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noob's way of trading

  • #1
  • First Post: Aug 9, 2013 12:27pm Aug 9, 2013 12:27pm
hi guys , im not new here maybe it says so on my username date bt been around for almost 3 yrs now


why i consider my self a NOOB ? very simple , i have not opened a live account yet , been forward/back testing few systems bt anyway my question is very simple


and plz this is for experienced traders only

is gaining 20 pips/day hard to maintain , i mean with this u can move your lot size and number of lots for example

1 standard lot at 20 pips/day = $200/day = $50k/year
2 standard lots 20 pips/day = $400/day =$100k/year
3 standard lots 20 pips/day = $600/day = $150k/year
5 standard lots 20 pips/day = $1000/day =$250k/year
10 standard lots 20 pips/day = $2000/day = $500k/year


so technically speaking yes most will say dat few hicupps will blow out da account bt how abt u looking for a strong momentum move only , and you can start wid 1 unit if you want n then gradually increase , bt is really impossible to maintain



i hope you guys got my question , im not looking for get rich trading bt why not its just 20 pips and lets say on 4H chart , and you move your stop to BE asap



any thoughts
  • #2
  • Aug 9, 2013 1:11pm Aug 9, 2013 1:11pm
btw guys if possible read this thread and hanover's comments

http://www.forexfactory.com/showthread.php?t=295080
  • #3
  • Aug 9, 2013 3:46pm Aug 9, 2013 3:46pm
Wow, some real gems in those threads/post Hanover posted. Read all.. well James16 is 6k pages but w/e. If you want somewhat experience traders to post, you can put a vouch limit on the thread.

I get your math and it makes perfect sense bc I asked the same exact question before trading live.. but our mindset for trading is incorrect. Right off the bat, you're putting a fixed pip value on potential profit on multiple markets at multiple times. Make as many pips as possible. From TheRealThing:
Quote
All of the professional traders I know, whether they trade forex or futures markets, do not make "so much per day". That is a phrase used by marketers, because they know what beginners are looking for, and that is a steady income so they can get rid of their jobs. Money from the market that you can count on does not come steady or nicely "so much per day". Real traders make profits, budget their expenses, save some profits, add some profits to their accounts for further building of the account, etc. Just like any business, which is what real...

I know you're looking for answers to solve the market, don't waste any more time in doing so. Open a small live account, fixed lot size and make positive pips. If you're consistent, start increasing lot size.
  • #4
  • Aug 9, 2013 7:37pm Aug 9, 2013 7:37pm
Quoting EmeraldEyes
I know you're looking for answers to solve the market, don't waste any more time in doing so. Open a small live account, fixed lot size and make positive pips. If you're consistent, start increasing lot size.

well im trying to be consistent so i tried using only one pair EUR/USD bt this pair has times dat it makes u hate anything abt it ... i mean really makes u mad

so i moved to higher TFs and a basket of 10 pairs so what im trying to do is back/forward test them so i can knw how much drawdowns to expect , anyway will start wid 100$ using oanda

thanks emeraldeyes
  • #5
  • Last Post: Aug 9, 2013 8:17pm Aug 9, 2013 8:17pm
Good luck! The odds of success are very heavily against retail Forex traders.

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