Ed's Audit of Incompetence

[Pushers]

Also, one quick question for you Immy. The Flow Chart say that the AO must be close to the zero line. However, should I only really trade set ups when there as been an actual cross of AO? Or is very close good enough?

[immy]

Batch 1

Trade 9

Wednesday, 9th August 2018 on EURUSD.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator sleeping - check (Set Up 1)
Purple Line inside AIMS box - wrong! So I should not have taken this. This is Set Up 0!
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 2% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade hit 1R, so the SL was moved. Price then retraced before hitting 2R and I was closed out for BE (+2) for a tiny win of 0.19%.

DS0 this time as I should not have taken this trade what with the Purple Line being inside the AIMS box rather than above the Alligator lines.

As a side note, perhaps I should also not have taken this trade because the AO had been flat for a while?
EURUSDM15 T9 09.08.2018.png

Not Setup 1 , both of them

[immy]

Also, one quick question for you Immy. The Flow Chart say that the AO must be close to the zero line. However, should I only really trade set ups when there as been an actual cross of AO? Or is very close good enough?

I have totally revamped the whole dashboard area, as a result of our previous conversations. If that still did not help. I will give up
"Understand the 3-4 Concept" ... there is no 4 without a cross.



The Three Videos that explain the FlowChart and the Dot Colours ...

https://itradeaims.net/amember/content/p/id/3/

Once you watch those. this following video will tell you WHAT IS THE SETUP 1 that we like to trade.

https://itradeaims.net/amember/content/p/id/11/

[Pushers]

Batch 1

Trade 12

Friday, 10th August 2018 on EURUSD.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator sleeping - check (Set Up 1)
Purple Line above AIMS box (for Short) - check
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 1% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade hit 1R, so the SL was moved to BE (+2). Price carried on down and hit my TP at 2R and I was closed out for a win of 1.99%.

DS1 this time as I think all was okay with the set-up.

Comment: HOWEVER, I took this trade (and the next one) before reading your comment above and watching the videos later this afternoon, so I suspect Immy, that you are going tell me that neither one of these was a Step Up 1. The ONLY thing I can think I am getting incorrect is I am going with an AO close not not actually crossing. Otherwise they seem fine to me. Is there something else I am missing because I feel I am following the Flow Chart to a tee otherwise...

EURUSDM15 T12 10.08.2018.png

[Pushers]

Batch 1

Trade 12

Friday, 10th August 2018 on GBPUSD.

Red Dot - check
Dot candle inside AIMS box - check
AO close to zero - check
Alligator sleeping - check (Set Up 1)
Purple Line above AIMS box (for Short) - check
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 1% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade hit 1R, so the SL was moved to BE (+2). Price reversed and I was closed out for a tiny 2 pip win of 0.07%.

DS1 this time as I think all was okay with the set-up.

Comments: As per the previous EURUSD trade, I took this trade before watching the videos later this afternoon. So, perhaps it was not a Step Up 1 as the AO was only close to the zero line, it had not actually crossed. If that is not it, I don't "get" what I am missing, as in all other regards. I feel I am following the Flow Chart as written and on the vids...

GBPUSDM15 T13 10.08.2018.png

[Pushers]

If the AO cross is THE thing I have got wrong, then I will change all my DS1s to DS0s. Its just in some of the older trade examples, AO is often very close but not a full cross. If the rule is now that it MUST cross, then fair enough.

[Tomi]

It's a matter of discipline Ed and being able to follow the trading plan. Cross itself won't mean the possible trade would indicate better profitability or anything like that. Even if it means it, that's not the point. AO cross after big W3 just means that W4 is confirmed, without the AO cross there's no W4. For pure S1 we need W4. If your trading plan states that you wait for W4 with proper AO cross then you wait for it to happen, otherwise the trade will be DS0.

We as traders have a trading plan and follow it to the letter. We aim for DS1 trades. It doesn't matter if other trader gets profits, it doesn't matter if market moves are we don't get trades, or even if we get losses in good moving markets. Only aim for your personal DS1 trades and the profits follow in the long run.

Have fun, hope you get the idea!

[Pushers]

HI Tomi,

Thanks for your comment. No I get it now. Now I understand that crossing the AO is an absolute must, then I shall stick to that. As I mentioned, just a lot of the older live trade vids, pictorial examples and even the Flow Chart itself make mention of close to zero, rather than a total cross.

However, if trading in Stage 1 at least means a full cross, then that is what I shall wait for moving forward.

Thanks again, appreciate it.

[Pushers]

Batch 1

Trade 14

Monday, 13th August 2018 on GBPUSD M15.

Red Dot - check
Dot candle inside AIMS box - check
Recent AO cross - check
Alligator sleeping - check (Set Up 1)
Purple Line above AIMS box (for Short) - check
Tight AIMS Box - check
PO placed below AIMS box - check
Initial SL above AIMS box - check

Initial 1% risk as per my trading plan.

I set a 2R TP and 1R SL Break Even (+2 pips). The trade nearly hit 1R but didn't quite and then reversed and I was closed out for a 1R loss when it hit my Stop Loss with -1%.

DS1 this time as I think all was okay with the set-up.

Comments: Right, I got an AO cross. However, I worry the AO had been flat for too long. Perhaps I should wait for larger waves in the future?

GBPUSDM15 T14 13.08.2018.png

[immy]

Comments: Right, I got an AO cross. However, I worry the AO had been flat for too long. Perhaps I should wait for larger waves in the future?

The above observation has nothing to do with whether you traded setup 1 or not ... Was this a setup 1 or not? if YES DS1 , if no DS0.
Are you trying to "avoid" losing trades? You cannot. why? because the probability of a trade being a positive or negative outcome is random for an individual trade. But if you trade a batch of T20 of Setup 1, the probability is 65% winners.

Trade SETUP 1 ... you will get 33% winners, 33% BE 33% losers with T20 Trade Management (TTM) 1R SL move to Bet plus 1R exit 2R TP. If you go with 1R SL and 1R TP no BE. you will give 80% win rate.

. you cannot do anything about the future... per trade. But you can do it for 20 trades.
the only thing in your power is NOW. Take A Setup 1 in the now. and Calculate your profitability for 20 trades, not each trade.