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Dan & Zak ... I don't have the words to say thank you.
When I joined I was hoping for 500 pips a week and I thought that was GREAT!
Here is my score for today which speaks for itself. If I ever have a child I may have to call it DanZak (wait isn't that a curry?) anyway ... ...
USDJPY short +238
EURJPY short +184
EURUSD short +47
GBPJPY short +296
WTI short +249
OIL short +238
TOTAL 1252 pips
Can I say what a difference having a couple of screens has made to my results? Before if I was in more than 2 trades I was a wreck trying to manage both. Now I can sit back, look at the big picture, put in my targets and wait patiently for the pips.
THANK YOU THANK YOU THANK YOU!
I am thinking about having a celebration drink but I am so giddy I may pass out. My hands are still shaking.
Nicola
PS - For anyone who doesn't know me I started trading in November for the first time. I found Zak on Youtube and started copying his trades which led me to the live room. The rest is history.
I thought I would share the trades I took this morning in my first session of the year (I was unable to join in last week due to my 'proper' job).
GBPUSD short 1 5030.5 to 1 4870.5 +60
GBPJPY short 1 3539.1 to 1 3498.2 +40 (50% off)
1 3508.4 +31 (50%) +35
EURUSD short 1 3361.6 to 1 3360.0 -
despite going well over 20 pips, I moved stop to break even, which was hit total (am session only) +95
Unfortunately my 'proper' job prevented me joining the pm session until it was almost over, so I didn't take any further trades today.
I know this is an embarrassingly small haul, having seen the results of many of the fx500 club when they signed off after the US open, but as I have asked Rockie to keep posting his weekly (and accumulated for the year) totals here, I couldn't keep mine a secret.
By the way my target (in my plan, with objectives set out for the whole year) is 60 pips a day (I know Zak thinks that is so last year, and we should have progressed to a 250 pips a day now, not 250 a week, which was OK last year), so whilst comparatively modest, I am a very very contented fx500 club member
Well done to everyone, looking forward to the morning
ps Thanks Rockie & Strato, I stayed focussed on what I was doing this morning and didn't monitor any of the 'chat' - I read Dan & Zaks reports, marked up my charts accordingly, with one ear on what they were saying
It probably looks lkike I didn't have any losers. I should have had two but I was stubborn.
I entered EURUSD and one of the oil trades at completely the wrong time, selling after a lot of red. Usual reason, got carried away with the excitement of the room, thought the trade would run away without me, etc. I had to watch them go down a lot of pips before they turned around and I even moved my stop. I was just lucky today but I won't always be. TG for the trend!
For those of us that are new and those of us that are still struggling, would you mind re-living each trade as you saw it, what made you take it, when you knew to take profit, what your emotions were, what was going through your mind, how you used the information from Dan and Zak etc?
Personally, I'm so distracted and intent on listening to what Dan and Zak have to say (sorry james, don't trade indices), that I end up missing the trades or entering them too late when the "meat" has gone and I'm only picking up the bones.
A fantastic start to the week yesterday with all the Yen pairs behaving nicely for us.
GBPJPY did hit the 132.00 final target so hoping that a few of you managed to stay in from the 135.50 level.
Well done especially to Nicola who scooped a whopping 1200 pips in total. Congratulation to you. Very well done indeed.
Onto this mornings session we are now witnessing so consolidation after the falls and with USDCHF looking like she wants to push a little higher, have not got the uniform correlation between my 6 pairs that I like to see.
It looks like a push past 1.1225 might see this back at 1.1600 at some point.
USDJPY-Very weak but does need to retrace a bit. Nothing but red on 4hr chart for over a week so would like to see a pullback before taking any action on this one.
GBPJPY-Looks set to take on the 130.00 level again which is bizzarre considering this pair once traded at 500.00!
I won't be looking to trade this pair this morning and still have a tiny part-position from yesterday. Again, needs a pullback.
EURJPY-Just a huge huge wall of red on 4hr chart this can not realistically fall anymore. Rather darinly we managed to get 100 out of this yesterday afternoon, so well done to those who traded this.
USDCHF-Looks likely to push higher IF the resistance at 1.2525 gives way. Best of a bad bunch for me this a.m. but everything in correct order.
Pay attention to Dan's synopsis on EURUSD to add weight to this conclusion.
GBPCHF-Channelling in a 60-70 pip range at the moment. Looks appealling IF breaking down through 1.6490 so watch for that.
EURCHF-Looks pretty weak and a break below yesterday's low of 1.4845 would see this lower. Looks good on 4hr chart too if it takes out the long-term support at around the .30-.35 level.
to summarize....USDCHF will probably not head up IF the other swiss pairs fall.
I am more interested in a short GBPCHF and EURCHF, through 1.6490 and 1.4850 respectively.
Swiss pairs look more appealling this morning. forget the Yens
Have a good morning.
Zak
__________________ 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
Pipsters,
This one is not for everyone, but I am long WTI entry 36.22 s/l below last low 34.50 (yes big stop), but I think price may have reached bottom. I have attached a daily chart and note the CCI slopes which suggest a change in direction / slowing downward momentum.
I've been paper trading this system for a couple of months and am doing OK. I think I might be ready to start real trading with it soon.
What broker would you guys recommend? I've been using Oanda for my demo trading, but I'm based in the UK and would prefer to use a UK based FSA registered broker.
Dan & Zak ... I don't have the words to say thank you.
When I joined I was hoping for 500 pips a week and I thought that was GREAT!
Here is my score for today which speaks for itself. If I ever have a child I may have to call it DanZak (wait isn't that a curry?) anyway ... ...
USDJPY short +238
EURJPY short +184
EURUSD short +47
GBPJPY short +296
WTI short +249
OIL short +238
TOTAL 1252 pips
Can I say what a difference having a couple of screens has made to my results? Before if I was in more than 2 trades I was a wreck trying to manage both. Now I can sit back, look at the big picture, put in my targets and wait patiently for the pips.
THANK YOU THANK YOU THANK YOU!
I am thinking about having a celebration drink but I am so giddy I may pass out. My hands are still shaking.
Nicola
PS - For anyone who doesn't know me I started trading in November for the first time. I found Zak on Youtube and started copying his trades which led me to the live room. The rest is history.
Hi Nicola,
these are great results ! One word of caution though: WTI Oil and Brent Crude Oil e.g. are really one and the same thing with regard to price action, you might as well short two contracts of WTI or two contracts Brent instead of shorting one contract each of the two Crude Oil sorts, imho.
Dear Pipsters,
Just to update, I have closed 1/2 my WTI position at 38.77 the other side of DP. Moved stop to 37.10 and am going to let this one ride. Total pips for the trade 255. Will update the average once this puppy has finally stopped running.
The lucky horseshoe fell out of my a** today and I ended the morning -145 pips. I stopped but I while ago had another peek to see what was going on and managed to claw my way back to +18 thanks to the yen pairs falling off.
Crude was completely wild today ... WTI is so out of whack because of the oversupply (contango).
Thanks for the advice Larry. I usually put a trade on one of the crudes and only add the other one if/when the first one is profitable.
No longer queen of the pips ...
Nicola
I will try and post my charts/reasons later Strato
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