Randy Cha Journal

[Randy Cha]

Hi Mike,

Many thanks for the encouraging words.
Nothing too special for my case...
I looked at the higher TFs for opportunities then took entries on M1.
I looked for setup 1s to trade; in my personal opinion, setup 1 is better than setup 2.
When there is setup 1 and AO is close to ZL, I am usually ready to trade.
Hope that answers your queries.

AIMS system has already taken much stress away from the trader with all its features. Many, many thanks to Immy, Steve, Grant, John and AIMsters seniors.

Rgds,
Randy

[Randy Cha]

6 Feb 2012

Day - ok

Mood - reflective

These few days I have been doing some reflections about my trades.
For my past trades, I felt I was taking too much exposure and risk.
I was waiting for "30 - 40" min before I exited a trade. Suddenly, I felt quite uncomfortable.
It suddenly dwelled on me that the "30 - 40" min waiting duration is fairly long on a M1 chart.
To get myself into a more stress-free state, I decided to cut down on this waiting time to exit.
With a shorter exit time, I hope I also do not need to move my stop-loss.
What first comes to my mind is to reduce the number of pips at take profit.
I always like to set a hard target of +20 pips, but now I plan to take only +10 pips. Since my take home pips is fewer now, my new SL also cannot be too big, ~ set around 8 - 10 pips. I am aware the risk:reward ratio is not very attractive but let's experiment. Never try, never know.
And since AIMS is pretty accurate for entries (in my opinion), I double my lot size from one to two mini. In this way, I still attain my +20 pips. If I can do two of such trades per day, I still get close to ~ 40 pips. That's enough for me.
If this technique works well using AIMS, I hope to go for the same number or even smaller number of pips at take profit but increase my lot size -> accuracy over expectancy.

Below are my two trades on M1 chart for today:
1st trade - 15 minutes
2nd trade - 2 minutes

120206_chart 42 new mindset.gif

[Thuvie]

Hi Randy

Love your strategy...I am trying a similar strategy...

I am looking at a 20 pip gain per day...So a gain of 10% on running balance...

Hit my target today...

I have posted them on my Journal..

"May the pips be with you"

[Randy Cha]

Hi Coopps,

Congratulations on your winning trade and hitting your set target!
It is definitely a good start.
Let's work together to refine our trading methods better!

Good trading,
Randy

[Thuvie]

Randy

Most happy to do so....

Kind regards

Coopps

[Randy Cha]

7 Feb 2012

On M1 chart:

120207_chart 43 new mindset.gif

[Randy Cha]

9 Feb 2012

Do two trades (acceleration after bouncing off trendlines)
2nd trade - manual exit (near 1 min Low and 15 min Low - try for 10 pips; if not, 8 - 9 pips ok)

120209_chart 44.gif

Notes to myself:
1) Pay attention to dots and AO - some about to cross zero, some no --> getting there
2) Work towards shorter exposure time (in-out quickly, aka scalping) - study price action; trade breakouts; fibo and trendlines (acceleration); fibo and S/R, etc

[PaulF]

And still no losers?

[Randy Cha]

Learn something new during this period of time with trading higher TF...will return soon to lower TF.
Very excited over eWave indicator...

[Randy Cha]

Date: March 21, 2012
Did 2 trades on M1 chart.
Trade setups.
Steve's eWave indicator prepares me to ride on wave 5 (up).

120321_chart 46.gif

Date: March 20, 2012
Did 1 trade on M1 chart.

120320_chart 45.gif