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18 Pips per Day (3% per week) Trading System

  • #21
  • May 10, 2014 7:09am May 10, 2014 7:09am
ok i'm going to try and be open minded about this, can you elaborate a bit more on what your trying to do because it's pretty unclear now, so untill you clear everything up (with examples) about what you mean and show us some proof or at least theorie on how this might work the sceptisism won't go away..

from what i understand you could try and do 2 things: figure out what the ideal trade time is for any particular system or figure out after how many loss trades the statistics of getting a winning trade are in your favor

now i can completely misunderstand what your trying to teach and if so please correct me
  • #22
  • May 10, 2014 9:19am May 10, 2014 9:19am
Quoting nevie2
ok i'm going to try and be open minded about this, can you elaborate a bit more on what your trying to do because it's pretty unclear now, so untill you clear everything up (with examples) about what you mean and show us some proof or at least theorie on how this might work the sceptisism won't go away.. from what i understand you could try and do 2 things: figure out what the ideal trade time is for any particular system or figure out after how many loss trades the statistics of getting a winning trade are in your favor now i can completely misunderstand...
1st pick a system , 2nd pick a time frame and then gather statistics on the performance of that system.
Record the number of times you win and the number of times you lose.Those stats will help you know when to get a trade that will give you at least 18 pips.
e.g
If you win 5 times in a row on a system , then lose 3 times in a row on average , then when the loss is around 3rd time , you have a clear idea that in the next couple of trades , I am likely to win , depending on the pair if the next move comes , you have to take it but only target 1% profit with 1% risk
I am sure you will get this once you start doing it .
  • #23
  • May 10, 2014 8:38pm May 10, 2014 8:38pm
I dont know what kind of trading experience you have, but do you realize how hard it is to get 18 pips daily from market on consistent basis?

I can get 500 pips from market randomly but getting 2 pips daily on consistent basis is really hard.

so dont joke to your self to get 18 pips daily.
All human being are Children of GOD - Thanking GOD for everything.
  • #24
  • May 11, 2014 12:39am May 11, 2014 12:39am
Quoting HedgeManager
I dont know what kind of trading experience you have, but do you realize how hard it is to get 18 pips daily from market on consistent basis? I can get 500 pips from market randomly but getting 2 pips daily on consistent basis is really hard. so dont joke to your self to get 18 pips daily.
18 pips per day is what I came to realize is the most likely pips you can have on average.Anything more than this will be difficult .I am saying on average , meaning that you can't have a fixed number .You can have 5 today , 10 tomorrow , 3 the next day and 54 the next and nothing the final day .This tally will take you to 18 pips per day average for that week .
This will ONLY work if you make sure your risk is always 1% or less , whatever happens .The risk has to be 1% or below as a MUST.
  • #25
  • May 11, 2014 2:04am May 11, 2014 2:04am
I was thinking at a similar trading system, but with 10 pip/day > 50 pip/week > 200 pip/month < get around these numbers at each final day/week/month. You can make 50 pip Monday and for the rest of the week you're done.
With $300, 1:50 leverage and reinvesting the profit for 6 months - you can get somewhere ...

Still, this is something that we can't call a trading system, maybe just a little strategy that can make you more disciplined and choose more wisely which trades to make.
  • #26
  • May 11, 2014 2:11am May 11, 2014 2:11am
Quoting tafadzwa02
{quote} 18 pips per day is what I came to realize is the most likely pips you can have on average.Anything more than this will be difficult .I am saying on average , meaning that you can't have a fixed number .You can have 5 today , 10 tomorrow , 3 the next day and 54 the next and nothing the final day .This tally will take you to 18 pips per day average for that week . This will ONLY work if you make sure your risk is always 1% or less , whatever happens .The risk has to be 1% or below as a MUST.
All human being are Children of GOD - Thanking GOD for everything.
  • #27
  • May 12, 2014 6:56am May 12, 2014 6:56am
One of the reasons I came up with 18 pips per day is because of the market behavior .
Depending on the pair you trade , its rare for the market to move in a trend for more than 60 pips in a day ( for the big movers like GBPJPY), when I say 60 pips I honestly mean 60 pips , unless of course you stay all day and night on the PC tracking the market.
You might be asking yourself what I mean
OK , let me explain a little bit
For those in UK like me
When you wake up at 07:00 the market would have moved a bit (the market opens and closes at 22:00 GMT)
Generally , the market moves a little bit in the opposite direction and goes a bit further in the direction it will finish the day , e.g if the market on the day is going to be bearish on the daily , it will move up a little , then it will fall for the rest of the day
Now taking the above point , if it has already moved down 30 pips from the open price by the time it's 07:00 , chances are it will range a bit and then fall a further 30 and then closes up a little bit higher than the low of the day
When you look at the candlestick , it will show a move of 60 points , from open and close but in effect what was available to you if you were trading in UK was only 30 pips since the other ones had already moved by the time you woke up

