This is useless and so deleting it
10 pips a day can make you rich quickly 228 replies
Once you can trade profitably are you rich? 43 replies
DislikedPipexplorer, I haven't read any of your material before so I'd like to take this as an opportunity to say hello and welcome to FF.
I am aware and sensitive to the fact that there are things that you don't want to hear as described in your post....Ignored
Dislikedand on a second thought
to kill my time, I prefer reading rookies posts
you know why? bcoz to simplify all the jumbled matters in the world of trading.... rookies money is our money
expand your timeframe, strecth your economic view and diversify
even 1 pip a day or perhaps 1% a day in stock is just extremely difficult and doing that consistently would put anyone above Soros or John Paulson
(I hope this would be constructive)Ignored
DislikedI dont remember my last trade that never went positive before going negative. So I dont know how 1 pip a day is difficult lol.Ignored
Account Value: 10000
Position size: 50000
Stop loss: $200 (40 pips)
Take profit: $200 (40 pips)
The above is what you would do the first year every week, netting 40 pips or $200.Ignored
Taking 520 weeks in 10 years would make: 296,544,119 and not 12,482,503.
DislikedBecause nobody can be right 100% of the time.
If it was that easy, Bernanke would be trading America's way out of debt.Ignored
DislikedWhat I do not get: if I net 2% per week there are 2 possible differences to your calculation:
1. The end outcome is much higher: because of compounded trading:
Taking 520 weeks in 10 years would make: 296,544,119 and not 12,482,503.2. With each week your profit % would be getting less and less till the end of the year.
DislikedHm. Maybe because my calculations are based on 40 pips/week with 5 times leverage. I assumed that would automatically mean 2%.
eg if you have 25K.
25000 X 5 = 125000
125000 X 40 pips = 500/week---this is 2% of 25000.
Basically its 104% per year for 10 years. 104% of the amount at the start of the year.Ignored
DislikedSorry I think you are wrong: e.g
Account Value: 10000
Take profit 2 %: $200 (40 pips)
End amount: 10200
Account Value: 10200
Take profit 2 %: $204 (40 pips)
End amount: 10404
Account Value: 10404
Take profit 2 %: $208.08 (40 pips)
End amount: 10608.08
..... After 1 year (52 weeks): End amount: 28003
..... After 2 year (104 weeks): End amount: 78418
So good for you as this compounds to 296.544.119 in 10 years ;-)Ignored
DislikedI was trying to say trading is not rocket science. Its not easy but it certainly is not rocket science like certain people make it sound.Ignored
DislikedThat might be the only thing I really agree with you in this thread.
Trading is definitely not rocket science. At least with rocket science, if you get your physics right and make every calculation 100% correct, the chances of your rocket failing are nil barring any human error.
Whereas in trading, every single fundamental and technical factor might be going your way and there is no possible reason that your trade should go against you, but the market can go the opposite way regardless.
Trading is not rocket science, but it is certainly not...Ignored
DislikedI apologize for the misunderstanding. I was just addressing the part of your post where you claimed that "40 pips a week is super modest and reasonable" and I am just letting you know that neither of those are close to being true.Ignored