How many pips a day as a beginner?

[neilkaz]

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

 

[jsamdirect]

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.

 

[rpaco]

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

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.

 

[kelmf01]

Info

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

Thanks,

Leo

 

[odee911]

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

 

[keitsuke]

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.

 

[Stevew3765]

Yep

I'll pip to that!!

 

[Carlos]

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

 

[ernest8fingers]

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.

 

[kamoro]

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