School of Pimpology - page 71
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13 pips ?! Wow...is that spread normal with your broker ? Or did it widen temporarily ? I pay 6 ticks right now at my bucket shop, but have stopped trading crude for a while since its moves are too fast...seeing the P/L all over the place while crude is jumping 30-40 ticks in a matter of seconds is just not funny.
Hey TraderLarry,
It is one of the issues of crude i.e. which broker and which spread. I know its not everybodys cup of tea but I use GFT and have a spread of 8. Volatility does not seem to be an isse and I can generally, subject to the time of the day of course, get in pretty much close to where I wanted.
It may be worth putting a shout out on the thread and lets see what others are trading and respective experiences and spreads. Comments please on other spreads?
Stretchy Rockie
Quick Question
Just popping in for a quick question.
Any programmers out there know of or are able to slap together 1 pivot indicator, with pivots and S&R levels 1,2,3 for daily, weekly and monthly, but also adaptable via a timezone shift or something like that so it would work equally well on a Monday with ODL as it would with WHC.
Oh yes, it would need to be the back-testable version too, not just straight lines acrross the chart.
Maybe just add S/R levels to this would be a start
Many thanks in advance.
F$X$P
Pip Tin Alert
Hello Fellow Pipsters,
Its been a good morning and a welcome return. After a slow start this week with some trading on usd/chf monday and tuesday, I entertained a companion, for a foray to the dark side.
For those that remember my focus on crude is the use of the 5m chart, ensuring MA's are in the right order and using the cross of the 10cci (yes, yes, I know it old school Le Pimp). I took 2 trades this morning using the strategy. Please note this is no differnt from the strategy deployed on this thread i.e. the use of the MA's and CCi's. I have just adapted it specifically for use with The Darkness itself.
So back to the trades, out slowly from the blocks my first trade was based on a crossing of the trend line at 110.00 (note campers I'm on GFT and trade their Brent forwards and this trade was Novermber futures). The 10cci had already crossed, which was why it was slow entry but I wanted to ensure it could breach the trend line. I followed the trade up and closed at 110.26 (s/l 109.40 below last red heiken) for +26 pips. My exit was based on pirce action and the move of the 10cci back to the +100 line. My second trade was much more like it.....I waited for the retrace and the 10cci, it passed through the 0/0 line as it retraced. I then waited patiently for the 10cci to build back upwards again, and in combination with the green heiken and 10cc crossing positively the 0/0 entered, this time at 110.30 (s/l 109.55) and exited at 111.03 for +73 pips. My exit was based on the 4 hour 20 line, price action and the deterioration of the 10cci.
My other trades today were gold which I had been holding since earlier this morning. My entry was 804.8 (s/l 802.2) and I closed out at 811.5 for +67 pips. Exit was based on sideways movement of gold, softening of crdue price and proximity to 4 hour 20ema.
I had some great company for the crude trades today and it was good to see the strategy working so well.
This morning I hit 200 pips thanks to the strategy described on this thread.
Well done Honest Bill for your two successful trades. Remember the rules and to follow the CCi's. Great trading and what 60 plus pips for your first dance with the Prince of Darkness. I'd call that gggggggreeeeeaaaaaaatttttttt!
Old money still works but as always I think it important to look at refinements so this weekend I shall be looking to deploy the Pimpsters latest charting tools...........They work, its just I am stuborn and oft to be a lazy bones.
Now where did I put those nudes..............(no the charts you rude things).
Thanks Le Pimp.
Oily Rockie
Pimp asked if I could put some charts up - cos I think he's bored with my chit-chat explanations. I use GFT software (yes I know its got its limitations), but has anybody on the thread knoweldge of how you can export the chart so I can include on the thread. I have tried everything to no avail..............so if any bright GFT chart users have the solution I'd be mighty grateful, as would Le Pimp, cos he likes things simple and preferably in colour, if you get my drift......
