The London Open

Hi all

Great effort..Not everyone traded today and quite a few newbie's learning the strategy which is fine... Always good to sit on your hands (if u have any doubts) and learn... We teach u along the way..

Send [email protected] an email

Dan007

Wow.

Those results are pretty impressive, Dan.

The great thing is that there's 5 or 6 people there (names not mentioned), who were actually losing money in their first few days due to bad money management, and are now making very good pips.

It's very re-assuring that the strategies you teach can turn a losing trader into a winning trader after just a few sessions.

Keep it up 007 and the MBC boys.

Was a little double bottom with divergence wasn't it ? Very cheeky 40-50

Hi FXPimp

Yes nice trade in Gold... Cheeky but 84CCI did his job again.

Cheers
Dan007

Hi all

I hope you didnt get caught on the Crude with the 84CCI crossing..Was speaking with the guys and all decided against it, as Dow opening times can be vvv dangerous as we know...Afternoon always throws challenges and thats why i prefer the stealth approach to the London open and get in and out quickly...

Dan007

Hi All,

Just wondering, with the swissie & yen moves lower from earlier now looking spent and some renewed dollar strength after good numbers coming in, coupled with a possible fall-off on crude and gold, whether the euro may fall off a bit this afternoon.

Any ideas ???

Hi Dan & all,
A bit quiet this morning, but we did go short on the GBP/USD as the CCI's broke through the '0' line & through my support line drawn in for 51 pips

Yesterday went short on DJI as it broke through trend line 15 min chart for 99 pips and the CCI's and M/A confirmed.

See attached charts:

Hopefully we will have dollar strength this afternoon with those strong results. Report later,

Cheers Dan & all,

Simon

Waiting for ISM figures.

Hi all

Point to remember like the Gold trade earlier... I enter on the break of the resistance line, with the 84CCI and my target was the 60min Blue 50 moving average...

Get in, take pips and get out at target price... I dont tend to sit on trades in my short term book wondering if its going to go up anymore...Longer term is a different story all together...

Its like riding a wave, not that i am a good surfer... I get in when the momentum is powering up..

Hope that makes sense.

Dan007

FXpimp

You know my thoughts on EURUSD...Its going down but short higher up above 1.5600 as discussed..Got to get right entry point...

Dan007

Hi all

Messy now to be honest...Got other work to do but will be on here discussing trades etc each afternoon..

Would be good to hear from people etc... FXPimp is vv chatty which is good.

Bet you he's not a surfer!!! Would have to be a big board!!! One of those Hawaii long boards!!!!

Dan007

Thanks a lot double-0.

You're big enough to be my surf-board, I hear. Monkey-Boy tells me you are calorie king.
Yes you're right about the Euro, and with Gold holding quite well wouldn't get myself drawn into that trap. Needs a little retrace to the 4hr 20ema doesn't it.

Not into trading P.M anyway, as you well know. Hence the London Session Trade Room I attend with you and all your guys.
So glad you stick to those hours. It can get very messy in the afternoon can't it ?
Besides, I'm almost 300 up on the day so not in a habit of wanting to give any back.

Anyway, I'm off for the day, but will make sure I give my overview on a daily basis at 6 A.M and try to shed the light.

If anyone wants an insight into the Trade Room, please email me.

Hi Dan and All,

I`m Chris, been on the MDS live room since it started, and would thoroughly recommend it to anyone who is thinking of trading. Dan and his team have done a fantastic job in producing a great environment to trade, and I really look forward to the sessions. The techniques and how they are implemented were relatively new to me , but I am now benefitting and making good pips each day.

It is also good mixing in the indices, gold and crude and learning the relationship between them all.

So long may it continue, and thanks again to Dan and his team ( that includes you Zak)

Stay away from Crude at this time...

Leave this to the big boys unless u want 500 point stop losses...

Crude Inventories came in at -4.8m...

Still like this back to $115...

Dan007

Hi Chris

Glad you enjoy the room... Good to have you on board.

Cheers

Dan007

Dan,
Just been following the DJ and entered at 12416, as discussed. My trailing stop loss of 30 points got taken out on a retracement. 15m cci 21 and 84 strategy worked well, alas my money management stop loss strategy worked less well. In stead of a rising 50 pip gain I ended up at a 9 pip loss. Be interested in your comments on best position for stop losses on trades following 21/84 cci rules. THe video masterclass is very clear and an excellent resource.
Cheers,
J

Hi Rockdrive

Good to speak with you...

Yes many traders call good trades but the successful ones mange them well...You called this trade spot on as discussed and that is why i dont use a trailing stop loss... This is only me personally but again up to u guys.

The key here was the 84 CCI and the elastic band pullback to the 200ma. Yes the 50ma would have been a good target as discussed and maybe close 50% of the trade then..However stop loss needed to be below last trend reversal which was below the 12350 level...At 2pm we saw a 123 setup with a small retracement...Key here was that it held the 12350 support level so an entry point was at the 1st green HA candle and entry at 75ish with stop at 40... 35 point risk, no problem...

I didnt take this trade but thats life and i move on..They key though as we discussed is not to jump in too late... We couldnt predict the Dow to rally 150 points today without a retracement... One of those things and we move on and find next trade..

Cheers...I'm off for swim in the pool.. Very hot

Dan007

Hope that makes sense.

Dan,
I have reviewed and will not be using a trailing stop from here on. Spotting the right trades to enter is great but unless you can manage profit it is kind of pointless. Good lesson and thanks for the insight on e/u trade. Hope you enjoyed the lilo and taking in a couple of rays, followed by an ice cold san miguel - perfect end to the day.
Looking forward to tomorrow morning.
Cheers,
J

Hi

I will go through this with you all tomorrow again...

Ice cold san miguel is going down a treat...

No lilo's in my pool unfortunately... Thats more FX Pimp's style, with a cherry in his cocktail...

See ya tomorrow.

Dan007

I tell you what boys,

when the Pimp hits the pool in his purple Spandex hot-pants, you WILL know about it.

Cherry in my cocktails ?? Not for me chap, more of a Tequila in my sunrise kinda guy. ie, first thing in the morning. Sometimes reluctant to pull the trigger if I'm trading sober. I find a Tequila in the morning loosens me up.

How about you, double-0; still doing that olive and twist nonsense in your lemonade top whilst dressed in your grass-skirt ?

"Tequila in my sunrise kinda guy. ie, first thing in the morning. Sometimes reluctant to pull the trigger if I'm trading sober. I find a Tequila in the morning loosens me up."

Well fxpimp, like the saying goes..pimpin aint easy!!