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

[immy]

Hi
Immy please tell me when should I enter on the brake of aim box from m1 or on the brake from m5 ? Because im a bit lost.Ofcourse im talking when all the setups is ready to be taken.
Thank you

Hi

If you have purple stuck in the aims box and/or Gator on m5 is sleeping you should take m5 aims levels. Making sure that when you take the m5 levels that your exit is still not too far from exit i.e. red line and/or other side of aims box.

When the gator has recently opened on M5 and price has broken sideways range and now trending, then you can take the m1 levels. But still if you filter those trades where m5 level is too close it would be best. However once trend is confirmed I usually take the inner levels, that is m1 levels.

I hope it makes sense.

ps: I'm sure I've explained that in pictures somewhere else I don't remember where otherwise I would have put the link here. Moreover, if you Study's Grants Journal and his Flow Chart you'd know when and how to use this rule/filter/guideline.

[immy]

"A trend is a general drift or tendency in a set of data. All measurements of trend involve taking a current reading and a historical reading and comparing them. If the current reading is higher than the historical reading, we have an up-trend. If lower, we have a down-trend. In the improbable event of an exact match, we have a sideways trend. The direction of the trend depends upon the method we use to perform the comparison. Real instruments fluctuate minute-to-minute, day-to-day and year-to-year. We have, therefore an enormous supply of historical points to use to determine trend. As such, we can determine as many instances of trend as we please, in any direction that we please. There is no such thing as the trend; there are countless trends, depending on the method we use to determine a trend. People typically pick a method for determining trend that fits with their current positions and/or view of the market. All methods of defining trends compare various combinations of historical price points. All trends are historical, none are in the present. There is no way to determine the current trend, or even define what current trend might mean; we can only determine historical trends. The only way to measure a now-trend (one entirely in the moment of now) would be to take two points, both in the now and compute their difference. Motion, velocity and trend do not exist in the now. They do not appear in snapshots. Trend does not exist in the now and the phrase, "the trend" has no inherent meaning. When we speak of trends, we are speaking, necessarily, from some or another view of history. There is no such thing as a current trend. When we speak of trends we are necessarily projecting our own definitions. With that in mind, we can proceed to examine ways to define, compute and use trends." Ed Seykota

[immy]

I took a Setup on UJ but it turned into a Rent was it a bad decision? Was it my fault that I took this rent? Absolutley a good setup and NOT my fault. The market does what it does. The market wanted me to exit based on my strategy and I followed it. Does it mean I will miss out like this everytime? NO absolutely not. Today it kicked my SL and I got out but on other occassions it might fly and take me with it. It happens. The most important thing is WAS THIS A SETUP? YES. Did I follow my plan? YES. Then this trade is a WINNER!

There was DA. (I actually went down from H1 so did not have to check H1 for Trend)
Rule 1. Gator Sleeping.
Rule 2. AO was close to ZL
RUle 3. Box was tight/ Exit close.

Did not Trade EJ, becasue Box was too big on m15, around 30 pips but now, It makes me wonder.... :d

AUD/JPY a similar story on the other Yen pairs so I took a H1 Setup on AUD/JPY it seems to be going well for now. Lets see how it ends up towards teh end of the day.


Pic below

[Kyle]

It was and always will be a winner Immy, as you traded your plan

[Tomi]

Hi Immy, thanks for posting this kind of trades. It's encouraging to see also rent trades and comments along. Interesting point is AUD/JPY trade and the alligator as it was not sleeping as such but making a small range horizontal move. I have seen this kind of alligators and was many times thinking that alligator is "sleeping enough for me". Good to see that you are thinking the same.

Have fun! Tomorrow another day. For me limited chart time today and no trades. Tomorrow again a normal trading session.

[immy]

Thanks Kyle and Tomi

"No two charts are alike, and at first sight this chaotic state of affairs seems to defy a simple explanation. Science
has taught us that the apparent complexity of charts hides an exquisite underlying simplicity; each is a configuration
of hundreds and thousands of ticks. There is nothing more to a chart than that and yet an overwhelming complex of
structure and form emerges when those ticks get together and form a picture of the market on our computer screens."

Professor Brian Cox's paragraphs twisted into trading. Replaced molecules of water and snowflakes with ticks and charts. LOL

[Tomi]

Brilliant twist Immy

[immy]

Update on my USD/SGD trade on Dailies.

[Topher]

Great trade Immy

[immy]

Some Reversal Trades. Although I don't profess trading reversals but there are times when Reversals become higher probability trades. Care must be taken when trading reversals. I do not recommend newbies to try this but if you are running a demo account you may want to try a few Classic Setup Entries as per the Webinar - The Beginning of Time. http://www.itradeaims.net/forum/viewtopic.php?f=39&t=92" onclick="window.open(this.href);return false;. I'll share my trades.

EUR/GBP a picture on DA Tempalte followed by Picture of Classic Template (Not Available for download but you can make your own if you like the Classic S1 Setup. It does not have HTF filters so care must be taken. Knowledge of Price Action and market conditions is essential which of course only come with experience)

I took the Trade with a Fixed 15pip SL because the other side of AIMS Level was too far. I may be stating the obvious but let me say so the lot size, position size or risk taken was half of normal. That is 0.5% of account total. My target was to achieve 1:3 however I got stopped out for 1:1.25 (appx)
more examples to come

EUR/GBP Classic Setup - Expert Traders

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EUR/GBP - DA V6.1 Template

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EUR/USD Classic Setup

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EUR/USD V6.1 Template.

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