Immy's Corner [The Setup The Hunt - T20's and more]

[Spyros]

Nice work!

I missed this setup, but I got the previous one. Not the perfect in terms of AISM rules, but I ended up with 27 pips.

Enjoy your weekend. Too hot to sit and watch TV, even if I like tennis. Beach time.

Take care all.

[immy]

Average Stop Losses Per Time Frame and Pair

As long as a Setup requires a Stop Loss equal to or less than stated below, it should be considered as low risk entry. Keep in mind that for a setup to be low risk there are several factors that needs to be taken in to account this is just one good factor.

These numbers can be used for AIMS Levels too big as well. or a factor of 1.5

[immy]

A Chat Session from the Group - I wanted to save.

[16:05:27] Immy - AIMS SFT: The Double arrows, I love it.
[16:05:51] Immy - AIMS SFT: infact I've developed such great confidence in it, that I dont trade anything but double arrows and am hitting quite a high success rate.
[16:06:01] Immy - AIMS SFT: win/loss has really improved.
[16:07:27] Immy - AIMS SFT: 65% success rate.
[16:07:49] Immy - AIMS SFT: based on data from 9th of july
[16:08:13] Immy - AIMS SFT: and based on trades taken on all time frames, including m1, m5, m15 h1
[16:09:11] Immy - AIMS SFT: but filters and selective trading. "if we can filter that, we can filter this" approach.
[16:11:00] Immy - AIMS SFT: todays, star steups GU, AU, Ucad, EJ
[16:11:12] Immy - AIMS SFT: what else one wants, if you get 4 singals a day, higher probability ones. ?
[16:14:47] Leviathan: Exactly
[16:15:02] Leviathan: the multi arrow stuff is looking like solid gold on m5 for me, and that's all I'm taking lately
[16:15:21] Leviathan: not trying to steal the fifth of the third or fifth moves off m1 as much, just grabbing the m5 moves when they start and trying to hang onto them
[16:17:59] Immy - AIMS SFT: perfect
[16:19:13] Immy - AIMS SFT: it seems to be very reliable on M5's in the direction of H1 and M30. I had put a multiple gator on m5, over the weekend, effectively, a double arrow makes you trade 3 time frames above without the need of displaying all three (or displaying all three gators on m5) . but if you have a quick look thats best, but at times it might unnecessarily clog your mind as well. there is always a catch
[16:19:52] Immy - AIMS SFT: e.g. this am, GU, was great setup, but despite the great trend on h1, I hesitated, still I over come that fear and took it, i was suppose to add on at h1 break but hesitated, otherwise i could have made more money

[tombacon89]

Immy I like your comment further up your journal..

'How many hours do you fish before you catch something? You persist, you are patient, you are disciplined, you have faith! and in the end you are rewarded with a FISH! Trading is no different!'..

I have sat through many blank days getting bored and frustrate at times but you are right. fishing is no different to trading! just because you decide to go fishing doesn't mean you will catch a fish. the lake owes you nothing nor do the markets, everyone has their own theory and methods that work but some are more complicated that others. In fishing you need an edge, patience and discipline, and most of all the confidence in your edge to outsmart the fish. As they can wise up to your edge pretty quick! the same is true for trading systems. I started out fishing for fish smaller than my hand 2 years ago, now i've 'compounded' my passion and all of the above qualities and are catching some decent sized fish.. all are also key things with trading. Perhaps my passion for fishing can be transferred into my trading habits.

[immy]

Tom

Now that is one BIG fish! I'm sure you exercised Patience and Discipline and got rewards with a Mighty Fish! ah the feeling must have been amazing!

Nice post! and thanks for sharing!

[immy]

I'd like to save this chat session for later review.

