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can you earn 1400 pips per month with one pair?

  • #21
  • Edited 11:30pm Mar 26, 2007 11:28pm | Edited 11:30pm
Quoting amenlo9
thanks for your information.i am still newbie in forex so i still don't know how to make profit like you.

assume i could easily make 5-10 pips per trade and my initial capital is 1000K,how much % per trade will your suggest?and for 5-10pips TP, our winning ratio should be always 1:1 and 1:2?

Hi Amenlo9

1st off, it sounds as though you've had a rough go trading....reasoning for this is your phrases "once we lose the trade" and the word "assume", so you might want to get more "schooling" and "screen time" studying one pair first, learn that pair, everything you can....learn how the pair "breathes", fundies, techs, Support and resistance levels...Avg Daily Range...when news comes out....everything. Fear not, I blew my first account....and it was 10x more than yours....I wanted it FAST...and that is what happened, it went FAST!!!

2nd - $1000usd is way to low, though you can use it as "tuition" to learn with....don't kid yourself thinking you can earn with this amount. FYI...I am anti demo accounts.....they are not the same are $$ accounts....you always get filled in a demo account, real world is very different.

You have to do what is ultimatley right for you....as for myself, with hindsight... I'd get a mini account and only trade 1 mini lot ( 10k ) ... why?? because I'd want to learn how to capture consistent 5-10 pips per day and get a mindset that it CAN be done. As you can see, your account is not going to grow but $5 to $10/per day.....though what you are seeking is real world experience....gotta pay the price, if you have more time than money...than spend the time learning and saving for a bigger nut. In a year, you'd have a years KNOWLEDGE and EXPERIENCE, still in the "game", and your account should be about doubled $7/day x 5 = $35/wk x 50wks = $1750 + your $1000 start cap= $2750. I know it doesn't seem glamorous, but it beats the hell outta blowing up and quitting for awhile and starting new all over again....make sense??? Now remember that 7 is an avg....once you KNOW you can do this on a daily basis.....Get your account funded ( capitalized ) correctly...Than maybe 2 mini's...than 3 mini's ..I'd never go higher than 10:1 leverage....one never knows what fate has in store out in the world, and the first time you go all out....BAM.... Murphy's law hits.
As for stops....You gotta decide that....personally I only use emergency stops, far away from spot....I only trade when I am at the screen working, there is no Auto Ex for me....when I sleep, play, or travel.....I am flat and in cash....and my $$ is at risk for as little time as possible.
( unless I have a long term trade working - totally different discussion )

Hope this helps...
Proper Prior Planning Prevents Piss Poor Performance
  • #22
  • Mar 27, 2007 6:26am Mar 27, 2007 6:26am
I was asked by another member to post the graph. I can't go into more details, sorry. Live results have matched the backtest results so that answers your questions regarding spreads and slippage. They were factored into the backtest. The equity curve shows a steady increase in profits going back 7 years.

Quoting tdion
Aegis you keep posting this same graph all over the forum.... where are the live trade calls?

Also, your graph is so linear, it looks like scalping.... and backtests don't take out spreads. Oh, and another thing.... what about slippage? Your last trades look like they are trading hundreds of lots... when in fact it is difficult to get filled for more than 10 without slippage.

I'm not attacking you, but until we get some evidence, this is just another fantasy Grail.

No hard feelings.


One final thought about this thread topic: How can you honestly expect a strategy to deliver 1,000s of pips month after month? Sideways markets will make a system like Firebird profitable, while trending months will make a MA crossover system profitable. For me personally, the combination of setups for BOTH sideways and trending markets is the best EA design. I could stand corrected in the future.

This is MY Grail EA..... and I am posting live trade calls in my journal for better or worse. Max lots/trade = 10. Max open positions = 2. The graphi is a 6 year period.
  • #23
  • Mar 28, 2007 6:31am Mar 28, 2007 6:31am
fxjarhead:
I'm just learning how to trade in fx market, and i think what you're talking is a good strategy. I'd like you to explain some more if you are willing to. thx bro cheersss
  • #24
  • Mar 29, 2007 4:22am Mar 29, 2007 4:22am
Quoting enno.aje
fxjarhead:
I'm just learning how to trade in fx market, and i think what you're talking is a good strategy. I'd like you to explain some more if you are willing to. thx bro cheersss
Hi enno,

Please understand, that what I was writing to the above member was a continuation of this tread regarding : Capturing 1400 pips per month/one pair.

