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Help creating a 1 pip system!

  • #101
  • Jul 28, 2010 7:16am Jul 28, 2010 7:16am
Quoting Leverage
Just a thought here regarding any system that requires 99.9% accuracy:

You will never know the true accuracy of the system in practice. When using this extreme confidence level you must be certain what will happen if your accuracy rate is not right.

In the original example you have a 40% stop loss, and let's use 10,000 trials in our sample.

At 99.9% you would expect to have your stop loss hit 10 times. According to your model it would still be a profitable strategy.

But then consider maybe your model is wrong and you are only accurate 99.8%...
Heh, almost impossible.
  • #102
  • Aug 1, 2010 10:55pm Aug 1, 2010 10:55pm
Going after one pip is one of the silliest things I've come across recently, to be honest. I don't mean this as an insult, but given the range of currencies, it just makes me laugh a little. No broker will let you trade a one pip system with large lots for long before they kick you out or start messing around with your entries or exits.

It is quite obvious that you are very new to trading and need to experience it all yourself so go ahead and make the mistakes that each fledgling trader has made in the past (including your truly). There's no escaping that - only you can make your mistakes. What you can do is make sure that those mistakes end up costing you as little as possible.

Other than that, if you want to pocket pips, and I'm not talking about just one lil' pip, but around 10 to 50 pips with relative ease, I suggest you look into the Sunday bar strategy. Open a 4 hour chart and put on the period separators, now draw horizontal lines around the high and low of the Sunday bar (your broker has to have Sunday bars for it to work). It should be pretty obvious from there. In the end, you still have go through all the stages of development and that most certainly includes losing money in the process.
If you don't risk, you don't ever have to lose.
  • #103
  • Last Post: Apr 21, 2012 4:13pm Apr 21, 2012 4:13pm
Did you ever come up with a 1 pip system? I am trying to come up with a 1 pip system.
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