Chris's Journal - Step 1 (Setup 1)

[immy]

Batch 4 - Trade 7
15/9/2017

USDCAD (S1 H4)
Entry: 1.21553
Stop: 1.22054
T/P: 1.20554

Result: DS1 (-1R)

5/7 DS1 (71%) (-4R)

hmmm, arn't you suppose to have your SL on the other side of the box?

[Boad]

Batch 4 - Trade 9
18/9/2017

GBPUSD (Famous)
Entry: 1.36058
Stop: 1.35821
T/P: 1.36523

Result: DS1 (-1R)

6/9 DS1 (67%) (-4R)

[Boad]

Batch 4 - Trade 10
19/9/2017

USDCAD (Famous)
Entry: 1.23285
Stop: 1.22985
T/P: 1.36523

Result: DS0 (-1R) Broke out earlier in session. Should not have placed order at this level

6/10 DS1 (60%) (-5R)

[Boad]

Batch 4 - Trade 11
19/9/2017

USDCHF (Seed H4)
Entry: 0.96422
Stop: 0.95927
T/P: 0.97397

Result: DS0 (-1R) TZ1 too close (But plenty of space to BE). Stop too close or woukld have been BE

6/11 DS1 (55%) (-6R)

[acceleratum]

Shouldnt have moved that stop, it would be a nice trade =) But you know it !

[Jasmien]

Shouldnt have moved that stop, it would be a nice trade =) But you know it !

Yeah just when you tighten that SL it stops you out before it shoots up lol, happens to me as well.

It was also news (FOMC) which has moved the swissy.

[immy]

hey

I don't know if its just my older pc or my older eyes lol ... I cannot see the trade arrwos your charts. may be they are too small. If that's the case may I suggest you add this in to your post
1. trade direction was it a buy/sell trade.
2. use the mt4 arrows to mark the entry or entry and e xit.

cheers

[acceleratum]

it has some very tiny mt4 arrows, I had to zoom in and glue to screen to see them

[immy]

Batch 4 - Trade 11
19/9/2017

USDCHF (Seed H4)
Entry: 0.96422
Stop: 0.95927
T/P: 0.97397

Result: DS0 (-1R) TZ1 too close (But plenty of space to BE). Stop too close or woukld have been BE

6/11 DS1 (55%) (-6R)

Can I say that its a bit unfortunate where it stopped the trade? probably yes, depending on perception of your overall goal and objective. If we focus entirely on the achievement of T20 Goals. You've earned DS1 and you have been successful. But allow me to comment on placement of the stop loss. I don't know why its there but I can see if it was below the box it won't have been hit. That is always easy to say in hindsight right? but here is a point. According to AIMS rules your SL is supposed to be below the box. Reason being those fractal levels establish this box. And when price is boxed it usually stays within thos boxed high and low levels. Which is why the best place to put your SL would be Below the box in this case.

Technically speaking, when you take a setup 1, you are doing the following:

Taking a Breakout Trade in the Direction of Higher Time Frame Trends.

That is AIMS Moto.
And you are working towards a Target established by the Wave principle. You are "speculating" that if it breaks above this level, (box high in this case) there is a 60% chance it might continue and reach TZ1.

You are also saying that there is a 33% chance that price might fakeout and go the other way. The question is, where would you be proven wrong? That's right, when your stop loss is hit. But because your SL was above the Box low, technically it was a premature exit. But may be your account size restricted you to have your SL there... in which case this trade should have been avoided.

another point is that when you see a level to the left which seems to be near the current level. its best to take the outer level. in this case your PO should have been above the level to the left. And trust me I won't comment on this if it was just a pattern is saw sometimes. Actually I've seen this pattern for decades. So as per the Setup 1 Flow Chart... Question "is box level close" would have saved the original Entry you'd have missed the fakeout and pullback and got in with the spike and a lovely 2R...

Having said that, as a whole this trade had a relatively big box. too much analysis? probably yes, but hindsight is 20/20 .. so I can go on ...

Important point to note is that it did what you "speculated" it to do. so cheerios

[Boad]

Ok, after an extended unplanned break I am back. I will start batch 4 again given the time I have missed...
Batch 4 - Trade 1
4/2/2018

EURCAD (Seed H4)
Entry: 1.53652
Stop:
T/P: 1.55653

Result DS1 (2R)

1/1 DS1 (100%) (2R)