School of Pimpology - page 176
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Why is it nobody can give a straight answer!
I've read countless trading books. Will list them if you want, from psychology to technical analysis to outright fun?
I'd agree that at the moment i'm lost. I'm mainly lost because nothing is black or white. Maybe i've fooled myself, but I wanted to set up some black & white rules to my trading. Go long when XYZ occur, short when ABC occur etc. As it stands i'm not sure if that can happen
Now, can you explain why my question is so stupid. When you open a chart do you always spend 10 minutes studying it before moving on to the next one?
I am sure most don't. My question was simply what is required for you to warrant spending more time reviewing the chart?
I think your first assumption is just that, an assumption.
Best
Stuart
Honestly Stuart,
After reading your post, I don't really have much sympathy for you, but more or less feel slightly empathetic for your situation- but you are obviously lost and you need to realize that.
Your question to Strat is riddled with obvious signs of psychological struggles and even if you do place a trade, I highly doubt you'll manage the active trade properly.
Your biggest concern is not how to trade at the moment, I'm afraid. Your biggest problem is for you to settle down. You can't be running off asking such desperate questions expecting to make money. Off a first impression, I'm making the assumption you've barely taught yourself anything about trading aside from maybe reading this thread, and if you object to such an assumption, I'm more than happy to prove that you don't know many other strategies.
Go read a book, or read some forexfactory.com journals. You're not ready to trade- AT ALLOnly for Pimp Method
hI,
Thanks for all your posts i have found them very interesting,
You say you trade the daily charts and i understand what you are doing but tell me, do you use the 4 cci or the CCI's as per zaks strategy
Thanks
Paul
Straw Poll
I'd love to take a straw poll if I can.
What is the very first thing you look at when you open your chart?
""There must be something, that takes very little computation that you guys look for that warrants further investigation into the share/ price action etc?
I think i've taken it too far and now cannot trade. I haven't found anything in about a week that I want to trade!
I'm never going to make this a full time job if I can't trade, but i'm stuck at first base at the moment!""
Stuart, if you take a straw poll, all you will get is STRAW!
Trust you have seen my reply to your PM
Rock on,
Strat
do you use the 4 cci or the CCI's as per zaks strategy?
Hello talcorkids,
""You say you trade the daily charts and i understand what you are doing but tell me, do you use the 4 cci or the CCI's as per zaks strategy""
For my method, I don't use indicators. Since this is Zak's thread, I have to keep within the subject of this, his thread.
I have started using elements out of the Pimp strategy as a check against my method, sometimes confirming, others conflicting.
My purpose in posting on Zak's thread is to help those using the Pimp strategy, who like me, are pretty useless in trading short term frames.
The use of the 20, as Dan preaches, is also useful in trading the Daily, PROVIDING you know how to use it.
If you pull up any Daily chart, apply the Pimp template and look back IN HISTORY, you will see that the CCI works very successfully. The trick though is to use it in REAL TIME.
Hope this helps.
Rock on,
Strat
Christmas Cheer or Confessions of a Cheater
deleted, deleted
I'd love to take a straw poll if I can.
What is the very first thing you look at when you open your chart?
""There must be something, that takes very little computation that you guys look for that warrants further investigation into the share/ price action etc?
I think i've taken it too far and now cannot trade. I haven't found anything in about a week that I want to trade!
I'm never going to make this a full time job if I can't trade, but i'm stuck at first base at the moment!""
Stuart, if you take a straw poll, all you will get is STRAW!
Trust you have seen my reply to your PM
Rock on,
StratWish i'd never asked now.
You can go ahead and start naming them, and once you will do I will be intrigued to ask you questions on the strategy itself.
I'm not stupid, and neither should you treat as some benign fool who doesn't know what he might talk about.
You're going off asking people for a mechanical system and rules- you claim to have read several trading books "etc.."
