Quote:
Originally Posted by andyfx
I am fully aware of the purpose of any questions, and i am sorry if i miss any out. But the numbers are not actually a fair representation of my live trading. I mess with the lotsizes depending on strenght of signal. Something i never do live. As soon as i hit 50pips profit i move s/l to b/e. And then it moves up in accordance with the price channel i use. However i do adjust for the ATR.
The GJ is moving nearly 300 pips i think.
Hope i got it all. Will have a look and re-post.
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Hey Andy,
Thanks for the reply, and again I appreciate your good spirit. I think we can leave it at that; 1200 pips net, or 1092 pips, or whatever, is an excellent day and I'm sure we all agree that a) those kinds of days are possible, b) they're fairly rare, even for someone willing to take trades that become apparent on 12+ pairs. I watch 18 pairs and have had a number of occasions where I've been managing open trades on half of those. If you catch a breakout on the Guppy or GBP/CHF or another pair apt to relatively high volatility, a few hundred pips or more in 24 hours isn't out of the question.
The sticking point, as always, is that even if the market makes that many pips available and you are vigilant enough and astute enough to pick up most of them, not every day is or can be like that; on days when most pairs are range-bound the system that performed so well while the market was trending whipsaws you to death. If you have sense enough to stay out of the market on a day like that, you won't pick up any pips. Or you may transition to another method where you can pick off the tops and bottoms of channels, but that isn't going to be a 1k pip day - it may not be a 10 pip day. Just so long as it isn't a -1k pip day.
So the old caveats for the benefit of the beginner are very important: have realistic expectations (though there's nothing wrong with a little optimism based off what is possible), align your daily/weekly/monthly goals with them, and learn about, adopt and apply proper money management parameters on every trade.
If you can, consider starting a journal over the Forextown area of the forum to document your progress - I'm sure you'd have plenty who're interested to follow along!