Quote from Acs:
This comment shows your lack of understanding.
if you aim to take a 10 pip profit yes you need a 3 pip stop if you are going to sustain this for the long term.
Quote from cabletrader:
lol, who is aiming at 10 pips profit on a trade? Not me!
Sure, if you target 10 pips then you need a comparable reward, that much is obvious. Some adept scalpers target less than 10 pips on a trade and consistently make money so really your argument doesn't hold water.
How many pips I'm prepared to lose on a trade is like asking how long is a piece of string, it varies and depends on the trade and the analysis that went into taking it. Having a mandatory x pips stop is meaningless.
Quote from cabletrader:
I think you're right!
Quote from Acs:
The both of you resort to insults its interesting. Do you feel threatned? i am simply sharing my views and you have nothing better to comment then insults?
Quote from giles117:
More like annoyed. Show me some quantifiable data that having a goal of 10pips will cause one to wind up ruined. Show me some quantifiable data that Goals can only be met and never exceeded.
Show me quantifiable data that Global Warming is man caused, and I'll buy you lunch. LOL..
Peace....
Quote from Acs:
It is very simple why 10 pips will fail and i have explained it many times.
But every time I do explain you turn around and say no! no! we aim for 50 or 100 pips. So I donât think I understand what aiming for 10 pips is with you.
You take 100 pips in one trade or take 10 pips in a trade both are very different, the later taking 10 pips will fail.
this comment "Show me some quantifiable data that Goals can only be met and never exceeded"
Really this comment shows your maturity.
Quote from giles117:
Please quote the "aim for" portion when we described the possibility of this concept. Please do so....
Normally I'd drop an argument such as this one, but I am bored out my skull today watching charts, waiting for entries and watching my positions move sideways today. So I indulge your lack of intellectual stimulation. LOL.
My comment says prove what you suggest.
I have offered very provable scenarios...
So has CT. Yet you choose to sit in your villa and stick to your unfounded assumptions...
Now if you experienced this, please say so and show some examples of your experiences for the rest of the traders. LOL.
Yet you dont so I take you as a quack. Much like the average psychologist.
Quote from Acs:
Haha brilliant,
Having a mandatory pip stop is meaningless?
let me tell you now with that comment you will find your trading will never succeed for you.
If your stop changes every trade you take, and i guess this is the same for your profits, you will allow certain losing trades to wipe out multiple winning trades.
You fail to realize that to be successful you must have a strategy that you follow consistently. You have to take away the element of gambling and reduce the element of risk by as much as possible.
You want a trading strategy that will make money for 6 months? or 20 years? if you want the latter you need something in place with your money management that follows a consistent rule.
at the moment it seems that you do not have this and maybe this is why you fail to understand why 10 pips can not work.
As for your comment about trading taking less then 10 pips and making profit? please where are these people? some guy posted in a forum that he makes millions trading like this? means he does?
If you new anything about what goes on in the city they do not scalp for less then 10 pips a trade because it simply is suicidal.