Discussion in 'Forex - Currencies Forums' started by JoshPosh, Sep 16, 2014.
I have methods to my madness. I make about 1000 pips a month. What's your trading style?
1000 seems like a lot to me, you must have quite busy days
I take a much more slow and steady approach, being careful not to have all my eggs in the same basket though...
I basically trade in small pip quantity amounts. I think in my opinion it's smarter to take smaller risks. Huge risks don't necessarily translate into huge profits. So, I've learnt to be happy with the minimal I gain. It all adds up
1000 pips isn't really that much. Well, we have to take into consideration how many lots he trades. 1000 pips @ .01 lots only translate to about US$10 for the month. However at 1 lot, that's (1000*1) US$1000. Now that could do me well for the next 3 months. I economize well.
I play 6 pairs at any given time. It's a combination of basket trading, and trend trading with limit orders. I don't like to say dollar amounts so I just say pips.
to me i feel the issue on ground is not really how many pips an individual is making but rather on what the maximum draw-down usually is while trying to achieve this goal. the truth about the matter is that often times most traders don't take time to consider their draw-down.
My drawdowns go as far as 30%. That's the worse I've seen it go. But I've made a few corrections and tweaks. It doesn't go that far against me now. Maybe 20% at best.
I usually buy a small amount of shares at a time. I use a certain method, so I do not need a stock broker. But, I still will accept tips from anyone, especially if they style is unique to my style of trading.
Alright, here's a pic of one of the 6 pairs that I play at any given time. It's on the 15 minute chart, but I scan all trends from 15,30,60,240, charts. Do you see the trend and the psychological levels? That's what I do. I get in on the retracement and ride the trend. I enter the trades at the same time everyday and close them all 24 hours later.
for me i don't really think i have a consistent trading style per say because my trading style is constantly evolving.This is because i believe that every single day i keep learning in the market and as a result their is the need for me to upgrade my style.
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