Post your pips.
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What's all this pip-mania I keep reading on the forums? it doesnt matter whether you have made 700 pips a month or just 100 pips. What matters is equity increase, max drawdown, consistency ratios, etc, not the pips themselves.
That many in a day, impossible!
That many in a week, impossible!
That many in a month, impossible!
Over the period of several months, if not years, then maybe!
Pips are pips. What really is the significances of how many pips some other person has made?
Performance goals are really useless for newbies, even for the novice trader a performance goal is useless. One should be more focused on being consistence and having your emotions in check. The rest will follow!
Sure, but would that be $1 pips for a $1000 account or for a $10 million account?
See? pips in themselves are meaningless. It's just the "score" of the game. Let me lay an analogy out for you: in a soccer game, you might have scored 6 goals which is quite a lot for any professional game, but also you may have been scored 8 goals against you, have had two of your players injured and another four have been booked a red card by the referee. So, in such scenario, your 6 goals dont look quite that appealing, do they?
Focus on the important variables of your system, not on the "score counting" (meaning pips), and you will do much better.
Hmmm. Most interesting.
Someone can post like these:
1,000 pips but $0.10/pip = $100
1,000 pips but $10/pip = $10,000
1,000 pips but $100/pip = $100,000
I have found that watching dollars makes me nervous. When I started trading mini's with 1 pip valued at 1 dollar it was no big deal.
When I bumped it up to a full contract for the first time and 1 pip became 10 dollars it was a bit different. Staying in a trade when I was 200 dollars in the hole was a lot more difficult than when I was only 20 dollars down.
The pips were the same but a loss of 200 dollars was more than my mind could be comfortable with at the time. This was something that I had to get over, obviously, or I would never trade more contracts.
Looking only at the pips as I trade is how I avoid this mental conflict.
Just for the record, I aim for 50 pips per week. Consistency is the key.
I don't even know how many pips I make. That is probably the least important factor in trading profitability.
Pips are meaningless. You can be negative in your pip amount and still have an account increase and you can also be positive in pips with an account decrease.
You have a hypothetical $10,000 account. You place a trade with a 100 pip stop risking 3%. You are stopped out. You balance is now...$9,700.
Next you place a trade with a 15 pip stop risking 3%. You gain 60 pips for an increase of 12%. You account is now $10,864.
Total pips = -40
Account increase from original balance = +8.64%
This is negative pips with an account increase.
I assume the original question is for net, not gross.
Second, I stand by what I say earlier about pips not $ gains. Though others are more experienced with me.
If I make 100 pips in a mini, and you make 10 pips in a standard, 10x$10 equals 100 bucks. 100 x $1 is $100. And if you did more than one lot, you'd always win over me.
In that case, how is it a fair question? I will never make more, and I will have had to make 100 pips compared to your 10 just to keep up.
I'd love to have it made so I only need to make 10 instead of 100 pips, but isn't 100 pips the bigger number? Why doesn't the 100 win?
Should the deck be stacked against EVERYONE who is trading with lower money accounts?
If I'm trading in stocks, 10% is a loser for small accounts, and 10% is a huge winner for larger accounts. 10% doesn't cover commision sometimes. I like pips.
I stay with the original question. What is your NET pips. If everyone did my trade with however many lots, your pips would be the same, but your account will vary. And I agree with...i forget the posters name but has the Tiger Woods Avatar. You can have positive pips and negative account, but aren't you halfway there!
So Net this 24 hours, 5 pips. I shouldn't have taken an ozzie/dollar trade last night...those pairs don't move well enough for shorter plays. But I did good trading some binaries today! 180 and 300% gains. Doens't matter my $ amounts. That's per contract.5 contracts will pay more than 1 everytime, that factor skews the question.
Not all of us start with the same deposit.
That's like having a store, and the big ticket items makes you the most money, and the small items you sell at a loss. Are the small items what drives in the business to buy the big stuff, or are you just selling at a loss.
If I'm trading in the penny stocks, and I trade 100 dollars and lose 40 percent I'm at 60 bucks, and now I get a 300% stock so now I have $180, am I 100% satisified? Not 100%, I still would work on the losers to mitigate those and try not to do it again.
To ruin the original question will make everyone be a loser or winner by varibles that not all can duplicate. Someone with 50k will always have more than someone with $200, so what's the point now? It's one thing to not want to divulge your record....but the Hyatt will always make more money than the Days Inn. That's why there's things called occupancy rate and cost per room, etc. Like pips, those are ALWAYS the same no matter the size and price of the room/hotel.
It's a standardizing statistic. If you made money on losing pips, that's on you. Good job on money management, but it doesn't make it less important. I'd be worried after that.
If I turn 13G's into 1.3 million, did I do worse than the hedgefund who make 5million last year? Obviously it's a yes using the reasoning of this board.
here piggy wiggy!
i aint closed yet, went in short at the top by the way on the eur/usd and gbp/usd
waiting for another 30 and stop triggers on consumer sentiment!
Pips don't pay the bills. Returns on capital do.
not sure why u want this to be posted......190 total for this week: 140 from tkimbles strategy and 55 from a nfp straddle...
What I learned this week, a mini-account doesn't pay the bills anyway, so take the pips away from me, and I got nothing! :surprised Least I can work on it to pay the bills someday if I am getting some pips from somewhere.
Now if I do good trades with one lot, and I experiment with a mini lot, I can lose more pips and make money. But I'd rather put the mini's in the experimental column anyway in that case instead of demo'ing it.
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