Immy's Corner [The Setup The Hunt - T20's and more]

[bgbearnavy]

The Spirit of Sharing is Alive as Ever! thanks Bgbearnavy! (whatever it means) (party) 8-}

BG - mean "big"

BEAR - my nickname in school

NAVY - Spent 25 years in the Navy as an Officer

[immy]

The Spirit of Sharing is Alive as Ever! thanks Bgbearnavy! (whatever it means) (party) 8-}

BG - mean "big"

BEAR - my nickname in school

NAVY - Spent 25 years in the Navy as an Officer

I did guess teh bear and navy bit... so now I know what BG is haha... Ahoy! Sailor! So you're sailing the AIMS Waves now! happy sailing my friend!

[bgbearnavy]

Really tough day.....

[immy]

The Best Way of Trading is to Choose a Rigid Stop Loss based on Market Generated Information and Letting the profits run by following a Trailing Mechanism such as the gator lines and/or aims levels or price levels or a set jumping criteria in increments of price levels. Which ever you chose let the Stop Loss be where it is when taking a loss. Never Ever increase your potential and/or predefined risk and keep finding excuses to let it run until you hit most of the available pippage within a wave. The number of pips will surely depend on your time frame and pair.

But Remember

"Watch Profit Taking Opportunities carefully, but RUN like a deer at the first sign of adversity"
"Seize opportunity, but hold your ground in adversity"

People often gamble at taking losses and take sure profits instantly.
In trading it has to be the other way round. Take sure loss and gamble on taking profits but with odds stacked in your favor.... So it means
Always Pre-Define the risk of every trade and fully accept it. First you must know it. KNOW your potential risk for the trade and then fully accept it. It means that once you enter the trade tell yourself. That money is gone. Its not coming back to me and I have willingly spent it on this trade to find out if I am going to double or quadruple it. So this will take care of your mind that keeps forcing you to protect your initial risk that you willing undertook. Remember also that knowing your risk and fully 100% accepting are two different things. Most traders don't know their risk and the rest of it don't really accept it. They think since they know it then they accept it but that is not the case. So find out if you really accept that predefined risk or not. After that once you've accepted the predefined risk you will not have any anxiety you cannot do anything until you see a profit taking opportunity. If the market moves too fast and makes money available to you which more than 1:1 of your predefined risk take it. Or take half of it and let the rest of it run. We should really be looking for "Infinite Yields". We should find ways to let it run as much as possible. E.g. you take a trade early in the morning which is in direction of higher time frames e.g. even m15 and h1 are in that direction you take that 1:2 half profits e.g. and then just let it run by managing it on higher time frames till the end of the day. That would be infinite yield for a day trader. All pros let it run. The statistics of trading just don't allow you to keep scalping little pips again and again. Its stressful for most of us. If you learn to enjoy being in a profitable trade and just allow it mature your life will change.

[bgbearnavy]

Now taking it the other way.... Lucky overnight trade

[immy]

A couple of last minute trades before the Weekend Begins!

[tmmbabs]

A couple of last minute trades before the Weekend Begins!

So professional in your doing, Well done Brotherly..... (wd)

[bgbearnavy]

Calling it a day

[Bettina]

A couple of last minute trades before the Weekend Begins!

Thanks for thinking of me and the "For Bettina" - trade ! You probably have seen, that I took it !
Nice Sunday !
Bettina

[tmmbabs]

Immy Can you please send me AIMS V 2.1 Entry Alert indicator, using V5 at the moment but I need the V2.1 for my Exit. need an alert for my exit and i will prefer V2.1 which is not in the downloading section, or you can send it to my email.. tmmbabs@gmail.com .

Thanks