It's All About The Pips...

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Nicely done, Al! My first month was huge learning curve in the room. Its gotten much easier now that i'm in my 2nd month. I've become much pickier about my trades and opt for ones that have higher probability.

Silver crosses has been where i've gotten into fantastic entries most of the time and my most profitable trades resulted from.

Would be great if Karl develops an alert for that so don't have to scan charts for silver crosses non stop.

Not much energy in the market this morning at start of London session,i typically limit my trading quite a bit at that point.

Hope everyone has a good weekend.

Alex
 
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Hi Alex

Glad u like the silver crosses on the 60min chart...Hope that video made it clear...

Its the same for me. My 2 big trades of the week were USDJPY and GBPUSD on the silver cross. Yes i played a few short term trades, losing a few (eurusd triple top.. huff) and made a few (cable double top yesterday) but 80% of my profit was made on 2 trades. Thats over 500 pips on 2 higher probability trades rather than scalping for 20 or 30 pips here and there...

Yes u have to be patient but i would prefer to be patient and make 500 pips a week than put pressure on myself to trade every second of the day and lose!

You know what to look for now and plenty more pips to come my friend.

Ok off to buy enough meat to feed an army! My whole weekend will be cooking on the barbie and jumping in the pool for a quick refresh... Oh yeah maybe the odd chilled beer!!!

Doesn't get any better!

Have a good one
D
 
My first post here.

Hi All

I am a male from Denmark, been with fx500 club for about 2 month.
I am a part time trader and can only trade about 12-14 days monthly, because of my work
I really tryed to make my short term trades from 15 mins chart but it was up and down.
I had the feelings that the days I was at work all the big moves was on, and when I was ready do trading the marked was almost dead. HMMM.
With help from Dan,Zak I have now changed my subscribsion to the Monkeyschool.

I really hope that I soon can do longer term trades. The first 2 month when I was in fx500 room I almost everyday heart Dan talking about his trading from 1 H chart.
So now I am hoping that I soon can see the right setups and made my first homerun from the longer timdframe.

I also want to say thanks for the video with the golden rules.
It really helped me to be more aware of what it is I have to look for and then be ready when setups come.

One last thing I want ask, if I after some time still get confused about how to use this strategy longer term can come here and ask for some little help.??

And to all of you who are in the fx500 room I miss you all alot, but I cant afford to be in both fx500 room and Monkeyschool at the same time.

My hope is that I can return to fx500 room later when I can make some trade from the longer timeframe.

Excuse my English. I am better in Danish.


May the PIP go your way.

Peter Sorensen:confused:
 
Gosh....
"Its all about Pips " going for a double century

Pretty fast going ...
Congrats to the thread starter (y)
 
Can anyone summarise some of the important strategies and points made in this thread?

Or is it best i read the entire thing? Or just not bother? lol

Cause this will take hours.
 
Don't bother, it's free on forex factory (the old version of the strategy is), if you actually want to "learn" it's £97 registration and £49 a month (2008 prices, I have reason to believe it's probably more expensive now).
 
Arhhhhhh my head hurts this morning.

Yes all self inflicted and got another 8 people for a BBQ today. Not sure i can cope with a mad irishman this afternoon. Think he's going to be chucked in the pool within the 1st hour. Sorry Graham!!!

Ok off for a run. Marathon training starting today...Looking to break 1 mile in under 30 minutes. Well you need to start somewhere!

Have a goodone.

D
 
fratelli said:
Hi All

And to all of you who are in the fx500 room I miss you all alot

My hope is that I can return to fx500 room later when I can make some trade from the longer timeframe.

May the PIP go your way.

Peter Sorensen:confused:
Click to expand...

Hi Peter

Good to hear from you. Don't mean to but in but wanted to wish you great success with your trading off the hourly chart, it's fab (y) We'd all love to hear how you get on and see you in the club soon!

Happy pipping to you too :)

Julie
 
danarm said:
Arhhhhhh my head hurts this morning.

Yes all self inflicted and got another 8 people for a BBQ today. Not sure i can cope with a mad irishman this afternoon. Think he's going to be chucked in the pool within the 1st hour. Sorry Graham!!!

Ok off for a run. Marathon training starting today...Looking to break 1 mile in under 30 minutes. Well you need to start somewhere!

Have a goodone.

D
Click to expand...

