Dave from Sydney's Journal [Awarded Title: the Box-Trader]
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Darren
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Dave
- AIMSter
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Re: Dave from Sydney's Journal
Just wanted to put this pic in my journal so that it's something I see during review.... some food for thought.
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Now, I choose to make a profit in trading.
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immy
- Founder
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Re: Dave from Sydney's Journal
Nice one!Dave wrote:Just wanted to put this pic in my journal so that it's something I see during review.... some food for thought.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
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Re: Dave from Sydney's Journal
Good start to the week 
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Now, I choose to make a profit in trading.
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
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Re: Dave from Sydney's Journal
Very Good Start Indeed!
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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Darren
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Dave
- AIMSter
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Re: Dave from Sydney's Journal
Haha, easy!? I think not. But one foot after the other slowly gets you there!
Now, I choose to make a profit in trading.
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Dave
- AIMSter
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Re: Dave from Sydney's Journal
Very little screen time last week, and didn't manage anything but a couple of impatient rents. Hopefully I'll be available for some good moves this week. Enjoy the weekend all.
Now, I choose to make a profit in trading.
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Dave
- AIMSter
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Re: Dave from Sydney's Journal
Your journal is a great place to record thoughts, not just trade photos, especially when you flick back and see what you've written and how you've implemented these ideas in your trading. It's a quiet (and can I say boring?) day at work so here's today's ramble:
- I take M1 S1 and S2 in the direction of the open M5 alligator, with regard to the M5 eWave (divergence or lack thereof);
- When M5 is asleep I take M5 S1 and S2 in the direction of the open M15 alligator, with regard to the M15 eWave;
- When M15 is asleep I take M15 S1 and S2 in the direction of the open M60 alligator, with regard to the M60 eWave;
- And if I go right through the timeframes and there's not a genuine S1 or S2 and H1 is sleeping then I'm not interested (I can't manage HTF trades yet due to work obligations, but I look forward to the day when all I trade is HTF!);
- My only variation on this is that I trade turns of momentum of the M1 eWave that correspond with the momentum of M5 and H1 eWave. I wrote an indicator for this that's here http://www.itradeaims.net/forum/downloa ... hp?id=5787 but in short it's breakouts of M1 in line with the momentum of the higher timeframe eWave. Nothing groundbreaking, still need to have a regard for the general conditions of the market (ie watch out for the chop, respect HTF levels and trends) but this will get you into trades that the AIMS alert is too late to indicate, think candles breaking AIMS levels and giving a S2 type green dot entry, you can be prepared for the first break and get it as an S1 based on the other S1 conditions (close to ZL, sleeping alligator, HTF alligator showing trend).
An important distinction and one that took a while to settle in with me is how to treat price breaking a HTF AIMS level when you're an M1 trader. Just because price breaks, for example, an M5 high, does not make it an entry on M1, it also has to be a genuine S1 or S2 on M5, and if zooming into M1 allows a smaller stop loss with a genuine M1 S1 or S2 then all the better, but don't just jump at a HTF break unless the normal conditions for a setup are met. That is all.
- I take M1 S1 and S2 in the direction of the open M5 alligator, with regard to the M5 eWave (divergence or lack thereof);
- When M5 is asleep I take M5 S1 and S2 in the direction of the open M15 alligator, with regard to the M15 eWave;
- When M15 is asleep I take M15 S1 and S2 in the direction of the open M60 alligator, with regard to the M60 eWave;
- And if I go right through the timeframes and there's not a genuine S1 or S2 and H1 is sleeping then I'm not interested (I can't manage HTF trades yet due to work obligations, but I look forward to the day when all I trade is HTF!);
- My only variation on this is that I trade turns of momentum of the M1 eWave that correspond with the momentum of M5 and H1 eWave. I wrote an indicator for this that's here http://www.itradeaims.net/forum/downloa ... hp?id=5787 but in short it's breakouts of M1 in line with the momentum of the higher timeframe eWave. Nothing groundbreaking, still need to have a regard for the general conditions of the market (ie watch out for the chop, respect HTF levels and trends) but this will get you into trades that the AIMS alert is too late to indicate, think candles breaking AIMS levels and giving a S2 type green dot entry, you can be prepared for the first break and get it as an S1 based on the other S1 conditions (close to ZL, sleeping alligator, HTF alligator showing trend).
An important distinction and one that took a while to settle in with me is how to treat price breaking a HTF AIMS level when you're an M1 trader. Just because price breaks, for example, an M5 high, does not make it an entry on M1, it also has to be a genuine S1 or S2 on M5, and if zooming into M1 allows a smaller stop loss with a genuine M1 S1 or S2 then all the better, but don't just jump at a HTF break unless the normal conditions for a setup are met. That is all.
Last edited by Dave on 30 Oct 2013, 11:31, edited 1 time in total.
Now, I choose to make a profit in trading.
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Darren
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Re: Dave from Sydney's Journal
Great post Dave :-bd
I have downloaded your indicator and am very curious about it. It would be great to see a few good examples of trades that you have taken using the indicator as a setup.
Hopefully we will all have a good trading week - mine wasn't the best last week either for various reasons!
?
Cheers,
Darren
I have downloaded your indicator and am very curious about it. It would be great to see a few good examples of trades that you have taken using the indicator as a setup.
Hopefully we will all have a good trading week - mine wasn't the best last week either for various reasons!
? Cheers,
Darren