How many pips does the average retail forex trader make?

I’m trying to trade forex on my own, with 3 strategies based primarily on technical analysis, supplemented by fundamental analysis. I’ve developed these strategies through homework, lots of reading and just a bunch of research. I bought a system in the past and got burned. Now I’m doing it myself. Does anyone know the honest average range of pips professional retail traders make every month? My impression was that they make an average 250-500 pips a month. Not to say they do that every month, it’s just the result when averaged out. Right now, after 2 months of trading, I’ve made a little over 200 pips and I’m hoping to maintain that and improve to the 250-500 pip average a month range. Is that realistic? Ideal? What should be my target monthly average to be a truly successful forex trader.

It is not wise to have a monthly pip target. If you fall behind your average it is easy to freak out during the last week of the month and make irrational decisions based on greed or fear. The easy way to target your trading is to set a daily pip target or what I like to call a Minimum Acceptable Target (MAP).

15 pips seems to be a conservative daily goal that if hit, will give you over 300 pips per month.

The definition of a "successful Forex trader" is in the eyes of the beholder. What is successful for one might not meet the expectations of another. Personally, I like having a target of increasing my investment portfolio by at least 8% per month.

Good luck with your strategies.

Paul

Is there a talented Forex trader who could mentor me?

I have a simple mothod of trading the Forex market. I would like to find someone who is really great at it who could teach me to be better. I would like a personal friend/ mentor, and not another course that costs thousands and delivers little. Thanks!

Unfortunately, all of the good teachers charge something for their expertise. My question, what homework have you done and what have you done to refine your method. I agree, the Forex is a good place for your money and it travels in waves, but there are money management and discipline issues that you have to answer yourself. I would suggest a traders group in your local area. You can exchange ideas.

Looking for a live account offer like readyforex.com?

I am looking to buy readyforex.com video trading course because it offers live forex account for practice with training. I have heard many good things about this program. A friend of mine from Gloucester already purchased course and he is making money.

You would not believe how many trading systems, courses and books I have purchased in last few years. No luck. I want to make sure that this time I am going to select right forex trading course.

I would appreciate if some one bring a list of trading courses that
provide same live forex account offer like readyforex.com

I wasn’t very successful with the three recommended above. One had a bad trading platform, another had high brokerage fees.

I ended up with FXDROID where they claim 4x your money in 1 month. I set up the account and made profits the first three days of this week.
It looks like it could be the real deal.

Brokerage fees are great and the best part is.. it’s undetectable to the brokerage firms. That’s extremely important as if you use one of the three above and are detected, you’ll get barred and your funds can be frozen, so be careful.

http;//www.stocklocater.com/forex.html

Whats the best strategie to use in forex currency trading?

Currently Im betting EURvsUS for the long run
but I want to know if u can refer me to a page where I can learn more about scalping and other strategies
im using oanda.com fx game for practice , in the process of opening an account

The best way to learn is to test strategies out until you find a couple that work for you. Scalping is an art in Forex, but auto trading is a very powerful method. Find the one that you are comfortable with.

Next Page »