It's All About The Pips...

[danarm]

Well the week has come to an end...Been here since 4am.

We shorted CABLE in the room (probably average was mid 30s) and as u you know i shorted at 1.5240and 1.5200. We banked at 1.5206 and 1.5286 and closed my last small part at 1.5225.

We shorted USDJPY at 95.70 and banked at 95.50, 95.40 and 95.08

We also took EURJPY and GBPJPY but did not promote this in the room so no need to tell u the results on these.

I am finito for the week and i might pop back in later on but i wont be hanging around today.

A long lunch is much in need.

Cheers
D

 

[danarm]

Good morning

Its Friday!!!

CABLE
• I shorted CABLE at 1.5200 (25%) and then (75%) at 1.5240 with a stop at 1.5260.
• The USD isn´t that strong but felt it was worth the risk for this technical play.
• This is the head and shoulders we were talking about yesterday.
• It is holding up well for now but limited risk.

Otherwise holding off on the other currencies.

Dan



Good Morning:=) Lets wait here and let the setups come. Im looking at usdcad later on for a potential drop. Not now. I need more feeling on the eurusd and eurjpy pairs to have a qualified trade for u on these two.. Asia has been positive and Europe is waiting for news at 10.00 uk time. Later we have Industrial production from US. Some plays will come but for now hold off. A patient morning is needed in my view so far. I ll come and talk about it later. So no levels to trade off atm. Cheers thx.

Anders



Good morning all….With better than expected numbers out of Japan last night fundamentally the Yen could strengthen some more.Yesterday we closed out our longer term USDJPY with 200 pips on the last part which was nice.Big resistance levels on all 4hr charts have yet to be penetrated and 60m double tops will pave the way for further falls.However, we will not be taking any further short positions north of the daily pivots (remember what happened with UJ yesterday AM)I am looking for cheeky potentials in all Yen pairs should the double tops appear with tight stops then will seek to add to those positions on the breaks south of the DP’s.A break of 95.70 on USDJPY will lead the way, whilst anyone looking to pre-empt a move might wish to try their luck on EURJPY with a tight stop above the figure.Small triangle has just broken! I am in from .75 having closed yesterdays little long play.Have a good morning.

Although there is a possibility of a double bottom at the pivot on USDJPY there is a small descending triangle forming so despite the golden cross, momentum is to the downside until 96.00 gets broken.A break of of 95.70 should see this a bit lower but not going to get caught out. being patient until .70 goes then can start to bould a small position. Stop would need to be 30 pip

JPY Desk

 

[klastica]

Where can I move info about the fx500club and the fxmonkeyschool?

And what is this live room that everyone on this thread talks about?

 

[allgood]

Where can I move info about the fx500club and the fxmonkeyschool?

And what is this live room that everyone on this thread talks about?

Hi - the live room is the fx500 club. You can google them and that will take you straight there.

 

[allgood]

Hi All,

Fairly new here.

Been in the live room now for just over 2 months. Ive never had anything to do with trading before and I must admit I think its taken me a little longer then other newbies to get an understanding of what is going on. Pennies are beginning to drop now and Im even making pips (small pips) on bad days.

Im writing today because this day and week has been GREAT!! Especailly today. Dan, Zak, James and Anders where calling winning trades left right and centre.

I lost some pips trying to play ranges. I also took some of the trades the guys called and was flat about an hour ago +110 pips on the day. Had another order in cable kicked in and have taken another +21 pips out of that and am leaving a little running.

Im not doing anything else today other then reading up on candlesticks.

Great week!!!

Thanks Dan.

Brett

 

[danarm]

Hi all

I have really enjoyed this week and i would personally like to thank you for the positive feedback with the Club.

We are moving forward as a Club and if we take it month by month we will improve... I hope you like the way we adapt the style of the room and make the relevant changes depending on the performance of the room. We havent stopped learning and will keep improving over time.

Anders is a great addition to the trading team and we can only get stronger from here.

Exciting times and some great results.

Well done

D

 

[henkvanhirtum]

Awesomeness

Hi all

I have really enjoyed this week and i would personally like to thank you for the positive feedback with the Club.

We are moving forward as a Club and if we take it month by month we will improve... I hope you like the way we adapt the style of the room and make the relevant changes depending on the performance of the room. We havent stopped learning and will keep improving over time.

Anders is a great addition to the trading team and we can only get stronger from here.

Exciting times and some great results.

Well done

D

Hey Dan and all,

Had a great week in the room. Dan, James, Zak, Anders and the rest of the team are great. This week was awesome, especially compared to the previous week . I like the fact that feedback ( positive and negative ) is well received by the crew and that the room is constantly improving. Not only are we making money in the room, we're also having a good time. I think that's just as important as making good trades.