My intention is not to endorse a "scalping" approach, as one might be lead to believe by my statements above. It is more as an example that if a trader is better capitalized ( armed with knowledge and experience) That a trader would not need to "stress" making 1400 pips/month. ( which would be one hell of a lucky month and a fluke, IMO, or require a team of traders going 24/5 ) From what I have read on many posts, I get the feeling many members here on FF are A) New.
B) Undercapitalized. C) Have unrealistic expectations. D) mostly doing demos E) See this as a hobby ( I assure you NO Trader at Bank of America is treating this as a hobby!! ) , along with several others that don't come to mind at this late/early hour.
If you read a few of my posts, you'd get a feel for my mindset. FOREX IS NOT a get rich quick vehicle....no matter how it is marketed!!! It is very cut throat....and to be "uncapitalized" IMO, is the reason so many promising traders are picked clean by the big boys. Trading, in any form, is a business.
Study all you can...get real experience ( Live )....Learn that it is not about the number of pips you can rake, it is about the value of each pip....WITHOUT using High Leverage!!!! Don't follow the herd and continue searching for the "perfect trading system"...DOES NOT EXIST, and if it did...you or I could not afford the cost one would ask. Now paying "tuition" for basic skills and a solid time tested strategy is $$ well invested....Though even before you do that, invest time with all the free info available on the net....only you can decide if the site you are viewing is reliable vs being just fluff and full of BS just to get you to order the $49 "special" greastest kept secret to riches!!!
I trade for a living....so I can't post 10-20 times per day....though during slow periods, I browse FF....actually found them for the Calender of events that they offer....you can learn tons of info just by clicking on the tab for the news release and it will explain all about the "event"....This I thought was a great teaching tool.
My apologies if you were seeking a "sure fire system" that I had up my sleeve, I do not.....Though I hope I passed along a bit of info that would help you as you begin to Learn.

Good Luck
Proper Prior Planning Prevents Piss Poor Performance
  • #25
  • Mar 29, 2007 5:18pm Mar 29, 2007 5:18pm
  •  TPO
  • | Joined Sep 2006 | Status: One Life, One Chance | 68 Posts
Thanks for your posts FXJarhead, very useful. I happen to have worked closely with one of the head UST traders for Bank of America and I can certainly attest to the fact that bank traders are not hobbyists!!

Some are really nice, some are complete arrogant sods but they all have one thing in common - rock-solid focus on the job in hand. Very very disciplined in how they work and operate.

Keep the words of advice coming please!

-TPO.
  • #26
  • Mar 30, 2007 3:26am Mar 30, 2007 3:26am
FXjarhead:
sorry mate if you're thinking i'm gonna do somethin with your strategy, I just wanna know how does the trader should trade their money wisely in forex, futures or anything like that. what's make them still exist, is it because the 1400 pips/month or what. but my personal opinion is, the way you trade is look different (it's not based on points pips, that's what i very often seen people done) and i think you're right, that's the reason why i'm asking you. BTW thank you very much mate your suggestion is very helpful, hope you enjoy your weekend cheerssss
  • #27
  • Mar 30, 2007 9:22am Mar 30, 2007 9:22am
Quoting irusoh
It seems everyone is obsessed with pips. People even want to EARN pips. LOL.
I will be happy to earn 1400 dollars even if it means making only 28 pips on 5 lots.
I didn't find a bank yet that accepts pips for deposit.

That cracks me up too. And Im really new. All you hear about is people talking about pips!!!
  • #28
  • Mar 30, 2007 10:11pm Mar 30, 2007 10:11pm
Keep talkin' guys {and Lady}, eventually loadobull will learn something that he can put in his future sales pitch to the New Newbs.
  • #29
  • Mar 31, 2007 11:49am Mar 31, 2007 11:49am
Quoting irusoh
It seems everyone is obsessed with pips. People even want to EARN pips. LOL.
I will be happy to earn 1400 dollars even if it means making only 28 pips on 5 lots.
I didn't find a bank yet that accepts pips for deposit.
great point! talking about pips is a sure sign of a newbie.
Relax and be happy.
  • #30
  • Mar 31, 2007 1:07pm Mar 31, 2007 1:07pm
Quoting merlin
great point! talking about pips is a sure sign of a newbie.
Nicely put merlin, nicely put....

Yeah, i agree abt 70% with your definition above... however... pips is the PROFIT... don't you think so?

keep happy
andy laodeabdul...
  • #31
  • Apr 1, 2007 7:14am Apr 1, 2007 7:14am
Quoting laodeabdul
Nicely put merlin, nicely put....

