School of Pimpology - page 170
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Bye Rock, love ya - miss ya already
Rockdrive - Early retirement.
Dear Pipsters,
I have now been trading full time for just over 12 months. I have completed a review of my performance over that time and have concluded that while I am making pips, I am not making enough pips. My average monthly income is less than 25% of my former income so Mrs Rock and I have therefore agreed that I shall retire from the arena and once more join the corporate boardroom.
This early retirement is something I hope is short lived. With pressures for income and high expenditure I have to be realistic and honest with myself. This has been a great community and I have enjoyed myself enormously. Thanks for all of your help Dan, Zak and James.
I'll poke my nose in now and again, and shall continue to trade a longer term book, but this will be more for beer money than paying the mortgage.
All the best pipsters and thank you for allowing me to share my successes and my failures. Good luck to you all.
Retiring RockdriveOh Rockie
I'm so, so sorry to hear that, I can't quite believe it. We both found Dan and Zak at the same time and had such great laughs in the old live room and on the threads when we were learning along with Rocwell, Bloom, Gooner et al. You went on to do so well, far out-smarting us blonde bimbo's, and always keeping me on my toes and in my place.
I've always loved all your posts - win or lose you have always been such an inspiration and steady hand and made me laugh at myself through all the trials and tribulations.
I hope you can survive back in the land of grey suits (or maybe wetsuits). It drives me completely nuts, trading is my love, my passion and the day I do it full time (even if it means eating beans on toast for months) will not come a day too soon.
So I wish you all the very best Sir Rock. You truly are a legend in every sense of the word and you will be sorely missed. There will always be a little piece missing from the day from now on, like putting your shoes on the wrong foot. I feel like I've lost my "sole" mate.
Best wishes Rock, bon chance and if it's ok I will keep in touch by email.
RS
xx
PS I was two undressed to think clearly earlier but, if you wont a very good partytiem seccyterry I am very doog at speling and tie pin, um thaiping and filing (my nails) and lots other things too so just let me no. But iym not cheap.
PPS Oh Rock - I've got the Boredroom blues for you already.
Weekly results
Hans
I am so pleased for you. Now keep focussed as your record now proves that you can do this.
Nicloa,you really are an inspiration & testament to the fx500 club strategy. Keep it up & keep on posting here too.
I haven't performed at all well this week:
Monday O pips win -50 pips loss 1 trade
Tuesday 77 -198 8 trades
Thursday 0 -122 4 trades
Friday 50 -102 3 trades
total week 302 -472 (total -170) 18 trades
last week 561 -311 (total +3) 25 trades
year 862 -783 (total -167) 43 trades
have a great week next week, I'm back on 9th
Paul
Rockdrive - will not be forgotten
May I echo all the previous posts. Rock you will be missed.
I truely hope you will keep in touch and with the pressure off, sudddenly find you are making so many pips with no pressure to pay the mortgage, that your return to the corporate world is only brief
Thanks for everything within all your posts
take care
Paul
Hi Luky,
Shouldn't that be spelt "Lucky". You could safely ignore the commodities at the moment for correlation. Dow Jones took over the CEO position for a while towards the end of last year. But, has since eased off.
Just trade what you see.Actually, I have convinced myself that Dow is leading the way again. For EUR/USD at least.
Let's keep an eye on it and see if I'm right.
Hi guys.
I follow the following:
GBP:USD
EUR:USD
USD:CHF
USD:JPN
EUR:JPN
EUR:CHF
EUR:GBP
GBP:JPN
USD:AUD
USD:CAD
USD:NZD
DOW
FTSE
WTI
GOLD
Now, I am thinking that is too many. Although split into 4 groups I just cannot process all the info to trade them properly.
So, my question, to the extreme is; Is it possible to make a living trading just 1 pair, and if so is there one that is technically better to trade than the others?
With 3 teachers in the room they can all focuss on different pairs. Dan with the majors, Zac with the Yens and CHF's, James with the indices. But as a home trader can you really cover them all?
Lots of Good Wishes Rockdrive ...
I was really sad to read this ... You are going to be very missed!
