Dislikedbecause if i go for 3 lots right away and close the trade 100 pips later i have made hundred pips! however if i scale in my trade at 0, 30, 70 and close all three at +100 pips from the first buy i hit...i have made 30+(40+40)+(30+30+30)=200 pips!!!! is that correct? and can i add on this increased total to my overall pips and boast abt them??Ignored
It's about how much of the market move did you capture. I think your question illustrates how flawed many system sellers use of Pip counts is. They can make up what ever crap they want.
If you are out to boast about your trading, it's much preferred to do so in percentage gains. "I grew my account %30 a month over twelve months" has much much more meaning to it than"My method pocketed my clients 2300 Pips in June alone!!!" ...It means jack if someone was trading 100 standard lots per trade and had a net gain of 23 pips over that month only, yet multiplied his Pip gain by the number of lots he traded! ...Dodgey!!!
So answer to your question...
What effect did that one trade have on your account?
"After risking a total of 1.5% of my account, spread over the three entries, I netted a %6 gain to my account balance . "
"For the 12 months to June I averaged 15% a month for a total of around 535% last year."
It's a much better way to handle your performance figures... ( and no, that's totally not my results! .....I wish!! lol )
If you really wish to use pips, go ahead. But specify it the overall move you captured maybe. I don't do things that way. The only time I mention pips, either here or to myself, is in my R/R and position sizing calculations (and R/R boasting . )
Bundy's status today: "Waiting..."