Tom from Leeds's Journal

[immy]

Week 1 - Day 3 - Thurs 8th Feb

3. -10 pips, taken out at stop loss. Placed PO above 5m aims.

Hi Tom

AIMS Waves not correct here. though close to zero line but not a fresh cross. (*) (*)

[tombacon89]

Week 2 - I've had time talking to some other aims traders over the last few days and feel more confident already.

Day 1 - traded London Open session, didn't see any valid setups
Day 2 - no trade due to work commitments
Day 3 - traded London open, placed 1 pending order below 5m aims level, price didn't trigger my order but created a new m1 low, adjusted order to below the m1 low but this also wasn't triggered. Saved myself a few pips rent.

- traded 4-6pm uk time, identified a setup but wasn't quick enough placing my order and missed the entry, the trade produced +10 pips. Not to worry.

I definatley feel like less is more compared to last week, although I haven't profited this week so far I am starting to actually 'like' finding reasons not to take trades??

[Topher]

I definatley feel like less is more compared to last week, although I haven't profited this week so far I am starting to actually 'like' finding reasons not to take trades??

Nice one Tom. Been selective is the key to this system in my opinion. Unfortunately it won't avoid all rents but it will produce the winners that will negate the rents and ultimately make you successful.

Richard

[tombacon89]

Week 2 :

Day 4 - traded London Open until 9am then I had to leave for work. No setups seen for me that morning.

Day 5 - traded 9am - 12noon UK time. No valid setups seen.

To conclude the week i've taken a grand total of 0 trades. It hasn't been an easy week but I am happy that I stuck to the rules, didn't give in to temptation to force a few pips and stayed focused throughout my sessions. Thanks to those who have helped me this week.

Good weekend to all, Tom

[tombacon89]

-1 pip on this trade, I moved my SL to BE but it wasn't triggered? manually closed the trade. all comments welcome =)

[tombacon89]

First and only trade of the LO session today, I targeted 10 pips down to the 5min low, trailed my stop for a tiny 0.8pip profit. This trade would have hit 10pips before the signal dot to manually close the trade.

Is there any times/scenarios where trailing is better than waiting for exit dot / divergence to manually exit?

Now to the day job, any comments welcome & good luck for the day ahead.

[tombacon89]

Week 3, Day 4, Trade 1

Took a -7 pip rent on this trade, placed pending above 5min aims level, had I waited for a new aims level to be formed before placing my pending I would have avoided this rent. Once I was in the trade I had 5 green candles, I trailed my stop -1 pip below the 5th candle. Sure enough price turned round and took me out.

Patience Patience Patience, I think it's time for a daily mantra to be thought up.

Positives: trailing my stop saved me 2 pips from waiting to close on an exit dot.

[tombacon89]

That's me done for the week, 2 trades, -1 & -7 pips. All comments welcome =)

Enjoy your weekend

[Herbert]

Hey Tom. Here is my input on your last trade. ?
Have a look at the 10sec elliot ebook. It helps me A LOT to know where is wave 3 using the AIMS AO. The AIMS AO is the wave compass.

With reference to pic:
$W3$::. The highly desired w3 typically gets highlighted by a AIMS setup 1 as shown in first red box. From the quick movement in price and time I already know w3 is probably in action. It is finally confirmed with the AIMS AO showing a high peak relative to previous peaks. Once I take profit based on AIMS rules I then "expect" a w4 retrace which we avoid as it is a dirty bugger.

W4 :: As price now zip around after w3, I look for AIMS AO to deflate back to zero line into it's orange range. Preferably over the ZL.

W5$::. Once I know W4 has been identified, I start to expect w5. Now w5 is "normally" smaller than w3, so I want to pay close attention to previous fractals and levels. Early/timely entry according to AIMS setup is required here. I marked that in 2nd red box.

Now, I do not really know how far w5 would go, exit thus also is tightly controlled per AIMS rules.
So how do I know w5 has been and gone??? It "normally" overshoot previous w3 price, BUT AIMS AO does not follow the same. Thus I would see divergence as shown. Again, it is good to know where w5 was as I will then know/learn to recognise it's temperament and what is next...

Looking at your trade, my opinion is that you entered too late. Look at the white remarks I made. AIMS guidelines also states that 5 consecutive same colour candles = exhaustion. So the wave was already "exhausted" when u entered. Even wave 3 1st peak followed this guideline.

So, expecting a w5, earliest break of AIMS box was your best bet.

This "pattern" happens over and over, sometimes in smaller format which does not give us enough range to take profit.

Hope this helps
(If you find this usefull, i can show some additional info on this particular chart which illustrates even the finer fractals in w3 and 5.)
Herbert

day 4 - trade 1.gif

[Topher]

That's a great explanation Herbet.
I just had one of those haha moments when I read it.

Richard