School of Pimpology - page 161
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Gbpjpy
OK
I am new but I wil explain as best I can my GBPJPY trades today.
This is the 15 minute chart.
The pink line is the 15minute 20 moving average and the red line is the 1hr 20 moving average.
The 1hr 20 ma is the king of the moving averages and moves using it get more pips than the 15 min ones.
Moving averages are floating lines of support and resistance. When the price gets to them it either bounces off triggering a short or long (depending on the trend and the order the moving averages are in). or the price will cut through and be supported by or held down by the moving average, also very tradeable.
The black arrows show my entry and exits.
I missed the first bounce off the 1hr 20 this morning and the 15min averages had not crossed for a down move. I got in when it dropped off the second time and the pink and pale blue moving averages crossed (the magic cross) for a move down.
I hope this helps
Nicola
Yens
faq123 ...
I am watching GBPJPY, USDJPY and EYRJPY on the 15minute chart to see what happens when the price gets to the 20 moving average.
If it bounces off or cuts it and then goes back down below it then it would signal a short for me.
If it cuts through and is supported by it then it would be a signal that the retracement is going higher but I am not interested in trading against the trend today. I will then wait until it gets to the hourly 20ma for my signal to short them again.
--------------
Looks like crude has spiked ridiculously and I may be giving up all my gains in crude from yesterday. I wasn't watching and should have closed it ages ago
lets hope the 4hr 20 ma holds it down.
This posting charts and stuff and trading at the same time is distracting, don't know how the pimp does it.
Nicola
OK
I am new but I wil explain as best I can my GBPJPY trades today.
This is the 15 minute chart.
The pink line is the 15minute 20 moving average and the red line is the 1hr 20 moving average.
The 1hr 20 ma is the king of the moving averages and moves using it get more pips than the 15 min ones.
Moving averages are floating lines of support and resistance. When the price gets to them it either bounces off triggering a short or long (depending on the trend and the order the moving averages are in). or the price will cut through and be supported by or held down by the moving average, also very tradeable.
The black arrows show my entry and exits.
I missed the first bounce off the 1hr 20 this morning and the 15min averages had not crossed for a down move. I got in when it dropped off the second time and the pink and pale blue moving averages crossed (the magic cross) for a move down.
I hope this helps
NicolaNicola,
i have been studying this system since it began and go into live room but lioke to sit back and watch and make the pips but i would just like to say that the explanation you have given is brilliant and i am sure that if newbies do not get it then there will be no hope
well done and keep up the good wrk, i am sure a few more cahrts like that will help all
Paul B
Learning THE system
Hi,
Have been trying to learn this system and feel I (and probably others) would really benefit from some more charts if possible.
So, in an effort to accelerate the learning curve, would that be possible? Could you please post more charts explaining you entries.
Thanks,Hi faq123
Welcome to the Pimps thread. I don't wish to cause offence, but have you studied all of the charts the Pimp posted at the very start of this thread, laying out in great detail, step by step, how to read the strategy on his charts?
You really won't get any better explanation anywhere else. May I suggest reading those early Pimp posts a few times, and then testing your undestanding by watching some live charts and perhaps placing some demo trades? Then you will get real time feedback on your understanding - if you double your demo account balalnce, you have understood. If you blow the lot, you need to revise !
happy pip hunting
Paul
Yo - Return of The P$mp
Hi Guys,
Since I am not really posting trading ideas much these days, and most of the strategy is on here, perhaps you'd be kind enough to allow me back for a little laugh and a joke sometimes?
Thanks for the continued support by all of youHey Big Man
Duh, its your thread. Of course we welcome your return, both for your constructive critism (thats how we will improve our trading), even "PipDrive" & "Pipsy Galore" aren't up to your level of performance yet - and of course a joke or two.
I enjoyed Monkeys post over on Dans thread yesterday - he posted his levels in the morning; the lows were smashed toward the end of the afternoon - well in the pips....then another post admitting he'd pulled his orders & got diddlyswat!
btw, I hope the house move goes smoothly for you and look forward to more of your time in Feb
happy pip hunting to all
Paul
Gone back to trading the Daily
I came here because I wanted more action than I was getting trading the Daily and soon found out that the action I got (pressure) was way more than I could handle.
I learned that I am more suited to doing a 20 minute analysis over 10 pairs after 2pm (PST, when NY closes) and placing limit/stop orders and letting them run, than I am doing my head in watching M15 charts all day, which also requires me to be awake and alert at non - social hours (11pm and 5am PST). Plus I can go back to doing other things during the day while my trades are working. Yes, you do need wider stops and therefore a larger account or smaller contract size.
I have just closed my Daily short GBPUSD trade at the close (1.3874) after entering at 1.4788 for a nice 914 piparoonis in 3 days. Although I used my previous strategy, I look back and it would appear the Pimp strategy would have worked also.
I have now placed an order to go long at 1.4029, a couple of pips above the high of the pin bar with a SL at 1.3615, a couple of pips below the low.
Again, I take my hat off to you guys (and The Queen) that can profit from these short time frames. Keep on doing what works for you.
Good luck, and if I may, I will continue to post when I feel I can help.
Wow Strat - I would love to trade like that! I want to move up timeframes so badly.
I hope you keep posting so I can see what you do.
Nicola
I came here because I wanted more action than I was getting trading the Daily and soon found out that the action I got (pressure) was way more than I could handle.
I learned that I am more suited to doing a 20 minute analysis over 10 pairs after 2pm (PST, when NY closes) and placing limit/stop orders and letting them run, than I am doing my head in watching M15 charts all day, which also requires me to be awake and alert at non - social hours (11pm and 5am PST). Plus I can go back to doing other things during the day while my trades are working. Yes, you do need wider stops and therefore a larger account or smaller contract size.
I have just closed my Daily short GBPUSD trade at the close (1.3874) after entering at 1.4788 for a nice 914 piparoonis in 3 days. Although I used my previous strategy, I look back and it would appear the Pimp strategy would have worked also.
I have now placed an order to go long at 1.4029, a couple of pips above the high of the pin bar with a SL at 1.3615, a couple of pips below the low.
Again, I take my hat off to you guys (and The Queen) that can profit from these short time frames. Keep on doing what works for you.
Good luck, and if I may, I will continue to post when I feel I can help.got to surely
This must go, mustn't it?
Damn it. Wish I'd seen that post earlier.
Usdjpy
My other favourite trade today was USDJPY because I waited so long for it!
The pimps early posts talk about the great things that happen when the moving averages bunch up and then break out.
This chart also shows the 123 that was available as well if you missed the first move today.
From entering on the breakout to the big move took hours so you had to be patient. 100 pips for this one and you only needed a small stop above the WS1
I put the arrows on also for the really big one I got yesterday too which was 250 pips. Same classic school of pimpology strategy.
Hope this chart helps too.