Hi Samfxsam wrote:Hi Immy,
I have been using AIMS since 9 months. I understand rules & method about trading with AIMS system but i am still developing skill to avoid losers or have less losing trades. I have been trading 15 mins & 30mins time frames. One of the common problem i am facing is, i start my week really well and then in last three days of Market due to losing trades my most of the profit wipe out. In my exit strategy, i am using hard TP of 50pips which i change if trend doesn't reach that target. I think understanding when to take trades using AIMS is easy but when to avoid is hard part to understand. This is affecting my trading performance. Can you please help me with this as others might have same issue as me ? Following are my losing trades which were taken during week 19-23 Nov 2012. Most of these trades reached to SL and few of them i closed manually as trend turned against them.
Sam
I am glad to see this post. The very purpose of this forum is to entertain such posts. However, it would have been much better had you started your own journal 9 months ago as I see some basic mistakes in your entries. Those could have been avoided months ago. But its never too late. Let me go one by one.
It'll take some time, so I'll keep posting and updating, in case you catch me half way through. :-B
Trade 1. EUR/USD 19 Nov M15 Trade 2. USDCHF Date Unknown (I guess its 20 Nov) M15
Clearly first trade is inside AIMS Box, Not allowed. Second trade, a. AIMS levels to the left were too close ,price was going sideways so we need to make sure we trade near the top/bottom of range. You took the trade, meaning you tried your luck, but it did not move. Exit was a bit too early and premature but still since you may have realized there was not trend, it was good for you. But we must stick to our exit rules. It was clearly a choppy day. These things will happen and are very hard to avoid. You just have to take a trade or two and if it does not work leave it alone, tomorrow is another day.
Trade 3. GBP/USD M15 22 Nov.
The trade taken as an attempt to get into a 5th of the previous 3. Price had moved quite nicely during 21'st of nov. and earlier part of 20th of Nov. The Setup was correct. nothing wrong with it. Its one of those 50% of trades that we have to live with. Trade 4. AUD/USD M15 23 Nov Trade 5. USD/JPY M15 20 Nov Trade 6. EUR/JPY 23 Nov
) or perhaps run out of fuel and land in the middle of a desert or an ocean. So A Journal is our way to "Monitor our Performance" and "keep us on track" 
