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Dear Strat...
That is wild. I had a horrible morning start on the Euro and was down a lot of pips and then my best trade today was the USDCAD & CADJPY!
Thanks so much for posting, it is really interesting! (I can hear the X files music in my head)
Here is my post about it from the other thread and charts:
Got it back to trade the CAD, my favourite trades of the day.
I traded USDCAD short on the break of the Ma's for 120 pips and then again on the 1-2-3 for 98 pips. Chart attached.
Also took CADJPY long (it moves opposite to USDCAD) for very similar pips on the initial break and the 1-2-3. Chart attached. Nice bounces off the 20ma's as per the strategy.
Nicola
Last edited by Nicola A; 01-26-2009 at 08:05 PM.
Reason: spelling
Thanks for the compliment but they are not "nice" until pips are in the tin or at least until I get the SL to break-even. Also, it's not "lucky", it's just "trading the plan".
Out of much respect for Dan & Zak, I am not prepared to discuss other strategies on this Forum. In reality, you don't need other strategies as their strategy works very well on the Daily PROVIDING you have the PATIENCE to wait for the set ups.
No, it's definitely NOT Jacko's strategy or any others - it's something I put together after the "light went on" after using their strategy with my previous Daily trading experience.
Sorry for being vague and hope I'm not offensive
Rock on,
Strat
No problem, I fully understand that this is not the place to discuss other strategies. BTW, who is Dan ? Does he post on TSD or is he in the chat room ? I was in Zak's room (boyler room) last summer and it was a terrific experience. I go through the charts each night and can see how his strategy can make you an incredible amount of money if you can wait for the good setups to come to you. As i cannot trade during the day (yet) I am currently looking for longer term strategies, that's why I mentioned Jacko.
Dan is Dan Armitage of "The London Open". Dan and Zak used to work together at MarketBytes.com and decided to go it alone. They have since formed fx500 club where, on a subscription basis, they trade live the London and NY opens.
In addition, they tell you what they are trading and why and also provide on going education on their work and strategies. Their strategy works from M5 to Yearly and any time frame in between.
If it sounds like I am "plugging" fx500, Dan and Zak, I AM - there is no better FX trading service out there anywhere - I know - I've been round the blocks as they say. And NO, I don't get paid for this recommendation, nobody does - they do not have affiliate schemes - which further shows their creditability.
Hey Larry
I want to second what Strat said. The only way I know how to trade is the way they teach, I owe them everything.
They do cover longer term trades as well as shorter term ones and a lot of guys who have to do other things in the day use them to place orders and often come home to nice pips.
If you can find a morning where you can do the London open before work (the room is 7:00 to 8:30AM UK time) then take the free trial.
Best wishes
Nicola
For anyone interested in using the strategy to trade the Daily, we are at or very near several trades as the pairs approach their respective 20 emas.
Dan has told you that H1 20 is very powerful, well, on the Daily, it is even MORE powerful. (Remember, the higher the time frame, the more accurate and meaningful the technicals become). Just scroll back through your Daily charts and observe how price reacts around the 20.
We need to look for where the Daily bar closes with respect to the 20. If the downtrending pairs close above the 20, then that is an indication the short term trend has changed and longs should be taken. The opposite of course for the uptrending pairs. A very conservative entry would be to wait for the bar to close above the 20 and then place an order to buy a couple of pips above the high of that bar (in the case of longs).
Remember you need large stops to trade the Daily so adjust your contract size to suit your MM. Not wanting to frighten anyone, but the average daily range of GBPJPY over the last 3 trading days is 414 pips! Next is GBPUSD with 341 pips.
Here is my post about it from the other thread and charts:
Got it back to trade the CAD, my favourite trades of the day.
I traded USDCAD short on the break of the Ma's for 120 pips and then again on the 1-2-3 for 98 pips. Chart attached.
Nicola
Are you taking your trades on the first candle that is in the direction of the trend?
Dan is Dan Armitage of "The London Open". Dan and Zak used to work together at MarketBytes.com and decided to go it alone. They have since formed fx500 club where, on a subscription basis, they trade live the London and NY opens.
In addition, they tell you what they are trading and why and also provide on going education on their work and strategies. Their strategy works from M5 to Yearly and any time frame in between.
If it sounds like I am "plugging" fx500, Dan and Zak, I AM - there is no better FX trading service out there anywhere - I know - I've been round the blocks as they say. And NO, I don't get paid for this recommendation, nobody does - they do not have affiliate schemes - which further shows their creditability.
I remember your name from the Boiler Room in the summer - wild ride wasn't it! Great fun (were you there for cocktails and singing on that unforgetable Friday afternoon?).
Anyway, just wanted to add that I believe Dan and the gang are about to launch the MonkeySchool as well. Dan will be going through everything at a much slower pace aimed at newbies and anyone else who wants benefit from their extensive knowledge.
Sounds unmissable - and as Strat says, we don't get paid for plugging them, they are simply fab.
RS
Last edited by rollingstone; 01-27-2009 at 09:41 PM.
Strato and Nicola, thank you very much for the info ! I really didn't know that things have progressed so much since last summer ! I will check out the club and everything !
It's a shame I do not get to trade these days since volatility is amazing and I'm seeing great setups almost every night (even though in hindsight) when I go through the day's session.
I never would have thought that a strategy as simple as this one can work !
I remember your name from the Boiler Room in the summer - wild ride wasn't it! Great fun (were you there for cocktails and singing on that unforgetable Friday afternoon?).
Anyway, just wanted to add that I believe Dan and the gang are about to launch the MonkeySchool as well. Dan will be going through everything at a much slower pace aimed at newbies and anyone else who wants benefit from their extensive knowledge.
Sounds unmissable - and as Strat says, we don't get paid for plugging them, they are simply fab.
RS
Hi rollingstone, yes, I believe you when you say that you don't plugg Dan & Zak, there is no need for it as the results through Pimpology speak for themselves. Of course, it's not a holy grail...but I'd say it's pretty close to it .
I remember your nick name...but don't really know to which Friday afternoon you are referring ?! I must have missed something then, I guess.
.