July 24 2012 London Session. Times UK GMT+1
Luke: e/u anyone?(09:44)
Me: which way(09:45)
Dave: not for me, m5 asleep(09:45)
Luke: short(09:45)
Spyros: I only have one arrow.(09:45)
Luke: yeh 5min sleep(09:47)
Me: thats why we dont have double arrow(09:47)
Luke: no go for you then immy?(09:48)
Me: risk is low pipwise, but risk is high trend wise, low risk pip wise is cancelled out by no trend. Calculating risk has many factors.(09:49)
Me: I do take sunch plunges at times, but right now gator on m5 is sleeping and it has not broken ain aims level out of its sleeping mouth. when it does, I'll hop in.(09:50)
Me: I have with time become very choosy! there was a time I took each and every setup, not so much now. it seems the older I get (in trading) the conservative I become.(09:51)
Me: so we saw, 3 down and 3 up. that itself tells you ther is no trend confirmed. but we have m5 to look at.(09:51)
Me: As a trader your first job is to find what?(09:51)
Luke: trend?(09:52)
Me: exactly.(09:52)
Me: what is the trend?(09:52)
Luke: your friend (09:52)
moty: ali in higer t/f?(09:52)
Luke: looking at the 1hr i would so its in a down but then again its going flat and looks like its going to for a bit(09:54)
Me: so Luke, is the trend on H1 down or sideways?(10:02)
Luke: sideways(10:03)
Luke: ?(10:03)
Luke: ali sleep(10:03)
Nitin: Its down but its in 4th wave and retracing(10:03)
Nitin: or say sbc(10:03)
Nitin: *abc(10:03)
Me: ok so is it down or sideways, at least we know its not up. good lord,(10:06)
Me: so lets establish this now. is the trend down or sideways? final answer(10:06)
Me: btw its a good setup on m1 now.(10:07)
Me: a breakout setup on m5.(10:07)
Nitin: if we see overall its down(10:07)
Me: but not a trend following one.(10:07)
Me: Nitin, what do you mean by overall its down?(10:08)
Me: (I'm really enjoying this discussion.)(10:08)
Me: come on guys, I want an answer.(10:08)
Dave: Can I try an answer?(10:08)
Nitin: lol I mean on H1 we had wave 3 and now expecting wave 5 so that.....(10:08)
Me: yes, anyone can answer, we are learning.(10:08)
Nitin: why u say its not trend following on m5?(10:08)
Dave: It's all about where price is vs alli and balance line. Price is below alli and below balance line therefore thrend is down(10:09)
Dave: on H1(10:09)
Me: Ok so now, the Q goes back to Nitin and luke.(10:09)
Me: it is really important. If we get this right, half the work is done.(10:10)
moty: what is the q?(10:10)
Me: Moty! you just proved you were not paying attention to chat. (10:11)
moty: no, to much lines(10:12)
Me: If at any point, I found that the chatroom has turned into BS, Moty, rest assured, I will take it down. I promise.(10:13)
moty: till i finish toread one line, you all write 4 other(10:13)
moty: BS???(10:13)
Me: Ok, I'll slow down. (10:14)
Nitin: accept the chaos Moty (10:13)
Nitin: Bull shit(10:13)
moty: no bs for me(10:14)
moty: i use it very much(10:14)
Me: ok so Nitin, what is the trend?(10:15)
Me: Moty, what is the trend?(10:15)
Nitin: Immy as I know Its down on H1(10:15)
moty: un what t/f?(10:15)
Nitin: thats set(10:15)
moty: in(10:15)
Me: A VERY GOOD QUESTION Moty. well done(10:15)
moty: on 1m is down(10:16)
moty: away from p. line(10:16)
Me: exactly, this is what I was looking for, on WHAT TIME FRAME.(10:16)
Me: First we need to establish, a trend is a trend / time frame.(10:16)
moty: so? ni BS?? (10:16)
Dave: Thought we were talking about H1?(10:16)
Me: Dave, your logic is absolutely right.(10:17)
Luke: i always look at 1hr for trend?(10:17)
Me: Gator Lines are the balance lines.(10:18)
moty: on 1H is sideways(10:18)
Me: Luke, and what time frame do you trade?(10:18)
Luke: 1(10:18)
Me: that means you will trade only a few times per week then?(10:19)
Luke: would you have took that 5min setup immy?(10:19)
Luke: o (10:19)
Luke: lol(10:19)
Me: h1 does not trend all 5 days of the week, some times, it does not trend during a whole month.(10:20)
Luke: so we look at 5?(10:20)
Luke: the purple line?(10:20)
Me: for the M5 setup, I ask the same question, what is the trend?(10:21)
Luke: 15(10:22)
Me: Look, our first job is to establish what the trend is. if that question is not answered within 1second, I look away. so what is the trend?(10:22)
moty: m5 down(10:22)
moty: down(10:22)
Luke: side(10:23)
Nitin: oh god, Its down on H1 I think xD(10:23)
nickderby has left the chatroom(10:23)
Thuvie has left the chatroom(10:23)
steven6 has left the chatroom(10:23)
birdy has left the chatroom(10:23)
moty: away from prpl line(10:23)
rui has left the chatroom(10:24)
Luke: me heads gone haha(10:24)
Nitin: we we look gator on H1, its opening(10:24)
Nitin: to downside(10:24)
