What are some good ways to make 100+ pips per month consistently?

[bagovino]

Well entries and exits are upto ones own discretion. I personally use MACD divergence, Candlestick patterns and Pivot bounces or break outs. I also use stochs, rsi, currency confirmation and dollar index. Most importantly is my gut feeling when I take all these readings into accout.

Sorry to be vague, but there is no cut and dry method. Thats why 2 people can use the same system, one makes money and one loses money!

Billy

[mcboogs]

Billy,

I have to say that I'm surprised you ever manage to take a trade with that many things to look at. IMO, it also seems like a waste of time. In dealing just with the indicators - if you properly apply just one of those indicators they will tell you enough that you won't need the other ones, for example, you can use MACD, RSI, or Stochastics in different ways to confirm things like oversold and overbought levels, so why use them all at once?

If you're looking to get involved near a PP break or bounce [which seems to be the case], trying to check out candlestick patterns, and a multitude of indicators is excessive... Use your PP levels as a guideline for entry area and focus on learning the ins and outs of one or two indicators or patterns to confirm your decision. Since indicators and patterns can often contradict each other, or simply tell you the same thing, I believe it's counter productive to have too much involved.


But if looking at that many things works for you, more power to you, but that is an awfully cluttered chart!

[sccz97]

Originally Posted by popoola

4 lots straddle the euro on nfm day will give you more than 100 pips a month. but be careful though

your comment suggests to me that you don't pay attention to the market much. nfp is a crap figure to trade now and has been the much of last year. Straddling nfp stopped becoming profitable more than a year ago and why bother taking a losing trade when you can just get in on the whole move

[initialsBB]

Originally Posted by bagovino

Pivots are by far THE BEST way to trade. I started using a pivot system on 1/9/06 (10days). I only trade 2 to 4 hours a night (London session open). So far I have 260 pips made. Not to mention the market has been VERY unpredictable as of late. I placed 18 trades total. 16 winners, 1 loss, 1 break even. So thats 94% winning trades!

I dont know many people with stats like that! Do yourself a favor and study all you can on pivots!

Billy

"Big Pippn', Makin' G's"!

One mistake that beginners often make is to get too excited over some new technique and indicator they just discovered that would make them rich in no time and that makes 95% winners, just to get dissapointed after the first drawdown .Then they discover some new indicator and start that cycle all over again. I can recognize myself in this 6 months ago. Traders that have been using PP for years say they have 65%-75% success, which means if you are new, your percentage will get lower.
Back to the question of this thread, i think it's wrong to search for guarantee for 100 pips/month. Psychological reassurance comes when you stick to certain method long enough to execute it flawlessly, without hesitation, and when you develop positive expecation from it. I've seen many traders that intelectually know certain strategy is profitable, yet they still execute it unconsistently, probably because they don't have personal experience with it, so they didn't develop positive expectation.

[bagovino]

Thanks for the bashing fella's.... but I have to say... This is and has been working for me! Not only that, but I had mentoring from someone VERY high up!!! So go ahead and disregard my advice and resume with you 50/50 trades! Best of luck to you all... The 90% of which I make a nice living off!!!





Billy

[mcboogs]

bagovino -

No one bashed you. It's okay, breathe.... In and out. Slowly. Relax.

[boldrik2]

Originally Posted by initialsBB

One mistake that beginners often make is to get too excited over some new technique and indicator they just discovered that would make them rich in no time and that makes 95% winners, just to get dissapointed after the first drawdown .Then they discover some new indicator and start that cycle all over again. I can recognize myself in this 6 months ago. Traders that have been using PP for years say they have 65%-75% success, which means if you are new, your percentage will get lower.
Back to the question of this thread, i think it's wrong to search for guarantee for 100 pips/month. Psychological reassurance comes when you stick to certain method long enough to execute it flawlessly, without hesitation, and when you develop positive expecation from it. I've seen many traders that intelectually know certain strategy is profitable, yet they still execute it unconsistently, probably because they don't have personal experience with it, so they didn't develop positive expectation.

All support for pivot. I also recently started to use them and I will just say that my goal is 100 pips per week, so far I have trading live account 3 weeks with pivot and result is 1. +137 2. +47 3.+95 on demo account from 3.700 $ now 6.011 $

pivot pivot pivot

[boldrik2]

And again pivot pivot pivot