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Have been trying to learn this system and feel I (and probably others) would really benefit from some more charts if possible.
So, in an effort to accelerate the learning curve, would that be possible? Could you please post more charts explaining you entries.
Thanks,
Hi faq123
Welcome to the Pimps thread. I don't wish to cause offence, but have you studied all of the charts the Pimp posted at the very start of this thread, laying out in great detail, step by step, how to read the strategy on his charts?
You really won't get any better explanation anywhere else. May I suggest reading those early Pimp posts a few times, and then testing your undestanding by watching some live charts and perhaps placing some demo trades? Then you will get real time feedback on your understanding - if you double your demo account balalnce, you have understood. If you blow the lot, you need to revise !
Hi Guys,
Since I am not really posting trading ideas much these days, and most of the strategy is on here, perhaps you'd be kind enough to allow me back for a little laugh and a joke sometimes?
Thanks for the continued support by all of you
Hey Big Man
Duh, its your thread. Of course we welcome your return, both for your constructive critism (thats how we will improve our trading), even "PipDrive" & "Pipsy Galore" aren't up to your level of performance yet - and of course a joke or two.
I enjoyed Monkeys post over on Dans thread yesterday - he posted his levels in the morning; the lows were smashed toward the end of the afternoon - well in the pips....then another post admitting he'd pulled his orders & got diddlyswat!
btw, I hope the house move goes smoothly for you and look forward to more of your time in Feb
I came here because I wanted more action than I was getting trading the Daily and soon found out that the action I got (pressure) was way more than I could handle.
I learned that I am more suited to doing a 20 minute analysis over 10 pairs after 2pm (PST, when NY closes) and placing limit/stop orders and letting them run, than I am doing my head in watching M15 charts all day, which also requires me to be awake and alert at non - social hours (11pm and 5am PST). Plus I can go back to doing other things during the day while my trades are working. Yes, you do need wider stops and therefore a larger account or smaller contract size.
I have just closed my Daily short GBPUSD trade at the close (1.3874) after entering at 1.4788 for a nice 914 piparoonis in 3 days. Although I used my previous strategy, I look back and it would appear the Pimp strategy would have worked also.
I have now placed an order to go long at 1.4029, a couple of pips above the high of the pin bar with a SL at 1.3615, a couple of pips below the low.
Again, I take my hat off to you guys (and The Queen) that can profit from these short time frames. Keep on doing what works for you.
Good luck, and if I may, I will continue to post when I feel I can help.
Wow Strat - I would love to trade like that! I want to move up timeframes so badly.
I hope you keep posting so I can see what you do.
Nicola
Quote:
Originally Posted by stratocaster59
I came here because I wanted more action than I was getting trading the Daily and soon found out that the action I got (pressure) was way more than I could handle.
I learned that I am more suited to doing a 20 minute analysis over 10 pairs after 2pm (PST, when NY closes) and placing limit/stop orders and letting them run, than I am doing my head in watching M15 charts all day, which also requires me to be awake and alert at non - social hours (11pm and 5am PST). Plus I can go back to doing other things during the day while my trades are working. Yes, you do need wider stops and therefore a larger account or smaller contract size.
I have just closed my Daily short GBPUSD trade at the close (1.3874) after entering at 1.4788 for a nice 914 piparoonis in 3 days. Although I used my previous strategy, I look back and it would appear the Pimp strategy would have worked also.
I have now placed an order to go long at 1.4029, a couple of pips above the high of the pin bar with a SL at 1.3615, a couple of pips below the low.
Again, I take my hat off to you guys (and The Queen) that can profit from these short time frames. Keep on doing what works for you.
Good luck, and if I may, I will continue to post when I feel I can help.
__________________ 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
Once again I managed to trade oil inventories for a lot of pips. For the third week in a row the market was surprised by high numbers, not sure why because it is in all the news about oil contango and backlog in the US.
I attached the chart for WTI but I traded OIL as well that looked the same. I did not trade the rally but waited all day for the price to fall back through the 1hr 20 moving average to show we were back in a downtrend. Then I got the 123 right before Oil inventories when I entered. This move was 200 pips.
The arrows show entry and exit, hope this helps
My other favourite trade today was USDJPY because I waited so long for it!
The pimps early posts talk about the great things that happen when the moving averages bunch up and then break out.
This chart also shows the 123 that was available as well if you missed the first move today.
From entering on the breakout to the big move took hours so you had to be patient. 100 pips for this one and you only needed a small stop above the WS1
I put the arrows on also for the really big one I got yesterday too which was 250 pips. Same classic school of pimpology strategy.
Hope this chart helps too.
Welcome to the Pimps thread. I don't wish to cause offence, but have you studied all of the charts the Pimp posted at the very start of this thread, laying out in great detail, step by step, how to read the strategy on his charts?
You really won't get any better explanation anywhere else. May I suggest reading those early Pimp posts a few times, and then testing your undestanding by watching some live charts and perhaps placing some demo trades? Then you will get real time feedback on your understanding - if you double your demo account balalnce, you have understood. If you blow the lot, you need to revise !
happy pip hunting
Paul
Hi Paul,
And no offence taken. I have been reading as you suggest but it is always nice to see how others are interpreting and applying the method, to sharpen ones own understanding. A lot of pips get posted here and if there is no chart I do look to see where and more importantly, why, people entered, but it can be confusing sometimes.
I suppose another way to look at it is that in seeing charts the more senior members can effectively vet the trades of juniors i.e. make sure they are interpreting and applying things correctly.
And when all is said and done I suppose the old adage - a picture paints a thousand words - never hurt anyone.
Once again I managed to trade oil inventories for a lot of pips. For the third week in a row the market was surprised by high numbers, not sure why because it is in all the news about oil contango and backlog in the US.
I attached the chart for WTI but I traded OIL as well that looked the same. I did not trade the rally but waited all day for the price to fall back through the 1hr 20 moving average to show we were back in a downtrend. Then I got the 123 right before Oil inventories when I entered. This move was 200 pips.
The arrows show entry and exit, hope this helps
Nicola
Hi Nicola,
Just like to say that I really appreciate your charts and feedback.
I suppose the old adage - a picture paints a thousand words - never hurt anyone.
Linear Mode
