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

[immy]

Check todays trades in the post above July 23 2014.

please find below trades we took yesterday. it was also a hard working day but very fruitful.

[immy]

Focus is everything. If order to win consistently we need a few things on our side but being Focused is one of the most important ones. Again, if you're not good at understanding your mind and how to utilise it, you may find it very hard to remained focused.

But focus is everything.

When Bill Gates first met Warren Buffett, their host at dinner, Gates’ mother, asked everyone around the table to identify what they believed was the single most important factor in their success through life. Gates and Buffett gave the same one-word answer: “Focus.” (See more in The Snowball by Alice Schroeder).

And we must do everything in our powers to learn to be focused in anything that we do in life. More on this here.http://www.itradeaims.net/forum/viewtop ... 978#p16978

[immy]

Well done Peter, Kyle, Darren. All my buddies got some pips today. (ray too haha) I hope more guys join us in the chatroom so we can bring them to the path of success.

[exponent83]

Thanks Immy for this strategy:) I am all day a happy Guy:)

[immy]

Thanks peter,,, its been fun trading with you. Don't go anywhere, lets trade the shit out of it.... same thing over and over and over again.... lets do it... come on guys... attend the chatroom...

[immy]

Interesting session. I looked at M5 chart this am and thought a wave 3 down, a flattish wave 3 down, could have a wave 5 down. Something did indeed happen at open time but it was not tradeable. price broke up down and up again. typically this means Wave4. at the end of the session this morning we can now see a completed 5th wave with its TZ2 being hit. This could lead me to believe that this could be some sort of ABC on higher time frame but don't care about that.

what happened within this wave 5 down , which we monitored on m1 was more interesting and we did it step by step , candle by candle. We PREDICTED wave 5 an hour before wave 3 ended. Our LEADING indicator eWave, helped us PREDICT not only wave 5 but the underlying structure of Wave 4, which is abc, was also visible and we saw and traded it and enjoyed it. In the end the day is looking really good with over 30 points profit.

Chat session for today to check against your chart and learn....

25 July 2014 Chat Morning Session.txt

[Nikita]

Immy, does it make sense to scan more than 5 pairs looking for H4 open gator and then go down to H1 and wait for setup?
I m talking about 10-20 pairs and commodities. Doing that way could provide us with almost perfect setups. But of course it's not possible to control so many pairs. It means that we will trade the pair that offers the best conditions. Skipping some setups on other pairs.
Or doing so we will lose our edge?

[immy]

Immy, does it make sense to scan more than 5 pairs looking for H4 open gator and then go down to H1 and wait for setup?
I m talking about 10-20 pairs and commodities. Doing that way could provide us with almost perfect setups. But of course it's not possible to control so many pairs. It means that we will trade the pair that offers the best conditions. Skipping some setups on other pairs.
Or doing so we will lose our edge?

This is THE ONLY WAY we trade THE SETUP. This concept that you just point towards, this is THE SETUP. This is the concept, the essence of AIMS. Congratulations. We look for Confirmed trend on a 5x higher time frame and then we go to 5x lower time frame and trade a Breakout an S1 setup. This is what we call Higher Probability Setups because HPS are breakouts in the direction of higher timer frame trends. all the best matey


ps: keep in mind
1. Keep it Simple
2. Less is more

[immy]

Some Analysis on the Dax...

30-07-2014 12-42-03.png

The Stepping down pattern marked with yellow line... shows the pulling back abc correction action.

watch the little leverage in the next picture.... below.
the aims level low market with arrow is important here.

[immy]

Thinks sort of changed after ADP news... I went for c down and immediately traded long, using the news strategy (not recommended to beginners AT ALL) later after the GDP news and US Equities open, we saw a bit of different action. Caught a good 40 ipper there.