Immy's Corner [The Setup The Hunt - T20's and more]

[immy]

Hi, I'll be posting mostly Trades Taken with Grant Techniques this month.

I've had two trades this am which resulted in a total account growth of 2.5% appx

Nothing to moan about all happiness and joy here!

First Trade the Whole Group Took Together!

Grant, Erik, Andrew, Jim, (perhaps easyman) and myself. I dont know who else!

11-12-01-b.PNG

Second Trade - Quick Retrace... Price could not break 1.3500 so it had to go somewhere so down it went. First waited for price to break belwo aims, it was against purple so did not take it, then it setup for Setup 2 below purple. took 11pips quick. Reason I took 11 because in my opinion this trend started at the "Break of First AIMS Level outside the Sleeping Alligator's Mouth". That happened at 12.02. Then I entered at a point where usually I would stick in an Add-On to increase my return on investment. By the time I take the second add on I'm heavier than usual so I keep my stop loss closer. On this occasion I hit the exit quite nicely.

11-12-01-a.PNG

[immy]

Some Trades during the day, I guess I will always end up making more trades than Grant. Which is good in a way since we would find out whether I can beat his performance by trading more or is it better to deliberately leave the screen and miss some trades. Since hte succcess rate is around 50-60% anyway it really does not matter how many trades you missed. What matters is how many trades you took and managed according to rules. if you muck up with money management and trade management you muck up your "Edge".

so here are the trades.

Basically I took some extra but remained at the same 2.4% growth for the day. here is how.


Quitely took this trade, I could not tell the others... hmmm, but the damn thing did not pay off anyway!
oh well paid back 0.5% ok NEXT

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Then a very good setup. Took beside the fact there were no fresh aims but AIMS Levels were not too deep.
followed the rules and exited for a -3. Paid another 0.23% Rent.

11-12-01-d.PNG

and then finally go the paid rent back and finished the day with the same 2.4% up! (rofl)
though I missed one just before this, though that would have been a -2 so lucky me here!

11-12-01-c.PNG

[immy]

I thoroughly Enjoyed this trading day. Grants Technique is very 'Mechanical' very objective and mighty successful. Well Done Grant and Keep the good work up! Cheers matey! Well Done! (you've changed me buddy, you must be something)

[immy]

Oh well, Grants Approach Second day
2.5% for the day, that brings me to
6.9% Up for 2 days. If it only goes like this for the next few months, you're talking some good revenue here. And there is no reason it should not!

Here are the trades

Trades
1. +0 BE
2. +33 (2.5%)
3. -6 (-0.5%)
4. +21 (+1.6%)
5. +14 (1%) (Erik Took 3% on this, I just took 1% only because I "thought" this was enough for me) well done for sticking to rules properly!

Today: 4.6%

Total for Two Days 2.4+ 4.6% = 7.0%

11-12-02-a.PNG

11-12-02-b.PNG

Thank You Grant

Here are the pics!

[snorm]

Great trading Immy. I see, on the the first M5 chart, a nice ITB with your entry then off the M1 - could there be something in that ... ?

[immy]

Hi Steve

Its interesting. The reason I like your ITB is this. I used to trade m15. and I used to make entries on AIMS Levels. At times when the aims levels were too high for me to trade but the trend was confirmed, and I wanted to get in on it, just like it is in the M5 chart to the left. I wanted to make an earlier entry. But I also wanted my entry to have a certain criteria and not just a market order somewhere above / below a line. So I looked at several different things. What I found was this. I would find Setup 1 on M5 (since I was trading m15, i'd go down to m5) and find a setup 1 inside the setup 2 on m15. Before setup 2 would trigger on m15 I'd be already profitable. Now for this remember that I was doing that only because the aims level on m15 was too tall and I thought by the time i enter the trade it would have travelled quite a lot but the trend was confirmed so I wanted to enter and take advantage of the trend. Like wise I started doing this on m5 and m1 and never looked back. At that time everyone, even my 'mentors', used to tell me that m5 was too fast a time frame and that I was mental. But I found no difference.

So in doing so my entries are always made using Setup 1 or 2 but I'd go back and forth between m15 and m5. Now I dont go back and forth, I put both m5 and m1 up and keep looking at them and look for a setup.

The m5 and m1 5x mulitple is a miracle. Probably has to do something with 5X since an AIMS Level is made of 5 candles. anyway.... Your ITB on m1 has to be an AIMS Level break on 12sec or 20second chart. As you know that 'the balance line trade' (which I'm going to discuss in the advanced technique section shortly), can address the issue of objective entry criteria. In short, when on m5, a balance line trade is 95% of the time, AIMS Break on 5x lower time frame.

Conclusion: I take the ITB's but I take a Setup on m1 for an ITB on M5. If I were to take ITB on M1 I'd use BLT (Balance Line Trade) as an entry technique for ITB.

cheers!

ps: Interestingly one of my friend/mentor has joined my Skype group recently. Thank you Andrew, I still have to sit beside you and watch you how you trade, Do you still remember you promised me that?

[snorm]

All of it just comes down to: simple price action at obvious support/resistance levels across the time frames - that's what makes AIMS so good. Simples!

BLTs and ITBs are great examples of PA at S/R. I'm looking forward to your addition in the advanced section.

Good stuff, Immy and a big welcome to Andrew.

[immy]

Oh Yes Snorm,
All the TTB and QQC and GGSSTTp$Qr are great...

[immy]

Some Nice Trades for me Today, very nice on m5 and a 3 trades using Grants Technique today on m1. +1.5% up from 8 to 9.5% on Grants Technique.

Please visit my blogto see the trades. Or Watch the video in the Daily Digest Section (Premium)

[immy]

Another quick trade today. Missed the middle bit sine I had gone out for something!

As soon as I came back I saw the m5 was peaking but with no divergence. So I looked at m1 there was enough space for it to try the upper aims levels. It did touch it rebounded I was at brreak even by then and then it broke off. That created a divergence on m5 and hit my target for the day as well. The first trade was a bit tricky since it was coming out of sideways market. but we hit it above the m5 aims level at 20. out for a set target of 13 pips. (just doing this 13 pip take profit for this week only.

Grant Technique Up = 16% (14% since two trades he rejected that he would not have taken, but I thought they were ok) approx

some more info on the chart.

What is the difference of Cross of Zerol Line before a peak of AO and after a peak of AO.

One is towards purple other is away from purple.