It's All About The Pips...

[elitejets]

A quiet end to my week.
My habit of sometimes staying in trades too long means that retracement trades are really dodgy for me, so I had a quiet couple of days with some losses and some wins.
Still up over 1500 pips for the week and I am not sure when another week like this will come along so I am happy to be out and saving my pips.
Thanks for all the support, I could not do this without you guys.

 

[gamma]

It is very refreshing to come across a website that actually delivers the goods.
The guys in the room are great, very helpful and honest, You don't get the old "here's one I baked earlier "scenario like you do with a lot of so called professional traders.

They don't hold your hand. ( Although being the nice guys they are they probably will if you ask them)
All you newbies, who go around paying 1000's for courses, from dodgy traders who probably never traded, will benefit more by spending a week there, than anywhere else.
I have been trading for 10 years and found useful information to complement my trading.
These guys are the best!!!

 

[elitejets]

I am addicted to trading

OK, I know I said I was calling it quits but I am watching crude oil

If OIL breaks this trendline and the 4hr ma's it is a lovely drop to the lows. WTI OIL will do the same, although it doesn't look the same on the charts because it closes different times and is out of whack.
Will see if the Dow drops and sends oil down too. The dow is dropping ...
Nicola

 

[danarm]

Gamma

Pleased we can compliment your trading...

Thanks for your kind words.

Have a great weekend

D

 

[TWOHATS]

Thanks Guys day 2 and pulled 100 points out the dow and 20pips out the £/$ so a great end to the week(although a quick nip to the lav saw me lose 40 pips out the gbp/yen when you had all exited lol) and i feel i am picking up your trading strategy fairly quickly as its so much easier watching you in the room explaining your reasons for entry etc. Top class.
thx again guys
have a good weekend
Andy S

 

[elitejets]

OIL update

OIL broke the pivot and the trendline and I am still in +74. I did not meanto hold it but I had to go out and leave it and the market closed.
Here is the 15min chart - I entered as the ma's crossed. Not the perfect trigger but I liked the cross.
I would not have needed such an ugly stop if I had waitied for the 1-2-3 (shown nicely here) but I was not able to wait.
As long as no one declares war on anyone this weekend should be OK!

 

[pmxgs0]

Thanks

Zak is a professional trader and one of the teachers at fx500, he covers different pairs to Dan.
The strategy is the same and it really works ...
Lots of luck to you

Thanks for the encouragement.
I'll do my best to study this trading strategy/method.
I must admit that I've been a little "lost" in the past couple of years with the amount of information regarding strategies and techiniques in trading.
It's really good to know that other people have good results with this approach.

Keep making some pips

 

[danarm]

Thanks Guys day 2 and pulled 100 points out the dow and 20pips out the £/$ so a great end to the week(although a quick nip to the lav saw me lose 40 pips out the gbp/yen when you had all exited lol) and i feel i am picking up your trading strategy fairly quickly as its so much easier watching you in the room explaining your reasons for entry etc. Top class.
thx again guys
have a good weekend
Andy S

Nice trading Andy...

Keep up the good work. Its all about momentum and when u start building days like that the pip count at the end of the month looks vvvvvvv healthy. Start averaging over 1,000 - 2,000 pips a month and then u can then slowly increase the risk. Well done...

See u monday.

D

 

[danarm]

Thanks for the encouragement.
I'll do my best to study this trading strategy/method.
I must admit that I've been a little "lost" in the past couple of years with the amount of information regarding strategies and techiniques in trading.
It's really good to know that other people have good results with this approach.

Keep making some pips

You are not alone with being lost when u first start out as a trader...Everyone is and u tend to go round in circles for ages and try a million and one strategies. Keep practicing this strategy and it will all fit into place soon. It takes commitment and a few setbacks but when u nail it the pips keep flooding in...

Have a good weekend.

Dan

 

[danarm]

Hi all

Really glad that a few of you are posting on this thread...Please keep it up and post results and examples of trades etc etc..I am sure it will really help the newbies who are starting out..

