Dollars ARE important - in fact its why 99% of us are here, to try to make some money.
Sonic's post #48,543 made me take a closer look and I can see that TAH has 6 UJ positions, currently showing -1081 pips, -161p, -141p, -109p, -75p & -39p a total of -1,586 pips at yesterday's close, which was right in the middle of the resistance zone on the weekly chart that I posted.
So, we trade to make some money and micro pips are for learning how MT4 works and experimenting with systems etc.....to make some money we need to trade either multiple mini lots ($1/pip) or standard lots at $10/pip. For an open, unprotected - no stop loss or hedge - current "investment" of $1,586 what should the "prudent" investor have in his account?
A good starting place is the old advice of "don't risk more than 5% on any one trade" - so for an "investment" / risk of $1,586 that would mean $31,720.......AND remember that this is a NAKED risk.....UJ could easily pop up another 178 pips on Monday to its next level on that monthly chart, even as a "blow off" top that then drops back as the expected fall begins......178x6 = $1068 + $1586 = $2,654 out of the $31,720 margin.....I hope we've not got too many of these type of trades open.....AND that we do have at minimum that margin level
So how much might we gain from the above - looking at TAH's average its ~100 pips per entry in each (multiple position) trade - so that's $600 on the current risk of $1586......
Other posters have touched on this subject - Sonic #48,543; nicoademia #48,546; Tymedu #48,602 & emmanuel7788 # 48,606 to mention a few, so why take any notice of me - well I've been there and some years ago helping trade a not dissimilar style for a wealthy friend (it was his system), got caught in a parabolic blow off of the FTSE 100 stock index. I took three $100K margin calls whilst my friend was on the beach somewhere in the Caribbean - it was a rather more expensive holiday than he expected, wiping out most of his account.
So, yes we keep account of our published performance via the number of pips made in each trade, BUT these pips MUST be viewed in relation to not only what our margin will allow us to safely trade, but also the LOT SIZE needed to make our time spent worth the effort and risk involved.
I must also say, that this is NOT intended as an attack on TAH, but as an ALERT to what is involved in trading his current "work in progress" system.
Sonic's post #48,543 made me take a closer look and I can see that TAH has 6 UJ positions, currently showing -1081 pips, -161p, -141p, -109p, -75p & -39p a total of -1,586 pips at yesterday's close, which was right in the middle of the resistance zone on the weekly chart that I posted.
So, we trade to make some money and micro pips are for learning how MT4 works and experimenting with systems etc.....to make some money we need to trade either multiple mini lots ($1/pip) or standard lots at $10/pip. For an open, unprotected - no stop loss or hedge - current "investment" of $1,586 what should the "prudent" investor have in his account?
A good starting place is the old advice of "don't risk more than 5% on any one trade" - so for an "investment" / risk of $1,586 that would mean $31,720.......AND remember that this is a NAKED risk.....UJ could easily pop up another 178 pips on Monday to its next level on that monthly chart, even as a "blow off" top that then drops back as the expected fall begins......178x6 = $1068 + $1586 = $2,654 out of the $31,720 margin.....I hope we've not got too many of these type of trades open.....AND that we do have at minimum that margin level
So how much might we gain from the above - looking at TAH's average its ~100 pips per entry in each (multiple position) trade - so that's $600 on the current risk of $1586......
Other posters have touched on this subject - Sonic #48,543; nicoademia #48,546; Tymedu #48,602 & emmanuel7788 # 48,606 to mention a few, so why take any notice of me - well I've been there and some years ago helping trade a not dissimilar style for a wealthy friend (it was his system), got caught in a parabolic blow off of the FTSE 100 stock index. I took three $100K margin calls whilst my friend was on the beach somewhere in the Caribbean - it was a rather more expensive holiday than he expected, wiping out most of his account.
So, yes we keep account of our published performance via the number of pips made in each trade, BUT these pips MUST be viewed in relation to not only what our margin will allow us to safely trade, but also the LOT SIZE needed to make our time spent worth the effort and risk involved.
I must also say, that this is NOT intended as an attack on TAH, but as an ALERT to what is involved in trading his current "work in progress" system.
Trading Levels with WRBs