Skypers Den [chat summary - trade calls etc ]

[immy]

[edit: Aug 12, 2106. Moved Topic from Skyper's Stash to General forum for everyone to benefit. Thanks to Mickey @Kiravon]
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Hi

All skype members are invited to post anything they want relating to the chat, the day's summary comments, any, stuff in Skype Forum. It could be anything. Golden nuggets, bits of discussion you'd like to store for revisiting later etc. e.g. Mickey has come up with Extract of Kyle's 950 pages long document that he extracted from Skype.

Mickey will be publishing an ebook of the first month soon. Hopefully it will be posted here.

[kiravon]

Hi Guys

I think you will like this ebook!

Its the best of the best Skype chat, all chit chat omitted,
all cricket omitted all daily trade discussions omitted

What is left are the gems that are worth reviewing over and
over again.

Most of the content is from Immy, partly because he is AIMS
founder and the most authoriative, but mainly because he is
the most talkative

Actually there are quotes from other guys too, and no names are
ever mentioned deliberately, because some of our guys have
some remarkable insights of their own so you have to figure
out yourself if its Immy speaking or not.

If someone is really making the pips consistently and there is
a certain insight they have gleaned that is AIMS related
it is more than worthy of inclusion.

It actually took me a month to collate all the extracts from
February Skype

so I will probably never catch up - its like the conveyor belt
is moving too fast for me! but I will do my best

As regards Kyle's backlog of 950 pages!! - that would take me
a year! Actually I think Kyle said it was the last 6 months he
had a record of.

This ebook is just since I started in February

Hope you find the ebook useful in your trading

Mickey

AIMS SKYPE February 2015.pdf

[Tomi]

Cool Mickey and thanks for your effort. Thanks for those who provided the content also. It's a nice reading.

One question though. What a heck is CIPS? Central Intelligence Per Stupidity? What? ?

[Grant]

Tomi,

Think it's chaos influx point s........

May be wrong though....

Grant

[Tomi]

chaos influx point s...

and suddenly the whole world seemed to be crystal clear and all pieces were in correct places. Thanks for the info!

[immy]

PP asked a question and then disappeared... I however went on a rampage (of ideas)... thought I'll share it here.

what is your risk settings ?
[11:57:22] pankaj_pandekar: is it 0.25 or 0.5 ?
[11:57:45] pankaj_pandekar: 1% with 0.25 risk setting would be awesome
[11:58:13] pankaj_pandekar: be right back after tea
[11:58:32] AIMS Live Trading Room: I take 0.25 to 0.5% risk per entry. So my campaign risk is normally a total of 3% in worst case scenario. it hardly even happens though.
[11:59:13] AIMS Live Trading Room: I do a bit of "feeling great" increase lot size thing as well.
[11:59:24] AIMS Live Trading Room: I start from scrath every morning.
[11:59:31] AIMS Live Trading Room: as if I don't have anything. and its my first trade.
[12:01:03] AIMS Live Trading Room: if I star with losses i will lower lot sizes. and will be "risk averse". if I start with equity growth, i feel like I'm playing with house money. and might increase risk. so naturally i'm not risk averse. e.g. YD towards the end i was pretty euuphoric. i went in wiht 2% per position and it dropped like crazy. I have learned to TRUST MYSELF. its a hard job.
[12:01:14] AIMS Live Trading Room: hence the 13% growth YD.
[12:01:29] AIMS Live Trading Room: normally i'd achieve that sort of growht in the whole month or two.
[12:01:48] AIMS Live Trading Room: truly Trading is a Sport. the more cricket I play the better I get at trading.
[12:02:06] AIMS Live Trading Room: Football does not help me with this. Football does not allow you to think. IMHO>
[12:03:14] AIMS Live Trading Room: Baseball Cricket and Gold perfect partners of this IMHO> but I think martial arts , is even better. discipline.
[12:06:28] AIMS Live Trading Room: you can take breaks according to a set schedule. but if you have learnt when to trade and when to stop. then you can really live "chaotically". as in breaks would depends on when The Rest of hte market takes a break. i.e. markets stop Setting up. i.e. markets stop moving.
[12:07:08] AIMS Live Trading Room: there are different barriers a trader has to face.
[12:07:49] AIMS Live Trading Room: when you're down over all in your account. The marginal utility of a win or a series of wins as a result of disciplined trader is different to when the over all equity is showing a profit.
[12:08:12] AIMS Live Trading Room: likewise, when you're learning, you're cofused and fuzzy. some people don't even believe if they are doing the right thing.
[12:08:27] AIMS Live Trading Room: e.g. for a long time i thought i was doing something wrong trading the m1 char.t it was considered a sin.
[12:09:03] AIMS Live Trading Room: i was scolded and laughed at.
[12:09:17] AIMS Live Trading Room: some said, win quick lose quicker.
[12:09:33] AIMS Live Trading Room: others said, lose quick, lose quicker,
[12:09:49] AIMS Live Trading Room: then 2009 and 2010 happened. (rofl)
[12:10:07] AIMS Live Trading Room: nov 2009. 466% equity growth.
[12:10:21] AIMS Live Trading Room: btw: i'm not short. and this could be a mistake.
[12:10:57] AIMS Live Trading Room: when you set a daily target.. profit target, it can serve as a barrier. but if you don't set it, you might just stop well before you have hit your goal.
[12:11:07] AIMS Live Trading Room: so there is a plus and negative with everything.
[12:11:56] AIMS Live Trading Room: e..g when i closed those short trades i did not take the long .because i was well above my daily/weekly target. this has effects on your mind. Trading is really a game of the mind. we don't know until we read on to this, over and over and finally it clicks.