Luke: i think the double arrows tell us? like on e/u now(10:25)
Me: the double arrows is an alert, there is a concept behind it, we need to understand the concept before the alert is of any use to us.(10:26)
birdy has joined the chatroom(10:26)
Nitin: let see if it can clear the 15 min low(10:27)
Dave: When we work out the trend I have a question re: the alert - but I'll save it for later(10:27)
Luke: did u take e/u? i missed it due to ao(10:28)
moty: On m5 ali is open down and away from p. line, so the trens us down ( i think)(10:28)
Me: A trend is said to be up on a certain time frame when price is Above the Gator's lines, and broken An AIMS level.(10:30)
Me: so at the moment, trend on M! is Down.(10:30)
Me: Trend on M5 is Down(10:30)
Me: Trend on h1 is down(10:30)
Me: All this morning, ater the double arrow on H1, price stayed outside the gators mouth and even below aims levls. trend was down.(10:31)
Me: so we want Trend to be down, as per defintion, on higher time frame, and find a Sideways, consolidation, Setup 1. where Gator mouth is shut, and price is stuck within upper and lower aims level. so we take a a breakout trade on our current time frame in the direction of Trend on higher time frame.(10:32)
Thuvie has joined the chatroom(10:32)
Nitin: I was right, but not confident(10:32)
moty: clear to me(10:33)
Luke: i missed u/ch 5min was gonna take that (10:33)
Luke: i understand immy (10:34)
Me: I will ask the question another day, then I'll see if you do. for now, class dismissed. I hope you enjoyed it.(10:35)
Me: it is my JOB to impart this knowledge to all of you. if I'm unable to teach what a trend is, then I'm useless.(10:36)
Luke: dosnt this distract you immy from your trading?(10:35)
Me: If it did, and when it did, I will not be part of Chatroom. I cannot sacrifice my trading for teaching. no way. I'm short GU, Short EU, (m5) and took profits on EU m1 already.(10:37)
moty: thanks Immy, i like your way to explain(10:37)
Nitin: Luke whn we teach someone a concept, that made us even more focus/confident to that, I hope same happen with Immy(10:38)
Luke: what was your entry on e/u(10:38)
moty: Immy, if u enter the eu on m1 and on m5, u duble your risk?(10:38)
Me: 1.2107 and 1.21038(10:38)
Me: On m1 i was targeting low of m5 to the left. it was a breakout trade on both time frame. its not as high probability as when M5 is also trending.(10:42)
Me: if it was a double arrow setup, I would have announced PO in the cahtroom, but we were discussing what is the trend, and there was confusion. so we need to be FIRST absolutely clear on what is the trend. (no indicator will help us, if we dont know the basics of trading)(10:43)
Nitin: all indicators r hidden moving averages(10:44)
rui has joined the chatroom(10:44)
Luke: right immy i'm trading 1min. i look at 5 for trend, it has broke out of aims say long ali starting to open so am gd to go on 1?(10:45)
Me: When Trend is confirmed on M5, You are good to go and look for Setup one on m1.(10:46)
Me: what is happening right now?(10:47)
James: Retrace(10:47)
Me: YEs James, rightly spotted, and Trend on M5?(10:47)
James: Down(10:48)
Luke: wave 4? 5 down so looking for setup1 on 1 min(10:48)
Me: Whasts the next step?(10:48)
Luke: the sadle point?(10:48)
Me: Yes, Luke. thank you.(10:48)
Me: I mean, what you said before, "looking for S1 on m1"(10:49)
Me: its that simple. WAit for M5 to break out, then wait for setup 1 on m1.(10:49)
Nitin: Immy robochef needs some good training(10:49)
Me: so for h1. wait for H4 to breakout and then wait for setup on H1.(10:49)
Luke: so i can walk away from computer now and wait for alarm to tell me to have a look?(10:49)
Me: for Daily, wait for weekly to breakout, then wait for setup 1 on D1.(10:49)
Me: M1 is not a walk a way time frame though... if you trade m1, trade for 2hrs with focus (focused relaxation) then walk away.(10:50)
Me: we already have double arrows.(10:51)
Luke: e/u setting up? po at 15min?(10:51)
Me: Now we start asking the questions of the flow chart.(10:52)
Me: do we have double arrows, YES(10:52)
Me: The Three Rules.(10:52)
Me: Is gator sleeping YES(10:52)
Me: IS AO close to ZL? and fresh cross. YES/hmm Yes.(10:52)
Me: IS Exit close to entry? No yet.(10:53)
Me: Is M5 level close YES(10:53)
Luke: little far for me(10:53)
Me: M5 is too close to entry ,so we need to put entry below m5 level, but if we do that, our entry is too far from the lines. so no go at the moment.(10:54)
Me: we want our entries above/below the AIMS levels that are the closest to the lines. (the exit points)(10:54)
Me: perhaps entry below m1 could be less risky , pipwise, but more risky whipsaw wise(10:55)

