There are many Forex trading systems promising big pip returns. None of them deliver on a consistent basis. Instead of looking to capture big pips, your main goal as a trader should be to prevent big losses. :eek:
This will be explored thoroughly in future posts.
I agree but also, instead of thinking in terms of pip value, one should think in terms of account value - look for a 1-2% increase per day of your account. After booking such a profit either get out or greatly tighten the SL in case the profit wants to run. 1% doesn’t sound like much but that’s 20%/month compounded. Better thn Treasuries. d.
I couldn’t agree more.
I stopped counting pips a long time ago. It’s all percentage gain or loss.
It astonishes me how many people don’t get this.
An M1 scalper may make just 10 pips in a day but grow his account 4%. A trader mainly taking trades off the daily chart may make 1000 pips in a week but also only grow his account only by 4%
There is only one thing that matters in trading and that’s how much money you used to have and how much you have now.
Hello again.
It is nice to see those of you focusing on percent return instead of pips. So many are lured into the nets of those promising the big pips.
Price, time and direction are the factors to be exploited in trading. USD/CHF is near the yearly low. It could go lower. It could go higher. No one really has a clue. Let’s say I have a modest $500 account and place a 0.1 mini lot buy trade. A 100 pip move against me equates to a $10 loss. A 1,000 pip move against me equates to a $100 loss. Right now a buy entry would be 1.0148. A move to 1.0200 would be 52 pips or $5.20 or 1% added to my account balance. How long should one wait to make 1%? As long as it takes is one possible answer.
The USD/CHF buy trade exploits price by entering near the yearly low. Time is exploited by only trading 0.1 mini lot and being able to sit in the trade a very long time. Direction is exploited by buying near the yearly low. Once entered, all you have to do is wait for your platform to alert you USD/CHF is at 1.0200, at 1.0100 or at a new yearly low. No chart watching necessary after the entry is made. Go enjoy life instead.
Trading 0.1 mini lot will not cause me any stress when it moves against me. Having five 0.1 mini lot trades open at the same time would not cause me any stress. When each 0.1 mini lot entry is made on a different pair, there may be some winners and some losers. There may be a chance to exit all trades with a profit. How many times have you wished you had stayed in a trade instead of exiting with a loss?
Anyone still looking to make “big pips”?
I thought you were warning folks against “making big pips”
I’d have assumed your “returning” post would have said something along the lines of:
“anyone still looking to prevent big losses”?
By the way, where’ve you been?
The question was asked to see if anyone was still “lured” into thinking about making big pips.
My time is spent doing various things. I have been warned so posting frequently is not high on my priority list.
Yeah like registering multi-nicks on here for one.
You really ought to invest some of that “downtime” from here getting transparency lessons from someone.
That’s still your achilles heel. :rolleyes:
duuuuhhhhhhhh:D
May everyone have a nice Thanksgiving.
The proof is in the charts.
It appears EURJPY is approaching the yearly low. What’s all the fuss about lines and opens? Sounds like someone has a bone to pick.
So what?
Yesterday it moved through & re-tested last weeks low at 110.31 which was also Monday’s low.
I think that event is rather more relevant to current proceedings than a level still more than 4 figures away don’t you?
You really want us to go through this regular process of reminding you why there are several bones to pick where you’re concerned?
Is that what you really want xtraction?
Considering the amount of times you’ve been unceremoniously ejected from this site, I’d have thought you’d have preferred to keep your head down so soon into your latest reincarnation.
I thought this was a forum where people post their trading ideas, methods, systems, questions, tools and charts. Please don’t bother me again.
Back on topic.
Are you finding your trades ending in losses rather than wins going for the big pips?
Are you reviewing your trades to see 10 pips or more gains turn into losses?
Are you frustrated because everyone but you are making the big pips?
If you answer YES to any of the questions, then what is the reason you keep going for the big pips?
I guess this wasn’t a popular topic for discussion.