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I need to trade 200 lots to reach bonus

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  • #1
  • First Post: Jun 20, 2012 11:10am Jun 20, 2012 11:10am
Hi, please, how can I reach 200 lots with very few risk? Hedge? I have 0.3 pip spread BUT I have 10USD/lot commission (so equal 1 pip). So each trade need to be winner 1 pip. Thanks
  • #2
  • Jun 20, 2012 12:33pm Jun 20, 2012 12:33pm
Quoting fgenez

I need to trade 200 lots to reach bonus

Hi, please, how can I reach 200 lots with very few risk? Hedge? I have 0.3 pip spread BUT I have 10USD/lot commission (so equal 1 pip). So each trade need to be winner 1 pip. Thanks
You're trading just for rebate/bonus, seriously!?!?!
  • #3
  • Jun 20, 2012 12:35pm Jun 20, 2012 12:35pm
Yes, bonus is 100%, it's hudge. I had 800 lots to do, I did about 500. Dont worry I have 3 pips stop loss. But still need to do lots..
  • #4
  • Jun 20, 2012 12:45pm Jun 20, 2012 12:45pm
Quoting fgenez

Yes, bonus is 100%, it's hudge. I had 800 lots to do, I did about 500. Dont worry I have 3 pips stop loss. But still need to do lots..
Is it your money, or are you just churning the shit out of some poor investors account?
  • #5
  • Jun 20, 2012 12:54pm Jun 20, 2012 12:54pm
I dont understand? Yes this is my money.
I had about 800 lots to do in 3 months. I did about 500. 300 missing.
  • #6
  • Jun 20, 2012 1:51pm Jun 20, 2012 1:51pm
sorry, but WTF ?
Twitter: @forexpokerpro
  • #7
  • Jun 20, 2012 5:31pm Jun 20, 2012 5:31pm
Quoting BBPI_fxtrader

sorry, but WTF ?
lol, I was thinking the same thing! At first I thought maybe he was churning some poor suckers account but it seems like it's his own money (although he doesn't mention how much that is). 800 lots in 3 months isn't that much in the scheme of things but doing it just to get rebate, with a 3 pip stop, seems a little crazy to me.

I realise he's asking for a strategy with 'very few risk' but maybe fgenez could just take us through the numbers and what he's thinking of doing in a bit more detail?
  • #8
  • Jun 20, 2012 6:10pm Jun 20, 2012 6:10pm
This has to be the funniest thread I have come across, a trader trading for the bonus pip..smh
  • #9
  • Jun 20, 2012 10:19pm Jun 20, 2012 10:19pm
Account size is 10000USD but I lost about 4000USD already due to martingal EAs, so now I'm 6000USD

Bonus to get is 5000USD

I dont understand why you are laughing at me.

Imagine you deposit 5000USD. If you trade 800 lots over 90 days, you get 100% bonus so 5000USD. That's 100% in 90 days, isn't it good?

In bonus conditions, you also have NOT to go below 1000USD or they wont give you bonus.

So even if you loose 4000USD, and make 800 lots, you'll have at the end a balance of 6000USD... And if you dont win, dont loose, you'll have 10000...

I let you laugh at me if you want, you know sometime bonus hunting is very profitable. A lot of poker players live only from rebate, ect...

Bye, still waiting if someone has any information to help me.
  • #10
  • Jun 20, 2012 11:04pm Jun 20, 2012 11:04pm
Quoting pipmutt
Is it your money, or are you just churning the shit out of some poor investors account?
It's not churning if you can consistently make at least 1 or 2 pips on a "rebate scalp"

It's churning if you know there is not a good chance of making a profit and you just try and make the spread back. If you think before making the trade, that 5 pips can't be made off of the scalp, IMO I will consider it a churn.

Although if you consistently are making +1 or 2 pips on your churn trades than your clients are not going to care, believe me.

