Michael's (zlabis) Journal [The Magician]

[immy]

Michael , don't listen to Michal... He's just projecting himself on you! he's not high intensity , thats just how he is... Michal... go do your m15 you're doing fine... haha

[zlabis]

Thank you Immy and Michal for your comments.

I have to admit that I can handle M1 trading concentrated for only max 1 hour and nothing else than DAX. I don't even have another market on my profile. Then I need a break of 5 or 10 minutes. After 2 hours I'm rather exhausted and need to quit the session.

My decission to this time frame came since my available day time is rather fragmented and never longer than 2 hours in a row. Most of the times much less. In my testing period I tried 5 and 15 Min TFs as well but I often ran into situations where I had to leave or quit just before the entry or the exit would have been triggered. So I didn't come into trades at all or had to exit manually far too early although there were good signals.

For M1 I had/have to increase my "technical" abilities as well. Being quick with the mouse, placing POs, moving SL&TP and closing trades only with right mouse button increased speed a lot. Entering trades like that is, of course, only possible with fix lot sizes.

When I start trading live in January, I will start with lot sizes that doesn't bother me at all to gain confidance and feeling for real money )

Again, I have to say thank you Immy and to all other people in the group who gave me great support to reach the point where I am feeling, at least a little bit, prepared for going live.

Cheers Michael

[zlabis]

Fri. Dec. 12, 2014

Screen time LO-session 9:00 - 10:00 am (GMT+1) M1/M5 DAX only

Details on trades see below on the pic.

Today's result:
- 17 + 53 + 10 = + 45 Pips

---------------------------------------------------------------------

Result of week 08.12.-12.12.2014:
Mon. ... 8.12. +/-0 Pips no trading - Austrian bank holiday
Tue. ... 9.12. + 86 Pips
Wed. . 10.12. +/-0 Pips no trading - had viewing appointments
Thu. .. 11.12. + 74 Pips
Fri . ... 12.12. + 45 Pips
----------------------
Result ........ + 205 Pips

[Michal]

no more comments (rofl) ... only emotikons :-bd

[zlabis]

Mon. Dec. 15, 2014

Screen time NY-session 15:30 - 16:45 am (GMT+1) M1/M5 DAX only

When I jumped into the NY-session there was already very good movement. 2 or 3 minutes after I came in, DAX started to drop rapidly but unfortunatly there wasn't a good signal at the beginning of that down move.

Didn't get in at the first stage of the move because I wanted to wait for a signal near the bottom of the previouse wide down-range. As there appeared a nice up fruit at that trend line, I opened my campaign for today. There followed a mix of fruits, SARs and classic setups which brought me into profit nicely.

I finished trading for today after one hour. Therefore I didn't catch the final huge push down. At the beginning I felt a little bit frustrated not being in but at the end it's very often much better to quit as planned.

Today's result:
- 10 (of course ;-) ) + 2 + 29 + 2 + 30 = + 53 Pips with usual average initial risk of 15 Pips.

[immy]

53... thats 153 more than most traders for a week! enjoy

[zlabis]

Tue. Dec. 16, 2014

Screen time LO-session 9:00 - 10:30 am (GMT+1) M1/M5 DAX only.

Today was a massive news day therefore volatility was very high since the beginning. There was very strong movement as well.

I was able to catch some portions of the down- and the following up-movement although I missed this lovely fruit at 9:56 before the next huge up-move which took place at the trend line and the 50% fibo retr level of the clear D1 trend. Needed a break so I missed the next break-out as well. I took the third break-out which appeared at a nice trend line and added on at break of a strong resistance area. Since the wave was rather matured, I decided to place fixed TP right below next strong resistance level, which was actually M15-AIMS.

There's one thing that makes me a little bit thoughtful. If I watch the M5 chart of the same period (today 9-11am) there are 2 signals that would have paid 280 Pips without any doubt where to get in and out.


Anyway the results of today are great:

+ 13 - 9 - 15 + 65 + 60 = + 114 Pips

[immy]

Tue. Dec. 16, 2014

Screen time LO-session 9:00 - 10:30 am (GMT+1) M1/M5 DAX only.

Today was a massive news day therefore volatility was very high since the beginning. There was very strong movement as well.

I was able to catch some portions of the down- and the following up-movement although I missed this lovely fruit at 9:56 before the next huge up-move which took place at the trend line and the 50% fibo retr level of the clear D1 trend. Needed a break so I missed the next break-out as well. I took the third break-out which appeared at a nice trend line and added on at break of a strong resistance area. Since the wave was rather matured, I decided to place fixed TP right below next strong resistance level, which was actually M15-AIMS.

There's one thing that makes me a little bit thoughtful. If I watch the M5 chart of the same period (today 9-11am) there are 2 signals that would have paid 280 Pips without any doubt where to get in and out.


Anyway the results of today are great:

+ 13 - 9 - 15 + 65 + 60 = + 114 Pips

First of all .. Amazing Results Great Trading ... WELL DONE... You are truly inspiring everyone. I would love to see these resutls translate into some huge account growth starting January when you will shift to Live Trading.

