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Cable Update (GBPUSD)

  • #187,301
  • Dec 12, 2009 12:16pm Dec 12, 2009 12:16pm
nice trading .....

but in reality you only made 103 pip in trading with 1 lot or $1032. Odd how people report the pips they made. Kind of like if i trade 10 lot and make 100 pip gj do i make 100 pip or 10,000 pips ? i say it is 100 pip

But very nice trading .....

Quoting Yngwie
Loss -27 pips


Loss -15pips

My AUD/USD trade



Total posted trade in FF is 862 pips.

and plus not posted trade as attached 170 pips.

Overall total profit for this week is 1032 pips
Blogging daily now at www.volume.zone
  • #187,302
  • Dec 12, 2009 12:18pm Dec 12, 2009 12:18pm
Quoting egkid
Hello malcolmb
Watch out U/CAD

looks like weekly could move up over the course of time into 1.2000


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Click to Enlarge Name: chart1392.png Size: 178 KB
Blogging daily now at www.volume.zone
  • #187,303
  • Dec 12, 2009 12:49pm Dec 12, 2009 12:49pm
Quoting malcolmb14
nice trading .....

but in reality you only made 103 pip in trading with 1 lot or $1032. Odd how people report the pips they made. Kind of like if i trade 10 lot and make 100 pip gj do i make 100 pip or 10,000 pips ? i say it is 100 pip

But very nice trading .....
Well, I look at it like this, if you trade a 10 lot, and made 100 pips, that is 1,000, not 10k...but that's just what I can remember about grade 3 math.

Overall, if I play 6 lots, I make 10 pips, it is per lot, that's a 60 pip gain.

I don't find this odd...

I play the same trend several times over, taking small bites at the apple and closing partial positions, or adding as the trend allows, this gives a better understanding as to another way of trading.

Over the past week I have posted a few of my trades, showing that I might have opened with a 4 lot, closed 2 lots at one price closed the rest at another....the total pips from the start of the this trade to the exit at final position is the total pip gainage, or loss...

Seems reasonable to me.

Everybody posts price targets...target 1 hit, target 2 hit......

This is logic that I adopted back in the days of trading stocks. First target, exit half position, second target, exit half of what is left, exiting all at the take or fall back from 3rd target.

Practical terms, it makes sense, whether you are playing for dimes or $10 dollar lots, the net gain on lot size = total pip count. I made $5 dollars this week playing dimes, that is a 50 pip take. How I got here is unimportant, the final destination is what is.

Perspective.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,304
  • Dec 12, 2009 1:16pm Dec 12, 2009 1:16pm
If my buy and sell signals generate 500 pips of results that has a different meaning than saying I traded 50 lots for 10 pips. It is also different if I did 1 trade for 500 pips or 50 trade, each for 10 pips. Each shares something different.

Also there is the emotions that impact the ability to trade. There is a huge difference in trading a penny a pip or $5,000 a pip. So by sharing my pip gain, I could be sharing my decisions, my cash and risk management, or my psychological edge.

BR



Quoting Magix
Well, I look at it like this, if you trade a 10 lot, and made 100 pips, that is 1,000, not 10k...but that's just what I can remember about grade 3 math.

Overall, if I play 6 lots, I make 10 pips, it is per lot, that's a 60 pip gain.

I don't find this odd...

I play the same trend several times over, taking small bites at the apple and closing partial positions, or adding as the trend allows, this gives a better understanding as to another way of trading.

Over the past week I have posted a few of my trades, showing that I might have opened...
  • #187,305
  • Dec 12, 2009 2:11pm Dec 12, 2009 2:11pm
Quoting Big1red9
If my buy and sell signals generate 500 pips of results that has a different meaning than saying I traded 50 lots for 10 pips. It is also different if I did 1 trade for 500 pips or 50 trade, each for 10 pips. Each shares something different.

Also there is the emotions that impact the ability to trade. There is a huge difference in trading a penny a pip or $5,000 a pip. So by sharing my pip gain, I could be sharing my decisions, my cash and risk management, or my psychological edge.

BR

Point taken.

The thread here is based on daily trades by daily traders. Though not impossible for us to see a 500 pip in a day, the probability just isn't there. Where a lot of traders get lost is that they seem to think that if they see the words buy or sell as forever holds, when it might just be a quick scalp.

Posting forever targets are just that and a lot of information might get lost in the translation.

I have seen traders take position, gain 100 pips in favor to hold trade through to a 15 pip loss, some even greater, 500 pips up to 200 pips back. ACTUAL PIPS.

The psychology of trading pennies to dollars is the same, and is all based on the same logic. IF you are trading for pennies, then you are in a position that this is the lot size that you can afford, much the same as if you are trading for the greater sizes.

Logic is still the same, your lot size trading is your pip count, as far as I see it, but I am surely not going to try and dictate perspective for others.

A pip = 1 lot. If you trade in multi lots then it is that lot size x the pip gains/lost that = net gains by way of pips.

