Pips do not equal profits

First of all, here is a YouTube clip of my favourite satirists John Bird and John Fortune - enjoy.

Now down to business. Two traders trade twice and finish with a negative points total of -50 pips.

Trader 1 puts on 10 standard lots for both trades:

Trade	Lots	Pips	P&L
1	10	+30	+3,000
2	10	-80	-8,000
		-50	-5,000

Trader 2 (yours truly) titrates the lot size to keep the risk constant:

Trade	Lots	Pips	P&L
1	16	+30	+4,800
2	4	-80	-3,200
		-50	+1,600

"Vary the lot size to keep the percentage capital-at-risk constant"

Regards
Morty Sill
London