The London Open - page 13
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300 PIP STOP
Brave or clever to trade oil today?
Good advice for newbies????????
Think you might deserve a bit of time off - make sure you are up with the larks to give us our morning analysis.
See ya tom
F
For those of you who have been trading FX for more than a year or two, is this volatility normal? Have you always been able to slice out 100+ swings daily from a pair? Or is this a recent expansion of market dynamics?
Also, I'm sorry, but I have yet to see how the exits are calculated using these CCI Zero crossing entries. ATR Trailing stops? You can't be using CCI's to get out as these seem to just fade out after their initial zero cross and direction plunge/climb.
Knowing that it CAN be done is half the battle. Thanks for instilling that confidence FXPmp and Dan.
MM
Dude, I'm sooooo glad you should raise the point of exits.
Look ar GBPJPY today, great call in the 'forbidden place we cannot speak of', but note the CCI84 on the 15m chart. We're only looking to get out of that long position if the CCI falls below the +100. In these times when Dollar sentiment changes 3 times each candle it's very important to be pro-active and to get in and out. Look at EURUSD or USDCHF. According to the rule I am preaching you would still be in those two.
How's that for some late night pimpin ?
OK, so the 100 mark boundary is good for those trades which actually see their CCIs pushed beyond these thresholds. But what if you enter and CCI never makes it past the 100 mark? Perhaps at these times the trader's brain is used as a discretionary tool for choosing profit exits.
And what of scaling? Do any of you scale in or out? Enter 5 lots at the CCI-80 Zero cross and then peel them off as you rack up profits leaving the last lot in until it needs to be pulled? Or the other way around, enter 1 lot on the CCI-21, one on the CCI-41, one on the CCI-61 and one on the CCI-81 and then pull them all off the table on your standard exit?
The plastic brain lives to learn, and learns to live,
MM
Yes Fran, I do sleep. after all my opportunity dries up. I'm very keen on FX pimpin and even now I'm in for another stab at cable (1st time trading this in a week) on the red Heiken Ashi. Shame I can't dubble my bubble on the Dutch doing the biz too. Wonder what price I'd get on EURUSD GBPUSD and Holland all doing exactly what I thought they may ? Enough for one day me thinks. A cheeky 300 pip stop secured a couple of pips on the crude, which I sadly let slip by me with that horrible smoking habit, but I'm halfway to my 1k weekly target on the pipping front on day 1 of the week, so feeling pretty good right now. Keep up the good work guys. P.S. I think it was only captain twee that didn't know that Zak and Durti Cash and FX Pimp were the same person, masquerading as some 'scammer' who just so happens to be offering free information to the masses in exchange for what? Please tell me someone, exactly what do I get out of waking up at 5a.m in order to aid you with some ammo in time for the London Open. Any thoughts other than twee's a dick would be greatly appreciated.Oh, and also. Am I SELLING signals; Have I asked any one of you for any money? Or rather am I trying to be of some assistance in this messed up FX world ? See you at early o'clock for some serious pimpin. Let's put this whole thing on the back burner, demonstrate we are bigger then that nonsense, move forward in a constructive fashion and make our revenues from pips, without being reliant on advertising. Vive le Pimp. Vive le dan
Bore Da...my fellow traders. I missed a great day yesterday! Had to dash in the morning and spent a stinking day in the city. Nevermind, plenty more pips coming each and every day. As you can see I put a request to Twee, but apparently you guys and your various alias's are Scammers. Me thinks' not! Why post such commentary. I'm done moaning now. Only going to focus on contributing to the thread to hit pips, and only hit pips
Looking forward to the open this morning - and my first beverage. What fun with crude. Ballsy (I think thats a word) to have a 300 pip sl. With my luck recently crude would have turned and just gone to 140 to play with my mind. G/J was wild yesterday. Bring on the pips, where's the first 50 of the day coming from?
Morning le pimp.
Great day for you yesterday, reviewing the charts as we do over and over again there were 8 set-ups yesterday across the pairs and gold (oil is a bit much for us at present).
3 yens in the morning with GBPCHF, and 3 dollars in the afternoon with gold.
We took one of them as you know (eurusd) so room for improvement but still positive pips, our main problem is pulling that trigger when we see the set-up. Think this is partly down to lack of funds at present, we want the pips but need to make sure we preserve our capital. Rest of the week with some good pips and we will improve. It's also partly in the mind as with all trading, we spend days going back over charts that show if we take the set-ups 8 times out of 10 they work but still somehow pulling the trigger is hard. - any advice on that front, your trigger finger seems to have a immediate twitch without a thought.
I won't post any charts from yesterday as although we use Dan and yours most excellent strategy we also have a couple of personal crutches (enhancements?) that help us and I don't want to confuse on dan's thread.
Just about to look at today.
In answer to the volatility question, we have been watching the markets for about 3 years, there are always wild times like late last year when everything is moving at extremes, and times like now with steady moves with the occasional large blip.
