Fastmonty's Journal

[Fastmonty]

Immy,

Thanks... I'll role back to v5.1. Good question about strategy... I was under the impression that I can trade the Fruit and the Seed at the same time??? Please correct me, if I'm wrong. That said, I placed my first trade today, below are the screen shots of Entry and Exit.

T20: First trade
Time: 11am New York
Risk: .5%
Entry: AimsBox S1, on GBPUSDM1, after being notified of Fruit Buy on H1
TP: 1:1
Exit: AimsBox trailing stop
Hit stop loss with a small loss.
Post Mortem: Although I followed a Fruit Buy on the H1, the trend was down. It was also into the last hour of London session... probably should stick to the H1 trend direction for new orders?

[immy]

Have you Completed your Trading plan? A Detailed trading plan based on the trading plan tempalte, A sample exists in the skypers stash but you can download the free template by the original writer from trade2win in our trading plan section.
If you don't have a trading plan, every trade you take is a mistake and is a DS0.

See strategy has evolved into The Hunt Strategy. The Fruit strategy has a comprehence 180 pages ebook that covers everything. That is what needs to be followed , which I do in my trading on H1 Currencies.

[zlabis]

Hello Mike,
great that you've found your way here and that you've started your trading journal. Keeping it updated is, together with a detailed trading plan, as Immy has already mentioned, one of the most important factors for being/becoming a disciplined and cosistantly profitable trader, IMHO.

According to your trading approach, I personally would say trading basic S1/S2/Classic for a couple of weeks/months is a great start to get a good understanding of reading the structure on which all the AIMS systems are based. I'm not sure if currency pairs are the perfect instruments for M1 due to big spreads in relation to rather small daily ranges and low volatility. And the H1/M1 combination doesn't seem ideal to me either. If I may, I would recommend M5/M1 combination with DAX as it has super-high volatility compared to major pairs or H1/M5 or M30/M5 on major pairs. After mastering S1/S2 over some period, there are the other AIMS strategies or combinations of them to choose from and to build together a very personal toolbox.

Keep it up :-bd

Cheers
Michael

[immy]

Hello Mike,
great that you've found your way here and that you've started your trading journal. Keeping it updated is, together with a detailed trading plan, as Immy has already mentioned, one of the most important factors for being/becoming a disciplined and cosistantly profitable trader, IMHO.

According to your trading approach, I personally would say trading basic S1/S2/Classic for a couple of weeks/months is a great start to get a good understanding of reading the structure on which all the AIMS systems are based. I'm not sure if currency pairs are the perfect instruments for M1 due to big spreads in relation to rather small daily ranges and low volatility. And the H1/M1 combination doesn't seem ideal to me either. If I may, I would recommend M5/M1 combination with DAX as it has super-high volatility compared to major pairs or H1/M5 or M30/M5 on major pairs. After mastering S1/S2 over some period, there are the other AIMS strategies or combinations of them to choose from and to build together a very personal toolbox.

Keep it up :-bd

Cheers
Michael

Agreed on absolutely everything Michael said I'd only add this,

For the purpose of T20, I would go for EUR/USD M5/M30 (or cable if you're a big fan of cable ,which ever has lower spread is better) approach which is identical to M5/M1 as explained in the Setup Ebook. When I wrote the setup ebook EUR/USD used to trade 100-200 pips a day and that was ideal, almost identical to what we have on DAX m5/m1 these days. Who knows when will dax change but we know what we will do already. If the volatility goes higher, we go lower time frame, when the volatility goes lower we go on higher time frame. People think its the other way round but that's what people think.

So M5/M30 or M15/H1. Go for ONLY 1 pair and do 5 T20's. Trade S1 Setups.

If you need help all you need to do is create a new post in your journal, with some pictures and ask away. Not enough people ask enough questions otherwise most people will become good traders.

happy easter ... have fun this holiday period

cheers

[Fastmonty]

Immy and Michael,

Thanks for the feedback. I really appreciate it. I will suspend my trading until I complete my trading plan and re-read the Setup.

Your comment about volatility and time frame makes perfect sense to me. Being in the Pacific Time zone AND a US Citizen limits the amount of instruments we can trade with. I think trading DAX would require me getting up at 1am too. That's not going to happen.

Last question... should I start a new thread when I complete my Journal, or just add it here?

Have a great Easter!

Mike

[immy]

this is your journal, what happened above is important learning points. You might want to continue it.

[zlabis]

Mike,
what I've found very practically for my journal is to use first post as some sort of table of content where the development and progress of my trading is marked as updates with the date and a short description of the changes or important milestones. So, IMHO, it's a good idea to stick to one main journal thread for your main trading method. If there are further trading methods later like D1 position trading or investment, it's probably good to open a specific journal.

But most important is to keep journal up to date at all. The rest comes by it self, IMHO.

Cheers Michael

[kwakboat]

the aimsigator indicator seams to be very nice and Im trying to download it but can not find it, where can I find the indicator.? Thanks

[immy]

discontinued. replaced with AIMS Gator v5.1 and AIMS Gator V5.2. in the download section.

[HFTrader]

Fruit/Hunt Strategies
good morning,
I joined this past week and have mostly spent my down downloading the Setup 1 ebook, studying it, and downloading and installing everything on MT (which I've never used...I"m only familiar with Tradestation and Ninja.

My primary purpose in joining is I've always been interested in the Fractal Break methodology.....I find your concepts explain it in much more detail.

Couple of things.
1. I'm unable to locate and download the Fruit Strategy
2. I'm under the impression it's now evolved into the Hunt strategy?
3. Are those basically "pullback/retracement" strategies. I was personally taught that technique by linda raschke some years ago. I wasn't too successful at trading her personal accout with it...sad to say. However, a friend of mine is averaging $250 US/day trading that on ONE futures contract. I've had trouble duplicating his success. If you have something similar...I'd like to look at it.

my apologies for such a long-winded post..

PS i'm in the States and only trade the futures markets

thanks!
John