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Just looking for 20 / 30 pips a day

Discussion in 'Forex Company Comparisons' started by Sunshine Everyday, Mar 16, 2010.

  1. Sunshine Everyday

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    ** I posted this on the beginners are originally. That's what happens when you rush I guess! **

    Hi All,

    I hope that you can help.
    I am looking for a change of lifestyle.
    Until recently, I have been a hammer and tongs type trader, bashing out the profits on a day to day basis, taking losses when my arrogance gained control, but overall making a considerable income and enjoy the life it afforded me.

    I now need a change of pace.

    In short, I would love to put a fictional book idea that has been bouncing around my head, onto paper.

    However, because of my commitments and future plans, I cannot walk away from the income alltogether.

    So, I write to ask for advice.

    To achieve my goals, I need only make 20/30 pips a day (or $10,000) a week.
    We all know 20/30 pips is easily achieveable, but it's knowing where the safest place to find it will be, when I don't have Reuters, Bloomberg and all the other regalia around me, that I currently enjoy today.

    It's been suggested that I try TESS (Trading Edge Strategy Software), by Keith Cotterill.
    Apparently, the software has an extremely high success rate, although the company behind it seems to lack conviction when selling their product. (Numerous websites, none actually offer the software for sale!)

    I doubt this is the only software worthy of note, if indeed it does do what it's supposed to, so I write now to ask advice.

    Who offers the best market indicator software, baring in mind the gains I am looking for?

    Please only post genuine advice people, it's hard enough having to sieve through the bogus email and software out there, without your compatriates throwing a curve ball! :)
     
  2. cowmadagan

    cowmadagan Sergeant

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    I've been dreaming of a world without spam, and your posts in the Spammers Hall of Shame! Guess whose dream will be realized first?
     
  3. Sunshine Everyday

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    Hi cowmadagan,

    I am genuinely not spamming, I would even give out my current work email address (not in the public domain of course), just to prove it.

    I am just looking for some advice. I have looked at various market indicator software packages and squawk services, but I do not have the time to try and test them.

    I am not promoting any software packages, I am genuinely asking for some advice.
     
  4. cowmadagan

    cowmadagan Sergeant

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    Ok...so you're looking for a moderate profit of twenty to thirty pips per day and making 10K (I presume USD) per week. That means that at a max of thirty per day, that's a max of 150 per week (reliably making 10K) and since a single standard lot with 30 pips brings in 300USD and five times that is 1500US, that means you're using seven to ten STANDARD lots per day in your achievement of 20/30 pips per day.

    Did you know that if you have 200K USD then you are in the top 1% of the world as far as wealth?

    hmm...maybe just your presentation is off.

    How's spamming paying these days?
     
  5. Sunshine Everyday

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    Hi Cowmadagan,

    I currently have personal accounts on IG, Barcap and City Index.
    The total value of those accounts is 165,000 + USD.

    Making 20 / 30 pips a day

    6 Contracts (6 x $10 per CFD or Lot) x 20 pips = $1200 usd
    6 contracts (6 x $10 per CFD or Lot) x 30 pips = $1800 usd

    Add that to another 2 contracts or lots a day on the FTSE and I have the 10,000 USD I am looking for.

    I am not spamming.
    Note that I am not promoting anything Cowmadagan, I am simply asking a question.

    If it's not in you to answer, then say so.

    You and I do not need to waste time battling out a mute point.
    Spammers promote something, I have nothing to promote!

    I am only asking which, in the opinion of other professionals, is the best market indicator software.
     
    #5 Sunshine Everyday, Mar 16, 2010
    Last edited: Mar 16, 2010
  6. cowmadagan

    cowmadagan Sergeant

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    ok...you seem persistent enough, and I see you responding to others (which is outside the MO of spammers) but you should know that when you say you've been "making a considerable income and enjoy the life it afforded me [sic]" and then say that you anticipate making 10K per week, which I might add is almost half of the GDP per capita in the US, it's suspect. This is especially true since you give explicit profit targets and a system you intend on trying.
    This is an industry filled with irrational bets in the hopes of lotto winnings.
    We don't need any one filling web surfers with ideas that what you're proposing is possible without capitalization beyond being able to buy a house outright (without a mortgage).
    If you've been successful at forex trading, then you must have the knowledge of economics to know that since the vast majority can't buy a house without a mortgage the world economy is in the mess it is.

    Furthermore, if you want a simple answer of 'has anyone heard of', why don't you post it in the has anyone heard of thread here, like you're supposed to.

    PS To explicitly answer your question, which I admit isn't an explicit endorsement or promotion, presented by the statement, "It's been suggested that I try TESS (Trading Edge Strategy Software), by Keith Cotterill."
    No, I haven't tried it. I don't know whether it can or cannot produce 20/30 pips per day. That said, I also know that this site has processes and sections for giving authority to claims of a software or system's successes. Last I know that you aren't following them if that's what you're doing.
     
    #6 cowmadagan, Mar 16, 2010
    Last edited: Mar 16, 2010
  7. Sunshine Everyday

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    Hi Cowmadagan,

    Understood and you have a fair point.

    I am not a regular user of forums, the opposite in fact, but I think that's obvious now.
    Yes, I completely understand the scales and yes I could have worded my original post better.

    What I have told you is true.
    I make my money through FX trading, mixed with Equities and ocassionally bonds.
    Some of it is traded in lots, some CFD's and a tiny proportion through spread betting.

    Whilst I realise now that the statement about only looking for 10k a week, could be read the wrong way, I honestly did not mean to achieve that.
    I guess I did not think about it enough before hand.

    I will take your direction on this.

    I can trade reasonable lot sizes, which will allow me to generate the income, but I want to dramatically reduce the risk, without needing to spend the hours reading through the new casts and squawk feeds.
     
  8. cowmadagan

    cowmadagan Sergeant

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    hmm...and also...since there are precisely 52 weeks in a year, that would mean that you expect to make $520 000 USD per year...yet you have time to post on this site.
    Hmm....on second thought, if you're willing to pay me 2.5% per year as an advisor, I not only retract and apologize for anything you've found offensive among my posts, but you will have my complete loyalty as well in doing so. (That offer is not sarcasm)

    Sorry...Hi.
     
  9. Sunshine Everyday

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    Hi Cowmadagan,

    If your advice delivers results, I would hesitate to concede 2.5%

    I am off this week, hence the time to post.
    I would prefer to email any further info, I am sure you understand why.

    My intention is to trade for around 44 weeks, and not to trade for 16 hours a day (Which is a regular day at present).
    The current situation and the plan going forward, are two totally different scenario's.

    I would genuinely love to pen the fictional book idea I have.
    Whether it will amount to anything, is another story entirely.
    But you only get one chance at life, so I figure now is a good a time as any.

    If I can stick to the plan I mention, it may well be possible to achieve a dream. That said, I may well suceed in continuing to trade, but the rest may be a complete waste of time.
     
  10. cowmadagan

    cowmadagan Sergeant

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    Naw...if your expectation is for 10K/week then that means you are already pushing a substantial fraction of that number, and what I meant was that I'll be your advisor for 2.5% of your profit. Rather than editing my original post I'm clarifying it here.
     

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