[Kyle]

Thankyou for posting this Immy,
I wasn't able to get to the room last night, but it was real useful reading the chat afterwards

Kyle

[immy]

A successful trading session in the chatroom....

Contains some explanation about how the arrows work!

Paul: hi, namastay,bonguirno, guten tag gud dag sawasdi g'day to all(08:24)
Spyros: Hey Paul(08:25)
Daniel: in on the pound south(08:25)
Paul: sorry Spiros don't know the Greek word for good morning(08:26)
Paul: Spyros not Spiros my spelling not good today(08:29)
Nitin: namaste Paul(08:30)
Spyros: "Kalimera" but never mind.(08:30)
PaulF: Morning all(08:34)
Paul: hi PaulF(08:35)
Spyros: Hello Paul(08:35)
Nitin: oh Paul and PaulF r different, I didnt know it lol
Me: Hello Hello..
Daniel: hey
Paul: Hi immy
Nitin: Hi
Spyros: Hello Immy
erik5599: hi immy
Thuvie has joined the chatroom
Brian: gm immy
erik5599: hi paul
PaulF: A Paul and a PaulF!! Confusion!!!
Thuvie: HI People
Spyros: Hi Thuvie
Me: Hi Paul and Paul with an F, and Alex with a D, and Brian, Daniel, James, Kyle, Nitin, Spyros Thuvie, Monsieur Erik, and forex shane.
Thuvie: Anyone take the ej m1
Thuvie: was just before LO
James: Hi Immy
AlexD: hello Immy
Thuvie: Nice 28 pips there if ayone took it
Thuvie: Cup of Tea time
Me: it was good setup but I did not take because believe me I was snoring away...
Jacques has joined the chatroom
Me: my sleeping pattern has been messed.
Thuvie: Has anyone had any experience in trading ,when using small capital and bigger capital outlay
Me: whats that?
Nitin: do u mean different experience when trading small and bigger capital account?
Thuvie: yes Nitin
Thuvie: nice cup of Chai
Thuvie: Ahhhh
Nitin: lol chai, I love chai
Thuvie: Yep nothing better than Chai
Nitin: but people say, its making me skinny
Thuvie: The version here in AUS is not as good as India though
Paul: Hi Thuvie I have gone from a $20,000 down to a $1000 account and it has been a bit traumatic for me, a lot more cautious deffinitly
Me: give me that Chai Nitin...
Thuvie: I had a feelin Immy would want some
Jacques has left the chatroom
Thuvie: Paul: Is this a Live Account?
Paul: chinese tea is the cup of the day here
Paul: Yes mate
Thuvie: No Chai Is!! what u say Immy?
Nitin: Immy thats normal kadak chai with milk and sugar
Me: fortunately and unfortunately the days of Chai are behind me. I gave up. Now i dont need a stimulant to wake me up. My body creates its own chemcials
Me: Nitin, thats the one. yum yum
Thuvie: Good on you Immy
Nitin: so Immy wht u drink now in morning?
Thuvie: Dont need it to wake me up, just for taste
pinnedacier has joined the chatroom
Nitin: some time I drink chai in morning without brushing my teeth and believe me its tastes great hahaha insane
Thuvie: Single red arrow on eu m1
Me: not bad arrow Thuvie
steven6 has joined the chatroom
Thuvie: Did not take it as it was not a Double arrow and Gator is asleep on 15m and turning on H1
Me: gator on h1 going to sleep now.
Me: we said the same thing.
Thuvie: yep
Me:
moty: I thought that AU is too much old
moty: AO
Spyros: I passed as well
Thuvie: moty, talking about EU
Me: AU Gator is still open to upside on h1. may be we could catch some reversal but arrows don't let us trade reversals.
moty: yes, the ao on eu not frees
moty: fresh
pinnedacier has left the chatroom
Thuvie: We just stick tot he trend right Immy?
Me: yes, Moty, but GAtor was sleeping.
Me: perhaps C wave of H1.
Me: YD when I said C wave of H1, it flew up like a rocket
Me: below 70 is dance time
Me: Thuvie, he trend, you mean he trades?
Thuvie: Immy still talkin AU?
Me: Talking EU based on your Red Arrow Call.
Thuvie: ok
Brian has left the chatroom
