AVH Trading Journal

[Grant]

First trades of the day. Both small losers, unfortunately I missed a positive again due to school run, my timing really sucks, never seem to miss the losers only the winners.

Grant your comment about trading the M5 using the M1 has confused me. I understand what you are saying but if i apply that rule there are many trades I would not take e.g. a long trade on M1 when in a 4th wave up in M5. My understanding from reading Immy's most recent posts is to forget all about M5, only have M1 open and simply avoid trading into purple line.

Slightly confused.
Arthur

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Hi Arthur,

we will all have slight variations on how Imran trades and one of mine is if POs are too close to an M5 AIMS level then i will use the m5 level and not the m1 level.

using your trade 2 as an example:

the m1 AIMS was at 1.3906 so if using that my PO would have been at 1.3909. The m5 AIMS was 1 pip higher (1.3910), so in this case i placed my PO at 1.3913.

Many times i have seen price trigger an m1 order then hit an m5 AIMS within a couple of pips and reverse for a rent (loss)..

Of course i'm not saying that this is full proof and it does pay rent like this morning, i used a candle trail and paid -5..

cheers

grant

[Grant]

forgot to mention the short you missed was also an M5 entry for me as the M1 entry was 2 pips above an m5 AIMS level...

cheers

[avh101]

The morning continues. Getting sliced to pieces.

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Immediately after my stop on the 5th trade was hit by a fraction of a pip the price charged off to the south and is currently +25. You could'nt make it up. I'm getting that "the markets hate me and are out to persecute me" feeling.

[avh101]

I'm calling it a day there my head is not in a good place. Not the best start I could have hoped for but it's a learning experience at the moment. For the week my results are:
24 trades in total.
5 winners for 104 pips
19 losers for 120 pips.

Although within this result there are many trades that were missed that would have proved profitable. So there is still much to be positive about and one week is no time to assess anything. Here's hoping next week is better.

Arhtur

[immy]

That is a very good result for first week. if you continue trading like this, I can almost guarantee ou that within the next few months you will become profitable beyond your wildest imaginations! Well Done (wd)

[avh101]

Hi Immy,

Thanks for the encouragement, it has been quite a frustrating week as it could so easily have been very profitable but I managed to miss a lot of good entries whilst soaking up a lot of small losses.

This coming week I am adjusting my strategy due to work/business commitments and I will only trade the NY open to London close. I am going to concentrate on setup 1's and will only consider a setup 2 if I have the 1st trade at BE or preferably with a locked in profit. I am also going to be more conscious of the wider AIMS levels to try and avoid the chop.

Arthur

[avh101]

Mondays Trades:

Trade 1, 12.42, out for BE
Trade 2, 15.36, closed early for +25.
Trade 3, 15.59, closed for -11.

Net +14 for day.

Another interesting day, I was trying to time my trades off the activity on M5 and I got a bit carried away with this and the result was Trade3. Should never have entered so far from initial move on M1. On a positive note I spotted a fantastic setup 1 on Cable and entered, trade ran to +25 before I was spooked out due to a big gap in open/close of candle. If I let it run it was an easy +50.

With my broker the spread on Cable is as tight as the Euro, even EurYen is only 2 pips so I'm going to keep my eyes open for idyllic setup 1's for entries. Could have had a lot more today but still an OK result.

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cable 12_09.gif

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[avh101]

Tuesday's Results:
Trade 1, 11.05, Euro, +19.
Trade 2, 1.15pm, Cable, -12.
Trade 3, 1.26pm, Cable, -5.
Trade 4, 3.32pm, Cable, +25.
Trade 5, 4.49pm, Cable, +21.

Net result +48.

Following on from my last post I started the day quite late due to business stuff and was scanning Euro, Cable & Euryen for any nice setups. I like to trade Cable as it generally has greater volatility and will often move harder than Euro. Similarly Euryen is very feisty, although not as much as the market psycho gbyen but it can still really push hard at times. I could'nt ordinarily trade these pairs on M1 with my previous broker as the spread would kill me but it is feasible with my current setup.

Anyway, it was a decent day, I got into some nice setups, particularly on Cable, which looked great several times throughout day. No stupid trades today, all trades were good, just winners as losers as normal. When in a trade I'm trying to hang on a bit longer and am only going to definitely exit when the red line is breached. This definitely paid dividends today.

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[tmmbabs]

Nice trade buddy, keep it up (wd) (wd) (wd)

[John Wimberley]

Beautiful trades. all done with the rules and making pips. AIMS must be a scam LOLOL