Beautiful day here. Wife back in london so went Go Karting with James...Do wind him up on monday as he was 1 1/4 seconds slower than my fastest lap...All he saw was the back of my head!!! No competition really... hahahaha!!!

Awesome track down here...

See u monday.

D

 

[TheMonkey]

About time I made an appearance

Hi all

Really glad that a few of you are posting on this thread...Please keep it up and post results and examples of trades etc etc..I am sure it will really help the newbies who are starting out..

Beautiful day here. Wife back in london so went Go Karting with James...Do wind him up on monday as he was 1 1/4 seconds slower than my fastest lap...All he saw was the back of my head!!! No competition really... hahahaha!!!

Awesome track down here...

See u monday.

D

Ahh Mr A,
We wont have lies like that again please seem to remember i slowed down three times to let the three slower carts past only to overtake all three on the next corner. Dont worry practise makes perfect.
Monkey

 

[TheMonkey]

Will be an interesting start to the week with Obama taking the helm i have put some orders in on the dow to the upside a break of 8350 and I'll be in.
Lets see what the man can do !! Personally I think short term rally back to the 4 hourly MA's then another large move to the down side and possibly breaking the November lows.
Have a great weekend

 

[danarm]

Ahh Mr A,
We wont have lies like that again please seem to remember i slowed down three times to let the three slower carts past only to overtake all three on the next corner. Dont worry practise makes perfect.
Monkey

Mmmmmm... I think u had a bump on the head as well and forgot what race u were in.

Usually a win is when u finish 1st and also when u get the fastest lap by 1 1/4 seconds. Am i mistaken???

I have the report infront of me and it says quite clearly that u even came 3rd...

U must be a little mortified with a bronze. All this chat for 12 months and u come 3rd. Youth of today hey!!!

D

 

[TheMonkey]

i suggest you copy that document onto the thread as i dont think anyone one will believe you.
Old age is a horrible thing

 

[danarm]

i suggest you copy that document onto the thread as i dont think anyone one will believe you.
Old age is a horrible thing

Mmmmm ok will do on monday...

To begin with...Lap Time & then Fastest Speed

Kart 19 (Me) 1.30.750 - 62,995 kph
Kart 06 (Young Random Bloke) 1.31.089 - 62,761 kph
Kart 23 (Monkey) 1.32.027 - 62,121 kph
Kart 08 (Older Random bloke) 1.37.049 - 58,906 kph

Youth can never accept when they lose!!! Accept it, move on and lets get back to the track next week. You are going down again monkey boy!!! It will be 2-0 to the Silverback... Will bring the Pimp along to judge...

D

 

[Rollingstone]

Whippersnapper

Hellooo young Monkey Boy

I don't know, come on to Dan's thread and you're causing trouble within 3 posts. Tut tut, these youngsters don't know when they are beaten.

But, you are still King of the Indices Monkey even if you're a flop on the race track. No-one ever remembers who comes second, let alone third!

I'll come and moderate for you next time Dan, I quite like the sound of the Young Random Bloke.

Thanks for another week of fab analysis.

See you tom.

RS

 

[Rollingstone]

The Holy Goat

Thanks for the encouragement.
I'll do my best to study this trading strategy/method.
I must admit that I've been a little "lost" in the past couple of years with the amount of information regarding strategies and techiniques in trading.
It's really good to know that other people have good results with this approach.

Keep making some pips

Hi Pmxgs0

I spent about a year going round in circles, getting more and more frustrated, trying every indicator under the sun and looking at every strategy I could find for one that not only worked, but suited me personally.

Then I came across Dan's thread and realised that at long last not only had I found a strategy that gave consistent results but also the best trading mentor and teacher you could wish for. People often say they are searching for the Holy Grail in trading, well Dan is that Holy Grail (or Holy Goat, not sure which). :innocent:

So please do keep persevering with the strategy, it really does work and as Dan says, once it clicks the pips will flow - and you get to meet some great people along the way.

Best of luck,

RS

 

[danarm]

Good morning all.

It’s Monday and I am hungry for pips!