Paul: Just to let you know I did not lose the money trading, last year floods ruined my sons and daughters houses in Bangkok The insurance wouldn't pay (act of god )government only paid about $300 compensation .I'm on a pension so had to take the money from my trading account ,so am starting over again
Thuvie: All Good Paul
Thuvie: We hear you
Me: Paul, very sorry to hear that. Hope they are fine now.
moty: Wish you much success in trading, Paul
Spyros: Money and houses can be recaptured. As long as your loved ones are fine, you will get back there.
Thuvie: Absolutely Paul... With AIMS you will definitely get there
Paul: Yes immy had to make sure everything was good for my grandson a lot of mould we had to get rid of, (he's the asthmatic one so had to make it good presence for him
Me: I never insure anything. I trust in God.
Me: but my car , because that is UK rip off scheme enforced by law.
Thuvie: Here we go
Spyros: Same in Greece. Although I think our fess are lower
Paul: to get a loan you have to buy insurance here
Daniel: yeah i feel the same way
Thuvie: Filled on eu M1
Jacques has joined the chatroom
Paul: nice one mate
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Jacques has joined the chatroom
Jacques: Entered sell on EU @ 1.2268 on 1min
Me: Thuvie I thought you were short from 75
Thuvie: PO for me was set at 1.22691
Me: there is a little thing we need to know about the arrows.
Me: the lookback period.
Thuvie: Nope
Jacques: Please explain Immy
Me: so whenever you see an arrow, it means that within the last 20 candles, the gator on the current time frame was sleeping. so when this double arrow was printed at 14th candle, if you have one, it was actually based on the candles before, when gator was sleeping. so this effectively becomes a setup 2.
Me: so we had a red single arrow at 53rd candle of last hour, gator was sleepingthen. but this time when we had a double arrow, it said to us,
Me: PRICE JUST CLOSED BELOW GREEN LINE, SO ITS A DOT, NOW LET ME CHECK IF THIS DOT IS ON A SLEEPING GATOR, OK SO I'LL SEE WHAT HAPPENED DURING LAST 20 CANDLES. THEN THE INDICATOR SAYS, OK SO I'VE CHECKED THAT GATOR WAS SLEEPING WITHIN THE LAST 20 CANDLES AND NOW LET ME CHECK THAT GATOR IS OPEN ON THE HIGHER TIME FRAME. THEN IT SAYS OK, I'VE CHECKED 2 HIGHER TIME FRAMES AND GATOR IS NICELY OPEN ON THE HIGHER TIME FRAMES. HENCE HERE YOU GO A DOUBLE ARROW. BUT HEY DONT JUST GO MENTAL, YOU MIGHT WANNA CHECK THINGS OUT VISUALLY. BUT IF YOU BELIEVE ME, THE ARROW SAYS, THEN GO AHEAD. WE ALL TRADE OUR BELIEF SYSTEM. HAPPY PIPS MONSTER STOP NOW.
Daniel: bounced off the 15 min purple
Me: WITHOUT THIS, you'd have to do all these checks on every dot thats printed. and thats what we have been doing, me and grant for over 2 years. thanks for Arrows, we dont have to do that much processing anymore. only arrow to arrow .
Me: does it make sense?
Jacques: Yes it does. Thanks for explaining Immy
Thuvie: Arrows are GOD sent through you Immy
Me: Good Lord...
Nitin: Immy as max 15 pips sl for m1, how much u suggest for m5?
Paul: makes sense and makes it all simpler which is what I need ,I used to trade the 4/1 hr timeframes so still getting used to the speed of the 5/1 min charts ! but will get there !
Thuvie: Momentum slowed down
Me: there are 2 ways of doing things. either you go with max stop loss or you go with the situation. the later is more dynamic, and versatile. it takes in to account all sorts of market conditions. so when there is volatility, your lot size is adjusted to what hte market wants at that time, when markets are slow your stop losses are adjusted. remember to use Stop loss only as a air bag to protect from disaster. havingsaid that.