Re Quick Question
Hey Pimp
I'm no programmer more a cut and paster, I think to do that you would need 21 buffers(7 per timeframe) and platform has a limit of 8 only. You may have to do one separate indi per timeframe.I just mucked around with the other pivot program and did a weekly one. Works OK but there's going to be alot lines on the chart though. If I'm wrong about this I'll go back under my rock, if not and and you want to know what to change just let me know.
Cheers
Swagman
I have a question about martingale technic.
Usually, the goal is to buy or sell, and after a move of n pips in the wrong direction, we enter again in the same direction, doubling the previous lot's size.
This technic is known to go to an account killing if the move keeps on going in the wrong direction. But would it be possible to use it based on an entry signal?
For example, if we are selling EURUSD after a signal and it appends that the trade is a loss, then we could close it and on the next signal we use a lot's size that would recover from our previous loss and make profit for the current trade too.
If for example we want a profit of 20 pips on each trade and we bought 1 lot for the first trade and got a -20 pips loss, and now we have a new signal with a profit target of 50 pips, then in this move of 50 pips, we have to win our usual 20 pips plus the 40 pips from the last trade (because we have lost 20 pips instead of winning 20 = difference of 40 pips). So this time we would buy 1.2 lots.
Well, I think that's a bit crazy, but do you think we can really have 5 or ten wrong entry signals in a row?
Crude Part Deux
13 pips ?! Wow...is that spread normal with your broker ? Or did it widen temporarily ? I pay 6 ticks right now at my bucket shop, but have stopped trading crude for a while since its moves are too fast...seeing the P/L all over the place while crude is jumping 30-40 ticks in a matter of seconds is just not funny.
Larry,
My IG spread was fluctuating from 7-13 pips, and don't you know they weren't going to give it to me for 7.
More on Trendlines. I had them drawn on this crude chart and I took my first live trade on it today. The lower line went back to yesterday's lows.
Again being a newbie I was a bit nervous. So, Rockdrive held my hand on this one.
To be honest (being Honest Bill), although I had my deal ticket ready to click, I probably wouldn't have taken it without him.
A small run for crude, but a nice 20 pips in the tin. (I paid a 13 pips spread which I'm not happy about). We closed when the 63cci dropped back.We took this again up to just below R1. I could see the 4hr20ma on my 1hour chart.
+84 on crude today. I know Rockdrive made more as he pays a smaller spread. Something, I'm just about to look into.
See the trendline again? Take a look at Rockdrive's earlier post on this.
GFT charts
Pimp asked if I could put some charts up - cos I think he's bored with my chit-chat explanations. I use GFT software (yes I know its got its limitations), but has anybody on the thread knoweldge of how you can export the chart so I can include on the thread. I have tried everything to no avail..............so if any bright GFT chart users have the solution I'd be mighty grateful, as would Le Pimp, cos he likes things simple and preferably in colour, if you get my drift......
Hey Rockie,
The least I could do for you after today's winners is to show you this:
Now it's a little long winded, but only takes a mo once you've done it for the first time.
In your GFT software,
1. Right click on the chart, click "Separate Window"
2. Click on the chart again.
3. On your keyboard press "Alt+PrtScn" at the same time.
4. Assuming you are using Windows, go to Programs, Accessories, Paint.
5. Edit, paste, save as..
And voila! It's not ideal, but we'd love to see your trades on the charts.
If anybody can improve on this let us know.
Color template
Hi,
please, how can I create same Color profile and appearance as FX Pimp have??
Specially CCI Indicator is very nice!
Thank you.
FerruFx....be cautious about shorting eurusd because there is a hammer on daily candle and cci positive divergence appeared on the 4 hr tf. It's possible that the down move on 15 mins. could just be a pullback for an up move. Most of the time bigger TF rules over shorter TF. I don't mean to confuse you, but just my thoughts.
Not sure why and if it was addressed to me ... but thanks anyway for the advice!
FerruFx
CL staying in the fork
A perspective on CL as it stays in the fork that was formed with the pivot point way back on July 14.