Thread: What is your daily pip goal?

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No crime, but I think that is exactly the wrong way. In case your pip target is 30 pips a day, and the market has only given you 15, then you're apt to change your analysis at the HOPE of gaining more pips. Vice versa, if your goal is 100 pips a day (first, you're out of your gourde), and the market is ranging tightly, you'll get your ass handed to youpersonally. I've never understood any serious traders with pip goals every day. You need to consider what the market gives you. Having a specific numerical amount that you need from the market each day is you telling the market what to do. . .which is simply not the way it functions.

-Liz

I read somewhere from here you need ton't focus on the per part of it and rather utilize ordinary. Instead of having a 10pips daily target, possibly make it as ordinary of 50pips per week....

Err, does it make sense?

Hello kingmaker,

I am aware of successful traders that concentrate on the amount of pips and that I know of successful traders that feel that the lot size with fewer pips is a better concept. I am somewhere in the middle. Money management decides lot size (#of lots) and that I want as many pips I can snatch. The main issue is that you find a method that works for you and then practice, practice, and decide on a goal. When that goal is reached, # of pips or $$ obtained, raise your criteria.

Good Luck

Trade right each day, not X nbr of pips every day.

The way I see it: pips are not too important... the total amount is very important. . You're able to create 10 pips on two lots which is 200 pips or you may do 200 pips on 0.1 lot...

I think best way of performing is by calculating just how much do we will need to pay the bills and such. . Any extra will go to savings/investments it will make your account larger. .
Of course if you create 20 pips in complete when your account is 500USD is one thing but if your account is 50.000USD and you earn 20 pips. . Would you be happy?

Originally Posted by ;

hello everyone,
Everybody should at least have a daily or weekly pip amount they try to make. A number of us become greedy and allow winning trades become losers. I am guilty of that also. So, how many pips are sufficient?
Thank you for your answers.

Kingmaker

Placing a goal to trade using a egy in any way times (or commerce the news) is one of the best goals I have heard of.

I heard so much from link removed, see rule #2 (check them out) and one suggestion that has helped me make money off of almost all my trades is NEVER allow a commerce that's up 20 pips, turn and cause you to get rid of money. If you are up 20 pips, close 1/2 your commerce and move your stop loss to your entry price. This way if you do get stopped outside, you are still up in pips. And if you still believe the trade is rewarding, you can choose to get back in at a greater price or otherwise, you are not out any money in any way. If you get back , since you believe in the egy (which you should be using) then you've got potential to make add'l money. I just did that with a trade I've open. I sold it, it was up 20 pips...I shut 1/2, it went up to 50, I shut 1/2 again. . .kept my s/l in my entry price and it stopped me outside at 0, but I left money. I still believe in the trade, and so I took the commerce again....it struck 20 pips, I close 1/2 again and it is currently up 36 now. I am thrilled. Had I only kept it open my pips would have waivered up and down over the past few days and I would not have made as much money all around. Check it out. It's never a bad thing to put money in your acct!

It is my hope that this can help put money in your acct. And not have you concentrate on the pips or the pip value. link removed, see rule #2 has numerous things to offer all kinds of traders (novices, quite new, and seasoned) They offer the chance to trade together...I do that and I make real money with all the news about everytime! Check it!

Happy Trading!

Originally Posted by ;

No offense, but I believe that's exactly the wrong way to look at it. If your pip target is 30 pips a day, and the market has given you 15, then you're likely to alter your analysis at the HOPE of gaining additional pips. Vice versa, if your goal is 100 pips a day (first, you're out of your gourde), and the market is ranging tightly, you are going to get your ass handed to you. I have never understood any critical traders with pip goals every day. You have to take what the market provides you each day. Having a specific numerical amount that you demand from the market each day is that you telling the market what to do. . .which is simply not the way it functions.

-Liz

Sorry, Liz, but I completely disagree. I have found it best to make a target, commit it to writing, and pursue it. If it turns out to be unrealistic, if your trading program and market conditions will not support that, then the target has to be reevaluated. However, developing a daily goal is the first step in making your trading business program, which means you're treating your trading like a business, so you're being professional with your trading, not merely going after a bunch of cash.

Everyone here is considering being professional with their trading, right? I suppose you're working on producing or pefecting your business plans?

20 pips and only let the rest run to get a breakeven moving the stop since the price goes.

Originally Posted by ;

Sorry, Liz, but I Totally disagree. I've found it best to make a target, commit it to writing, and pursue it. In case it turns out to be biased, if your trading plan and market conditions will not support that, then the target needs to be reevaluated. However, creating a daily goal is the first step in creating out your trading business plan, which usually means you're treating your trading like a business, which means you're being professional with your trading, not just going after a bunch of money.

Everyone is interested in being professional using their trading, right? I suppose you're all working on producing or pefecting your business plans?

Completely agree! Fantastic Post!