Secondly, you mentioned about M5, yes great. You would have made 500 pips on m5. but Your average loss would be 30-60 pips depending on how many positions. on m1 it will stay between 10-25 pips on two positions. Moreover there are days on m5, when you will have a losing day or two in a week but one massive day like this will just take care of the whole month.

Thirdly, you forgot to show that the 9.56 that you missed (well not entirely as you still snatched 60 out of it) could have brought you 220 pips had you exited on green line with just one initial Fruti entry and 2nd aims break entry.

Amazing Stuff.... (where is MOTY)?

[zlabis]

First of all .. Amazing Results Great Trading ... WELL DONE... You are truly inspiring everyone. I would love to see these resutls translate into some huge account growth starting January when you will shift to Live Trading.

Secondly, you mentioned about M5, yes great. You would have made 500 pips on m5. but Your average loss would be 30-60 pips depending on how many positions. on m1 it will stay between 10-25 pips on two positions. Moreover there are days on m5, when you will have a losing day or two in a week but one massive day like this will just take care of the whole month.

Thirdly, you forgot to show that the 9.56 that you missed (well not entirely as you still snatched 60 out of it) could have brought you 220 pips had you exited on green line with just one initial Fruti entry and 2nd aims break entry.

Amazing Stuff.... (where is MOTY)?

thanks Immy, it makes me a little bit proud to hear this from you but I have to say without your and the AIMSter's support I would definitly not have managed to get the basic idea of AIMS principles. It's your relentless effort and commitment that brings new and unexperienced traders like me into the situation where we can give live trading a try after some period of demo-trading and intensive learning. I can't wait to start trading live in January although I know it will be a challange for the mind and the emotions to move real money instead of demo-money. I try to get used to it while risking only small amounts of real money at the beginning, like 0.2% per trade with average SL of 15 Pips.

This M5 thing is probably not that important at the moment. As my experience is going to increase, I will maybe know when to switch from M1 to M5 and vice versa. And 30-60 Pips SL is too big for me as well as I currently have an average daily profit of 45 Pips with 15 Pips SL on M1. For risking 45 Pips in average on M5 I would need 135 Pips daily in comparison to that. So I'll stick to M1 at the moment, it's perfectly fine.

Regarding to your "thirdly" I have to admit that sometimes my brain is blocked after a campaign in one direction to catch even strong signals in the opposite direction. That happens to me quite regularly once or twice a day. And this fruit-setup at 9:56 was an extraordinary good one, as I noted in my journal-entry.

It's such big fun trading with you guys. I can't wait every day that the 8:45 alarm on my mobile rings to prepare for trading. Then I power on my PC and my laptop, start up chatzy and skype, read the calendar on forexfactory.com and prepare my M1 and M5 chart with the (for me) most important trend-lines and levels. Before I start trading at 9:00 I make a cup of tea. It starts to get some sort of ritual. If there are viewing appointments during the London session, I try to catch an hour or two at the NY-session.

So enough from me ;-)

Cheers,
Michael

[zlabis]

Wed. Dec. 17, 2014

Screen time LO-session 9:00 - 11:30 am (GMT+1) M1/M5 DAX only.

Today, after LO, volatility was very high again. And again, it ranges in a wide area of 50-60 Pips. At the beginning there were no good setups. As I realized that it's in that big range, I took one break-out trade while there was still enough space to the next resitance level. Entry was ok but exit was stupid as there was a perfect SAR spot at the fruit directly at this resistance level. Silly me.

Then there was a good fruit setup (trade 2) which turned out to be SAR into trade 3. Here a mistake at exiting again - I closed manually because I was afraid of losing more than necessary, instead of following the rules (here exit at green gator) would have kept me in the trade. Later in the chat, Immy recommended to trail candles in choppy conditions like that. This would have helped here as well.

After that, I think, I started to get a feeling for the movement, the price action and the setups for the rest of the session. The next 3 trades (7 [i forgot it at first, so it has higher number than last trade #6 of the day], 4 and 5), I felt, were rather easy to handle with trailing candles ( ;-), Immy) or SAR at fruits at certain levels. The last trade of today (trade 6) I liked very much. A small fruit (only 10 Pips risk) at purple and near lower trend line of the clear up range channel. Later it formed that lovely and, IMHO, often repeating "W" pattern. Add on at break of M1 AIMS level. Exit at predefined TP right at the top of the last two M1/M5 peaks.

I know that working with support and resistance levels and trendlines of current and higher TFs are not part of the princiles and techniques which are taught here. I really admire everybody who is capable of trading the clean chart with only fruit, gator and AO on it. For now I personally use this "support-system" to feel comfortable at orientating myself in the charts. As my experience gains with the time I probably can leave these crutches away.

Today's result:
+ 1 - 30 + 15 + 14 + 51 + 23 = + 74 Pips outof a choppy market FRUIT RULES