Polish Trades

[Grant]

Forgot to say that they are set up for full lot sizing, so if you have a mini/micro account then adjust the pip value accordingly..

ie on the $ based SS, mini account 1 lot is $1

cheers
Grant

[Luke]

B/e It moved plus 6 in my favour was tempted to take that when it stalled but thats less than half my stop loss. i would like at least a 1:1 or close before i think about taking a profit. Am i right?

[Grant]

Morning,

After that many red candles down i would have been at BE as well and there is no problem in not taking 6 pips to keep your wins avergae up....

If we have a win/loss ratio of 50/50 then it is imperative that we try and let our winners run to at least 1:1..

cheers
Grant

[Dave]

Hi Luke,

I took the same entry and closed on that same retrace for 1.6 pips. Given the large stop loss and the confluence of all of the lower AIMS levels (1, 5, 15 and 60 min) I still consider it to be an ideal entry, it just didn't work out as hoped.

When price breaks so many levels at once I'm very reluctant to close at <1:1, unless:
1. Opposite AIMS dot;
2. Divergence of eWaves and a W5 label;
3. Price moves very quickly in your favour and away from alli without any signs of a retrace and reaches a significant level of previous price action, such as a daily low or 60 min low, or reaches a TZ/big round number;
4. Stopped above consecutive red candles;
or 5. Close is for a BE or small profit on a retrace to prevent a winner becoming a loser. Otherwise I'll try to let it run in which case I would close on the opposite AIMS dot.

Unfortunately as my journal is only a week and a half old it doesn't reflect a scenario like this but fingers crossed we'll all get one soon! \:D/

Dave

[immy]

B/e It moved plus 6 in my favour was tempted to take that when it stalled but thats less than half my stop loss. i would like at least a 1:1 or close before i think about taking a profit. Am i right?

While Grant was typing that to you, we were discussing it. I took the trade and after seeing those consecutive candles I said, "I have to move to Break even, it just have to retrace" So be it Grant said. Yes, same entry same exit.

(wd)

[Luke]

Just looked at 4hr chart for that g/u trade was right on surrport. E/U is on a brn what do you guys do around this, Me i would wait but i am not normally a 1 min trader so not sure

[immy]

Just looked at 4hr chart for that g/u trade was right on surrport. E/U is on a brn what do you guys do around this, Me i would wait but i am not normally a 1 min trader so not sure

about a couple of years ago, I stopped looking at the so called BRN's. I put more emphasis on AIMS Levels. I can trade without AIMS WAVE, I can Trade without Gator, I cannot trade without AIMS Levels. Why? The market has a structure and that structure is Elliott Wave, Elliott Wave has a Structure and that structure is AIMS Boxes. And between an Upper AIMS Level and Lowere AIMS level there is always and Elliott Wave of certain degree. My belief in AIMS Boxes is almost equal to my Belief in God. (and miracles) So If I see higher time frames aims levels to the left, I would either use them as Target areas or be careful while trading around them. A BRN is a BRN when there is evidence in the past that something happened around it. But I dont trade off the data of the past. I try to stay in the now. I cannot set a hard rule for BRN's so I abandoned it. However, they are good target points at times.

[Luke]

No trades for me this week been so busy. My flat extension roof decided to pour water in to the walls so I have been refelting that and fixing the wood and the rain doesn't help oh and putting a screw straight through the electric wire tut. My 11month daughter not been well so not had no time to my self. Glad your little one is now at home immy.

[Luke]

Hmmm just read that post of mine and the money and time away from my office stuff it would have been better to pay some one to do it..... Typical bricky won't pay out haha

[Luke]

Anyone else having trouble with this site? past week or 2 i click things i it comes up with error.
Any how 3% gain only trade for aims today. I moved my stop to b/e then had to pop to the shop get some thing for little one.Came back was hovering around brn was ready to get out but then i see a chance for it to gone through it did then out when i thought it had run out of steam. With my aims and other time frames i use made 8 % in to and half hours... i wish every monday was like this. Might called it a day and back tomorrow