Meanwhile, the consistency level in my trades is getting better and better. I made a lot of pips these week ( did not count them, to many pips ) and it increased my account size a lot .

Dan is the cable master, Zak the Yen pimp, James the indices hero and Anders the underwater microphone guy.

J/k, Anders is an awesome all-round trader and very funny.

Anyway, this week the dollar seemed a bit confused. It was probably confused because of the sideways movements of the equity markets. Investors still think the dollar is a safe haven and that's why there is still some buying pressure in the market. Then again, I could be totally wrong.

Dan: Apart from trading I can also code. If you need to do anything html, php, e-mail related done just send me a PM, I would be happy to help for free. I do pay for a subscription but the vibe this room creates is something what extends the consumer experience that much I want to help these guys out.

Greets and have a good one ( I sure will ;-) ),

Henk.

 

[Vivek_Chhibba]

Hey Dan. I've been trading FX for a while..but just discovered your thread. Congrats on some excellent work. I've also had an awesome month so far. I trade cable and euro mostly, but have dabbled in usdcad and usdjpy (could not resist!!). Made about 900 pips this week alone. In the past, I have lost my backside trading 'the beast' GBPJPY so staying away from that for now (but I will be back!!!).

Like yourself, I use a range of technical analysis tools to enter and exit trades (i am a big fan of the MACD, fibonnaci and CCI indicators, which I find pretty reliable, along with S&R lines and pivot points).

Anyway, just thought i'd pop in and pay my regards. You're doing a great job. Have a great weekend. Cannot wait until Monday!

Vivek

 

[viclondon]

My first week in the club and must say I am amazed by the quality of the service offered. Dan is simply sensational and all the others are also very experienced and knowledgeabl traders that gives excellent calls and analysis.
We should all collect some money and buy a new microphone for Anders, but apart for that I am having a fantastic time and cannot wait for Monday 6:00. I still have not completed the tour of all the services offered (is there a coverage of mini Dow?), but I am very happy about the whole thing.
For 3-4 days I just watched the action, I only started trading last Wednsday and I had fantastic results (probably beginner's luck).
I do not count the results in pips, rather in $ or percentage. The first day I made around 300 pips. Thursday I had a stupid trade that cost me 150pips (had to go out for a couple of hours and don't use automatic stops) but then I manage to go back to break even. Friday I was nailing everything: Out of a dozen trades only one looser and only for 35 pips, I went back in the afternoon trading on my own and still kept winning; I definetely made over 500 pips on Friday.
In my first 3 days I made over $1,500 using relatively small stakes of $25,000 each; if I keep up with consistent wins I will double my stakes which will enable me to scale out of position.

 

[danarm]

Hi all

Just got back from the bar after watching Leicester beat Irish. Felt the Irish deserved a sneeky win but made vital mistakes at key moments...Nevermind!

I really enjoyed reading the posts above..I am also very pleased we have built a club that is not only about making pips but also a friendly environment to trade. You guys make the club and that positivity will rub off on all of us. I am back in London in August and for those that are keen maybe it would be fun to meet for a few cheeky beers?

Hope you are having a good weekend.

My misses is watching Eurovision... Do people actually watch this??? You can't be serious!!!

D

 

[danarm]

By the way Anders will be down with the team on Tuesday and i will personally buy him a new microphone!

 

[henkvanhirtum]

Hi all

Just got back from the bar after watching Leicester beat Irish. Felt the Irish deserved a sneeky win but made vital mistakes at key moments...Nevermind!

I really enjoyed reading the posts above..I am also very pleased we have built a club that is not only about making pips but also a friendly environment to trade. You guys make the club and that positivity will rub off on all of us. I am back in London in August and for those that are keen maybe it would be fun to meet for a few cheeky beers?

Hope you are having a good weekend.

My misses is watching Eurovision... Do people actually watch this??? You can't be serious!!!

D

Hey Dan,

Cheeky wins are great, lets do some more cheeky wins next week ;-).

When you're in London in August I will fly to there to have some good, cheeky beers with you. That would be awesome! Then we can talk about the Eurovision, because I know you're a big fan .

By the way, great you're giving Anders a new microphone . This one is pretty cool: http://blog.mercury-rac.com/wp-content/uploads/2008/12/microphone.jpg

Anyway, enjoying myself right now with 'Sad guys on trading floors':
Sad Guys on Trading Floors

See you guys on monday!

Henk.

 

[viclondon]

By the way Anders will be down with the team on Tuesday and i will personally buy him a new microphone!

Yuppyyyyyyyyyyyy

 

[viclondon]

Hi all

Just got back from the bar after watching Leicester beat Irish. Felt the Irish deserved a sneeky win but made vital mistakes at key moments...Nevermind!

