School of Pimpology - page 3
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Statement
I'd like to make it clear from the start that I am not affiliated with any company or paid service, and will never ask you for anything other than your determination and commitment in making this happen for yourself.
Yes I used to work for a company and a few readers know who the company was.
Yes there was an involvement and yes I was on the payroll, but as my very first post makes quite clear I am no longer, contrary to what Mr T may say over on FF.
It just so happens that I enjoy this free time to trade more and with this comes free time to help others. Is altruism not a word featuring much in the FX world? Well it rates quite highly in mine, and I for one know how tough these markets are when you have limited funds and limited knowledge.
Although I am not in a habit of repeating myself repeating myself I would like to make it Crystal clear that I work for nobody. I don't have my own business either.
That's all I think I need to say on the subject.
For anyone who would like the template and all those not yet in receipt of it please send me an email, not a private message. I'm a little confused when I get a p.m AND an email from the same person and since I cannot attach it to a private message it just makes life a tad easier for me. Many thanks.
USD Strength ???
This morning we all saw some Dollar weakness coming into the market.
Has there been a sudden change in sentiment?
Who knows. Gold is retracing, more than it is falling and the same applies to Crude. However, if these two do continue to drop, adding some je ne c'est quoi to the Dollar I'd be interested in a little go on the Swissie.
Remember the rules about the fast 7CCI? We need to wait for a retracement and for the M.A's to hold, then when the 7 crosses back from negative to positive there could be an opportunity.
Gold AND Crude need to continue to fall through their respective support levels, but worth keeping an eye on.
Great Stuff!!!
Great Stuff Man. Thank's for sharing with Us
One secret of success in life is for a man to be ready for his opportunit when it comes.
Benjamin Disraeli
Thanks!
Thanks and great work!
FX P, you're doing a very commendable thing here by trying to help others! I wouldlike to thank you for all the knowledge share!
Yes I used to work for a company and a few readers know who the company was.
Yes there was an involvement and yes I was on the payroll, but as my very first post makes quite clear I am no longer, contrary to what Mr T may say over on FF.
It just so happens that I enjoy this free time to trade more and with this comes free time to help others. Is altruism not a word featuring much in the FX world? Well it rates quite highly in mine, and I for one know how tough these markets are when you have limited funds and limited knowledge.
Although I am not in a habit of repeating myself repeating myself I would like to make it Crystal clear that I work for nobody. I don't have my own business either.
That's all I think I need to say on the subject.
For anyone who would like the template and all those not yet in receipt of it please send me an email, not a private message. I'm a little confused when I get a p.m AND an email from the same person and since I cannot attach it to a private message it just makes life a tad easier for me. Many thanks.Greetings once more Captain Pi(m)p,
Spitfire412 reporting for duty! I'd like to add my appreciation for the knowledge you so freely share!!
Crude fell almost 2000 pips last week so a small pullback to the 60m 50 at least could be on the cards to $131.50 from the current $129.50 IF the pivot holds.
Well to be honest there has not been a lot of great action this afternoon. Nothing that really fits my criteria anyway.
Anyone patient enough to have waited for the USDCHF would have been rewarded with a very poor 20 pips. Not something I am overly pleased about steering you in the direction of, but I can't get it 100% correct for the 50 pointers every time.
The Crude trade from this morning was the main player.
I cannot trade Crude first thing unfortunately, so no pips for me on that but anyone fortunate enough to have followed the post and managed to get on could've made 250 pips on that single trade.
On the schooling front, it's nice to see that many of you have voted the thread to be useful. Please keep this up, so I know I am not wasting my time.
I realise it won't be for everyone and appreciate it might be basic to some more experienced traders
It's pretty good though (so I've been told), and will only get better. Please help me help you. Tell me what you want to know about my strategy and I will do my best.
I won't do an evening report tonight as the Crude and Gold are not really offerring much impetus to the FX markets, but IF they do manage to find some support AND cable can break the 60m 50 on the upside, then there might be a little 1-2-3 play there.
I'll talk about the 1-2-3 in my next post as it's suddenly dawned on me that I haven't covered it yet.
I'd just like to say a big HELLO to Piphacker Midesign & Frantacech. I hope you enjoy the reading material and hope it helps your trading.
Have a good day.
20ema ??? Why 20 ?
After having been around the block looking at numerous all singing all dancing systems and e.a's and holy grails I have come to the conclusion that there is not a lot on the market place that hasn't been done a thousand times before.
Most of it is re-branded, a lot of it is repackaged, and most of it is absolute crap.
One of the oldest indicators in the book is the 20 moving average.
This can be simple, exponential, weighted. There are lots of ways to calculate it but I prefer exponential.
Why does it work?
Well as the 20 moving average is a standard tool in most chartists toolboxes there are millions of traders worldwide using it.
Whether they be working from a 5m chart, a 60m chart, a daily chart of a monthly.
There are banking systems in place which place orders on the bounce of 20 moving averages.
Most modern day trader use the 20 and almost all of the old school.
Here's where it gets interesting. With this strategy. I incorperate a 20 moving average from 3 time frames on the one chart.
When I have my own screens displaying lets say a 5m chart and a 15m chart, I can see the 20 moving average from 6 timeframes.
This gives me a great indication of the likely direction of the market without referring to daily and weekly charts.
I attach 2 snap-shots.
The first shows a 20 moving average on 4 different charts, each from a different timeframe. There's a 5m a 15m a 60m and a 4hr chart.
See how well the 20 supports or resists the price action in most cases.
Now look at the second shot, showing the same 4 timeframes, but each with 3 additional 20 moving averages from higer timeframes. When these moving averages are bunched together, there is huge potential.
Think about it. If my 5m 20 is sat on my 15m 20 which sat on my 60m 20 which is sat on my 4hr, there are players from accross the globe who specialize in their own particular timeframe all placing orders or all pimping money into the market.
The weight and volume of capital from the 5m boys in town to the position guys who play 4hr only is all pouring in and driving the price.
Now that is a weapon !!
template size reduced
Cap Fx P, I am the same person to whom you emailed the template:)
I am attaching the template and the indicators with size reduced.
Well to be honest there has not been a lot of great action this afternoon. Nothing that really fits my criteria anyway.
Anyone patient enough to have waited for the USDCHF would have been rewarded with a very poor 20 pips. Not something I am overly pleased about steering you in the direction of, but I can't get it 100% correct for the 50 pointers every time.
The Crude trade from this morning was the main player.
I cannot trade Crude first thing unfortunately, so no pips for me on that but anyone fortunate enough to have followed the post and managed to get on could've made 250 pips on that single trade.
On the schooling front, it's nice to see that many of you have voted the thread to be useful. Please keep this up, so I know I am not wasting my time.
I realise it won't be for everyone and appreciate it might be basic to some more experienced traders
It's pretty good though (so I've been told), and will only get better. Please help me help you. Tell me what you want to know about my strategy and I will do my best.
I won't do an evening report tonight as the Crude and Gold are not really offerring much impetus to the FX markets, but IF they do manage to find some support AND cable can break the 60m 50 on the upside, then there might be a little 1-2-3 play there.
I'll talk about the 1-2-3 in my next post as it's suddenly dawned on me that I haven't covered it yet.
I'd just like to say a big HELLO to Piphacker Midesign & Frantacech. I hope you enjoy the reading material and hope it helps your trading.
Have a good day.Some really great stuff here !!! Thanks for sharing...YOU DU MAN!!!!!