Nikita`s journal

[Grant]

Nikita,

Can you share with us your rules for managing your trades once they are open... ie SL trail moves and how you set the TPS etc, we can then give you feed back.

This will also help you when a situation arises, so for example, if x happens then i do y with my SL...

cheers
Grant

[Nikita]

Nikita,

Can you share with us your rules for managing your trades once they are open... ie SL trail moves and how you set the TPS etc, we can then give you feed back.

This will also help you when a situation arises, so for example, if x happens then i do y with my SL...

cheers
Grant

Sure, they are (rules) very easy:

1. SL moves only in the derection of the order. Whem price goes more than 30-40% of TP - i move SL to appropriate place (High of the candle, S or R level, Fibo levels). Nothing firmly fixed.
2. TP - now i use 1:2 RR. The simpliest way. Or, if there is a S or R level for M5 - set TP there.

[Nikita]

Morning everyone, it`s again me.
London open begins with a small rent. I decided to repeat what Immy did few days ago.
I have waited for breakout, that wait for retrace, an IB appeared, so resolve to take anattempt. (OA close to ZL, All mouth wide open)

eurusdm5.jpg

[Dave]

Just a suggestion, but by far the simplest management technique is just to trail your SL behind AIMS levels on M1. No TP. This means you constantly reduce your risk as the market moves in your favour, while at the same time never putting a limit on the potential profit. Once you master this start to look for add ons and partial closes to hit a free position, but in my opinion you have to move your SL slowly to follow the market and keep the losses small (even less than the initial SL is great! :-bd )

Dave

[Nikita]

Just a suggestion, but by far the simplest management technique is just to trail your SL behind AIMS levels on M1. No TP. This means you constantly reduce your risk as the market moves in your favour, while at the same time never putting a limit on the potential profit. Once you master this start to look for add ons and partial closes to hit a free position, but in my opinion you have to move your SL slowly to follow the market and keep the losses small (even less than the initial SL is great! :-bd )

Dave

Sounds wisely. Try to put it into practice!
Thanks for useful advice, Dave!

[Darren]

Morning everyone, it`s again me.
London open begins with a small rent. I decided to repeat what Immy did few days ago.
I have waited for breakout, that wait for retrace, an IB appeared, so resolve to take anattempt. (OA close to ZL, All mouth wide open)

I don't really see the setup here. Did you take on M5 or M1?

[Nikita]

London open upd:

This time a was more careful and was waiting for real breakout!
EU m1

eurusdm1.jpg

Rent on GU m1. Failure breakout

gbpusdm1.jpg

[Nikita]

Morning everyone, it`s again me.
London open begins with a small rent. I decided to repeat what Immy did few days ago.
I have waited for breakout, that wait for retrace, an IB appeared, so resolve to take anattempt. (OA close to ZL, All mouth wide open)

I don't really see the setup here. Did you take on M5 or M1?

9:15 on m1. But i intentionally skip setup, to confirm the breakout. And was waiting for retrace with IB.

[immy]

Morning everyone, it`s again me.
London open begins with a small rent. I decided to repeat what Immy did few days ago.
I have waited for breakout, that wait for retrace, an IB appeared, so resolve to take anattempt. (OA close to ZL, All mouth wide open)

I don't really see the setup here. Did you take on M5 or M1?

Agreed. No Setup. And if you took this trade, I can say with 100% confidence if it was taken on M5, that is not where you would put your stop loss to get out of this trade. as in the pic attached your SL should be above the tiny swing high or ideally above ~AIMS box marked with red arrows. moreover, this is what we call the black dot setup. Black dot setup, which actually is a no setup if you follow the rule of not trading against purple. When a red or blue dot is printed but going against purple its marked as black/black diamond on the chart. But you seem to not follow the dots so you wont see it. Anyway, the break of aims before your entry would have been a better, earlier entry if you're looking for trend reversals. But then again if you wnat to trade reversals, then the best place to get in would be hte earlier signal. And hte earliest signal for reversals are The Fruit. oh well, i must stop... cheers matey

[Nikita]

Morning everyone, it`s again me.
London open begins with a small rent. I decided to repeat what Immy did few days ago.
I have waited for breakout, that wait for retrace, an IB appeared, so resolve to take anattempt. (OA close to ZL, All mouth wide open)

I don't really see the setup here. Did you take on M5 or M1?

Agreed. No Setup. And if you took this trade, I can say with 100% confidence if it was taken on M5, that is not where you would put your stop loss to get out of this trade. as in the pic attached your SL should be above the tiny swing high or ideally above ~AIMS box marked with red arrows. moreover, this is what we call the black dot setup. Black dot setup, which actually is a no setup if you follow the rule of not trading against purple. When a red or blue dot is printed but going against purple its marked as black/black diamond on the chart. But you seem to not follow the dots so you wont see it. Anyway, the break of aims before your entry would have been a better, earlier entry if you're looking for trend reversals. But then again if you wnat to trade reversals, then the best place to get in would be hte earlier signal. And hte earliest signal for reversals are The Fruit. oh well, i must stop... cheers matey

Immy,
http://www.itradeaims.net/forum/downloa ... &mode=view - that`s what i was trying to repeat!
You are right - it was taken on M5. Just after 1st IB appeared, i solve to try. But on M1 there was a RED dot, purple line rule was OK. (check 9:15 m1). It was better to trade exactly the red dot on M1, not an IB on M5.
What does HTE mean? :-s