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Which is a better strategy to make money?

  • Poll

  • Which is a better strategy to make 100 pips ?
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  • #1
  • First Post: Feb 3, 2010 8:37am Feb 3, 2010 8:37am
Please vote and post your chosen option as well as your opinion.

Thanks
  • #2
  • Feb 5, 2010 6:29pm Feb 5, 2010 6:29pm
I would say it would depend on your trading style. For example if you are a day trader, then multiple trades will be your strategy, however for a swing trader 1 single trade for large pips might be the trading style
  • #3
  • Feb 5, 2010 8:14pm Feb 5, 2010 8:14pm
I personally like both, it depends on the market situation. But for me I'm more of a swing trader so I like the few trades I might do in a week for bigger moves.

But like forexmarket says... the best strategy is the one that suits a trader's personality.
  • #4
  • Feb 5, 2010 8:32pm Feb 5, 2010 8:32pm
Quoting ric3bowl
I personally like both, it depends on the market situation. But for me I'm more of a swing trader so I like the few trades I might do in a week for bigger moves.

But like forexmarket says... the best strategy is the one that suits a trader's personality.



Nicely put.... however we dont really have the choice of preference, we can only take what the market have to offer on any given day.

The most important thing is to have a trading plan/methodology to trade in all kind of market conditions so that you can trade profitably in whichever and whatever market conditions the market have to offer.

GL and cheers..........
  • #5
  • Feb 5, 2010 9:58pm Feb 5, 2010 9:58pm
I'm a daytrader but buddy of mine does swing trading. We have never compared how many pips we have made - after all it comes to money. Some months I make more than him and some he's "better". No matter what kind of trading You prefer You can be profitable. It's money what counts - unless you're demoing.
  • #6
  • Feb 5, 2010 10:19pm Feb 5, 2010 10:19pm
Systems are very important. The one I have has been called by my friends the holist of holist. I will share it here with you since I can tell you eminently want to learn how to trade the FOREX market..

Based on my research and crunching the numbers and doing the nitty gritty I have come to the sound and accurate conclusion that the AUD/USD is due for a 800 pip correction in the next week possibly 2.

I am posting this trade for you to take. After that I will slowly share the rules and methodologies behind this stupendous system


Enter a long trade as soon as price breaks the Watson/Ficher scalp level to the upside. Set a hard target at 800 pips.

Sit back and collect the doe.

I will stop back by to provide attritional information as well as more explanation on how I was able to use my system to accurately pinpoint this amazing turnaround.

Master Tater

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 85 KB
  • #7
  • Feb 6, 2010 1:18pm Feb 6, 2010 1:18pm
Thanks for the share guys..

Profits depend a lot on how well you implement the trade management skills..
  • #8
  • Feb 6, 2010 2:54pm Feb 6, 2010 2:54pm
trades should be held as long as they continue to produce profits.

opinion - big trades tight stops.. the risk:reward ration should be an average of trades taken no a set risk to reward.. market defined.
  • #9
  • Feb 6, 2010 4:01pm Feb 6, 2010 4:01pm
Quoting AlbertTater
Systems are very important. The one I have has been called by my friends the holist of holist. I will share it here with you since I can tell you eminently want to learn how to trade the FOREX market..

Based on my research and crunching the numbers and doing the nitty gritty I have come to the sound and accurate conclusion that the AUD/USD is due for a 800 pip correction in the next week possibly 2.

[font=Calibri][size=3]I am posting this trade for you to take. After that...
Hi Albert Tater,
Thanks for sharing.
What is the exact entry price and stop loss?
  • #10
  • Feb 6, 2010 8:50pm Feb 6, 2010 8:50pm
.8464 is where price much breach to the upside. That is the level of the Watson/Ficher scalp level. As far as stop loss I never set them due to the extreme accuracy of my system. I find them more of a hindrance.

Mostly uneducated people set stop loss orders due to not trusting their system completely and totally.

If you wish to set a stop loss on that trade I would set it around .8200

Happy Trading

Master Tater
  • #11
  • Feb 8, 2010 5:22am Feb 8, 2010 5:22am
Quoting AlbertTater
.8464 is where price much breach to the upside. That is the level of the Watson/Ficher scalp level. As far as stop loss I never set them due to the extreme accuracy of my system. I find them more of a hindrance.

Mostly uneducated people set stop loss orders due to not trusting their system completely and totally.

If you wish to set a stop loss on that trade I would set it around .8200

[color=black][font=Verdana]Happy...
Wow that is quite a comment coming from someone who within their first few posts in there journal blew up. I mean seriously. Extremely accurate and no SL's, I am looking forward to the next unforeseen blow up with an excuse... and uneducated people please, if it means staying alive then I would be happy to be the most uneducated person trading. In almost 6 years I have yet to blow an account, in fact I am infront so if that is uneducation vs education in your case, then call me 'stupid'.

Razor
  • #12
  • Feb 8, 2010 6:11am Feb 8, 2010 6:11am
Thank you AlberTater for the information of the entry point and stop loss. I reckon that many people will be willing to learn your system once the 800 pips target is met.
  • #13
  • Feb 8, 2010 6:29am Feb 8, 2010 6:29am
Quoting Razor_trader
Wow that is quite a comment coming from someone who within their first few posts in there journal blew up. I mean seriously. Extremely accurate and no SL's, I am looking forward to the next unforeseen blow up with an excuse... and uneducated people please, if it means staying alive then I would be happy to be the most uneducated person trading. In almost 6 years I have yet to blow an account, in fact I am infront so if that is uneducation vs education in your case, then call me 'stupid'.

