School of Pimpology - page 102
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I'm so Bored
This morning - with headache after too much Pimp Sangria and beer! Not much going on.....Directionless and no price action. All the traders staying in bed until the NFP comes out.....or they have just gone home for an early weekend.
Bored Rockie
p.s. thanks Bill - humbling words. with thanks
Crude
Here's a nice little one. Waited 4 hours for some direction, then I couldn't get into gft to take crude up to 1hr20ma. It appears gft were fixing a quote board problem I had been having today. An easy +60 missed.
I'd have been above my target for the day.
Now it was against the trend, but a pullback up was due.
A few seats remaining
I have a couple of seats remaining for the NFP PimpShow.
Get in touch if you want them. The show starts in an hour
Bill
Good trade this morning I took +85 pips out of that move.
how do you get the different CCI indicators to overlay on top of each other. Is it a special CCi indicator or not? If it is could you post it for us?
Thanks alot
Dave
cci
Bill
Good trade this morning I took +85 pips out of that move.
how do you get the different CCI indicators to overlay on top of each other. Is it a special CCi indicator or not? If it is could you post it for us?
Thanks alot
DaveDave,
Just drag the CCI from the navigator window into the window you require it in.
Morning afternoon evening.
This morning coulod well be quiet but with Gold having fallen a long way yesterday I would be looking for a long position IF it can break above 60m 20 and pivot at $847 with Oil holding.
How do you define a break?
Do you define it by a certain amount of pips beyond the 60 min 20 or something else?
When does support/resistance become a break?
Cheers
Monkeying About
seems today I lacked this main ingredient - sung by Take That. Have a little patience! I exited crude for -5 and within 5 minutes 100+ pips would have been available. Got on with my house work - a bit of dusting and cleaning!
Came in an joined the new toy which FxMonkey have gotten and played in a live room with a lot of other boys and girls - It was most excellent as Bill and Ted would say!! I am sure others will be letting you know more but I thought it was very cool indeed.
After some mad spikes with the release of the NFP data, crude finally get its act together, a lovely set up, I enter at 94 flat and then watch it drop quickly, and then just sit there. Blimey, with all the fluctuations thought it was gonna go back up and with the price action not going down further decided to take profit +30. Blow me again - off the Prince of Darkness goes and drops 150 pips in a flash. Nevermind. One thing is certain. There are pips available everyday. So reader I ended up with a final score this week of 752. A most pleasing outcome.
Well done Dan, Le Pimp, Kung Fu Panda and Monkey. Brilliant stuff and I look forward to seeing what you have for your next installment.
Housemaid Rockie
p.s. I thought I looked rather cool doing my cleaning in Pimps patented spandex briefs. Totally radical
seems today I lacked this main ingredient - sung by Take That. Have a little patience! I exited crude for -5 and within 5 minutes 100+ pips would have been available. Got on with my house work - a bit of dusting and cleaning!
Came in an joined the new toy which FxMonkey have gotten and played in a live room with a lot of other boys and girls - It was most excellent as Bill and Ted would say!! I am sure others will be letting you know more but I thought it was very cool indeed.
After some mad spikes with the release of the NFP data, crude finally get its act together, a lovely set up, I enter at 94 flat and then watch it drop quickly, and then just sit there. Blimey, with all the fluctuations thought it was gonna go back up and with the price action not going down further decided to take profit +30. Blow me again - off the Prince of Darkness goes and drops 150 pips in a flash. Nevermind. One thing is certain. There are pips available everyday. So reader I ended up with a final score this week of 752. A most pleasing outcome.
Well done Dan, Le Pimp, Kung Fu Panda and Monkey. Brilliant stuff and I look forward to seeing what you have for your next installment.
Housemaid Rockie
p.s. I thought I looked rather cool doing my cleaning in Pimps patented spandex briefs. Totally radicalLOL. How can I get a pair of those?
Stuff
Hey Rockie and Bill,
Thanks for the feedback. Ireland eh, Bill, now you have to HAVE the luck of the Irish! I'm originally from North West Yorkshire in England.
