It's All About The Pips...

[PaulKing]

Congratulations

WOWSER!
I'm so happy today.
Passed 2 of my CIMA exams,
and at the same time : 120 pips!!!

Really chuffed, thanks Dan, Zak, James, Nicola, everyone!
Kapil

Hi Kapil
Congratulaions on those exam results - I'm impressed you have the time to learn to trade as well as sit professional exams and do a full time job.

Your trading looks to be improving day by day too so all in all you deserve to be feeling good. It would be nice if a few more people were more positive rather than complaining & worrying about all of the negative press we are bombarded with from the media. You are a good example to all of us!

keep it all going
best
Paul

 

[obrosovo]

forex robot/stragegy

i need forex robot/strategy

 

[danarm]

Good morning all.

Yesterday was a pretty good day with all the Yen & Swiss pairs playing ball for a change.
This morning sees us looking to buy some Yen over any currency we like. Really is a lucky-dip at the moment.
My pick of the 3 we cover at present would have to be for a short USDJPY, which hasn’t fallen too far through the support region.
IF I can get an entry at around 88.70 then I would take a small one with a stop abovee the pivot, which sits at 88.95.
GBPCHF is also looking good to the downside. A break of the WS2 level arounf 1.5830 could see this fall further so watch for that break.

GBPJPY-Missed this by a few hours and can’t really touch it right now. Needs to break below 121.00 for continuation.

EURJPY-A Break of 114.00 is the level here for a downside play. Keep an eye on both USDJPY and EURUSD to confirm.

USDCHF-Pretty strong the last few days I wondr what’s next here. Bit of a tricky one this session but a bounce off pivot and 60m 20ema at 1.1550 might see it higher. don’t trade EURJPY and this pair in the same direction at the moment as they seem to be travelling in opposite direction quite a lot lately.

EURCHF-Still looks pretty weak from yesterday. Needs to break 14955 (60m 50sma) to give the green ligh, but with traffic below it’s not one for the shortlist for me.

To Summarize. Let’s look for potential shorts on GBPCHF & USDJPY
Have a great day.

Zak

 

[danarm]

Good morning all



EURGBP – 15min ascending triangle forming. Look for break on upside from 0.9420 to DR1 at 0.9450. With GBPUSD potentially back on its run down EURGBP could make another push higher. Any break below the 60min 50ma would signal a pullback and look for the gap to fill between the 60min 50ma 0.9365 level and the 4hr 20ma at 0.9310.



GOLD – Any ideas..? Its been very messy. Wait for break of larger levels. $900.00 and $800.00



AUDUSD – Looks weak again. Will GOLD get pulled down by AUD I ask? A break below 0.6450 would signal a move towards the WS2 at 0.6300.



EURUSD – A double top on the 60min chart. A break of the previous low at 1.2900 would signal further downside for the EUR. A break here would see a move to the WS2 to begin with at 1.2857. Any support today would need to break above the 1.3030 level but looks unlikely at the moment. It is Friday so positions might get closed this afternoon so be aware this pm.. Still like EUR lower but lets see what this morning brings.



CABLE – There is a 60min triangle. Glad we stayed away from the 1.3700 short yesterday. GBP saw a bounce back up to the 1.3950 level before weakening over Asia. Expect further weakening today with potentially weak GBP figures out this am. They will basically confirm that the UK is in a recession. Don’t think we need confirmation of that to be honest!!! We know already…Look for a break of the DS1 but be careful until we get the trigger back inline. It might be worth holding out until these figures. Lets see…



USDCAD – A break below the 15min 50ma should see a move to the previous low at 1.2510. Tight stop



That’s all I am looking at today. Watch EURJPY for weakness as EURUSD will follow and watch GBPJPY for weakness as CABLE will follow.



Speak to you just after 7.00am.



Dan

 

[danarm]

Use a rolling stop loss in CABLE..

Couldnt resist

 

[danarm]

CABLE - Picture attached

Banked part at 35.

D

 

[danarm]

will stop out balance if breaks above teh figure

 

[danarm]

Banked again at 06

 

[danarm]

out cable..not getting greedy

 

[danarm]

Cable

 

[boodi]

Dan
where to put "sounds" and " cci_SoundEmailAlert_mtf.mq4 ?

Thx

 

[Kappa]

Kapil

You deserve it... Well traded and keep up the good work.

D

Hi Kapil
Congratulaions on those exam results - I'm impressed you have the time to learn to trade as well as sit professional exams and do a full time job.

Your trading looks to be improving day by day too so all in all you deserve to be feeling good. It would be nice if a few more people were more positive rather than complaining & worrying about all of the negative press we are bombarded with from the media. You are a good example to all of us!

keep it all going
best
Paul

Thanks guys

Certainly wouldnt have been able to do it without everybody's help. I learn by doing, and its working!

Update for today +47 pips

1st Week total : 263 pips

I really can sound like a noob when I'm raving about you guys, but its all true!

Paul yep my days are pretty full up, especially with gym nearly everyday, but hey, it keeps me out of trouble and yes it's very dull when people are moaning! Be positive! (is that....bullish behaviour i see in me?!) haha

Just a shame I miss out on NY open. As said before a laptop will soon fix that!

 

[danarm]

Afternoon all

Well its been a great end to the week.

The likely retracements came into play this afternoon.

Watched CABLE break the resistance at 1.2820 and EURUSD break 1.3640 for the upside. We also looked at USDCAD on the break from 1.2565.

Well done team 500. Great trading, great results and great team work.

Enjoy the weekend.

