We Made +4142 pips in last 2 weeks (by risking 12,819 pips)

[trendie]

Arent you frickin annoyed by these pseudo-spammers jabbering on about their "I made 3000 pips" without pointing out how much frickin pips they frickin risked to get there????

Oooohhhh!! how clever they must be, making money in a clearly downward trend, giving the illusion they have some secret technique of winning??

Where the frick where they when the markets where ranging??

Hmmmmmm....
Theres this joke about a guy who bought a watch from another guy at exactly 12 noon. Good price as well for a high-end brand name, Rolex.
When he got it home, it turned out the watch didnt work, and had only one hand!!

GEDDIT!! Selling FX systems when the markets trending, when any ffrckin 2-year-old can tell its time to SELL.

Where are these fricking geniuses when the markets ranging????

La-la-la-la. Another bottle of Veuve Clicquot, monseuir, when your ready....
la-la-la-la.
cheeeeeeeerrrrrrrrrrrsssss!!!!!

Cynical???!!!! Moi??!!

Hope (all you genuine traders) you all have a profitable coming week. You probably wont make 1500 pips.
Thats because your system is robust enough to factor in trending and ranging conditions, and can cope with changing conditions.

Im off to listen to Eddie Izzard on BBC Iplayer...

 

[wasp]

Hope (all you genuine traders) you all have a profitable coming week. You probably wont make 1500 pips.

Bloody will! :cheesy:

 

[trader_dante]

The other thing to bear in mind is that people calculate ticks/pips in different ways.

When I joined my prop firm, I realised that the traders all calculate pips made/lost in a day by multiplying the pips by the number of contracts traded.

So you get someone swanning round the office saying "I made 100 pips today" when in reality all they did is made 20 pips on a 5 lot.

Which then means that bigger accounts = more risk = more contracts traded = more pips made.

When in actual fact capturing a certain move is capturing a certain move regardless of how many contracts you trade.

Spammers don't mention all the factors of their calculation.

When you are selling to someone, the attention is definetly not in the details!

I remember a letter from Vince Stanzione claiming how he made a few thousand quid from a £10 bet on the markets. What the naive reader doesn't realise is that he is talking about £10 per tick which therefore means his risk was far, far larger and makes the gain look much less significant.

But like everything it's in the wording.

White lies and deliberate witholding of information is what makes these system sellers so much money.

 

[neil]

champagne has gone to my head. I was going to post something bordering on intelligent then lost the will to live

 

[Paul71]

The other thing to bear in mind is that people calculate ticks/pips in different ways.

When I joined my prop firm, I realised that the traders all calculate pips made/lost in a day by multiplying the pips by the number of contracts traded.

So you get someone swanning round the office saying "I made 100 pips today" when in reality all they did is made 20 pips on a 5 lot.

Which then means that bigger accounts = more risk = more contracts traded = more pips made.

When in actual fact capturing a certain move is capturing a certain move regardless of how many contracts you trade.

Spammers don't mention all the factors of their calculation.

When you are selling to someone, the attention is definetly not in the details!

I remember a letter from Vince Stanzione claiming how he made a few thousand quid from a £10 bet on the markets. What the naive reader doesn't realise is that he is talking about £10 per tick which therefore means his risk was far, far larger and makes the gain look much less significant.

But like everything it's in the wording.

White lies and deliberate witholding of information is what makes these system sellers so much money.

Spot on, TD.


Last year i put 200 quid in an SB account (November), i came out with 430 quid end of December.

Traded Nas Futs, seems good, look between the lines, and it was nothing special.


Most trading results can be 'worded up' and made to seem better.

 

[MrGecko]

So you get someone swanning round the office saying "I made 100 pips today" when in reality all they did is made 20 pips on a 5 lot.

My PnL is always measured in Ticks per Contract / Pips per Lot... NEVER as Gross Ticks / pips and NEVER EVER as $ amounts

it is a much easier way of keeping an eye on your risk management, and it is easier to notice if your perfromance is starting to tail off when trading up in size... specifically, by standardising your "units of return", you can keep an element of consitency when doing your pre-trade etc...

 

[Paul71]

My PnL is always measured in Ticks per Contract / Pips per Lot... NEVER as Gross Ticks / pips and NEVER EVER as $ amounts

it is a much easier way of keeping an eye on your risk management, and it is easier to notice if your perfromance is starting to tail off when trading up in size... specifically, by standardising your "units of return", you can keep an element of consitency when doing your pre-trade etc...

Ahhh! What is REAL risk? Not to be arguementative here, Gecko. Risk can be standardised in terms of %s, but what was the 'real' risk ever in the 'eye of the beholder'?



It can't be formulated.



So does luck play a part in success?

 

[MrGecko]

OK - what I mean to say isn't really about risk management then...

My point was made with stop placement and profit targets in mind... following on from TD's example... say you have used the same strategy and have progressed to trading 5 lots per trade (on average, you can't sell 5.46 contracts to give you your XX% risk), and a setup becomes apparent with a stop 20 ticks below entry... I find it far easier to consider it as a 20 tick stop on 5 lots than a 100 tick stop - quite simply because the scale of ticks per stop can remain within a range that you are familiar and comfortable with - if you consider the $$ in their own right, you are just giving yourself something else to think about, and creating additional problems for yourself IMO.

