yeeeah, i made 24 pips this month!!! | Forex Factory

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yeeeah, i made 24 pips this month!!!

  • #1
  • First Post: Mar 30, 2010 9:32pm Mar 30, 2010 9:32pm
I started trading live this month, and i have made 24 pips, and 4% gain on my account.

hooray for me
  • #2
  • Mar 30, 2010 9:38pm Mar 30, 2010 9:38pm
Quoting halfstep
I started trading live this month, and i have made 24 pips, and 4% gain on my account.

hooray for me
good tradin' - just leave some for me
  • #3
  • Mar 30, 2010 10:01pm Mar 30, 2010 10:01pm
24 pips equate to 4% of your account? Sounds dangerous to me. All you need is 600 pips to wipe out the whole account. That happens very very fast man.

I'm thinking you are overleveraged.
  • #4
  • Mar 30, 2010 10:06pm Mar 30, 2010 10:06pm
Quoting thelws
24 pips equate to 4% of your account? Sounds dangerous to me. All you need is 600 pips to wipe out the whole account. That happens very very fast man.

I'm thinking you are overleveraged.
Your lot sizes are WAY too large... however... congrats on your gain.

Mike
  • #5
  • Mar 30, 2010 11:51pm Mar 30, 2010 11:51pm
Quoting halfstep
I started trading live this month, and i have made 24 pips, and 4% gain on my account.

hooray for me
how many trades did you do?
  • #6
  • Mar 31, 2010 4:14am Mar 31, 2010 4:14am
Quoting halfstep
I started trading live this month, and i have made 24 pips, and 4% gain on my account.

hooray for me
There will be some doubters who respond to your post, but well done on a profitable first month and you deserve to give yourself a pat on the back!

If you can return 4% per month consistently over many months and years, then you will be in the top fraction of a percent of traders.

The rest of us should not assume anything about 24 pips / 4% equating to dangerous trading - that's for you to work out yourself.

All the best!
  • #7
  • Mar 31, 2010 5:48am Mar 31, 2010 5:48am
Don't set false expectations, be aware. I can guarantee that you will get a margin call soon.
24 pips = 4% account increase, not good.
  • #8
  • Mar 31, 2010 6:16am Mar 31, 2010 6:16am
Either way man good job.....I agree tho here today gone tomm....R/R is key
  • #9
  • Mar 31, 2010 7:10am Mar 31, 2010 7:10am
When 1% of your account is equal to 6 pips, you're overleveraged, no matter what anyone says.

The fact you posted it tells us that you've invested a lot emotion into winning. That's a BAD THING!

What happens when you lose 60 pips, which can be done very quickly, btw, and you lose 10%+? And don't think it won't happen, because it will and probably a lot sooner than you think.

I normally don't share what I do but let me share a bit here. I went 2.5+ years managing money without a single losing month (there were some BE months, no doubt). Then starting last September, I lost every month right through January. I'm just about at the high water mark two months later. I've been trading for a long time and if I can lose for 5 months straight, what do you think is going to happen to you?

Don't get us wrong, we're not here to beat you down, as some so quickly assume. Many of us have been down this road and we're just passing on what we know and have experienced. Do what you will with it.
  • #10
  • Mar 31, 2010 8:52am Mar 31, 2010 8:52am
We don't know how he made those 24 pips or what his money management strategy was, risk may well have started out very conservatively and even led to zero risk.

I understand what you guys are saying and you're probably right, he's more than likely after some fast bux and will blow out pretty soon, but there are other explanations if you think about it.


I'm not sure his numbers are right anyway, I calculate 13.14 on 250 to be ~5.25%

http://www.mt4stats.com/sig2/halfstep.gif
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  • #11
  • Mar 31, 2010 10:25am Mar 31, 2010 10:25am
i trade about 2-3 times/ week. if my confidence is high, i place 2 lots, each lot is 1k, this is will be done with multiple exits. if my confidence is lower, i will be placing 1 lot trade, each lot of 1k.

my account is $250, and each pip is maximum of 20 cents.
  • #12
  • Mar 31, 2010 12:39pm Mar 31, 2010 12:39pm
Quoting halfstep
i have made 24 pips, and 4% gain on my account.

hooray for me

Quoting halfstep
i trade about 2-3 times/ week. if my confidence is high, i place 2 lots, each lot is 1k, this is will be done with multiple exits. if my confidence is lower, i will be placing 1 lot trade, each lot of 1k.

my account is $250, and each pip is maximum of 20 cents.

hooray for you sure, but how did you get 4% with 24 pips if "each pip is maximum of 20 cents"?

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  • #13
  • Mar 31, 2010 7:38pm Mar 31, 2010 7:38pm
Quoting pipmutt
hooray for you sure, but how did you get 4% with 24 pips if "each pip is maximum of 20 cents"?

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i have been lucky so far, and most of the trades i have lost are all 1k size, with my winners all being 2k lots, and are above 50+ pips, while my losers are 1k and much smaller pip losses. check out my signature link to get a feel for my trades. I strive to be a swing trader, and all my winners comes from relatively multi day bigger moves.
  • #14
  • Last Post: Apr 1, 2010 8:16am Apr 1, 2010 8:16am
Quoting Dopey
When 1% of your account is equal to 6 pips, you're overleveraged, no matter what anyone says.

The fact you posted it tells us that you've invested a lot emotion into winning. That's a BAD THING!

What happens when you lose 60 pips, which can be done very quickly, btw, and you lose 10%+? And don't think it won't happen, because it will and probably a lot sooner than you think.
I share same opinion..at a first view..


Cheers
"Those who fail to prepare, are preparing to fail."
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