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oldiebutgoodie wrote:Something must have spooked NY as traders were still active after lunch as they drove price back down again. Unfortunately I wasn’t at my computer to catch the start of it but did watch and saw price stop within 1 pip of the eWave 61.8% target.
Since then, of course, the projections have changed but I have tried to reproduce it as best I can.
If the eWave is going to be as accurate as this, then I am going to pay much more attention to it.
Well done SNorm!
Glad you like the indi, Robbie. Well done on the journal posts ... gain, no pain
:-B
This will be my last post here as getting up early to mess around with M1 & M5, Gators and Boxes for a measly handful of pips is neither worth it, nor is trading, in my book.
Since I believe EUR pairs will rally from here, I have just gone flat and closed the following trades on EURAUD.
More than a year's salary for most people in 44 days.
This took me less than 5 minutes each day after New York close so a total of 75 minutes.
This equates to 8594/75 = 114.5 pips/minute which is IMPOSSIBLE on M1 & M5 time frames plus it is 100% STRESS FREE and I have all day to do nothing except walk by the beautiful Pacific Ocean.
Good luck and God bless.
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WD on the great results from the daily TF, before you disappear could you please answer a quick couple of questions please...
1. What was your average initial risk on your positions
2. What was overall % gain....
As i'm sure you will agree there are many ways to skin a cat so saying gator/boxes on the lower TFs is not trading is IMHO a tad disrespectful verging on rude to those of us that have developed this system (which can be traded on any TF) to a point where we are consisitantly producing good % returns per month. Most hedge fund managers are considered outstanding with a 20% return per year.
anyways you have your opinion and i as you have read have mine....
many thanks in advance for your answers and good luck in your proper trading..
That was a nice trading campaign. Waking up for smaller time frames in the middle of the day is surely a hard thing to do. With such results you don't really need to do that anyway.
If defence of what we do and love to do I'd like to add that our system can be traded on any time frame. There is no restriction on anyone. In the book I explained how I trade EUR/USD on M1/M5. This method has been traded on higher time frame before I started on lower time frames so there is nothing to prove there.
Yes, lower time frame involves screen time more than the Dailies. The higher the time frame the less screen time. The lower the time frame the more screen time but there are advantages and disadvantages attached. E.g. people with smaller accounts cannot trade higher time frames, moreover it would take them years and years just to learn the basic structure of the market trading the daily charts. Comparatively if you spend a few months on lower time frames you'll gain a lot of experience and then you can move on to bigger time frames as the account grows. But if someone would like to start trading off Dailies or 4 hourlies they can do so even with a 5K account. Its all individual preference. You might enjoy the pacific ocean while I love the charts, the action on lower time frames, perhaps may be more than you like the pacific ocean. I can go on...
But here is a picture of the same trade using our template. Anyone could have taken this Double Arrow and added on as the trade progresses, or the red dot below the Gator's mouth.
But you did well. Well done on that. Its all about percentage gain on your account. On a Daily time frame you'd need at least 200-250 pips stop loss on that. Had you taken each entry with 250 pips stop loss at 1% risk you may have raised your account by a considerable %age with 15 entries. Adding on has its own demerits too which I'm sure you know. e.g. when you're fully loaded and something happens etc etc. Scaling-in to position is my favourite bit in trading as it really increases your return on investment. However it can be done on lower time frames too.
Good Luck with your trading and have fun.
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What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
Its interesting that the double arrow and red dot coincided with a retest of the trendline and a pending order on the break of the fractal would have resulted in about 40 pips sl, from there you would not have looked back. A cracking trade all the same.
Shame to see you go as some of us would have loved to have learned from you Robbie.
I have read your last post now many times and just cannot see the point or purpose of it other than an intentional attempt of invalidation of my Friends and their excellent works here at AIMS.
It is sad to see your presence ending in Robbie's pain.
I leave below an article quote from one of my favorite reads.
Herbert
Clean Hands Make a Happy Life.pdf
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Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation" AIMS - The art of Trading markets successfully
Dear immy,
Please let me know why would we take the trade against pur. line here? Any thing we can see on the chart?
Thanks.
BR
Saša
immy wrote:Robert
That was a nice trading campaign. Waking up for smaller time frames in the middle of the day is surely a hard thing to do. With such results you don't really need to do that anyway.
If defence of what we do and love to do I'd like to add that our system can be traded on any time frame. There is no restriction on anyone. In the book I explained how I trade EUR/USD on M1/M5. This method has been traded on higher time frame before I started on lower time frames so there is nothing to prove there.
Yes, lower time frame involves screen time more than the Dailies. The higher the time frame the less screen time. The lower the time frame the more screen time but there are advantages and disadvantages attached. E.g. people with smaller accounts cannot trade higher time frames, moreover it would take them years and years just to learn the basic structure of the market trading the daily charts. Comparatively if you spend a few months on lower time frames you'll gain a lot of experience and then you can move on to bigger time frames as the account grows. But if someone would like to start trading off Dailies or 4 hourlies they can do so even with a 5K account. Its all individual preference. You might enjoy the pacific ocean while I love the charts, the action on lower time frames, perhaps may be more than you like the pacific ocean. I can go on...
But here is a picture of the same trade using our template. Anyone could have taken this Double Arrow and added on as the trade progresses, or the red dot below the Gator's mouth.
But you did well. Well done on that. Its all about percentage gain on your account. On a Daily time frame you'd need at least 200-250 pips stop loss on that. Had you taken each entry with 250 pips stop loss at 1% risk you may have raised your account by a considerable %age with 15 entries. Adding on has its own demerits too which I'm sure you know. e.g. when you're fully loaded and something happens etc etc. Scaling-in to position is my favourite bit in trading as it really increases your return on investment. However it can be done on lower time frames too.
This isn't a trade against the purple as the sell level for the entry is below the AIMS low, which puts the purchase order and entry level below the purple, therefore for the sell to be triggered the price must move below the purple and AWAY from the purple line. i.e. don't take an entry where the trade needs to go TOWARDS purple to be successful.
The purple is the red line of the higher time frame. i.e. if you are looking at the purple on the M1 it is equal to the red of the M5. Therefore this comes back to the old saying "don't feed the alligator". Always take an entry that is moving out of the alligator's mouth. So an entry moving away from the purple line on the current time frame is an entry moving out of the alligator's mouth on the higher time frame.
Ok. Thanks dave,
It was my understanding that the whole setup has to be alredy bellow the price from the start.
BR
Saša
Dave wrote:Hi Sasa and welcome to AIMS,
This isn't a trade against the purple as the sell level for the entry is below the AIMS low, which puts the purchase order and entry level below the purple, therefore for the sell to be triggered the price must move below the purple and AWAY from the purple line. i.e. don't take an entry where the trade needs to go TOWARDS purple to be successful.
The purple is the red line of the higher time frame. i.e. if you are looking at the purple on the M1 it is equal to the red of the M5. Therefore this comes back to the old saying "don't feed the alligator". Always take an entry that is moving out of the alligator's mouth. So an entry moving away from the purple line on the current time frame is an entry moving out of the alligator's mouth on the higher time frame.
