Is 1000 pips per day possible

Beginner Questions
21

@Anderson007
i always get a kick out of comments like this

First you said

then… HEHE
YOU PROVIDED A WAY

LOL :stuck_out_tongue:

then you confirmed the validity by saying

and then for some reason, we lose all hope

Well i have a few questions
Lets reverse engineer this theory now…

if one does have very good Risk Management

if one opens many many trades over many different pairs
and let’s put numbers to this

let’s say a broker offers 100 different pairs and one places multiple trades on 50 of them simultaneously.

one would then THEORETICALLY have to achieve 20 pips on each pair and would have 1000 pips racked up

so… HOW IS IT NOT POSSIBLE…IN ANY WAY ?
hehe

i was going to post a link here from you tube for you but couldn’t find it
point is, the guy teaches people to trade and …
at one point one of his subs says, THERE IS NO WAY THAT THE TRADE IS GOING UP

and he does this 45min speech on how ridiculous and naive it is to say something like this with ABSOLUTE CERTAINTY.

Mate, just like this
how can you possibly say NOT POSSIBLE IN ANY WAY
also

you didn’t just say, Not possible in any way
you then showed us 1 way
then said it’s not possible

You really need to rethink this answer
but, i TRULY HAVE ENJOYED THE LAUGH HEHE

1 Like
22

Edited out - not a terribly interesting post methinks

23

Shame you edited out your post @Falstaff there were some interesting and relevant points there. If you dont mind I would like to highlight 2 of them:

You said[quote=“Falstaff, post:22, topic:135447, full:true”]
overall 4-5 pips lost in spread, so that would have made any 7 pip trade a lot less attractive. I assume you are getting much tighter spreads to make those sort of numbers viable.
You’re right of course, completely different psychology challenges in those trades. - My saving grace is that I expect to lose some and can set the TP and SL - then get on with the day and let the trade take care of itself. [/quote]

I want to emphasise that I was not advocating short term trading over longer term - only that it is just as possible, albeit maybe not always so effective and more expensive and more stressful. I would also add that, yes, my spreads are very tight - even zero as shown here for EURUSD:

I would also add that the 7-pip trade was only because I had to go out - as you can see below the TA structure continued all day and in fact I reentered later when I got home for another 17 pips and then left another O/N trade for another 14 pips. That is therefore 4 winning trades on this upmove and no losses - a total of about 50 pips and with larger position sizes than I would leave on a long term trade…but if I had left the original long that started before yesterday I would now have a bigger profit for less screen time - but with a still open position that still carries a risk of reversing at any time…

My point is that there are many ways of trading and even day-trading can be profitable.

But this is my last post here on BP. The moderators have deleted my posts from another thread and I have requested that my Username be deleted from this site totally. So Happy Friendship Day and best wishes to you all.

The only other point I would make about the above trades is that they were not solely based on 15m charts, I guess I would term myself as a “daytrader” that trades off daily charts! :smiley:

Here are the 15m charts from yesterday showing the TA continuation and my re-entries - followed by the 4H and Daily charts which backed up the long direction:

0213 15m 2.png629×775 20.3 KB

0214 EU 15m.png700×776 19.3 KB

0214 EU 4H.png719×652 21.5 KB

0214 EU D.png741×922 25.4 KB

24

@anon46773462 - I would seriously ask you to reconsider that decision. A few weeks ago when I was thinking of baling out of this site, you presented a slightly different way of thinking about things to me and it was because of your input that I am still here.

Similarly, you have been very instrumental in talking to @anon81929759 about his decision to leave and he is still here too.

I understand the principle although I don’t know which posts you are speaking of specifically. I do know that you are one of our most knowledgeable members and the fluency and depth of thought shown in your posts is something which we should all aspire to.

Not everybody (even mods) are good enough to understand the nuances of what everyone says at all times and I know we all feel unfairly treated at times - @_bob is a recent case in point as well.

There comes a time in forums when the value of the members who are no longer there has to weighed up and the remaining members need to make their own decisions as to whether it is worth the effort of continuing to contribute, or whether it is time to move on and migrate to other places.

It is a long time since I was involved in Trading forums and in the previous places, I don’t think there were any deletions at all ! Things got quite fraught sometimes and we all (mostly) accepted that traders tend to be strong minded individuals and could disagree quite vehemently.

But they were different places from this “gentle place” where a never ending stream of newbies are encouraged to think trading is just a case of “Learning some simple rules” and joining the queue of fresh money waiting to enrich the “machine” with smiling faces.

As traders, we have to live in “The world as it IS” not “as we would like it to be” !

If you do “go” @anon46773462, it will be a huge loss to the forum and there will be even fewer knowledgeable posts to interest those who are left behind. Perhaps that would even cause others to reconsider their own positions within the community.

I do hope you decide to stay, even if it has causes you some pain to do so - There are some of us who sincerely value your sage advice and wisdom. Perhaps the “Mods” might like to revisit their own actions in this too ? However, if you do decide to move on to “Pastures new”, I do hope to bump into you wherever that may be sometime soon.

WHichever way life goes, It has been a pleasure and a privilege to have “known you” mate !

All the very best

F

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25

@anon46773462
i know which posts they are

Dude, don’t leave over that, Jeez Man… cmon

i had a word to her and she apologized for not being clear.
she said she’d pay attention to it in the future

she deleted the posts because they were from that other idiot and were not relevant, Nor did they make sense to begin with
don’t leave over that mate, it’s not worth it .

