School of Pimpology - page 172
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Further, I totally agree with you in that I find it hard to get exciting about making 25 pips here or there. The longer term moves, and hence the larger profits definitely sound better!
Hello Stuart,
The best indicator I have is between my ears. Indicators can only tell you what happened in history, they cannot forecast or predict future moves, not even any of the fancy black boxes.
I'm getting off topic with this thread which is not my intention as I have too much respect for Zak.
PM me if you want to discuss more.
Rock on,
Strat
Will do. Thanks
Actually not off topic at all now that the Pimp is teaching longer term trading. Please keep posting, we could all use less stressful trading!
Nicola
Hello Stuart,
The best indicator I have is between my ears. Indicators can only tell you what happened in history, they cannot forecast or predict future moves, not even any of the fancy black boxes.
I'm getting off topic with this thread which is not my intention as I have too much respect for Zak.
PM me if you want to discuss more.
Rock on,
Stratstratocaster if you stop to posting here woud you plz maybe think to starting youre own thread as i am wanting to know more long term also tho looks like makers of this thread dont post here much anyway now they have private site.
""stratocaster if you stop to posting here woud you plz maybe think to starting youre own thread as i am wanting to know more long term also tho looks like makers of this thread dont post here much anyway now they have private site.""
Angela,
I don't have the ego to start my own thread but am willing to help others as I have been helped in my trading career.
Rock on,
Strat
I'm trying to edge towards the longer term stuff. I just felt the shorter term stuff,
...
Cheers
A more chilled out Bloom.Hi Bloom,
Can you explain a bit more about how you tackle the longer timeframes, i.e. are you on to daily charts now like Strat, or 1h/4h? Do you still use the stock 20 and 50 Ma's and CCI's with trigger from lower timeframe?
Cheers,
Spitfire
Pimp strategy works again on the Daily
DO AS I SAY NOT HOW I DO
How many times have we heard this? I am kicking myself for not practicing what I preach which is the Pimp strategy works on the Daily time frame.
At the end of yesterday's NY trading day, I did a quick analysis of my pairs and entered stop orders based on my method. Unfortunately, I was only kicked in on EURGBP.
Now if I had taken the time to check the Pimp strategy, I would be in 7th heaven! This is even more annoying because I alerted everyone to the fact that most pairs were at, or near, their respective 20s.
On Feb 3rd the following happened:
EURUSD rejected by the 20
GBPUSD closed ABOVE the 20 on Feb 2nd AND bounced off support from the 20 on Feb 3rd
GBPCHF bounced off support from the 20
GBPJPY closed ABOVE the 20
USDCHF bounced off support from the 20
Luckily, I have since been kicked in to some of these trades
My excuse, I guess, was that I was so horribly hungover on Feb 4th from our horrendous party to celebrate the 50th Anniversary of the day the Music Died, that I couldn't bear to look at the screen let alone the charts.
So, I have a note on my screen telling me "ALWAYS CHECK PIMP STRATEGY"
PS
AUDUSD is now at the 20 - need to see where it will close
CHFGBP is now above the 20 - need to see where it will close
EURJPY is now above the 20 - need to see where it will close
USDCAD is being rejected by the 20 - need to see where it will close
USDJPY is now way above the 20 - needs to pull back
That sound you hear is me kicking my backside!
Rock on,
Strat
Not going to kick you but maybe you can have your cake and eat it too.
Price action and moving averages. Not on the same chart obviously but no harm in using more than one tool from your toolbox.
Anything has got to be better than today, I am up good pips but it was hard work very stressful.
GB and EU rate announcements and crazy Yens made it a rollercoaster. Roll on Non Farms tomorrow (not).
Nicola
DO AS I SAY NOT HOW I DO
How many times have we heard this? I am kicking myself for not practicing what I preach which is the Pimp strategy works on the Daily time frame.
At the end of yesterday's NY trading day, I did a quick analysis of my pairs and entered stop orders based on my method. Unfortunately, I was only kicked in on EURGBP.
Now if I had taken the time to check the Pimp strategy, I would be in 7th heaven! This is even more annoying because I alerted everyone to the fact that most pairs were at, or near, their respective 20s.
On Feb 3rd the following happened:
EURUSD rejected by the 20
GBPUSD closed ABOVE the 20 on Feb 2nd AND bounced off support from the 20 on Feb 3rd
GBPCHF bounced off support from the 20
GBPJPY closed ABOVE the 20
USDCHF bounced off support from the 20
Luckily, I have since been kicked in to some of these trades
My excuse, I guess, was that I was so horribly hungover on Feb 4th from our horrendous party to celebrate the 50th Anniversary of the day the Music Died, that I couldn't bear to look at the screen let alone the charts.
So, I have a note on my screen telling me "ALWAYS CHECK PIMP STRATEGY"
PS
AUDUSD is now at the 20 - need to see where it will close
CHFGBP is now above the 20 - need to see where it will close
EURJPY is now above the 20 - need to see where it will close
USDCAD is being rejected by the 20 - need to see where it will close
USDJPY is now way above the 20 - needs to pull back
That sound you hear is me kicking my backside!
Rock on,
Strat"You can have your cake and eat it too" - that's from Lay Lady Lay by Bob Dylan - right?
I guess the BOJ must have intervened today buying US$ as they are desperately trying to keep the Yen down. Japan exists on its exports, mainly to the US, so it needs a low Yen to make their exports cheaper.
Our daughter is in Yokohama, Japan right now - why couldn't she alert me to this?
Rock on,
Strat