More crap from me this morning; entry shown below, under the M5 AIMS level. I didn't wait for the new AIMS level to form as it seemed obvious that entry would be determined by the M5 chart.
Result -7.6:
PaulF's Journal
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PaulF
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immy
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Re: BobbyF's Journal
Hi
The above trade is not too bad at all. However Rents like so can be avoided if you focus on the Fresh Break of AIMS Level (which you did) and time it with the Fresh Cross of Zero Line of AO. Since AO is our Wave Indicator as long as it remains red consider that you are in the same wave. and the older it gets, meaning counting from when it cross over and turned red, the more bars its got, before it crosses over again, the stale it is considered. So Fress Cross and Break of AIMS is the Jingle we often sing in our trading room!
The above trade is not too bad at all. However Rents like so can be avoided if you focus on the Fresh Break of AIMS Level (which you did) and time it with the Fresh Cross of Zero Line of AO. Since AO is our Wave Indicator as long as it remains red consider that you are in the same wave. and the older it gets, meaning counting from when it cross over and turned red, the more bars its got, before it crosses over again, the stale it is considered. So Fress Cross and Break of AIMS is the Jingle we often sing in our trading room!
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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PaulF
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Re: BobbyF's Journal
Many thanks for the helpful replies guys!
Today's first loser - out for -10.6. I waited for the AO to re-cross:
Entry: Exit: (I was late with the screenshot... exit was on the 12.59 candle, the one with the red dot).
Today's first loser - out for -10.6. I waited for the AO to re-cross:
Entry: Exit: (I was late with the screenshot... exit was on the 12.59 candle, the one with the red dot).
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immy
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Re: BobbyF's Journal
Hi Bobby! nice charts
Just a tip, you can always drag and drop the trades from your terminal and you will have those nice little arros and lines to show your trades on the scrreen. During trades your focus should be more on the trades so this picture taking activity can be left to later. Just a tip. IMHO
Kind Regars
I hope you got the rest of the moves as well. we had some very nice short trades after wards on EU
cheers
Just a tip, you can always drag and drop the trades from your terminal and you will have those nice little arros and lines to show your trades on the scrreen. During trades your focus should be more on the trades so this picture taking activity can be left to later. Just a tip. IMHO
Kind Regars
I hope you got the rest of the moves as well. we had some very nice short trades after wards on EU
cheers
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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PaulF
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Re: BobbyF's Journal
Hi Immy
In one of the replies on the PDF there you say "Ask yourself if you were trading m5 would you take a trade if no then why take it on m1 as well." How far does this extend? e.g. would you take a trade while price is inside the alligator's mouth on M5?
BobbyF
In one of the replies on the PDF there you say "Ask yourself if you were trading m5 would you take a trade if no then why take it on m1 as well." How far does this extend? e.g. would you take a trade while price is inside the alligator's mouth on M5?
BobbyF
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immy
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Re: BobbyF's Journal
Bobby!
You have to understand what the setup is first. When you see an m5 chart and Setup one occurred lets say 100 pips before. and now on m1 you see a setup, it is possible too late into trend. along those lines. So you know what the market has done, or rather the wave has done on the higher time frame. Think Wave within a Wave within a Wave
You have to understand what the setup is first. When you see an m5 chart and Setup one occurred lets say 100 pips before. and now on m1 you see a setup, it is possible too late into trend. along those lines. So you know what the market has done, or rather the wave has done on the higher time frame. Think Wave within a Wave within a Wave
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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PaulF
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Re: BobbyF's Journal
OK: trades for today. It goes without saying that I was out for a run this afternoon when the arse fell out of the Euro. X(
Total: -15.7.
Trade 1, outcome -5.8: Trade 2, outcome -8.9: Trade 3, outcome -4.9: Trade 4, outcome +3.9:
Total: -15.7.
Trade 1, outcome -5.8: Trade 2, outcome -8.9: Trade 3, outcome -4.9: Trade 4, outcome +3.9:
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PaulF
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Re: BobbyF's Journal
First trade of the day, outcome +1
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PaulF
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Re: BobbyF's Journal
Second trade today, +4.1
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PaulF
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First one today, +12:
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