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I was bored the other day and was curious that if somebody can get wealthy earning 10 pips at one time. I usually exchange the asian session, therefore I do not really receive the 100 pip moves. I was curious if I started $1000 how much would I have using a egy that may get me 10 pips a day. When I finished this spreadsheet, I was shocked. Im not sure how to attach files and also not sure if I could attach an excel document but let me know if you would like to see it.
I concur bro, just make sure u can create ur profit again and as constant as u can will make u enjoy ur forex trading, as using constant profit u can do ur forex trading while improve ur skill and expertise again and again for anytime u do ur forex trading. Just like what I said, dont rush ur forex trading only keep calm and earn some profit.
I have various trade calculators to aid in my MM prior to each transaction session to find out the number of lots I may place at a specified S/L, so I have crunched similar numbers I am positive, though I have not seen the spreadsheet you are talking of. There have been comparable posts/questions and some of the remarks went along these lines;
Yes the numbers are huge, though having a daily aim of just ten pips each day may in the long run become a loosing version. You should have great MM set up as many will point out. To acquire 10 you have to also be willing to risk. But how much? Just ten? Then together with the spread you may actually lose 13 to 15 based on the spread/pair traded.
I'm in complete agreement with the concept that the hype/pressure to ch The Big Move is quite extreme in the general forums. On a casual read, an individual could come away with the concept that in case you don't grab huge moves you are not that versed/experienced of a trader. Yet I believe that if one consistently were to trade a version that could grab 10/15ish pips consistently with appropriate MM they would be set for life w/a good career. If one were to look at purely mechanical trading systems (I am presuming EAs here), an individual could understand that the bots that shoot for 10 to 20 pips a trade are hands down winners over those that hold out to shut profits at 100, 200 or even more pips.
Another frequent thing that happens is that once you see a nice 10/15 pip move, and you also take profits according to your model/MM. . .then see the move go onto 40/60/80 or pips you might kick yourself mentaly. Then next time instead of after your model/MM and taking profits at 10/15 you try to grab the Move also it retraces until you think to place a BE 10 S/L. Today you are in the pit, and hoping it will once more resume the first trend.
Ah, such is the trader's life.
Decisions, decisions.
Cheers,
Thom
: ) Thom
I believe this has already been mentioned previously, but with a 10 pip commerce it puzzles me how you are able to factor in a risk benefit ratio.
Say you are trading EURUSD, you have a spread of 3 pips, with a 7 pip stoploss equal to 1:1 risk/reward - you are are now setup to make your 10 pips. With this calculation you need to secure greater than 50% to become profitable.
Drop below this and you will get rid of money consistently.
A 7 pip stop is far too tight for my liking due to volatility, therefore this might have to be increased meaning risk/reward is now less than 1.
I don't like to exchange this way. Rob Booker does not disclose the whole system in that report, and rather certainly there is something I don't know, but thats the way I view it prima facie.
I agree, 10 pips per day (average) is not anything to sneeze at, and a much easier goal to attain then going for the big home run.
No, Rob certainly doesn't disclose everything from this report. Going for 10 pips is a basis on which you can begin amassing small gains and confidence. But, in my opinion, going strictly for 10 pips each time is not likely to get you very far. Ending up with AVERAGE profits of 10 pips per trade is excellent, but that implies a number of your trades will be worth more, a little less.
But everything depends on your own body, also. You have to examine it, examine it, and then examine it a little more. If at the conclusion of the testing you find that your system justifies opting for just 10, then cool. But you'll find that opting for 10 pips each time, with say a 20 pip stop, you'll have to have a precision of 70% or more to come out marginally profitable. If your system gives out tons of trade opportunities then you might come across this system of trading value.
Bottom line: I think it all depends on which your testing reveals and whether You're comfortable trading with Bad reward:risk ratios
Once I mean 10 pips it doesn't indie that when im up 10 pips im out. And I don't use a stoploss. In the event the trend doesnt go in my favor over the next 3-4 candles I get out normally out only spread. Today for example I made 20 pips on the usdjpy brief because the trend preferred me but only took 3 pips to the eurjpy make it looked like it was weakening. I coulda easily covered the eurjpy for a little reduction. My trading style generally wont kill you.Quote:
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I know of a guy (NOAH) MET him watched his trading account he receives 10 pips a day no more no longer has a 90 pip stop loss. As soon as I saw his commerce account report hadn't lost a commerce in more than a year documentation I watched. He makes 200,000.00 a month. Gives his entire trading method to anyone who needs it. I have not taken the opportunity to test it.
Now you men can blast away. I tell the truth
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It is called the NOAH EFFECT or the procedure
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not very hard to believe. 10 pips per day isn't a lot in any way. Just ch a continuation of a trend and thats good for at least 7. If you understand what your doing 25-50 pips is probably even. I just used 10 for instance because I understand its obtainable if I stated 25 or 50 that could seem far fetched.Quote:
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