Randy Cha Journal

[Bettina]

Hi Randy,

thanks for your answer. Your trades are shining examples well worth to be studied !

Bettina

[Randy Cha]

Hi Bettina,

Thanks for the kind words.
I am also learning from many others.

Cheers,
Randy

[Randy Cha]

1 Feb 2012

Day - ok

Mood - ok/calm

Do 2 trades on M1.

120201_chart 37.gif

Pay attention to setup 1. Most of the times, the trades can turn positive.

1st trade:
When I opened my PC, I saw a chain of red dots but I did not go in because the market maybe going sideways.
I waited after I am more confirmed it is a down trend -> then I entered. Even though, fewer pips but confident entry. (check M5)
Use Fib Expansion to determine target objective.

2nd trade:
This is quite straightforward. I use a hard target (+20 pips) and trade the trend -> the acceleration after the new lower high formed.
I use the previous AIMS Level as my stop loss -> because the 3 Green Soldiers appeared.

[Randy Cha]

2 Feb 2012

Day - ok

Mood - ok

Do two trades (on M1).

Trade 1:

120202_chart 38.gif

Close to setup 1
Downtrend -> trade away from purple line -> red dot -> short
Usual hard target ~ +20 pips
Entry and SL use previous AIMS levels

Trade 2:

120202_chart 39.gif

Setup 1 -> setup 2
Downtrend -> trade away from purple line -> potential breakout to downside -> short
The two previously drawn trendlines helped to determine entry and SL.
SL is a bit high ~ 14 pips.
Tempted to set hard target 30 pips (because lazy ).
Later decided to follow trade because it is my last trade for the day.
I manual exited when AO changes colour tone.

Notes for myself:
(1) There are some setups which I would like to attempt, but for now, I only restrict myself to two trades per day. So, I did not go for them. I try to look out for setups that I am more confident.
(2) Always good to look out for setup 1 - if I can't find them on M1, I can look out for them on M5 or higher TFs.
(3) Also good to trade breakouts - but sometimes they can be fake. I place PO below the bottom trend line. Actually, should wait for price to retrace back to bottom trend line, then I place entry. But seeing 2 red candles and one doji, price moving away from the purple line and checking M5 chart, I believe my entry should work.
(4) Practise and practise on my usual employed techniques which bring me consistent profits, so that they can become a habit to me.
(5) Timing of entry and exit - must get better. Learn more from others.

[immy]

Hi Randy

You're doing really good! Keep up the good work and thank you for maintaining and sharing your journal with us! I get personal satisfaction seeing so many people trying to learn and apply the knowledge and share it with others. its just great. thank you

May the pips be with you - Fantastic Trading :-bd

Immy

[Randy Cha]

Hi Immy,

Thanks for the kind words.
Always learning from the other members in the AIMS community.

Good trading,
Randy

[immy]

HI Randy

I'd also like to add that I personally believe that the whole magic of AIMS is in understanding the AIMS WAVES indicator. (AO) and you seem to know how to trade the AO which is great! lovely

immy

ok back to packing for me....

[Randy Cha]

Hi Immy,

Many thanks.
AIMS itself is equipped with many valuable and useful features.
AO is awesome...likewise the same for the AIMS Gator, Box and purple line.
Each feature complements and enforces the value of one another, and thereby making the end user, like us, stress-free in trading.

I appreciate you are your team very much for bringing AIMS V5 and now V5.1 to us. Tough call, but you guys pull it off time after time. (wd) :-bd ^:)^ \:D/ (hug)

Cheers,
Randy

[msk185]

Hi Randy

Hope you're having a great weekend, firstly thanks very much for sharing your trades and congratulations on what looks to be an outstanding performance.

Looking through your journal I can see that you time nearly all your entries with a fresh cross of the AO but I was wondering what else you look for that gives you confidence to take the particular trades you take.

Many thanks

Mike

[immy]

Hi Randy

Hope you're having a great weekend, firstly thanks very much for sharing your trades and congratulations on what looks to be an outstanding performance.

Looking through your journal I can see that you time nearly all your entries with a fresh cross of the AO but I was wondering what else you look for that gives you confidence to take the particular trades you take.

Many thanks

Mike

Hey Mike!

May not looking for anything else can be a huge confidence builder ! IMHO B-)