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The London Open

  • #121
  • Edited 1:23am May 30, 2008 1:12am | Edited 1:23am
Quoting rocwell
am i right that to go short for example, i should wait until the cci crosses down from the 0 through to the -100? or is it ok to look for shorts when the cci starts to cross down from 100 to 0? i hope you understand what I'm asking and thanks for your patience!

FX Pimp,

This is also bit confusing for me.
  • #122
  • May 30, 2008 4:11am May 30, 2008 4:11am
Morning all

Great end to the week in the room and all pulled together.

Gold and Crude decides to sell off and this helped our USD long positions for the London Open.

Crude broke through 126.00 and many took 70-90 pips on this.

Gold looked heavy and broke support at 878 for a move to 870 and the 21 CCI on the 15min took us out of this...

EURUSD looked the most attractive on our short term book. Remember we are still short on our longer term book above 1.5600. However we added to this on the break of 1.5515 on the break down to 1.5470, with many taking 25-40 pips here...

GBPUSD was called on the break of the 1.9750 for a move to 1.9700. Simple, controlled and perfectly managed by Gareth and Gordon on the GBP team.

USDCHF moved up with the break of the resistance level at 1.0490 but didnt take off and many took profit for a cheeky 15 pips.

Overall a great start and looking forward to our special friday afternoon session.

Enjoy

Dan007
Attached Image(s) (click to enlarge)
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  • #123
  • May 30, 2008 4:17am May 30, 2008 4:17am
Quoting Dan007
Morning all

Great end to the week in the room and all pulled together.

Gold and Crude decides to sell off and this helped our USD long positions for the London Open.

Crude broke through 126.00 and many took 70-90 pips on this.

Gold looked heavy and broke support at 878 for a move to 870 and the 21 CCI on the 15min took us out of this...

EURUSD looked the most attractive on our short term book. Remember we are still short on our longer term book above 1.5600. However we added to this on the break of 1.5515 on the break down to 1.5470, with many taking 25-40 pips here...

GBPUSD was called on the break of the 1.9750 for a move to 1.9700. Simple, controlled and perfectly managed by Gareth and Gordon on the GBP team.

USDCHF moved up with the break of the resistance level at 1.0490 but didnt take off and many took profit for a cheeky 15 pips.

Overall a great start and looking forward to our special friday afternoon session.

Enjoy

Dan007
Nice - managed the GBP/USD for play down from 1.9778 to 1.9720 for 58 pips. Good call on crude.
  • #124
  • May 30, 2008 4:37am May 30, 2008 4:37am
Hi Rockdrive22

Well done... I cant wait till this group gets up to 1000 a week... We r driving each other so well here...

Jack had our 1st 500 pip week which is great.

So much potential and what a team.

Dan007
  • #125
  • May 30, 2008 6:11am May 30, 2008 6:11am
Hi all

Gold is showing a little support here.. Interesting from 880.00.

USDCHF holding 1.0475 but still looks heavy. Needs one big push up with Gold, to make USD weaken here... One to watch.

That Friday afternoon feeling makes me shiver!!!

Dan007
Attached Image(s) (click to enlarge)
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  • #126
  • May 30, 2008 6:12am May 30, 2008 6:12am
However do watch Crude, as this could pull Gold around...

Careful money management here..

Dan007
  • #127
  • May 30, 2008 7:05am May 30, 2008 7:05am
Hi all

USDCHF didnt break 75 so no trade....

Look at that GOLD.... What a peach of a trade...Lovely Jubbly. Bubbles for FX PIMP soon.

Dan007
Attached Image (click to enlarge)
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  • #128
  • May 30, 2008 7:44am May 30, 2008 7:44am
Hi all,
Another good morning.

Went short on GBP/USD - 57 pips, got greedy as I convinced myself it would colapse through the daily 20 M/A but retraced & got out (not bad). Went short on Gold for a few pips first thing, then long as the dollar weakened - 98 pips.

Looking for a good afternoon. Some Fridays can be & some not, but will work with my CCI's & M/A's - they are so powerful.

Yesterday made 92pips short on Gold, then 58 short on a nervous trading session with crude as it nearly wiped me out - very hard to trade on crude in the afternoon I think. Anyway I survived.

Cheers,
Simon.
  • #129
  • May 30, 2008 3:12pm May 30, 2008 3:12pm
Kennard,

I hope you are well. Good to see you here, playing with the big-dogs !!

What exactly don't you understand on the CCI. Dan is your man, but I'm following the strategy too so can answer some questions regarding this matter.

Sorry for the delay. been busy counting my cash for the week.

Good one short on the Gold then long too today hey, 007 ?
  • #130
  • May 31, 2008 1:02am May 31, 2008 1:02am
Hi FX Pimp

Yes Gold has been a controlled beast this week and made good pipage on it.

Well done to you with your great trades this week...

See u monday.

Dan007
  • #131
  • May 31, 2008 4:26am May 31, 2008 4:26am
Quoting Dan007
Hi FX Pimp

Yes Gold has been a controlled beast this week and made good pipage on it.

Well done to you with your great trades this week...

See u monday.

Dan007
Dan busy setting up my charts for Monday. Thanks for the really helpful input on Friday. Decided not to trade on Friday and left the USD move. Enough pipis available for another day! Looking forward to a new week of trading. The tequila was excellent.
  • #132
  • May 31, 2008 4:45am May 31, 2008 4:45am
Quoting FX Pimp
Kennard,

I hope you are well. Good to see you here, playing with the big-dogs !!

