The Pimpsters Simple system, not the holy grail, but darn close
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Thread: The Pimpsters Simple system, not the holy grail, but darn close

  1. #1
    Hello fellow traders. This is an amazing and an outstading forum. I have been trading actively for approximately 1Â 1/2 decades. I have learned much from this forum and very thankful for all the great indiors that I also have downloaded from here and I wanted to give something back. I believe in giving and sharing and passing it forwards. I think that I have a great easy system and there is always room for improvement so I thought I would post it and perhaps get some comments on it. I call this system (the pimpster grail) Anyway this system is so straightforward and easy any novice can do it successfully.
    As all of us know, the market moves in 3 directions (up, down, and sideways). Some traders prefer to proceed with the trend, some commerce ranging markets, along with others counter commerce (most riskier). I am the counter trader. It's not an easy way to exchange but IMO it's the best way to exchange. If you can learn this, I think that you ought to have hardly any bad trades and I will explain how. Granted you won't receive as many trades as you would like, but if you do get a transaction it's pretty much as I prefer to say (MITB), cash in the bank. I traded this egy reside on smaller time frame risking a very large proportion of my capital (I won't say how much, just very high), and I doubled my capital in 3 months (mind you I stated this was reside trading and not demo). I have now toned it down a little and I am risking.

    The secret to this trading system is to have patience and wait for a trading opportunity. Allow the indiors do the work for you and wait for you awake and signs for a trading opportunity. DISCIPLINE is the trick to trading and staying focused. This program works if you strictly adhere to the principles, and if anyone has any ideas to improve this system by all means. This is why I wish to discuss it with you. There is more than enough to share in the FOREX wealth world so why not share. The more thoughts, the more ideas, the better.

    Below in the attachment is my commerce for today for 50 pips on the eur/jpy pair (that one was way to easy). This one was a great setup and basically I knew it was MITB. I would have went for more but I don't like to stay in trades past a certain time. I expect your comments, tips and improvements to this system.

    Let's please keep this forum and discussion tidy from any negativity. We're here for each other and improve our trading skills and of course make cash.

    OK so let's get it down and start making some pips.

    Timeframes exchanged (H4 D1)

    INDICATORS USED RSI, MACD, STARC BAND

    I USE AN RSI INDICATOR THAT WILL ALERT VIA TEXT OR EMAIL WHEN THE OVERBOUGHT AND OVERSOLD LEVELS ARE BREACHED. IT IS ATTACHED.

    H4 RSI ENTRY RULES (40 - 50 PIPS TP)

    MACD (12-26-9), STARC BAND (5-15-1.33), RSI (PERIOD 8, Overbought 85, Oversold 15)
    OPEN BAR ON H4 TF SHOULD HAVE PENETRATED OR IS TOUCHING THE STARC BAND INDICATOR UPPER BAND OR BELOW BAND (THESE WILL ACT AS S/R).
    ONCE SIGNAL IS RECEIVED AND CONFIRMED, Await THE NEW BAR TO BE FORMED ON THE H4 TF. SWITCH OVER TO THE H1 TF AND OBSERVE THE CURRENT BAR. IF THE CURRENT BAR HAS NOT CHANGED TO THE COLOR OF THE DIRECTION THAT YOU ARE TRADING YOU MUST WAIT FOR THE NEW BAR AND IT NEEDS TO BE EITHER RED FOR SHORT OR GREEN FOR LONG.
    THE MACD (DEFAULT SETTING, 12-26-9) CURRENT BAR ON THE H1 TF MUST BE THE COLOR OF THE DIRECTION THAT YOU ARE GOING, RED FOR SHORT OR GREEN FOR LONG. ONCE THESE CONDITIONS ARE MET ENTER TRADE WITH MARKET ORDER AND PLACE YOUR SL ABOVE OR BELOW THE PREVIOUS HIGH OR LOW ON THE H4 TF. TAKE PROFIT OF 25 -- 30 PIPS.


    D1 RSI ENTRY RULES (70 - 100 PIPS TP)
    MACD (12-26-9), STARC BAND (5-15-1.33), RSI (PERIOD 8, Over 85, Under 15)
    OPEN BAR ON D1 TF SHOULD HAVE PENETRATED OR IS TOUCHING THE STARC BAND INDICATOR UPPER BAND OR BELOW BAND (THESE WILL ACT AS S/R).
    ONCE SIGNAL IS RECEIVED AND CONFIRMED ON THE D1 TF, SWITCH OVER TO THE H4 TF AND OBSERVE THE CURRENT BAR. IF THE CURRENT BAR HAS NOT CHANGED TO THE COLOR OF THE DIRECTION THAT YOU ARE TRADING YOU MUST WAIT FOR THE NEW BAR AND IT NEEDS TO BE EITHER RED FOR SHORT OR GREEN FOR LONG.
    THE MACD (DEFAULT SETTING, 12-26-9) CURRENT BAR ON THE H4 TF MUST BE THE COLOR OF THE DIRECTION THAT YOU ARE GOING, RED FOR SHORT OR GREEN FOR LONG. ONCE THESE CONDITIONS ARE MET ENTER TRADE WITH MARKET ORDER AND PLACE YOUR SL ABOVE OR BELOW THE PREVIOUS HIGH OR LOW ON THE D1 TF. TAKE PROFIT OF 50 --75 PIPS.