I was realy helped by reading your insights on the strategy on this thread.
I hope that the longer term trading makes a big difference to your profit margin. Wishing you a short (but happy) retirement and lots more pips ...
Nicola
Rockdrive - Early retirement.
Dear Pipsters,
I have now been trading full time for just over 12 months. I have completed a review of my performance over that time and have concluded that while I am making pips, I am not making enough pips. My average monthly income is less than 25% of my former income so Mrs Rock and I have therefore agreed that I shall retire from the arena and once more join the corporate boardroom.
This early retirement is something I hope is short lived. With pressures for income and high expenditure I have to be realistic and honest with myself. This has been a great community and I have enjoyed myself enormously. Thanks for all of your help Dan, Zak and James.
I'll poke my nose in now and again, and shall continue to trade a longer term book, but this will be more for beer money than paying the mortgage.
All the best pipsters and thank you for allowing me to share my successes and my failures. Good luck to you all.
Retiring RockdriveChoices choices
That is a lot of charts to watch
More than Zak and Dan watch each!
You can have them all available and marked up and then drop the window down but you don't have to watch all of them or trade the same ones each day.
I look at all of them each morning and see which ones I like and I mark trendlines and stuff. Then I wait for the boys notes and I see which ones are not really tradeable and drop them down to make more room for the others that might have nice setups. They are still there if something comes up but I am not staring at it all day and so not tempted into a dumb trade just because something looks like it is making a big move! Not getting tempted into bad setups is a big part of my strategy!
If there are a couple you really like to trade then watch them all day no matter what. I watch oil and the indices all day no matter what and maybe GBPJPY, USDJPY and maybe USDCHF. Just the ones I like.
I hide Gold so I cannot be tempted into giving up pips, but I keep it available to look at when I want to see what Euro might do or something. Not that it seems to have much impact lately
Nicola
Hi guys.
I follow the following:
GBP:USD
EUR:USD
USD:CHF
USD:JPN
EUR:JPN
EUR:CHF
EUR:GBP
GBP:JPN
USD:AUD
USD:CAD
USD:NZD
DOW
FTSE
WTI
GOLD
Now, I am thinking that is too many. Although split into 4 groups I just cannot process all the info to trade them properly.
So, my question, to the extreme is; Is it possible to make a living trading just 1 pair, and if so is there one that is technically better to trade than the others?
With 3 teachers in the room they can all focuss on different pairs. Dan with the majors, Zac with the Yens and CHF's, James with the indices. But as a home trader can you really cover them all?how many?
Hi guys.
I follow the following:
GBP:USD
EUR:USD
USD:CHF
USD:JPN
EUR:JPN
EUR:CHF
EUR:GBP
GBP:JPN
USD:AUD
USD:CAD
USD:NZD
DOW
FTSE
WTI
GOLD
Now, I am thinking that is too many. Although split into 4 groups I just cannot process all the info to trade them properly.
So, my question, to the extreme is; Is it possible to make a living trading just 1 pair, and if so is there one that is technically better to trade than the others?
With 3 teachers in the room they can all focuss on different pairs. Dan with the majors, Zac with the Yens and CHF's, James with the indices. But as a home trader can you really cover them all?Hi Stuart
I would say you can easily track this many pairs and more and trade them, if you are working on a 4hour time frame or greater.
Some traders trade currencies, indices, commodities (many metals, gas, corn) as well as individual company shares and bonds too.
Others concentrate on just one (cable, or Barclays). Both make good money.
You need to find what you are comfortable with (timeframe, number of and type of trades you want to keep an eye on and number of trades you want to be in minute by minute to overnight / to over the weekend etc)
I hope this makes sense & is of help
best
Paul
Daily trades
There's some big, juicy trades being lined up on the Daily charts. Just about every pair is at or very near their 20s.
Professional Traders vs Amateurs
Here's a quote from the book, "Techniques of Tape Reading" , by Vadym Graifer and Christopher Schumacher - "Professionals take a trade when they are comfortable with the risk, while amateurs do it when they like the potential profit."