Been trading for 6 months semi successful. Best trade I’ve done was 450 pips! What’s yours?
As long as you’re consistently profitable, all winning Pips are good news. I once pressed the wrong lot size button and lost over $100 in 30 seconds before I could close it down.
Cool - but what was your R multiple? Pips profit means little on its own.
How much did you risk to make that 450?
That’s how pros think
R multiple? And the lot size was 0.2.
R multiple:
If your stop loss was 45 pips away and you banked 450 pips that a 10:1 trade - impressive, well done.
If your stop loss was 450 pips away and you banked 450 pips that is a 1:1 trade - well done, but less impressive.
If your stop loss was 900 pips away and you banked 450 pips then that is a 0.5:1 trade - not very impressive.
And if you say you didn’t have a stop loss then that is purely gamblers luck and it’s only a matter of time before you blow your account.
Regardless of that… all 3 scenarios could be profitable in a long term strategy but it would depend on your strike rate.
With the 10:1 trade you could have lost 8 out of 10 trades and still be in profit.
Yet for the 0.5:1 trade you would need to win over 7 out of 10 trades at least to make a profit.
It’s all relative. But as John mentioned 450 pips with no context could be a sh**house result OR a great one… depending.
450 is big for me. I trade smaller pips being a scalper. Smaller constant profits are better for me than 1 big win in a couple of days.
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I can’t really say it was the best since I had to lose a lot before achieving the top figure till date. What I can say is that the best is yet to be achieved and I’m constantly practicing and learning to improve my trading skills, build-up better strategies, and analyzing the market much more in-depth. I can’t really say it was the best since I had to lose a lot before achieving the top figure till date. What I can say is that the best is yet to be achieved and I’m constantly practicing and learning to improve my trading skills, build-up better strategies, and analyzing the market much more in-depth.