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Is 5 pips enough for you?

  • #21
  • Apr 4, 2020 6:10pm Apr 4, 2020 6:10pm
Quoting billytt
{quote} Hi, if you trade positively and forget greed, you can live quite easily off 5 pips per trade day. I know i do/did it. 5 points after spread, commissions? is good. As we have heard a million times, good method and stick to it. NO BIG DREAMS, NO GREED..... trade well all, Stay Safe,
Hello Mr goat man. Thank you for your post. I find it shocking how many people look to discredit going after such a small pip count because of the "amount of profit lost" to the broker. Al thought it is something which should be factored into your trading plan, clearly most of us have the ability to trade with brokers which offer a very low spread especially on EU.

I for one believe that it is more important for me to simply hit my 5 pip target even if .7 of it goes in spread, being as my sole purpose is to gain profit based on the research I have made. We all know most people lose in Forex having to redeposit only to give it another go, and they never complain about the commission which was taken. Us as traders control the faith of our account and I have reached a point in much life where I believe I can hit 5 pips even risking 1% per pip and I can careless if I have to pay my broker 1% if I am expecting to net 4%.

As my TE shows, I have taken massive losses but it only has allowed me to revamp my system in hopes of winning all my orders which end with a .x5 lot order. Hopefully by the end of next week, I will be able to win all of my orders ending with .x5 in hopes of proving that 5 pips is all you need to even earn 5% daily profit if one of those orders arrive.

Hopefully all of you will decide to take this ride with me and even make this an interactive thread where many can profit once they feel as if this is a stable system. Let us see how things end up and stop worrying so much about your spread and how much the broker makes or eats from your profit when clearly you are making way more than they are.
Threesome Daddy
  • #22
  • Apr 4, 2020 6:19pm Apr 4, 2020 6:19pm
Attached Image (click to enlarge)
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What you see above are two different brokers which both offer a very low spread on the instrument which I mainly trade. The white arrow points to where the ma lines cross. Once that happens, I simply draw a line which marks the price in which they have crossed and I begin wagering based on the closing of candles across that line. We can clearly see that on the chart on the left, FBS, the green candle failed to close across the line, while the graph on the right, Trader's way", shows a close across the line thus staring my sequence of orders.
That to me is a huge problem because if I focus on the FBS price, I would not have entered, but while trading on the trader's way it created a false alert which resulted in the 5th order being a fake signal thus causing a loss which would not have been recorded had I traded with FBS. You can see the close across the line much clearer from the picture below.
Attached Image (click to enlarge)
Click to Enlarge Name: ForexFail.png Size: 220 KB


This week, I will stick to entering based on the prices given to me by FBS and not Trader's way to see if I can be undefeated with orders ending with a x.x5 suffix.
Threesome Daddy
  • #23
  • Apr 5, 2020 3:28am Apr 5, 2020 3:28am
[quote=SingaRich;12858072]{quote} Hello Mr goat man. Thank you for your post. I find it shocking how many people look to discredit going after such a small pip count because of the "amount of profit lost" to the broker. Al thought it is something which should be factored into your trading plan, clearly most of us have the ability to trade with brokers which offer a very low spread especially on EU. I for one believe that it is more important for me to simply hit my 5 pip target even if .7 of it goes in spread, being as my sole pur

Interesting post,
My main trade i take 5 points/pips this equates to 5% of my first trading bank roll.
I take 5 after spread, i no longer say , 5 after spread blah blah .like i hardly ever say look out for news, we have a holiday in USA, Germany etc.

i counter and also have a very high strike rate, This means nothing unless you have the ability to fix a fail.

