It's All About The Pips...

[danarm]

Look at GOLD move down now... The elastic band never fails.

Got in on break of 60ma on 5min at 865 and took profit at 855 for some nice pipage.

Going to be very careful today. Hearing rumours of central banks in the market. Could become very volatile.

The sharks are out so don't dip your toes in too far...

D

 

[danarm]

Hi

Crude is playing the box well here... Would love to play break but pivot is at 95.00. One to keep an eye on but just to watch i feel.

This market is hard to read so i'm not even thinking logically behind why it moves up or down, i am purely trading what i see technically and getting in and out b4 they can burn me. I think this is best for now...

D

 

[danarm]

Oh yeah i am working on these pivots but i have to say this is my weak spot.

Dont worry if mine are slightly different as i am playing with them at the mom.

I need help...Arrrrrr

D

 

[danarm]

Crude is interesting at mom... If it breaks 96.20 the upside could look vv good. The 60min looks like the curve is turning.

Lets watch and see.

Oh i love this strategy game.

D

 

[JTrader]

Hi danarm

it might be beneficial if when you post a chart describing your trade, you insert an arrow/tick/cross on the chart to mark your exact entry/exit point.
At the moment, when you refer to an MA i for one have trouble in knowing which line is which, as you use about six. So an arrow or 2, eclipse, or rectangle, to highlight the key area in question would help i think.

Cheers.

 

[options]

Nice continuation pin bar just formed on spot gold last hour for a probable continuation up. At least into the last top area.

(I call it a continuation pin. Probably not called that but have never felt the need to know what every candle is called. Don't need to. You only need to know shape of 4 of them).

 

[JTrader]

Nice continuation pin bar just formed on spot gold last hour for a probable continuation up. At least into the last top area.

(I call it a continuation pin. Probably not called that but have never felt the need to know what every candle is called. Don't need to. You only need to know shape of 4 of them).

Yes, i do like that shape of (pin)bar myself. It tells a good story. Not that it always leads to a good profit potential. Sometimes this type of pinbar can look perfect, but then price reverses on the next candle. But that one does look like a good one due to the big size of the lower wick, the candle closing up, and making a higher high.

 

[jones4513]

Danarm:

Did you get in on some of the Euro swing? I noticed the pre-open low was finally broken to the upside after some chop...seemed to work out well...

 

[danarm]

Danarm:

Did you get in on some of the Euro swing? I noticed the pre-open low was finally broken to the upside after some chop...seemed to work out well...

You know what i didn't... No excuse really. I was concentrating on GOLD and CRUDE for some pips. It is hard to look at everything on short term but i knew i could make my pipage on those 2 this am, due to their momentum so stayed with them.

Gutted was going to enter USDKIWI but got distracted as well by my lovely daughter. So much going on and so many pips to be made!!! Need a helper...

She's only 10months but she'll be a great trader by 5....hahah pay for all those school fee's.

Hope u made the EUR ok?

 

[danarm]

Hi danarm

it might be beneficial if when you post a chart describing your trade, you inset an arrow to mark your exact entry point.
At the moment, when you refer to an MA i for one have trouble in knowing which line is whic, as you use about six. So an arrow or 2, eclipse, or rectangle, to highlight the key area in question would help i think.

Cheers.

Fair point... Ok i have a meeting this early avo but i will post which ma's are what later on..Apologies my friend.

Doing arrows and all that.... I am not sure as its a time thing... I will try..

Only getting use to trading and blogging as we speak.

Not easy and will see how it goes but can't let it distract me too much. I will revaluate at the end of next week and if it helps u all great, if not there is no much point doing it. So u guys let me know either way.

Cheers

D

 

[JTrader]

Absolutely.
Only post anything i say if it is not hindering your performance.
Alternative is not to do it in real-time but as an end of day summary, once your done.
I couldn't trade, and be posting live updates as it would hinder me, and that just wouldn't make sense.

