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  • #41
  • Dec 9, 2011 12:54pm Dec 9, 2011 12:54pm
being a trend trader i have around 35% win rate and 1:2.5 risk reward.tried the high win high risk strategies and failed miserably yet i know a trader whose making it big with the same strategy..man do i envy him.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #42
  • Dec 9, 2011 1:28pm Dec 9, 2011 1:28pm
Quoting Forexnuts
I guess it's been a long day for me or I am a little bit more slow on the take than what's usual. Hope you can provide some clarifications on the - "If you want to win often chose lower risk to reward ratio and if you want to lose less chose higher risk to reward ratio."
Think the sentence has gone awry..
I meant to say, if you want to win more often but small amounts at a time ... and win less often but win bigger amounts at a time ...
  • #43
  • Dec 10, 2011 2:40pm Dec 10, 2011 2:40pm
Quoting CoolJL
I meant to say, if you want to win more often but small amounts at a time ... and win less often but win bigger amounts at a time ...
Do you think over time both ways would average out to be around the same? I think it'd be interesting to compare one trader who does the "more wins/smaller amounts" route to another trader who goes with the "less wins/bigger amounts" path and see who comes out better after 5 years or 10 years.
  • #44
  • Dec 11, 2011 1:46pm Dec 11, 2011 1:46pm
You're talking about risk ratio on trades. I mean if you restrict your risk to the safe zone and use small lots, yes - your winnings may seem small. But remember, you need to factor in the risk if you plan to win big. or make a lot of right calls on the small lots.
  • #45
  • Edited 3:59pm Dec 11, 2011 3:37pm | Edited 3:59pm
Quoting SameerFX
Do you think over time both ways would average out to be around the same? I think it'd be interesting to compare one trader who does the "more wins/smaller amounts" route to another trader who goes with the "less wins/bigger amounts" path and see who comes out better after 5 years or 10 years.
That would be interesting to know, I guess, it probably would average about the same but honestly I have no idea. I have not been in this business for too long, I personally do not go for big risk to reward ratio, I'll happily take 10pips, even less sometimes, and leave a little bit in the trade to see what happens. But I think a lot of the trader do this, take small initial pips and leave some in. But also traders who look for bigger risk to reward often take profits before the risk to reward is hit. In other words risk to reward ratio isn't abosulte must follow rule. But if you start trading bigger risk to reward ratio, you need to be more picky with your entries, so you do become better at choosing your entries.

I'm sure there are people who's been in this long enough to enlighten us about this.
  • #46
  • Dec 11, 2011 3:57pm Dec 11, 2011 3:57pm
Quoting Forexnuts
You're talking about risk ratio on trades. I mean if you restrict your risk to the safe zone and use small lots, yes - your winnings may seem small. But remember, you need to factor in the risk if you plan to win big. or make a lot of right calls on the small lots.
It really depends on what people find it easier, I guess, picking entries for occasional big wins or picking entries for lots of small wins.
  • #47
  • Dec 12, 2011 10:09am Dec 12, 2011 10:09am
the ten pips move, a very interesting thread, yeah the possibilities are almost limitless with just ten pips a day, though there are a number of factors you have to look out for. I guess for me, I have to stop being greedy and have more patients. when you've been reading and trying a lot of strategies, you tend to forget the basics, and this thread was refreshing. cheers
  • #48
  • Dec 12, 2011 2:03pm Dec 12, 2011 2:03pm
the adr of the main pairs is about 100 a day, including ups and downs..

80% of that is 80 a day

so u need to capture a small proportion of the up/down cycle
  • #49
  • Dec 13, 2011 5:43pm Dec 13, 2011 5:43pm
This is actually a nice thread, points out the discrepancies in trading, risk vs profits. I do wish we had more threads like this, that newbies can use as a edu- session 1..
  • #50
  • Dec 14, 2011 10:30am Dec 14, 2011 10:30am
Hello, I'd be keen to see the spreadsheet please, let me know if you are able to attach it or if I should inbox you my email. Many Thanks
  • #51
  • Dec 21, 2011 2:13pm Dec 21, 2011 2:13pm
Quoting CoolJL
That would be interesting to know, I guess, it probably would average about the same but honestly I have no idea. I have not been in this business for too long, I personally do not go for big risk to reward ratio, I'll happily take 10pips, even less sometimes, and leave a little bit in the trade to see what happens. But I think a lot of the trader do this, take small initial pips and leave some in. But also traders who look for bigger risk to reward often take profits before the risk to reward is hit. In other words risk to reward ratio isn't...
I wish some of them would, indeed. I guess it comes down to your approach and your personality as much as anything. I'm wired more for a "slow and steady wins the race" approach, but I admit I have to fight the urge to want to risk more at times just to turn a bigger profit -- and I am sure I am not the only one!
  • #52
  • Dec 24, 2011 3:46am Dec 24, 2011 3:46am
Quoting Halba
the adr of the main pairs is about 100 a day, including ups and downs..

