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what is biggest pip trade you have seen?
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tacet

Member Since Mar 10, 2019  41 posts tacet Nov 06 at 14:02
JDavda posted:
My biggest trade was 1700 pips shorting EURNZD. It was back in 2014 when the Euro was falling apart. The best part was that it was collecting a nice swap while I held for just over three months.

But it actually messed me up pretty bad. While it was one great trade, this was early on in my trading and set the wrong mindset for me. After that, I gave back all the profits and a significant chunk on top of that chasing 1000 pips trades. Since then times have changed and there is a lot more of this grinding type action in the markets. I find it much more tougher to get the big trades these days and now look for much smaller pips.

The only place I think you might be still able to get a good return with fair risk is in equities. Perhaps Gold if it does another leg higher, but timing is so important in these type of trades if you want to make sure your risk is controlled.


an interesting story of yours and a good post overall... The markets nowadays are tougher for everyone, scalpers and trend traders - everywhere including stocks, little value left in most of them. Mr Soros had a much easier life in the 60s... At the moment imho fx is still the best even if they cut rates like mad mad... what about trends in GBP this year? - very juicy for a leveraged trend follower cool...wink

you can’t fail if you don’t quit
JDavda

Member Since Jun 18, 2013  8 posts Jignesh (JDavda) Nov 06 at 15:34
tacet posted:
what about trends in GBP this year? - very juicy for a leveraged trend follower cool...wink

GBP is one of those few currencies that has been trending nicely. Not sure if it makes sense chasing it higher with GBP/USD up like 5% in Oct.. but certainly would look to get involved on a dip.

I'm not entirely convinced the political backdrop warrants further gains, but the technicals sure do look good.

If you don't stay humble, the market will make you humble
tacet

Member Since Mar 10, 2019  41 posts tacet Nov 07 at 14:13
There were lots of good trends since you've started, like GBPUSD mid 2014 to 2017: from ~ 1.70 to ~1.20. Fetch your calculator and see how much you'd gain in cash selling every weekly bar (or at least a green bar). Even with your 0.01 lots per bar it would be ...? ... There is nothing wrong with scalping thou...

you can’t fail if you don’t quit
JDavda

Member Since Jun 18, 2013  8 posts Jignesh (JDavda) Nov 07 at 18:22
Your post has made me take a trip down memory lane. I did have some good trades in GBPUSD.

Didn't trade it much in 2014 because I was mostly shorting the euro. I got a great short in the middle of 2015 that I rode down to 1.50. In 2016 I wanted to short 1.50 but then Brexit happened. It hit 1.50 during the vote but the pair was fluctuating over 150 pips per minute. So I didn't take that trade. I had losses in 2016 trying to short the run up to Brexit.

I don't know what happened in 2017. To this day that rally makes little sense to me. Luckily I didn't trade that pair much at that time, I would have been on the wrong side of that for sure. The last good trade I had in the pair was a short in April 2018 that I held till July I think... These are probably my best trades, but again, have had many losing trades in between trying to catch that trend and chasing big pip moves.

Probably should trade GBPUSD more.. it certainly trends better than EURUSD. I find a low risk position can often be put on at the European open or on a bounce at the NY open which could turn out to be a runner.

If you don't stay humble, the market will make you humble
tacet

Member Since Mar 10, 2019  41 posts tacet Nov 08 at 14:01
JDavda posted:
.. it certainly trends better than EURUSD.


EURUSD is still in a wonderful trend... since 2018...



Attachments:

you can’t fail if you don’t quit
JDavda

Member Since Jun 18, 2013  8 posts Jignesh (JDavda) Nov 10 at 11:13
That chart looks good in hindsight but momentum is slowing in a major way. Which makes it hard to stick with a directional bias with conviction. There was more money to be had there on carry than direction.

I'm speculating that swing traders didn't do well in that pair. Anybody that sold breaks since the second half of 2018 would probably have gotten stopped out or faked out.


Attachments:

If you don't stay humble, the market will make you humble
tacet

Member Since Mar 10, 2019  41 posts tacet Nov 10 at 11:47
the carry here is in the right direction smiley I've just started a new thread in the General (FA: the holy grail of trend trading) - contribute pls. We have to remember that FA > TA...cool

you can’t fail if you don’t quit
Professional4X

Member Since Jan 05, 2016  1134 posts Professional4X Nov 10 at 21:59
tacet posted:
the carry here is in the right direction smiley I've just started a new thread in the General (FA: the holy grail of trend trading) - contribute pls. We have to remember that FA > TA...cool


FA = Fundamental Analysis
TA = Technical Analysis

FA and TA should Both be given equal consideration for analysis, with a primary focus on Risk Management for the account.

To focus only on FA and ignore the information from TA is a massive mistake and is one of many contributing factors to people losing money in the markets.

To be profitable an investor needs to consider ALL available information and manage their risks appropriately.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
rickyb

Member Since Oct 23, 2014  52 posts rickyb Nov 11 at 02:49
there is always some major pair combination that is in trend. my best was 800 pips with a 40 pip stop loss.in 3 weeks. gbp/cad. always like to be like a surfer;fall of with many small stop losses and catch a big one.;that pays for losses.one trick i do is once getting a trend is get to breakeven after 100 pips.i think the trick is using previous daily;weekly; and monthly lows or highs as stop losses.

BluePanther

Member Since Jan 25, 2010  1266 posts Matt (BluePanther) Nov 11 at 08:37
tacet posted:
Outside major pairs my tops:




Still holds the title of this thread!


To be profitable an investor needs to consider ALL available information and manage their risks appropriately.

a) As Michael Steinhart stated in a 2004 speech, among his top trading rules:

4/Make good decisions even with incomplete information.
It is a good idea to gather as much information as possible before entering any single trade, but the available information will never be complete or perfect. Investors need to be trained to work on the facts, figure out what does matter, and take the right trading decisions before all others gain awareness of the situation. They then need to have the courage to put sufficient money behind the trade to achieve a meaningful outcome.

b) 3. Have a Flexible Analysis Approach:
https://optimusfutures.com/tradeblog/archives/3-tips-to-trading-unpredictable-markets

c) Stack the odds in your favor:
https://dailypriceaction.com/blog/is-forex-trading-gambling/

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EURUSD 1.10832 GBPUSD 1.31838
USDJPY 108.533 USDCAD 1.32415

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.