It's All About The Pips...

[danarm]

Well done Erik...

I have just closed out my CABLE for flat...

DOW bid, USDJPY dragging GBPJPY.

 

[danarm]

Glad i got back in time...It looked like it would punch lower for a few (as it did) but i didnt set a TP.

See u tom.

 

[danarm]

My market remains in spectacular form with credits tightening anythingfrom 25-150bp. It wasn't that long ago I used to get excited about a 5or 10bp move and yet nowadays a 150bp move is just taken in its stridelike a normal trading day. Despite this amazing rally many of the cashbonds out there still look very cheap to CDS so a continuation of thisrally is still on the cards. Strange goings on with the new Gaz deal.What is obvious is that its not a vanilla deal there seems to be allsorts of smoke and mirror moves from the lead into the street. I thinkthe bottom line is that despite the rally of the last few weeks, gettinga 2 yard Gaz deal done at 9.5% is not happening without a decent rallyfrom current levels. Once cash catches up to CDS I would then expectthe floodgates to open however we haven't reached that stage yet.The big wide world apparently is still fine, JP's headline numbers weresurprise surprise stellar and the feel good factor is still therealthough it feels like stocks may a take a breather here. The market isset up to be ok for the near future, the key question to all of us nonbelievers is, what will cause the next shank? Of course technicals aremuch worse than they were 6 weeks ago, a good chunk of shorts are closedand now some optimists are even super long calling the end of the bearmarket. As I have said many times in the last 6 weeks I hope I am wrongon this but I am 100 per cent sure this crisis is far from over and atsome time this year (maybe not until end of q3-q4) the volatility willreturn. For now we should enjoy this bull market and make hay while thesun is shining!

Mr P.........

 

[Tenapenny]

Well done Ken.

RS

Thanks Fran. Let's hope it's not too long before you can trade full-time. I might need your help when you are in the room as sometimes I get confused. But not today.

 

[danarm]

Argh...Silly closing that CABLE trade last night.

I should have nailed that.

D

 

[pelzar]

morning!

 

[danarm]

Good morning all

A good end to the week with many of you making between 50 and 120 pips.

I got the least amount of pips in CABLE at 50 but still happy with that. The guys in the room completely destroyed me with 30 to 40 more as i waited for the break below 50!!! Maybe you can help me out next time and share your pips...

Some took GBPJPY and CABLE together and nailed over 100 pips!!!

You now know what i am looking for in CABLE, GBPJPY and EURUSD longer term. 1000s of pips to come our way over the next couple of weeks swing trading.

I hit EURJPY on break of support as explained in the room and great to see alot of u are in this trade. I see some of u have already banked 50% at 25 pips and u should be up another 50 pips now on the balance.

Well done guys and got some great pips in the bank. Another 100 pip day and glad to see so many of u getting there.

Speak to u later.

D

 

[danarm]

MORNING NOTES

Good morning

Its Friday!!!

CABLE
• Head and Shoulders on 60min chart and GBP looks weak again below the 4hr 20ma.
• Looking for small pullback to the 1.4880 region for short with stop at 1.4915
• If not looking for break of the neckline at 1.4845 (This would be reduced stake as wider stop)

EURUSD
• Broken MP and EUR is weakening.
• Looking for pullback to the 1.3125 region for short with stop at 1.3155
• I will need to see double top on a 5min chart after the pullback for confirmation of a short.

EURGBP
• Still short and hard to enter at this level.
• Best to play CABLE or EURUSD

 

[danarm]

EURUSD short through break...

As explained in the room i will be holding the balance now (50%) after banking 40 pips on this.

I like EURUSD lower. Just look at the charts...By banking 50% i can widen my stop out and run this for a bit.

D

 

[althefish]

Hi all,

Well, it's been an interesting first week in the liveroom for me!

Really enjoyed winning a few pips and it's telling that when I have lost pips it's been out of the room and with hindsight I can see exactly where I've gone wrong (eg. shorting cable again after a minor retracement only to get stopped out as the retracement continues, should have been patient doh!). Loved the cable trade this am and was lucky to have a trading slip open and quick fingers when it broke

Anyway, I'll finish the week comfortably up and very happy that I'm off to a good start. It'll take a while to get up to speed but this has to be the best place to learn the ropes.

Excellent seminar on indices gap trading from James in the Monkey School this morning; it's all new to me but it does make sense and an extra string to the trading bow has gotta be a good thing.

Thanks Dan, Zak, James & co, see you on Monday

Al

 

[danarm]

A great afternoon all round.

Well done.

Ok i am off and see u all on monday.