Simple maths tells you that its hard to get a lot from this market that's why I came up with this 18 pips.There is a lot of calculations involved ( spread , slippages etc) , but if you are an experienced trader you will understand what I mean
  • #28
  • May 13, 2014 4:53am May 13, 2014 4:53am
How on earth do you make money in a market that moves less than 30pips in a day for 15 days of the month ?
The other 5 days it moves more but with candlesticks that don't have any meaning .This forex trading is really a painful business , its very difficult to make money in this , trust me guys .Don't be fooled by those that tell you all the crap about 1000 pips per month bla bla bla , its all bull
  • #29
  • May 13, 2014 5:33am May 13, 2014 5:33am
Typical - Look at today's EURJPY high and the price I was stopped out .It's a joke this stuff
  • #30
  • May 15, 2014 12:23pm May 15, 2014 12:23pm
It's early but looking better than your other system.
  • #31
  • May 15, 2014 1:08pm May 15, 2014 1:08pm
maybe your are n't looking at it in the correct way
18pips a day etc could be made from one much more predictable and easier trade for the wk
you'll find a 100-200 pip move for nr all instruments usually at least once a wk (up or down)

i also live in the UK, but don't get up at 7am lol, not often anyway, i mostly trade the Daily charts at/from 12am,
if you want easier trades and more pips you ll need to trade a larger TF
  • #32
  • May 16, 2014 3:57am May 16, 2014 3:57am
Quoting Carlsberg
maybe your are n't looking at it in the correct way 18pips a day etc could be made from one much more predictable and easier trade for the wk you'll find a 100-200 pip move for nr all instruments usually at least once a wk (up or down) i also live in the UK, but don't get up at 7am lol, not often anyway, i mostly trade the Daily charts at/from 12am, if you want easier trades and more pips you ll need to trade a larger TF
That's why I am testing something on 4h and 1d frames, wider s/l, less expectations, we'll see how it goes. Haven't been trading for 2 months due to relocation, will re-start soon, we'll see how it goes
BTW I wake up at 5:45 ;-)
On my way to financial independence - if others can do it - I can do it
  • #33
  • May 16, 2014 7:48am May 16, 2014 7:48am
Quoting Carlsberg
maybe your are n't looking at it in the correct way 18pips a day etc could be made from one much more predictable and easier trade for the wk you'll find a 100-200 pip move for nr all instruments usually at least once a wk (up or down) i also live in the UK, but don't get up at 7am lol, not often anyway, i mostly trade the Daily charts at/from 12am, if you want easier trades and more pips you ll need to trade a larger TF
what planet are you living on mate , I have been forced to attach a file that shows you that on AUDUSD , the MAXIMUM is has done more than 100 pips from open to close on the daily = 04/02/2014.Since the 4th of April , it has only moved a MAXIMUM of 90 pips .
These are the kind of stats that you need if you are to understand that , there are no 100-200 pips move available in this business , they only happen on VERY few occasions.
The other thing is , it doesn't even mean that on the day it moved over 100pips , you had been given a signal that it would move , sometimes int happens at 02:00 and you will be asleep .Lets get real guys .You cant easily get 30 pips per day in this market consistently
Attached File(s)
File Type: xls AUD-USD_DAILY.xls   218 KB | 348 downloads
  • #34
  • May 16, 2014 10:58am May 16, 2014 10:58am
Quoting tafadzwa02
{quote} what planet are you living on mate , I have been forced to attach a file that shows you that on AUDUSD , the MAXIMUM is has done more than 100 pips from open to close on the daily = 04/02/2014.Since the 4th of April , it has only moved a MAXIMUM of 90 pips . These are the kind of stats that you need if you are to understand that , there are no 100-200 pips move available in this business , they only happen on VERY few occasions. The other thing is , it doesn't even mean that on the day it moved over 100pips , you had been given a signal...
really.. what planet are you on?
i did n't say per day, i said wk, most moves are over 1-3+ days, it depends on the news and upcoming news
and no need to be pedantic anyhow

