Pimpology Lives On - Intensive Care for Newbies - page 24
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Sorry, I guess you needed both file in your indicator folder for it to work.
Hi OM,
Thanks for that indicator but could you give us a quick background as to waht the coloured highlighted areas mean on the charts coloured in brown, red, light blue and dark blue
Thanks
Paul
Please help me analyse this
This lesson is designed to outline what in my opinion is one of the best set-ups a day trader can use to help maximize profits both long-term and short-term.
If you want 20-30 pips from a trade lasting under an hour this set-up is for you. If you want 200 pips or more from a trade lasting a few hours or days then this is for you too.
It makes no difference of your trading style, everyone can benefit immensely from mastering this strategy.
I look at a 60m chart for overall direction and a 5m chart for entry for breakouts, reversals, box plays and continuations.
simply set out your charts side by side with a 5m on one side and a 60m on the other side of your screen.
the only pairs we are interested in trading are GBPUSD EURUSD USDJPY GBPJPY & EURJPY.
these are the only 5 pairs you'll need to trade in order to make over 1000 pips per week.
All the moving averages on the charts are 20's and 50's.
20 exponential and 50 simple from different timeframes.
On the 60m chart I have 20/50 from 60m, from 4hrly and from daily.
On the 5m chart I have 20/50 from 15m, 60m and 4hrI also have a false breakout m.a which runs through the candles and works well most of the time.
On the 60m it's a 5ema and on 5m it's a 4ema.
On the 60m chart this represents the 15m 20ema and on the 5m it represents the 1m 20ema.
The CCI's I use on the 60m are 21/84/5
The 21 is the immediate trend, the 84 is the 4hr trend and the 5 is the 15m 21CCI or the 'trigger'
On the 5m chart I use a 63 which is the 15m 21CCI and the 4 which is my 1m 21CCI or my entry trigger.
I also use Daily, Weekly & Monthly pivot points which offer great areas to enter and exit specific trades.
Here's a snapshot of how your charts should look.
Whilst here. Keep an eye on this GBPJPY. IF it breaks up through 142.00 with the averages close enough to sustain a push this could go up by 2000 pips.
My order is set at 142.10 and I'd expect it to get triggered at some point this week.
In the next lesson I will explain in greater detail the pairs we want to cover, why, and how each of these affects the performance of the other.Hi Zak, i trade from Nigeria Africa, I am a newbie to forex and to this forum.And i certainly hope this question does not make sound like the most ignorant on the forum.
While i was trying to duplicate your trading system, i had a problem with
"On the 60m chart I have 20/50 from 60m, from 4hrly and from daily.
On the 5m chart I have 20/50 from 15m, 60m and 4hr"
I could put a 20/50 ma on a 60 minutes chart but to put a 20/50 ma of a 4hrs chart on a 60 minutes chart was beyond my IQ.please tell me what i am doing wrong.I really appreciate your effort and would like to benefit from it. Thanks alot
Hi Zak, i trade from Nigeria Africa, I am a newbie to forex and to this forum.And i certainly hope this question does not make sound like the most ignorant on the forum.
While i was trying to duplicate your trading system, i had a problem with
"On the 60m chart I have 20/50 from 60m, from 4hrly and from daily.
On the 5m chart I have 20/50 from 15m, 60m and 4hr"
I could put a 20/50 ma on a 60 minutes chart but to put a 20/50 ma of a 4hrs chart on a 60 minutes chart was beyond my IQ.please tell me what i am doing wrong.I really appreciate your effort and would like to benefit from it. Thanks alotZak is not here for a long time, he is in fx500club this forum is dead for him.
Hi Zak, i trade from Nigeria Africa, I am a newbie to forex and to this forum.And i certainly hope this question does not make sound like the most ignorant on the forum.
While i was trying to duplicate your trading system, i had a problem with
"On the 60m chart I have 20/50 from 60m, from 4hrly and from daily.
On the 5m chart I have 20/50 from 15m, 60m and 4hr"
I could put a 20/50 ma on a 60 minutes chart but to put a 20/50 ma of a 4hrs chart on a 60 minutes chart was beyond my IQ.please tell me what i am doing wrong.I really appreciate your effort and would like to benefit from it. Thanks alotMultiply the 20 & 50 ma of a 4 hrs by 4. Why multiply by 4? Because 1 hour times 4 equals 4 hours. So 20 x 4 = 100 and 40 x 4 = 200. There you have it. So you add 100 ma and 200 ma in the 60 minutes chart.
To make it easier for you. PM me your email address and I'll send you the template.
However, doing it manually will help you understand better.
Salat
A million thanks
Multiply the 20 & 50 ma of a 4 hrs by 4. Why multiply by 4? Because 1 hour times 4 equals 4 hours. So 20 x 4 = 100 and 40 x 4 = 200. There you have it. So you add 100 ma and 200 ma in the 60 minutes chart.
To make it easier for you. PM me your email address and I'll send you the template.
However, doing it manually will help you understand better.
SalatMust say you look cool with that baby face.
Thanks alot for the guide.If emails are allowed, it is adeogunsuji@yahoo.com.
Just out of curiousity, what happened to Zak, he sounded like someone committed to helping others. Also what do you all think of his trading systems? do they work as good as he says?
Just started trading 2 months ago and it has been down hills for me. Really need help.
Happy trading to all
Dey-X
Must say you look cool with that baby face.
Thanks alot for the guide.If emails are allowed, it is adeogunsuji@yahoo.com.
Just out of curiousity, what happened to Zak, he sounded like someone committed to helping others. Also what do you all think of his trading systems? do they work as good as he says?
Just started trading 2 months ago and it has been down hills for me. Really need help.
Happy trading to all
Dey-XHi Dey-X
Zak is no longer active on the thread, he is involved with a project called fx500club where he teaches and uses this method of trading...
re. the system - once you are familiar with it, backtest it and backtest it and you will see there is a lot of power to it. But like all trading methodologies that require our own human judgement, you need to rely on your own skill in deciding which trades to take and which to leave. Some will always be more likely to be winners than others - and it takes time and experience practicing to become better at judging these.
2 months is not a long time - I hope you are not losing real money at this stage! Are you demo trading while you learn the ropes? If not, please do practice on a demo account before using real money, the markets are harsh on us when we are inexperienced. It can take a lot of time. I have been trading 5 years in total and only just gone full time - I still always practice new ideas out before going 'live' with real money.
I hope that is helpful and would be happy to help out if you are looking for other pointers at this stage.
Best wishes
Badger
Zak is not here for a long time, he is in fx500club this forum is dead for him.
Zak started the School of Pimpology in July 2008 then started this thread as a quick guide for people who joined late. He has devoted countless hours helping traders to learn the system for free. He deserves the break.
Salat
Zak started the School of Pimpology in July 2008 then started this thread as a quick guide for people who joined late. He has devoted countless hours helping traders to learn the system for free. He deserves the break. Salat
please could you explain this indictor thank you so much for posting
Apologies I was referring to the indicators posted by om salat
Thanks
Attached Files
Fib SR.mq4 (3.2 KB, 6 views)
FiboPiv_v2.mq4 (4.6 KB, 3 views)