D

 

[danarm]

Hi all,

Well, it's been an interesting first week in the liveroom for me!

Really enjoyed winning a few pips and it's telling that when I have lost pips it's been out of the room and with hindsight I can see exactly where I've gone wrong (eg. shorting cable again after a minor retracement only to get stopped out as the retracement continues, should have been patient doh!). Loved the cable trade this am and was lucky to have a trading slip open and quick fingers when it broke

Anyway, I'll finish the week comfortably up and very happy that I'm off to a good start. It'll take a while to get up to speed but this has to be the best place to learn the ropes.

Excellent seminar on indices gap trading from James in the Monkey School this morning; it's all new to me but it does make sense and an extra string to the trading bow has gotta be a good thing.

Thanks Dan, Zak, James & co, see you on Monday

Al

Hi Al

Good to see you have enjoyed the 1st week. You have joined at the right time and we are moving forward as a team very well now...

Please shout if you have any questions as i'm happy to help where i can..

Saying that it seems most of you out traded me by 30 to 40 pips this am in CABLE...I am slacking!!!

Again we will continue to give direct entries, with direct stops and profit targets. That way there are no mistakes.

Infact cant wait till monday after finshing wednesday, thursday and friday on such a high!

BBQ is roasting, wine is chilled and looking forward to chilling with the wife.

See you monday.

D

 

[poog123]

Which broker do you use? Any recommendations?

Thanks. Sam

 

[Vaco]

Danarm,

Which part of the thread should I be reading to get an idea of what the set ups are and how do i get in to the 'room'?

 

[ekanters]

Pips

Hi all,

Another great day with pips. The first one was the setup by Dan in gbpusd which I took 3 times in a row. Also the eurjpy taken by my wife was fantastic. Little bit ashamed because my wife is doing better than me. The second part was Zak with usdchf and eurchf.

Lots of pips again with the team. I feel great ahead of the weekend.

Erik

P.S. Zia is taking all these cheeky trades. It ads up a lot.

 

[Tenapenny]

Hi all,

Another great day with pips. The first one was the setup by Dan in gbpusd which I took 3 times in a row. Also the eurjpy taken by my wife was fantastic. Little bit ashamed because my wife is doing better than me. The second part was Zak with usdchf and eurchf.

Lots of pips again with the team. I feel great ahead of the weekend.

Erik

P.S. Zia is taking all these cheeky trades. It ads up a lot.

Erik, you could become a kept man!

Ken

 

[althefish]

Which broker do you use? Any recommendations?

Thanks. Sam

Hi Sam, I'm pretty new to this myself but can't fault IG Index so far if it's spreadbetting you're into. My wife Julie uses IG and ODL and also rates Finspreads. Hope this helps.

Regards,

Al

 

[Rollingstone]

Spreadbetting

Which broker do you use? Any recommendations?

Thanks. Sam

Hi Sam

I don't have any experience of trading with brokers, only spreadbetting companies.

If you are just starting out, as Al says, you could try the IG Index Trade Sense course which allows you to start trading at 10p, moving on to 20p then 50p and upwards from there. City Index also have a similar course called Party Markets Find Out About PartyMarkets - Your Spread Betting and CFD supplier which also allows you to start at 10p and again progress upwards from there.

I have used Capital Spreads without any complaints and I also like the trading platform with TwoWaySpreads Twowayspreads | Financial Spread Betting | Online Spread Betting which is internet based rather than having to download a separate programme. They also have all the majors for demo trading.

I have also looked at CMC but personally found them to be really slow.

Hope this helps and good luck with your trading.

RS

 

[ekanters]

Higher stakes

Hi all,

I think I am going to increase the stakes but at the same time lower the amount of trades. That last row of 9 good trades has been a bit of a lucky shot. Not because the trades were wrong but sometimes the markets goes against you before you know it. The more trades you make the bigger the risk becomes. Often there is one big move on the day and with trading that move multiple times you could get hit by fast and big moves against you.

THX all,

Erik

 

[jel31]

Hi all,

Another great day with pips. The first one was the setup by Dan in gbpusd which I took 3 times in a row. Also the eurjpy taken by my wife was fantastic. Little bit ashamed because my wife is doing better than me. The second part was Zak with usdchf and eurchf.

Lots of pips again with the team. I feel great ahead of the weekend.

Erik

P.S. Zia is taking all these cheeky trades. It ads up a lot.

Hi Erik

I know how you feel, my hubby has done better than me this week

Time I stopped slacking! Discipline Discipline Discipline........

Another great week and a great team, thanks all.

Julie