School of Pimpology - page 154
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Your whole post made so much sense to me, and I only became profitable when I switched to 1hr/15min!
I find the live room crazy too and I have lots a lot of pips jumping into something on impulse that I don't follow. Now I just switch off unless they are talking about something I am interested in and it works.
I hope you stay!
Nicola
I knew it as soon as I went on there - I was getting caught up with the frenzy of those guys wanting to be in every trade going and ended up making trades I shouldn't have and making trades based on other people's decisions. I could feel myself going backwards fast into that black hole again.
I also learned that while I was profitable using the M15/M5 combination, I was having a hard time deciding which squiggly line to ignore and which was going to be a retracement or a rally - way, way too stressful for me. I have now moved over to trading M15 and it is more profitable, more consistent (even with GBPJPY) and definitely less stressful. For a guy that just celebrated his 3rd 20th birthday this June, I can do without that thank you. So now I am trading H1 and M15 in addition to the Daily and am looking at changing the Daily for H4 and then having another separate account for the Weekly.
BE PATIENT AND LET THE MARKET COME TO YOU
Strat
Since this post, I have joined the fx500Club but again you won't see me - I'm just in the background - still learning and earning.Monday, Monday
Dear Pipsters,
What a nice little morning.....
WTI 40.09 - 39.71 +38
Swissie 1.1162 - 1.1189 +27
Gold 849.50 - 845.9 +36
CABLE 1.5048 - 1.4982 +66
eurogbp - 8902 - 8898 +5 (stopped out after moving s/l)
gby/jpy - order at 135.50 moved s/l to 135.30 but looking to hold lower
total this morning +172 and excludes my jpy trade.
Turned to 60m chart for jpy and lets see.
Happy pipping
Monday Rockie
p.s. since posting earlier I took cable short below DP 5m - closed for +4 pips. Closed gbpjpy trade after 15m retracement at 134.75 +75 pips. It will go lower but I am now finished for the day closing total +251 pips. A fine start to the week.
Queen of the Pips
Nichola,
As Sting sang "I was watching you"
Very well done today - obviously those brains are working great - I wish I had some!
Great job earning you a new moniker "Queen of the Pips"
Nichola,
As Sting sang "I was watching you"
Very well done today - obviously those brains are working great - I wish I had some!
Great job earning you a new moniker "Queen of the Pips"Hey Nicola,
If you are not too busy in the absence of domestic help do post your results for the rest of the pipsters to view.
All the best,
Rockie
How do I thank you Zak?
Dan & Zak ... I don't have the words to say thank you.
When I joined I was hoping for 500 pips a week and I thought that was GREAT!
Here is my score for today which speaks for itself. If I ever have a child I may have to call it DanZak (wait isn't that a curry?) anyway ...
...
USDJPY short +238
EURJPY short +184
EURUSD short +47
GBPJPY short +296
WTI short +249
OIL short +238
TOTAL 1252 pips
Can I say what a difference having a couple of screens has made to my results? Before if I was in more than 2 trades I was a wreck trying to manage both. Now I can sit back, look at the big picture, put in my targets and wait patiently for the pips.
THANK YOU THANK YOU THANK YOU!
I am thinking about having a celebration drink but I am so giddy I may pass out. My hands are still shaking.
Nicola
PS - For anyone who doesn't know me I started trading in November for the first time. I found Zak on Youtube and started copying his trades which led me to the live room. The rest is history.
A sound start to the year
Hi All
I thought I would share the trades I took this morning in my first session of the year (I was unable to join in last week due to my 'proper' job).
GBPUSD short 1 5030.5 to 1 4870.5 +60
GBPJPY short 1 3539.1 to 1 3498.2 +40 (50% off)
1 3508.4 +31 (50%) +35
EURUSD short 1 3361.6 to 1 3360.0 -
despite going well over 20 pips, I moved stop to break even, which was hit
total (am session only) +95
Unfortunately my 'proper' job prevented me joining the pm session until it was almost over, so I didn't take any further trades today.
I know this is an embarrassingly small haul, having seen the results of many of the fx500 club when they signed off after the US open, but as I have asked Rockie to keep posting his weekly (and accumulated for the year) totals here, I couldn't keep mine a secret.
By the way my target (in my plan, with objectives set out for the whole year) is 60 pips a day (I know Zak thinks that is so last year, and we should have progressed to a 250 pips a day now, not 250 a week, which was OK last year), so whilst comparatively modest, I am a very very contented fx500 club member
Well done to everyone, looking forward to the morning
ps Thanks Rockie & Strato, I stayed focussed on what I was doing this morning and didn't monitor any of the 'chat' - I read Dan & Zaks reports, marked up my charts accordingly, with one ear on what they were saying
pps Nicola you are absolutely amazing
Paul
It probably looks lkike I didn't have any losers. I should have had two but I was stubborn.
I entered EURUSD and one of the oil trades at completely the wrong time, selling after a lot of red. Usual reason, got carried away with the excitement of the room, thought the trade would run away without me, etc. I had to watch them go down a lot of pips before they turned around and I even moved my stop. I was just lucky today but I won't always be. TG for the trend!
Queen of the Pips - don't forget us knaves!
Nicola,
For those of us that are new and those of us that are still struggling, would you mind re-living each trade as you saw it, what made you take it, when you knew to take profit, what your emotions were, what was going through your mind, how you used the information from Dan and Zak etc?
Personally, I'm so distracted and intent on listening to what Dan and Zak have to say (sorry james, don't trade indices), that I end up missing the trades or entering them too late when the "meat" has gone and I'm only picking up the bones.
Rock on
Strat
Good Morning all.
A fantastic start to the week yesterday with all the Yen pairs behaving nicely for us.
GBPJPY did hit the 132.00 final target so hoping that a few of you managed to stay in from the 135.50 level.
Well done especially to Nicola who scooped a whopping 1200 pips in total. Congratulation to you. Very well done indeed.
Onto this mornings session we are now witnessing so consolidation after the falls and with USDCHF looking like she wants to push a little higher, have not got the uniform correlation between my 6 pairs that I like to see.
It looks like a push past 1.1225 might see this back at 1.1600 at some point.
USDJPY-Very weak but does need to retrace a bit. Nothing but red on 4hr chart for over a week so would like to see a pullback before taking any action on this one.
GBPJPY-Looks set to take on the 130.00 level again which is bizzarre considering this pair once traded at 500.00!
I won't be looking to trade this pair this morning and still have a tiny part-position from yesterday. Again, needs a pullback.
EURJPY-Just a huge huge wall of red on 4hr chart this can not realistically fall anymore. Rather darinly we managed to get 100 out of this yesterday afternoon, so well done to those who traded this.
USDCHF-Looks likely to push higher IF the resistance at 1.2525 gives way. Best of a bad bunch for me this a.m. but everything in correct order.
Pay attention to Dan's synopsis on EURUSD to add weight to this conclusion.
GBPCHF-Channelling in a 60-70 pip range at the moment. Looks appealling IF breaking down through 1.6490 so watch for that.
EURCHF-Looks pretty weak and a break below yesterday's low of 1.4845 would see this lower. Looks good on 4hr chart too if it takes out the long-term support at around the .30-.35 level.
to summarize....USDCHF will probably not head up IF the other swiss pairs fall.
I am more interested in a short GBPCHF and EURCHF, through 1.6490 and 1.4850 respectively.
Swiss pairs look more appealling this morning. forget the Yens
Have a good morning.
Zak