School of Pimpology - page 111
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Indices
Evening Pipsters;
Apologies for not being around from Friday. I have had my head down, trying to avoid a spanking from Mrs Rockie.....oh the shame. On Friday, while most of you were playing the London open, I was, I am afraid, battling with cleaning implements. Somehow, Mrs Rockie thinks as I 'work' from home I should help with the domestic chores. Enough I hear you cry....well I'm crying thats for sure.
Last week I had somewhat of a fantastic week. I closed at 943 pips. Over 700 pips were attained on the Indices. In fact in a single day I hit 610 pips (+431 Dow 9184 - 8753 short closed for price action / FTSE +68 4302 - 4234 as with Dow / and crude 86.38-85.18 +120 nice pips to take). I did take more pips on crude +56, but I got greedy as I had >1000 pips in sight and got carried away and forgot my rules in the chase. My last two trades were Dax -24 and Dow -32. I should have just packed up and been satisfied.
Today was another interesting day for the patient pip hunter. I was late joining in this morning. So I sat back for a but had spotted DAX 252 cci was nearly at 0/0. Got in early and it fell back and I managed to get out for -4. I shorted ftse 4130 - 4076 +54 pips which was a bit strange as FTSE seemed to be the leading indice this morning. One other crappy trade and one for the spread companies, I was long WTI and had a noce 60 pip stop in place. Got stopped out on a massive two directional spike by 2 pips, so got hit for -62 pips, WTI did go long about 2 candles later by over 150 pips. Don't you just hate it when the Sheriff of Pippingham is in town! I was thinking pretty crappy thoughts so took a short break. Got on board and could see the DAX 252 above 0/0 took the trade at 4856 and exited at 4933 +77 (rationale was two red heiken on 5m and next candle although green not much momentum). Also got myself in the Dow, but I waited for the initial break and the retracement entered at 8805 and put limit order in closed at 8905 for +100 pips. Could have, should have and all those other thoughts at Dow sailed in to 9000 territory. Happy with my late recovery and adding pips to a tin that was looking mighty empty at mid-day. Days Total +165.
Not sure this is the break upwards the market want or need. But today was a toughie for me and perhaps just the wake up to keep my bigfat head on the right level.
Fallible Rockie
THX FX Pimp!!
I hope to join you on the Island soooooon!
Agian I appreciate everything you have done for those of us lacking the experience and guts to go forward with something that could turn out to be life changing.
Thx,
Todd
Good Morning
Just a quick one this morning sadly. I am rushing to get ready but have a flat battery.
Mr D will be here is 10mins to pick me up so without further adew, lets crack-on.
Gold Gold Gold.
IF this triangle breaks to the upside we might see some fireworks upto the 4hr 20 and weekly pivot at $871, almost 250 points away from the current level.
Not really much to say about the dollar at the moment. It appears very mixed. With cable Euro and Jpy all travelling in pretty much the same direction.
Gold and Oil were behaving yesterday which was nice. I hope this keeps going.
Anyway. that's the potential play of the morning. Get your lines on there wait for a break on the 15m, swap to 5m, little 1-2-3 gets you in for a nice tidy trade.
Keep an eye on the black stuff. Any move north on Crude or Brent or WTI will help the position along nicely.
Back later with some longer term ideas.
Have a good morning.
Gold Set Up
Gold did break out north but hardly moved more than 20 or 30 pips.
Since then the break seems to be more aggressive on the downside.
Look how the support line has been smashed.
A bigger move to come maybe.
Focus on the Mission
Today Pipsters I found myself getting royally distracted. Another trader and I were exchanging views on a thread on the direction of crude. It was an unnecessary exchange as I believe the both of us are reasonably accomplished traders. The crux was it caused me to doubt my charts. Something I have not done in many a month. The lesson for me I shall share what I see, but if there be disagrement from another quarter I shall not engage in justification.
Trade what you see and don't get off by what others think, say or do. If you believe your charts you have to stay true.
Its been a miserable days trading for me. I let my Dow pips dribble away thinking it was just a small retracement. I was in at 9700 and up nearly 200 at one stage. Closed out like a chump for only 78 and the same with crude up 51 pips and closed at -9. I had some other highly notable failures on the dax and ftse where my take profit arrogance made sure I ended up with b/e!
I shall be stepping back a little. Too much pressure on myself to hit targets. I will be reverting to my old game plan; taking profit as it arises and making pips from smaller positions.
My two lessons; don't be put of by others and take profit
Tomorrow is another day.
Contrite Rockie
First of all thanks for you mail in which you send me indicators and tpl. I am new to this thread and system so I decided to read the whole thread which I tried, but I think that it would be easier if you have some pdf or materials to read. Generally I got the point of this system but teacher is teacher and knows always a "little bit more" than student. So, do you have some recommendation what to read to learn this fantasitic system?
Hi Pilatus,
maybe I've got something for you.
I made a text file of this thread for myself with screnshots included. I removed a lot of less important posts but it still has over 10MB or MegaPi(m)ps?
If you want mail to: dajcar at yahoo com. I'll sent it to you at the weekend.
You can print more than 200pages out and read and read.........
Jiri
Dear Pimp and co,
Just want to let you let know how happy I am for using your template and trading while being on the chat.
You guys really do a great job with your morning conferences - Have made a lot of pips while listening to you around London open.
I am truly happy I found my way to school of Pimpology. My second week only.
Really liking the system. Has boosted my trading results and it seems to be getting better and better. This system works. Best thing I ever done as a trader. Thank you all very much.
I ll have a little nap and be on for the London Open. See you then
Thx again Anders
thanks fxpimp
sell signal
Good Morning
Good morning campers.
Sorry about yesterday's absence. I managed to get locked out of the office yesterday and so was late coming in.
We spoke about USDJPY before leaving the house at 6am but never took it.
Look how the bold 60m 20 had crossed the bold 60m 50.
Really a very simple trade to take and a very important lesson for all newcomers to the thread to learn.
This crossover is immensely powerful and with a sensible stop loss one could have taken a painless 200 pips.
After a little retracement we may see this a bit lower today too, so look out for a cross back below the 15m 20ema and 21cci, then a little retracement of the 7, all on a 15m chart.
Obviusly there will be some support at 100.00 but a break of that level might see 100 pips and then some.
Gold also looks weak on the 60m chart IF it can break the support line.
It's an hourly chart showing here so a few pips down to support to be made first with the right set-up on the 5m.
Have a good morning.
Gold also looks weak on the 60m chart IF it can break the support line.
It's an hourly chart showing here so a few pips down to support to be made first with the right set-up on the 5m.Well well well. The jpy trade of this morning was a bit of a bad egg.
We took a small hit on that but think we may have just covered it with the Gold breakout.
A little 400 pip move for those who took this break, and it's time to pop the corks. $600 here we come !!