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Topher wrote:Had the full day from 6:30 until 16:30 UK time looking at the charts.
Elliott Wave has been causing me some confusion and was compounded by the new eWaves indicator. So today I have concentrated on understanding what this is all about and I believe at last it is starting to sink in and I am beginning to see the power this can bring to my trading.
I caught part of the nice moves this morning. In total I took 3 M1 EUR-USD trades to give me +24pips (+2.4%).
The weeks trading has been very good to me giving a total of +123pips (+12.1%).
Hope you all have a great weekend and look forward to another pip filled week.
Richard
An Excellent result for a week. Most businesses cannot make 12.1% in a year! I send my best wishes, positive vibes and pure intentions of love and prosperity!
Well Done and keep it up
Have a Great Weekend
cheers
Immy
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.
Well that was definately a month of two halves. The first two weeks created a lot of trades on both M1 as well as H1 & H4 while the second half produced very few. I ended up with +733.6 pips (+46.4%) for the month which is slightly higher than barclays are giving me on my savings account at present!!!
The number of trades I have taken this month has increased greatly mainly due to increased screen time and also due to me been more confident with the system. I have adopted a tighter TM approach recently where I am moving my sl to b/e after +5pips. What this has done is to halve my average losses, however, on the flip side my average winnings are more than half what they were. It has also given me 7 b/e which I haven't had before. However, what is more important to me is that I am much more relaxed in my trading now.
Have a great weekend.
Richard
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The forex market will pay you well for discipline.
Managed to get in two full days and two first hour of London open screen time this week for +45pips (+3.5%).
The frustrating thing is that all these trades came on Monday with the rest of the week just sat on my hands. Although frustrating at times i am happy with my week as I feel I am getting better at maintaining my discipline and only taking trades that meet the criteria. I attribute this to the countless hours of backtesting that I have done over the past few weeks, this has really enforced in me that the good setups are worth waiting for.
My trades this week consisted of:
+25pips (+2.5%) M1 EUR-USD +5, +13, +1, +6, 0
+20pips (+1%) H1 AUD-USD
I won't be trading Friday or Monday due to the holidays so I hope you all have a great (extended) weekend.
Richard
The forex market will pay you well for discipline.
Topher wrote:Well that was definately a month of two halves. The first two weeks created a lot of trades on both M1 as well as H1 & H4 while the second half produced very few. I ended up with +733.6 pips (+46.4%) for the month which is slightly higher than barclays are giving me on my savings account at present!!!
The number of trades I have taken this month has increased greatly mainly due to increased screen time and also due to me been more confident with the system. I have adopted a tighter TM approach recently where I am moving my sl to b/e after +5pips. What this has done is to halve my average losses, however, on the flip side my average winnings are more than half what they were. It has also given me 7 b/e which I haven't had before. However, what is more important to me is that I am much more relaxed in my trading now.
Have a great weekend.
Richard
Congratz Richard very nice results. I m inspired from u. Lets hope same for us :-bd
Richard your results are fantastic what most traders dream of - Are you sticking exactly to the AIMS rules on all your T/F or are you doing anything different, I would love to emulate what your doing here and you dont even trade full time!
I only trade the Aims system with the indicators provided by Immy. The only addition I have is a very simple indicator that tells me the spread and candle time. As each week goes by I am finding that my discipline is improving which enables me to wait for those setups I am 100% happy with.
I don't trade full time and don't intend doing so, at least not for the foreseeable future. I feel that having a day/afternoon away from trading or whatever my job (wife) dictates keeps me focused.
I don't do anything special. I simply follow the rules, stay disciplined and take what the markets offer.
Richard
The forex market will pay you well for discipline.
