At last someone with a brain in this thread ... If you see some of these posters have over a thousand posts it says a lot about what ET has become ...
The link works with me. Perhaps try this way: OANDA FXMessage » FXTrade - Currency Trading with OANDA » Experienced Traders - PRO » Carry trading vs volatility trading
Probably due to profits/ losses of a day are determined by the number of points movements and lot/ contract size, an average range in terms of points would determine the potential range/ average/ maximum of profits/ losses for the day.
Could you be saying that Range is used as a benchmark by some scalpers to determing their performance....2 x range....etc....
Afetr learning and studying this interesting issue (at least to me), I haven't got all clear/ firm answers yet, except more questions (that I might never know the answers). However, I think some variables would greatly impact the issue, such as price level (a daily range 100 pips at price 1.5000 is 0.7%, but 100 pips at price 1.0000 is 1%). Within the context of this thread, I believe the 300 pips per month (at current price level) as mentioned by others would be already a very good result indeed (particularly after compounding), if achieved consitently (with reasonably small DD). I would guess, for anything over a threshold say 300 pips per month (or else), there could be an effect (such as DD, win-rate, costs, etc.) of diminishing returns (regardless style/ method/ system?) applicable. (Probably only the almighty marketmakers would understand how to do it so efficiently. LOL)
Thanks. The results from gurus like you and others (on oanda site) that have achieved or/ and targeted a 1% daily return on equity would be completely amazing to me.
Thanks for the above input from them (and many others as well), I've been following these advices. They are my gurus on ET.