Sharing their July and August results with the Forum

Hi All -

As we know July and August are the two main holiday months and normally the market is not so busy. I noticed some comment today and one of the well known traders here commented July was a lighter trading month - but still did 776 pips - which is an excellent result.

I think it may be wrong to share money results - as we are on all different size capital accounts - but the common results are the Number of winning pips / Largest win / Largest loss / Number of trades etc - with pips counted individually not as lot sizes.- Notice no drawdown size or % capital risked - unless you want to add it

We share our charts ( well some of us do to a degree) we even share are "strats" and methods - how about the main reason for trading - the results?

Please don't look upon it as a "test" or pressure etc etc - in fact I would be quite happy with just 100 pips a month if I was on 100 full lots a pip - BUT - it helps with judging how good some methods might be.

We know we could use identical strats and one trader could still produce say 25% more than another trader - however - its good to get some "ballpark" idea.

All are welcome to comment and its not a contest - so sorry no prize ;-)

Look forward to some figures - and then we can also do if for August if enough are interested.

Regards

Peter

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Replies to This Discussion

Permalink Reply by Peter jcp on August 1, 2012 at 9:29pm

Interesting facts for a start - Most brokers look upon traders making over 250 pips a month consistently as doing well. Most new traders are looking at least 500 pips per month and I think in this forum many are looking for a minimum 500 a month and ideally 800-1000 per month ?

We then have to remember at least 70% of traders having losing months - so like might lose say 200 pips or more. In fact you can still post a monthly net win of say 100 pips - and still lose money - as your losing lots were bigger size than your best winners.

Hope this helps - let see what we get ;-)

Permalink Reply by Lisa on August 1, 2012 at 9:35pm

I’ll try to look at this as motivation to get off my blessed assurance ...

and use the Excel Spreadsheet software I purchased.

My broker no longer links-up with Myfxbook and / or such to make my life easier, ...

but I have wanted to get down to learning how to draw-up / program graphs on my results etc.

and not just on my over-all result, but how well particular pairs performed for me ...

how well I traded them etc.

Basically getting *really* into my results.

I did just download Ninja Trader and wanted to start figuring-it out, ...

but I’m thinking I need to / should play with Excel 1st.

Not as fun and exciting, but necessary. Ƹ̵̡Ӝ̵̨̄Ʒ

Permalink Reply by Peter jcp on August 1, 2012 at 9:56pm

That's all good stuff Lisa. I think you can get an excel spreadsheet with the formula already set up etc - similar to those one for compounding were you just enter your capital and the % compound per day/ week or month - but I forget where from ?

I am sure Keith will know. I looked at Ninja trader about 6 months ago - and gave up - but they are supposed to be good and the support department keep sending me e-mails at least twice a week.

I will say - i have not got all my records going back over 8 years as I have had about 5 different brokers and at least 4 computers of which 2 from 6 yrs back no longer work and were nor fully backed up - shame

It is the boring work of trading - but still necessary and can assist you with additional gains ;-)

Permalink Reply by Francesc Riverola on August 2, 2012 at 4:18pm

well done Peter... 776 pips is a great number to me!

Permalink Reply by Peter jcp on August 3, 2012 at 2:14pm

Hi Francesc - Yes I agree I think 776 pips is a great monthly pips total. But ...... - it was not my tally - it was one from another FX Street trader.

However I had a great July as well and ended up taking 322 trades with 58 of them wrong on my intraday scalping strategy. End result was just over 2000 pips - (2017pips) and only had a couple of trades over 50 pips in total.

My main core of results were all between 5 and 20 pips "trades" - ie the "crumbs" - with more results under 10 pips than over 20 ;-)

It's surprising when you add them all up - and although I have to focus and spend many hrs working for my pips - I am keen to see how it compares to the traders only after longer term and 200+ pip trades- just to see how their July and August results compare ;-)

Permalink Reply by Francesc Riverola on August 3, 2012 at 3:37pm

2,000 pips is even a better figure Peter... well done!

