School of Pimpology - page 166
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Hi Larry
Great fun (were you there for cocktails and singing on that unforgetable Friday afternoon?).
RSYou used to have cocktails and sing on a friday afternoon? ...
Well I am definately hoping for a 123 on that one! (Its my birthday on Friday)
latest template
Hi fxpimp and other guru,
Could you please forward me the latest template and relevant indicators? I have checked the first few post and found that different guru using different templates. I am confused now.
Thank you
Trades per week
Hi guys.
I wondered if I could put a quick straw poll to you, to ask, on average how many trades you take per week?
Currently I seem to be making 1 per day. Probably not enough but I'm still trying to get my head around the strategies.
Thanks a lot.
Dan is THE man
Hello Larry,
Dan is Dan Armitage of "The London Open". Dan and Zak used to work together at MarketBytes.com and decided to go it alone. They have since formed fx500 club where, on a subscription basis, they trade live the London and NY opens.
In addition, they tell you what they are trading and why and also provide on going education on their work and strategies. Their strategy works from M5 to Yearly and any time frame in between.
If it sounds like I am "plugging" fx500, Dan and Zak, I AM - there is no better FX trading service out there anywhere - I know - I've been round the blocks as they say. And NO, I don't get paid for this recommendation, nobody does - they do not have affiliate schemes - which further shows their creditability.
You can contact Zak at zak@fx500club.com and visit their website at http://www.fx500club.com/index.html
Until I got extra screens and I was only working off one and trying to follow the live room and the chat at the same time on one screen I think that was all I did.
I probably take 4 to 10 trades a day but they are similar pairs so easier to do. For example I will trade cable and GBPJPY together, USDCAD and CADJPY together, OIL and WTI together, etc and I enter and cut them at the same time which makes it easier. I watch them together so I may as well trade them together.
1 good trade a day can make you super rich!
Hi guys.
I wondered if I could put a quick straw poll to you, to ask, on average how many trades you take per week?
Currently I seem to be making 1 per day. Probably not enough but I'm still trying to get my head around the strategies.
Thanks a lot.Happy Birthday
You used to have cocktails and sing on a friday afternoon? ... Well I am definately hoping for a 123 on that one! (Its my birthday on Friday)
Hi Nicola
That was when Zak was more of a wild child than he is now, running his own show down in the steamy depths of the Boiler Room. Friday afternoon Pimp Show was great waiting for profit taking, but if it was quiet we spent more time laughing, although did make a few pips.
It was a Skype chat room with loads of Smilies, some of which were cocktails, beers, people singing and dancing, musical notes etc. When we had had a good week Gooner and Bloom used to dish out the drinks while Zak sang "dollar yen, dollar yen riding through the glen", and other such gems while posting all the different Smilies.
Anyway, Happy Birthday for Friday, maybe you could get Zak to sing Happy Birthday to you. Hope you have a great day.
RS
Hello RS
OMG that sounds like so much FUN. I can just imagine Zac singing "dollar yen dollar yen"
Vive Le Pimp, may he always be a wild child!
The wild ride crude is on today I may need a cocktail myself soon!
Hi Nicola
That was when Zak was more of a wild child than he is now, running his own show down in the steamy depths of the Boiler Room. Friday afternoon Pimp Show was great waiting for profit taking, but if it was quiet we spent more time laughing, although did make a few pips.
It was a Skype chat room with loads of Smilies, some of which were cocktails, beers, people singing and dancing, musical notes etc. When we had had a good week Gooner and Bloom used to dish out the drinks while Zak sang "dollar yen, dollar yen riding through the glen", and other such gems while posting all the different Smilies.
Anyway, Happy Birthday for Friday, maybe you could get Zak to sing Happy Birthday to you. Hope you have a great day.
RSHi Diva
Yes sometimes I do ... but only off the 15min chart (nothing lower) only if it bouncing off resistance and only if the CCI is at the top pointing down I don't always wait for it to cross the 0.
