The London Open - page 34
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Difficult trading again today.
We paper traded today as we were not sure what direction the dollar is moving. With oil unpredictable especially in the afternoon (hope no one got caught out) and the DJI falling off like it keeps doing, it's very difficult to confidently trade long with the dollar.
Best trades were the USD/CHF long, as it created a higher low on the 15 min chart this morning & moved through the daily 50 M/A for a great long trade.
Later on we spotted a long GOLD trade as it broke through the daily trend line & 50 M/A.
Hopefully Gold will keep out of this broken trend line & stay long for next week. Hopefully we will see direction for a weak dollar & therefore get the direction right for the currencies.
Enjoying working with you all,
Simon.
Gold long, FTSE short, GBPUSD long, Crude short !
What a Pimptastic day after a slow start.
Might have a lay-in tomorrow and get all geared-up for the Pimp-Show.
Hear that Cash fella is gonna be getting down and Durti with some Pimpology in the Live Room around 1 ish. I hear the necessities are that you come prepared with sequinned undies, whisky and 1 minute charts.
Sounds like a bit of me !
Good old Gold. Saving the FX world by breaking out. I lookforward to tomorrow. Going for a 500 pip day to make up for a few quiet ones !
Hi all
Been dabbling with the markets for the past year or 2...won some and of course lost some!! Been following this thread since it began over on FF and it has inspired new confidence into me. Got MT4 set up with the CCI`s and MA`s, its all slowly coming together but not completly sank in yet! I would love to check out the Pimp-Show to see what all the Pimpology is all about! Let me know if there is room in the room ? Would love to start working with you all
Regards
D
Ok, my hat (and hats) off to you Pimp. Even in consolidating markets you profit...
For myself, I have been following a very restrictive line (adviced by most) this week. The reason I post so late is that I played the GBPCHF retracement for a nice 45 pips profit. It covers the loss of 25 on the USDJPY on Monday.
Such a strange week!! I haven't found any sound entries on any pairs as long as I have been watching the pairs. Of course, I have made 2 trades even though I shouldnt. The result: 20 pips:-p.
Looking forward to the pip show tomorrow
.
PS, Dan, excellent commentary on the markets. You make it sound easy to say something sound on the markets. I know it takes talent/experience to do that. Definently worth x-fold what we're paying for this.
cheers,
Marius
Morning All,
Well a big sigh of relief goes out today. With Gold out in the open air we can start looking for the recovery and some dizzy new heights, maybe.
Back to $1000 ? Maybe EURUSD back at 1.60 ? Don't push it, Pimp.
Well done Marius for your cheeky pips on GBPCHF. I was waiting forever for it to stop and it never did.
Gold has managed to give-back half of yesterdays gains. My 4hr 20ma has now crossed my daily 20ema, which is a very positive. For your information, it's also crossing the WEEKLY 20ema, which will also be crossed by the daily 20 in the next few days. There is NO numbers out from the States today, but with my 4hr CCI retracing back toward the 0.0, I will be interested in having another go later.
Crude seems to be headed down and I wonder what's going on here and how it will affect the Gold market.
Gareth called it upto $140 and I said I liked it to $127. Looks like there's a possibility that we were both right. If it retraces back to $134 and turns again then maybe it will smash through the daily 20 at $131.50.
So, if Crude does fall then that may hinder the Gold a bit but the correlation between the 2 is not something you should get overly concerned about for short-term trades.
Today on the curerencies it looks as if EUR has found a little bit of support. The 60m 20ema is at 1.5508 and the 4hr 20ema is at 1.5505, with the 15m 20ema leading the way at 1.5511. You know me ant my organisation skills. I love to see these set ups with the m.a's in the correct order. It's very similar to the technicals of GBPUSD yesterday, which is now some 150pips higher.
IF the above mentioned m.a's can start creeping up toward the daily 20 i'd be very interested in taking a position (if Gold continues too)
Has EURJPY found some support after the little scare yesterday?
It's recovered 75% of it's losses, which is an indication of overall Yen weakness. Couple that with both EURUSD & USDJPY finding some support late on it was no surprise really.
Remember the analogy ? If West Ham can beat Man Utd and Man Utd can beat Barcelona, then West Ham should be able to beat Barcelona.
The same is true with currencies when using it vs the Dollar as your benchmark.
