PaulF's Journal

[PaulF]

Trade 2, -5.5. Break of 5min and 15min lows, usual result.

aims-eurusdsb-20120216-02.gif

[PaulF]

Trade 3, -4.0. Who'd have guessed? Entry above M5 AIMS.

aims-eurusdsb-20120216-04.gif

[Bettina]

Hi Paul,

I had most of your losses today as well, but for the last trade I remember one hint from Grant.
For Set up 1 he checks the rules at the dot time, but for Set Up 2 they are checked near entry. That would have helped in your last trade, because then Aims Waves was to high already.
Bettina

[PaulF]

-4 etc etc

aims-eurusdsb-20120216-05.gif

[immy]

-4 etc etc

aims-eurusdsb-20120216-05.gif

Hi Paul

The first one,
I had a green dot just around Burnanke's speech time, also entry too far from exit, so filtered. Where you went long was 3rd break of AIMS in that direction too late. The
The 2nd one,
again it was break after 2 fractals on m1 and one on m5, and entry was too far from exit point. so filtered here.

cheers

[PaulF]

Hi

Who's Richard? ) )

Bettina: thanks for your suggestion. Both the entries visible on my last chart there are on the final orange bar of the AO, but I know what you're saying, and the value of 0.0006 to define the orange area is somewhat arbitrary anyway. The orange area on the AO is tempting me to take trades that I would not have taken if I used the original AO still and only took entries on a cross of the zero line. (However, it does alert me to a very static market when the whole bloody thing is orange, as for most of this week...!)

Immy, regarding the first trade of the two on my chart above, you're right, Bernanke was still talking. At the time of the order, the entry point was 14.8 pips away from the bottom of the M1 AIMS chart so I thought that was OK though.... Should I be looking at the distance from the order point to the stop loss, i.e. one pip more than just the bottom of the AIMS box?

On the second one, what do you mean by "after 2 fractals on m1 and one on m5"? Two fractals after the most recent cross of the AO? Entry is above the M5 AIMS level and at that point the lower M1 AIMS level wasn't fully formed, which is why I thought the AIMS box was short enough to enter.... Need to be more careful about that and edit my order placing scripts.....

BobbyF

[immy]

Hi

Who's Richard? ) )

Bettina: thanks for your suggestion. Both the entries visible on my last chart there are on the final orange bar of the AO, but I know what you're saying, and the value of 0.0006 to define the orange area is somewhat arbitrary anyway. The orange area on the AO is tempting me to take trades that I would not have taken if I used the original AO still and only took entries on a cross of the zero line. (However, it does alert me to a very static market when the whole bloody thing is orange, as for most of this week...!)

Immy, regarding the first trade of the two on my chart above, you're right, Bernanke was still talking. At the time of the order, the entry point was 14.8 pips away from the bottom of the M1 AIMS chart so I thought that was OK though.... Should I be looking at the distance from the order point to the stop loss, i.e. one pip more than just the bottom of the AIMS box?

On the second one, what do you mean by "after 2 fractals on m1 and one on m5"? Two fractals after the most recent cross of the AO? Entry is above the M5 AIMS level and at that point the lower M1 AIMS level wasn't fully formed, which is why I thought the AIMS box was short enough to enter.... Need to be more careful about that and edit my order placing scripts.....

BobbyF

Sorry Mate! (rofl)

[immy]

Hi

The orange area on the AO is tempting me to take trades that I would not have taken if I used the original AO still and only took entries on a cross of the zero line. (However, it does alert me to a very static market when the whole bloody thing is orange, as for most of this week...!)

Immy: I AGREE

Immy, regarding the first trade of the two on my chart above, you're right, Bernanke was still talking. At the time of the order, the entry point was 14.8 pips away from the bottom of the M1 AIMS chart so I thought that was OK though.... Should I be looking at the distance from the order point to the stop loss, i.e. one pip more than just the bottom of the AIMS box?

Immy: YES, the slower the market the tighter the AIMS Box you want. when volatility is low then even 10pips could e sometime a huge box :-s

On the second one, what do you mean by "after 2 fractals on m1 and one on m5"? Two fractals after the most recent cross of the AO? Entry is above the M5 AIMS level and at that point the lower M1 AIMS level wasn't fully formed, which is why I thought the AIMS box was short enough to enter.... Need to be more careful about that and edit my order placing scripts.....

Immy: I like what you wrote at the end "Need to be more careful about that and edit my order placing scripts....."

BobbyF

cheers

[PaulF]

Hey Immy

I also have a question on add-ons. If I ever have a winning trade again and am in a position to add onto the position, am I looking solely for a break of an AIMS level? What I mean is, am I also supposed to check that the distance on the new position from the order point to the stop loss isn't more than 15?

BobbyF

[immy]

Hey Immy

I also have a question on add-ons. If I ever have a winning trade again and am in a position to add onto the position, am I looking solely for a break of an AIMS level? What I mean is, am I also supposed to check that the distance on the new position from the order point to the stop loss isn't more than 15?

BobbyF

Hi BobbyF

Well its too early to talk about adding on. If you're not sure, (assuming from the tone of your first sentence) and still not profitable adding on would mean adding on to something thats not really going well. So add if you must, should be left to later. Having said that here are some hints. STart a campain from Setup 1 and if there is a setup 2 soon after setup 1 and you're in profit and not out of your first entry add on using Setup 2 entry.

cheers

Immy