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

[immy]

EU S1 Setup. This is the setup we wait for. It really does not matter if this particular one makes money or losses. We know that in the long run trading such setups will keep us on the right side of the market. Growing account in steady manner.



pssst: though I think I should have chosen the m5 levels. since M5 was sleeping. oh well.

Rent paid, as if somehow I knew it was going to be a rent. I can sense it from the phrase I wrote above. "it does not matter..." haha



Earlier I went long too. Moved SL to entry level as soon as possible since it was a correction. It was hit a minute before GU news at 9.30am uk.








Edit: and BE out come of above

[immy]

Our indicators and the picture they help paint helps us see things that are not easily seen. When the setup forms, you do not know the future, but it gives you higher odds that there are higher probability of price breaking this side. So you take a calculated risk and wait.

[immy]

Hi

Here is a Double AIMS Setup that we all should have caught. I missed the earlier long by a minute and a half. haha. but this one appeared in NY session. Hope Darren and Grant both got it.

[Darren]

Nope - missed that one Immy. The Kids broke up for half term today at 12 o'clock so I took the afternoon off. Oh well, next...

[immy]

Nope - missed that one Immy. The Kids broke up for half term today at 12 o'clock so I took the afternoon off. Oh well, next...

Oh well! there will be more but this one is surely gone. Have a great weekend and thanks for the reply.

Cheers B-)

[immy]

New Entry Criteria for Pink and Green Dots:
Edited: 30/03/2014 Pink and Green Dots, Dots that Break AIMS Level. According to the flow chart, we wait for a fresh aims level but there are 2 more ways we can trade such dots.

1. PO above/below 2nd AIMS Level to the left. Trade a level to the left if price breaks out and closes out of the aims level but there is another aims level to the left available which is not too far and entering on that level would still NOT require more than 10 pips SL (for m1, for other time frames we would look at what's the most appropriate maximum stop loss level for that time frame and/or pair).
2. Market Orders: If the Candle that broke aims and has dot (pink for shorts and green for longs) closed below and price is still near the levels where we would make our entries, e.g. if price is still around price had it closed inside box and we would put our PO 1pip below (shorts) or 1 pip above plus spread (Longs).

Example 1
AIMS level 1.39273 for this pink dot was already too close to the next (2nd) aims level 1.39260 to the left so even if it was a red dot we would have put our PO below 1.39260. So here we may put our PO below the second aims level to the left after we have pink dot. In this example we see red and blue dot. Which means we would have had a Sell Order then cancelled by Blue dot and we would put a buy order which would then be cancelled by this current pink dot and we would have hit a nice short trade. Current pink dot rules would have not allowed a trade here.



Example 2.
Here we have a pink dot which broke aims level but closed inside the box. We see that current aims level 1.39218 is only 2 pips away from second aims level to the left 1.39191. So we can easily put PO below 1.39191 and our SL level would still be within the limits.
http://content.screencast.com/users/iTr ... 0_1137.png

Example 3.


Example 4.


Example 5.


Example 6.

[immy]

Here is another example of H1 M15 pattern.





A fantastic Wave 5.



USD/JPY Same Story

[immy]

Today EU Strategy. it was nice. LO nice breakout spot on at 8am uk. lovely trade. Small pips but good.

LO Trade
Start


End



NY Open provided another opportunity into wave 5 up. Done for the day. or atl east until 3pm US news.

NY Session Wave 5 trade.

Start


End

[immy]

How big is 4% Edge over the market?
What does 55% winners mean to you?

How big is the edge? Did you know Casinos always make money? in the millions and billions? How much edge do they have over the players? You might have heard or read that they have only 5% edge. That actually means that they win 55% of the time, where as people win 45% of the time. Now imagine, when the Americans have spent 100 billion dollars, yes 100 billion dollars each ear how much do these Casinos make off them? (not counting the hotels and other services offered)





And a 54% win rate, that is 4% edge could mean , you can Turn a $1000 account into $196,986. Yes, thats 19,698% yes thats 19 thousands 6 hundred and ninety eight percent. Check this robot's performance. It turned 1000 into 196 thousands. nearly 20 thousand percent. Now check the following figures from the following image.

1. Turned 1000 into over 196 times.
2. Check the amazing figure, average daily gain. How much is it? Yes just 0.5% which allowed for
3. Check the monthly gain figure, average monthly gain 16%.
4. It took 3 years. The next 2 years are really worth checking.



Now check THIS AMAZING FIGURE HIGHLIGHTED IN RED BOXES.

1. Only 4% Edge. The system gave 54% wins and 46% losses.
2. Risk Reward Ratio of 1:1.48. Meaning for every dollar lost, they made 1.48%. Not much is it? Oh no, thats a hell of a good record.
3. only 6.68 pips average win. ONLY. (when i traded in and out during 2010 mostly, my average win pips were 15pips and average loss was 6.98pips, it was great time)



So, what do you think? Great isn't it. Well, let me tell the MOST important bit of this "research". The entire 3 years of trading was done on only one pair? Which pair do you think it was? Ofcourse the Good Ol EUR/USD. Yes, all 3 years only EUR/USD.

So let me tell you now. If you trade EUR/USD M5/M1 strategy using the Flow Chart, like Grant, you will hit 10-15% a month, you will hit an average winner of 10-15 pips and average loser of 5.-7.5 pips. You will have 10% edge, yes that is 60% success rate. You do the math! You have a very good system in your hands, let it work for you by Trusting it 100% and being Disciplined.


Whats more? If you go through the initial stages of trading, Trading EU m1/M5 and achieve the above, you will enter the competent level. Now imagine if you started adding on. The sky is the limit. After adding on your average win will jump to over 25 pips and average loser will stay the same. its amazing.


(Important Warning: I do not intend to promote this robot, i do not benefit from this and I certainly DO NOT recommend it. Its a demo account, and it really does not work on most real accounts and if it does, it have variable results, not nearly as good as the demo account. This example is merely to show that a mere 4% edge can give you huge returns)

[immy]

Today EUR/USD it was a matter of waiting. And suddenly I had to leave chatroom urgently to go somewhere. As I was leaving I saw this. I put 7pip SL and entered two trades. I though I'll let the EA (beta version) do tis thing. But it made a mistake. A blessing in disguise. The EA was suppose to close one trade and let the other run but instead it close one for 20 pips but only half lots. now I have 1.0 lot and 0.5 lot two trades running. Total over 100 pips now with 88 locked and 20 pips banked already. what a day.



and update



Yes, its not easy but not if you have patience and discipline...


updated 15.42 pm. YD Sneaky H1 Trade... sorry I did not discuss it in the chatroom because its my "unorthodox" style which I don't think is easy for beginners.