The London Open - page 5
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Good morning all,
Well GBPUSD looked very heavy this morning and perfect break with the 84CCI down and the 21CCI breaking the 0.00 for the entry point...Most went short at 1.9620 on the cross with others on the break of support. 4Hr looks interesting in cable as well..
GBPJPY and GBPCHf have been put on the bench so the novices can get up to speed (will introduce back again on monday)but many still took the break of the 84CCI on both and traded them down with GBP weakness. Great to see the team being so proactive and making so many points...GBPJPY fell 150 pips..GBPCHf fell 100... Not bad even if u took 50%.
With GBPCHF falling this hindered USDCHF on the upside which in effect halted EURUSD from falling this am. We decided as agroup to look at EURJPY and USDJPY..EURJPY breaking support from 162.30 to 161.75... Cheeky 50 pips...USDJPY falling from 105.00 to 55 for another cheeky few pips...
Tom and a few others picked up on the crude break as well from 123.00 for 60 to 65 pips...Great money management and well banked because the 4hr 200ma showed support.
Apologies with the tech problem but glad you all managed your book excellently well... Great morning and bring on this afternoon.
I will be posting before midday for the wrap each day..
I hope you are all well...
Cheers
Dan007
10:00:32 {rocwell} that was one of the easiest 85 pip gain in a while for me
10:10:57 {Monkey_Boy} 242 on two trades brilliant
13:53 {bob} have realised how to use 15min chart today after a comment from you today dan suddenly clicked in
10:16:37 {Geoff} made 124 pips so far this week BUT missed out on 167 because I bottled it, came out early and did’t exit using cci. Will use cci all the time in future
10:17:15 {Lisa} 113 pips yesterday and still my first week
10:25:30 {Bloom} Lets hope for 12250. Still in from Monday, up 211 pips. Good call Monkey Boy.
10:25:37 {John} made 100 on dow yesterday monkey
10:31:20 {hemal} banked 80 gbpchf closed half
10:32:05 {rocwell} just the 85
} missed the boat today only 23pips going to leave it today to get my head right
10:42:58 {stuey} 18 pips another bad day
10:43:09 {FXcutter} 20 pips
10:43:09 {Geoff} +33 today on ej but came out early when trichet started to speak.+ 125 for week so far
10:43:16 {stuey} +18
10:43:23 {bob} missed todays fx trades but still short dow and dax
10:43:23 {Peter_W} No trades today. Missed the cable trade.
10:43:29 {Durti_Ca$h} 251 AND STILL ROLLING !
10:43:23 {Bloom} 0 pips today, I was like a rabbit in the headlights.
10:43:28 {nickmead} 35 pips EuroJpy
10:43:30 {Bill_K} +63 Short £/$
10:43:30 {Simon} 48 PIPS ON GBP/USD & STILL IN!
10:43:30 {Nicholas} +63 today but I was away alot
10:43:41 {gary555} +24 u/chf + 12 u/cad
10:43:43 {vikki} +30
10:43:45 {david_day} only 11 today
10:43:46 {barry} + 40 + 40 e/y £/y still on dow
10:43:47 {Tonyxx} I have got 80points today and still have some positions open
10:43:49 {Johnh} 46 0n g/y
10:43:54 {hemal} +90
10:44:01 {perry} +1!!! jumped in to late and had to wait on GBP/USD
10:44:23 {Justin_Jay} +42 on GBPUSD +76 on GBPJPY, but I trade half of my position on this pair, so +38. Unfortunatelly, lost 39 pips on two stupid trades (that shouldn’t happen) on USDCHF.So overall +41 pips. But still have an open GBPCHF position with around 60 pips right now
10:44:29 {gareth} 79 PTS TODAY 294 ROLLING FOR WEEK NO LOSSES
10:44:34 {Stefan} +18 missed the boat a bit- still in the money on the dow - very happy
10:44:46 {erakehi} 27p on gbp/chf trouble to come in the room
10:44:46 {barry} the day I stopped being greedy was the day I started making money
10:44:48 {andy} no trades today but had 45 pips on gold yes
terday afternoon plus another 90 on DOW
10:45:00 {FXcutter} 20 pips for me
10:45:59 {Tonyxx} I got 500 pips on the long term one, thanks
10:46:13 {Gazza} +182 pips, all out.
10:46:23 {Errol} L8tr guys took 10pips all good
10:46:25 {Monkey_Boy} 500 pips tony great work what were you trading!!
10:47:09 {chris} 58 pips today
10:47:12 {Gazza} +182, on £$, euryen, gbpjpy and Xau
10:47:35 {Durti_Ca$h} GREAT RECOVER FROM YEST !!! BRILLIANT
10:47:35 {Simon} WELL DONE!
10:47:56 {Gazza} See you guys tomorro, and thanks !!
10:49:21 {Durti_Ca$h} BEST MORNING FOR ME
Hi all
Great effort..Not everyone traded today and quite a few newbie's learning the strategy which is fine... Always good to sit on your hands (if u have any doubts) and learn... We teach u along the way..
