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

[immy]

Immy: its so reliable when it comes to AIMS level that if it breaks a level by 1 pip (during retest) you can be sure it aint going anywhere. - Im dont know if im the only one :)but could someone put more light on it for me? as I dont think so i understand but I'd like to !:)

Check the retest candle, had to broke a point below the AIMS level, that it was retesting, the retest would have failed and it would a good reason for you to get out, allowing you to exit with as low as 3 points.

[Tomi]

How to Decide if a Pair is Worth Trading on M1.
...
Thats what we are after, Infact i need to code an indicator about it. so how about it Steve?

Indicator that makes a big solid box on top of chart if the pair is not tradeable. That would be the biggest account saver/preserver. When the pair starts to move, the box would disappear. I'm very serious with it. Rationally I know when not to trade, but still mind is making all the nasty tricks and still I get beaten up by low volatility chops. Every month less and less, but still that nasty feature of mind and itchy hands takes the control sometimes!

[Tomi]

Immy: its so reliable when it comes to AIMS level that if it breaks a level by 1 pip (during retest) you can be sure it aint going anywhere. - Im dont know if im the only one :)but could someone put more light on it for me? as I dont think so i understand but I'd like to !:)

Check the retest candle, had to broke a point below the AIMS level, that it was retesting, the retest would have failed and it would a good reason for you to get out, allowing you to exit with as low as 3 points.

You have said many times "famous AIMS level testing" etc similar stuff but I have never understood it completely. Also didn't know what to ask either.

I'll start taking note about this when trading!

As always, thanks Immy!

[Tomi]

Just opened dax, checked the candles and got these thoughts. Would you comment Immy? Trying to get this issue clear for me.

[immy]

Grant's trade management. its just a few lines mate.
At entry above/below Trig Candle
At +5 move SL to -4 (which ever is better, e.g. if trig is at -3 then leave it there)
then move to BE if you see price action Suggesting possible change of direction. e..g the fruit candle on this chart would tell me, its over bring to BE. When in Chop be Aggressive with your SL by keeping it tight, when in trending moving markets be aggressive with your stop loss by keeping it far away. (chaos is chaos)

i hope it makes sense.

Meanwhile here is hte summary of this beautiful morning. Traded alongside all my lovely AIMSter buddies.

[Darren]

Brilliant Immy - even in a small range chop you can make a profit!

[Tomi]

Makes lot of sense, sir. I'm having an aha moment like long time ago during DBC and PC discussions.

[immy]

A good Hard found trade. It required 3 hrs of work and one rent. +18 + 14 ( if you risk £1 per point you'd have made 32 pound. Which is still better than minmum wage rate. haha)

[Michal]

(wd) nicely done i do watch those kind of possibilittes also but still want to give it some time to train my eyes

[immy]

(wd) nicely done i do watch those kind of possibilittes also but still want to give it some time to train my eyes

This is certainly not my favourite setup. My favourite is the Famous setup, when m5 gator is freshly open, eWave just creating new bars past ZL, pullback, forms a setup on m1. I do take these reversals from time to time in the direction of momentum/volatility. I like the term acceleration as it comes ahead of momentum.

Note: I've changed my MM from 10 pips to 15 for DAX. It should allow me to let the market hang around upto 10 pips if need be. The above trade was a bit difficult for me to hold as normally i close it around 5-7 pips.

I hope it makes sense.

cheers