Ed's Audit of Incompetence

[immy]

Hi

The box has to be visually smaller than the other boxes. Since you will be trading three pairs, you cannot assign one pip level to all three pairs. But from what is current volatility around 15-20 pips box is usually a tight box on M15.

2 hrs one session should do the trick. You can also focus on Famous Setup.

[Pushers]

Hi Immy,

I hope all is well with you.

I had to take a break from trading due to holidays but have made some today and will post shortly. However, I had two quick (I hope!) questions.

1. When a trade is open and goes the way you hope, two of the methods of closing is when you see a dot of the opposite colour or if the price hits the red line. All clear. However, what about a trade that is open but has yet to really move and is still in the AIMS box? Do you just let it go and wait for it either to move in your expected direction or hit the pre-set Stop Loss. OR do you also close it using the aforementioned ways, just like a trade in profit? So for example, I get a Red Dot, the AO is close to Zero or has crossed, the Purple is above, the alligator is sleeping - so I go Short once it hits my PO. However, the trade does not go down and instead sits in the AIMS box. As I am waiting I get a Blue Dot. Should I close the trade out and limit my loss? Or let it ride? I hope this is clear?

2. Could you explain the DS and how to score it? I have tried to find out about it but cannot find the initial post. Does it stand for Discipline? How closely you followed the rules when entering? Is 0 for bad discipline (i.e. missing some rule or other) and 1 for good discipline? Are there other scores? Etc?

Many thanks,

Ed

[immy]

Hi

welcome back and hope you had good holidays.

your 2nd question will automatically answers the first question. I no longer support any other trade management technique, other than one mentioned in T20 Principle and how AIMS Stage 1 traders should trade. All the details are in the DASHBOARD

I will let you find the proposed trade management strategy within the steps laid out in the dashboard starting Stage 1.

cheers

[Pushers]

Batch 1

Trade 5

Tuesday, 7th August 2018 on EURUSD.

Blue Dot - check
Dot candle inside AIMS box - check
AO close to zero and recent cross - check
Alligator sleeping - check (Set Up 1)
Purple Line below (for Long) - check
PO placed above AIMS box - check

Initial 2% risk as per my trading plan.

Trailed SL on AIMS boxes so got stopped out for a small win of 0.07%

DS score I believe would be 1 but perhaps someone can tell me otherwise if I have gone wrong? But for me, I think this follows all the Flow Chart correctly.

EURUSDM15.png

[Pushers]

Batch 1

Trade 6

Tuesday, 7th August 2018 on Cable.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero and recent cross - check
Alligator open down - check (Set Up 2)
Purple Line in AIMS box - check
PO placed below AIMS box - check

Initial 2% risk as per my trading plan.

I closed the trade when price closed on the Red Alligator line for a small win of 0.2%

DS score I believe would be 1 but perhaps someone can tell me otherwise if I have gone wrong? But for me, I think this follows all the Flow Chart correctly.

GBPUSDM15 T6 07.08.2018.png

[Pushers]

Batch 1

Trade 7

Wednesday, 8th August 2018 on EURUSD.

Blue Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator open (just) - check (Set Up 2)
Purple Line below AIMS box (for Long) - check
PO placed below AIMS box - check

Initial 2% risk as per my trading plan.

I closed the trade when price closed on the Red Alligator line for a small win of 0.31%. It would have been more but unfortunately I had a work call that meant I missed the correct close by two candles and cost me pips.

DS0 this time due to the incorrect close - due to being late. But that aside I think this follows all the Flow Chart correctly.

EURUSDM15 T7 08.08.2018.png

[immy]

Batch 1

Trade 6

Tuesday, 7th August 2018 on Cable.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero and recent cross - check
Alligator open down - check (Set Up 2)
Purple Line in AIMS box - check
PO placed below AIMS box - check

Initial 2% risk as per my trading plan.

I closed the trade when price closed on the Red Alligator line for a small win of 0.2%

DS score I believe would be 1 but perhaps someone can tell me otherwise if I have gone wrong? But for me, I think this follows all the Flow Chart correctly.

GBPUSDM15 T6 07.08.2018.png

Is this Setup 1 short?

[immy]

Batch 1

Trade 7

Wednesday, 8th August 2018 on EURUSD.

Blue Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator open (just) - check (Set Up 2)
Purple Line below AIMS box (for Long) - check
PO placed below AIMS box - check

Initial 2% risk as per my trading plan.

I closed the trade when price closed on the Red Alligator line for a small win of 0.31%. It would have been more but unfortunately I had a work call that meant I missed the correct close by two candles and cost me pips.

DS0 this time due to the incorrect close - due to being late. But that aside I think this follows all the Flow Chart correctly.
EURUSDM15 T7 08.08.2018.png

It looks like Green dot to me , Is this setup 1?

[Pushers]

Batch 1

Trade 8

Wednesday, 8th August 2018 on EURUSD.

Red Dot - check
Dot candle inside AIMS box - check
Alligator open - check (Set Up 2)
Purple Line above AIMS box (for Short) - check
PO placed below AIMS box - check

Initial 2% risk as per my trading plan.

The trade initially went in my favour and then reversed and hit my original SL for a 1R (or 2%) loss. Next!

DS1 though I believe as I followed the rules for Set Up 2, it just was a "rent". Please correct me if I am wrong in your opinion.

EURUSDM15 T8 08.08.2018.png

[immy]

Batch 1

Trade 5

Tuesday, 7th August 2018 on EURUSD.

Blue Dot - check
Dot candle inside AIMS box - check
AO close to zero and recent cross - check
Alligator sleeping - check (Set Up 1)
Purple Line below (for Long) - check
PO placed above AIMS box - check

Initial 2% risk as per my trading plan.

Trailed SL on AIMS boxes so got stopped out for a small win of 0.07%

DS score I believe would be 1 but perhaps someone can tell me otherwise if I have gone wrong? But for me, I think this follows all the Flow Chart correctly.

EURUSDM15.png

Trailing Fractal is NOT part of trading the Setup 1.
The Trade Management for Setup 1, (which I thought you'll find out, but it seems you have not)
At the time of setting up PO.
Calculate SL based on Entry on one side side of the box and SL on the opposite. 1pip plus spread buffer each side of the box.
So that will mean if you risk 1% or 2% (which ever have you decided must be kept same risk percentage for all batches you ever take)
Your Stop Loss i.e. SL is 1R (opposite side of box)
At the same time set a 2R take profit level based on the combination of "where is TZ1" and double of your 1R SL. IF SL x 2 is more than tZ1 then don't take trade.
Move to BE at +1R (while still in trade)

With this TM your possible outcomes are limited to 3 , you either get 2R profit, 1R loss of Breakeven Trade.

cheers

ps: trail box was wrong.