Story time, a few years ago i taught a Spanish guy my method, he always said quote,
I WANT TO TRADE FOR 1 PIP,HIT IT HARD. He had balls.
i know he became very rich but i do not know if it was because he traded for 5 points OR the 1,yaaaaaaaaaaay.
i lost contact with him a long time ago.
Trade well and TAKE CARE............... Goat man lol, luv it.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #24
  • Apr 5, 2020 3:57am Apr 5, 2020 3:57am
Quoting billytt
Quoting SingaRich
{quote} Hello Mr goat man. Thank you for your post. I find it shocking how many people look to discredit going after such a small pip count because of the "amount of profit lost" to the broker. Al thought it is something which should be factored into your trading plan, clearly most of us have the ability to trade with brokers which offer a very low spread especially on EU. I for one believe that it is more important for me to simply hit my 5 pip target even if .7 of it goes in spread, being as my sole pur Interesting post,
...
sheep is the new goat, Billy!

SingaRich,
you wrote: "That to me is a huge problem because if I focus on the FBS price, I would not have entered, but while trading on the trader's way it created a false alert which resulted in the 5th order being a fake signal thus causing a loss which would not have been recorded had I traded with FBS. You can see the close across the line much clearer from the picture below."

just a simple thought, that may or may not help you...
you comparing a what-if scenario, demo vs live.
if you want to trade live, stop focusing on what a demo entry or no entry would be.
meaningless if you make or lose your demo money.
not so when you trade live.
you should if anything focus on your live charts, live price feed, the live trades signals, and their outcome...only.

happy weekend!
there is always, always another trade!!
  • #25
  • Apr 5, 2020 4:45am Apr 5, 2020 4:45am
Quoting profitfarmer
{quote}{quote} sheep is the new goat, Billy! SingaRich, you wrote: "That to me is a huge problem because if I focus on the FBS price, I would not have entered, but while trading on the trader's way it created a false alert which resulted in the 5th order being a fake signal thus causing a loss which would not have been recorded had I traded with FBS. You can see the close across the line much clearer from the picture below." just a simple thought, that may or may not help you... you comparing a what-if scenario, demo vs live. if you want...

heavily agreed, trade safe all
  • #26
  • Apr 5, 2020 4:59am Apr 5, 2020 4:59am
Quoting profitfarmer
{quote}{quote} sheep is the new goat, Billy! SingaRich, you wrote: "That to me is a huge problem because if I focus on the FBS price, I would not have entered, but while trading on the trader's way it created a false alert which resulted in the 5th order being a fake signal thus causing a loss which would not have been recorded had I traded with FBS. You can see the close across the line much clearer from the picture below." just a simple thought, that may or may not help you... you comparing a what-if scenario, demo vs live. if you want...

Hi Profit, i hope you are keeping well and safe.
I see you popping up all over the place, yaaaaaaaaaaaaaaaaay.
Take care, BE SAFE, goat man yaaaaaaaaaaaaaaaaaaaaaaay bleat bleat.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #27
  • Apr 5, 2020 8:22am Apr 5, 2020 8:22am
Quoting profitfarmer
{quote}{quote} sheep is the new goat, Billy! SingaRich, you wrote: "That to me is a huge problem because if I focus on the FBS price, I would not have entered, but while trading on the trader's way it created a false alert which resulted in the 5th order being a fake signal thus causing a loss which would not have been recorded had I traded with FBS. You can see the close across the line much clearer from the picture below." just a simple thought, that may or may not help you... you comparing a what-if scenario, demo vs live. if you want...
Thank you kindly for your advice. However, the demo feed has given me much better results as far as entry and exits compared to following that of my live broker. So much so, that I run my robot on the demo and take the alert on the live account.
My setups are all triggered by a candle closing across the price in which 2 MA's cross. I could even open a live FBS account and it would give me the same exact price as the demo, meaning that the Trader's way feed may at times give me a wick or a close which is .1 or .2 more than the FBS which would cause a huge problem for a person who needs price accuracy in order to take advantage of "setup" I have followed.
Nonetheless, I get your point and I truly appreciate your opinion. Have a nice day profitfarmer. Very catchy name by the way. Do you have any space in your farm for me?
Threesome Daddy
  • #28
  • Apr 5, 2020 8:56am Apr 5, 2020 8:56am
Quoting SingaRich
{quote} Thank you kindly for your advice. However, the demo feed has given me much better results as far as entry and exits compared to following that of my live broker. So much so, that I run my robot on the demo and take the alert on the live account. My setups are all triggered by a candle closing across the price in which 2 MA's cross. I could even open a live FBS account and it would give me the same exact price as the demo, meaning that the Trader's way feed may at times give me a wick or a close which is .1 or .2 more than...
demo is like bait for the fish.
created to be as ideal as it can look.
but demo dollars wont buy you real life things.
learn to trade the real price feed, don't try to chase the mirage.
i seen your 2 MA cross, on M1, some lower are pairs...if works for real...good luck. i wouldn't go that route, scalping for 5 pips. if MAs did anything sort of decent, that was to catch a longer trend, with many loss on false crosses before a good run.
sold the farm last year.
more headache than profit.
my trading can be better controlled than weather and wholesale prices.
a lot easier to buy your own then to grow your own.
but the idea seemed to be good to pass.
demo vs live; an idea vs real farm life.
when something isn't viable, move on!
there is always, always another trade!!
  • #29
  • Apr 5, 2020 9:09am Apr 5, 2020 9:09am
[quote=SingaRich;12858550]{quote} Thank you kindly for your advice. However