Razor
Agree, Razor.

Some people just like stepping in front of freight trains and their egos can't admit to themselves or anyone else that they don't really know what they are doing or that they could be wrong or heaven forbid take a loss without thinking the market or their broker is out to get them.

I'm actually very thankful for traders like Albert. Whenever I want to accumulate a heavy position at the bottom of a market swing, these guys are more than willing to sell to me. And then when I need to dump a massive position near the top of a long term swing, Albert and his gang are there waiting to happily absorb everything I'm willing to sell.

So I say more power to them! Long live self-proclaimed trading geniuses!

-Razorjack
  • #14
  • Feb 8, 2010 7:10am Feb 8, 2010 7:10am
I will never understand why people enter the fx market, only to catch a few pips here and there.

Take a look on eur/usd, it have been going almost straight down since the start of 2010 (also called a downtrend) by 900 pips, 300 pips retrace before falling even more than the first down-move ! Considering the fact that most pairs move > 100 pips daily/ > 250 pips weekly, should make it less attractive aiming only for a 20 pips move on average.
Measure twice, cut once
  • #15
  • Feb 8, 2010 7:51am Feb 8, 2010 7:51am
Quoting AlbertTater
.8464 is where price much breach to the upside. That is the level of the Watson/Ficher scalp level. As far as stop loss I never set them due to the extreme accuracy of my system. I find them more of a hindrance.

Mostly uneducated people set stop loss orders due to not trusting their system completely and totally.

If you wish to set a stop loss on that trade I would set it around .8200

[color=black][font=Verdana]Happy...

Albert, are you sure about the 84xx. I have the level closer to 76xx.
bull in a china shop
  • #16
  • Feb 8, 2010 8:43am Feb 8, 2010 8:43am
Quoting aediaz1
I will never understand why people enter the fx market, only to catch a few pips here and there.

Take a look on eur/usd, it have been going almost straight down since the start of 2010 (also called a downtrend) by 900 pips, 300 pips retrace before falling even more than the first down-move ! Considering the fact that most pairs move > 100 pips daily/ > 250 pips weekly, should make it less attractive aiming only for a 20 pips move on average.
Couldnt agree more. Much less stressful also taking bigger chunks
  • #17
  • Feb 8, 2010 8:50am Feb 8, 2010 8:50am
Quoting plasmapants
Albert, are you sure about the 84xx. I have the level closer to 76xx.
I would love him to prove me wrong along with others but seriously someone who

1) Has blown his account without using a SL (naturally)
2) Claims an amazing strategy that comes highly recommended (Not Merlins)
3) and claims that SLs are for uneducated people

should be taken lightly, very lightly. I cant imagine why someone with such little influence and who has already caused himself damage has recieved 2 vouches already. It really does'nt bring alot of credibility to the system which to some unfortunate degree is one of the first signs some (mainly new) traders look for for valuable information.

He will be right on occasions due to the nature of the markets, but when his calls are wrong I really hope new traders employ a SL as a bare minimum to there 'capital preservation and risk management'. If they do then they wont be reloading an account due to 'educated' trading.

Razor
  • #18
  • Feb 8, 2010 9:03am Feb 8, 2010 9:03am
The guy is clearly taking the piss. Look at his profile picture and description FFS! Quite entertaining but I didn't realise vouches were given out for comedy these days.

Quoting Razor_trader
I would love him to prove me wrong along with others but seriously someone who

1) Has blown his account without using a SL (naturally)
2) Claims an amazing strategy that comes highly recommended (Not Merlins)
3) and claims that SLs are for uneducated people

should be taken lightly, very lightly. I cant imagine why someone with such little influence and who has already caused himself damage has recieved 2 vouches already. It really does'nt bring alot of credibility to the system which to some unfortunate degree is one of the first signs...
  • #19
  • Feb 8, 2010 9:14am Feb 8, 2010 9:14am

Good morning all.



The main reason I do not use stop loss orders.
1. I trust my system just as much as I trust Jesus and the Catholic church
2. My broker likes to hunt for my particular stops and usually finds them and steals my money.
3. Stop loss orders especially anything under 200 pips are for uneducated traders and mostly amateurs. The pro’s don’t set “tight” stop loss orders.


I am not sure who this “Merlin” fellow is you are referring to however I can assure you my system is stupendous in its own right.


On a lighter note. I will begin to share my system with you guys in my Journal of Trading wisdom.


I will not bog you all down with advanced technical analysis that I use. My system is stupendous and I will be posting screen shots along with my personal notes on the trades I take.

I hope to see you all roaming the halls of my Journal in the near future.

Master Taters Journal (professional)
http://www.forexfactory.com/showthread.php?t=218592


Thanks and Happy trading


Master Tater
  • #20
  • Feb 8, 2010 9:28am Feb 8, 2010 9:28am
I asked a simple question and this clown came around and used the thread to promote his system...oh well public forums....

Anyway, thank you to everybody who participated in the vote. Its seems at the moment (although a small sample) most people prefer to capture one big move (about 65%).

Personally I prefer the second choice, I feel it is easier and less stressful to take small multiple profits then to sit out for a big one.
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