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How many pips a day as a beginner?

Discussion in 'Beginners Bootcamp' started by neilkaz, Jan 10, 2008.

  1. neilkaz

    neilkaz Recruit

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    Hi all, firstly just wanted to say "what a fantastic website!".

    As a complete newbie to forex i've done as others have suggested, i've read every inch of babypips (another superb website!) and read a couple of eBooks on forex trading. After that i started a demo account with DBFX and so far have maintained a pip profit of approx 110 a day over the last 6 weeks(trading for approx 4 hours a day). So my question is, is this a good average to maintain? - Is it rubbish and i should be looking at far more?

    Lastly, anyone have any views as to a good UK broker to open a mini account with (one that doesn't mind the occasional scalp trade!)

    Regards
     
  2. jsamdirect

    jsamdirect Recruit

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    I think you need to come to that answer based on your strategy. You account size, risk/reward ratio, and time will most likely determine the amount of pips you can average or make in a given day.
     
  3. rpaco

    rpaco Sergeant

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    I would say firstly that you are doing very well and secondly that it will probably change when you open a real account. Live is different to paper. Theoretically there is no difference but in reality there is.
    Wish I could get 110 pips daily . Best of luck. :)
     
  4. kelmf01

    kelmf01 Recruit

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    Info

    110 pips a day is great. What E-Books did you read ?

    Thanks,

    Leo :)
     
  5. odee911

    odee911 Private

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    Wow 110 pips per day definately is great! To my experience though, you shouldn't have a set target to acheive a certain amount of pips daily... market conditions are always changing and sometimes without noticing you will force youself to do plays you normally wouldn't just to acheive a certain amount of pips. I think any pips is good pips :)
     
  6. keitsuke

    keitsuke Recruit

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    As mentioned previously, demo account is very different to live account in terms of your mentality to trading. But 100+ pips a day is excellent.
     
  7. Stevew3765

    Stevew3765 Recruit

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    Yep

    I'll pip to that!!
     
  8. Carlos

    Carlos Private, 1st Class

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    1 Pip +

    :nerd:As long as you do one pip a day or more between winning and losers you are in the right track.
    Maybe you can try Alpari
     
    #8 Carlos, Oct 15, 2008
    Last edited: Oct 15, 2008
  9. ernest8fingers

    ernest8fingers Master Sergeant

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    R U Kidding?

    Any pips gained is one step closer to freedom-1 or 100 it doesnt matter. A win is a win. Keep up the run but beware-nothing lasts forever.;)
     
  10. kamoro

    kamoro Private, 1st Class

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    Any pip made a day is a profit. Some days I make 2 – 4 pips and others up to 60 – 70 pips. My best day was 210 pips a day. The important thing is that you have a strategy worked out and stick to it. Don’t be too greedy, a few pips profit a day is much better than losing large amounts of pips.
    Happy trading
     

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