For those of us that are trading for pennies, I congratulate as if were trading for dollars, it is still skin in the game.

As a salesperson from a long time ago, a phrase was used to help generate sales. I used to be a pitchman, and whenever meeting with a price objection always responded with the same phrase, insulting people into a buy, rather then trying to overcome the objection...it went like this.

$20 is only a lot of money, if you don't have $20.

Believe me, nobody wanted me to think they couldn't afford $20...

Again...

Perspective.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,306
  • Dec 12, 2009 2:12pm Dec 12, 2009 2:12pm
Quoting malcolmb14
looks like weekly could move up over the course of time into 1.2000


Attachment
I think Buy limit 1.0580 sl 1.0390 (For fastTP) 1.0880 AND For long If Daily close above 1.0920 Buy and leave it, TP close [email protected]
  • #187,307
  • Dec 12, 2009 2:35pm Dec 12, 2009 2:35pm
Magic,

I agree with almost everything you have shared.

I think different points of view are critical, especially to a newcomer. They are able to see there is more than one thought and more than one way to do it.

Having said that For me, if I loose $3.00 in penny pips the impact is not the same as losing $30,000. Even if in each case it were to be 10% of my account and that equaled 50% of my net worth. If the loss is 1% of my net worth, the impact less than if it was 75%. While I agree the same logic is in play, the emotional shock to the system for most will be greater when losing the cost of a hamburger as compared to the cost of a car. That does not negate the significance of someone putting it all together and earning 300 pips in pennies. That is as significant from every other perspective.

Have a great day.
BR

Quoting Magix
Point taken.

The thread here is based on daily trades by daily traders. Though not impossible for us to see a 500 pip in a day, the probability just isn't there. Where a lot of traders get lost is that they seem to think that if they see the words buy or sell as forever holds, when it might just be a quick scalp.

Posting forever targets are just that and a lot of information might get lost in the translation.

I have seen traders take position, gain 100 pips in favor to hold trade through to a 15 pip loss, some even greater, 500 pips up to...
  • #187,308
  • Edited 6:49pm Dec 12, 2009 6:09pm | Edited 6:49pm
Quoting Yngwie
Loss -27 pips


Loss -15pips

My AUD/USD trade



Total posted trade in FF is 862 pips.

and plus not posted trade as attached 170 pips.

Overall total profit for this week is 1032 pips
1000 pips are 1000 pips.. and You've done an excellent job..

You squeezed 1000p this week out of the FX market.. and that's counts only.. Everything else is a Money management.. doesnt matter you've traded 1 lot, or 100 lots, - that's has to do with your account size as well with your MM rules..

And dont listen anyone who is jealous on your success...

Again, GOOD JOB mate.. keep it up..
  • #187,309
  • Dec 12, 2009 6:51pm Dec 12, 2009 6:51pm
no ... 100 pip on 10 standard is $10,000 on gu and eu , do not forget leverage is 1:100...

I am not talking about 10 minis...lol , 10 mini = 1 standard

and what you do by taking bites out of the trends is awesome , kind of how i trade as I have mentioned several times before.

Quoting Magix
Well, I look at it like this, if you trade a 10 lot, and made 100 pips, that is 1,000, not 10k...but that's just what I can remember about grade 3 math.

Overall, if I play 6 lots, I make 10 pips, it is per lot, that's a 60 pip gain.

I don't find this odd...

I play the same trend several times over, taking small bites at the apple and closing partial positions, or adding as the trend allows, this gives a better understanding as to another way of trading.

Over the past week I have posted a few of my trades, showing that I might have opened with...
Blogging daily now at www.volume.zone
  • #187,310
  • Dec 13, 2009 5:40am Dec 13, 2009 5:40am
My daily chart - more on my blog
Attached Image (click to enlarge)
Click to Enlarge Name: 20091211gbpD.gif Size: 27 KB
  • #187,311
  • Dec 13, 2009 8:57am Dec 13, 2009 8:57am
Quoting Piters
1000 pips are 1000 pips.. and You've done an excellent job..

You squeezed 1000p this week out of the FX market.. and that's counts only.. Everything else is a Money management.. doesnt matter you've traded 1 lot, or 100 lots, - that's has to do with your account size as well with your MM rules..

And dont listen anyone who is jealous on your success...

Again, GOOD JOB mate.. keep it up..
agree with you..pips are pips doesn't matter whats your trading size..for me, 1000 nett pips in one week is extraordinary..but i want to know how is the risk ratio? that is in gambling way or trading way?..
Patience + Discipline =
  • #187,312
  • Dec 13, 2009 10:51am Dec 13, 2009 10:51am
hello everyone,

i am enjoying all the ideas that is being traded here. i am a noob and just started two months ago and lost some when i started a live account. so i am now on a demo account testing and creating my own strategy. so far I am finding success for this pair GBP/USD and have decided will just focus on trading this pair.

i just would like to extend my very huge appreciation to everyone's contribution to this thread. i am actually learning exponentially reading through forums like this and learning from actual trades than from the online tutorials and training sites. hope someday i will be able to also contribute and help the future noobs the same way everyone here is helping us noobs.

thanks again for all your inputs and may gain more pips everyday.
  • #187,313
  • Dec 13, 2009 12:07pm Dec 13, 2009 12:07pm
Hello..

