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Mysticforex

More Pips or More Profits ?

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Question for all you traders out here.. What's your approach and why.

 

Do you prefer to grab more pips or

Do you prefer to trade the small moves with greater probability?

 

My trading has shifted quite a bit from the traditional, more pips and swing trading to small but highly probable trades. At times the urge to widen the target on seeing a double top pattern is hard to fight, but again the market is and can be irrational. I also find it a good way to control greed.

 

Do any of you try this approach of trading small but very probable moves? Thoughts??

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Question for all you traders out here.. What's your approach and why.

 

Do you prefer to grab more pips or

Do you prefer to trade the small moves with greater probability?

 

My trading has shifted quite a bit from the traditional, more pips and swing trading to small but highly probable trades. At times the urge to widen the target on seeing a double top pattern is hard to fight, but again the market is and can be irrational. I also find it a good way to control greed.

 

Do any of you try this approach of trading small but very probable moves? Thoughts??

 

The more pips you expect to get the more is probability for trend change under the influence of different events constantly occurring. But on the flip side the bigger is timeframe the stronger is trend. Thus, to obtain clearer conclusion we have to also know how much is the capital, leverage and lot size your broker allows to trade you. For me, my average trade settings are 10 lot size (because of premium acc. on Hotforex), 1:400 leverage, 2500 $ margin, average in-market time is 3-4 min..

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Mystic,

 

...challenge is to keep both ways… and find ways to know when to do each.

More accurately, find ways to slide the size weighting of each ‘system’ to the proportion of each that gives you the best odds across time

...without being whipsawed when the ‘narrative’ inevitably shifts… :)..."Everyone has a plan until they get hit in the mouth."– Mike Tyson

 

Have a great holiday all

 

zdo

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Mystic,

 

...challenge is to keep both ways… and find ways to know when to do each.

More accurately, find ways to slide the size weighting of each ‘system’ to the proportion of each that gives you the best odds across time

...without being whipsawed when the ‘narrative’ inevitably shifts… :)..."Everyone has a plan until they get hit in the mouth."– Mike Tyson

 

Have a great holiday all

 

zdo

 

That is the challenge (the rub). My bread and butter trades are scalps... 4-10 ticks. I have found that it is very difficult (for me) to change gears... though I've tried. Scalping works everyday, all day long. I'd be a beast of a trader if I could flip that switch on the fly. Haven't quite figured out that trick yet.

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Do any of you try this approach of trading small but very probable moves? Thoughts??

 

When I was actively day trading trying to earn a living and developing my trading chops thats the approach I used, basically trading a confluence of hidden divergence trend reentry, with regular divergence trigers on faster timeframes.

 

In recent years I've moved away from that prmarily because I'm more concerned about risk, and I find it impractical to diversify using that approach.

 

I must admit that I still find it immensely satisfying to apply TA to a chart, and pinpoint potential entries and exits, and to take those trades, but I also realise this plays right into a major psychological weakness of wanting to be demonstrate that I'm right. I am in no doubt at all that the satisfaction from those kind of trades comes from being proved right and not from any financial incentive, and thats one of the secondary reasons I no longer like this approach

 

Although I could write a very long, and very boring book about why I dislike that particular style, and why I developed my current approach, I suspect that long term, if I could get the automation right, I'd probably drift away from my random thing back towards attempting to capture more "probable" smaller moves

 

I certainly dont waste too much effort these days trying to achieve that, but its not something Ive totally abandoned either. I supose its like being a recovering alcoholic, always just one drink away from a relapse.

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[quote name=zupcon;195580

I must admit that I still find it immensely satisfying to apply TA to a chart' date=' and pinpoint potential entries and exits, and to take those trades, but I also realise this plays right into a major psychological weakness of wanting to be demonstrate that I'm right. I am in no doubt at all that the satisfaction from those kind of trades comes from being proved right and not from any financial incentive, and thats one of the secondary reasons I no longer like this approach

[/quote]

 

Interesting observation...

 

I had not considered that there may be a psychological component involved in my difficulty with changing trading modes intraday. I can make the transition away from a scalpers mindset (trending markets help with that transition), but it usually takes me a couple of days. I can drop back into scalping just like an alcoholic returning to the booze.

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Interesting observation...

 

I had not considered that there may be a psychological component involved in my difficulty with changing trading modes intraday. I can make the transition away from a scalpers mindset (trending markets help with that transition), but it usually takes me a couple of days. I can drop back into scalping just like an alcoholic returning to the booze.

firstly, allow me to answer he thread header tittle.

i would prefer pips.

focusin on profit would lead to more risk to put. the pattern surely end up with a lot increasement trading startegies, for ex : martingle.

and i may just like jpenny said, trending market change me, market movement nowadays are much different. if we stay with an old plan with a new market behaviour, there;s a slim chance to survive. and typically I began to use scalping strategies, once i was a positioning trader one.

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More profit. I dont care for the pips. Its all abt the money in the end.

 

Pip may contain different profit 1,10, 100 dollar.. the point is to find suitable amount of risk and acceptable amount of profit you are ready to carry..

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The value of a pip changes depending on the pair you trade. Calculating the value of a pip is not vital to your success, as a trader, since your broker will automatically calculate the value for you. However, if you're going to trade, you should a little about how this works. :)

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More profit. I dont care for the pips. Its all abt the money in the end.

 

More profits sound good until you start losing pips in a recession. Then you realize it is better to have more pips. Besides,it is easier to slowly work towards increasing your profits with more pips.

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