Nikita`s journal

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immy
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Re: Nikita`s journal

Unread post by immy »

Nikita wrote:NYO.
1 rent on EU. If immy will post his EU trade - my was long at the same conditions :)
And GU was a winner.
gbpusdm5.jpg

Nikita , i know your are following the stepping pattern and you've fallen in love with it, and rightfully so, because it really is a great pattern. But let me ask you a question. Have you ever seen Dave trade a setup like this?

We trade S1 and S2s. Reversal pattern are to be trade on H1 and above and only there. That is becasue the wave length of smaller time frames are just not enough for such patterns. I don't know how to explain it but stick to S1 and S2. cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

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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Nikita
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Re: Nikita`s journal

Unread post by Nikita »

I m not trying to copy someone style - it s impossible if you dont have the same character and so on.
Thanks to Dave (his explanation) i ve changed the point of view. Now i see the market in slightly different light.

For me, GU was showing downturn tendecy very clear. After price gone through aligator mouth and m5 level was created - i set PO for sell. But the whole time i had long PO.
But when new lower level appeared, i understand for myself, that probability of deep correction (or retracement) is very high.
Situation on EU was really alike. And a had long PO, and small short, under PC (which appeared not PC). When my long PO triggered, i cancelled short.

And im trading not just boxes. I m just looking for setup in determined place. If there is no setup, i m not gonna trade just box.
I m just trying to find my pace of trading within AIMS rules.
Cheers

P.S. I m sure that i saw Dave does somthing alike. If i will face it again, i ll drop you a link :)
Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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Nikita
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Re: Nikita`s journal

Unread post by Nikita »

Today LO.
My initial SL was pretty big, so i set a very small risk. It was a question about pips and setup - not money.
gbpusdm1.png
Fresh cross, m5 gator up! next to m5/m15 box level.
Closed - 3 peaks divergence

Then with Silas we discussed a GU setup. I warned him that GU is overselled (4 peaks divergency), but later when box was really tiny i set PO with small lot size.
gbpusdm11.png
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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immy
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Re: Nikita`s journal

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Nikita wrote:Today LO.
My initial SL was pretty big, so i set a very small risk. It was a question about pips and setup - not money.
gbpusdm11.png
^:)^ ^:)^ (*) \m/
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

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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Nikita
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Re: Nikita`s journal

Unread post by Nikita »

Today FO session was really ok.
But i face a new problem - i m afraid of losing money. And i m speaking not about rents, this question i ve already answered.
I talking about melting profit..
Here is an example. Nice GU trade, wich i decided to stop : a) 1 reached my session target. b) i was afraid of looking at my profit wich start to melt.
Moreover, all my trades was already FT! That s the point.

If it s not time costly, can you share how you managed to solve this problem?
gbpusdm1.png
And EU trade.. Same problem. Already a FT.
eurusdm1.png
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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francisrama
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Re: Nikita`s journal

Unread post by francisrama »

Nikita wrote:Today FO session was really ok.
But i face a new problem - i m afraid of losing money. And i m speaking not about rents, this question i ve already answered.
I talking about melting profit..
Here is an example. Nice GU trade, wich i decided to stop : a) 1 reached my session target. b) i was afraid of looking at my profit wich start to melt.
Moreover, all my trades was already FT! That s the point.

If it s not time costly, can you share how you managed to solve this problem?
gbpusdm1.png
And EU trade.. Same problem. Already a FT.
eurusdm1.png
Hi Nikita,

I sure don't have the universal answer...Yet I've been facing what you call "fear of melting profits..." To me the answer "TRUST THE RULES". I remember of my week 4 of trading, just exiting so quickly as soon as I got some profit. I realized that I did not master correctly the rules, the exit rules, the patterns when the trend comes to its end. So I spent 2 whole weeks just working on exits until I fully trust the rules. Once I trusted the rules, it's "easy" to follow them. What I mean by "trust" is "see by yourself how relevant they are". Don't just trust them as though it is a question of faith. Just try them, re try and you'll see how relevant they are.

That said, setting a target is also valid IF THAT IS YOUR EXIT RULE! The only point is STICK TO YOUR TRUSTED RULES!!!

Hope this helps a bit buddy!