Last week I have also made 1000+ pips based on a 5-digit broker.. trading during the UK and US Session with a SL of 15 pips and 30 pip TP. Trading only 1 mini contract, based according to MM.

Tommycz
Attached Image
  • #187,314
  • Dec 13, 2009 12:14pm Dec 13, 2009 12:14pm
Quoting tommycz
Hello..

Last week I have also made 1000+ pips based on a 5-digit broker.. trading during the UK and US Session with a SL of 15 pips and 30 pip TP. Trading only 1 mini contract, based according to MM.

Tommycz
the forum is not for show off yourself, its for ppl exchange information and opion about the market,i believe there is a lot of pro here making more than ur "1000+ pips"
  • #187,315
  • Dec 13, 2009 1:59pm Dec 13, 2009 1:59pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
fantastic dude, plz post your trades so we can take them and make lot's of money with u.!!




Quoting tommycz
Hello..

Last week I have also made 1000+ pips based on a 5-digit broker.. trading during the UK and US Session with a SL of 15 pips and 30 pip TP. Trading only 1 mini contract, based according to MM.

Tommycz
  • #187,316
  • Dec 13, 2009 2:18pm Dec 13, 2009 2:18pm
Quoting tommycz
Hello..

Last week I have also made 1000+ pips based on a 5-digit broker.. trading during the UK and US Session with a SL of 15 pips and 30 pip TP. Trading only 1 mini contract, based according to MM.

Tommycz

umm i beleive that u have made 102 pips and not 1000
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #187,317
  • Dec 13, 2009 2:36pm Dec 13, 2009 2:36pm
Quoting Jemmy
agree with you..pips are pips doesn't matter whats your trading size..for me, 1000 nett pips in one week is extraordinary..but i want to know how is the risk ratio? that is in gambling way or trading way?..
lets clarify .. look at the statement he made 103 pips on 1 lot and is calling that 1032 pips. Each pip he counts as $1 ,in which case if i trade 10 standard (10K at 1:100) and i make 100 pips i have just made 10,000 pips according to the way that that fellow is reporting his pips

so in reality he made 103 pip , which is profit , but not fantastic considering that the gu was in a 100 pip range half the week and a 300 pip drop at beginning of week so i do not really know what the guy is shouting form the roof tops about.
Blogging daily now at www.volume.zone
  • #187,318
  • Edited 3:25pm Dec 13, 2009 3:05pm | Edited 3:25pm
Quoting malcolmb14
lets clarify .. look at the statement he made 103 pips on 1 lot and is calling that 1032 pips. Each pip he counts as $1 ,in which case if i trade 10 standard (10K at 1:100) and i make 100 pips i have just made 10,000 pips according to the way that that fellow is reporting his pips

so in reality he made 103 pip , which is profit , but not fantastic considering that the gu was in a 100 pip range half the week and a 300 pip drop at beginning of week so i do not really know what the guy is shouting form the roof tops about.
Well, Lets clarify... really:

1. he said clearly that He posted already calls here on FF trades 862 pips... (you may check his posts.. - I didnt)

and

2. not posted on FF but listed on his statement = 170pips.. (clearly)

3. That makes over 1000pips in my MATH... book.. and for a week, that is an EXCELLENT job..


???? Honestly Malc.. As a SENIOR trader.. you should Support other guys.. NOT Trying to COMPETE with them...

cheers!


P.S. link from his last post..

Quoting Yngwie
Loss -27 pips


Loss -15pips

My AUD/USD trade



Total posted trade in FF is 862 pips.

and plus not posted trade as attached 170 pips.

Overall total profit for this week is 1032 pips
  • #187,319
  • Dec 13, 2009 3:26pm Dec 13, 2009 3:26pm
Quoting Piters
1000 pips are 1000 pips.. and You've done an excellent job..

You squeezed 1000p this week out of the FX market.. and that's counts only.. Everything else is a Money management.. doesnt matter you've traded 1 lot, or 100 lots, - that's has to do with your account size as well with your MM rules..

And dont listen anyone who is jealous on your success...

Again, GOOD JOB mate.. keep it up..

I agree. Good job!!
  • #187,320
  • Dec 13, 2009 3:34pm Dec 13, 2009 3:34pm
Looks as though we can see a rising wedge on the 4hour through the monthly. This sets up a possible reversal for the continued downtrend. The long awaited Wave 3 does not appear to be fully validated, but volume decrease and increase supports the rising wedge for its formation and support line break for bearish conformation. Too soon to fully call this one, although the EUR/USD looks much stronger for this bearish position. The EUR/USD is less reliable for chart patterns in my opinion, so let's see how the next few days play out.
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