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  • #21
  • Mar 9, 2006 4:10pm Mar 9, 2006 4:10pm
Fx-trader,
Thanks for such a clear way to show your %profit. I a question that you might like to answer: How long have you been trading?

At the beginning you had small losses then yours turned out much bigger! Did change lot size or what!! (just curious)
Anyway, at the end of the day you turn out winner. All's well that ends well.
  • #22
  • Mar 10, 2006 10:03am Mar 10, 2006 10:03am
I have been trading for almost 2years. I started with DEMO and then had mini which I blew up then I had my findings and you see one of them on the file I have posted

No this small gainc come from trading using 2:1 leverage

this big losses and gains come from using 10:1 leverage. But I use my own system which brings more gains than losses and is not as risky as it seems (10:1 leverage)
kiss the trend
  • #23
  • Mar 10, 2006 10:07am Mar 10, 2006 10:07am
And my system has so good results when I backtested it that I think one day James16 will invite me to his great group


that's my wish

I am working on my systems currently now I am working on filters to make it more reliable
kiss the trend
  • #24
  • Mar 10, 2006 12:05pm Mar 10, 2006 12:05pm

Backtesting! That's the keyword to successful trading systems, I think.

Good luck, Fx-trader777.


Let's get back to %, any buddy wanna share their %gain with the members?

  • #25
  • Mar 10, 2006 7:09pm Mar 10, 2006 7:09pm
I think the best thing for beginners to do is just try to shoot for a pip target. Don't focus on the $$$$ you are gaining. After all the game is to capture pips each day, week or month.

Write down a PIP Target for the day, week or month. Learn how to capture that on a successful basis...trading ONLY one lot per trade

Then it's just a matter of bumping up the amount of lots you trade and doing the same thing over and over and over again.

Until it become a boring process.
- SAFE TRADING MONEY DUCK
  • #26
  • Mar 10, 2006 10:50pm Mar 10, 2006 10:50pm
Quoting fx-trader777
And my system has so good results when I backtested it that I think one day James16 will invite me to his great group


that's my wish

I am working on my systems currently now I am working on filters to make it more reliable
thanks fx. keep up the good work.
  • #27
  • Mar 10, 2006 11:51pm Mar 10, 2006 11:51pm
Quoting james16
thanks fx. keep up the good work.

Right Jim
kiss the trend
  • #28
  • Mar 11, 2006 7:21am Mar 11, 2006 7:21am
Quoting Money Duck
I think the best thing for beginners to do is just try to shoot for a pip target. Don't focus on the $$$$ you are gaining. After all the game is to capture pips each day, week or month.

Write down a PIP Target for the day, week or month. Learn how to capture that on a successful basis...trading ONLY one lot per trade

Then it's just a matter of bumping up the amount of lots you trade and doing the same thing over and over and over again.

Until it become a boring process.
Yes Money Duck,
Thanks for the post,
but a pip target does not help much if that target is not related to a system (a trading strategy). I never think of the number of pips I must get; I think of how many pips my system can get, if that number is OK with me, I go for it.
  • #29
  • Mar 11, 2006 2:10pm Mar 11, 2006 2:10pm
Quoting forexemperor
Yes Money Duck,
Thanks for the post,
but a pip target does not help much if that target is not related to a system (a trading strategy). I never think of the number of pips I must get; I think of how many pips my system can get, if that number is OK with me, I go for it.
Well I think his ideea wat to win a pip based on system. Do it so good that you think it's too easy... grow from 1 pip
Try hard, think fast, die young
  • #30
  • Last Post: Mar 12, 2006 8:24pm Mar 12, 2006 8:24pm
Quoting dof
Well I think his ideea wat to win a pip based on system. Do it so good that you think it's too easy... grow from 1 pip
Exactly.....doesn't really matter what system you use.

Key is to focus on pips per day or trades per day...........however you look at it.

Do it successfully once per day or focus on PIPS per day.....then build from there.

I have seen too many beginners get frustrated and then start the LOTTO TRADES. And they wipe out their accounts.
- SAFE TRADING MONEY DUCK
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