EURGBP – The EUR weakened last week but recovered its losses on the Friday. EURGBP is in a triangle and use the DP at 0.8950 as the point of support. Any break below here would signal a test to the DS1 level at 0.8865. A break above 0.9005 would signal a test to the highs of last week at 0.9060.

GOLD – Key support now at $800 and boy do I hope this holds…The 60min chart looks good for the upside with support at the MP at $835.00 We spoke a lot about this on Thursday and Friday. Previous high is at $845.00 and a break here would signal a move towards the $852 DR1 level. Triggers are too high at mom on 15min chart so will be patient for a small pullback. The DP, MP and WP all below as support. Look for next trigger on upside on 15min chart.

AUDUSD – Higher highs and higher lows…GOLD finding support so AUD should as well. Any break below 0.6650 would signal a retest of the lows but if GOLD continues to find support look for AUD to break the 4hr 50ma around the 0.6900 level for a 1st attack on the 0.7000 level. &0min trigger key…

EURUSD – The EUR is very confusing to me at the moment. Everyone I speak to has a different view. You could argue its strength compared to say the UK but u could also look at potentially Germany pulling out and the unemployment in Spain etc etc and think of its weakness. Let’s trade the technicals and at mom we are boxed in between the daily 50ma and 20ma. Strong resistance at 1.3500 and 1.3760. A break below 1.3200 would signal a retest to the lows at 1.3000 and would potentially see GOLD back down at $800.00 if EUR retests there. A break above 1.3400 could see 50 + pips on the upside until 1st resistance.

CABLE – A 4 hr triangle is forming…This is the bigger pattern and watch break as when this breaks we will see the next big move. The 60min chart shows a tighter triangle and a break of 1.4920 should see a stronger move to the WR1 at 1.5100. Not looking for any downside play unless we break below the 4hr 20ma.

Happy pip hunting…

Dan

 

[danarm]

Good morning all. I hope you've had a lovely weekend and once again, ready to do battle.

Onto today's action...

USDJPY-Has managed to rally up through the 4hr 20ema, which is quite close to crossing north over the 50sma. Still unconfirmed for a longer-term long play I'll be sitting out of this until the monthly pivot is breached at the 91.10 level, so look out for that level before rushing in.

GBPJPY-Has had a good run but as is the case with USDJPY we are wedged in between the weekly and monthly pivots. 136.00 is the all important level to be broken here to see this a bit higher. On the downside it needs to break 133.00 (4hr 20ema & 60m 50sma)

EURJPY-again, has had a nice run and needs to break monthly pivot to get the all-clear for a longer-term play north. Too many obstacles up there below the 125.00 level, but a break of that might see this higher.

USDCHF-Banging her head against the weekly 20ema all last week there's nowhere to run for the Swissie. Boxed in between the daily 20 & 50 this could go anywhere. Needs to break 1.1100 for move south or 1.1300 for move up.

GBPCHF-Has definately no made a higher low on 4hr chart and looking quite well supported off the daily/monthly pivots and m.a's.
A convincing break of 1.6700 could see this target the daily 50ema at 1.7200.

EURCHF-Can't touch this on the downside with m.a's and pivots below but needs to break previous highs of 1.4920 to make headway to the daily 20ema at 1.5000

Summary - Watch for EURJPY to fall through the daily pivot and 60m 20ema 120.70.
with USDJPY struggling these yen pairs will not have an easy task making noise to the upside.
Play the break or 123 on short-term timeframe.
Looks to be a potential in GBPJPY too. IF it can break the 60m 20ema this may fall back to the weekly pivot.

Have a good morning.

Zak

 

[danarm]

Morning all

It all kicked off this morning with CABLE and GBPJPY all breaking vvv quickly from the 60min 20ma's down to their respective 4hr 20ma´s. The 4hr 20ma will be a solid support for these charts and unless we see a solid break and a 123 pullback i wont be hitting them short here.

I missed the gap fill in CABLE to the 4hr 20ma and thats the way it goes. Will be patient to wait for next trigger on 15min chart.

Do not worry if you miss a trade..There are plenty of opportunites in this market.

Its friday bank holiday and i am off from lunch time.

See u tom.

D