    https://www.forexsoutheast.asia/atta...1994608144.mq4
    https://www.forexsoutheast.asia/atta...1311734560.mq4

  2. #2
    Daily chart on nzd jpy is ready to be short but the h4 tf hasn't met the criteria. It currently has a candle. I will enter commerce for short once h4 tf has turned. Celebrate nzd/jpy daily chart, it has peaked.

    PP


  3. #3
    Can you wait for the H4 candle to shut or do you input when you see it has turned red only for one minute?

    Quote Originally Posted by ;
    Daily chart on nzd jpy is prepared to be brief but the h4 tf has not met the criteria. It currently has a green candle. I will enter commerce for brief once h4 tf has turned.

    PP

  4. #4
    Your rules do not make any sense.

    You cite the RSI but you do not say how it's used.

    You do not say which direction you exchange with an upper or lower group hit.

  5. #5
    Quote Originally Posted by ;
    Do you await the H4 candle to close or do you input once you see it's turned red only for one minute?
    FraggleRock,
    When the candle turns let us say red, as long as it is exactly the same color as the MACD, I'll enter the trade. Take a peek at NZDJPY, it's already started to make it's movement like I called, and after the candle gave me confirmation by turning reddish, I entered the trade. It didn't matter if it was a new candle or maybe not because I'm just using it as a entrance point to the Daily chart.

    PP

  6. #6
    Quote Originally Posted by ;
    Your principles do not make any sense.

    You cite that the RSI but you do not say how it is used.

    You do not state which direction you trade with an upper or lower band hit.
    Billbss,
    Sorry for any confusion. I basically use the RSI as my sign for indiing tops and bottoms . So with the RSI settings of interval 8 and overbought level of 85 and oversold level of 15, after I get these signs from the RSI, I follow the rules for entry as stated. Hope I sort of cleard up things.

    So basically, RSI is above 85 you go short, RSI is under 15 you move long.

    PP

  7. #7
    I was wondering if you're able to discuss what pairs you trade on this particular method?

    Also, when you were trading on the lower time frames, what time frames were you using, if you do not mind sharing. Were the lower time frames no longer profitable or did you only want to go to a less stressful time frame?

  8. #8
    Quote Originally Posted by ;
    I was wondering if you're able to share what pairs you exchange on this particular method?

    Additionally, if you were trading over the reduced time frames, then what time frames were you using, if you do not mind sharing. Were the decrease time frames no more profitable or did you just wish to go to a less stressful time period?
    This works with all currencies, so long as it fulfills the standards.

    I had been trading the M5 TF and it was really tricky since it is a counter trade system. Your time on every transaction needs to be great or it can and will take off on you. It was also stressful because my risk was quite high. The profits were good but you know the old expression, you wager big you triumph little, and you also lose large. After having 40 consecutive successful trades, I decided to change my tactics and egy while I was ahead. Every now and then I will exchange it that is when for me it's a no brainer not to select the trade. On occasion the setups are so simple. This egy really sets me at ease and extremely stress free.

    PP

  9. #9
    Thanks for responding. I can not wait until I am a member so I do not need to wait for my article to be eliminated first.

    I can see what you mean about the reduce time frames. They can be very hectic.

    If you don't mind me asking would you trade for a living?

    Quote Originally Posted by ;
    This works with all currencies, as long as it meets the criteria.

    I was trading the M5 TF and it was really tricky since it is a counter commerce system. Your timing on each transaction needs to be perfect or it can and will take off on you. It was also stressful since my risk % was very high. The profits were great but you know the old expression, you bet big you triumph little, and you also lose large. After having 40 successive successful trades, I chose to change my tactics and egy while I was ahead. Every now and then I will exchange it that is...

  10. #10
    Quote Originally Posted by ;
    Thanks for responding so fast. I can not wait until I'm a member so I don't need to wait for my post to be eliminated first.

    I will see what you mean about the reduce time frames. They may be quite hectic.

    If you don't mind me asking do you trade for a living?
    No, I trade on my spare time and fortunately I am ready to get trades in at work because I exchange using Oanda's web based sysem. I also exchange MT4 when I am home. I utilize MT4 to send me signals and alerts to my phone when I am at work so that I can get my trades in.

    PP

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