Me: for m5's 15-25 pips seems to work depending of pairs. and I think you have not read my journal post... let me find the link
Thuvie: Damn Requotes
Thuvie: Hate them
Me: http://www.itradeaims....p7678" onclick="window.open(this.href);return false;
Thuvie: was getting out on 2 pipsand it requotes on the close
Thuvie: Damn
Me: thast ok Thuvie. tkae it easy
Nitin: thanx Imran
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Jacques has left the chatroom
Thuvie: ok
Thuvie: Breathing in and out
Daniel: 24.6% spanish unemployment, crazy
Thuvie: and our stupid Premeir for our state of QLD herein Aus compared the states economy to Spain
Spyros: Greek is probably larger, but our Statistical Authority "calculates" different variables. We have almost 22% and the self-employed who have shut their stores are not included. Go figure
Me: latvian finance minister says, greek should leave the eu zone asap.
Thuvie: Our Premier made 20000 people redundant by 29th June
Thuvie: Was one of them
Me: Paul, stick to 3 M5's for now if you're coming down from h1/h4. (those are lovely time frames) IMHO.
Spyros: DA on eu 1min
PaulF: For the double arrows, what are the longer term times we're using for M5 and for H1 charts?
Thuvie: Double M1 Arrow EU
moty: da eu
Paul: Funny thing Iwas thinking of doing that next week as an experiment
Me: now the dourble arrwos are saying.
Me: I've checked gator and found it sleeping within the last 20 candles
Me: then I checked 2 higher time frames. m5 and m15 and found gators open.
Me: and then it says, now its up to you what you want to do.
Thuvie: Trade the shit out of it like IMMY says
Me: so we are alerted and we then use our billions bit persecond processor to make a tradingdecision.
Me: Thuvie, only when the market is clearly in a strong move. e.g. yesterday had I got in initially at the start of the move, which was not possible, i'd have added on on every level.
Me: effectively trading the shit out of it, and when market shits, it sheds pips out.
Me: gator is sleeping now.
Spyros: Everyone shout, so we can wake him up
Me: need a fresh aims level.
Me: Spyros
Spyros: Yes
Me: here comes 5th i guess.
Me: Bundas bank has not changed its views, based on ECB statement.
Thuvie: and away she goes
Me: 63 was short.
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Thuvie: was in at 67
Me: even better
Me: I never closed my previous shorts based on m5 but I do not recommend trade management like that until experienced.
moty: 5th red bar
Me: 5th it is.
moty: +12.2p
Me: nice one Moty.
Jacques has joined the chatroom
Me: EG was a tasty situation, but no arrow on H1
steven6: dropping nice now EU
Spyros: Aiming for .42 TZ level
steven6: 22+ for me so far
Spyros: Got it. Out for 19 pips
steven6: getting out shortly
Paul: nice call guys
steven6: just checking to see what next 2 candles do
Me: Nice Call Thuvie!
Thuvie: Just want to be sharp with this
Thuvie: want to mak this a second income
Jacques: Closed my previous entry from 68 for 1pip and re-entered after arrow at 1140. Entered at 67 and targeting the daily pivot at 42
moty: The power of trading together
Thuvie: after I have been burn with many live accounts
Thuvie: we all in this together to help each other
steven6: im still hanging may drop further
Thuvie: thats the AIMS FAMILY
erik5599: u took that short?
moty: yes erik
steven6: out 18+ enough for me
erik5599: nice
Spyros: I don't think anyone missed it
erik5599: did u get DA?
moty: yes
steven6: hopefully a wave 5 comes out of it
erik5599: i did not
moty: why?
Thuvie: 1.5% for me
Thuvie: time for dinner
Thuvie: be back later
erik5599: dunno
Paul: I got the EJ for 20 pips
Thuvie has left the chatroom
Me: Sorry Erik. we all got it here. oh well shit happens, plus you were out of touch for 3 weeks. you'll get back in the groove in not time.