I mean - once you start attributing $$ value to everything you do, it is not long before you start thinking about what you could have done had you not taken the trade, and so it knocks your confidence, etc... you start to see a trade (lets say this one), and say "Now I could take this 100 tick trade, or I could take the GF away to rome for the weekend - which will it be?". If you get to that stage, you are really making life difficult for yourself. Better to keep your "units" constant, and let your front end take care of selling 5 instead of your original 1 contracts.

 

[Paul71]

But you are putting everything into a numerical format. What about an individuals needs/circumstances?

 

[trader_dante]

Spot on, TD.


Last year i put 200 quid in an SB account (November), i came out with 430 quid end of December.

Traded Nas Futs, seems good, look between the lines, and it was nothing special.


Most trading results can be 'worded up' and made to seem better.

There you go! You see, if you were a system seller you can then say:

"My system made well over 100% on equity in a month". Totally true but nonetheless misleading.

Or you go long the Dow £2 per point with a 200 tick stop and it moves 200 ticks into profit and you say:

"My system made £400 from a £2 bet" Again, "true" but misleading. The "bet" was actually £400.

When I started posting on T2W I had run my account up from about £50 to a few thousand. I was trading at low stakes and had consistency and was proud of the return which was in the thousands of percent. But when I posted my percent return, I had huge amounts of PMs asking me how I did it and whether I could provide signals etc because people could multiply any stake by that percentage and instantly see a pot of gold.

Percentage return is something that is so easy to make deliberately misleading without having to lie.

 

[Paul71]

There you go! You see, if you were a system seller you can then say:

"My system made well over 100% on equity in a month". Totally true but nonetheless misleading.

Or you go long the Dow £2 per point with a 200 tick stop and it moves 200 ticks into profit and you say:

"My system made £400 from a £2 bet" Again, "true" but misleading. The "bet" was actually £400.

When I started posting on T2W I had run my account up from about £50 to a few thousand. I was trading at low stakes and had consistency and was proud of the return which was in the thousands of percent. But when I posted my percent return, I had huge amounts of PMs asking me how I did it and whether I could provide signals etc because people could multiply any stake by that percentage and instantly see a pot of gold.

Percentage return is something that is so easy to make deliberately misleading without having to lie.

That's it, Tom.


Enough to cover margin, and a person can create thier own figures without lying, but people don't see this, and vendors know people only see what they want to see, so i suppose it's all fair game.


That's life.

 

[wasp]

A fool and his money are easily parted though and if peeps are too dumb to see the truth then they deserve to lose their money if they don't put in their homework.

Definitely something people should think about when they read these offers/scams. Plus, like Trendie says, what happened prior? You need to see at least a years worth of results to see true performance.

Successful trading is a marathon, not a sprint.

 

[Paul71]

OK - what I mean to say isn't really about risk management then...

My point was made with stop placement and profit targets in mind... following on from TD's example... say you have used the same strategy and have progressed to trading 5 lots per trade (on average, you can't sell 5.46 contracts to give you your XX% risk), and a setup becomes apparent with a stop 20 ticks below entry... I find it far easier to consider it as a 20 tick stop on 5 lots than a 100 tick stop - quite simply because the scale of ticks per stop can remain within a range that you are familiar and comfortable with - if you consider the $$ in their own right, you are just giving yourself something else to think about, and creating additional problems for yourself IMO.

I mean - once you start attributing $$ value to everything you do, it is not long before you start thinking about what you could have done had you not taken the trade, and so it knocks your confidence, etc... you start to see a trade (lets say this one), and say "Now I could take this 100 tick trade, or I could take the GF away to rome for the weekend - which will it be?". If you get to that stage, you are really making life difficult for yourself. Better to keep your "units" constant, and let your front end take care of selling 5 instead of your original 1 contracts.

Gecksie,


What was i on about last night? I couldn't even read properly nevermind understand

 

[wasp]

Northerners... Can't even drink either!

 

[Paul71]

Northerners... Can't even drink either!

I'll have to lay off the turps on saturdays.

 

[arabianights]

Northerners... Can't even drink either!

South of Leeds (and really that's too far south as it is) everyone is a cocktail drinking hemaphrodite.

Which must be a good thing if one is from Brighton.

 

[wasp]

Coulda sworn you said in the chatroom you'd live in Brighton? and now live in London?

Fancy a Screwdiver or a Slow comfortable Screw one night?

 

[Hotch]

...followed by a multiple screaming orgasm?

 

[arabianights]

Coulda sworn you said in the chatroom you'd live in Brighton? and now live in London?

Fancy a Screwdiver or a Slow comfortable Screw one night?

I'm only in London to take the money back up north from where it has been pillaged.

Brighton? I'd rather screwdriver my manhattens off.

 

[wasp]

I'm only in London to take the money back up north from where it has been pillaged.

Brighton? I'd rather screwdriver my manhattens off.

Ahh, I was oop Norf once... Used to go pot holing and take each other up the mine shafts.

Could always meet at that thriving Canal Street in Manchester??!!

At least here though you can have sex on the beach :whistling