We have found that on this type of timeframe (15m-60m) there are always intraday moves somewhere, it is rare in my opinion when all the markets are flat and nothing is available.
On the subject of exits we tend towards Dans get in get the initial move and get out policy, although obviously when we can move up to 2 lots we can do this and leave the 2nd one running on pimps CCI 100 rule.
Good tool we have found for Dans exits is the fib retracement with 3 target levels, the seem accurate a lot of the time and give the advantege of showing you ( and your brain) set levels to aim for, the brain needs structure and a plan. We have tended to get into a trade and then think "what do we do now", this has helped. If Dan and pimp are OK with it we can post the settings we use, they may prove helpful to some people.
Morning All.
So what were we saying yesterday morning. That Gold would fall, that EURUSD would follow and that USDJPY USDCHF GBPJPY GBPCHF would possibly go up.
Well all of that happened so I hope a few of you took some pips from that. I know you got a cheeky 60-odd on the EURUSD, Fran. Very well done.
I uderstand you are based in the U.K. Why play lots with a broker and give 400 of every 1000 pips to the government as income tax, when you can play for FREE with any decent spread-betting firm.
IG, Capital, ODL etc etc. Just curious and trying to help.
Onto today. Gold is going to do one of 2 things. It's going to smash the sopport of the 4hr 20ema and continue down to $875 or it's going to find some support off this 4hr 20ema and continue up to $930.
If these guys on Bloomberg are to be beleived when they talk Crude upto $150 then the latter scenario is most likely.
It certainly looks like Crude has found some support on the highs of mid-May.
So, where does that leave us today ?
Well, bearish Gold = Bullish Dollar, so we'd expect USDJPY & USDCHF to continue up and EURUSD & GBPUSD to continue down.
I'm still not convinced Gold is on it's way out though. It's just retraced 50% of it's recent gains and could turn at any moment, which would see short positions on cable and Euro going pear-shaped along with long positions coming unstuck on USDJPY & USDCHF.
I'm waiting for some true indicaion on the Crude & Gold markets before getting excited about anything. CCI's have been up/down for a long-time and reversals a real threat to anyone holding those positions still.
I'm going to add my favourite set-up each morning, but I don't have one this morning. Will be getting long of Gold IF the 4hr CCI manages to turn back round to the upside and we see a clear break of $895, but I'm very-much on the bench as we speak, thinking it could go either way, so pointless having an opinion on the currencies, as they're going to follow like sheep.
Can anyone else make any sense of it ?
Morning All. So what were we saying yesterdau morning. Thay Gold would fall, that EURUSD would follow and that USDJPY USDCHF GBPJPY GBPCHF would possibly go up.Well all of that happened so I hope a few of you tooke some pips from that. I know you got a cheeky 60-odd on the EURUSD, Fran. Very well done. Onto today. Gold is going to do one of 2 things. It's going to smash the sopport of the 4hr 20ema and continue down to $875 or it's going to find some support off this 4hr 20ema and continue up to $930.If these guys on Bloomberg are to be beleived when they talk Crude upto $150 then the latter scenario is most likely.It certainly looks like Crude has found some support on the highs of mid-May. So, where does that leave us today ? Well, bearish Gold = Bullish Dollar, so we'd expect USDJPY & USDCHF to continue up and EURUSD & GBPUSD to continue down. I'm still not convinced Gold is on it's way out though. It's just retraced 50% of it's recent gains and could turn at any moment, which would see short positions on cable and Euro going pear-shaped along with long positions coming unstuck on USDJPY & USDCHF. I'm waiting for some true indicaion on the Crude & Gold markets before getting excited about anything. CCI's have been up/down for a long-time and reversals a real threat to anyone holding those positions still. I'm going to add my favourite set-up each morning, but I don't have one this morning. Will be getting long of Gold IF the 4hr CCI manages to turn back round to the upside and we see a clear break of $895, but I'm pretty-much on the fench as we speak, thinking it could go either way, so pointless having an opinion on the currencies. Can anyone else make any sense of it ?
Thank Pimp - I have been looking at Gold this morning. Not convinced it will travel down (just yet). Green candle formed suggesting perhaps retracement. But too early to tell. Your advice of sitting on the fence although uncomfortable is the right advice. We shall keep looking for trades but lets keep thinking 84cci.
Rockdrive
p.s. Holland where immense last night, whata game
Hi pimp,
Like you we do use spread betting firm (capital spreads), I just used the term Lots to mean more than 1, so for someone trading at £2, 2 lots would be £4.
Just wish the spread on GBPJPY and GBPCHF was less than 8.
Morning Pimp, morning all
Thanks for the analysis Pimp.
We are UK based and we are with a spread betting company - no tax or brokers for us, oh no.
Yep, 61 pips actually on EURUSD, still chuffed, hope to add a few more today.
Fran