Yeah, i agree abt 70% with your definition above... however... pips is the PROFIT... don't you think so?

keep happy
andy laodeabdul...
True, pips is profit but not all profits are good profits. Someone who made 10000 pips a year which is equal to 10% profit, is making a bad profit. You can get 10% easily from other investment with much lower risk. In my small country, there are many companies that pays 12% dividens a year since at least 5 years ago.
  • #32
  • Apr 5, 2007 4:45pm Apr 5, 2007 4:45pm
Quoting luqmanz
True, pips is profit but not all profits are good profits. Someone who made 10000 pips a year which is equal to 10% profit, is making a bad profit. You can get 10% easily from other investment with much lower risk. In my small country, there are many companies that pays 12% dividens a year since at least 5 years ago.

Could you explain your math behind this statement, I am not following how 10,000 pips raked is equal to a 10% profit. What are your numbers based on?? 10,000 pips at $100usd each would be $1mil...correct.....I suppose on a 10mil account that would be 10%.....maybe I missed something.
Thanks
Proper Prior Planning Prevents Piss Poor Performance
  • #33
  • Apr 5, 2007 5:01pm Apr 5, 2007 5:01pm
The focus should not be on the numbers of pips or dollars gained but the effective rate of return of money invested versus the risk taken. And if it was done while following the proper trading rules.

Where does the 1400 pips minimum amount come from anyway? Why not 14,000 or whatever number?

Is that how much you need to pay the rent, car, gas, electric, water, phone and mistress.
  • #34
  • Apr 6, 2007 12:42pm Apr 6, 2007 12:42pm
Quoting SunTrader
The focus should not be on the numbers of pips or dollars gained but the effective rate of return of money invested versus the risk taken. And if it was done while following the proper trading rules.

Where does the 1400 pips minimum amount come from anyway? Why not 14,000 or whatever number?

Is that how much you need to pay the rent, car, gas, electric, water, phone and mistress.
Yes, you make your point...

The focus should not be on the numbers of pips or dollars gained but the effective rate of return of money invested versus the risk taken. And if it was done while following the proper trading rules.

Anyway... as i said earlier when I have been following the proper of my trading rules it takes me out -100 pips and on another month gives me +2000 pips. That's make me sad...
  • #35
  • Apr 6, 2007 1:09pm Apr 6, 2007 1:09pm
FXJarhead, not everyone trades standard $100,000 lots. I can trade $1,000 nanolots with FXSol, where each pip is worth only $0.10....

So 10,000 pips would only be a $1,000 gain in that example.

Quoting FxJarhead
Could you explain your math behind this statement, I am not following how 10,000 pips raked is equal to a 10% profit. What are your numbers based on?? 10,000 pips at $100usd each would be $1mil...correct.....I suppose on a 10mil account that would be 10%.....maybe I missed something.
Thanks
  • #36
  • Apr 6, 2007 3:01pm Apr 6, 2007 3:01pm
Quoting laodeabdul
Yes, you make your point...

The focus should not be on the numbers of pips or dollars gained but the effective rate of return of money invested versus the risk taken. And if it was done while following the proper trading rules.

Anyway... as i said earlier when I have been following the proper of my trading rules it takes me out -100 pips and on another month gives me +2000 pips. That's make me sad...
Poor baby, you have to settle for a net of +1900 pips, if those are real numbers. Something, maybe the posts of this thread leaves me to believe they are not.
  • #37
  • Apr 9, 2007 5:08am Apr 9, 2007 5:08am
Quoting FxJarhead
Could you explain your math behind this statement, I am not following how 10,000 pips raked is equal to a 10% profit. What are your numbers based on?? 10,000 pips at $100usd each would be $1mil...correct.....I suppose on a 10mil account that would be 10%.....maybe I missed something.
Thanks
No no.. those numbers are just example. The idea is to focus on actual profit made, not on pips. There are methods where you don't make many pips..but the profit is very good.
  • #38
  • Apr 9, 2007 5:15am Apr 9, 2007 5:15am
Quoting luqmanz
No no.. those numbers are just example. The idea is to focus on actual profit made, not on pips. There are methods where you don't make many pips..but the profit is very good.
what is scalping.. and i think it might be risky business(raises a lot if spread mangling) but every one have own style for sure. but i rather like to look "avarange" pips and later can add more level(account size) in what brings more profits.
  • #39
  • Apr 10, 2007 6:08am Apr 10, 2007 6:08am
Quoting Mother
what is scalping.. and i think it might be risky business(raises a lot if spread mangling) but every one have own style for sure. but i rather like to look "avarange" pips and later can add more level(account size) in what brings more profits.
Scalping is taking small profit many times and be right most of the time.
I've tried it. I still do it sometimes. I don't really like it because it's too tiring. :.
  • #40
  • Apr 14, 2007 4:43am Apr 14, 2007 4:43am
Sorry guys, sorry all, I need to request administrator to close this thread because I think it deviate from my purpose to start this thread. Anyway, thank you very much for your contribution so far . Many thanks.

With regards,
Andy Laodeabdul.
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