Who here can average just 30pips a week trading the FX?

[the hare]

Maybe it is not achievable cuz u just trade one pair ....

I suppose that 2000 pips from one pair or 40,000 pips from 20 pairs isn't really going to make much difference to the bottom line at the end if the year, assuming no compounding.

But assuming you have a positive expectancy, IIRC the diversification is going to improve the probability of ending more of the months in profit, and that's something that's often overlooked.



.

 

[tar]

I suppose that 2000 pips from one pair or 40,000 pips from 20 pairs isn't really going to make much difference to the bottom line at the end if the year, assuming no compounding.

But assuming you have a positive expectancy, IIRC the diversification is going to improve the probability of ending more of the months in profit, and that's something that's often overlooked.



.

If you trade multiple pairs you will definitely have better results unless you are a pure scalper , first diversification will help , more setups , more opportunities , better psychology ( no chasing/no frustration if you missed an opportunity on the EUR cuz you will be busy taking advantage of other opportunities in other pairs ) , assuming you know what you are doing ofcourse . To master a certain contract or pair is totally overrated and it will hunt you in your dreams it is like having a bull fight against the algos and other traders :cheesy:

 

[15 min tlb]

I suppose that 2000 pips from one pair or 40,000 pips from 20 pairs isn't really going to make much difference to the bottom line at the end if the year, assuming no compounding.

But assuming you have a positive expectancy, IIRC the diversification is going to improve the probability of ending more of the months in profit, and that's something that's often overlooked.



.

Lulz

They generally move simultaneously most of the time , if you have 20 twenty women few seconds on each is appropriate.

 

[WR1]

If you trade multiple pairs you will definitely have better results unless you are a pure scalper , first diversification will help , more setups , more opportunities , better psychology ( no chasing/no frustration if you missed an opportunity on the EUR cuz you will be busy taking advantage of other opportunities in other pairs ) , assuming you know what you are doing ofcourse . To master a certain contract or pair is totally overrated and it will hunt you in your dreams it is like having a bull fight against the algos and other traders :cheesy:

no harm in trying to master one or two pairs - sure it takes some time, but what worth while venture does nt and seeing as the Algos are very similarly programmed, applys to many markets

it does nt take long if you have the correct tools to see the Algos are programmed to do the same thing over and over again
actually makes life alot easier in the end, then just wait for the systems signals

have to say though some of the very simple systems - ie 3 ducks also seem to work just aswell, and with very little previous knowledge or commitment to testing
but will they see the big runs in advance ??

 

[tony2806]

I average 134 pips per week. On record I have made 3500 pips

Here is my record for the last 26 weeks

GET RESULTS | Online Forex Trading | FX Trading

I am under "tony2806-forex prophet"

In that 26 weeks I have made 102% return but dont have a large account of my own to trade...

 

[tar]

I average 134 pips per week. On record I have made 3500 pips

Here is my record for the last 26 weeks

GET RESULTS | Online Forex Trading | FX Trading

I am under "tony2806-forex prophet"

In that 26 weeks I have made 102% return but dont have a large account of my own to trade...

Your equity chart doesn't have a clear direction , anyway goodluck , but i have a question is there a decent followers/subscribers activity in this website ?

 

[wackypete2]

43% draw down on those results. System description does say allow for 30% draw down but it's 40% greater than that.

Peter

 

[tony2806]

Your equity chart doesn't have a clear direction , anyway goodluck , but i have a question is there a decent followers/subscribers activity in this website ?

Subscribers are not bad, Any money I make is a bonus. The risks I take here are a little high but I guess people who use these services what higher returns.

 

[wackypete2]

Subscribers are not bad, Any money I make is a bonus. The risks I take here are a little high but I guess people who use these services what higher returns.

That's the problem with those sites. Followers want ridiculous returns so providers have to take greater risks to accommodate or else you just don't get any subscribers. Many providers eventually blow up because of it. I'm not pointing at you specifically just in general. If you are making money from followers then good for you.


Sorry, I'm off topic. Apologies to the OP.

Peter

 

[#'s_game]

I agree it would be difficult to average 30 pips in the beginning. I have purchased trading systems and even had coach's over the years and they DID help but it only led me finding my own system in the end which in my opinion is the only way to go, a system that you have tried, tested and tweaked until if flawlessly executed it provides a 57%or better successes rate then it's fine tuning from there. A set of trading rules that deal specifically with your own mental weaknesses also a realistic plan/goals of where you would like your account at is a must and a trading record you can review to connect the dots between losses. Trading is an art form to me not a exact science or an algo you can purchase cheap for an easy road to riches Do I average better than 30 pips a week? I certainly do and I'm proud to say I earn a great living from trading. If its one piece of advice you take away from this post it is when you close that winning trade take 50% of your profit and fire into your savings account, it certainly smoothed the road for me.

 

[malaguti]

I agree it would be difficult to average 30 pips in the beginning. I have purchased trading systems and even had coach's over the years and they DID help but it only led me finding my own system in the end which in my opinion is the only way to go, a system that you have tried, tested and tweaked until if flawlessly executed it provides a 57%or better successes rate then it's fine tuning from there. A set of trading rules that deal specifically with your own mental weaknesses also a realistic plan/goals of where you would like your account at is a must and a trading record you can review to connect the dots between losses. Trading is an art form to me not a exact science or an algo you can purchase cheap for an easy road to riches Do I average better than 30 pips a week? I certainly do and I'm proud to say I earn a great living from trading. If its one piece of advice you take away from this post it is when you close that winning trade take 50% of your profit and fire into your savings account, it certainly smoothed the road for me.

agree and amen to that

 

[Pferd]

My two cents....

It is certainly possible, in fact in the last week EURJPY I think can give you 30 pips an hour......last week alone it move between 117 and 122 app. Lots of 30 pips within that range.....

