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Small Pip Target

  • #1
  • First Post: May 29, 2016 10:34pm May 29, 2016 10:34pm
Anyone can contribute with their system, method, strategies, - I think sometime we target to of bigger tp -- I think by targeting 1 pip will be more successful

Goal

Every time (buy or sell) whatever system we use should give minimum 1 pip profit
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #2
  • May 30, 2016 1:38pm May 30, 2016 1:38pm
That's probably too small of a target, since the spreads on most brokers will be far larger than that. Also I'm not sure what you would set SL too then? If you can find a broker that will offer spreads lower than 0.4 pips on the very volatile currency pairs, like EURNZD and GBPAUD, you might be able to hit that 1 pip target 95% of the time, but I think that the 5% losses are likely to wipe your profits off the table.
Better to run, than curse the road
  • #3
  • May 30, 2016 3:18pm May 30, 2016 3:18pm
pip target does not make an edge. steve2010 has a good point there. its hard to fight on lower scales when even your transaction cost is equal/larger that what youre trying to get.
  • #4
  • Edited May 31, 2016 4:29am May 30, 2016 10:22pm | Edited May 31, 2016 4:29am
I am looking at Eur/USD - spread is almost zero with pepperstone

Also How about increase lot size - 3 lots times 1 pip etc ( this is not the problem )

We trying to find a system that will give us 1 pips tp most of the time like 80% or more

I have suppertrend on renko example --

I like this idea
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #5
  • May 30, 2016 10:58pm May 30, 2016 10:58pm
Are you basically trying to scalp for minimum 1 pip profit? Another broker to consider is Interactive Brokers, which gives good spreads as well. You can probably achieve your target during active trading times provided you wait and watch the market carefully. If you do get in on the wrong side, you still might be able to reposition and eke out a gain. Best only during Euro/London sessions and when news events aren't in play. As someone else pointed out, it may be easier to achieve the gain on a really volatile pair like EUR/NZD or EUR/AUD. You might also consider looking at after-hours such as after 4 pm EST to about 6/7 pm EST - end of NY to very early Asian session. These periods, more often than other periods in my observation, seem to have relatively "easy to spot" market manipulation of prices especially with AUD and NZD - quick, sudden moves up or down, which self-correct relatively quickly.
Enter Signature
  • #6
  • May 31, 2016 1:36am May 31, 2016 1:36am
I like small pip target as it allows me to also keep my sl small.
@GJscalper I've turned a new leaf. No more trolling.
  • #7
  • May 31, 2016 2:49am May 31, 2016 2:49am
Quoting zamanib
I am looking at Eur/USD - spread is almost zero with pepperstone Also How about increase lot size - 3 lots times 1 pip etc ( this is not the problem ) We trying to find a system that will give us 1 pips tp most of the time like 80% or more I have suppertrend on renko example -- I like this idea {image} {image}
oh we have renko supertrend and a spreadsheet from 0-infinity. ok I give up, didn't know the problem is so big.
  • #8
  • May 31, 2016 4:14am May 31, 2016 4:14am
Quoting feline207
{quote} oh we have renko supertrend and a spreadsheet from 0-infinity. ok I give up, didn't know the problem is so big.
Are you ok
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #9
  • May 31, 2016 4:36am May 31, 2016 4:36am
renko and supertrend looks good.

may any friend share that indicator?

thanks,
  • #10
  • May 31, 2016 4:52am May 31, 2016 4:52am
Quoting zamanib
{quote} Are you ok
unfortunately
  • #11
  • May 31, 2016 7:37am May 31, 2016 7:37am
Sounds exhausting for such a small meal.
There's always money in the banana stand.
  • #12
  • May 31, 2016 8:10am May 31, 2016 8:10am
Hi,

What will be the stop loss tolerance in this case for a 1 pip TP?

There will be a need to look at the expectancy in this case - Will a large stop loss erode profitability in the long run?
  • #13
  • Edited 8:52pm May 31, 2016 8:32pm | Edited 8:52pm
Guys - I guess no one focus on the system

Let say 1 pip tp 3 pips sl -- is this better

Let see what system can achieve this -- small goal 4 to 8 pips profit a day consistanly -- sound easy and simple ?
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #14
  • Jun 1, 2016 4:40am Jun 1, 2016 4:40am
I am currently testing such a strategy. I have 3 different entry conditions running on 28 pairs (8 currencies) and the aim is to get 1.5 pips ...

I am running without a SL on a live account and closes between 1000 to 1500 orders in a day (it could do more). The DD is rarely > 100/200 pips ... except when there is a big change. Therefore, I started to hedge orders with DD > 70/100 pips in the hope that I will figure out later how to create a recovery algorithm.

I adjust the TP if the DD start to increase (like > 20 pips) meaning that the entry condition was not good. The aim is to accurate the order entry condition ... currently most of the closed orders have < 5/10pips DD .... I will look to make some stats soon..

I am now facing the 200 max open order limitation from the broker ...
  • #15
  • Jun 1, 2016 2:18pm Jun 1, 2016 2:18pm
Quoting Neptun
I am currently testing such a strategy. I have 3 different entry conditions running on 28 pairs (8 currencies) and the aim is to get 1.5 pips ... I am running without a SL on a live account and closes between 1000 to 1500 orders in a day (it could do more). The DD is rarely > 100/200 pips ... except when there is a big change. Therefore, I started to hedge orders with DD > 70/100 pips in the hope that I will figure out later how to create a recovery algorithm. I adjust the TP if the DD start to increase (like > 20 pips) meaning that the entry condition...
Nice-- continue -- I will try pairs with less spread -- Euro/usd for sure - may be 5 pair

The idea to hit 1 pips 85-95% all the time.

Sometime what I do I wait for 1 fail or t fail then get in the next trade -- right now I see maximum consecutive loss is 3 -- 3x3pips sl= 9 --( I see like 10-20 consecutive wins)
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #16
  • Last Post: Jun 7, 2016 3:54am Jun 7, 2016 3:54am
Quoting zamanib
Guys - I guess no one focus on the system Let say 1 pip tp 3 pips sl -- is this better Let see what system can achieve this -- small goal 4 to 8 pips profit a day consistanly -- sound easy and simple ? {image}
Hi zamanib. I would like to know this Renko indicators.
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