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

[Nikita]

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I think you should say a word about your exit strategy. For new members(like me) it is super crucial question.
Thank you for your work!

[immy]

mother-of-god.jpg

I think you should say a word about your exit strategy. For new members(like me) it is super crucial question.
Thank you for your work!

Nikita...

Thank you for your comment and questin. I think you may have not followed this post from the start. thats no problem. Read this post, the trade management plan is discussed here. Its the same as our usual trade management plan, Grants TM. http://www.itradeaims.net/forum/viewtop ... 180#p17537 let me know what you think ...

Exit strategy is important and its not a separate thing from entry strategy hence I've always discussed it.

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

[Nikita]

I m sorry, i missed that post. All info necessary for trading presents!

Btw, about AIMS stats.

I ve been trading H1/D1 for the whole month.
Total trades: 13
Winners: 7
Losers: 6

Month result: 11%

BUT, unlike Immys DAX month, my month was not fully disciplined (H1 TF is a new for me), i missed a lot (really A LOT) of super opportunities, i spoiled some nice winners.
In the end, last two weeks i spent on working at my mistakes. As a result loss of "-4%" transformed into nice profit.

[immy]

Hey Nikita..

Good to hear about 11% month. It has bee a super month on the h1's and honestly it was hard to lose money on h1 this month. EU GU AU GOld everything was trending. well done... and may such months continue for you and all of us.

[Nikita]

Immy, look at EU (Jan 2014).
This is how D1 looked like that time. We see no clear trend. How should we trade h1 in such conditions? I dont have experience in trading within such periouds, so could you share your wisdom?
I would appriciate any advices.
Thank you in advance.

eu.png

[immy]

Keep it simple and trade just they way you would trade on a normal day. if you think Daily is in correction or sideways range trade accordingly and keep your SL tight when they are trending just get in and find a way to stay in as long as possible.

[Nikita]

I m now trading in the direction of 120 SMA no shift. But within flat - it is kind of difficult.
So, you suggest just trade the setup in the direction of sideway move?

[Dave]

We don't trade sideways markets, Nikita. We never have and never will. We let the higher time frame show a clear trend (open alligator, rising eWave), and when price pulls back we drop time frames to look for S1 and S2. This has been the same for years now and it won't change.
S1 and S2 trades offer a small risk for an entry in line with the higher timeframe trend. If there's no higher timeframe trend, then there's no pullback and no high probability entry.
Good luck mate. Keep at it. Persist. But as Immy says.... don't let our monkey brains get in the way!
(Ps not to be confused with the latest fruit entry techniques - although the 'Adams Apple Fruit' is still a pullback within a higher timeframe trend!!!!)

[Nikita]

Thank you for you 5 cent, Dave. It s very useful. But According to D1 - we could see no trend for the whole month. Does it mean we have to stop trading S1? Or there is some approach that could help?

About Fruit technique.. I m sure if i m ready for this. But may be it is a way..

[immy]

Why are you not ready? Do you have to fit a new brain?