They will only start caring once they see tons of mini scalps that are losers.
An opportunity lost is not a capital cost.
  • #11
  • Jun 20, 2012 11:10pm Jun 20, 2012 11:10pm
To the OP, in short, it's not worth it to attempt to make trades where you only get the spread back, in order to get the bonus. You will make much more off of a 5 pip scalp gain than you would off of the bonus of 10 break even scalps + rebate.

I get 0.5 pips rebate (a cut of the house profit from the spread) for every trade I make on E/U and I still will not make a "rebate scalp" unless there is a good chance that I will make at least +5 pips on the trade as well.
An opportunity lost is not a capital cost.
  • #12
  • Jun 20, 2012 11:11pm Jun 20, 2012 11:11pm
wow trading for bonus..
I think you are very rich right now..
  • #13
  • Jun 21, 2012 1:39am Jun 21, 2012 1:39am
Quoting fgenez

I have 3 pips stop loss

Imagine you deposit 5000USD. If you trade 800 lots over 90 days, you get 100% bonus so 5000USD. That's 100% in 90 days, isn't it good?

So even if you loose 4000USD, and make 800 lots, you'll have at the end a balance of 6000USD... And if you dont win, dont loose, you'll have 10000
I don't get it.

Where does the 5k bonus figure come from, is that the maximum commission they offer, or is it calculated on your account size, or?

Going on your 5k bonus figure for trading 800 lots and your 3 pip stop, on each lot traded you seem to be risking $30, paying $13 spread and commission, to make $6.25 rebate/bonus? That's not allowing anything for slippage or the risk of not hitting the 800 lot target. Am I missing something here?

Rebates and bonuses are great, and are just that, I'm not sure they're a money-making strategy though are they?

By the way what do you get back if you only trade 500 lots in that 3 month period, nothing?
  • #14
  • Jun 21, 2012 1:50am Jun 21, 2012 1:50am
Quoting BFSGcapital

It's not churning if you can consistently make at least 1 or 2 pips on a "rebate scalp"

It's churning if you know there is not a good chance of making a profit and you just try and make the spread back.
This guy seems to be trading just for the rebate/commission though.

I can't see how the numbers add up though, on 800 lots he's paying 10,400 spread and commission and getting back 5k
  • #15
  • Jun 21, 2012 1:56am Jun 21, 2012 1:56am
a lot of just new "brokers" popup and offers bonuses like on the pokersites...

easy way to attract "traders"

probaly some like :

www.getridofyourmoneyFX.com
www.trustusFX.com
www.wearesoongonewithallyourmoneyFX.com


StopLoss is for none belivers... Trust the Gurus..
  • #16
  • Jun 21, 2012 2:17am Jun 21, 2012 2:17am
Quoting fgenez
I let you laugh at me if you want, you know sometime bonus hunting is very profitable. A lot of poker players live only from rebate, ect...
yes, because they are breakeven players, and that is the only way they can make money. Basically they suck. "Rakeback grinders" & all that. Breakeven/losing players who don't put in the time to actually study and learn...same as trading...
Twitter: @forexpokerpro
  • #17
  • Jun 21, 2012 2:50am Jun 21, 2012 2:50am
@pipmutt , yes, if I dont trade the 800 lots, even 799, I get nothing.
Thanks all for your replies.
  • #18
  • Jun 21, 2012 11:21am Jun 21, 2012 11:21am
Quoting fgenez
@pipmutt , yes, if I dont trade the 800 lots, even 799, I get nothing.
Thanks all for your replies.
Which broker are you trading with, may I ask?
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #19
  • Jun 21, 2012 11:22am Jun 21, 2012 11:22am
I have a special offer from Pepperstone ECN.
  • #20
  • Jun 21, 2012 5:22pm Jun 21, 2012 5:22pm
Bonus hunting, as the term suggests, sounds good but in reality it is anything but part of a "bait and switch" strategy. Don't take this the wrong way, its not that we are laughing at you but we are just puzzled as to why someone would trade pips so they could get in some bonus..
Wouldn't it make more sense for you to learn more about the market and trade for yourself rather than depend on the bonus feature..
Just sayin'
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