hey i set a exit target of maximum 50 pips and minimum 10 pips and do trade only 4 days a week. and i m using 5k account on marketiva. i use only one third of my balance to trade. but i think 1000 pips per day is improbable for me
I like wise and humble traders. Shadow you sound like one yourself.
I use up to three trade styles. If the market changes I change the trade style I use. As Jack Schwager says “There is over a million ways to make money. Unfortunately that are very hard to find.” I do usually use one lot. If I am confident, multiple lots. I use a few indicators, price and money management the most. I always use multiple pairs. Why limit oneself to only one pair. The most amazing thing is the mental position ot the trader. Some traders should not be using a live account yet.
I’m not sure of your trade style. You realy shouldn’t risk that much of your account at one time. 1000 pips on a 5K account, Hmmmm…
Posible, but more risky.
The kids and I are trading a demo account 400:1 leverage. Each lot conrtols only $1,000. The balance started at $20,000. They are doing well. I want to take the next week and average there pips per day.
Good Luck.
Thanks pipgod, I am grateful for your response and insight. Oh and eh when I began in real I was not ready. But I think that the fact that the hardships and obstacles came early, has helped shape me as a trader. However, if the hardships had not come as they did, and I didn’t learn from the mistakes I made, my psychological traits for trading probably wouldn’t be where they are now. In saying that, would I change what I did at the beginning, even though “post-mortems are a waste of time”, most likely.
Have a great one eh! Stay Cool, Sit tight, take it easy!
The kids forgot to manage the demo they are learning to trade with. They missed some good profits on monday at 5:00 pm. Managing it tonight they had smaller than normal gains and larger than normal losses. The most amazing thing is that they still had a positive pip count. They are alittle down and out but I told them to cheer up. 1446 pips is still a good result. That would be 723 per day for monday and tuesday.
What I learned is that the trade style does OK even if you make a costly mistake.
Now that is amazing. Due to the kids making the mistake they did on Monday, they are experiencing another day of limited gains and larger losses. I have never gone a day with out managing a demo or my live account. I wonder how long till it recovers. I wonder if they will have a negative day soon. Still close more positive than negative. They pulled 734 pips out of the market today.
Until Later:)
My son tried to find his own trade style. I do encourage this. He was doing well. He did not stay with his own trade rules and lost most of his balance. He will try again soon. They are managing the big demo now. He will post the results soon.
i like my dads trade style. It works for him and he likes it, it works for me and i love it. when something happens i dont have to explain the trade stayle i can just tell him what happens and if i have any questions he can answer them. I tryed to find my own trade style but i was very hard. me and my sister just finished our demo that our dad is teachig us the trade stlye and we got 102,091 pips today. wow he told me that would be 10,209.10$. i fell a lot better because on monday we made a mistake not manageing the account. i thought someting bad would go wrong and i think every thign is ok now. 
Umm…
That’s my boy!
hellow dad wake up! somewhere back there u said u was gonna average the week, ive been waiting!
You didn’t post todays pips silly. Good thing you didn’t try to do it.
11,192 for today.
115,463 for the week. Divide by 5 days and you have 23,092 pips/day on average.
Hey the kids can do it, so can everyone else.
I have the problem of adding and subtracting from a long or short position depending on what happens with price action. My live account (and all demos) pay between 8 an 10 cents per pip. So after I close the trade I take the cash value say $19.50 and divide by 9 cents for a close average on how many pips I made. So when people want to know how many “true pips”, “pure pips”, and “real pips”, I can not answer the question without lots of analyzing. I take the gains subtract the losses (usually that is a positive number for the day) divide by .09 and that is what I use as my pip count. (In this thread I divide by 10 cents) In all fairness about half of my trades are 1 lot by so many pips. Other trades are 2,3,5,10,whatever lots by so many pips. Remember we have losses to, just larger gains. Can’t have one without the other.
About 100 a week.
The kids have done very well.
They started with a $20,000 demo. The balance is now $29,202.71. In about ten trading days they have increased the balance 46%.
I think the kids like it.
Sunday night and the kids are looking forward to a good week. They are watching the demo in anticipation. They didn’t like to here that there would be nothing to report until tomorrow. :o
Closed positions gaining 4,820 Pips. Some are true pips, about a third ,but not all. That raised the demo balance about $480.00.
The kids are doing well. They have a low used margin figure so they want to raise the lot size. I’m not sure I agree with this. I told them to double the lot size when they double the account balance. “But Dad, Please”?
The daughter is brown eyed, brown haired, most adorable, and very sweet. The son (thepipkid) is blue eyed, blond haired, and girls say he is gorgeous. The most important part is they love thier dad. 
I decided to let them change some of the lot sizes but only a few for strategic reasons. This will mess up the pips. I guess the pips were already messed up. They will be trying to reach $40,000 balance before 30 calendar days are over. If they reach this figure I will encourage them to go as far as possible.
thepipkid is managing the demo now (a little late)(you know how kids are) and will have the new account growth and balance figures soon.
like father like son, Dad.
nd that is not the first time i had to say thsi.
I don’t believe it!
That thing I call a kid went to bed! :rolleyes:
Their account balance increased about $2,560. Some of the lots control $1,000 and some $5,000. I’m not calculating the pips. That would be severely inaccurate. The demos new account balance is about $32,118. They do as I do and close some open positions (not all of them) and then opened new ones. Of course they also take advantage of long and short positions. After they managed the demo the new used margin figure is 6.44%. Just a hair less that $2,000.
Not bad for a couple of teens.