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26

hey @Penelopip
as a result of that recent deletion and (no offense) the lack of explanation (as i discussed with you)
LOOK WHAT IS HAPPENING NOW

@anon46773462 wants to leave
could you please do something here, an Explanation or something , because i honestly do not think that it’s worth leaving over such small things like that other guy
but, i think there is an issue between you and Manxx as well.

could you please clear this up, it would be appreciated, @anon46773462 in my opinion is a cool guy and a valuable member of the forum

i know you didn’t meant to do this intentionally , but IT’S HAPPENING

and this is what i spoke about when i was considering leaving as well.
one by one, FOR WHATEVER REASON they will all leave

things have to change, COMMUNICATION MUST EXIST, or they will all leave

can you please do something here to help this matter.
thank you

27

@anon46773462
ok. i just read the rest of it that i didn’t see when i last posted

@Penelopip
i want to know what this means ?

if this was me… and you said this to me as i was leaving, i would interpret this as WTF
i mean… You stand by his decision to leave
so… WHAT ?? … YOU WANT HIM TO LEAVE, YOU ARE KEEN TO HAVE HIM LEAVE ?? Really ?

Now, i’m guessing you probably meant to say … Manx We Respect your decision

but again @Penelopip That “Wording issue” that you have, Now seems to have made @anon46773462 Want to leave

Mate, Respectfually
if he leaves, IT’S YOUR FAULT… Seriously

i mean, you just came into the picture and started deleting things without proper explanation
and then there is a sorry
and we kissed and made up
and then you did it again hehe

what do you expect the guy to do ? Seriously.

i don’t really want him to leave
i thiink most don’t want him to leave and i’m saying this publically because I THINK THE FORUM HAS A RIGHT TO KNOW WHY HE WANTS TO LEAVE

Basically, it’s because of misunderstandings from you

Now. Let us not forget WHO IS THE ROYAL IDIOT IN THIS SCENARIO… ok
@bneboston87 You want to take a bow mate
Because of your BS this is what is now happening… GOT ANYTHING TO SAY ?

i can’t believe this is happening

but then again, @Penelopip i can tell you this as a fact
if you keep doing this, you will have nothing left of the forum other than newbies that don’t know how to trade, now if that suits you and babypips, then . god be with you and good luck to you

but i’m guessing @anon46773462 wants to leave for GOOD REASON
now since it is a good reason, LOGICALLY it means, most of us will want to leave as well in due course

You’ve set something in motion, You need to stop it
i’ll leave this with you

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28

1000 pips as a daily target? This is really too much! Even, it’s hard to make 10 pips with consistency since, there is no certainty in Forex.

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30

You are right peter; being consistent is not easy! I have almost 5 years trading experience, but till now I am not consistent enough!

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31

Sorry if this is the wrong place to post this - I find it hard to navigate between threads in this new layout - but did @anon46773462 leave? IMHO that would be an enormous shame, @anon46773462 is one of the best posters on the site, a rare beacon of hope.

ST

3 Likes
32

@SimonTemplar
yeah dude he did @anon46773462 to my knowledge has left, until we hear otherwise… IF WE HEAR OTHERWISE.

it is a shame, You’re right, but what can you do , he did what he felt was right for him.

33

forget the pips and focus on percentage gains per day, its the only real way to measure your results.

2 Likes
34

5 years! It’s a long time! Keep it up, hope for the best!

35

Frankly, the 1st 3 years were too much disturbing! But, I have improved a lot in the last 2 years!

36

I think, initially we all have almost the similar experience! But, which traders don’t lose their focus & interest on learning, end of the day, they are able to make money here!

37

We can achieve our pips target with certainly if there is most powerful analyzing trading strategy with good money managing plan. Otherwise not.

38

It’s true, but I think if we follow the market sentiment unless following our daily/weekly target that would be more useful.

39

A true guideline! In my early stage I focused on the pips number instead of the percentage! As a result, I lost huge amount of money initially because I wanted to make the daily target at anyhow! Definitely, that was a wrong way of trading!

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40

Actually it completely depends on your trading situation, if you are a newcomer should not fixed to earn daily target, because this target can make you emotional and arrogant. Yes instead of pips target sometimes percentage works greatly.

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41

when you plan your trades, you set the SL and TPT measured in pips! but in order to get these pip levels it makes the most sense, to relate them to percentages. for example, if I have 250K USD account, if I wanted to risk 1% on a trade, that would be $2500.00, so what you do, if you want to risk $2500, 1% of your account, do the math, .1L is at about $1 a pip thats a 2500 pip SL sort of extreme, so you instead use a 1.0L which is $10/pip so your SL would be 250 pips (1% total risk if SL hit).

see how this works? its how professional traders set their lot sizes. so what you do is select the SL area, then figure out what size order to place based on your desired max risk per trade or account.

So if you determine that your SL only needs to be 25 pips then you can do a 10.0L order with a 25 pip SL, which is risking 1% of account.

and in the end, its far better mentally to think in terms of percentage gaIN PER DAY, or week or month or year.
pips are only a measurment of movement! and obviously 25 pips at $1 a pip is only $25 of risk but at 10.0 lots thats $100/pip risk.

risk most logically is figured in percentages of account. then converted to pips to get the stop levels, and while 3:1 Risk to reward is great! its much harder to find get and make and complete those, risk to reward isnt important to me, but I consider it!

You sure dont want to risk 250 pips for a 25 pip reward, because you need to win more than 90% of your trades at that rate just to BreakEven!