vendor claims he made 31,157 pips last year

[Lord Flasheart]

I'm sure it can be done if you throw ten lots at each trade and then scale out and claim full pips on the remaining lots.

sadly you can only have a max of 31 positions and no false claims allowed

 

[ChocolateDigestive]

your so right,not one,its just a shock to see newton turning like that.I though he was at least offering something. I guess he wasnt getting enough subscribers at a low rate so up the stakes go and the lies with it

you say 'turning' but is there any evidence that he EVER made money with a systematic break out method.

 

[Lord Flasheart]

you say 'turning' but is there any evidence that he EVER made money with a systematic break out method.

None, but for what he was charging initially newbies would at least gain some value

 

[neil]

well fu%k my old boots,is that based on 1 lot,it doesnt say. I had him down as a guy that charged about £50 a month for his room and offered genuine support and value for that figure. For £50 a month I have no problem with advice being sold, but to make those claims. Oh well my beliefs about these guys have gone even lower than I thought they could. Theres NVP on another thread singing the praises of john bartlett and steve ward

I'm embarrassed - I thought Phil was genuine

 

[VielGeld]

Does the market even move 31xxx pips in a year? Well, multiple markets, sure, but 31k is a hell of a lot of movement.

Not sure how anyone could believe this, really. You'd have to be incredibly gullible or the greenest of green shoots.

 

[The Leopard]

Does the market even move 31xxx pips in a year? Well, multiple markets, sure, but 31k is a hell of a lot of movement.

Not sure how anyone could believe this, really. You'd have to be incredibly gullible or the greenest of green shoots.

Maybe he trades USD/ZAR - there are plenty of 15 minute bars that move a thousand pips.

 

[counter_violent]

31,157 pips.

So for arguments sake, lets say there are 250 trading days based on a 5 day week. Lets also assume that he trades 4 instruments, so the calculation would be 31,157 div 4 div 250.

I make that 31.157 pips ave profit each trade.

Wots so fookin hard about that then ?

 

[Lord Flasheart]

31,157 pips.

So for arguments sake, lets say there are 250 trading days based on a 5 day week. Lets also assume that he trades 4 instruments, so the calculation would be 31,157 div 4 div 250.

I make that 31.157 pips ave profit each trade.

Wots so fookin hard about that then ?

if he works 8 hours a day,thats only 15 pips an hour, easier than I thought,

 

[dazzer_fx]

31,157 pips.

So for arguments sake, lets say there are 250 trading days based on a 5 day week. Lets also assume that he trades 4 instruments, so the calculation would be 31,157 div 4 div 250.

I make that 31.157 pips ave profit each trade.

Wots so fookin hard about that then ?

I get what your saying but thats not how he works. As far as I can remember
he opens 6 positions, 2 positions have a scalp target of 20pips, 2 positions have
mid target of 40pips and the remaining 2 positions are managed as a swing trade
at around 90pips target or left to run. If the trade goes imediately against you
at around 20pips sl that would be -120 pips. As soon as a target is hit the SL is
reduced on the remaining positions.

 

[counter_violent]

if he works 8 hours a day,thats only 15 pips an hour, easier than I thought,

From memory, cos I can't really be arsed finding the vids. He was looking at asia range break out plays, which are basically set and forget type trades with entry, stop and limit order targets (typically 1 day average price range) in place from the get go.

I would imagine if he practices what he preaches then some days will be very profitable indeed circa 4/500 pips across 4 instruments.

 

[counter_violent]

Don't mind me chaps, i'm only playing devils advocate here, and of course adding some balance to the topic.

 

[counter_violent]

I get what your saying but thats not how he works. As far as I can remember
he opens 6 positions, 2 positions have a scalp target of 20pips, 2 positions have
mid target of 40pips and the remaining 2 positions are managed as a swing trade
at around 90pips target or left to run. If the trade goes imediately against you
at around 20pips sl that would be -120 pips. As soon as a target is hit the SL is
reduced on the remaining positions.

Ok so what you appear to be saying is that pips are counted based on a 1 lot?

In your example, 6 lots, implying trebble counting.

 

[dazzer_fx]

Ok so what you appear to be saying is that pips are counted based on a 1 lot?

In your example, 6 lots, implying trebble counting.

As I remember yes.

 

[VielGeld]

I get the Devil's advocate argument, but that assumes 31k pips after losses. That's a hell of a track record.

 

[counter_violent]

I can't even find reference to the claim of 31,157 pips profit let alone how it's calculated.

Yet here we are all discussing how long is a piece of string !
As if i've nothing better to do
The mind boggles!

 

[The Leopard]

I can't even find reference to the claim of 31,157 pips profit let alone how it's calculated.

Yet here we are all discussing how long is a piece of string !
As if i've nothing better to do
The mind boggles!

http://www.trade2win.com/boards/general-trading-chat/147904-vendor-claims-he-made-31-157-pips-last-year.html#post1827140

 

[The Leopard]

I can't even find reference to the claim of 31,157 pips profit let alone how it's calculated.

Yet here we are all discussing how long is a piece of string !
As if i've nothing better to do
The mind boggles!

Vendor pip counting:

Say you trade 10 lots.

You get a win, say 50 pips. That's 500 pips, obviously.

In the same way, we calculate a loss:

Lose 50 pips. That's 50 pips.

Two trades, net profit 450 pips.

 

[counter_violent]

http://www.trade2win.com/boards/general-trading-chat/147904-vendor-claims-he-made-31-157-pips-last-year.html#post1827140

Duh ffs...fook...

 

[counter_violent]

Vendor pip counting:

Say you trade 10 lots.

You get a win, say 50 pips. That's 500 pips, obviously.

In the same way, we calculate a loss:

Lose 50 pips. That's 50 pips.

Two trades, net profit 450 pips.

Now that's what I call genius

So what method of pip counting does Phil use?

 

[The Leopard]

Duh ffs...fook...

Here it is on the website:

Performance | Trading Strategies.

It is quite difficult to find - the performance figures are hidden in a section headed "Performance". Pesky vendors.