Mickey's Journal

[wiseambitions]

Responding to your post of 12:52
The comparison with other systems is very interesting. The one I might add to those others is Rebellion (Russ Horn), but all the marketing that went with it failed to follow through properly how the system works (He talked about swing lows and swing highs instead of fractals), he used Donchians (the highest or lowest point in the previous n periods) instead of aims levels, used QQE rather than AO and EMA crosses rather than dot alerts for crosses of the alligator lips.
So that brings me to the observations that
1) The aims system with the community sharing ideas in the forum enables better application of the principles behind the system than any other system I know
2) The aims system teaches you how the market works. Support and resistance and breaking out of it. Elliott Waves. Fibonacci (for the possible extent of price moves).
3) The principles are timeless. Nobody can say that the system no longer works like it used to (as often happens with robots), the only possible excuse might be that a particular pair fails to any more offer the volatility which we need to see in order to catch a few useful moves.

I will think about the triangles!

[kiravon]

You make some great points there Ray and not for
posterity, there is around 200 views a month currently
to our posts - hopefully most are unique viewers

Regarding Triangles I've had no success with them at all
on lower time frames but on H4, especially when confluent
with a break of AIMS they are very powerful!

yes Iv'e acquired, dissected, deleted, re acquired, re deleted
most of Russ Horn's stuff and I think I only cannibalized QQE ADV
from Rebellion - you could devise 100 strategies around that
indicator alone! extremely underrated!

I resent my message. I think it failed before due to it's
length - I think the rescinding of my awarded title,
whilst very welcome was too kind - I possibly write
more in one post than most members do in a lifetime!

The aim is to keep paragraphs very short and easy on the eye,
and keep note of any new insights and profitable tips for
myself first and hopefully try to be thought provoking to
others

and if occasionally I seem to wander off the AIMS track
that isn't terrible because it doesn't mean I'm right, and
other members might be prompted to evaluate why
they prefer the more orthodox AIMS rather than just
follow like sheep

and if they are truly trader material they might do a lot
of testing and may indeed conclude that basic AIMS is best
for them but there are indeed some occasions when
possibly calling up another indicator for confluence might
really pay! - yet still remaining under the AIMS methodology
umbrella

For me I find the converse, Ewaves continues to not be my
favoured indicator but I will call it up on occasion to plot
TZ1 and that can be extremely helpful.

I don't always use Alligator but I have often had it on the screen
with red, green, blue switched off and only Purple discreetly
displayed - Purple can indeed keep you out of a lot of potentially
dodgy trades.

There is by the way a recent excellent post regarding Elliott Waves for
confidence which is a must read even if Elliott Waves don't give
you confidence because the post isn't really about Elliott Waves. Its really
about how understanding and recognizing the structure of the market
gives you the ability to trade far more confidently and profitably.

I could completely relate to that, thinking of those times of market
mayhem when madness ruled supreme, it has destroyed many a trader.
You need to trust there will be light at the end of the tunnel, or a Wave 5
that will appear, if not unfailingly then at least regularly enough to give
you the emotional strength needed to see you through

[kiravon]

Off to a good start to the week

Firstly I'm beginning to see why August might be somewhat
slow moving

Not too much news this week GBPAUD and USDNZD but not a
lot else so they might be the pairs to look at most.

But my trade below was IB to pivot and a few points on that

As you can see I have considerately indicated to the market
precisely where I want price to go

It may or may not hit but more importantly I have 100%
clarity of vision! and this is not important it is absolutely
essential!

Here is my rationale ( or irrationale as the case may be )

Higher highs and higher lows price looks like its moving up now

After a range of 16 bars price breaks AIMS and forms two IBs

There is a monthly pivot within striking distance so I am targeting that
for 113 pips

Question: Why didn't I enter at the first IB
Answer: I would have done but price had passed that when I opened the chart.

but on the plus side, two IBs are better than one

8 aug.JPG

[kiravon]

I am trading my main AIMS (Divergence pivot ) system on micro account
only this month but from September the setup below works out around
80% of the time when only targeting 50 pips - no exaggeration

Nice one today on AUDCAD H1

When you set your sights higher you do pick up a few more rents

speaking of 'rents' I read a post written today in a journal of a member
who gave up his journal and maybe trading last May

He started quite diligently but after each 'loss' he conducted what he
referred to as a 'post mortem'

reminds me of Shakespeare's Twelfth Night 'And I would die a thousand deaths'

a 'rent' every day is a minor business expense but how many 'post mortems'
do you really want to carry out?

'trade synopsis' might have somewhat less negative implications

subtle distinctions like this can really make a difference!

AUDCAD.JPG

[kiravon]

Update:

my divergent system trade above looks curiously promising.
after divergence it made off in the completely wrong direction
which is quite normal

but then happily it formed a very nice Fruit and now looks set
to make it's descent -I hope

My blue and pink bubble IB DB pivot system is doing well, and midway
to hitting target

Meantime I've launched into some M5 trading despite being somewhat
out of form.

A you can see the first trade was a rent flying straight into Purple!
I didn't have Purple displayed when I entered - Purple is far more
important on the lower timeframes - truth is I forgot about it

but then with SP MM I recouped that easily on a very nice trade

and now I have re entered and I'll explain why. I don't necessarily
think I'll win and its not the best time of day to trade, but a number of
things impressed me.

Firstly, after my winning trade it retraced up to TZ1 and kept retesting
it - six times in all!