Seriously speaking, I think this is an oversimplistic question. What does it mean 30 pips? What does it mean become a millonaire? Everything is relative for every person.

To make a living from 30 pips a week average, you need a very big trading account. If you have let's say one million sitting in your trading account, how much do you have in your normal account? How much do you make/earn a year outside trading?

If I would be in that situation, I would handle my "trading" million to a hedge fun guy who is normally better prepared than me, has better resources and very likely will achieve a better result than me. Even if he/she makes a loss, I will have my whole year free to continue working on my job/business and making more millions.

The point I am trying to make here, is that without any disrespect to the starter of this thread, that question does not mean anything. I can make 30 pips a week with a 1000 GBP account size. But the real question in my point of view is: Is it worth the effort? Or can I use my time in something more productive?

Retail trading is very difficult and completely different to real trading. There are higher costs and less opportunities. For sure you can make 30 pips a week, pay for your holidays and even earn a living. But the real question is are there other opportunities for the retail trader to employ their time and money better than making 30 pips a week in Forex? If you can get a let's say 50000 GBP/year job without risks and putting your own money on the line, would you change it for making 50000 GBP a year trading?

Which brings me to the conclusion that a very high majority of retail traders have the same expectations as lottery players. Very few are serious about it and even fewer give their opinions away in forums.

 

[BeginnerJoe]

less opportunities.

Given that the market moves like eurjpy every few weeks, why would you consider it less opportunities ? Maybe you just don't know it when you are run over by opportunities.

There's a similar opportunity building up on usdchf. Yet after being told well in advance, you are still going to miss it. How can that be ?

 

[Pferd]

Given that the market moves like eurjpy every few weeks, why would you consider it less opportunities ? Maybe you just don't know it when you are run over by opportunities.

There's a similar opportunity building up on usdchf. Yet after being told well in advance, you are still going to miss it, how can that be ?

I mean in general terms, comparing retail trading/real tranding.

But I agree with your point, it has been an incredible start of 2013 for Forex traders. Long last the currencies war!!:clap:

 

[tar]

Given that the market moves like eurjpy every few weeks, why would you consider it less opportunities ? Maybe you just don't know it when you are run over by opportunities.

There's a similar opportunity building up on usdchf. Yet after being told well in advance, you are still going to miss it, how can that be ?

Most of us are looking for short term consistent income it is clear to me that yen crosses are long , and Gold is short but from where ? and how long i have to wait ? year , 2 ? what if after 18 months i discovered i am wrong ? it is boring , i prefer monthly consistent income 100 pips 200 , whatever it is , but if my account is really big i would put aside a good portion for long term investments and i will short this b@@@ called Gold :cheesy:

 

[BeginnerJoe]

Most of us are looking for short term consistent income it is clear to me that yen crosses are long , and Gold is short but from where ? and how long i have to wait ? year , 2 ? what if after 18 months i discovered i am wrong ? it is boring , i prefer monthly consistent income 100 pips 200 , whatever it is , but if my account is really big i would put aside a good portion for long term investments and i will short this b@@@ called Gold :cheesy:

The 1000 pip moves take only a few weeks at the most. Donno about gold, I don't have the balance in my account to play it. I don't look at things I can't play.

Edit:

I just had a look. It wouldn't too terrible to jump on to gold for a long term short now if you prepare yourself to sit out a potential pull back. Perhaps buy some now, and get the rest on pull back. But the pull back may never come until much lower down. This is where you earn the money - to have the fortitude to make the right decision. But the conventional pot shot style trading will not work. So people like the hare will have to stay out for something juicy like this.

 

[safvan]

Build a business.
Take money off it and distribute evenly

Buy good companies at bargain prices (stock market crashes) with preference given to dividend paying stocks. Never sell.

Keep buying good company shares ranging from $1 to $30 all your life at bargain prices. Eventually the price of those shares will settle at $10 to $15 at minimum and $100XX at maximum.

Result: It is called the Warren Buffet style to riches.

 

[tar]

The 1000 pip moves take only a few weeks at the most. Donno about gold, I don't have the balance in my account to play it. I don't look at things I can't play.

Usually it takes longer , and to really take advantage of such swings your target should be more than 1000 pips ...

 

[the hare]

Given that the market moves like eurjpy every few weeks, why would you consider it less opportunities ? Maybe you just don't know it when you are run over by opportunities.

Lets be realistic here. There are at least 2 kinds of opportunity being discussed here

Firstly there's opportunity to trade. An institutional trader employing a high frequency strategy, possibly looking at tens of thousands of instruments, with lower transaction costs is going to find trading opportunities that are not available to the retail trader sat in his bedroom with a €500 dell computer and a copy of MT4

Secondly, you have opportunity costs. There is a cost associated with what you might have been doing or earning whilst you where watching a screen. The vast majority of retail traders are not well capitalized. Practically anyone with half a brain could double 100k to 200k selling apples from a market stall within a year, and repeat that year in year. I guarantee, almost no one on the planet could achieve the same thing trading.

Most people have employee mentalities, and the opportunity costs for these people is staggeringly high. An extra 10 hours a week trying to improve their vocational skills would be a far better investment, a couple of hours unpaid overtime each day might actually get them noticed and enhance their career development opportunities. Spending an extra 10 hours a week setting up a part time business is likely to be a better investment,

That's the reality for the retail punter

 

[counter_violent]

re: "who here...."

I have been re-visiting some of this guys threads, and doing some number-crunching, and reckon if anyone can make 30 pips a week, he can.

counter_violent.

Can you elaborate:?: My threads, or posts in my threads, or posts in others threads or wot !

I really ought to do something worthwhile for the readers. However, 99% of them are unworthy of anything remotely useful and that is always my sticking point.