AlexD has left the chatroom
AlexD has joined the chatroom
Me: It was good fun, and I'm happy to see everyone made pips.
steven6 has left the chatroom
Nitin: except me
Me: but you trade m5. no worries your time will come.
Me: remember on m5's you may get days where you will make 100 pips.
Me: just dont cut your winners short.
PaulF: and me Nitin!!
Me: m5 can be traded dot to dot very nicely.
Nitin: nice PaulF good to see u on same side lol and thanx Immy
Me: sorry PaulF, what was your reason to not get in? M5 too close?
PaulF: On EU M1 my thinking was that price was still inside the alligator....
Me: inside gator?
PaulF: yes
Me: at DA, my AIMS Level was 647 for 63 entry.
Me: C Waves, and most impulse waves have market hysteria behind it.
Me: i expect more shorts. EU cannot stay up on positive news. even small bad news will effet it now.
Paul: s2 dot on eu 1 min
Me: Good News: Beta 3 is ready and we might be releasing final version of V6 this weekend, or may be next.
Me: more comments from bunda
Paul: YII HA
erik5599: c up
Me: C up yes, Erik. always news.
Me: this abc, knowledge always keeps me out of these rents.
Me: bounce off blue on h1.
Me: barcelona confirmed as bbb+ good for them.
Me: perhaps a bounce of purple? or gains...
Me: looks like C of H1 is over.
Me: but we need a fifth down...
Me: some times 5 wave is extended, so eWAve would show that as 3rd as well. So eWave should always be kept as an opinion buildder, a confidence measure. never trade elliot wave, but use it for exits and filtering trades. IMHO>
Me: trade the setups.
Jacques: People watch out for the "greed monster". In one year's time I have made 7000 pips, but I only have a very small profit to show for it. My money management was terrible. I now only risk 1% per trade. I still battle with the syndrome of "just 10 more pips" and did it again this morning. I had my TP set at 42 which was the daily pivot and when it got close I moved it to 32. Well - I got stopped out for 10 pips instead of 25 pips.
PaulF: Immy, is this what you saw?
PaulF: http://screencast.com/...3t1IR" onclick="window.open(this.href);return false;
Me: Jacques, sorry about that, and thanks for sharing. we learn something everyday. GREED FACTOR is as bad as FEAR FACTOR.
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Me: my level was not formed there. thats why they got in at 67 and i at 63.
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Me: you could have taken the 2nd fractal to the left, which was 647

[immy]

Fibonacci Numbers Sequence.

Did you know that the 1.618 Ratio sequence is a Fractal? It repeats and repeats .... ?

We know that this ratio is found in everything. Everything in the universe. What makes a body beautiful? there is only one measurement, that is the ratio of 1.618. The ancient artists knew this, the Roman Architects knew this, your eyes know this. We find consistency beautiful, we find symmetry beautiful.

A fractal is a recurring configuration. We see fractals form every day on our charts, in our thoughts, in the environment around us. The Fractal itself is the Fractal of life.

[immy]

A Very Interesting and Powerful Quoate

"I do not know a Professional World Class trader anywhere that has a 50% win ratio, they are all below that, some of them are very much below that, down in the 20 and 15 percent" Dr. Bill Williams

"We don't know what is our win loss ratio, It does not matter what matters is our profit loss ratio. Most winning traders, All winning traders that I know, have more losing trade than winning traders, number wise, but their winning trades produce more profit". Justine Williams.