I really enjoyed reading the posts above..I am also very pleased we have built a club that is not only about making pips but also a friendly environment to trade. You guys make the club and that positivity will rub off on all of us. I am back in London in August and for those that are keen maybe it would be fun to meet for a few cheeky beers?

Hope you are having a good weekend.

My misses is watching Eurovision... Do people actually watch this??? You can't be serious!!!

D

Sign me in for a few rounds of beer in some of London's finest pubs. It will be great fun.
Funny, I was just scrolling through the TV programs and saw the Eurovision being shown at prime time. I thought: does anybody actually watch this c**p?

 

[combotrader]

I am really enjoying the club as well - I did not think I would to this extent.

What many who are new to trading - well newer than me, I have been trading for 2-3 yrs now - forget is that these are dangerous markets. Especially in cable - see what happened on the 8th May etc. I remember trading cable in 2007 - practically the whole year it was simply a buy and hold strategy !!! Easy days - and now its the tough days. Trends are harder to come by and consolidations on short term charts last for days. On a daily basis one could say that the Euro has been consolidating from the start of the year !!

And Dan can be boring ! He reminds me of the professional gambler who sits in one corner of the casino and just waits for the best opportunity. While I jump around taking 20-30 pips - he waits and waits for the 200pip opps. This has made the main difference to my trading. Its not really the technique. One could learn the 10/20/50 MA system as a mean reversion technique from anywhere. But its the mentality - sitting and waiting for the market to come to you. This is what Dan talks about in the room as well.

Danielson - I hope to become a poker faced professional gambler like you. And yes. lets talk about it over some drinks in London over the summer - altho the Ashes will be on...:clap:

CT

 

[danarm]

Morning all

Some great posts above...Vvvv funny!

I actually watched Eurovision last night with the wife..What is that all about??? Anybody enjoy watching Romania? You don't need sound, just watch...haha

Ok so beers are definitely on in August. I will let u know date, venue & time. Probably the 2nd or 3rd weekend in August...Henk its great to see you wouldn't miss an opportunity for a beer. Good man!!!

CT your post did make me laugh. Now re the Ashes... I presume you are English? I can't wait for the Ashes and i just hope that Freddie bloke is fit in time. (Good to see a fellow cricket supporter on here...) I had my MCC interview at Lords 5 years ago and they said congratulations you are now on the main list but please don't worry, it will only take another 20 to 25 years. Patience in this case is a very, very long time!

CT i will take you as a guest when i am a member (unless u are already?). You can hold me to it..

Ok off to the beach with the little one...

See u tom.

D

 

[sinib]

Hi Dan
I apologize for my English but I will improve it.
I've been trading Forex for a 14 months, but it was a struggle, one day I make 50 pips, the other day I lose 50 pips. I was thinking to leave the forex. I read lots of books about forex, I have tried several strategies but nothing worked well.
Then one day I was reading a review on forexpeacearmy and quite by chance I found fx500club. I decided to become a member and that I try fx500club.
Now, after three weeks in fx500club, I can not believe I finally found great strategy and the trading room, and even more traders, such as Dan, James, Zak, Anders and the rest of the team.People you are great, fantastic! I say thank God I found you. I admire you.
Thank you to exist.
Only proceed
Sinisa Brkic

 

[combotrader]

Morning all

Some great posts above...Vvvv funny!

I actually watched Eurovision last night with the wife..What is that all about??? Anybody enjoy watching Romania? You don't need sound, just watch...haha

Ok so beers are definitely on in August. I will let u know date, venue & time. Probably the 2nd or 3rd weekend in August...Henk its great to see you wouldn't miss an opportunity for a beer. Good man!!!

CT your post did make me laugh. Now re the Ashes... I presume you are English? I can't wait for the Ashes and i just hope that Freddie bloke is fit in time. (Good to see a fellow cricket supporter on here...) I had my MCC interview at Lords 5 years ago and they said congratulations you are now on the main list but please don't worry, it will only take another 20 to 25 years. Patience in this case is a very, very long time!

CT i will take you as a guest when i am a member (unless u are already?). You can hold me to it..

Ok off to the beach with the little one...

See u tom.

D

Hi Dan

Yes we could talk about cricket the whole day - lets just say The Aussies are gonna face a good fight this year. Re your MCC interview - try the Oval instead, home of surrey county and great batting pitch. Easier to get membership.
CT

 

[badger1777]

beers in August in London town? Bring it on!

 

[combotrader]

Went long on the Euro/Yen retracement this am from 127.43. 80 pips in the bag and holding for downtrend to resume from the 4hr 20 - at 129.40.