Ftse day trading system from piptastic

[COINMOUNTAIN]

Hi
I assume you understand macd ,pivots and 00 and 50 levels.If not read up on this site and babypips.You can always demo trade until you learn the ropes
regards <Michael

 

[bigphil22]

Understand & understand. I only feel I can understand something if I can explain it to someone else, which in this case means no, I don't. But I'm reasonably bright and I can learn.

 

[bigphil22]

Ah well, clearly there's a good deal more to this that I can manage at the moment. I followed the instructions as I understand them in the material I got and I have lost every trade so far. Now this is down to my lack of knowledge and to the fact that I have missed a couple of winning trades. And possibly because of the fact that the FTSE has been on a 2 year high. However, I shall persist and see how things pan out. I signed up for the evening sessions and I'll report here if that helps me at all.
I'm glad that I did't go in with a busload of money with the idea of making 10 pips a day from the get go :-D

(I even missed a winning trade while I was typing this... dammit :-D)

 

[COINMOUNTAIN]

Ah well, clearly there's a good deal more to this that I can manage at the moment. I followed the instructions as I understand them in the material I got and I have lost every trade so far. Now this is down to my lack of knowledge and to the fact that I have missed a couple of winning trades. And possibly because of the fact that the FTSE has been on a 2 year high. However, I shall persist and see how things pan out. I signed up for the evening sessions and I'll report here if that helps me at all.
I'm glad that I did't go in with a busload of money with the idea of making 10 pips a day from the get go :-D

(I even missed a winning trade while I was typing this... dammit :-D)

hi
Having traded for years using many of Damon's methods, none of which is new, it is not difficult to achieve 10 pips a days and allow your account to compound into a reasonable amount a day to live by.
As has always been the case its about greed and fear.
If you prepare for trades by ensuring that as many weapons are in the right order.
ie pivots , 00 levels ,macd,bollinger bands and stochastic then at least 3 times a days there would be a trade in any pair or indices then you will win.
I also use advanced charts and set alarms on areas where i see possibilities of a trade.
I sometimes just take 5 pips on a trade if the follow through does not look strong.
Believe in yourself and overcome any negativity you may have.
i took a big hit yesterday on a wall st trade when i got caught in a spike, i take all things in my stride and will be back again on monday
good luck Michael

 

[SanMiguel]

hi
Having traded for years using many of Damon's methods, none of which is new, it is not difficult to achieve 10 pips a days and allow your account to compound into a reasonable amount a day to live by.
As has always been the case its about greed and fear.
If you prepare for trades by ensuring that as many weapons are in the right order.
ie pivots , 00 levels ,macd,bollinger bands and stochastic then at least 3 times a days there would be a trade in any pair or indices then you will win.
I also use advanced charts and set alarms on areas where i see possibilities of a trade.
I sometimes just take 5 pips on a trade if the follow through does not look strong.
Believe in yourself and overcome any negativity you may have.
i took a big hit yesterday on a wall st trade when i got caught in a spike, i take all things in my stride and will be back again on monday
good luck Michael

You guys take 5-10 pips a trade on spread trades?
So, you're paying at least 10-20% in spread per trade.
Nice...good luck with that.

 

[COINMOUNTAIN]

All trades carry a spread i use etx and only trade on 1 and 2 pip spreads.
I'm obviously replying to someone who does not trade or has suffered a large loss.
I have a 70% success rate which i strive to improve by being discerning in the trades i take.
I'm also disciplining myself to only a few trades a day and stop when i hit my daily target.
In life there's no such thing as zero risk unless you do nothing and achieve the same.
I try to be helpful in my replies and honest.

 

[SanMiguel]

All trades carry a spread i use etx and only trade on 1 and 2 pip spreads.
I'm obviously replying to someone who does not trade or has suffered a large loss.
I have a 70% success rate which i strive to improve by being discerning in the trades i take.
I'm also disciplining myself to only a few trades a day and stop when i hit my daily target.
In life there's no such thing as zero risk unless you do nothing and achieve the same.
I try to be helpful in my replies and honest.

Lol, yeah that's it mate, I don;t trade!
The point I was trying to make is that overcoming the spread on scalping is going to be the main issue for spread trading. When you trade direct market you can actually trade inside the spread and effectively take the spread to zero in some cases. Scalpers should really use direct market access but hey if it's working for you then fine.
It's just I know a lot of so called "systems" where people scalp things like the GBPJPY for 10 pips with a spread of 5 and a stop loss of 10. The maths on that lean towards losing just due to the spread. 1 on the FTSE for 10 profit is not so bad but there's a lot worse instruments out there.

