20 pips a week--a little too pessimistic?

[Sweet_Pip]

Like i’ve said [B]technically[/B] speaking (i.e.: if i linked my account to a generic site that records trading performance) i would be up by 7450 pips this time.

I think the reason why people have a hard time accepting the 7450 pips number is because they think like this:
total trade size = 99 micro lots = 99,000 * .0001 = 9.9 /pip (assuming the cross currency and account currency is the same)
9.9 * 7450 = 73755 units in account currency :o
[B]no, no, no.[/B]
Remember that we opened 99 individual micro lots, and 7450 pips is the AGGREGATE pips won by all of the individual micro lots.
therefore total units = 1 micro lot = 1000 *. 0001 = 0.1/pip (assuming the cross currency and account currency is the same)
0.1 * 7450 = 745 units in account currency :13:.

Check:
50 pips * 4.9 / pip (49 micro lots) = 245
100 pips * 5 / pip (50) micro lots = 500
745 = 745

Moreover, this is how well known websites like myfxbook and others of its kind record their total pip gain.

However, my point still stands that [B]technically[/B] speaking you would be up by 40,000 pips. This is evidenced by the fact that trading performance sites also support this notion. .

I just realized where the problem is…the performance tracking websites! You’ve been brainwashed by them. The designers were probably affiliated to some $99 system to show “proof” of their system being the holy grail…“look, this system just made 40,000 pips…you can too after you buy our $99 system”…oh please! How else do you think they make their money on a “free” service.

I just started using them recently and discovered the flaw in them. When I open a trade for 1 mini lot, and then close half the trade at 20 pips, the performance tracker says I made 20 pips. Then later I close the remaining half order at 40 pips. Now price only moved 40 pips, but the silly tracking site said I made 60 pips! But it said so, so it must be so!

The performance tracking websites are ill-equipped to handle trade management when it comes to pip count…but good thing I know better or I could even go so far to break that down into the equivalent nano lot version…lol. That is called creative pipkeeping, and highly overstates your pip count… and all the rest of the “stats” that are derived from them.

When price moves from 1.2800 to 1.2900, it moves 100 pips…that’s basic “stuff”…that you want to complicate it 99 times more… is not :33:.

Pips are your value driver. Value is an adjusted $ rate based on the position size and the exchange rate. You are mixing them up and adjusting the pip count instead.

[PipNRoll]

Hey Sweetpip,

I ask davidlee to open his own thread because he is already all over the place on here … Now the soap opera continue at his own thread called “The Cult Leader of Babypips”. I believed your name was mention in there and specially ICT.

Just to let you and guys know.

[Sweet_Pip]

Hey Sweetpip,

I ask davidlee to open his own thread because he is already all over the place on here … Now the soap opera continue at his own thread called “The Cult Leader of Babypips”. I believed your name was mention in there and specially ICT.

Just to let you and guys know.

Ya, I saw that…lol.