Actually you said in your post describing the system that each pip is equal to one dollar… So that is 1 minilot. Now you are changing what you said.
With your original statement of 1 pip = $1 … the loss would be $5,800 + $2000 in fees for holding a negative interest rate position open and daily roll over rates for 4 years. The fees would be growing everyday… So now in order for you take make your money back the pair has to exceed it’s all time high by 2000+ pips.
And again, a very similar situation occurred with the eurusd.
again you miss it out
when i state 1pip=1 usd
it was EUR/USD not GBP/USD
so please quote me in a proper way.
now after i wish you a nice day
the main topic was: is trading forex a sort of gampling
when you try to prove that my trading plan is wrong you go back to the history which is fully recorded and logical.
if i would like to check a poker playing plan where shall i found such a history of data recorded and if i found such a thing,
how logical it could be.
ask your self is that plan that have a success rate of 100% for many years a sort of gambling, be just fair with your self.
yes:) but with very very little yearly income
which will not Satisfy niether the holy grail searchers nor poker gamblers.
it is just to prove how trading is logical, have nothing to do with luck, and not a sort of gambling.
Don’t get your hopes up… Here’s the first backtest results from 2002. We didn’t get very far…
Never mind the chart errors. They wouldn’t have made much difference anyway, since it’s the 4 hour chart. And it’s just not worth spending the time to get those reduced.
1 pip difference in eurusd is the same dollar amount as 1 pip difference in gbpusd. If you are not leveraging and using $10,000 dollars that’s one mini lot.
Also if you trade one minilot the currency you are trading does not have to devalue to zero to lose all of your $10,000. It just has to devalue 10,000 pips. In the case of the gbpusd… It was at 2.1100 … 10,000 pip devaluation would mean it just had to devalue to 1.1100 for you to lose all ten thousand dollars. Not go to zero.
Plain and simple your trading plan which you give as an example of not being gambling because you will never lose… Is flawed, and will trap you into a position for years where you are accumulating roll over fees everyday.
Then you’ve changed your initial trade settings, because there’s no way to get 5 to 10% a year or not have the account go bust at some point. Also, there are HUGE stretches of massive drawdown like 75 to 80% type drawdown that lasts for years. Not to mention there are stretches of up to 4 months where there’s not a cross to trade. Admittedly it’s a quick EA doing the tests, but it still proves the point.
The test I started in 03 didn’t go bust, but it’s had a trade open since 2005, that resulted in a huge unrealized loss at close. [B][I]A trade running negative since 2005[/I][/B]… Think about that… Almost 8 years. Not a very effective way to make some money…
And I prefer my mouth closed when I think thank you.
mmmmmmmm during 10 years you found 2 wrong positions that is a realy realy realy realy a big problem
i will spend the next 5 years to make a filter for my plan so it will not miss a single chance,thanks for ur post it was of a great help
try not to miss the chance of thinking with an open mouth
why don’t you try to think alittle before posting smart posts
with a 10k in your acount you can buy only 5000 units of gbp/usd if the price is 2.11 as you said
now acourding to this position size the pip value is 0.5$ usd
the pip value is related to the position size dear trader
please think alittle b4 posting
Uhm… When I was just starting trading with a $500 account… I could open a $10,000 position. So yes… You most certainly can open ONE MINI LOT with $10,000.
Again here is your post:
“off course as the leverage is 0 that is mean you are going to trade all your money the 10k or a micro lot
each pip gain or loss=1$”
You very specifically said 1 pip= $1. the only way 1 pip =$1 is if you trade one mini lot.
i don’t realy think that forex trading is the right job for you dear friend sorry for being rude
but you don’t understand the very simple trems of trading
with a leverge set at 0 you can only buy 5000 unit of gbp/usd if the price is 2
ask any kid this question:
i have 10k and i want to buy duks the price of the duck is 2$ how many ducks i can buy with this amount?
