Ed's Audit of Incompetence

[immy]

Batch 1

Trade 8

Wednesday, 8th August 2018 on EURUSD.

Red Dot - check
Dot candle inside AIMS box - check
Alligator open - check (Set Up 2)
Purple Line above AIMS box (for Short) - check
PO placed below AIMS box - check

Initial 2% risk as per my trading plan.

The trade initially went in my favour and then reversed and hit my original SL for a 1R (or 2%) loss. Next!

DS1 though I believe as I followed the rules for Set Up 2, it just was a "rent". Please correct me if I am wrong in your opinion.
EURUSDM15 T8 08.08.2018.png

The Simple fact is that its not a trade setup you should trade. You should be in Stage 1. and in stage 1 you should trade Setup 1 only. Jasmien still trades Setup 1 only even though she's in her 21st Batch. This is NOT a setup 1. Please watch the flow chart videos and setup 0-1-2 video

cheers

[Pushers]

Ah thanks Immy. I was literally just about to ask that while working my way through some of the older forum posts, I came across this video - http://www.itradeaims.net/forum/viewtop ... 7629e8ad73

In it, it is stated newbies should only be trading Set Up 1, not 0 or 2. Is this rule still in effect? Should I stop trading 0's and 2's?

You have answered that for me. So only Set Up 1s then. Got it.

You know I looked and looked for the Trade Management stuff and DS stuff in the Dashboard you mentioned but could not seem to find it. I will keep looking. Is it Grant's trade management rules you mean?

[immy]

That is NOT older forum. That is THE VIDEO you're supposed to watch.
I've given you Trade Management in a post above.

below is a screenshot of the dashboard...

Point 4 says to watch the flowchart videos... the link takes you to the videos....
Point 5 says to make sure you know the difference between setup 012 and gives link to the video...



IF you scroll down on the same page, it says, "objective of Stage 1" To Trade 5 Batches of T20 using Setup 1 only.

https://itradeaims.net/amember/content/p/id/10/

[immy]

That is NOT older forum. That is THE VIDEO you're supposed to watch.
I've given you Trade Management in a post above.

below is a screenshot of the dashboard...

Point 4 says to watch the flowchart videos... the link takes you to the videos....
Point 5 says to make sure you know the difference between setup 012 and gives link to the video...



IF you scroll down on the same page, it says, "objective of Stage 1" To Trade 5 Batches of T20 using Setup 1 only.

https://itradeaims.net/amember/content/p/id/10/

Screenshot below shows that if you click on the Resources tab you'll find the trading plan template and T20 Principle Section.

[immy]

Pssst: I have reorganized the dashboard and edited the Stage 1 and Stage 2 pages. please have a look again.

[Pushers]

Hi Immy,

I now realise the reason I couldn't find all that I needed was my old subscription was just for some areas of the forum. I have paid up a new membership, and can now see what you are referring too. Phew! Will modify my trade plan and trade management accordingly, now I know exactly what I am supposed to do!

[Pushers]

Batch 1

Trade 9

Thursday, 9th August 2018 on EURUSD.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator sleeping - check (Set Up 1)
Purple Line inside AIMS box - wrong! So I should not have taken this. This is Set Up 0!
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 2% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade hit 1R, so the SL was moved. Price then retraced before hitting 2R and I was closed out for BE (+2) for a tiny win of 0.19%.

DS0 this time as I should not have taken this trade what with the Purple Line being inside the AIMS box rather than above the Alligator lines.

As a side note, perhaps I should also not have taken this trade because the AO had been flat for a while?

EURUSDM15 T9 09.08.2018.png

[Pushers]

Batch 1

Trade 10

Thursday, 9th August 2018 on GBPUSD.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator sleeping - check (Set Up 1)
Purple Line above AIMS box - check
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 2% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade hit 1R, so the SL was moved. Price then retraced before hitting 2R and I was closed out for BE (+2) for a tiny win of 0.19%.

DS1 this time as I think all was okay with the set-up, simply price did not make it to 2R this time. Am I wrong?

GBPUSDM15 T10 09.08.2018.png

[Pushers]

Batch 1

Trade 11

Thursday, 9th August 2018 on EURUSD.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator sleeping - check (Set Up 1)
Purple Line above AIMS box - check
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 2% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade hit 1R, so the SL was moved to BE (+2). Price carried on down and hit my TP at 2R and I was closed out for a win of 3.29%.

DS1 this time as I think all was okay with the set-up.

Edit: I have just read the part about the TZ1 must be 2R from the open of the trade or one shouldn't take the trade. Ah. So should I score myself DS0 for this, even though it happened to work out for me this time? Same applies to my last two trades actually.

EURUSDM15 T11 09.08.2018.png

[Pushers]

Note: at this early stage, I have decided I shall change my risk parameters from 2% down to 1%. I shall only move back up to 2% once I consistently have more winners than losers AND I have DS scores consistently at 90% or better.