School of Pimpology - page 84
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My Worst Day Ever
Today is my worst day ever with -117 pips.
Well I was down 45 by mid morning and stayed on to make them back. Take a look at the charts below (just scroll to the right). I won't be too hard on myself
because we had gold strength and dollar strength at the same time which messed things up.
What's the moral of the story?
When down, take time out, go to the gym or do something else then come back with a different mindset.
Don't go looking for trades, let them come to you.
Finally, I know I'm great at giving advice here and not following it myself. I just hope that some of you will take heed and learn from my mistakes.
A very sad Honest Bill.
In the spirit of honesty, today was my worst day by far too. When correlation goes out the window from now on, I'm logging off and doing something else. Today being a big news day should have been a clue too. I'll leave it to the experienced people on days like this and marvel at your genius.
So,
- no more news day / broken correlation trading
- no more exotic pairs trading (you know who you are; starts with GBP..., doesn't end with ...USD)
- manage one at most 2 trades at a time
- get out with +10 instead of -anything
- manage stoplosses better (platform generated ones do not count, they get spiked)
Honest Spitfire
The daily pivot for Gold has managed to scramble above the weekly which is positive, but price is wedged between the two. Needs to break either 770 for short or 780 for long.
Cheeky little break of the pivot at $780 could have kick-started your day to a quick 100 pips here.
Unlucky to the guys taking the hits this morning.
Just goes to show how much of a mental element there is in trading when nothing is clear-cut.
I read a good quote once that said "if you cannot discipline yourself you will be disciplined by others"
Sadly the 'others' in this case refers to those who took your bets.
Maybe I am a reasonably good trader. Maybe I am a reasonably good teacher, but the discipline side is something only you can teach yourself.
I recommend anyone read this if they want to learn about patience
Tomorrow's another day, guys. Chins up !
$96 ???
Looks like Crude is having a go.
This looks like it has potential to $96 IF the weekly S1 gives way.
Could well made a run to the daily pivot
Trading platform closed for today, lol ! I hope none of you got burned today. Lost 50 pips today and deserved every single pip in the minus.
GU 4Hr signal Long
Mr FX pimp,
GU 4Hr Signal Long
What do you think Sir, I'm long GU base on this chart TP 1.8000 (161%)
here the chart of GU Please Advise if I'm Wrong...
Thanks and regards,
Mymarahaba.
Good morning all.
My last day of messing around and shopping and popping here, popping there.
Might even travel today, but definately tomorrow.
Will be great to catch up with the guys in Spain and see what's going on.
So no, I haven't done anything with the 4hr set-ups. I haven't done any further teaching. I haven't done a lot other than say farewell to old friends over a cold beer or 10, or go shopping for sexy swimwear and factor 50 !
Swiftly moving on, we did get a decent break of the weekly S2 on the crude, only not eacly when we wanted it.
Anyone with an order at $94.00, just above the weekly S2 would have been rewarded with 70 odd pips.
Notice where the 5m 20 and 15m 20 were on the chart I posted last night.
Not really close enough to the 60m 20 to support the price, but with no decent break anyway, you should have not taken the trade.
This morning was a different story though. 5m/15m 20's had both crossed the 60m 20 and the 5m was at 45 degrees and almost level with the weekly S2 when the break occured. Remember what we say about trajectory.
Onto this morning, I wonder if this S2 will now hold this price and we'll get a break of the 60m 50sma?
Really needs to break $95 upside.
Not interested in downside above the pivot.
Gold is just a mess, although it looks like a short from $780 as we speak......
I must say that the currencies don't look a lot better than Gold and I am tempted to just watch once again.
Many people got burnt yesterday trying to force the markets and if it don't look right, it probably isn't
GU 4Hr signal Long
Hi FX Pimp,
Here the chart of GU
Bullish signal for this GU
see the PA ..... what do you think Mr.Fxpimp
Rgds,
mymarahaba
GU 4Hr signal Long
Dear FX Pimp,
Thanks a lot for your advise
Best Regards,
MY Marahaba