It's All About The Pips...

[Black Swan]

Hi Guys

Hope all's good with you and you all had a great weekend. Where are all the regulars? - been missing you!

I know Dan likes to compare successful trading with sporting excellence in e.g. rugby and cricket, so I thought I'd bring another sport into the fold and share with you a little epiphany I had over the weekend while surfing...

If you ever get a chance, watch a good longboard surfer. They can't control the wind, the swell or the waves but they make it look so easy and chilled. They don't fight it, they just choose which wave to take, at what stage to pick it up and when to get out, and manage the whole ride with the minimum of effort...

I must be the most boring "trader" in the world, most of my trades are Cable break-outs with the trend during the London Open, but as long as I'm making my pips and my money each week, I'm happy. And most importantly, my mornings are stress-free and finished way before 0900hrs.

Wouldn't suit everyone granted, you adrenalin junkies and black-run skiers out there would get bored rigid I'm more of a blue-run kinda gal, and not ashamed to admit it.

So thanks Dan, Zak and James for helping me find my "trading style", soul surfer all the way!

Happy trading everyone and here's to keeping the trading mellow...

Ultra-chilled Julie (without even smoking anything )

Like the imagery, strange thing, you mention water sports as I often liken my short term day trading to when I'm water ski-ing, attack the buoy, nice and relaxed turn, then look for the next one, then the next.... Simples...

Advanced Waterskiing Technique | Expert Village Videos

 

[danarm]

Hi Julie

I love your post...It makes perfect sense to me!!!

What a great start to the week... Zaky boy nailed this am and lots of pips in the bank.

I am still off this week and back next monday.

D

 

[MooseSpecialist]

Evening all,

Have a look at Natural Gas “ NG_CONT” - I reckon she is going to pop next week. Only caveat is its triple witching next Friday which might see a price drop.

Now back to bed – sick as a pig this week.

Moose.

anyone look at this? personally did 320 for me today before i cut my position in half. its broken out of wedge so i expect more upward-ness.

 

[viclondon]

Dan, we miss you, come back soon, even though James and Zak are doing an excellent job.
In the meantime enjoy your time with your family and the new mini rugby player.
I will definetely see you in August in London.
Hasta a pronto

 

[eraserhead]

totally flat day for me.
I was not at the pc around 11 am CET, if I were there I would have shorted the EU at 4h20, but no problem perfect week till today: 2 trades around 400 pips, eu short and uj short

eu short took alone with a perfect setup friday afternoon and uj short thanks to Zak.

have a nice evening
davide

 

[danarm]

Good afternoon all

Hope you are all well... Its hot, been swimming with my little girl and just got back from a wonderful lunch on the beach with the family. I feel re charged and ready to go...

Been trading each morning for under 90mins and i have to say i am loving this week. I have gone back to simplicity and it is working like a treat. Hands up i was thinking too much about 'what if this happens...' over the last month and it hugely affected my judgement on things and especially CABLE.

I have binned all of that and i am not going to listen to any more analysts telling me that CABLE has to fall. I am going to trade what i see and take all emotion out of my head... What do analysts know anyway!!! I have learnt a huge amount about myself over the last month and how i trade. Thats the beauty of trading in that you go through good times and you go through tough times. Its what you learn from the tougher times that make you a better trader...

Working on a slightly different approach this week and i have to say it is working very well indeed. Lots of pips in the pip tin and in a very controlled and relaxed way. I have traded exactly what i have seen and followed the strategy to perfection.

Well done Davide... 400 pips is a great week indeed. Lets double that in the next two days...

Speak to you all later and looking forward to the room next week.
D

 

[Chrisfee]

Hi Dan,

Great to hear you've had a great week recharging the batteries. Looking forward to your dulcet tones again next week. Finally got to figuring out how to reply to these boards - I've been looking for the place to stick the stamp - technology eh???

Curerently working through all the vids for my third time - gathering momentum each time and hopefully ready to take my place amongst you squillionaire traders in the v. near future - please save me a seat:cheesy:

Also the new Twitter contact system looks v. promising.
Keep up the good work y'all.

Best regards,

Chris Feeney

 

[Rollingstone]

Beach bum

Good afternoon all

swimming with my little girl

wonderful lunch on the beach with the family.

