I work to be able to spot entry setups and end of moves before the crowd does. I avoid chasing the market so I don’t enter a trade too late and get burnt. I try to read the market better every day. I exit successful trades before my profit evaporates - some times. I've learnt when to let my profits run - I could be better.
I do all of the above and a 1001 other things to make a profit. If I make pips I have a profit. If I lose pips and have a net loss I have lost money at the end of the month.
How each and every one of us gets those pips - if we ever do - matters. But not as much as the bottom line. Profit. And here that means positive pips.
I started this thread because of a post I made here which was disputed. BTW you may have missed it because it's in the lounge. The differing opinion is below.
So, my contention is, if someone makes 1000 pips a year then he is clearly a better trader than someone who makes 500 pips. I am not interested in lot size or volume here. I'm interested in pips. It's the person that made the right choice trading at the same lot size and volume as another. Exiting at different fractional lots if you wish by splitting - not a problem. I usually do that.
Pips are what counts. It's your profit.
I do all of the above and a 1001 other things to make a profit. If I make pips I have a profit. If I lose pips and have a net loss I have lost money at the end of the month.
How each and every one of us gets those pips - if we ever do - matters. But not as much as the bottom line. Profit. And here that means positive pips.
I started this thread because of a post I made here which was disputed. BTW you may have missed it because it's in the lounge. The differing opinion is below.
DislikedPips are not what counts, expectancy is. In sum pips are not a measure of success without much more information. A trader who makes 1000 pips a year is not a better trader, or should be equated to a higher status then someone who makes 500 pips a year.Ignored
Pips are what counts. It's your profit.
Do not focus on making money; focus on protecting what you have.