So if Euro can beat Dollar and Dollar can beat Yen then Euro can beat Yen.
Capice ?
Nothing else looking overly great.
Pimp Show tickets are available from all good record-shops !!
HaHaHa!!! lots of new ppl here!!! good to see that you're creating new profiles on the forum to get poor new trader to become your customers!!! What a shame, writting that you help ppl for free etc...!!! if your service was that good in building better confidence and take good trades, why don't real ppl join the forum and participate to the thread, why would you have to create fake profiles to make it look so good??? SHAME ON YOU!!! I started to participate to this thread and you just ignore ppl's question, you don't help them, but you do send PM's to get them to join you 'successful service'. Well I say BULL*HIT!!!!!!
SHAME ON YOU!!!
S
HaHaHa!!! lots of new ppl here!!! good to see that you're creating new profiles on the forum to get poor new trader to become your customers!!! What a shame, writting that you help ppl for free etc...!!! if your service was that good in building better confidence and take good trades, why don't real ppl join the forum and participate to the thread, why would you have to create fake profiles to make it look so good??? SHAME ON YOU!!! I started to participate to this thread and you just ignore ppl's question, you don't help them, but you do send PM's to get them to join you 'successful service'. Well I say BULL*HIT!!!!!! SHAME ON YOU!!! S
Hi Pipermeister,
Sorry, but I don't understand where you are coming from.......I am a novice trader and picked up on another forum at FF The London Open Thread. I went back to the beginning of the forum and read it front to back. I set up my charts in the way it was laid out, found channel commodity indicator on my charting package, worked out the different MA's levels on charts and followed the advice set out. The stuff thats here is not meant to be difficult and far from adding loads of parameters to charts, the methodology is really nice and simple. I have only been trading since Jan 2008. I nearly trashed my account in the first month, lost my way and nearly quit trading.
I went on a couple of trading courses, which didn;t help me cos I could not see the method. The method I found on the forex factory forum by chance, and I ahve not looked back.
This week I have achieved my first ever 200 pip week. OK not huge compared to some, but for me a massive milestone. I even lost 124 pips on Tuesday as well, but still achieved a turnaround, by following the MA's and CCI's, not jumping in to trades, and just being plain patient. Who knows what next week will bring, but for the moment I am enjoying this success.
If you think its BS, you are entitled to your opinion. I do not share your view. Trading is not easy as I have found myself. Please, please go back through the thread and look at the set up of 15 minutes, 1 hour, 4 hour and daily charts. It will take some time to do but have a go and see how they look. Paper trade or use demo account to get used to the CCI's and when and where to enter trades. Ask questions, but please don't insult people on the thread. That's just wrong.
A small group of traders using this thread are new. I think the general term is newbies. I don't know enough to bs, I am only executing a method I came across and it seems to work for me. Other methods and strategies are in use, I know I have tried a number of them....
Hope this helps, but if not just take a look at the posts and the charts. I for example hit 118 pips on a gold move yesterday. Brilliant...would never have traded it before, but following MA strategy and CCI crosses at 884 and exited at nearly 896. Thanks very much.
Thats no bs.
All the best,
Rockdrive
Pipermeister,
All these people have only signed up to this website to read this thread, hence there 'freshman' status.
Bloom
errrrrm Pipmeister. You have got it the wrong way round. We actually promote FXFisherman thread in the room to new members.
The room is not open in the afternoon so we hang-out here and gossip.
Did I not mention EURUSD or EURJPY this morning on this very thread ?
If 150 free pips is not good enough then perhaps you are in the wrong game, Sir. Did I not talk about the Gold upto 900 bucks on a previous post? Where is it now $900.60 at the time of writing. Do I not talk about the correlation between the various pairs?
Do I charge you for this information?
With regard to your questions not being answered. I have scrolled back 5 or more pages of this thread and cannot see that you have asked a question.
If you have a valid question for the group then one of us will answer it, but we're not going to trade for you.
You must do as everybody else has done and learn the strategy, back test it on every tim frame on very currency pair until you are comfortable with it. Do not risk money until you have a good level of confidence with it. Even get vhands-trade and re-run some trades in real-time x32 and practise that way, but don't come here with the attitude or you will get pimped, good and proper.
Case dismissed.
Pipermeister
What questions do you have?
Jeremy