Wow, BBQ-tastic weekend then! I bet it's warmer where you are Dan, we all had fleeces on by 4'o'clock! A great day though and looking forward to the Cardiff Blues v Leicester semi-final this afternoon... should be good

So is the London Marathon Team FX500 going ahead? 11 months of training might just be long enough for me to sort myself out, we could post our training stats as well as our trades ha ha maybe not :eek:

Have a fab weekend and see you Tuesday
 
New pip week

Hi all,

You all might be enjoying Bank Holliday but I just can't wait to go for some 123's again during the Asian session. Am I adicted, maybe and maybe not but lets face it there is a lot of fun in making money by just pushing a button.

Wallstreet did it again at the close by rocketing up in the final 30 minutes. How come I get the feeling more and more that Bernake is doing some phone calls to certain people saying when you don't buy you won't get any bail out money anymore.

But to all things comes an end and I have the feeling that this was one of the last muscle contractions of wall street before going under again. I will look for some nice selling oppertunities in the JPY pairs.

Most of them are at the 1 hour twenty at the moment and my hopes are they will brake in the early asian session when the spreads are big so I can enter on the 123's a bit later.

Keep you informed on how it goes.

Have fun during the Holliday season while I work my but off. LOL

Erik
 
Buying instead of selling

Hi,

Against my feelings I had to buy eurjpy again for 30 pips but this is the end for tonight because it's not only Bank Holliday but the Japanese have their golden week as well. Forgot about that. Illiquid markets are a playground for stop hunters.

See you on Teusday,

Erik
 
Finaly I got my sell during the european morning. Only my first sell was stopped out because i placed my stop at the line where you see the green candle spike up. A bit stupid but went right back in after ristance was confirmed and took it to 1.3170. Now I am waiting for my 123.

See chart.

Erik
 

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Hi all

Good to see u r having a good day Davide and Erik...Excellent work.

I have stayed away from the charts and really enjoyed the UK bank holiday on the beach.

Still have a small position in long UJ and CABLE from last week.

See u tom.

D
 
Eurusd

Wonderfull trade Davide. No argument on that. Where I was waiting to sell again you went long at exactly the right moments.

But I made another winner today and that was no trade. It all becomes much easier now and relaxing to wait for the 123 up. That alone keeps the pips in the pocket instead of loosing.

See you all in London.

Erik

P.S. Doing the right thing since looking more at the charts instead of thinking what is going to happen.
 
ekanters said:
Wonderfull trade Davide. No argument on that. Where I was waiting to sell again you went long at exactly the right moments.

But I made another winner today and that was no trade. It all becomes much easier now and relaxing to wait for the 123 up. That alone keeps the pips in the pocket instead of loosing..
Click to expand...

I totally understand your view Erik. I was not looking for short until "silver cross" on 1h. That cross did not happened yet so that's why I just gave a try to a long with tight stop under WP and MP on eurusd. Price pullback all morning so for me was a nice try. Infact I did not take cable because I'd liked to see the test of WP. Prices found support in the middle of 4h20 and 60m50 in a strange no-mans-land and jump up...without me.

Anyway eurusd and cable are silvercrossing on daily, that is a strong signal!
 
Hi Davide

In cable the fall stopped just at the 4hr 20ma and then did a hammer. If you look at the 1hr chart you`ll see the channel between 1hr50 and 4hr20 an effective buy zone over the last few sessions. So I stepped in with a tight SL below the 4hr 20ma - I could lose a max of 25 but the upside was huge. And it was !!!
Well done to all who took it.
CT.
 
Good morning

Well tough day for me... I lost on CABLE (50%)and GBPJPY (25%) and made on EURUSD (50%).

Hindsight is a wonderful thing but i was 'expecting' cable to drop 50 pips through the 80 level before a big long play. I prempted the break and got stopped out. Pre empt trades can be great because u get in at great levels but when u get hit like today it is very easy to say why not just wait for break. Thats trading and i have to take it on the chin (a big chin at that).

Yes the 60min 20ma is support and yes u would usually look to buy off it..However u need to see where true support is and that is the 4hr 20ma which was 100 pips lower.

I am all flat now after last weeks longs in CABLE and USDJPY. I am waiting for my next attack in CABLE off support.

The vvvvvvv strong PMI data didnt help and i misread that figure totally. I was expecting this to come in around flat.

Nevermind...I will nail pips back later today...

Cheers
D
 
Well i am blown away by the strength of GBP...I was not expecting that kind of move today...

The ball park is changing and we are now boxed between the weekly 20ma and weekly 50ma. Should be an interesting few weeks ahead.

Speak to u later

D
 
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