Discussion Contest - riyaz22

   sudsind posted:
   sorry for my previous comment guys, i said that everyone should try free signals he is providing on his website, i was not aware as i tried to signup on monday for his free signals, but on website it says free signals trial but in reply after signing up you will get a mail that specifies that we can try signals for $100 a month first and $200 second month onwards. So it's basically not free, if anyone want to try they can try it for $100 but i am not gonna try as i am happy with my own trading, and don't wanna go for it, i just wanted to check his trading style as he made astonishing returns in the contest.

   Axe007 posted:
   My question is:

If i make this much profit in reality(i know its almost impossible); will my brokers allow me to withdraw it?😁

   alex4xes posted:
   profix,

negative pips balance positive pip is profit, that how it will be, no trader in the world can have only positive pips. But money management is also decided by the pips in risk & potential pips that one can win. You determine tradable lot size depending on your % of equity & pips in risk....Net pips gained is what good & professional traders will look for...Iam amazed with your statement that PIPS are not important.

for example,

if you have $1000 & you are willing to risk 2% of your balance then its $20. Then you have to decide your SL in pips for determining the lots not your lots to determine your SL pips...If you have logical SL level & pips to that SL is 20 Pips then you can trade 0.1 lot as your money management has granted.

Hope this helps you to know the importance of PIPS in money management

Cheers

   pitagora posted:
   

   alex4xes posted:
   profix,

negative pips balance positive pip is profit, that how it will be, no trader in the world can have only positive pips. But money management is also decided by the pips in risk & potential pips that one can win. You determine tradable lot size depending on your % of equity & pips in risk....Net pips gained is what good & professional traders will look for...Iam amazed with your statement that PIPS are not important.

for example,

if you have $1000 & you are willing to risk 2% of your balance then its $20. Then you have to decide your SL in pips for determining the lots not your lots to determine your SL pips...If you have logical SL level & pips to that SL is 20 Pips then you can trade 0.1 lot as your money management has granted.

Hope this helps you to know the importance of PIPS in money management

Cheers

Alex,

You are trying to convince more experienced people that you are right and they are wrong, while you don't understand the fundamentals of long term profitability. You don't even realize how much marketing, Wikipedia articles and EAs written by armatures have affected your thinking when you are talking about fixed 2% risk and fixed SL.

Any truly long term, robust strategy, that will not have it's edge wiped out in a year or 2, should adapt the SL based on market conditions at the time. The most common method is based on ATR. Look it up. If SL/TP changes, then so should the lot sizes. There lots of EAs/strategies that can have negative pips with lots of profits. It's all about positioning, and confidence in that specific trade.

For me, talking about pips is pointless and a waste of time. It only makes sense if all your trades are of the same size, and if this happens I can tell you, you are doing it wrong.