KR
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Fran
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immy
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Re: Nikita`s journal

Unread post by immy »

francisrama wrote:
Nikita wrote:Today FO session was really ok.
But i face a new problem - i m afraid of losing money. And i m speaking not about rents, this question i ve already answered.
I talking about melting profit..
Here is an example. Nice GU trade, wich i decided to stop : a) 1 reached my session target. b) i was afraid of looking at my profit wich start to melt.
Moreover, all my trades was already FT! That s the point.

If it s not time costly, can you share how you managed to solve this problem?
gbpusdm1.png
And EU trade.. Same problem. Already a FT.
eurusdm1.png
Hi Nikita,

I sure don't have the universal answer...Yet I've been facing what you call "fear of melting profits..." To me the answer "TRUST THE RULES". I remember of my week 4 of trading, just exiting so quickly as soon as I got some profit. I realized that I did not master correctly the rules, the exit rules, the patterns when the trend comes to its end. So I spent 2 whole weeks just working on exits until I fully trust the rules. Once I trusted the rules, it's "easy" to follow them. What I mean by "trust" is "see by yourself how relevant they are". Don't just trust them as though it is a question of faith. Just try them, re try and you'll see how relevant they are.

That said, setting a target is also valid IF THAT IS YOUR EXIT RULE! The only point is STICK TO YOUR TRUSTED RULES!!!

Hope this helps a bit buddy!

KR
Oh what a question.

Firstly I appreciate your question. I appreciate that you brought up such an important issues. secondly I'd like to apologise for not answering when you asked me to look at your journal. Frankly, I forgot. So sorry about that. Thanks to Francisrama :) he kindly has shed some light on it. Fully agreed Fran.

And i'd like to add a little bit but First of all, we must understand that we ought to get the science of trading right. That is the entry, exit, money and trade management rules. They have to be absolutely objectively defined. Once that is done, come the Art of trading. Entries and Exit techniques and rules are there as tools for you to use appropriately. We all agree that its science to create, measure, calibrate and maintain a tool but its an art to use those tools in a "scientific" manner. Its a science to cut a heart open and operate on it but its an art how nicely it is done to perfection. Trading is no different than any sport. There is science involved in any sport but the act of playing is ART.

A trader's mind (the ability to control it) is the most important bit of a trader's arsenal. It is the Mind-Set of a trader that differentiates highly successful, moderately successful, break even, slightly unsuccessful and very unsuccessful traders. The markets are there as a constant. No one can change or influence them, although it is true that the very act of "observing" or "participating" in the market changes the market but that the affect is so minute that its discounted as null effect.

A trader's mind holds the keys to the kingdom of the top 1% of traders. The proponents of chance theory would say that if a lot of people do something there will always be a certain very small percentage of people who will do exceptionally well as compared to the whole/majority but trading IMHO is not like that. After all time and time again, we have proof that people were trained as traders and they did very well as opposed to those who did not get any training from others or self training. One of the biggest example being Dennis' Turtles. They trained million dollar traders and they did very well and still doing very well.

Trading is skill. A mental skill more than physical. Its subtle very subtle at times. The shaping and honing of these skills are mostly intangible so its very hard to measure. I f you were going to a gym and lifting weights. After a few months, your friends might start staying ,hey you've got some muscles on your now, they will visually see that you've gained muscle mass and you have a better shape. And if you did not then you will know you're doing something wrong or not putting enough effort into it. Its tangible. Training the mind, and measuring performance of improvement is subtle.

Many successful traders lost millions over years and decades before they finally found IT, it took time before they GOT IT, it took time before "it finally clicked" for them and they became millionaires within very short times afterwards. I also thought that by the year 2014 I'll hit my first million, but I'm afraid I'm not there yet, i'm quite behind my actual target but I've done quite well as compared to when I started back in 2006. Its a business and it takes time. We have seen some traders become instantly successful and they never look back again but those are rare.

The problem that you face is just one of those problems. Its a good news. It means you're breaking barriers. It means you are breaking new grounds. IT means you are moving forward. There is a very simple rule that helps with all problems of the Mind. And that is learn to be in the NOW. To be in the now is very easy. Simply observe yourself from a different dimension. First take a deep slow breath in and out. 3 times. and then project yourself in your minds eye in the corner of the room and watch yourself what you're doing. Before you know it, you will know exactly what to do. And you'll feel completely alive and conscious and relaxed. Always focus on your breathing during trading. This technique is to be used as a quick remedy like asprin/ pain killer to get out of the immediate situation as well as for long term benefits.

