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

[immy]

Live Trade Picture



Result of above in picture at the bottom (1)



Result of above (3) in picture below

[immy]

A lovely day started with a lovely Dax Trade. First it tried to break down at London open that was actually the P5 on m1, or lets say a PC on m5, or simply abc correction on m5. ON m1, if you took it you'd have taken a quick rent followed by a reversal of position and going long for 20 or upto 45 pips.
I took 25, i'm a bit unhappy that I should have trailed candles which would have added a further 15 pips to it. But I'm grateful.

[immy]

A Perfect Setup based on AIMS Concept as per the book The Setup

[immy]

Cable Good trade today, Famous for Tomorrow

[immy]

AIMS Stress Free Trading stands for the ability to find higher probability setups without stress involved save the necessary amounts of anxiety and stress required for peak performance. The concept of AIMS is this below. We want to have a probabilistic mind set, that The Setup is your edge in your market. That we don't make money by predicting the future and that its not necessary to do so. What's necessary is the ability to Find the Setup in THE NOW MOMENT of opportunity. This concept here relieves the human beings natural reason for generating stress. Stress = We want to be somewhere else but we are not there yet.

Today a lovely example of such setup. Aussie Dollar 3 Charts

I explained this many a times but I love doing it. The essence of AIMS on any time frame is this. This here pointed with red arrow is the spot that gives us a High Probability Setup. and Remember our Definition of HPSetup is "Breakout in the direction of higher time frame trends". Watch t his H1 trend. it breaks out of this range marked with purple line. and comes back to retest that level. Creates a very small Buddy type candle. Here you drop to M5 if you do H1/M5 style or drop to M15 if you're following Famous and H1/M15 style of setups. This is a bit like Alexander Elders 3 screens but I think this is better and simpler. (Respect Sir Alex... )

[kooky]

Immy, it looks Fantastic,and it is Fantastic,after the event,but I'm afraid the odds of someone like me spotting this on the Right chart, on the Right day, at the Right time and hoping to make a dollar are a 100/1.
I look on as always in sheer envy and dismay.
kooky

[immy]

Immy, it looks Fantastic,and it is Fantastic,after the event,but I'm afraid the odds of someone like me spotting this on the Right chart, on the Right day, at the Right time and hoping to make a dollar are a 100/1.
I look on as always in sheer envy and dismay.
kooky

Yet I have never seen you in the chatroom... get off your sorry arse and work hard...

[immy]

Immy: I learn more and more things about the market every week, and years ago i thought i knew enough haha... its never ending. like this Density concept really dawned at me when the volatility died and found out how the higher time frames suddenly become more connected and relevant to our chosen time frames. the low the volatility the higher the X multiple .... i hope it makes sense. 11:08

Immy: when a pair moves 150 pips on average m1/m5 are connected, a pull back on m5 creates a nice S1 on M1, m15 is still ok but h1 becomes to high a time frame. you start seeing proper completed waves up and down within 1 h1 candle, with low density chart, (less ticks per candle) even an h1 candle does not create a proper count on an m1 chart... this understanding is vital but i don't know if I can explain it properly. 11:10
Immy: and then there is Kooky 11:10

Immy: you've got to understand how the charts move, and Elliott Wave theory is one of THE BEST way to understand this. you've got to understand that the universe by design has this quality/characteristic build into everything that exists that it has an UNDERLYING STRUCTURE and market has one too. So anything that you observe in life, has an underlying structure and you gotta learn what that is. it helps you in your life wherever you are, relationships, business, finance, health etc etc.

I remember very well when nasdaq was showing a setup on daily Last month May in fact. and no one believed it. had anyone taken that, they would be sitting on some GREAT amount of profits... or the h1 trader would keep trading it again and again 11:17

Immy: but if the H1 traded did not know the structure of the market he;d be getting good trades, the impulse wave 3 up and then giving it all back during Wave 4s and getting frustrated 11:18

Immy: so the point i'm making is, even if the trend on this Nas100 has been clearly up and as clear as daylight there would be thousands of traders who would have lost money. 11:18

Immy: Had they used the understanding behind the theory, the eWave theory that the market has a structure. 11:19

Immy: they would know when to trade and most importantly when NOT to trade.


H1 Chart Going Strong in the direction of D1 Chart

1.png

2.png

What do you do at the end of a strong Wave 3? How long would the next wave 4 be?

3.png

So, you see in this zoomed out chart, after the 4 lovely opps and 7 days of Wave 3, there was time for market the "take a breather" "consolidate" "create sideways range" all the names for what we know as WAVE 4 . Here we see 4 days of Wave 4 , or shall i call it 4 days of hell/torment for a trend trader who was unaware of the STRUCTURE OF THE MARKET?

4.png

PS: if even if you end up paying rent during the damn wave 4 ,if you followed your Money management correctly and kept your average losers/rents twice as small or lets put it this way, if you kept/managed your average winners twice as big as your average losers during wave 4's you'll end up victorious in the end. Moty's trading during June 2014 is an example. He managed nearly 9% growth even though his win rate was only 40%. This is the sign of real trading account. Most trend traders have similar success rate yet they grow their accounts on a month to month and year to year basis consistently.

there is no magic potion or mathematical formulae that can stop you from paying rents but when its time to Collect pips don't be impatient and allow the market the enrich you. allow the wave to give you what it wants to give you. dont cut the supply short. Let it be and let it be.

[wiseambitions]

Please Immy be good enough to provide the link to video "How to trade the arrows". Presumably it is premium section

Ray

[immy]

Please Immy be good enough to provide the link to video "How to trade the arrows". Presumably it is premium section

Ray

Ray
Its not in Premium section rather in the Basic Video Tutorial Section. Anyone can access it.

http://www.itradeaims.net/forum/viewtop ... 7471#p7471