Permalink Reply by Peter jcp on August 3, 2012 at 6:14pm

A few weeks ago I lost electricity for over a day and now yesterday afternoon UK time in middle of thunderstorms and lightening in the Mid UK - lost my internet connections :-( .

However even with just over a three and half day trading this week - still clocked up 602 pips just scalping mainly EU and a few GU and AU trades whilst doing live updates in the "gate"

For me when under more pressure - I can focus more and end up achieving higher results - I suppose that shows how we are all so different - but there must be other traders like me who need to be put under more pressure of say calling trades or doing a longer session.

My old minimum targets of 40 pips a day have gone "out the window" and now I will try and aim for over a minimum 50 pips with targets over 100 pips limited by a maximum of 15 trades a day

We need to see some more live callers for intraday trades on other pairs in the "gate"

A big thanks to Pixta, Yakuta, Jim, Sun, Keith, Leon, Rao , Colin. Elan etc etc ( not forgetting Gissa who can still scalp better than me) who are active - and we welcome all others who want to contribute to daily live updates and calls

Have a great weekend

Permalink Reply by Keith Shaw on August 3, 2012 at 7:43pm

Peter, that's a hell of a lot of PIPS , you need to go on a PIP DIET !! ;)

Permalink Reply by Surjya Gogoi on August 24, 2012 at 7:29pm

Great trades Peter ..................... I also do intraday trading but have not being successful as I am relatively new to the forex market. So, what kind of intraday scalping strategy do you use of which I would like to have an idea as I am still learning?

Permalink Reply by Honest Sarjono on August 4, 2012 at 10:03am

Hi Peter,

Good idea.
I never even count how many pips I've got.
I will try to calculate :)

Have a good weeked :)

Honest

Permalink Reply by Honest Sarjono on August 4, 2012 at 10:16am

ps.

Blue and Red is my own trendlines indicator that it automatically drawing potential resistance and support. and then my scripts will take position if necessary.

But sometimes is not always right because news/fundamental can make some trouble. how to make it survive then scripts action are like this.

Permalink Reply by Peter jcp on August 4, 2012 at 1:49pm

Hi Honest - well I agree with you that counting the pips is not most important numbers - more important is the results in terms of money earned or achieved. For example -

You could have a positive monthly pip count - and still have a negative money result - due to your lost pips being on higher lot size.

Also I personally would prefer a months results of say 500 pips on 10 full lots - equating to $50k than achieving 2500 pips - but only on 1 full lot - resulting in half as much money - ie $25k

However counting pips is a good measurement of how good a potential your method or system is and also how good you are performing.

Most new traders miss the main point that just 10 or 20 pips a day can make you a lot of money with the correct stake based on a decent size account. So 200 -400 pips a month is a good result - but if your are on micro lots you might think - that's no good i only earned say 50 dollars in whole month - but on say 2 full lots then its a different ball game and results in earning good money.

In a perfect world it would be nice to do say 5 trades in a month and each one make you between 400-1000 pips within the month. That can actually happen at various times of the year - but for over 70% of the time currency pairs are just in ranges and going in both directions.

A totally inconsistent market - random - irregular - manipulated - etc - but there as some common traits - ie

Every day a pair will normally move at least 50-150 pips in a direction and if you re prepared to trade both ways every day then immediately you have 200-350 pips per pair to aim at.

We have normally 20-22 days per month so the potential on just one pair might be over 5000 pips - and even if you catch just a quarter of those pips you have done well.

If you then trade say 2-5 pairs - more potential and if you stick to good MM you want the winnings from a few hrs or days to help make you more money - ( compounding) or at least so you don't expose your capital to a higher risk level such as 5 or 10% on live trades.

I am more impressed with a consistent system - that make say 300-500 pips month in month out - than a system that makes 2000 pips in a few good months - then loses in say 3 month of the year.

My own method is geared to "optimization" and consistency - what ever the market wants to do.I can trade every day of the trading calender knowing that i should make positive pips - and of course on really busy days - I should make more pips.

We know no system is "full proof" and there are always advantages and disadvantages - and so you choose the methods etc that suit you and your experience and time available.

I look forward to hearing how many pips you make in August and I wish you all the best and have a super month

Regards

Peter