School of Pimpology - page 16
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Oh man missed some great moves the Euro was great but managed to grab 20 form the swiss - watching GU closely now... Thanks Pimp
GU had been very contrarian for the last few days for reasons only known to itself. I think I will stear clear until we see some obvious direction.
What timezone are you in Cindy?
G-Man
USDJPY Too
Same time as my EUR trade earlier I also took a USDJPY short.
Some reversal action so closed for +12.
G-Man
Timezone? I'm in Australia. Yeah I'm just watching the 15 min chart for any obvious signs of a reversal cause it seems I missed the others apart from the CHF I took.
Nice trade on the Eur by the way I saw that on the 5 but thought it looked a bit late but as you say fortune favours the brave - well done.
Might have been a more obvious earlier entry on that one off the 15 min using Pimps reversal trade guidelines but I got up too late!
Timezone? I'm in Australia. Yeah I'm just watching the 15 min chart for any obvious signs of a reversal cause it seems I missed the others apart from the CHF I took.
Nice trade on the Eur by the way I saw that on the 5 but thought it looked a bit late but as you say fortune favours the brave - well done.
Might have been a more obvious earlier entry on that one off the 15 min using Pimps reversal trade guidelines but I got up too late!If you're is OZ wouldn't you have been up to get in nicely on the USDJPY?
I thought it was only us Poms who have to get up to catch the early moves!
G-Man
Template
On the subject of very large template files and slow running, I noticed that on the templates Pimp has given us there are 27 MA's and 8 seperate CCI windows.
Presumably based on the set up he has sent us this isn't correct?
G-Man
Dark Destroyer
Some have asked why the FX markets have been poor the last couple of days, and if we are to believe in my philosophy of Crude, the chairman, the black dragon, the dark lord, the beast, the Guv'nor, being our guiding star then maybe this 4hr chart might shed some light.
He is currently sat at a critical level at $124.00, which is the weekly 20ema.
There is a lot of support here but a lot of sellers still too, so things are not as clear cut as they were.
When the price is following the trend the speed is much faster. During a consolidation period generally the price action is much slower.
Therefore with no real direction in Crude, there is no real action on Gold and therefore no real action for me in the currency pairs.
It's Correct
On the subject of very large template files and slow running, I noticed that on the templates Pimp has given us there are 27 MA's and 8 seperate CCI windows.
Presumably based on the set up he has sent us this isn't correct?
G-ManG-Man,
For the sake of not confusing anybody I have only covered the shorter term.
The template also covers the longer term strategy which I will come onto later.
In these not-so-trending markets are we really overly interested in the daily charts? Look at GBPUSD. Where's it been going?
I'm not interested in longer-term at the moment, but my 4hr charts include the daily and weekly ma's and my daily will incorperate my monthly also for later when we have some clearer direction and some nice trends.
We will introduce this to the group and I will be suggesting ideas for running 2 books. A short-term and a longer-term book just to help maximize profits further.
Please appriciate that there are a lot of novices out there and this was primarily aimed at those people, so to keep things as simple as possible to start with would be the best policy.
I hope that clears it up.
Hi Pimp,
Of course that is no problem. I just wondered why there were so many when the original details only looked for 8.
G-Man
Couple of trades from this morning.
The Euro would be well worth a go long if it pulls back to the 15m 20 at 156.80, which has now crossed the 60m 20. The Swissie also. She has quite a bit of red on the 15m chart but a pullback to 1.0360,with a couple of green Heikens might pave the way for further shorting opportunities.
The two trades there for the offering did produce 120 pips in total, but I am a little bit sad that cable once again slipped through my fingers.
I wonder what the U.S session will bring?
You Are Legend
I must say, I am overwhelmed by the postive response from this thread. Really, it brings a tear to my eye knowing that for some of you guy who never traded before, that this really could be the start of a new chapter in your book of life.
I'm quite a humble person at heart but I am so glad that what I am doing is appreciated by most of you.
................................What can I say FX Pimp? I'm blown away by your strategy, but more so by your willingness to help. It's great having you with us in Cako's Boiler Room. And always up for a giggle too.
Well, the title of this post says it all.
YOU ARE LEGEND
WE ARE YOUR LEGACY (or Pip Demons, I guess)