Also, i don't see that much value in posting trade entered screenshots, very quickly afterwards, v's at the end of the day, as what has hapened has happened. And, at the end of the day, the post would serve the same educational purposes, you'd not have rushed to post it etc etc.

 

[jones4513]

Yes, I know the feeling well...watched pot never boils. Congrats on the baby girl - my 4 year old son tells me "...buy low - sell high daddy..." My wife gets a huge kick out of it...

I did happen to catch the Euro...but was surprised by the leap...I have been trying for some time to get a correlation between the Euro and something else, but all I have so far is -99% correlation with the CHF....

 

[Hemal]

hello guys,

Thought I'd update you all with a cheeky play that I took on EURUSD. It was a riskier trade as it was against the trend but with EURUSD moving north so much, a small pullback was always on the cards. I took a short at 1.4418, with a stop on the other side of R1 at 1.4440 for a quick 25 points.

Will keep you posted.

 

[danarm]

Hi all

Hope u all made a few pips on Crude. Look back at Post 8.06am. Said to go long at 96.20 and took 200 little pips. Not going to get greedy today..

Turning out to be a good week.

D

PS Hope those arrows help...

 

[JTrader]

Yes the arrows help

if/when you have the time - It might be beneficial if you just really clearly explained all of your chart settings, just the once, with maybe a few screenshots, so that followers could clearly see how it all sets up, what all the top left numbers are, how each indicator setting relates to the longer timeframe etc. and what it all means, so people have a clearer understanding, and the same questions don't keep getting asked.

Cheers.

 

[danarm]

Hi Guys

This market is scaring me...

Here is a quick explanation of my 5 min chart.

960 my 4 hour 20ma
600 my 60min 50ma
240 my 60min 20ma
60 my 15min 20ma
20 my 5min 20
CCI 63
CCI 252
CCI 4

My 60min chart...

1200 my Day 50
480 my Day 20
200 my 4HR 50
80 my 4HR 20
50 my 60min 50
20 my 60min 20
CCI 84
CCI 5

This way i can basically look at two charts and get a strong idea of trends and entry points. The 60min shows me the trend and the 5min gets me in early enough for the move. I dont rely too much on the 5min but i make most of my trading decisions on the 60min with the 5 only as an entry. The 60min has been my king chart for years!!!

I look for crossovers on the CCI's and the MA's for support and resistance. As mentioned this has been developed over the years from my standard templates but i have worked with a close friend to get to this template and we do very well from it.

The 252 is key as well and i rarely trade against him unless i really fancy it.

Ok must run... Got a friend flying in from out of town.

D

 

[danarm]

Evening all

Its been a good 8 days so a deserved sleep in is required tom am.

1,150 pips secured in the pip bank and going to take a long weekend.

Might be online for an hour tomorrow but thats all.

Have fun... Keep your heads up, as we are all going to make great pips together in the near future.

Sleep well

D

 

[JTrader]

Evening all

Its been a good 8 days so a deserved sleep in is required tom am.

1,150 pips secured in the pip bank and going to take a long weekend.

Might be online for an hour tomorrow but thats all.

Have fun... Keep your heads up, as we are all going to make great pips together in the near future.

Sleep well

D

Is that just forex pips, or do u including gold & oil in your pip count?

Cheers.

 

[danarm]

Is that just forex pips, or do u including gold & oil in your pip count?

Cheers.

I keep looking at these silly charts... Why do they become so addictive.

No that was total pips. Gold and Crude were the basis behind most of those pips. Very lucky that they had good weeks and the volatility was high.

Infact looking back Gold was the big player yesterday and Crude today... Thats 3/4 of all those pips in 2 trades. It just shows what can be done.

Yes a little luck needed but hey u need a bit of that, as well as good management of positions.

Cheers

D

 

[gedward3]

Good work with the arrows Danarm, they makes it clearer.

Watching and learning a lot from this thread.

All the best

Hi all

Hope u all made a few pips on Crude. Look back at Post 8.06am. Said to go long at 96.20 and took 200 little pips. Not going to get greedy today..

Turning out to be a good week.

D

PS Hope those arrows help...