you reach your goal for the month, do you stop trading? What happens if you don't meet your goal, are you a failure, do you overtrade, or do you carry the balance forward to the next month and give yourself even more unnecessary pressure? Trades come up when they come up, the market will not oblige you with a trade set-up just because you have some arbitrary goal to meet. Although it's method of calculation is controversial and it's results sometimes misleading due to manipulation, a Sharpe Ratio can give a whole lot more information about a traders' performance than simply asking how many pips they make. People replying to the OP's question the way they have done suggests they themselves fail to see the insignificance of the question as much as the OP, hence the 'it's the blind leading the blind!' comment
This is trading fellas. watchdaride made some very good and pointed comments, which no doubt will help other traderse along their way. While I personally don't like to limit wins/losses like that (because I perfer to just be in the natural flow of the markets) what he says is a valid approach to trading ... particuarly with the insight that he gives about cutting losses quickly, as well as all the currencies/currency pairs that he mentions. Nothing but a sea of opportunity there. Best wishes.
Everybody has there own style . I have been trading for 6 years or so and find this way of trading works best for me . I have a small business and do trading 2-3 hrs in the morning 2-3 days a week ( never trade on big news days) . I have tried fulltime trading 3 times and failed each time because of overtrading. I find the best months are when i work fulltime and trade parttime , not sure why but i have accepted it. I find the more i am out of the market the better i trade when i come back fresh. So i try scalp 20 -40 pips a day and turn off the computer with no stress . I know a guy who trades 24 /7 and makes money but i cant do it so i trade how it profitable for me . Maybe a few more years that will change but this style works for me .
Excellent. Cable you seem to be the only one who's has got it. To be fair to the other members i should have explained it as well as you did, but i am so tired of seeing inexperienced fx traders especially those that make 100% a month. I have seen guys swear on their life that they make 50pips every day. I can honestly say that every fx trader i met that talked about pips per month was not profitable but just a liquidity provider. This shows a basic lack of understanding how a portfolio is run, if they run one at all or have ever found themselves looking at a co-variance matrix. The bottom line is that in this business you have a choice of being a sheep or a wolf. Close your eyes to the truth and you will be the markets lunch or you can learn, learn, learn and find out what it truly takes to average 25%pa with low volatility. Good luck on the vol. part with everything being linked to the dollar and the inherent noise on the cross rates. Anyway, we are having a one way market so far this month, so we will see more pip traders graduating from their demo accounts to make 50pips a day after their day job finishes and maybe checking out the prices of them Ferraris. "Just don't burst their bubble or let them out of the matrix or you will be a victim of their insults." O! how cruel the fx market is.