Hi,
a novel idea, take trade off a demo.i like it.
we think a like....
Trade well, Keep Safe.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #30
  • Apr 5, 2020 9:11am Apr 5, 2020 9:11am
Quoting profitfarmer
{quote} demo is like bait for the fish. created to be as ideal as it can look. but demo dollars wont buy you real life things. learn to trade the real price feed, don't try to chase the mirage. i seen your 2 MA cross, on M1, some lower are pairs...if works for real...good luck. i wouldn't go that route, scalping for 5 pips. if MAs did anything sort of decent, that was to catch a longer trend, with many loss on false crosses before a good run. sold the farm last year. more headache than profit. my trading can be better controlled than weather and...
Hi bud, i agree.demo is and never will be like a live trade.

Demo is too easy from the brokers, a bit like a slut enticing you and then shouts for payment.
(i dont actually mean you) lol
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #31
  • Apr 5, 2020 10:07am Apr 5, 2020 10:07am
Quoting profitfarmer
{quote} demo is like bait for the fish. created to be as ideal as it can look. but demo dollars wont buy you real life things. learn to trade the real price feed, don't try to chase the mirage. i seen your 2 MA cross, on M1, some lower are pairs...if works for real...good luck. i wouldn't go that route, scalping for 5 pips. if MAs did anything sort of decent, that was to catch a longer trend, with many loss on false crosses before a good run. sold the farm last year. more headache than profit. my trading can be better controlled than weather and...
Come on PF.
Demo trading is essential to finding the viability of a system.
You sound like you are advocating skipping all demo trading and going straight into real trading.
I have had many demo vs real trading competitions on 2 platforms side by side and the results have been very close.

This is how it works:

1- Find or come up with an idea.
2- Backtest (For those who believe it works) at least to get an idea how things may look like.
3- Demo forward test to get sizing and tp/sl/be etc. right.
3- Put the system through the mill of all sorts of events and adjust and revise the strategy.
4- Go real with reduced risk/profit targets and again adjust and tweak in a real environment.
5- Add funds/use the profit already generated and go bigger.
6- Come to FF and read that everything you do doesn't work.