Have been trading stocks, futures, commodities on and off since 1992. I have spent $thousands on books, courses, seminars, systems, methods etc, you name it and I've probably seen it and done it. Have searched many and various Forums and followed their so called profitable systems and methods only to find they were optimised and therefore not consistent.Have even developed my own systems and indicators which again were not consistent. Finally came across The London Open and then The School of Pimpology.
Wow, to think I paid $thousands to sharks for worthless information, methods and systems when there is Zak who is sharing, what to me, is the most consistently profitable simple method ever and doing it for free! I also have a couple of pro Forex traders as mentors but they trade on their guts and seat of the pants stuff - no real method or system, just experience - buy when it's going up and sell when it's going down - they make it so easy. I have traded on their coat tails and made a couple of quid/euros/bucks (and lost) but there is no satisfaction in that.
Bill, it seems you and I suffer from the same psychological stuff, especially the paralysis by analysis. I can see a trade set up but can't pull the trigger because I can find a thousand reasons why it won't work. I have been told over and over many times to Nike It (Just do it). I envy the new kids coming in who haven't got this psycho baggage and just take this method on face value and make it work.
Another of my problems, is that I think I can do better and then proceed to take a successful system/method, refine it, tweak it and eventually screw it up. I do this even though I know the guy is making $millions with it while I'm losing! What I have done though, is take the information from Zak's templates and set my own charts up for two reasons. One is that the template is MTF for all time frames and therefore has all the indicators and MAs in it for each time frame which are all performing calculations whether they are visible or not and therefore are eating up CPU and slowing things down (even though I have the latest GHz, GB etc, etc). When you add that template to D1, H4, H1, M15 & M5 to eight or ten currency pairs, things run so slow that even George W Bush can keep up! The second reason is that I use a black background which studies have shown is restful on the eyes whereas a white screen causes severe eyestrain.
No changing the method this time though. No more of that. I recognise this as a very profitable and consistent method backed up by the most patient and benevolent guy since St Benedict himself AND his new Chat Room.
I fully understand the CCIs, MAs, time frames and most of their applications and have even done 2 profitable trades in succession which is a first for me! Also, these were in my time frame, PDT, where the volume is low so I'm pretty chuffed.
I now need to trade where the big volume is i.e., London times, especially the overlap with NY. That will mean turning my day upside down and trading from midnight on. This will be even more difficult as I am doing this "on the side", without my wife's knowledge. I promised her, after losing over $200K trading Futures and Commodities in the 90s, that I wouldn't trade again. Since I travel worldwide a lot with my business, I plan to trade the London/NY hours when the time zone allows it. Then, after successfully increasing my account, I will come clean with her and all will be out in the open and we will live happily ever after.
Sorry for the rant - markets are dead today.
Once again, Zak, thank you for sharing and caring - you are truly an exceptional human being.
Cheers,
Robert
Counter trend trades and not going against CCI 252
Hey Senor Zak,
Bill's Crude trade on Post # 1016 on Page 102 is an example of what I was trying to say in my emails to you.
Other than "yes, it's been going down and due for a pull back", how do we know to take such a trade which is counter to all our indicators? Some of these counter trend trades are impulse waves rather than corrective waves and therefore produce more pips than the "trend" trades. Is there a way to identify this or is it just from experience and really knowing and understanding each instrument you trade?
Now on to the CCI 252 and your statements "Never go against the CCI 252" and "Never fight the CCI 252".
In this Crude trade, the CCI 252 has been negative and under zero for a while confirming the "short" side. If we follow your advice, we would never ever take this long, counter trend trade.
I know that all rules are there to be bent and every counter trend trade carries with it significantly more risk.
However, my paralysis analysis also tells me that even though the CCI 252 is negative and below zero, it is RISING with prices getting shallower and bottoming. Similar to the MACD, where the best entries are at maximum displacement in the opposite direction, do you look for the CCI 252 to be rising from an extreme low and then where it crosses -150 or -100 do you look to go long, counter to the trend?
And, when divergence is present, the CCI 252 could be rising while prices are still falling or levelling off bringing us on to my other subject of CCI Divergence in my emails. Normally, divergence supported by other signals and indicators, is a good indicator, except of course when the trend is strong.
If only I could start doing and stop thinking! Please sort me out O Master of the Pips!
Muchas grassy ass!
Robert