Visualisation, of beautiful trades and following your rules, is a technique one can add to daily routine which will help you to stay calm and relaxed during trading but also your subconscious mind will know what you want in life and will access parts of your brain (universe) and bring forth information in to the conscious mind that will help you achieve those goals that you have already achieved during the visualisation process. To read more about visualisation please go to the Mind Section. I hope some of these meaningless lines that I wrote will help you in a small way. I wish you all the best and I congratulate you for your persistence.

cheers have a great weekend.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

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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wiseambitions
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Re: Nikita`s journal

Unread post by wiseambitions »

"Melting profits"

That metaphor is excellent. I had a week of being too greedy, and being in profitable trades, but holding on to them too long in hope of getting even more pips then watching them retrace, often quite fast, back to where I started. Without joking I probably made 100 pips this week where I could have quite easily doubled that, and had less screen time in the process!

We would be crazy to aim to find the exact turning point, because markets don't move exactly like that, even if they will turn spectacularly and precisely on some of the fib lines. So we have to be happy with moderate gains, hopefully in greater proportions than smaller losses. I would say generally I am better at finding and opening good trades than closing them, and would suggest this is the case for most of us.

I asked about this on my own blog, and was pointed to look up what Darren does. I am also going to do something which I have forgotten to do for several weeks and this is to go back and read the original manual. I know in there Immy talks about getting out on an opposite dot alert, or cross of the green line, and another one is to trail the stop loss by 4 candles when in a good trend. I have also thought it to be a good idea to watch what is happening on the next one and two timeframes down (if I am not in m1 already), and I do also have other trusty indicators which complement Aims, but Immy would say keep things simple. If any one wants to know what these are please PM me so I don't corrupt the Aims method on here.

Yes, trading is a mental skill not physical, although there is still some physical skill in using keyboards and mice correctly, precisely and timely.
I wish more people would come on here to share something on their journals

[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)

1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]

"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
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Nikita
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Re: Nikita`s journal

Unread post by Nikita »

Today only one trade with GU.
I was blind by stepping pattern which perfectly works on m5, but h1 is complex materia.. SO..
I decided that red news dont affect H1 setups.
Enter with m5 red dot at 9:00 (after m5 level break) set SL with H1 level (which was alike with m5).
Full rent. Red news dont care wich TF i trade :-l
gbpusdh1.png
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Who says we cannot predict, you can, thats not a problem, problem is how you react after you've predicted. (c) Immy
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immy
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Re: Nikita`s journal

Unread post by immy »

Nikita wrote:Today only one trade with GU.
I was blind by stepping pattern which perfectly works on m5, but h1 is complex materia.. SO..
I decided that red news dont affect H1 setups.
Enter with m5 red dot at 9:00 (after m5 level break) set SL with H1 level (which was alike with m5).
Full rent. Red news dont care wich TF i trade :-l
gbpusdh1.png
NIkita

Firstly I thank you for your dedication, and posting and being honest about it. these are the traits of a future successful trader. Here is a brotherly advice. I said it before I will say it again. Lets focus on 1 time frame and appropriate number of pairs for that time frame. M1 one pair , m5 2 pairs, H1 4 pairs. I think people mis understand me when i say this. I mean to say, chose either m1, or m5 or h1. you cannot play on three fields at the same time while you're still learning. You gotta decide to stick to 1 pair on M1 or 2 pairs on M5 or 4 pairs on h1.

News are news. if the spike is more than 10-20 pips it will effect all time frames upto h1. 50 pips and above spike will affect h4 as well. and a 200 pip spike could at times sabotage D1 charts/trade but D1 is sort of immune to newsy bits in most cases.

it just depends on "how many pips make your average waves on your chosen time frame". E.g. EU M1 with normal volatility creates 20 pips waves (10 pips more recently) now ofcourse a 20 pips spike would mean price would run away from gators too far too fast. you'll have towait for market to take a breather before it sets up.

keep at it.. .consistency and persistence is the name of the game. cheers cya in the am.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

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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