Send theFXpimp@hotmail.com an email for info for next mondays session...Thursday is fully booked...
Dan007
Hey Dan007
You can run, but you can't hide!
Shame about FF but we will follow your excellent thread here, hope you keep posting as we have learnt so much from you from analyzing your charts - entries, exits, targets, mentality - everything a not quite newbie, but not quite there "trader" needs to progress.
Our confidence is riding high for next week with everything we have absorbed from you and your fellow postees so we thank you massively and genuinely for that.
Hope FXPimp adds his banter too - does he keep his pips tin under his bed by any chance? Sounds like it's a bit full to me!
So thanks Dan and we are still with you. Please keep up your excellent analysis.
Rollingstone
Aka Scorpion and Fran from FF
If I have seen further, I have done so by standing on the shoulders of giants.
Hi Dan007
Your charts of winning trades are great to see and are proving really helpful. As we all know, in the real world not all trades do as they are meant to do and some go the wrong way, some mess around and flirt with the gain line and some sit in loss before deciding what to do.
Of course we set stops, but could you please share your wisdom on when to bail out of a trade before hitting the stop and when to let it run with the patience of waiting for the market to do what you thought it would do in the first place. Anyone who is serious about making money knows that money management is key to being successful, if you make more on winning trades than you lose on losing trades you will make money!
So, as entries are high probability in the first place - 60m set-up strong with related pairs showing the same trend, CCI 84 and CCI 21 showing entry - losing trades are less likely, but some do mess around and cross back through the 60m 20ma on the 15m chart which you have taught us acts as support and resistance. There is such a fine balance between setting stops at a technical level and giving the trade room to get going, and taking a loss because the trade simply doesn't go the way you expected it to go.
So I guess what I am trying to ask is when does a trade stop being a valid trade and you should cut your losses and move onto the next chart for analysis?
Many thanks in anticipation and thank you for sharing your knowledge so freely.
PS A note to anyone else following this thread who might wonder where we have come from! - we have been following Dan's analysis on a different thread since the beginning of May but have now switched over to this thread so are picking up where we left off. We had a set-up similar to Dan's using CCIs before he started posting but hadn't quite got the mix right. Dan kindness in sharing his knowledge has made the difference for us between missing trades and now starting to have the confidence of taking them (and winning!).
We are two people wholly unconnected to Dan and his set-up but would highly recommend his methods to anyone who seriously wants to make money from trading - they really do work.
Best regards,
Rollingstone (Scorpion)
Hi Dan007
Seems like you are being missed over on FF - have mentioned that they can all find you here so hope to get this thread moving with some further input.
Regards,
Rollingstone
The boys are back in town, the boys are back in towwwwwwwwwn !!
Nothing's going to hold the Pimp down for too long, and if the fools at FF seem to think we have some hidden agenda then they lose, not us. We can post here just as easily, and continue to offer help to the guys that really want it
Here's my theory. Certain companies out there are charging $4000 for a certain bit of software, which is just a re-packaged 21&34sma system over 4 time-frames.
These guys are paying a lot of money to advertise their 20pips a day 'holy-grail' and I wonder if there is something along the lines of jealousy at play when reading that some of our mob are pulling-in 200+ a day just from learning the strategies that are available here for FREE.
So exactly what are the ethics of the people running that site. Are they really trying to help the novice trader, or are they more interested in financial gain ?
I rest my case !
Anyway, the Pimp is back ! Will post here from now on with all my gossip, banter, and some hard-core FX Pimpin each day at 5:30am UK time, then anything else after that forbidden place I'm not allowed to talk about closes at 10 AM.
Much respect and appreciation goes out to the support we've received at twee's advertising agency . Rockdrive, Rocwell, Scorpion, Kennard, Joka, Jeremy W, Islander JA FX-Prince and everyone else. It's people like you who make the dream a reality, and it's great to see us all coming together in the face of adversity.
Let's make it happen this week. I want to see a lot more of you in the 500 club.
EURJPY looks like it needs a pullback. 84 has crossed.
My main concern is the momentum of EURUSD is strong so not expecting any huge falls, but the 'cheeky' 50 could be on the cards !
Liking these emotions better here too
How do I change my status ??
Freshman. The Pimp does not do Freshman, sorry.
Help required please.
How do I change my status ??Freshman. The Pimp does not do Freshman, sorry.Help required please.
You can't change your status. It will automatically when you become a experienced ... poster!
FerruFx
Thanks Ferru.
I was quite liking the 'degenerate strategist' title at that other place, but since this is going to be my new home, will happily work my way up the 'experienced poster' ladder.
Ahhhhhh. The Scorpion is no longer the Scorpion ?? I see that someone in higher places stole your name. Shame on them. Glad to see you keeping up the work over there getting everybody aboard on this thread instead. So how many names do you and Fran have exactly ? I'm losing touch with my name changing in every different circumstance. How do you cope ?
So much better here isn't it. Not so commercial. Like the difference between a Benidorm beach and an unspoilt private beach on a Fijian island isn't it ?
Can I get to do the spandex thing here, do you think ??