The London Open

[Dan007]

Ok market clear as mustard now!!! Crude falling, Gold heading north!!!

Price action in Cable is poor but weak. EURUSD still looks weak and 252 cci very close to falling.

Up 50 and don't want to get greedy. Breakfast time as made daily target again of 50 -100 pips.

Speak later.

D

[Dan007]

Hi

Just got back after a lovely swim... Am i gutted i didnt hold EURUSD, CABLE & GOLD...? Yes & No...Maybe a little because of the size i traded at, but i have learnt in this game that if u get annoyed when u cut too early and get annoyed when u get stopped its not much fun trading.

Money management is key..At 50-100 pips a day, i can live very happily. Of course 250 pips today would have been nice and made my minimum weekly target in the 1st morning but i've got to be content with what i've got..

Its only my 2nd (short term) trading day back and made 180 and 50 in 2 days so the confidence is at least moving in the right direction. Consistency is key here... I know too many traders who make 100 pips in the am and then blow it all, plus more pips later on in the afternoon. For me as long as i hit 1000 pips minimum per month, thats 12,000 per year and i will be a vvvvvv happy man and the wife and little one are looked after for good.

Anyway as mentioned its all about the pips...

Speak later. Hope u arent all bored with my chat...hahhaa. Apologies if u are...

Pls join in as i'm very happy to help.

D

[rockdrive]

Hi Dan,
Been working with Honest Bill who had a stellar morning...we were trading gold, cable, usd/chf and crude. Came away with 192 pips this morning, and like you am very happy with closing the pip tin for the day......

Honest Bill was the star of crude and was gulping the stuff down using the 5m strategy and cci cross.............It was great to see and I am delighted for Bill as he has been working his socks off on the strategy. Nothing comes easy - hard work pays off.

Glad you enjoyed the swim.....I too have a pool in the garden, unfortunately its not heated and only seems to be a dirty brown colour...........but with the water now receeding I can again see some of the lawn poking through!

Lucky beggar!

Mud Stroke Rockie

[Dan007]

Hi guys

Well the inevitable has happened and EURUSD and CABLE drop like a stone... I said this am that the daily 20ma would be a major resistance...Oh why did i not hold it!!! I am an idiot sometimes!!! Nevermind... The good news is i feel very confident in reading my charts again after a long break.

Look at the 60min and 5min charts. The ma's show me the way and the CCI's guide me.

I do try and post as quick as poss when i trade but u must understand that it is difficult...You prob wont get in at the same level but the main thing is u learn why i traded it. After a week u will get an idea and u will be able to do it yourself.

I might get my wife to blog while i trade!!! hahah.. I'm sure she will be happy with that!!

D

[Dan007]

Originally Posted by rockdrive

Hi Dan,
Been working with Honest Bill who had a stellar morning...we were trading gold, cable, usd/chf and crude. Came away with 192 pips this morning, and like you am very happy with closing the pip tin for the day......

Honest Bill was the star of crude and was gulping the stuff down using the 5m strategy and cci cross.............It was great to see and I am delighted for Bill as he has been working his socks off on the strategy. Nothing comes easy - hard work pays off.

Glad you enjoyed the swim.....I too have a pool in the garden, unfortunately its not heated and only seems to be a dirty brown colour...........but with the water now receeding I can again see some of the lawn poking through!

Lucky beggar!

Mud Stroke Rockie

Excellent work with the both of you...That is a great morning and i am so happy that its all falling into place.

Not sure where everyone else is but hopefully this thread will stay alive if we keep posting.

Good to be back in the seat and banking those pips. Its all about the end of the month that matters. U r well and truely on for at least 1,000 this month which is great.

Keep up the good work.

D

PS Going to attempt another 30 lengths this avo... Misses likes to keep me fit!!!

[Dan007]

Afternoon all

That Gold is perfectly set for a break.. Its been boxed in since 1st thing this am. I said it would pull back to the 4hr 20ma and then bounce. Will probably break in Asian time or late avo today.

Anyway lets see but it might offer a nice 123 on the upside early tom.
Crude is still in free fall and i wont go long until i find support off one of my ma's. Otherwise look for shorts till then...

I will get quicker on posting as the trades happen but this may take a little time until i get it down to a fine art.

See u tom.

D

[Dan007]

Hello all

Well lovely dinner and lovely wine and Gold is now off!!!

Built a position now in Gold as Indices are a dead weight. Been calling the Dow below 10,000 for over 8 months now... Had many a person laugh at me but it doesn't seem too far away now. Lets see how this goes...

The financial world is in a lot of trouble and I wont even go into it. Everything should have been moved into cash by now and keep it safe.

Keep up the good work.

D

[Dan007]

Morning all

Well i am very surprised how much Gold has fallen off overnight but with Crude in free fall i guess i shouldnt be too surprised.

The usual correlation is losing its power between USD, Crude and Gold and i need to find what is pulling everything around. The market is very confused and by no means a normal market to trade in so be careful.

Where now we ask??? Crude has fallen a long way but who wants to buy when its like this. Trading with the trend is key. It def needs a pullback at some stage so be aware of any cross over of MA's on the short term charts.

Goldhas found support on the 4hr 20ma and is now boxed in. I am going to hold and will cut if falls through my MA. Its not to much of a disaster but it shows that i shouldnt be too clever overnight in a market when i need my beauty sleep. I must stick to the rules!!! So now short term book look for shorts through the 4hr 20ma but wait for the 63 CCI to show you the momentum. Preferably look for longs above the 60min 20ma...


EURUSD will tend to follow suit with the Gold but who knows in this market!!! EUR needs to break the daily pivot on the upside and then look for a move but watch GOLD as this could hinder it.

CABLE has fallen a long way and is its own beast. Its in a small triangle on the 60min and u can see it has found support off its 4hr 20ma. The only resistance above is the daily 20ma around the 1.8100 level.

EUR and CABLE are trying to find support on the 5min so lets watch this space.

Enjoy
D

[Dan007]

Yes looks like cable and eur want to test upside...USDCHF 4hr looks very good to the downside.

So overall looks like USD weakness all round here at mom.

D

[Dan007]

USDCHF 4hr is def one to watch...

Trying to find the direction of the USD but looks weak this am so far...

Keep an eye on the chart as well as the CCis to show momentum.

The pullback could be on at some point.

D