patience is KEY. Very wise words indeed.

When the setups come and be patient they will, it can be like shelling peas.

Monkey will like this......

Easy dax trade, entry on the 123 under trendline support and two exits at trendlines. Well pleased with the avg 40 made.

remember the wise words, Patience IS KEY.

TonyH

Attached Images

dax.gif (42.4 KB, 350 views)

Brilliant words of wisdom from Mr Hill here.

Patience IS the key in this game.

Try working on a 1m chart all the time and you will be in and out with plenty of losses and a fair few wins too.
However, on a 1m chart one will never learn about patience because you are not having to be. You are never being tested.

Try a 30m chart like the 2 trades I took this afternoon and you'll learn how to hold onto these positions for a good few hours wothout flinching.

These two set-ups and entries were on the lunchtime video which sadly I cannot post as it's an an .flv file, but here they are anyway.

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	usdjpy1211.gif (9.3 KB, 321 views)

__________________
I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session

Man, I really regret leaving this thread for the last few weeks. I've had nothing but inconsistent trades - more losses than wins. When I was keen on FXP's strategy - super-trades and pips in the bank. What in the world causes people like me to jump around like an unsatisfied yoyo! Well I'm sticking with this method knowing that I'll be successful again. Thanks for still being here. A bit depressed in NYC.

Hi Pimp,
I just want to ask you why you choose usd/jpy? That was against corelation between usd and gold..
GLD was weak so the probability of weak USD was low.

Thank you for answer.
Ladik

Ladies and gentlemen;

Today was such a great day. Why you may ask - ok why ? Because two buddies of mine who I have been trading with finally got the message - patience is key. This should bring $massive benefits. And it will. I promised pips and you got them. Fantastic.

I took several trades usd/jpy (twice), brent crude, dax and dow (twice). I accumulated 388 pips by 2pm. The avo I went to the pub, had one more Guinness than recommended (if your Dan that's 2 pints) but for real men like Le Pimp and I that just a shandy top!

I hope to be in good sjape in the morning but no promises. Have a good one. I have had a great day; friends making pips, me making pips and an afternoon in the bar.

I am now at home woith a small pip refreshing Argie Malbec.

To pips, patience and pints.

Pubster rockie

Rockie

Your posts are like a breath of fresh air.

Thank you.

Nicely done Sir Rockdrive!

Today was one of those most frustrating ones for me. Being distracted by other stuff, looking back at the screen cable has dropped 100pips, nice little signal.. but *surely* it can't go no more??? I've been burnt so many times now jumpinging on a bunch of red candles with MA's so widely spread I cant even afford the stoploss to the 15m 20EMA, only to then get scared after a tiny 20pip retrace (in the back of my mind it wasn't a valid setup, so could turn easily any second, so better be ready to just take that small hit...)

Anyways, did end the day up, but not as much as I should have. Must learn to trust the setups and signals and hold on a bit longer.

But good stuff for you and the others from the liveroom taking decent pips - well deserved!

SF

Hi Ladik,

USDJPY is very weak at the moment, not so much because of a weak dollar, but rather a very strong yen accross the board.
The Japanese banking sector has had it's turmoil over the last 10-15 years whilst we've all been o.k. Now the yen is the new safehaven for many investors.

The whole counter-correlation between pound dollar and euro dollar vs usdjpy has been squiffy for some time.

This is the exact reason that we are seeing monster moves on eurjpy and gbpjpy.

If dollar can beat pound and yen can beat dollar then pound is going to take a right good pasting from the yen. ie short gbpjpy.

The reason I chose USDJPY as my pair for the afternoon was I am already in GBPJPY from 154.83 on my longer term book.
Sure I have been banking on the way down and getting in on other breaks but am happy with the balance of the position and will hold it for a bit.
EURJPY is the same. In already.
Since having other commitments in the day I can only trade 5m charts for a couple of hours so have began to take a longer term approach.

I hope this helps

__________________
I'm now sending trading notes out twice a day with videos too. Have a look HERE.
There's one set at 6:30 UK time for London and one at 12:00 for U.S session, plus I will send a summary video after each session

yes thats good.

I choose the eur/jpy coz eur was in E/J and E/U weaker and jpy was in U/J and E/J stroger. So that was 2bad points for EUR and 2 good point for JPY. Thats the reason why I choose rather E/J than U/J.

I will follow this corelitions with gold and i hope everything is going to be fine.
Thans for your replay.

Ladik

Wow, now u r in good profit...