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nickderby wrote:Hi Richard,
Your journal makes interesting reading and good to know you're having considerable success. May I clarify something please ?
On the higher TF trading, earlier you've said that you use a fixed SL of 20 pips and then for exits trail and exit on opposite dot.
So am I right in thinking that with your adjusted aims box sizes, some being as high as 100 pips, your SL is definitely NOT the other side of AIMS but very much in the middle of the box ?
Thanks & Best
Nick
Nick
On the HTF I have been using a fixed SL which is something I have never used before and was suggested by Grant. I have got to like it and has served me well to date. When I take an H1 trade most of the time the trade is in a very tight range and the sl is usually outside the aims level although not always.
On the HTF I have recently changed my approach with the SL now been on the other side of Aims. Ironically since I decided on this approach I haven't taken a trade on H1.
Richard
The forex market will pay you well for discipline.
Thanks for the clarification Richard.
So in essence, the trades you've been taking previously have been fixed sl of 20 but have also been tight aims and thus good set ups anyway.
So haven't you taken any GU trades this week as seems they've been very good for H1 ?
My goal is to be patient and wait until the trade jumps off the screen and shouts 'trade me'. I know by using this method I am possibly missing trades, however, my win ratio is good.
Recently my trading window has been very limited due to work comitments. An hour or two in the morning and that's it, and even then I haven't been looking at the charts enough. A day at home today so lets see what happens.
Richard
The forex market will pay you well for discipline.
I saw Herberts remarkable setup 2 trade before and it suddenly dawned on me that I am not taking these trades. Herbert says they are everywhere and when I looked he is right they are. I took this EUR-USD M1 trade for +19pips. Closed it on the black diamond.
What a great end to the day. Thanks Herbert for switching on this particular light. I am now looking forward to next weeks trading even more than usual.
Richard
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The forex market will pay you well for discipline.
Finding time to trade is difficult at present. I grabbed a few hours on Monday and I had a reasonable amount of time today and managed 7 trades and +87pips (+8.7%). For some reason that I am not sure about I have not really looked at the higher timeframes this week which is usually my favourite stomping ground.
As the weeks go by I feel far more settled in my trading and don't go looking for the trades. I just accept what is there and grab it with both hands. Someone once said that when you are trading it should feel like you are cheating the markets. I never really understood that statement, until now that is.
This whole 5 months of trading the Aims system has been a whirlwind for me and it all seems unreal like I am dreaming it. I hope I don't wake up.
Luck = LABOR UNDER CORRECT KNOWLEDGE - Forex Joe
"Nothing wins more than superior research and preparation" AIMS - The art of Trading markets successfully