 

[chiggy]

Coinmountain,

I am now trading the piptastic methods and attend the evening trading room 2 days a week, Can you tell me how long it took you to become profitable with the piptastic methods ?

Thanks,

Chiggy

 

[COINMOUNTAIN]

Chiggy

Coinmountain,

I am now trading the piptastic methods and attend the evening trading room 2 days a week, Can you tell me how long it took you to become profitable with the piptastic methods ?

Thanks,

Chiggy

Hi Chiggy
I've traded over 20 years but went on the january course to freshen up my knowledge.
I like Damon's trading methods as he shows a variety and you can then find a method you like.
I'm not interested in trading all day long and am happy with a regular 20 pips a day.
I have in the past traded at high levels £100 a pip and higher but am more comfortable at around £20 a pip.
I just set alarms on my charts and work on 5 and 15 minutes.I sometimes take 5 pips and close when it hits resistance but occasionally am finshed by 9 am
good luck
regards Michael

 

[chiggy]

Hi Coinmountain,

Thanks, much appreciated, can you tell me how you place alarms with the methods, do you place alarms around pivot points ?

Chiggy

Chiggy


Hi Chiggy
I've traded over 20 years but went on the january course to freshen up my knowledge.
I like Damon's trading methods as he shows a variety and you can then find a method you like.
I'm not interested in trading all day long and am happy with a regular 20 pips a day.
I have in the past traded at high levels £100 a pip and higher but am more comfortable at around £20 a pip.
I just set alarms on my charts and work on 5 and 15 minutes.I sometimes take 5 pips and close when it hits resistance but occasionally am finshed by 9 am
good luck
regards Michael

 

[COINMOUNTAIN]

Hi Coinmountain,

Thanks, much appreciated, can you tell me how you place alarms with the methods, do you place alarms around pivot points ?

Chiggy

Hi Chiggy
This is my set up
open up advanced charts on etx (low spreads)
Have already saved template with following
5 sma 19 sma 50 ema
pivots lines
psar
bollinger bands
macd 2 6 20
stochastic 14 3 3
gbp/usd
eur/usd
aud/usd
wall st
ftse
put alarms around pivots but watch all of the above for entries
i only enter when at least 2 are in my favour
ie bollinger band has 3 levels say the bottom level is almost touched
stochastic has gone below 20 and is going above 22 level and market looks oversold
i then buy with a 20 pip stop same applies in reverse
ftse follows wall st so prefer wall st in afternoon
aud best after midnight.
let me know how you get on.
If necessary paper trade until you've fully understood.
Don't get greedy and compound up to a level your happy with.
I used to spend a lot of time running to the lavatory when i was trade high amounts.
Trading is as much about knowing what your happy with and which method you like.
Wall st usually has a breakout during last hour.
regards Michael

 

[chiggy]

Thanks Coinmountain, I will let you know how I get on

Hi Chiggy
This is my set up
open up advanced charts on etx (low spreads)
Have already saved template with following
5 sma 19 sma 50 ema
pivots lines
psar
bollinger bands
macd 2 6 20
stochastic 14 3 3
gbp/usd
eur/usd
aud/usd
wall st
ftse
put alarms around pivots but watch all of the above for entries
i only enter when at least 2 are in my favour
ie bollinger band has 3 levels say the bottom level is almost touched
stochastic has gone below 20 and is going above 22 level and market looks oversold
i then buy with a 20 pip stop same applies in reverse
ftse follows wall st so prefer wall st in afternoon
aud best after midnight.
let me know how you get on.
If necessary paper trade until you've fully understood.
Don't get greedy and compound up to a level your happy with.
I used to spend a lot of time running to the lavatory when i was trade high amounts.
Trading is as much about knowing what your happy with and which method you like.
Wall st usually has a breakout during last hour.
regards Michael

 

[COINMOUNTAIN]

Hi chiggy
All traders mix their settings
piptastic
5 18 62 ema is ok as a good guide
macd 12 26 7 is also ok
It all depends on the time frame you want to trade/markets indices or currency pairs.
I like the stochastic and as i'm only looking for 20 pips a day i made the adjustments to suit myself.
I like 5 and 15 minutes.The higher the time frame the better the results but you need larger stops.
There is no holy grail and i'm supposed to be a ebay powerseller as don't want to watch screen all day.
Piptastic is an excellent site and helps traders find a system they like trading.
I'm happy with a 100 pips a week but each to their own
good luck Michael

 

[dglynn]

Hi Michael

I've read with interest your posts regarding Damon and Piptastic and having purchased the Piptastic DVD products and digested their contents, I'm now looking at the other products on offer by Damon. As an independent and unbiased user could you advise on whether the Membership site and Live rooms offer other systems/methods apart from the FTSE/S&P pivot method featured on the DVDs such as the swing trading system mentioned here and also what other material may be featured in the membership site. I know I could aproach Damon for this information, but I'd very much welcome an independent view.

