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

[immy]

Risk management is the most important factor in trading.

Have you heard of traders "blowing their accounts"?

Have you ever blown an account?

If yes, in this video you will learn methods and techniques to stop that from happening ever again.

I will show you my LIVE TRADES from today and analysis of trades from yesterday and share my Risk Management Plan.

WATCH NOW: Scheduled for 3pm UK 26 June 2020


Chapters
0:00 This video is about Risk Management
0:25 Introduction to this Forex Tutorial - The concept of Daily Stop Loss for Day Trading
2:13 Part 1: Analysis of DAX30 on the 25 June 2020
4:44 An Impulsive Wave 4
5:03 Reversal Trade into New Wave 3 (Stop and Reverse Method)
6:44 A New Wave 1-2 a Trade Long (65 Points Profit)
8:15 A setup 1 short
9:03 Part 2 - Analysis of today's Trades (26 June 2020)
9:51 The Most Important Concept [How to manage risk - 3 Strikes and Out]
12:50 Live Trades with Commentary at the London Open Trade 1 and 2
15:20 Review of the first 2 Trades
16:53 Live Trades with commentary Trade 3
18:56 Review of Trade 3 and Lessons Learnt from it
20:45 Secret Risk Management Rule # 1
22:02 Secret Risk Management Rule # 2
22:42 Secret Risk Management Rule # 3 [Day Traders Beware]
23:55 This is why pro traders never blow their accounts - ever

Hope you enjoy it. And if you like the video hit the like button. Also, make sure you subscribe to the channel.

I have included today's live trades with commentary and how I hit my Daily Stop Loss today.

It happened as a result of a combination of t things. Some due to "adventures" and "bad" luck and lack of discipline. ... but one place I found discipline was RISK MANAGEMENT... NEVER violate that rule

Kind Regards

Immy

[immy]

[immy]

[jag]

Hi Immy,

I trade Banknifty in India, I trade with M1 with M5, now many times I faced one peculiar issue. I see both side TZ1 on long and short side also the W3 on AO also almost same on both side, in such situation hot to figure out which side W4 break line we should take?

Please advice.

Regards,
Jag

[immy]

Hi Jag

Thank you for your question.

When you see a 3 up and 3 down we call this the 3/3 situation. In such cases, the best action is to avoid it. The next thing to do is check the 5XHTF which will clarify to you what is the trend direction. IT is often the case that price might be boxed inside on a higher time frame. but say you're on m1 don't look more than h1 to find out that boxed situation. ON DAX30 e.g. the volatility is high so I would refer to an m5 chart.

The Target Zone one as drawn by Wave is there to help you. it is our job to chose which TZ1 to use. Had you attached some pictures that would have made it a lot more clearer and interesting?

I hope this helps and makes sense if not, let me know I'll have another go at it.

[jag]

Thanks Immy. I will work on this as guided.

Will attach pic if I have further confusion.

Regards,
Jag

Hi Jag

Thank you for your question.

When you see a 3 up and 3 down we call this the 3/3 situation. In such cases, the best action is to avoid it. The next thing to do is check the 5XHTF which will clarify to you what is the trend direction. IT is often the case that price might be boxed inside on a higher time frame. but say you're on m1 don't look more than h1 to find out that boxed situation. ON DAX30 e.g. the volatility is high so I would refer to an m5 chart.

The Target Zone one as drawn by Wave is there to help you. it is our job to chose which TZ1 to use. Had you attached some pictures that would have made it a lot more clearer and interesting?

I hope this helps and makes sense if not, let me know I'll have another go at it.

[jag]

Hi Immy,

Can I request you to grant me access to TradingView AIMS indicators?

Regards,
Jag

[immy]

It's been given already mate... about a couple of weeks ago. actually exactly a month ago

[immy]

I NEED YOUR HELP
COULD I PLEASE REQUEST ALL MY FELLOW AIMS TRADERS HERE TO PLEASE COMMENT ON MY YOUTUBE VIDEOS... AND HIT THE LIKE BUTTON. PLEASE ... MUCH APPRECIATED.

[immy]