It doesn't always work but I don't lose much that way. I sometimes get out for breakeven if it is just going to sit there and channel for a while.
Doesn't work on the 5min, I have the pip losses to prove it.
Nicola
PS Thanks for the compliment. When I started I read these threads and your posts and I thought - "See ... there are women doing well at this, I want to be like Diva!"Wow, and thank you for the compliment. I was doing really well trading 5min, but I'm not quite carrying everything over to the 15min and 1hr. I'm not sure why it's not really coming together for me on the longer time frames. I do plan to keep at them.
Hopefully, I'll have the 1hr/15min strategy down as well as I work the 5min and then eventually work my way up to the 4hr strategy.
Thanks for your response and keep up the good work!
Happy pipping,
Update on Daily trades
AUDUSD banging it's head against resistance, the 20 & 50 so balance of profits taken at 0.6636 for 126 pips making 386 pips in total for AUDUSD counter trade.
Sell order in place at 0.6590, a couple of pips below the low of the last bar.
CHFJPY banging it's head against resistance and the 20 with a couple of reversal bars so balance of profits taken at 78.30 for 144 pips making 408 pips in total for CHFJPY counter trade.
Sell order in place at 77.90, a couple of pips below the spinning top.
EURJPY held back by 20 and with EURUSD looking weak, balance of profits taken at 118.64 for 307 pips making 680 pips in total for EURJPY counter trade.
EURUSD firmly rejected by previous high and 20 so balance of profits taken at 1.3125 for 172 pips making 469 pips in total for EURUSD counter trade.
Sell order in place at 1.3100, one pip below the dark cloud cover bar.
GBPJPY partial profits taken at 20 at 128.87 for 677 pips. Close now just below 20 but as yet, not showing signs of rejection so last position at BE SL still running.
GBPUSD partial profit taken at 1.4300 for 620 pips and balance taken at close of small shooting star at 1.4185 for 505 pips for a total of 1125 pips.
Sell order in place at 1.4163.
USDCAD - don't like the look of the big hammer bouncing off the Weekly 20 so partial profits taken at 1.2179 for 141 pips. SL moved to BE so balance is a free trade. Not entirely convinced this move is finished yet though but with $ strength coming back it's best to be safe.
USDCHF partial profit taken at doji reversal bar at 1.1372 for 193 pips and balance taken at 1.1540 for 25 pips making 218 pips in total. Screwed up as I should have taken full profit at reversal doji bouncing off 20, 50 support AND Weekly 20. If I had been thinking straight I would also have placed a buy order above the doji reversal bar. Another session in front of the mirror!
USDJPY Long from 90.10, a couple of pips above spinning top - I anticipated a close above the 20 so I went for it.
Not bad for counter trend trades - let's get back with the trend and make some REAL pips!
Rock on,
Strat
Good Morning
Good morning all. I hope you are well.
Yesterday saw that little break of the 4hr 50sma at 89.60 on USDJPY so should remain quite bid IF it manages to hold the 90.00 area.
15m 20ema has crossed south through the 15m 50sma and not overly appealling until it breaks 90.20. Best to sit out for the moment until something develops.
GBPJPY-Actually looking pretty weak IF it falls through 60m 50sma at 127.00 but not a lot of room to downside with crossing 4hr 20&50 into the positive.
Best to wait for clearer direction in USDJPY before committing to anything here.
EURJPY-Looks like a double-top on the 60m chart and if EURUSD falls through 1.3100 level I would expect to see this pair lower.
Look for break 117.50 IF USDJPY fails to hold 90.00.
CHFJPY-A tiny bit oversold on 60m CCI but a break of pivot could well see this lower this morning. Any order below 77.50 could well get filled now the support line on 15m has been broken.
Summary.....
Best 2 would be EURJPY and CHFJPY. Keep eyes open for breaks of given levels.
More to follow, have a great day.
Zak