[Hill]

just wanted to log this interesting and very useful conversation from the chat room.
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[3:44:44 AM] Niki Korn: can this peak of AO counted as new one?
[3:45:59 AM] Niki Korn: or we are waiting for AO to change colour?
[3:47:16 AM] Grant Hardiman: N, answer me these Qs...
[3:47:24 AM] Grant Hardiman: is there a 1-5 and is TZ1 hit
[3:47:25 AM] Grant Hardiman: ?
[3:47:50 AM] Niki Korn: no
[3:48:31 AM] Niki Korn: this is the continuation of w3
[3:49:06 AM] Grant Hardiman: ok what wave sequence makes up a wvae 3
[3:49:08 AM] Grant Hardiman: ?
[3:49:08 AM] Niki Korn: but we see a new clear peak. AO almost changed its colour
[3:50:30 AM] Grant Hardiman: if i have a wave 3 say on m15... if idrop down to m5 waht do i see?
[3:50:41 AM] Niki Korn: 5 waves down
[3:51:00 AM] Grant Hardiman: ok, now if i have a wave 3 on m5 waht do i see on m1?
[3:51:36 AM] Niki Korn: on m1 we see 1-5
[3:51:58 AM] Grant Hardiman: ok.... now looking at m12 now what do you see?
[3:52:14 AM] Grant Hardiman: thats the 12 secs chart
[3:52:37 AM] Grant Hardiman: so 1 lower than m1
[3:52:41 AM] Grant Hardiman: what do w e see
[3:52:45 AM] Grant Hardiman: ?
[3:53:06 AM] Niki Korn: if look lower that m1 - we will see 1-5
[3:53:49 AM] Grant Hardiman: ok so if we see a completed 1-5 on 12 sec chart can we "assume" that the wave 3 on m1 has hit TZ1?
[3:54:03 AM] Niki Korn: yes
[3:54:15 AM] Niki Korn: so we should have filtered all signals
[3:54:31 AM] Grant Hardiman: ok so without a cross of 0line we can assume that there is not much fiurther to go to the down side at this mkoment... agreed?
[3:54:44 AM] Niki Korn: absolutely
[3:55:02 AM] Grant Hardiman: you have in a very long winded way answered your own questiuon... well done
[3:55:17 AM] Niki Korn: thank you for that, G
[3:55:30 AM] Grant Hardiman: no worries... (bow)
[3:55:55 AM] Grant Hardiman: nowt H1
[3:56:11 AM] Niki Korn: now it is much clearer fro me. Unfortunately i had to pay for it. And i think it worth it
[3:56:26 AM] hthang140873: How can you see 12 second chart?
[3:56:47 AM] Grant Hardiman: only in your mind thang...
[3:57:24 AM] Immy: Grant that is the way to teach a man how to fish! (meanwhile MZ threw some cooked Sea Bass in his flow)but you still taught him how to fish nicely)
[3:57:28 AM] hthang140873: Thanks Grant
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[KasperMXCALI]

Great book very straightfoward..

Thank you Mickey.