Mr.Meatballs questions, trades & ideas

[evilmeatball]

today i got a long signal which didn't trigger, then a short and here is the picture of it.

moved stop to b/e once risk = 1:1 or higher, thats how i do it. initial sl was at top of bar +3 +spread = 15 pips. later my sl was hit but +1, winning is winning. had an add on down there but that never got triggered.

now its 11.00 here and i take a break, learning time + laundry.

[immy]

Alexander..

nice trade there. M5 was tricky this am, though m1 was full of pippage. Thats how it goes, there are days when you have no setup on m5 and m1 keeps setting up and other days when m5 has loads of setups while m1 does not give you anything... its just they was the markets are...

cheers

carry on! Consistency is the name of the game.

[evilmeatball]

thank you Immy sometimes there are setups and sometimes not. looking back at m1 chart i find 2 winners and 1 loser, winning is winning..

also, careful of the break on eur/usd m5 short, i see divergence there atm.

[evilmeatball]

just now i see something on my charts, on this particular one there is no dot signal so this is an excellent time for a question.

so i have this question about the box size and the static rules of 5 pips from next box. i've attached a picture where the first box is 3,2 pips away and the next is 5,6 pips. so does that mean that according to AIMS i would put a pending short just below the first box?

so the question is do i put the pending at A line or at B line?

[immy]

Hello!

The simple answer is, if there is no dot, its NOT a setup.
Price is going against the purple, which could indicate two things. 1. Price is going against higher time trend, and/or 2. the market is choppy.
Although in a situation like this, you might have seen a proper setup on m1.

cheers

[evilmeatball]

but Immy if you don't mind, the question is about the distance to the boxes. i know that there is not setup and no dot, its only about the box size i wonder

[Topher]

Alexander

In your example you could draw another line at point C just below A & B and keep going for the different aims levels. I am always very wary of such levels as these will act as support in your example.

I would not have placed a PO at either of these levels I would have moved timeframe to look for a better setup.

Richard

[evilmeatball]

took this long in AU M5, signal was green dot, looked back for AIMS level and checked the 5 pips distance, placed trade and SL. hit SL -8 pips.

i still don't have an answer on my 5 pips distance question above, if somebody knows the answer please let me know. currently i use the logic: "if AIMS level is within 5 pips or smaller i take the break of the higher AIMS".
example of this: "signal going short but there is another AIMS level 2 pips below, i would not place pending short order but put it 1 pip below the 2 pips lower AIMS level".
further more, if i do not get/have the answer to my question about the 5 pips i feel i cannot argue/take trades that are not breaking the current day highest high / lowest low.

please advice

ot: yes i know i am not good at explaining

[Kyle]

Hello Mr Meatball.
I am only a novice myself, but have read a fair bit through this forum and have seen that Grant uses a 13 pip S/L on most of his trades. That is 10 pips for the drop as such and allowing for the spread as well. Maybe on some, you might look at that if the S/L is too tight??

Please don't get discouraged. I see this as a very good method. Some people have "got it" within a week or so and others longer. I think I am starting to "get it" now, so hope to turn the probability around on my demo account and see how it goes for a while before putting real money in

[evilmeatball]

TassieFx i use a similar method actually, sl + spread (+1 for longs / +3 for shorts) this is on the bar that takes me into the trade. so its pretty similar to Grants method i'd say, i don't move the stop to -4 once +5 though, i use my EA for that. but still.. i agree it's a nice way to do it

btw do you know anything about the 5 pip AIMS level thing? i've been searching for where i read it / heard it without luck..