The "1 PIP" Challenge

[ferenci84]

work on rules

Oanda and has 0.9 pip spread, and ECN brokers has even little. It is 2:1 risk to reward ratio, and the price should move 2 pip without move back 1 pip. On a good breakout, that is possible. Let's work on the rules.
In the trend high probability breakout is, if there was a trendline bounce, better if the retracement is at a fibonacci level, and best if the retracement is also a consolidation chanel or triangle.
Because your target is 1 pip, you can look for setup at the smallest timeframe, and should wait just few minute for the next good setup.
If you make trades, post the picture of it on chart.

 

[AgentZ86]

Sounds like fun, I'll work on this some

I've created nice systems on the 4hr charts with the CCI that did not meet a good equity management rule at all, however it was in the 80% probability range 40 pips gains to 80pip losses, however I was not comfortable with the risk/reward so I don't use it, but the system backtested good for past 10 years.

I think the best place to start is to give this strategy a name
Just for kicks can we call it the Monkey Pips Strategy

And then perhaps to consider the probability vs the risk etc.
Lets toss this around a bit out of 10 trades etc.
90% probability at a 5pip stop would be 9 pips gained vs. 5pips loss
Lets continue
80% @ 8pips vs 10 pips loss
70% @ 7pips vs 15 pips los

So no need to really continue at that point with a 5 pips loss beyond this point.
90% probability would work, or perhaps 85% etc.
Not much pips for 10 trades, however if it were constant and took no time then would be fun and profitable

However if your stop increased to 10 pips, then you would have to be even more accurate.

90% @9pips vs 10 pips loss
95%@9.5 pips if there is such a think vs 10pips loss
So with 10pips loss you would have to have 100% of 10 trades correct to profit.

So the lower the loss the better, which is elementary and the higher the probability the better.

So to consider weather to trade in trend or in consolidation range ? then what indicators if any ?

I'll do some back testing on this to see if I can find anything even close to doing the Monkey Pips -LOL
Well happy trading

 

[misterboy]

Hi All,

Okay, hands up who is sick of reading about 100 pip a day strategies or even 20 pip a day strategies:clap: They are fine unless you run out of capital trading it.

i want to see if the scalping and intraday community can rise to the 1 pip challenge. Probably sounds easy to some while others are saying "it's as easy to get 10 pips as 1 pip". Well, people don't realise the power of just one pip. If i showed you a way to get just 1 pip every time and 9 others done the same then that is 10 pips a day every day, not bad when you compound your capital right? If you can pull 1 pip out of a strategy then it is worth it. Okay, some parameters. No point in a strategy that takes all day to deliver 1 pip, we would all starve. So, you have to come up with a way to get 1 pip evry time at roughly the same time everday so we can all tune in. Then hopefully we can fill in the time slots as we go.

I have several that i will share if this gets going. Try keep it simple folks, the less indicators the better (don't want to waste time setting them all up for 1 pip)

Hm..how about this: open a 5 minute chart, wait for the price to reach the 25 EMA (use 50 or whatever you want), make your decision accordingly (whether it touches upward or down). And close it after it hits 1 pip. Now im not a pro so dont jump on me anyone..just my 2 cents

 

[nobodytrader]

Too bad Forex doesn't have an exchange floor where u can scralp 1 pip.

 

[sergeyrar]

1 pip system

where can you find a use for such a system? where can you find spreads less then 1 pip ????

 

[kaligula]

sergeyrar - I think you missed the point of topic that obviously is not earning on FX, but rather 1 pip challenge with no reason

BTW I think that method for 1PC should consider trading around key SR levels [fibs and pivots as well], however it would need to be semiautomatic, as not every price action would be good. Additionally trading around a key news may be profitable on a chart, but PA may be too quick in real life.

In general thats where our eyes should be turn to in order to beat 1 pip challenge.

 

[sergeyrar]

1 pip challange

ok...So i have an idea for a-1 pip profit system (which is kinda useless but whatever... )

lets define some veriables :
T1 - time difference between Tick0 and Tick1
T2 - time difference between Tick1 and Tick2
t - average time difference between two ticks



If ((T1<<t) and (T2<<t)) and [( (Tick1>Tick0) and (Tick2>Tick1) ) or ( (Tick1<Tick0) and (tick2 < Tick1) ) ] then its likely the third Tick - Tick3 will remain in the same direction


in simple words.... if the two first ticks are in the same direction and the time differences between those ticks is relatively small (that means that the trend is strong) its very likely the third tick will be in the same direction of the first 2



GOOD LUCK !

and if you find any use of this strategy let me know...

 

[samnakthong]

Tell you what, for all the critism OP received at the start of this thread, it has had at lot of posts.

 

[jaketraderboy]

why only take 1 pip when you can take more?

 

[kaciara]

1 pip /day ... 365 pips/year

implies at least 10 full contracts to trade

 

[£10kLoser]

1 pip a day is more like 240 pips a year because of weekends and holidays...

 

[kaciara]

1 pip a day is more like 240 pips a year because of weekends and holidays...

yes

of course, just for readability

so at least 12 full contract...