i'll give you some examples, being as you can nt read posts correctly
Euro 100pips+ this wk
GBP 100pips+ this wk
Crude Oil 100+ this wk
Dow 100pips+ this wk
these are usually one combined move and easy to spot if you know how
sometimes they do it twice, but once is enough over a few instruments

i cant be arsed to check the Aussie - but presumably its also moved over 100+ pips this wk
they all do
how do you think the banks make there money.. scalping all day long, that's not how they trade

learn to read and count better.. it may help
  • #35
  • May 16, 2014 11:54am May 16, 2014 11:54am
Quoting Carlsberg
{quote} really.. what planet are you on? i did n't say per day, i said wk, most moves are over 1-3+ days, it depends on the news and upcoming news and no need to be pedantic anyhow i'll give you some examples, being as you can nt read posts correctly Euro 100pips+ this wk GBP 100pips+ this wk Crude Oil 100+ this wk Dow 100pips+ this wk these are usually one combined move and easy to spot if you know how sometimes they do it twice, but once is enough over a few instruments i cant be arsed to check the Aussie - but presumably its also moved over 100+...
you just reminded me to pop in for few lagers on a way back home ;-)
On my way to financial independence - if others can do it - I can do it
  • #36
  • May 18, 2014 5:19am May 18, 2014 5:19am
Please find attached my performance from last week .I generally did well , but ended up losing 19 pips.I am not really disappointed .

HAPPY TRADING

Attached File(s)
File Type: xls (3% Per Week System ) Week Commencing 18-05-2014.xls   116 KB | 373 downloads
  • #37
  • May 20, 2014 3:40am May 20, 2014 3:40am
I have come to a point where I don't really care about a lot of things , the market is a place where you go , for a very very short period of time , and get money and move on until the next day /time.

People must come to the realization that Bankers themselves only target some thing like 10 pips in a day , and if this is the case , who am I to target more than that , who am I to stay in the market for long hours .These Bankers have come to this on the realization that the market is a place where you go , for a very very short period of time , and get money and move on until the next day /time.

This is my new approach moving forward.
  • #38
  • May 20, 2014 9:06am May 20, 2014 9:06am
  • #39
  • May 21, 2014 4:15am May 21, 2014 4:15am
A bit of advice to my buddies , subscribers and anyone interested .I am sure you have seen my history and how I am trading these days .I am getting more wins simply because I am now VERY afraid of the market .When you get a little , take it.The Market is not meant to give you money , its not your friend , you are not here to test some strategy , but to make money.
When your strategy is tested on the demo , the idea is to make sure that the strategy is very good at entries , which is what I noticed on mine.
When the entries are good , then you get to a point where you get at least 0.05% profit in your trades .when that happens , trust me , its best to take the money and try again .This advice works if you know that your entries are good , otherwise , it won't work

Just a piece of advice from someone who has been battered by the market

  • #40
  • May 21, 2014 4:51am May 21, 2014 4:51am
Quoting tafadzwa02
When you get a little , take it.............where you get at least 0.05% profit in your trades .when that happens , trust me , its best to take the money and try again .
"Little" isn't a valid reason to close a trade. Remember that in trading there's also the loss part ... and even with a high win rate, if your RR isn't reasonable, your "little" won't be enough.
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