I look forward to any response.

DaveG

 

[COINMOUNTAIN]

Hi Dave
I have a full set of the DVDs and attended the January 2011 course.
Having traded for a number of years and worked in FX in the city in the 1970's and 80's i wanted to
hone my skills and found that a greater understanding of Bollinger bands and Stochastics has helped me improve my trading.
On the course you can bring up any subject you want.
The membership and forum is aimed primarily at beginners and is very good at stopping a number just taking positions without thought.
There are 23 different methods taught on the course, i tend to stick to the ones i like as do not need to watch charts all day.
I have found that the FTSE is good for a trade around 8am , but i stick to WALL st in the afternoons as ftse does seem to follow wall st blindly..
Try and find a method you like.The ones i have used are mentiuoned in earlier comments.
my email is [email protected]
regards Michael

 

[cool&calm]

Hello guys, i just stumbled across this forum on the internet and felt compelled to comment on the piptastic (craptastic) way of trading. Having experienced it myself and luckily avoided all of the piptastic pitfalls, as have many others i know of, i can assure you that the craptastic methods of trading will never make you any money. The risk/reward ratio's of his methods alone are a joke!!!!!! The only person making money with pip/craptastic is damon himself from memberships and dvd sales. I'm sorry to be so blunt but this bloke is really beginning to p**s me off with all of his false claims and ridicullous methods which by the way are all freely available on the internet. DO NOT BE FOOLED BY HIS CLAIMS AND WOLF IN SHEEPS CLOTHING ATTITUDE.
All the best with your future trading.

 

[Encantador]

Hello guys, i just stumbled across this forum on the internet and felt compelled to comment on the piptastic (craptastic) way of trading. Having experienced it myself and luckily avoided all of the piptastic pitfalls, as have many others i know of, i can assure you that the craptastic methods of trading will never make you any money. The risk/reward ratio's of his methods alone are a joke!!!!!! The only person making money with pip/craptastic is damon himself from memberships and dvd sales. I'm sorry to be so blunt but this bloke is really beginning to p**s me off with all of his false claims and ridicullous methods which by the way are all freely available on the internet. DO NOT BE FOOLED BY HIS CLAIMS AND WOLF IN SHEEPS CLOTHING ATTITUDE.
All the best with your future trading.

Please Ignore the above post.

How many system providers give members there phone number and actually answer the phone when it rings. Should tell you a lot.

 

[lemming7]

Hello guys, i just stumbled across this forum on the internet and felt compelled to comment on the piptastic (craptastic) way of trading. Having experienced it myself and luckily avoided all of the piptastic pitfalls, as have many others i know of, i can assure you that the craptastic methods of trading will never make you any money. The risk/reward ratio's of his methods alone are a joke!!!!!! The only person making money with pip/craptastic is damon himself from memberships and dvd sales. I'm sorry to be so blunt but this bloke is really beginning to p**s me off with all of his false claims and ridicullous methods which by the way are all freely available on the internet. DO NOT BE FOOLED BY HIS CLAIMS AND WOLF IN SHEEPS CLOTHING ATTITUDE.
All the best with your future trading.

You have got to be mad, it's the best site out there. You have to work at it but the rewards are fantastic don't let this bitter guy put you off.

 

[chiggy]

Yes,

Damon is a stand up guy, I have been with him for 2 months now and have learned a lot.

His methods do work and he has helped many people go into full time trading.

One of his pupils brings in 500 pips + a day......... enough said.

Chiggy.

 

[markbritton]

I'm not going to get into an argument here but I strongly disagree with Cool&Calm's post. I had been struggling with my trading for years and then joined Piptastic November 2010.

With the help of Damon and other fellow traders within Piptastic my trading fortunes have gone from strength to strength. So much so, that I now trade full time and utilise Damon's methods to achieve my Trading Targets EVERY DAY.

I would add that without the help of Piptastic I would still be scouring T2T forums etc for Holy Grails and getting ripped off by system sellers (written by non traders). Damon is the most helpful and genuine guy you will EVER meet in this cut throat industry. He is a true gentleman and this distasteful post is very wrong. Correct, if you dont like the methods of Piptastic fine - you can talk to Damon freely about your concerns, but the manner of the comments is completely out of order.

The answer to being a success in trading is down to the INDIVIDUAL and NOT Holy Grails.

I would highly recommend Piptastic for beginners and experienced traders alike without ANY reserve at all.