Journal of Julius

[Julius]

Just for the record. My last trade for the Friday was another loser with -5.7 pips. In general I lost -26.1 pips on Friday, giving back almost everything what I won during the week.

[bhands]

Hi Julius,

Nice to see you posting your AIMS trades!!!

I know of another new AIMS trader that has checked out the Asian session and because of the points that Grant made he only targets 6/7 pips during that time zone.

Looks like back testing is the only solution to finding a sweet spot for targets and your posted trades appear to be proving that. The good news is that it is only one pair that needs to be explored.

I have read of MT4 indicators that plot the different trading sessions on the chart which would be most helpful for backtesting. Does anyone have a recommendation for a good one?

Bruce H

[Julius]

Hi Julius,

Nice to see you posting your AIMS trades!!!

I know of another new AIMS trader that has checked out the Asian session and because of the points that Grant made he only targets 6/7 pips during that time zone.

Looks like back testing is the only solution to finding a sweet spot for targets and your posted trades appear to be proving that. The good news is that it is only one pair that needs to be explored.

I have read of MT4 indicators that plot the different trading sessions on the chart which would be most helpful for backtesting. Does anyone have a recommendation for a good one?

Bruce H

Welcome Bruce to my journal!

Could you introduce me to that Asian session AIMS trader?

When you refer to back testing do you have in mind MT4 F12 or something else?

Most of the session indicators I found on forexfactory.com. I especially like the AutoSessions that draw boxes in different colors for different sessions as well as prints the session pip range. Here is the link http://www.forexfactory.com/showthread.php?p=3876846. On the same thread you can find other free session indicators.

But I think the best option would be to obtain Steves open session indicator ^:)^ that is used by Grant and Immy as well.

Come again here!

Julius

[Julius]

My 1st trade today and this week. Tried to trade just a little before Frankfurt open, because recently I noticed that market moves enough already 1.5 h before Frankfurt open. Didn't notice that I was trading into recent (1-2 h) support on M5 and M1. Bounced of support up. Hit my AIMS box stop loss.

M5 diverged, and was reset after the 5th wave. The same with M1.

Julius

[Julius]

My general evaluation on the last trade was correct - M5 had finished the 5th wave and was going for a reset. On the last trade I just jumped a little too early on to the train. This time being aware of the support level, which was just a few pips lower, I put my PO 1 pip below that 1.308 support. The PO was 4 pips below M1 and 2 pips below M5 lower AIMS levels.

What is interesting that price exploded so violently that my order was not filled at exact price, it was filled 2 pips lower my PO. PO was 1.3079, and it was actually filled only at 1.30769 i.e. -2.1 pips lower. I hope these long explanations will be useful to somebody ?

My target was fixed at 20 pips. As usual I am attaching the chart pictures to the post taken at the entry and at exit moments.

And, yes, I almost forgot to tell you, I am done for today. I set my daily goal of 10 pips, if I reach 10 pips I am done. +16 pips for today, now I can focus on my other jobs

Julius

P.S. Besides entry and exit charts, I have added the chart of 10 min later after exit. Isn't AIMS beautiful?! (*)

P.S. P.S. I hope you guys don't find me annoying? Just for the learning purpose I also have added the M5 chart. So you can see what I mean by saying that M5 has diverged showing the end of 5th wave. Actually blue thicker straight lines show even 3 divergences. And you can see nice orange AO Waves equilibrium-reset aftewards.