Mr.Meatballs questions, trades & ideas

[Kyle]

Hey Mr Meatballs

I can remember reading it somewhere, but I just looked through the e-book and it isn't in there, so it must be in someones journal. Maybe Grant's or Immy's??

[immy]

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..

Alexandar!

The chart you have is GU and its an M5 chart. So the 5 pip rule does not apply. That rule is for our main EU M5/M1 strategy. If you're trading m5 chart you will have to establish what is the correct pip level for the next time frame e.g. M15. I have not done that for a long time so cannot suggest a pip level. lets suppose this was an m1 chart, and the purple was on the correct side adn there was a dot, you'd use line A.

I hope this makes sense.

[evilmeatball]

great! thats exactly what i needed to know Immy

[Herbert]

Of course it will be in Grant's journal... (rofl)

HI Bobby,

The m5 too close relates to where the PO is not the m1 AIMS level, so in this case the PO level was 1.3150 (under m1 AIMS 1.31524) which is within 5 pips of the m5 level at 1.31455.. So i always measure from the potential PO to the m5 level.

As to the divergence i have attached a pic where you can see that price had made a lower low but the AO had made a higher low thus creating a perfect regular divergence which tells me that there is a full 1-5 waves complete. In order for it to reset i want to see a sustained break the opposite side of the 0 line rather than just 4/5 bars. if it coincides with a retest of the purple line then it makes it more of a reset. You can see on the chart i have p[laced a vertical line at the start of the next cross of 0 line up. This would be enough to reset AO. You can even see where i took the next trade as the arrows are still on the chart.....

Hope this helps

Grant

http://www.itradeaims.net/forum/viewtop ... &start=250

[Herbert]

And from the Boss himself:

Requesting Clarification on the 3 Rules Flow Chart....

2nd box from bottom on both sides of chart....

Is M5 Aims too Close?
What does that mean?

Ans: If the M5 AIMS Level is within 5 pips range it is too close. If Yes, Place PO above/eblow M5 AIMS keeping in mind that if you do so you once again ask the question is the Exit still close enough. Which is your question below. If No, that would mean M5 level is either the same level or there is no m5 level, in that case place po below/above M1 AIMS Level

3rd box from bottom on both sides of chart....

Is Exit Point Close Enough?
What does that mean?

Ans: Check the distance from the PO and the Red Line and/or opposite AIMS levels, if more than 15pips exit is too far.

Rule 3.... Entry Close to Exit Point?
Does this mean within 15 pips?

Yes - Remember these are marked as Orange boxes meaning Trader's discretion is required!
Thanks

Hey Grant would you like to shed some light!

http://www.itradeaims.net/forum/viewtop ... f=59&t=532

[evilmeatball]

thx Herbert, i will think and try this again tomorrow. or might go over some charts later ..

[evilmeatball]

took a long today with 9 pips sl total, sl placed under the bar. sl hit by 0,3 pips anyways..

next signal i got and there was no AIMS box yet formed so i ignored it because i thought it was wrong and to big. i did not measure it, this wont happen again. signal was a winner and could have given me 20+ total for the day.

chart is attached. also, i got bored so i changed my colors and stuff

[Herbert]

Very nice opportunity you took Alexander! Only a retest killed prematurely against trade management.
If this was my trade I would have made a note on the 5 consecutive same colour candles, to expect a slowdown/retest/reversal as typically 5 consecutive same colour candles reflect a potential "sub-cycle", pretty much like your 5 period RSI or other FAST oscillator may show divergence inside a W1/W3/W5.

Your trade management took care of the "reversal risk" :-bd
Herbert

[evilmeatball]

thank you for the input Herbert. i know that the method will work and sometimes it is annoying that i am yet to be a full time trader, because that is what i wish.

as for the five candles, i am fully with you on that one and it is a shame that i was stopped out. perhaps on another broker or another universe (????) i would win here. but it does not matter now, i know that i am learning this method and that it works, because of how it is derived.

again thank you.

ot: is there somewhere for us to talk live/faster while trading? or should we refrain from that?

[Herbert]

Hey Alexander. I think we should refrain from that.. )
I prefer a solitary trading environment.

The forum allows me a contemplating, relaxed and unsolicited method of communication to share and enjoy with like-minded traders like yourself.
You are welcome to post on my thread till the forum server clog up... (hug)

Herbert