Your Average Number Of Pips per day?

[the hare]

Any trader who consistently generally ends each month with a negative number of pips (and) still makes 20% gains on a good month ! needs to learn to control his urge to try to scalp the market.

You really dont have the first clue what you are talking about

complete nonsense.

 

[traderman1]

You really dont have the first clue what you are talking about

complete nonsense.

Would you like to explain where I am mistaken in the following sentences:

If he generally ends each month with a negative number of pips because of losing so many pips on scalping, then he should stop scalping.
If he still makes 20% gains on a good month (which means he has recovered all his scalping losses PLUS made a 20% gain) then he should focus on the swing trades only because they are much more profitable.

I would be interested in seeing your explanation.

PS I am not a novice trader.

 

[traderman1]

My business partner generally ends each month with a negative number of pips. He still makes 20% gains on a good month !

Would you like to explain that more fully?
With a working example?
Some people would be interested in seeing your explanation.

 

[brettus]

Would you like to explain that more fully?
With a working example?
Some people would be interested in seeing your explanation.

Scalping you would hit with a bigger size than a swing trade....So it's the other way round.

 

[traderman1]

Scalping you would hit with a bigger size than a swing trade....So it's the other way round.

Assume he is scalping with a bigger size. Therefore he makes bigger pip losses.
His swing trade MUST make bigger pips to compensate for losses, and then take him into profit.

I would like the hare to explain where I am making a mistake, if any.
Anyway you want to look at it, the statement that My business partner generally ends each month with a negative number of pips. He still makes 20% gains on a good month does not hold up.

 

[Barramundi]

Assume he is scalping with a bigger size. Therefore he makes bigger pip losses.
His swing trade MUST make bigger pips to compensate for losses, and then take him into profit.

I would like the hare to explain where I am making a mistake, if any.
Anyway you want to look at it, the statement that My business partner generally ends each month with a negative number of pips. He still makes 20% gains on a good month does not hold up.

Sounds to me like he is profitable on the scalping, but loses on the swing trades.
Eg. He makes 20 pips, at 2% each on 2 scalps at 5 lots = 40 pips. Total 4%.
He then loses 100 pips, at 2% on a swing trade at 1 lot = -100 pips. Total - 2%.
He is down a total of 60 pips, but is up 2%.

Do that ten times and he's up 20% for the month, yet down 600 pips.

 

[Hotch]

There's hundreds of systems on myfxbook with negative pip gains which are profitable (in the short term), 99% of them are martingale.

 

[brettus]

Assume he is scalping with a bigger size. Therefore he makes bigger pip losses.
His swing trade MUST make bigger pips to compensate for losses, and then take him into profit.

I would like the hare to explain where I am making a mistake, if any.
Anyway you want to look at it, the statement that My business partner generally ends each month with a negative number of pips. He still makes 20% gains on a good month does not hold up.

If i do two trades a month. One scalp £50 a point and make 20 ticks. Thats £1,000. If i swing trade £10 a point and lose 90 ticks. I lose £900. Overall I lost 70 ticks but made £100.

 

[traderman1]

If i do two trades a month. One scalp £50 a point and make 20 ticks. Thats £1,000. If i swing trade £10 a point and lose 90 ticks. I lose £900. Overall I lost 70 ticks but made £100.

50 quid a pip vs 10 quid a pip.
You are comparing Apples vs oranges.

Either way, you would be still be better off if you ditched the losing strategy. In this case the swing strategy

 

[brettus]

50 quid a pip vs 10 quid a pip.
You are comparing Apples vs oranges.

Either way, you would be still be better off if you ditched the losing strategy. In this case the swing strategy

How else do you lose pips and make money? WOW!! THINK!! Besides. The question is on average number of pips. Nothing to do with Trade size.

 

[traderman1]

My business partner generally ends each month with a negative number of pips. He still makes 20% gains on a good month !

The reality is that, all things being equal (risk, trade size, etc), this statement is misleading at best, and utter nonsense at worst.

The hare has not said anything in the statement above about his business partner using different trade sizes or different risk factors. The statement above stands on its own. And it is complete nonsense.

 

[Barramundi]

The reality is that, all things being equal (risk, trade size, etc), this statement is misleading at best, and utter nonsense at worst.

The hare has not said anything in the statement above about his business partner using different trade sizes or different risk factors. The statement above stands on its own. And it is complete nonsense.

I certainly don't mean to speak on behalf of all traders, or The Hare, but from my school of thought, I try to keep the risk per trade about constant in terms of percentage of my account.

Therefore, if I enter a long term position, I would use fewer lots as my stop would be further from the entry point than if I was entering a scalp where the stop was very small. Even on scalping positions, I keep in mind the dollar value of the pip, which varies from pair to pair. So I may enter with fewer lots on the EUR/GBP than with the EUR/AUD with the same stop size.

I think The Hare may have been making the point that pips are not necesarrily the best measure of one's performance. Percentage returns are a better measure. And total $ are what one needs to get a feed.

You would be correct in assuming that if he was constantly returning negative pips, regardless of whether or not he had positive returns overall, it would be advisable to review his strategy. This may involve dropping the longer term swing trades.

 

[brettus]

I certainly don't mean to speak on behalf of all traders, or The Hare, but from my school of thought, I try to keep the risk per trade about constant in terms of percentage of my account.

Therefore, if I enter a long term position, I would use fewer lots as my stop would be further from the entry point than if I was entering a scalp where the stop was very small. Even on scalping positions, I keep in mind the dollar value of the pip, which varies from pair to pair. So I may enter with fewer lots on the EUR/GBP than with the EUR/AUD with the same stop size.

I think The Hare may have been making the point that pips are not necesarrily the best measure of one's performance. Percentage returns are a better measure. And total $ are what one needs to get a feed.

You would be correct in assuming that if he was constantly returning negative pips, regardless of whether or not he had positive returns overall, it would be advisable to review his strategy. This may involve dropping the longer term swing trades.

Yea. This average number of pips is pretty meaningless.

 

[ffsear]

27 is my average

 

[Barramundi]

27 is my average

I mean no disrespect, and thanks for answering the original question, but IMO that is about as useful as saying that the answer to the meaning of life is 2 :cheesy:

I would suggest that unless we start talking in percentages, or multiples of R, then it's all pretty meaningless, or at least give it some context like 'I typically make about 6 trades per day, the winners average 25 pips, the losers average 15 pips, I average 50% success rate so I average 30 pips per day' or something....

 

[brettus]

I mean no disrespect, and thanks for answering the original question, but IMO that is about as useful as saying that the answer to the meaning of life is 2 :cheesy:

I would suggest that unless we start talking in percentages, or multiples of R, then it's all pretty meaningless, or at least give it some context like 'I typically make about 6 trades per day, the winners average 25 pips, the losers average 15 pips, I average 50% success rate so I average 30 pips per day' or something....

I typically make about 6 trades per day, the winners average 25 pips, the losers average 15 pips, I average 50% success rate so I average 30 pips per day'

 

[Barramundi]

I typically make about 6 trades per day, the winners average 25 pips, the losers average 15 pips, I average 50% success rate so I average 30 pips per day'

That's cool, dude :clap:

 

[brettus]

That's cool, dude :clap:

Thanks!

 

[HawkTrader]

Hi,

Just would like to know how many pips you guys make per day/week/month?

Thanks.

I actually average, on a daily basis, a lovely negative 263.7 - not bad, huh?

 

[Barramundi]

I actually average, on a daily basis, a lovely negative 263.7 - not bad, huh?

Today is your first day on the job, is it?