BRIANS AIMS JOURNAL

[Brian]

sorry forgot to attach,
second time lucky :-bd

[Grant]

Hi Brian,

I do indeed use 13 pips as a disaster SL. As soon as the trigger candle closes then I move it to the high or low.

Hope this helps

Grant

[immy]

Richard
Many thsnks for your words of advice, I have read your Journal and am very impressed with your discipline and obviously the results, so i appreciate an experienced voice lending me a few tips,
below are my trades attached for today ,,,total 4 trades for +16.5 pips ,,
i feel that trades 3+4 were not great trades as outlined in the attached, i d appreciate comments from any one on that ,
i have a few questions to ask at this satge
Immy , I noticed in the chat room earlier and also on some of your videos that you tend to place the initial stop loss above the green line rather than on the other side of aims box, is this the case ?
order execdution
grant - you as i understand use 13 pips as a disiater stop loss , immy do you do the same or is it 10 ?

i have been having some problems woith my order execution today , unsure if its the platform freezing or teh order execution , what order executions can yopui reccomend immy ?
many thanks
Brian

Well done on your trades. And I responded to Richards post but seems that either I forgot to click the submit button or something went wrong. anyway, I'd like to say that what Richard says is spot on. I certainly can add anything to that. Wise words

Now your questions.
I use the other side of aims box to calculate my lot size. But after much experience I know that the best setups on m1 are the ones that require no more than 10 pips stop loss I have a disaster SL of 10 pips set in the VE_AIMS EA. I may drag and change the TP (green line) but marron SL line always stays at 10 pips unless I'm trading some volatile periods and my SL has to take into account the current situation. So start with 10 pips, making sure AIMS box is around that many pips roughly as a guideline. once the trade is triggered I bring the SL a big to a spot where i think it will not be hit easily. once the trade survives the early few candles I really dont think about where to put my SL I just keep analyzing what the market is telling me with these things in mind. 1. where is green line in respect of price. if it stretches its distance , pipwise , I may consider trailing ,if its moving parallel to price i will wait for it close on green line or target point is hit. Where are my targets? As I said I don't always use em, but if ther is a significant aims level to the left (by significant I mean where price might have turned around strongly or has turned into some sort of S/R level (I dont like the term SR too much, but it seems to be working for most people and the concept is solid as long as, imo, its bases on price action rather than some mathematical calculations ) Every trade is different because the market is unique.
I also sometimes, depending on the situation, move my SL above the trigger candle. but if the trigger candle is too big or too small i dont do that.

Order settings: my broker allows you to set a PO as long as it is atleast 2-3 pips below/above price. On my pro account I can put PO anywhere. btw 1 pip for brokers with 5 digit quote/price (which is the norm now) = 10. I'm sure you know that but I'll write it anyway. 1.23010 the last 2 digit 10 = 1 pip.

I hope this helps

[Brian]

Thanks Immy +Grant for that explanation, i will have a look at that over the weekend,,
No trades for me today as i had a hospital appointment with my Dad , i just missed the EU trade after 9AM GMT (by a few minutes )which i think i would have taken ,unsure about the rest,,,
Im glad to see most people got that trade
Brian
:-h

[Brian]

todays trades below and weekly summary
all todays trades are attached
commenst as alwasy welcome(good and bad)
have a great weekend all
Brian

DAILY SUMMARY : 3 TRADES , 2 WINNERS , 1 LOSER,,WINNER S +9.5, + 12 ,LOSER -9.3, TOTAL +12.2
Weekly summary :
weeks total : +7.7 pips

[Topher]

Brian

A great result. Getting a profitable outcome is great for the emotions and gives you the confidence to built upon.

Have a great weekend.

Richard

[wiseambitions]

Yes, I think on Friday's there's a lot to be said for quitting the charts by half way through the day if there has been some earlier success.
This afternoon I had a couple trades go wrong for me, and I had to restrain myself from "revenge" mode whereby I might have compounded my risks and still lost.............

Profit is not as easy as it sounds, I often say the only certain winner is the broker! (I doubt they get it wrong very often)

[Brian]

I had 2 bad days despite a very cooperative market , ,On occasion-i seemed not to be at the screen when good trades were available,(this morning and yesterday also),i had some software issues today and i made some bad trade decisions aswell, however- i m Glad to see lots of people doing well in these conditions, My trades have been disappointing and i need to study more and do more real chart time,
this is think is the key to my success at thsi s tage, i find backtesting to be OK but being in teh market in real time especially on M1 is the best practice one could get ,

Which leads me tyo muy next quesytion, Does any one know of a good simulator that i could get my hands on that will show Aims indicators and that can be traded as per real time, But that will show 3 chjarts at a time.,....I think this would be a great tool for beginners and enhance / speed up the learning process,
finally -well done to wise ambitions in particular who is banking the pips with ease,
i hope to join your ranks in the not too distant future,
my trades are attached below
Brian

[Topher]

Brian

See this link for a good way of testing aims. http://www.itradeaims.net/forum/viewtop ... f=22&t=858" onclick="window.open(this.href);return false;


Richard

[Brian]

Thanks Richard
I m having some issues with that startegy testing software , hopefully i will resolve and get it working , it would be a great tool to advance my learning ..
Richard - At what stage do you go to BE ,Is it +5 , i seem to recall thsi when reading your journal ,
todays and yesterdays trades are below, yesterday was a tricky day(range 60 pips) , today was much better , but overall i m still making basic error s on entries and i m not sticking to my MM plan, But this will improve as i go on i am sure, Hope ye all had lots of pips today , there were a few good set ups ,
Brian