John's Journal

[Grant]

HI JOhn,

Great trade management..

Grant

[jayvee]

Hi Grant I just follow your 5 line TM

Thanks again John

[Grant]

Must be great then eh!!!!!! (rofl) (rofl)

[Bettina]

Hi John, Grant ,

one question to the new aims box, where John waited for the 5Min Aims. It was not a new lower aims level, but a new higher aims level. It was that funny kind of box, where the low is above the high, which had a different colour in V2 (see pic )
How to handle those boxes ?
Bettina

31-01-2012 EUR pink 11-06.png

[jayvee]

Hi Bettina, I just checked my 5M chart and the lowest 5 min Aims Box high was 1.3198. If you are refering to the pale Aims boxes on your 1 min chart are big Aims boxes that are larger than MaxBoxPips in the Aims Box V5 indicator.

Please check your 5M chart.

John.
PS my prices are in Aussie dollars

[jayvee]

12-01-31-1.gif

Another Sell setup red dot alligator awake and waited for new aims level. Again to close to 5m so waited for break. got to 7.9 pips profit, target was 10 pips. retrace and was taken out at my adjusted stop 1pip above the last1 min aims box high.

Should I have exited as soon as the price touched the green line, I am not sure if I read that somewhere, then I would have had a small proffit.

Thanks John.

[Grant]

Hi Bettina,

I dont actually know the technicals behind how the AIMS boxes are drawn, but i know it is a continuous indicator so the next AIMS hi will show with the current AIMS low. So in this case it just happened that the last low was above the new high...

How to deal with them is just follow the rules, here we had a Set up 2 dot down, so a new aims low was needed for a trade. There were then 2 ways of looking at it depending on your brokers feed... On my ALpari feed the 5th and 7th candles after the dot had the same low so you could use this as an AIMS level and trade form it or if your price feed didnt show this then the next aims low was too late and the trade was invalidated by the AO being too old...

Hope this helps
Grant

ps Sorry for taking up your journal John...

[jayvee]

Your always welcome Grant

John

[Grant]

Hi John,

i dont use the green line in my management of trades but there may be people who do...

Should you have exited on a touch, hindsight of course says yes but you followed your rules...

cheers

Grant

[Bettina]

Hi Grant,

thank you for your reply. John forgive me, but it was a question concerning your trade.
So with my broker (the 5th and the 7th candle didn't have the same low ) it was not a valid setup, because there was no new aims level after the pink dot, before the grey one.

Bettina