Pimpology Lives On - Intensive Care for Newbies - page 8
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Gbpchf
Hi Zac,
Just wondering how you decided on the entry figure of 1.6950?
Price doesn't appear to have broken your trend line at 1.7ish.
Thanks for your great input.
Hi Zac,
I am stuck with the asian session after work here in Canada
, I know i shouldn't do that 
....
But tell me pls, what do you think of EURUSD, it just crossed 20/50, heading for the daily 50 for the third time this month. What do you think, is it going go bounce again or it can go lower, dollar is not doin' great right now ...
Where do you look first thing in the morning for your news, which site?
Thank you, cant wait for your updates
, take care ...
Hi Zac,
Just wondering how you decided on the entry figure of 1.6950?
Price doesn't appear to have broken your trend line at 1.7ish.
Thanks for your great input.Hi mate,
The long entry level was based primarily on the moving averages being in or around that level.
Please refer to THIS video for details.
I hope it helps.
I will be back inside 60 minutes with the last installments of the lessons so we're all ready to go for Monday.
I'll also be conducting live seminars each Wednesday from next week outlining the nuances of the strategy.
If you'd like to attend one of these 60m presentations at either Midday or 6pm
UK time (BST at the moment, which is GMT plus 1 hour) then please drop me a line on my private message or email which can be found at the start of the thread.
Have a good morning. I'll be back in a bit with targets & exits.
Targets & Exits
Good morning all.
Today we'll cover the final lesson before attempting to put this all together in the hope that I can help shed some light on some good opportunities for you all along with some hand-holding along the way. (now now, boys!!)
Many novices manage to turn profit into loss simply by being too greedy or by attempting the impossible.
By trying to out-smart the market you will come unstuck many times over until you eventually burn your bank.
By refusing to accept a 20 pip gain and instead, accept a 20 pip loss you have just cost yourself 40 pips. Not 20, but 40. The difference from your gain to your loss. That's how I see it and how you should too.
Let me give you an example......
Once upon a time I lived in Brighton, on the south coast of the UK.
Brighton has a massive leisure industry and all my friends worked in either restaurants or bars or clubs or pubs. I could never understand this, being a party animal at the time.
However, it soon dawned on me that with my limited income then it was difficult to go out each day spending 100 pounds on drinking when all my mates were working.
One day a friend was taken sick so I stood in for her on her shift at the local juicer.
Not only did I not spend 100 pounds, I actually earned 50 pounds for the shift and got an additional 35 pounds in tips.
it was then and only then that I realised I was actually 185 pounds better off for having not gone out on the lash!
I have never forgotten that day and still uphold this train of thought.
By also having a full-time trading-teaching job I am giving myself every chance to compound my account for the future whilst living off a modest salary.
this helps alleviate the pressures of "having to get every trade right"
Anyway, I thought I'd share that with you and hope you too can follow this example.
Pivots and moving averages are a good place to start with targeting, along with old support and resistance levels. These are pretty much all I use, although you might - to start with - just take profits at say 20 pips or 50 pips or 100 pips, whatever your risk profile might be.
Take a look at the following snapshots.
They clearly indicate support / resistance levels and represent very good places to take profits as possible reversals are likely to take place at these points.
The first is moving averages
The second is pivots
The third is previous support / resistance levels
Brilliant!
Hi PIMP! Thanks for the Course. It`s brilliant
Hi Zac,
I am stuck with the asian session after work here in Canada , I know i shouldn't do that ....
But tell me pls, what do you think of EURUSD, it just crossed 20/50, heading for the daily 50 for the third time this month. What do you think, is it going go bounce again or it can go lower, dollar is not doin' great right now ...
Where do you look first thing in the morning for your news, which site?
Thank you, cant wait for your updates , take care ...What's so bad about the Asian session? I live in Indonesia, South East Asia.
Check out my trade this morning. I banked 3/5th of each trade already. EURJPY @ 50 and 20 + pips and EURUSD @ 50 + pips. Move my stop loss to a little bit over M15 50MA or at breakeven + 1 or 2 pips. I'll banked 1/5th at 100 + pips, and as Dr. Dre said "Let it ride" the remaining 1/5th run with 300 pips trailing stop loss or @ the H4 50MA which ever is giving me positive pips when it gets stopped. See one with the 255 + pips. I entered it on the 14th.
Unlike the Euro or US seesion, Asian session is slow enough to give me time to think. After I see a trade is going my way, I usually add another trade but with smaller profit pips range. On my initial trade I usually go for +30, +50, and let ride. On the additional trade on the move I go for +20, +30, and let ride. I just started a demo session following this Pimp's new Intensive Care thread at the beginning of this week with a $1,000 standard account and now it's at $2,112 with another $500 running in open trades. If I can keep this up for another 2 weeks, I'm going live with real money!
You see? No matter what session you're trading, Pimps method WORKS!!! THANK YOU Mr. Pimp!!!
If you think the Asian session is slow, just look out for breakouts and trade the H1 or H4 time frame. After you take your position go to sleep (for me I go back to work
). At lunch time I check my position, again after work, and again before I go to sleep.
Personally, I hate the opening of the US session. Too many people trading at one time, price gets kicked around, and I got stopped or scared
out of my position.
Price just moved another 30 pips for EURUSD and 20 pips for EURJPY. I love the Asian session. Also, I can get a head start on a move that Europe and US people some times miss.
Salat
Right you are, my firend
, maybe it is just my luck, when I sit on the computer even the M1 chart goes flat 
...
I am not so experienced, maybe I have to try harder to find nice setups.
Goodd luck, your posts are veru helpful and reasuring, thank you! I am going back to study
...
Long time
Long time no see,,,,Great to have you back!
Matt
Thanks
HI ZACK,
Thanks for all of the wonderful knowledge and strtegies. You are doing a great job.
E-mail Needed
Hello Zak,
I want to attend the seminar for newbies on Wednesday... What time will be this seminar and can you please provide me information ...how to log into the seminar
Shailesh