A trader may shout out the stage he/she is at any of those points. They may be overexcited at any given moment but it doesn't mean they are doomed.
I can bet you a freshly picked fruit of my farm's crop that you have at least on one occasion used a demo to see how a strategy worked for you. You probably are no stranger to demo trading and that's why you are where you are which I think is a comfortable place.
  • #32
  • Apr 5, 2020 10:31am Apr 5, 2020 10:31am
Quoting OutThere
{quote} Come on PF. Demo trading is essential to finding the viability of a system. You sound like you are advocating skipping all demo trading and going straight into real trading. I have had many demo vs real trading competitions on 2 platforms side by side and the results have been very close. ...
without going too deep...
no, I don't say it is totally useless, but the real viability is determination by the live result ultimately.
and for whatever reason, they often don't match.
have done beautiful backtests on broker data, all fresh download and update, only to find that here and there there was big holes on it on the demo.
seen plenty backtest where EA runs on ideal average spread set, but in fact I know that just doesn't exist a certain time period for the broker.
or go no further, see the past 3-4 weeks ADR and spread wise, and compare to last year's same period....but running an EA for the year, it will backtest all as one and same condition, as you preset.
demo, and backtest...as I said, is a bait. not at all different from the welcome bonuses, or the live account opening for 20$ or so minimums, etc.

and sure, I use a demo occasionally.
for fun backtest some silly EA I download here is bored, or even put a dashboard on if I think I want to look that data, but not wanting to slow down my live account with the extra constant data needs.

but give you perhaps one real life example,
so you may understand my last post better:
if I am looking to exchange currency ( for real, cos travelling) I look up the exchange rate on xe.com, or even at my Mt4 if the broker has the quote for that pair.
but it is ballpark number. not incorrect, maybe not far from the price I will get at the exchange boot or at the bank...but still it will never be exact, just ballpark.
an idea what I may get, but never what I do get!!
there is always, always another trade!!
  • #33
  • Apr 5, 2020 5:40pm Apr 5, 2020 5:40pm
Quoting profitfarmer
demo is like bait for the fish.
//-----

every now and then they offer that bait to the wrong fish.....

one who sits patiently with mouth closed.......

one who carefully watches the other fish.....

one who intensely studies the bait.....

one who eventually will bite the hand.....

yum yum....h
to trade and code, keep both simple... no call to impress....h
  • #34
  • Apr 5, 2020 6:30pm Apr 5, 2020 6:30pm
Hello everyone. For some reason the market is open but as I try to place my sell order for Eurusd, my broker says it's off quotes. M system says sell Europe as it will drop to 1.08080 before moving up to 1.0829
Current pice is 1.0813
Threesome Daddy
  • #35
  • Apr 5, 2020 6:55pm Apr 5, 2020 6:55pm
Quoting SingaRich
Hello everyone. For some reason the market is open but as I try to place my sell order for Eurusd, my broker says it's off quotes. M system says sell Europe as it will drop to 1.08080 before moving up to 1.0829 Current pice is 1.0813
Take profit hit on the first recommendation. So far so good.
Threesome Daddy
  • #36
  • Apr 5, 2020 7:16pm Apr 5, 2020 7:16pm
Signal number two

AUDusd will go up to.60101 before dropping to .59843

current price is .59975
Threesome Daddy
  • #37
  • Apr 5, 2020 7:30pm Apr 5, 2020 7:30pm
Quoting SingaRich
Signal number two AUDusd will go up to.60101 before dropping to .59843 current price is .59975
Winner winner! Two in a row. I am aiming for 18 straight wins with orders ending in x.x5
Threesome Daddy
  • #38
  • Apr 5, 2020 9:09pm Apr 5, 2020 9:09pm
Call number 3.

sell EU here.... current price is 1.0814

tp is 1.08097
sl is. 1.08259
Threesome Daddy
  • #39
  • Apr 5, 2020 9:35pm Apr 5, 2020 9:35pm
Quoting SingaRich
Call number 3. sell EU here.... current price is 1.0814 tp is 1.08097 sl is. 1.08259
Winner winner once again. 3 in a row. For some odd reason my broker wont allow me to place orders more than .1 everytime i try, i get an off quotes error. However, when I do it for less than .1 the order opens up with no issue. Nonetheless the system is pumping out winners today.
Threesome Daddy
  • #40
  • Apr 8, 2020 11:17am Apr 8, 2020 11:17am
Very good trading this far, but everyone has left me all alone. It is bad enough being a single shemale under quarantine, but even My friend MrGoAt man has left me all alone. Anyone up for some forex talk?
Threesome Daddy
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