What exactly don't you understand on the CCI. Dan is your man, but I'm following the strategy too so can answer some questions regarding this matter.

Sorry for the delay. been busy counting my cash for the week.

Good one short on the Gold then long too today hey, 007 ?
Hi FX Pimp,

Thanks for your reply.Glad to see you had nice profitable week.

About CCI:when can I enter? If CCI cross 0 line or if CCI cross +100 line (when entering long trade) / -100line(when entering short trade?

Regarding time you trade, how many hours from London open you trade? First 2,3 hours after opening or...?

How many pairs and commodities you are watching in the room?


Have a nice weekend.
  • #133
  • May 31, 2008 7:58am May 31, 2008 7:58am
Such a glum feeling when you start the computer and see the stationary charts. How depressing !!

Hope you all had a great week. Looking forward to working with a lot more of you in the future. A fantastic little team forming and a great atmosphere.
Just doing the P&L for the week and seem to be missing a couple of hundred pips somewhere. I'm sure I was in the 1k club again, but no. What a failure.
Knew I should have scalped the crude charts just before the close.

Kennard, CCI crossing the 0.0 is a good one with a cross over the 100 confirming the move, then a possible exit point when it crosses back below.
All these points are discussed in more detail in the room. Why not drop Dan a line and see if he could squeeze you in at some point. Tell him the Pimp sent you !!

As for times. Nothing like making a lump before breakfast. We trade 7-10 am then hit the pub !!
  • #134
  • May 31, 2008 10:01am May 31, 2008 10:01am
Hi FX Pimp,

Once again thanks for update.

THanks for your offer to try Dan's room.As he mentioned somewhere in his previous post I sent an email regarding room and I already asked Zak to find some spot in room for next week.
Hope to meet you there on Thursday.

Last 2 questions before next week.

1/As far a I know "room" trade many pairs and also crude,gold etc.I only trade cable-how many pips room made on this pair last week?

2/The time you mentioned 7-10 am is Franfurt time or London time?
  • #135
  • May 31, 2008 11:17am May 31, 2008 11:17am
Hi Kennard

Yes the room look at 4 main currencies and pick the best pair or two to trade each am from 6.45am London time...

Don't get in the trap of only looking at one currency pair. Especially one like Cable, as it has lost a lot of direction and if easy trades are there to be taken on USDJPY, USDCHF, EURUSD, GOLD etc, it is worth taking them.

I cant remember the overall pipage on Cable last week, as not at work but from memory, Friday offered the easy 50 pips on the break down and then the higher low in early avo, for a break up for a cheeky 75. As mentioned the committee all look for 1000 a week and i tend to expect that from them.

Its a good currency but we teach u how a chart is a chart and not to be shy of looking at other charts.

Dan007
  • #136
  • May 31, 2008 11:20am May 31, 2008 11:20am
Hi Rockdrive

Glad you have joined the team...Lots of fun to be had and lots of ideas to be shared...

There is no presssure to trade so learn as much as possible and the pips will start rolling.

Take it easy in the 1st week and control the risk..

Had too much Rioja last night and head is feeling it today...33 and past it!!!

What happened to the good old days.

Da007
  • #137
  • May 31, 2008 12:48pm May 31, 2008 12:48pm
Quoting Dan007
Hi Kennard

Yes the room look at 4 main currencies and pick the best pair or two to trade each am from 6.45am London time...

Don't get in the trap of only looking at one currency pair. Especially one like Cable, as it has lost a lot of direction and if easy trades are there to be taken on USDJPY, USDCHF, EURUSD, GOLD etc, it is worth taking them.

I cant remember the overall pipage on Cable last week, as not at work but from memory, Friday offered the easy 50 pips on the break down and then the higher low in early avo, for a break up for a cheeky 75. As mentioned the committee all look for 1000 a week and i tend to expect that from them.

Its a good currency but we teach u how a chart is a chart and not to be shy of looking at other charts.

Dan007
Hi Dan,

Thanks for your reply.

Yes, its better to be open for other pairs as well.The reason I asked is that I too trade only London open and only on cable, and recently (past 2 weeks) noticed cable lost bit of steam.

I look forward to be in the "room"(providing Zak will send me invitation) and hope to learn something new.
  • #138
  • Jun 1, 2008 2:06am Jun 1, 2008 2:06am
Hi Kennard

I'll have a word with him.

Have a great weekend.

Cheers

Dan007
  • #139
  • Jun 1, 2008 4:02am Jun 1, 2008 4:02am
Hi Dan,

Thanks a lot.

I ve got an email from Zak today so I will probably try room on Tuesday.
  • #140
  • Jun 1, 2008 4:28am Jun 1, 2008 4:28am
Hi Dan,

Good morning, if you have a little time could you give some insights into your particular closing strategies, this is the part I find especially hard, I see you quite often use round numbers for exits, is this intentional.

Second question if I can, I'm a bit confused about the relationship between gold and different pairs, nothing seems especially strong when looking at charts side by side unless we are in strong move.

Thanks for your help so far, we had a fairly good set-up similar to yours in some ways, what was missing was integrating price action into the use of the indicators, its no good just saying the cci has crossed the zero line so its a trade like we used to.

You need to know the reason for the cross, be it trendlinebreak, support break, move back to ma's etc.

Thats the missing piece of the jigsaw you have shown us, we are now looking forward to monday morning instead of just watching charts going up and down randomly.
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