Been trading each morning for under 90mins

D

Glad you're having a great week Dan.

Hmmm. I think I could cope with swimming, lunch on the beach and just working for 90 mins a day! Sounds fab.

Be glad to have you (and your dulcit tones) back next week, you've been missed. (But Zak and James have been excellent).

RS

 

[Black Swan]

Good afternoon all

Hope you are all well... Its hot, been swimming with my little girl and just got back from a wonderful lunch on the beach with the family. I feel re charged and ready to go...

Been trading each morning for under 90mins and i have to say i am loving this week. I have gone back to simplicity and it is working like a treat. Hands up i was thinking too much about 'what if this happens...' over the last month and it hugely affected my judgement on things and especially CABLE.

I have binned all of that and i am not going to listen to any more analysts telling me that CABLE has to fall. I am going to trade what i see and take all emotion out of my head... What do analysts know anyway!!! I have learnt a huge amount about myself over the last month and how i trade. Thats the beauty of trading in that you go through good times and you go through tough times. Its what you learn from the tougher times that make you a better trader...

Working on a slightly different approach this week and i have to say it is working very well indeed. Lots of pips in the pip tin and in a very controlled and relaxed way. I have traded exactly what i have seen and followed the strategy to perfection.

Well done Davide... 400 pips is a great week indeed. Lets double that in the next two days...

Speak to you all later and looking forward to the room next week.
D

Good to see you've got your mojo back bud and why not? How good is being a Dad, only bettered by being a bigger and better Dad. TBH I'm surprised you let any noise in, a great lesson for us all last year was the rise in oil - total madness, nothing to do with any fundamental/s. How many thought, "this can't go on can it? There must be a huge retracement any day". It did come but took months to unfold. Fortunes to be made riding the wave out and back in and it was all visible and tradeable once it bled onto the charts.

I've had a couple of times over the past couple of months when the IG pro real time charts havn't worked, made me chuckle the fact that I couldn't possibly take a trade without them so I simply sat on my hands for an hour.

In times gone past I'd dig, delve, fret, re. what the Dow or cable might do on any given day...never again, it's not just "all about the pips" it's "all about the charts". Not suggesting that there's no discretionary skill involved, but trading what you see is where it's at.

 

[sinib]

Good afternoon all

Hope you are all well... Its hot, been swimming with my little girl and just got back from a wonderful lunch on the beach with the family. I feel re charged and ready to go...

Been trading each morning for under 90mins and i have to say i am loving this week. I have gone back to simplicity and it is working like a treat. Hands up i was thinking too much about 'what if this happens...' over the last month and it hugely affected my judgement on things and especially CABLE.

I have binned all of that and i am not going to listen to any more analysts telling me that CABLE has to fall. I am going to trade what i see and take all emotion out of my head... What do analysts know anyway!!! I have learnt a huge amount about myself over the last month and how i trade. Thats the beauty of trading in that you go through good times and you go through tough times. Its what you learn from the tougher times that make you a better trader...

Working on a slightly different approach this week and i have to say it is working very well indeed. Lots of pips in the pip tin and in a very controlled and relaxed way. I have traded exactly what i have seen and followed the strategy to perfection.

Well done Davide... 400 pips is a great week indeed. Lets double that in the next two days...

Speak to you all later and looking forward to the room next week.
D

Hello Dan

I am Sinisa Brkic
Very nice Dan, I agree with you 100%. Every day I was waiting for cable to fall down,but it was opposite. From this week I am traiding only trade calls in room and what I can see.

Best regards

 

[badger1777]

Hi Guys

If you ever get a chance, watch a good longboard surfer. They can't control the wind, the swell or the waves but they make it look so easy and chilled. They don't fight it, they just choose which wave to take, at what stage to pick it up and when to get out, and manage the whole ride with the minimum of effort...

Hey Julie, I loved that post! Bang on.. let's all hop on the market momentum wave and ride it like the classy, chilled pip-meisters we are (as long as we get to enjoy the not so classy and rather noisy beach bbq and beers after - nothing better...)