If you're so bright, you should have realized what you're seeking is a trading guide, or a trading system- a set of rules that you need to have accomplished before trading.
Wouldn't that be in the first chapters of all those "books" you've supposedly read? Yes people take the first 5-10 minutes to analyze a chart- what do you do? Flip a coin? What's a chart therefor?
I highly doubt you've read as many books as you claim you have.
Have fun- and if you're going to complain more, I suggest you put on a blindfold and trade. At least you'll be doing yourself a favor psychologically not knowing if you're losing money or not.
Wish i'd never asked now.
Initial Review of a chart
Hi Stuart
I am no expert (as my weekly trade results posted on this thread testify), however I try to follow what Dan & Zak's post in the live room and the fx500 blog and Dans thread over at t2w. Infact this week they have got even clearer with bullet points: heres the addresses:
FX500 club blog:
Forex Blog, Forex Trading, Live Forex Education, Currency Trading
Dans thread
T2W Day Trading & Forex Forums
Essentially it seems to be look at the MAs on higher time frames for crosses & general direction and position relative to where the price presently is and if it looks interesting drop down the timeframe and repeat.
Don't feel too disheartened, a lot of Zaks 'in summary' this week have said, "not clear, sitting out for now"!
best
Paul
I'd love to take a straw poll if I can.
What is the very first thing you look at when you open your chart?
There must be something, that takes very little computation that you guys look for that warrants further investigation into the share/ price action etc?
I think i've taken it too far and now cannot trade. I haven't found anything in about a week that I want to trade!
I'm never going to make this a full time job if I can't trade, but i'm stuck at first base at the moment!You can go ahead and start naming them, and once you will do I will be intrigued to ask you questions on the strategy itself.
I'm not stupid, and neither should you treat as some benign fool who doesn't know what he might talk about.
You're going off asking people for a mechanical system and rules- you claim to have read several trading books "etc.."
If you're so bright, you should have realized what you're seeking is a trading guide, or a trading system- a set of rules that you need to have accomplished before trading.
Wouldn't that be in the first chapters of all those "books" you've supposedly read? Yes people take the first 5-10 minutes to analyze a chart- what do you do? Flip a coin? What's a chart therefor?
I highly doubt you've read as many books as you claim you have.
Have fun- and if you're going to complain more, I suggest you put on a blindfold and trade. At least you'll be doing yourself a favor psychologically not knowing if you're losing money or not.Hold on. You attacked me.
This thread is called "School of Pimpology". I am a member and am following his strategy here.
Now, maybe I should have answered the question myself and looked for validation.
When I open a chart, I look for cross-overs of the 21 CCI in relation to the next timeframe CCI, or I look for cross overs of the 20 and 50ma from the timeframe above the one I am viewing, so the 4 hourly if I'm viewing the 60m.
I'm not looking for a fight, I wanted to try to understand the system better.
You say "If you're so bright, you should have realized what you're seeking is a trading guide, or a trading system- a set of rules that you need to have accomplished before trading.". This thread is all about a particular trading system and it is this system,and purely this system I am talking about.
Again you attacked me. I responded. I am not complaining, I am trying to learn more.
Hi Stuart
I am no expert (as my weekly trade results posted on this thread testify), however I try to follow what Dan & Zak's post in the live room and the fx500 blog and Dans thread over at t2w. Infact this week they have got even clearer with bullet points: heres the addresses:
FX500 club blog:
Forex Blog, Forex Trading, Live Forex Education, Currency Trading
Dans thread
T2W Day Trading & Forex Forums
Essentially it seems to be look at the MAs on higher time frames for crosses & general direction and position relative to where the price presently is and if it looks interesting drop down the timeframe and repeat.
Don't feel too disheartened, a lot of Zaks 'in summary' this week have said, "not clear, sitting out for now"!
best
PaulHi Paul. Thanks a lot. Already follow both, but you have validated my thoughts that things have not been clear recently.
Much appreciated.