Pimpmania 5m Madness

FX Pimp · #1 (**permalink**) 08-23-2008, 10:06 AM

Pimpmania is sweeping the nation !

Many people have asked me to devise a simple trading strategy with consistent 20-30 pip results using traditional indicators that have stood the test of time.

What I have come up with will give you small trades all day long on the four major currency pairs as well as Crude and Gold, using a few moving averages a few CCI's and a daily pivot indicator.

Sure it will work on all instruments, but to keep it simple and VERY accurate I use just the 6 charts.

The reasons I use Crude and Gold is because they drive the FX majors, which drive the other currency pairs. Learn to see what Crude is doing and Gold becomes predictable. Learn to see what Gold is doing and the GBPUSD EURUSD USDCHF USDJPY become profitable to the tune of 200+ pips on a good day.

See the attached set-up. Crude moves south, Gold follows. Gold moves south GBPUSD & EURUSD follow with USDCHF & USDJPY going in the opposite direction. How easy is that ?
With very limited knowledge one can operate this system at any time, when it suits you

For more details of the Correlation then please click here

You will only need 25 pips a day to become rich and the £10k a day attachment will demonstrate just how easy it is to build your bank if you have the right attitude.

For full details of the strategy, please click here

For details of the template, please feel free to drop me a line. thefxpimp@hotmail.com

Please feel free to ask questions either here or on the School of Pimpology thread, and why not join our free-for-all Skype chat, where we trade this strategy together.
There's experts and novices alike so don't worry if you've never traded before, just join and see whats going on. You'll learn much quicker, and you might even have a giggle at some of our crap jokes. Click here to join in.
Alternatively, add FX Pimp to your Skype contacts for all updates and I'll add you to the chat myself.

Good Luck & Happy Pimpin'

iGoR · #2 (**permalink**) 08-23-2008, 11:11 AM

This is the result in less then a year if you make every day 25pips. +22Milj pound.

But we all now that this is impossible because it would mean that you have only profit and never any draw downs.

One will even not come close to this.

As I explained already severall times here on this forum:
If you want to make 25pips daily one can expect scenario's like this:

1st day: -25 (instead of +25)
That means that if one wants to stay on track he needs to make the 2nd day 25 for that day and an other 25 pips to recover from day 1 and an other 25 pips to make the profit of day 1 so that means that he has to make 75pips on day 2.
If he makes an other loss of 25 pips instead of making 25pips then one needs to make on day3 25 pips for that day, 25pips to recover from day2 + an other 25pips to make the profit of day 2. He needs to make 25 pips to recover from day 1 and an other 25 pips for the profit of day 1. Meaning that he needs to make 125pips ...............
Needles to say that if one has severall days losses and bigger then 25pips (wich happens to the best traders) that the beautifull dreams and plans one had according those spreadsheets quickly come to an end.

Don't get me wrong, I don't want to sound destructive. You are a very helpfull person and trying to help people how to trade in a simple and straight for worth way. So keep up the good work.
That good work should be also in realizing that bigger losses can happen and aspecially if you will try to trade the 5min charts in narrow ranges or strong consolidation days where price will stay in a daily range of +/-50pips.
Loosing 100pips in a day like that is no excpetion. Because in a consolidation market with constant false break-outs, the moment that cci indicators and MA's ligne up for an entry it will be the end of the move and one wil see that he continiously buys on tops and sells on bottoms. And there is no indicator or little light that will show up at the start of the day to warn you for a day like that.
The result is that even the best traders can not come close to your spreadsheet or the results on the image I posted.

As said keep up the good work...iGoR

FX Pimp · #3 (**permalink**) 08-23-2008, 11:33 AM

Thanks for the input Igor. It's good to see that not everyone is a dreamer.
I too have followed a lot of your stuff on here with great interest. Your Zorro system was one of the first things I came accross on here that was any good. Hat's off to you, Sir.

The spreadsheet is just an example of what IS possible IF you can consistently average 25 pips a day and keep a level head.
I am not suggesting for one minute you should get 25 and run, for there will, as you quite rightly pointed out, be days when one would expect to lose.

However, since the correlation strategy I use is based on the direction of Crude and Gold, it is always likely that if these two are trending together, that the majors will also be trending together.
When Crude does one thing and Gold the other I will stay out of the market as the pairs will stay, more often than not, in silly boring ranges.

This is how many of our little community have 100+ days

PS. Love the "it might take you 3 months to become a millionaire".
You can see why 98% of 'punters' fail at this game.

iGoR · #4 (**permalink**) 08-23-2008, 11:58 AM

Correct about the correlation but remember that this correlation is not going to last.
The oil is under a lot of presure because of the euro. But a year ago there was no such strong correlation or any correlation in that way that one could build a system on it or getting usefull information from it.
Indeed as long as it last one needs to take full advantge from it but for all the same in a couple of months that significant correlation is gone.
Some people who trade my system look also to that correlation to have some idea how long they can stay in a trade or how much potential is still left on the euro.

Regards...iGoR

PS. I'm the DUDE who talked to you about the BUND futures and correlation between BUND and FDAX

FX Pimp · #5 (**permalink**) 08-23-2008, 12:22 PM

Quote:

Originally Posted by iGoR

PS. I'm the DUDE who talked to you about the BUND futures and correlation between BUND and FDAX

You know something? I thought it might have been you. Futuremaster or something similar.
I distinctly remember you talking about bund on one of your threads before and since that time I had never encountered anyone else speaking of it until just the other week.

I couldn't agree more with the whole correlation thing. It won't last forever.
Maybe next year Euro will be closely matched to Soybeans or Pork-bellies, but for the minute, it's Gold and Gold doesn't get much of a free ride north if The Lord of Darkness, Cude, is travelling south.

Here's a daily chart of Gold in the middle EURUSD at the top and USDCHF at the bottom. Euro has been pretty good at following Gold this last year, whilst Swissie has been doing the opposite.
I know you know this but for the benefit of other readers I post the picture anyway.

Until such time as this link is severed I will continue to milk it.
Once the correlation diminishes we'll have to get our heads together and move to plan B.

Keep up the good work.

Pauluk · #6 (**permalink**) 08-23-2008, 12:53 PM

Hi FXP,

I found your spreadsheet very inspirational! I suppose that the bigger challenge will be one's psychology and mind-set in trading ever larger pip amounts, rather than finding a broker willing to accomodate!

Igor is quite right, of course, however like all good and knowledgeable traders, one has to continually adapt strategies to the situation. Igor has done this, and so I believe have you and Dan.

With those kind of adaptations, there should be no reason why significant incomes should not be possible with a good strategy, mm, and the right mind-set.

If it took me 2 yrs to make 10k a day rather than 1 yr per your spreadsheet, I shall be a very happy chappy!!

Thanks again for your simple but effective strategies.

Pardy

Pauluk · #7 (**permalink**) 08-23-2008, 12:58 PM

If the fx markets stop behaving themselves and become bound in tight ranges, you could of course always trade energies and commodities, maybe pork bellies and orange juice!!

Pardy.