Pimpology Lives On - Intensive Care for Newbies - page 10
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Hello Zac,
I'd like to thank you for sharing your skills with us and improving our trading skills in return. Appreciate it very much
. Ive added you on skype but havnt been accepted yet (user dffenim) and was wondering when the webinar starts and which chatting platform you going to use?(skype?)
Cheers
Yesterday I went on the morning session with mr.Pimp's collegue - Dan, well, even my support lines and channels were drown at wrong places ...
Well… even quite in the same time zone as the guys, the pivot and S/R are not exactly at the same places, unless you actually use the same broker -say, on a demo account, as they do (which is ODL by the way). Different brokers have different feeds, so it's no wonder (mine is even actually a couple of ticks ahead of ODL... funny but not useable, unfortunately
).
Anyway, during yesterday's NY session, Zak emitted the idea of having a trailing stop that would follow a certain MA or EMA, depending on the trade and/or time frame. I found this to be an excellent idea, so I went digging in TSD and exhumed this post from Sir Igorad, which has it :
TS based on an EMA
I haven't tested it yet, but thought it might be useful to all of us, who benefit from this strategy (+80% as of today on a real account, started 3 months ago, so thanks, Mr Pimp !).
Hi Fx Pimp,
Thanks a lot for sharing this system with others and teaching how to trade it.
I would like to ask something regarding "fast ema's".
In your post (#52) you mentioned you use fast ema's to help you stay out of false signals.
"There are the occasions when we have false breakouts, but with the fast EMA that runs through the candles near to the break point, these falsies can often be avoided."
Would you be able to give us some more info on how you use fast ema's , please?
Thank you tagada, quite useful
.
Salaaat, where are you? I am starting to like asian session
, was riding the yen all evening ... Actually made some money, thanks mr Pimp 
...
Thank you tagada, quite useful
I told you the asian was good. You did not close all your trade yet have you? A good asian move usually carry over to europe and even the us sessions. Your + pips usually goes double or even triple when the european agrees with the asian market. Just set your trail stop loss to what ever MA timeframe you use.
Happy pimpin
....
Salat
Hi Fx Pimp,
Thanks a lot for sharing this system with others and teaching how to trade it.
I would like to ask something regarding "fast ema's".
In your post (#52) you mentioned you use fast ema's to help you stay out of false signals.
"There are the occasions when we have false breakouts, but with the fast EMA that runs through the candles near to the break point, these falsies can often be avoided."
Would you be able to give us some more info on how you use fast ema's , please?Sure can Sir,
The fast ema, a 4 on a 5m chart or a 5 on a 60m chart is the 20ema from the lower timeframe.
what can we glean from this?
Well, a moving average is dynamic support or resistance level, so if a 60m 20ema is just below a breakout of resistance area with the m.a supporting the price the chances of a clean break is much greater than if the m.a was say 100 pips below.
The nearer the better.
Look at the snippet..
The first highlighted area shows a false break of the blue support line with the 5ema (dark green) very far away.
However, the second shows another test of the support, this time with the 5ema very close, hence the break.
It won't work everytime but will save you at least 6 falsies in 10.
I hope this helps.
I told you the asian was good. You did not close all your trade yet have you? A good asian move usually carry over to europe and even the us sessions. Your + pips usually goes double or even triple when the european agrees with the asian market. Just set your trail stop loss to what ever MA timeframe you use.
Happy pimpin
....
SalatSorry for my lack of input into the asian session. I am usually asleep at that time.
Keep up the good work. love the photo.
FXPimp, Om Salat or any other trader here....
Can youplease help me drawing the pivot lines in MT4? I see from your charts that these levels are prety much dynamic, as in they update themselves on daily/monthly or weekly basis(as the case might be). Is there any code for it or any indicator that is used?
Kindly help
Happy Trading
...
FXPimp, Om Salat or any other trader here....
Can youplease help me drawing the pivot lines in MT4? I see from your charts that these levels are prety much dynamic, as in they update themselves on daily/monthly or weekly basis(as the case might be). Is there any code for it or any indicator that is used?
Kindly help
Happy TradingIts an idicator for pivots. I attached it below.
FXPimp, Om Salat or any other trader here....
Can youplease help me drawing the pivot lines in MT4? I see from your charts that these levels are prety much dynamic, as in they update themselves on daily/monthly or weekly basis(as the case might be). Is there any code for it or any indicator that is used?
Kindly help
Happy TradingThe pivot lines are created by an MT4 indicators. Send an email to Zak aka FXPimp and ask him for his templates. The template include everything from the MAs, CCIs, Pivots, etc. so you don't have to set anything manually. His email address is thefxpimp@hotmail.com.
Salat