Dan

 

[TWOHATS]

Well a nice end to a decent week 150pips spread over 3 pairs today and i know once i learn to turn off my computer after the end of the session i will have a very good weekly pip count but in my keeness to keep tradeing and learning i have a tendency to keep giving em back on silly trades. But I'm still in the learning curve (only been in the room just over a week)and if you dont trade with real money you never really get true results so really looking forward to Monday and another increase in P/L (my first for a while lol)and all down to Dan and the Guys so thx again and have a great weekend.
Andy

 

[danarm]

Good morning all

Thanks for all your positive emails...It really gives me a lift reading all your testimonials and your kind words...

However I did want to clarify on one thing. I still feel that too many of u are putting added pressure on yourselves by comparing how many pips you made to others. Does it matter that the legend Rockdrive makes 200 pips in one day? Does it matter that Nicola makes hundreds as well? Does it matter that the FXPimp eats pips for breakfast? The answer to the question is NO!!! This is not a competition with others...

This is the most individual business u will ever have. Its you against the market and no one else. I dont compare my pips to the FXPimp or to James or to anyone...I quite simply dont care. As long as i hit my targets i am happy and thats what is important. I didnt trade on friday afternoon not because i couldnt, i could see the breaks and retracements happening but i was happy and content with my pip count.

All you need to do is listen to us, watch your charts, decide on an entry and make pips. Do not worry if others are in b4 u or got out b4 u. Its your book, its your business plan, its your decision and dont waist any energy worrying what others have made or lost.

You all have different plans and i cant tell u how great i feel when i get an email saying they are elated that they made their 1st ever 100 pip week. Now that makes me happy!!! For them that is great and thats what its all about. You are all individuals and work to your own plans and do not worry about anyone else and what they are doing.

Yes its great to see people making lots of pips but I am more concerned about the guys who arent and when the school is up i will be working closely with them and give them the confidence they need to hit the trigger at the right time. This will be my main priority and and to get everybody up to speed...

Anyway enough of that...I hope that makes sense.

Off to Ikea this am...Huff!!! Then picking the misses up and my beautiful girl from the airport so looking forward to that.

Have a great weekend.

D

 

[Rollingstone]

Words of wisdom

Afternoon Dan, everyone

To me, these are the best and most encouraging words you have ever posted, and the most valuable lesson you could teach us all.

I started out as Dan's student at the same time as the legendary Rockdrive and I know he won't mind me saying that it took him many months to perfect the strategy and find his trading feet. He is a legend now, but even the great Rockie has his dumb trade days and some of his best posts are describing where he went wrong. (His worst post is bragging about Wales beating England at rugby - yeuuuch).

As you say Dan, it's not about the amount of pips other individuals make, it's about personal satisfaction and achievement and allowing yourself the time to learn the strategy at your own pace.

When I found Dan I knew nothing, I mean really nothing (Dan will readily testify to that!) and the more I learnt from Dan and FXPimp (Zak) the more I realised I knew absolutely nothing. It took me a long, long time, a lot of dumb questions and a lot of dumb trades to get to grips with every aspect of trading and I would have given up in despair many times if it weren't for Dan, Zak and other friends I have made along the way.

So I would like to add the most valuable lesson that I have learnt for myself over the time I have been with Dan, and this is the importance of really learning and understanding the strategy for YOURSELF, don't blindly follow other successful traders in the hope that their success will rub off onto you.

It is only when you learn to read the charts and are confident with what you are seeing for yourself, and make disciplined and intelligent trading choices within your own comfort zone that you really become a successful and personally satisfied trader.

Find your own benchmark at your own pace, work hard, listen to Dan and success will surely follow.

Enjoy your weekend, enjoy your trading.

RS

 

[Tenapenny]

Thanks for your post RS. It gives me hope.

 

[Kappa]

Fantastic words spoken in the last few posts.

I'd like to say that it follows in most parts of life to find your benchmark, your target, work hard, listen to experience and yes success will surely follow!

I've just ended a fantastic (to me) first week. I am very very confident, and downturns in the past in other areas of life havent really phased me and I have learnt to learn from them. No doubt I will hit some down spots, everyone does, but thats just the learning curve!

Its been a long time since I have looked forward to a Monday!

 

[TWOHATS]

I honestly cant remember a time in the past (other than xmas morning as a kid) that i have really looked forward to getting up at 5.30 in the morning and i dont even need to lol i could stay in bed another hour and still be in time for the live room but i just cant stop in bed since i started ha ha.

Roll on Monday morning!! (although it annoys the hell out the missus keep waking her up early)

 

[danarm]

Bring on monday morning then...

One last point b4 i head to the office and put an ikea desk together. Could be there all day!!!

As u all know this is a great business model but takes a little time to master. All i can say is too many give up when it starts to get tough. You need to get over many hurdles as a trader before success and you cant cheat on that...Fear and greed are only two of the hurdles but if u learn from these u won't make the same mistake again...

I cant tell u how many times i have said that trading is not for me...But my determination, hard work and stubborness to succeed made me want more and more and now i make a few of those cheeky pips each day.

As a business model the costs are so low and the potential so huge that it works..Like a few others have said in the room the best investment you could ever do as a trader is buy a few screens. Why hinder yourself with one...You need to give yourself that extra advantage as a trader and whats an extra 70 quid on a screen...It will help u so much...

It will come, just give yourself time and dont worry about others and what they do. You are the important one and you must hit your own targets to be happy.

Lets have another great week.

Ok i am off...Great work guys..

See u tom at 7.00am.

D