Dan, looking forward to your return and great to hear you're having a remarkable time with the family

Mike

 

[danarm]

good morning all.it looks like the dollar appears to be strengthening this morning but i am thinking this will be a false alarm with some pretty heavy artillery awaiting our dollar index just above in the shape of 4hr 20 and 50 as well as 60m 20 and 50 plus daily 20.IF it manages to continue an upward march i will be looking for 123's on ozzie and kiwi having fallen through their pivots and the same with cable. usdcad on the upside through the pivot looks another candidate but unclear on eurusd and swissie.will keep you posted but not going to be conned into these plays straight away.Should the dollar reverse and weaken i have my eye on gold which looks as if it just may have found some support on the 4hr/60m 20ema'son the upside of cable there is a good run of 100 pips upto the resistance level should the $ belly-flop!have a good day
zak

 

[danarm]

Morning all

A good solid 2 hours this am...Closed all positions ahead of the news..

Made tiny pips on GOLD, 30 pips on USDCHF & got in late on CABLE for only 30... Very controlled trades ahead of the news. Job done!

I am being extremely strict with myself this week and making my pips and leaving. If u average around 200 to 250 pips per week (around 40 to 50 per day) then u should be happy. Remember thats all u have to do..Two trades at 25 pips and job done...Lovely jubbly.

Off to an adventure play ground with the little one. Wish me luck.

D

 

[Rollingstone]

Money Management

Hi Dan, hi all

We had a great start this morning in the room with a few pipsters banking over 100 pips. Me, I just got 26 pips on eurusd but more than happy with that. I don't like the markets when they whipsaw through the averages, give me a rollicking good trend any day and I'll be happy, so the benefits of having a good money management system in place really made the difference today between pips in the tin and a big fat zero, or worse, on the Profit and Loss sheet.

Most of the room banked before the news came out and then watched the markets turn round and quickly go the other way. Dan and the guys always bang on about banking part quickly and today was a fine example of why we should do this.

So thanks Zak for another excellent session, apart from nearly choking on my toast laughing so much I had a fab time.

Dan I hope you didn't monopolize the tyre swing at the adventure playground, I know how much you like it.

RS

 

[foredog]

I am being extremely strict with myself this week and making my pips and leaving. If u average around 200 to 250 pips per week (around 40 to 50 per day) then u should be happy. Remember thats all u have to do..Two trades at 25 pips and job done...Lovely jubbly.
D

Exactly,if you're averaging that with one lot or £10pp SBing per day thats $/£100k pa.

(that's the big IF though!!!!!)

 

[danarm]

Morning

A confused morning with USDJPY pushing up making the USD related currencies hard to trade.

I have to run...Nothing really takes my fancy at mom.

Have a good weekend and see u next week.

D

 

[henkvanhirtum]

Hey all,

Money Management Expert Advisor done .

Now I can finally leave my trades alone and Metatrader does the rest!

Have sent it to James, will let the FX500 team review and test it first.

If others are willing to test, drop me a pm.

Greets,

Henk.

 

[XLFX]

A quick thank you and well done to James for his guidance this week. Cool calm & collected trading style much admired!

Z.

 

[danarm]

Unusually for me I timed my holiday quite well. On my return it appearsthe market is beginning to wake up to the fact that pricing in a Vshaped recovery is a little too ambitious even for the most optimisticgreen shooter. Having a holiday gave me a good un-emotional view on themarket and looking at prices of credits in my world very close to oreven above par gave me an opportunity to hit a few bids. As soon as Idid this it was blatantly obvious the market already had the paper anddidn't want any more and all of a sudden my screen lit up like Las Vegasat night time. Client flow backed up the technicals as customers seemhappy to try and take profit at current levels and buyers seem to be inthe minority (spreads 25-50bp wider intra day). My trip to SC did little to change my view on the world, speaking tolocals business was down 35% on the year and everyone from the "syringeladies" to the local fisherman were happy to do a "deal". This isrelevant to me because it reinforces my belief that very few peoplepossess pricing power currently and I don't see this changing anytimesoon and therefore don't see inflation as a risk any time soon. For this mini sell off to remain just a blip we need to see someconsistent improving data out of the US to stimulate more buying andconvert more green shooters. I am still not a believer and anecdotallyI still don't see any green shoots aside from a activity in the UKhousing market that remains expensive but maybe artificially supporteddue to supply constraints. Lets hope my return from hols sparks anuptick in volatility before the Summer blues kick in.

Mr P.....

 

[danarm]

Back tomorrow..See u all at 6.30am.

D