Tofy's Journal

[tofy]

Grant,

you mentioned that I shouldn't take the trade when the dot candle break the AIMS level.

(I think Immy also mentioned before that we shouldn't take the trade when the dot candle break the AIMS level.)

But on your 4 Oct 2011 journal's 4th trade (pic attached), you took a short trade on the dot candle that broke the aims level.

May I ask under what situation do we take the dot candle that break the aims level,
and under what situation do we not take the dot candle that break the aims level.

Also, with reference to my trade 5 of the day, you mentioned that the up dot at 1115 is cancelled by the down dot at 1118.
Can I safely say that whenever a red dot appears after a blue dot, the blue dot is automatically cancelled and proved to be invalid?

I'm sorry for the endless list of questions. I'm still feeling confused about certain rules.

Thanks again!

[Grant]

Hi Tofy,

Can you check the date of that trade please, i wanted to check my comments form the PDF before answering you but on the 4th Oct i had only 1 trade and it wasnt that 1.

With ref to trade 5, yes if an opposite dot appears then i always cancel the PO and await a fresh set up.

cheers

Grant

[Grant]

its OK Tofy,

i found the trade comments, its from the 6th October but i never changed the date on the PDF.... oops

I took that one as price had formed and held a sleeping alligator (saddle point) for around 30 M1 candles. Once you get some more chart time watching these set ups you will find that this is very rare. The M1 and M5 also shared the same aims level at the time of entry.. So yes i did bend the exact rules for that entry but again with more chart time you will get a sense of what is going on...

For now i would concentrate on only taking the set ups that follow the rules exactly until you become more confident.

cheers

Grant

[tofy]

-------------------

[tofy]

Hi Tofy

The 11.15 blue dot would be a signal to go long if price broke the level above that dot. Price fell and a red dot occurred, which as Grant says negates the blue dot at 11.15. The next blue dot is above the aims level so I would wait for a new level to form above the blue dot and then assess the situation for an entry.

Hope this helps

Mike

Thanks for the clarification Mike!

[tofy]

its OK Tofy,

i found the trade comments, its from the 6th October but i never changed the date on the PDF.... oops

I took that one as price had formed and held a sleeping alligator (saddle point) for around 30 M1 candles. Once you get some more chart time watching these set ups you will find that this is very rare. The M1 and M5 also shared the same aims level at the time of entry.. So yes i did bend the exact rules for that entry but again with more chart time you will get a sense of what is going on...

For now i would concentrate on only taking the set ups that follow the rules exactly until you become more confident.

cheers

Grant

Thanks Grant!
May I know what exactly does it mean by 'saddle point'?
Does it means a long sleeping alligator?

[Grant]

correct Tofy...

[tofy]

Should I have taken this trade?

One of AIMS rule states that we shouldn't take a trade when the dot candle breaks AIMS level.

However, this turned out to be a +pips trade.

[Grant]

Hi Tofy

set up 1 was invalidated by the candle breaking AIMS, so wqe move to set up 2 and wait for a fresh AIMS level. This formed 2 candles later so a long PO shopuld have been placed above that...

cheers

Grant