Bambino's New Journal

[bambino45]

Hi all,
I have decided to start a journal to share my AIMS expereinces with you all.
I am not new to AIMS but new to journals on the forum so I hope you enjoy the journey. I do not trade every day but when I have a comfortable couple of hours around a major open. It is not rushed or stressed.

I will post as much as I can on here and provide a narrative.

Here is this morning's trade on cable.

2013-04-04_0919.png

I entered a sell stop order just after 8am at 1.50756 which was a close alignment on M1 and M5 AIMS levels. All charts/indy's are looking at a sell so that is what I am waiting for. Quickly in I use the blue line as my guide as price has generally been held by it for the last hour or so. I trade what I see ! I am quickly at BE and ignore the black diamonds and use that nice blue line guiding me down. This keeps me in for just over an hour .. a nice genle ride downwards. As AO grows deeper I am bringing my stop loss down with blue line and ultimately out for 25 pips stop loss triggerred at 1.50500. Price shot up just after.

A good start and 2.5% added to the bank

I just wanted to add one thing. Everyone needs to behold the power of compounding ! It is something that a knowledge of combined with AIMS will help realise your dreams.

This is hypothetical but demonstrates the power ... !!! Let's make an assumption .... If you start with a bank of £1000 and you make 1% per day. You trade 250 days a year. After 4 years you will have done 1,000 days of trading. If you compound your stakes incrementally in line with 1% account growth per day this £1,000 will be slightly bigger.

Behold !!

Compound Interest Calculator.xlsx

We know it is not realistic to make 1% a day every day but this is just to demonstrate the power.

Patience, discipline, targets. Even if this took you twenty years not 4 I am guessing most would be happy !
:-bd

[immy]

Hi

I am delighted to know that you have decided to keep a journal. We will all be watching and learning with intent. thanks and good luck! May the pips be with you!

[Darren]

Great to see another journal .

I take it that is the 1 min chart you are showing and if so is it possible to show the entry and exit of the trade on the chart as the prices aren't showing?

Cheers,

Darren

[bambino45]

Great to see another journal .

I take it that is the 1 min chart you are showing and if so is it possible to show the entry and exit of the trade on the chart as the prices aren't showing?

Cheers,

Darren

Hi Darren,
Yes it was a quick screen shot. It is indeed an M1 trade with M5 as purple line. The trade entry (1.50756) and stop (1.50500) can be seen in the Account window at the bottom of the page but I know thay are not visible on the chart.

I will try and make it a little clearer next time. Entry was at break of AIMS in top left corner following the pink dot and stop took out the trade on cross of blue line at the very far right candle in the picture.

I hope that helps.

[Darren]

That does help - thanks very much! :-bd

[bambino45]

Hi All,
I haven't disappeared, just not had the chance to trade with a holiday and other commitments. However have sat through the European openings this mornings and no concrete setups for me today so no trade. I am quite comfortable taking no trades if there are none to take ! It is disciplined !

[bambino45]

For lots of reasons .. none of them valid ... I didn't keep up with this journal. However I am very aware of the value it holds for me and others in this community so I intend to make the time to do so as I pick up my AIMS trading again after a trading break.

One piece of advice I would give is to take a break every now and again. A proper break, I mean weeks if not months. Reset the sub conscious. Trading and especially day trading is a very intense activity and is stressful. If you are not fit and healthy in body and mind it WILL affect your decision making. Coming back to it refreshed will see an improvement in you.

Himalayan retreats are quite popular I hear.

:-bd

[wiseambitions]

I believe in breaks too and am glad the markets in some part obey God's wishes every week so that we get a rest at the weekends

[bambino45]

Yes, it is all too easy to get roped in. I once ran a professional trade copier service and we traded up to 16 hours a day if you include all the analysis. There were two of us sharing the load but even so !! Did we make pips, yes ! Did I create a job for myself that was twice the length of my old working day ? Yes.

Was I happy ? No.

Now I don't make more pips trading 2 hours a day ? But trading anymore burns you out. I have to keep fit, see my friends and family make sure I eat right .. all that stuff.

Everyone finds the right balance in the end. It's not all about mega pips. Immy has a footnote about making your money work harder for you, not the other way round. Wise words !

Cheers

[bambino45]

First foray back into AIMS trading for me in a long while last night. Trading the US session on cable.
Seemed like I hadn't been away. After a week or so topping up on the essential reading mainly on the mind and psychology of trading the system was easy to follow again.

I have attached a screen shot. It was stress free and a very easy trade to follow. AIMS broke to the upside and pushed up fairly quickly and exit was pre-established as candle close through green line.

Cheers