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

[Edie]

Dear Brother TOMI,

So many2 thanks for your time to read & reply my questions.. yes, i entered live trading too fast while ihave not finished my study with AIMS eBook...what a rushy stubborn me. I used 1lot few times to cover my losers but ended in losing 10% of my capital...then i quickly awoke again and continue with 0.1lot with caution...today's EUR/USD has been not so active... oh my, not so easy trading forex without good knowledge of AIMS usage...need to keep lesrning & learning before i get too old . Thankx a lot again, Tomi. GOD Bless U & family always

[immy]

Looks like EUR/USD may be back... We'll monitor it over the coming days and weeks and if it continues to trade with more than 80 plus ADR then those who don't have access to Dax can re-start trading EUR/USD m5/M1.

wooohooo

[immy]

A Quote


"Your path, created, maintained, and traveled by yourself, wil
be that path less traveled, for it will be yours and yours alone; no
one else will be able to follow it, just as you will be unable
tc

Follow anyone else's path successfdly. You do not share their
vision, their sensitivities, or their cares, and they do not share
yours. In trading, there is no holy grail other than the one you
fashion for yourself."

John Bollinger

[immy]

Week Ending 1st Sep - 5th Sep 2014

Strategy outcome using Flow Chart and This Trade Management
Initial SL = 10
Trig = Move to -7
At +5 = Move to -4

Exit at
1. SL Hit
2. Trailing after consecutive red/green candles
3. Close on green i.e. Black Dot
4. Aims trail.

Trade Times: London Open to Close at 4:30 Uk or 5:30 CET

07-09-2014 10-25-45.png

07-09-2014 11-53-13.png

You can use this template for back testing. on Dax m1. and use the attached excel sheet. its simple not fancy.

[Darren]

Thanks for the effort put into this Immy - I shall go through every trade later

[immy]

Nothing happened on the dax today. well i did take a couple of trades a 4 pipper and breakeven and thats it. No move no trades all good.

Meanwhile took a Gold trade, talked about it in the chatroom a bit too but chatroom is for Dax m5/m1.

[immy]

The strategy is so simple. You just gotta follow it. Red dot, check the rules put the po and then Trade management rules take over. Don't try to guess the market direction, don't use the cracked crystal ball. Just go with the setup.

We talked about this USD/CAD trade this am. It was a setup. It said go long. I said ok.

08-09-2014 18-32-56.png

The trade finally got into good money/profit.

Same for UJ long and Swissy long. Should have trusted EU as well and went short. but its ok.

08-09-2014 18-29-11.png

UJ USD/JPY trade was taken last night after the market openned. I just had to go long.

[exponent83]

Your exit strategy at the Dax trades was a bit different. Grant's exit is with 13 SL at the beginning. And the next step is +-3 pips above below the trigger candle. Your is 7 pip.
Which Trade Management is better? Thanks for the answer in advance.

[immy]

same stuff. not much difference in the long run.

[immy]

We all know here that we thrive on volatility when we trade m1/m5 time frames. There is something I'd like to put emphasis on. Based on our belief about the fractal geometry of the market and the universe as a whole we understand that trading any chart of any finanical instrument creates the same patterns over and over and they can be traded in the same manner on all time frames. But there is one thing we all ought to know about trading m1. When the volatility goes below a certain level the charts become untradeable. Thats the bad thing about m1. The rest of the day when the market is trading within normal volatility m1 really is a microcosm of the macro environment. S1 again and again and again. It really is our chance to speed up our lives and live a few days within a singal day of trading. So when you find out that market is not moving and stuck within a choppy tight range of lets say less than 30-40 pips its time you take a break and wait for the markets to start moving again. Yes, you might miss a breakout but it will keep you on the safe side. Even though if you keep trading only the setups and remain conservative within chop and aggressive within trends you will still be looking at growing your account really nicely. Its best to trade as less as possible and stick to what Moty calls Crème de la crème setups.


just my thoughts... all the best