Mike's Journal MSK185

[Spyros]

Your description was fine, as was the chart.

It's the prescription glasses I am wearing that need to be evaluated.

[msk185]

No trades for me this morning as I didn't see any valid setups, on EURUSD, GBPUSD or AUDUSD M1.

These leads me to my my biggest challenge with aIM which is knowing what is a valid setup that I should be trading as I look on here and see many of you taking successful trades that for some reason I have either not seen or considered in valid either due to adjacent M5/M15/H1 levels or alligator shape.

Well done to all of you on your successes this morning hopefully I'll have some success tomorrow.

Cheers for now
Mike

Mike

[Grant]

Morning Mike,

no trades for me either on EU/GU m1 or m5 charts.

Only valid set up i can see is EU m1 around 30 mins before London open so just before i switched on....

Having said that Imran and I talked ourselves out of the slam dunk on UJ m5 about an hour ago.... c'est la vie, there will be more

NEXT

Grant

[msk185]

No trades again for me this morning as no setups seen.

Not sure if I am guilty of talking my self out of trades as keep seeing others posting successful trades.

Ah well always tomorrow

Mike

[Topher]

It is very easy to be critical of setups and talk yourself out of them.
Tomorrow will I am sure bring about that ahha moment.

Richard

[immy]

Hi Mike

For me there was nothing on EU m1 beside the 8.57 UK Blue arrow trade was possible but was waiting for a fresh AIMS Level it did not form. then price reversed. I constantly watched H1 because it was a sleeping gator so was careful. When H1 alligator is sleeping and AIMS Levels are tight there is usually chop on m5 and m1.

Since I trade several pairs on m5 using the arrows (I will discuss this strategy shortly in my journal) I had some very good trades .

cheers

(Richard Beat me to it)

[msk185]

First trade this week unfortunately a rent.

GBPUSD entry on M1 looking for wave 5 move south, triggerred in and out in 3 minutes. Saw the setup form for a second time looked good with dot and arrow but wasnt to be.

Next!

Mike

2706 1535.gif

[Grant]

Hi Mike,

i had the same idea on EU at that time and paid a 4pip rent for my first trade of the pm session.....

have since shut down and walked away....

cheers
Grant

[msk185]

Thanks for the feedback Grant its always good to see if I'm taking correct setups especially when they dont work.

I thought it was time for a review as I have now been trading AIMS on EURUSD M1 for the best part of 6 months and pretty much full time. My overiding view would have to be inconsistent. I shalln't bore everyone with lots of statisitics but suffice to say my losing trades are more frequent than my winning ones and overall my account is down close to 10% - fortunately I'm using a small account so the cost is not huge and good value for the learning of a new career.

I feel my biggest issue is lack of consistency, inconsistent entries, trade managment and trade sizing. This I must endeavour to overcome. My biggest challenge in this is to develop consistency on what constitutes a setup for me. Questions to resolve are "what does a sleeping alligator really mean to me?" "how close to zl should the ao be and how fresh is a fresh cross?" "when is the M5level to close and when can it be ignored?". For my psychology I need these to be crystal clear.

I'm fortunate enough to be about to go on a beautiful 2 week vacation, so I shall use this time to think these questions through and try to come up with some rules I can work with to improve my trade entry consistency. Then when I return I shall make a concerted effort to trade like a vulcan, taking every setup consistent with my rules and no others and see what the outcome is.

Once again many thanks to Grant, Immy and Steve for producing a great support system and for all the contributors on here who make it work so well, it is without doubt the best forex forum I have come across and by far the best value system I have purchased.

Good trading to all, may the pips be with you.

[Herbert]

Enjoy your vacation Mike....... Keep safe... :thumbup:
Herbert