Seems like it didn't really want to break through up again

Then it broke down through Gator and then retested and bounced off Green
forming a DB then an IB followed by the telltale bearish momentum bar, so
I placed PO under AIMS and prior AIMS. PO has now been triggered

The indications are it might follow Green down for a while but in any event
I am confident I took a very well reasoned trade and worst case scenario
my MM should recoup any minor losses

But if you're looking in Ray, check out the Step Up sequence in the trade
Terminal box

Back in the day the rule was to increase stake one point after every loser
I loved the plan so much I started increasing stake after every winner too!

I think that probably is plain gambling but you do accumulate very quickly
that way!

step.JPG

[kiravon]

well that panned out really well

$200 rent
$1,850 profit

The secret is in the money management

On the last trade after TZ1 relocated I simply
placed TP just above that. It did overshoot a bit
but it was the obvious exit

Now its all coming back to me - when I made
some nice profit like that I would return to 1 point
staking and repeat the process.

I think Stepper only really works on the lower timeframes.
I don't have a lot of time now but I'd like to return to
M5 intraday trading during the Winter months

step2.JPG

[wiseambitions]

Yes I did see your MM - personally my best experience is to avoid the reckless side of martingale trading, ("double or quits!?") which I think applies better to a binary system of trading, but to consider stepping up the risk slightly, in small increments, not as retaliation though, after losses but then to reduce to a smaller risk after making profit or recovering the drawdown and definitely going back to a small risk if carrying on trading after the day's target has been comfortably achieved. It works with Dax because the 50 75 or 100 pip winner comes along sooner or later but I don't think it works so well with currencies or with FTSE100 due to less catchable volatility. This is all quite advanced stuff, not for the faint hearted nor rookie trader, which could get one into trouble if not carefully managed, but if someone wants to discuss with me I have results to back it up.

[kiravon]

Yes the Martingale works brilliantly most of the time -
on those rare occasions that it fails you may need
to risk millions to recoup - not a great idea.

Ray's success on the M1 time frames is outstanding
but it comes at a price and not all that glistens is gold,
you said it well - not for the fainthearted

I'm aware of your results and I have worked out
you are making in excess of 120%+ per month

That's a lot more than most scam Ponzi's offer!

It's certainly an inspiration but anyone who contacts
you should probably understand something first:-

One of the most respected members on this site
has devised a very robust and reliable system. He
is also one of the most cautious traders and minimizes
risk all the time. He has a few winners and only
a few minor rents

A high percentage of his trades break even so with so few
manageable rents his system is quite stress free - in the
spirit of the original AIMS marketing

His cautious approach makes him a small percentage
return most months, sometimes as 'little' as 3%

3% per month is not little! 41% pa! and he actually does
better than that - stress free! and it is very easy for
just about anyone to do this. it's doable

Ray's strategy of course makes that in around 10 days.

However everything comes with a price and most of his
trades lose - ( most pro's lose more than they win ) but
as he says the big winners eventually come and with very
skillful MM you are making a phenomenal profit

it is not stress free - quite the contrary

Nothing comes easy.

What we all want, everyone of us is the first system
with just a few small rents but we would also like
your 120% per month profit!

and here is the truth, you really can have either but
you cannot possibly have both!

Less risk, less stress = less profit

High risk, high stress = phenomenal profit

But there is a way round this dilemma -

I'm considering it myself

Start with 100 quid micro account and make sure spreads
are tight - although I don't know any true broker who
offers micro accounts with tight spreads on Dax - spreadbetting
maybe?

Start with the most minute risk - pennies even and watch your account
grow exponentially! With these potential returns you don't need a big
account - it will soon grow

what you do need is to be relaxed in your trading. Ray is very generous
to share his trading wisdom but it certainly isn't a get rich quick scheme!
and if all this is getting your greed glands going you are dead in the water
before you even start

I'm staring at my screen now and having one of those aha moments!

I was playing around earlier with auto fib trade zones planning to cash
in on the M5 as it 'falls out of the sky'

In the end I was lucky to break even

But I just looked at the same chart on another screen

A very different picture emerges!

I was once again so fixated on where I was certain price was going
that I was missing all the true trading signals which were all pointing
in the other direction!

I've arrowed the bullish IB, followed by the bullish engulfing candle,
followed by the bullish DB

and through all of this I'm bearish, waiting for the big drop down

I just didn't see it - I wasn't looking for it!

It would have been a very nice trade with a compelling add on too.

trade zone.JPG

This was what was really happening!

seed.JPG

[kiravon]

Just like the Good Old Days! 8am - 10am Eastern Time

A brilliant trade this morning on M5 which for the very first time
bought back memories of my early success with AIMS

These were in the days when I was strictly trading break of AIMS
no fancy extra indicators, nothing complicated

There were a few rents but one thing that kept happening on
the M5 was the bursts of momentum that I would simply trail
with stop behind each successive bar.

Without question, when there is momentum this is the finest
exit strategy.

This I think was the trade I had been waiting for - to really
get me back into lower time frame trading

I was watching the divergence as I would with H4 and was
expecting a break of triangle to the upside, but because
I am now so accustomed to H4 I saw no urgent need to
place PO

Forgetting on M5 things move considerably faster than H4!

Lesson learnt

Still as soon as price broke out of the triangle I entered
manually, very late as you can see but a nice win trailing the
momentum

div5.JPG

[kiravon]

Follow Up S2

Another great win for AIMS S2

If I can continue like this through the winter winning 75%
of time that would be quite nice

2nd aims.JPG