80% of that is 80 a day

so u need to capture a small proportion of the up/down cycle

Very correct! That's one of the cornerstone principles of effective day trading - understanding that you don't need 100% of the session's absolute range, to be consistently profitable in Fx.
  • #53
  • Dec 24, 2011 1:30pm Dec 24, 2011 1:30pm
it good to have great system in trading, a few pips might even be great profit if consistent winning.
  • #54
  • Dec 28, 2011 10:15pm Dec 28, 2011 10:15pm
10 pip a day pretty simple but i think you'd be leaving to much on the table.

better to say i have a script or ea in place that says when price hits X SL is moved to ten pips there by locking in the ten + spread
then after another X of pips in my favor trailing stop is Y
Depending on how big Y is could mean locking in the 10 but getting 120 total.

Of course many times you lock in that 10 and thats all you get and sure as I'm breathing you realize the market took off and you were out at 10. That is the hard mind 4uck you deal with but hey... you only wanted 10 anyway.

standard lot is 100 bones - so if you've got a big account well your happy, now if your trading the four majors and getting 400 a day great but again the 10 pip rule is limiting potential great gains.
  • #55
  • Dec 29, 2011 3:47am Dec 29, 2011 3:47am
10 pips a day keeps the doctor away.
  • #56
  • Dec 29, 2011 4:10am Dec 29, 2011 4:10am
Quoting ProdiG
i was bored the other day and was curious that if someone can get rich earning 10 pips at a time. i usually trade the asian session so i don't really get the 100 pip moves. i was curious if i started $1000 how much would i have using a strategy that could get me 10 pips a day. i was shocked when i finished this spreadsheet. im not sure how to attach files and also not sure if i can attach an excel file but let me know if you want to see it.
so can 1 pip.
  • #57
  • Dec 29, 2011 7:32pm Dec 29, 2011 7:32pm
Quoting Isabel
Hello, I'd be keen to see the spreadsheet please, let me know if you are able to attach it or if I should inbox you my email. Many Thanks

he never posted said spread sheet
  • #58
  • Dec 29, 2011 8:46pm Dec 29, 2011 8:46pm
for get 10 pips a day strategy is "flip a coin" then buy or sell TP 10 pips when "Sydney Open"

before Tokyo close it will hit in TP, anyone have past data?
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  • #59
  • Edited 9:00pm Dec 30, 2011 8:57pm | Edited 9:00pm
Quoting leandar_
for get 10 pips a day strategy is "flip a coin" then buy or sell TP 10 pips when "Sydney Open"

before Tokyo close it will hit in TP, anyone have past data?
Well why even pick a side then sheeze?

Just go long and short at the same time on new day bar? (look for rapidfire script) the market moves up and down 1000 pips in a 24 hour period most days. yes yes draw down, just don't use a stop, it will hit 10 up then 10 down I guarantee it.. try it in demo next week say...gbpusd pair but remember AT NEW DAY BAR OPENING.

If your using USA broker go 50 pip long oco or short oco from open price the 50 pip is your buffer that says "im going the right direction for my 10 pips".. maybe 30 pip buffer from opening is better. This stupid straggety works.


please note there was one loser candle in the whole month of DEC so you need a mental or emergency stop. can you find the one loser?
why flip a coin?
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  • #60
  • Jan 21, 2012 1:06am Jan 21, 2012 1:06am
Quoting Eggo
With no SL, one day you will be kick out.
well yes maybe a little common sense like don't trade non farm payroll or other bad news days of course
but
where would you be knocked out if your trying for 10 pips I don't think this is a right way to trade but look at my chart. (I was making a joke about why pick a direction) but all kidding aside if you did an OCO order (usa guys) or just opened at market new day buy and sell both would hit 10 pips profit everyday. Someday the draw down would suck yes but if you had balls of steel it would work. Look at your D1 charts show me a loser, you won't find many on gbpusd. Again I'm not saying try this but use your own eyes.. the rapidfire script was wrote for this simple idea.
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