School of Pimpology - page 85
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Mr FX pimp,
GU 4Hr Signal Long
What do you think Sir, I'm long GU base on this chart TP 1.8000 (161%)
here the chart of GU Please Advise if I'm Wrong...
Thanks and regards,
Mymarahaba.Here's your problem with Cable. It's in a symmetrical triangle formation.
Ideally you'd want to see both Gold and Crude moving up and a break of the triangle to the upside. However, you have the 60m 20 UNDER the 50 so technically it's short on this 60m timeframe. It would need to break the 50sma too.
With Gold being so messy I'd really want to be watching this morning and not actually trading until we have a clearer direction.
Just 30mins ago Gold looked like a short on the 5m chart, but now on the 60m chart it looks to have found support off the 60m 20/50 and the 4hr 50 and likely to move up, so a complete contrast of opinion. Definately a day where patience is number one rule.
I do beleive that if Crude can break this previous high then we might see it 200 pips higher, coming to a halt at the 4hr 20 / daily R2
PA - GU 1hr
Mr. Fx Pimp,
GU made the good movement and I hope to continue movement to 1.8 if really breake the 50 SMA 1Hrs
Rgds,
Maxy
Another losing day
Another losing day today -38 pips.
I could keep trying to get back those pips I've lost on my live account.
I have good money management in place so I could keep doing the losing trades for a long time yet. About 200 consecutive losing trades roughly.
Now, obviously, this would be suicide.
So, I have given myself 2 options, take time out for a few days or start demo trading again.
Well, I've chosen the latter (I know, I know, should have listened before)
I'm also going to read this entire thread again a few times.
I'll keep posting the trades and just because I am on demo don't think "ah sure it's only demo". In fact, I am going to try to be even more conservative. No point in jumping into trades because even if it is a winner it won't make any money. I'll only be taking very, very good set ups.
So, to the novices/newbies, are you learning from my mistakes yet?
Honest Bill,
ps. FX, that book is cheaper on Amazon. It's in the mail. I do like all that kind of stuff too.
Amazon.co.uk: Eastern Wisdom for Western Life: Joseph Arpaia, Lobsang Rapgay: Books
Hi Bill,
I have done no better than you today. But I do wonder with current volatility that 20/30 pips is too tight. I am going to work on my stake based on my S/L. Larger stop loss but smaller stake - same risk. I am often getting trades correct but get stopped out or pull the plug too early.
At the moment the best trade is probably not to trade till things calm down.
Chris
Another losing day today -38 pips........
Hm, hm, same as you? No, even worse.......
Pimpology is good strategy for trend, but chop is chop is chop...
Hm, happy pips....
GU and EU
Good Morning All,
GU and EU 1hr and 4hr possible trend continue bullish
TP EU 1.46 & GU 1.8362
What do you think FX Pimp?
Regards,
mymarahaba.
Beginners Luck?
I guess I got lucky on this trade...my first trade using the system...I got in on a long position at the red arrow...there was some immediate retracement...not sure what happen...when I look at the indicators there were all signaling BUY...they I turn around to see I'm down...Maybe I got in too early...Im still not sure maybe someone can identify my error...but I held onto the position to lock-in a cool 35 pips...thanks FX Pimp
My Question...Is the a specific time range that is recommended to trade for currency pairs?
Also, when can I find a detailed description on the 4 hour method?
Lot's of chicken chop suey going on by the sounds of things.
Many guys getting slung about all over the place.
In times like this you must make one of 2 choices.
1. Sit out, go and get on with something.
2. Take a longer term perspective like Mr Mymaahaba. He's had to place one trade and he's 400 pips up
Sure he's had to be patient for the trade to materialize into positive territory but if ones daily target is say, 50 pips, then this one trade has allowed you to take the rest of the week off.
Why do we do this job ?
We do it so we can spend more quality time with our friends and families, not because we want to be miserable and throw away money.
On a brighter note, I went to pick up my new passport yesterday, am all booked up and ready to fly this afternoon to my new home.
Here's the view from the terrace.
Nice place! Where is that located?