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

[immy]

Have a Great Weekend! Chaos = FREEDOM! Opportunity is Now-HERE

[immy]

Have a Great Weekend! Chaos = FREEDOM! Opportunity is Now-HERE

08-02-2013 14-43-07.png

so you see in the previous post beautiful EW 1-5 completed, now time for shorts....

OK Goodbye again! Started talking to Erik to share what a day I had and saw this damn beautiful Reversal Classic Setup. I took my entry a bit early so I stayed in it until proven wrong. i just took profits above 17.12 green bdc. but it has potential to fall like a crazy thing. and its doing it now. haha.

[immy]

Have a Great Weekend! Chaos = FREEDOM! Opportunity is Now-HERE

08-02-2013 14-43-07.png

so you see in the previous post beautiful EW 1-5 completed, now time for shorts....

OK Goodbye again! Started talking to Erik to share what a day I had and saw this damn beautiful Reversal Classic Setup. I took my entry a bit early so I stayed in it until proven wrong. i just took profits above 17.12 green bdc. but it has potential to fall like a crazy thing. and its doing it now. haha.

[Dave]

A truly inspirational day, Immy. Congratulations! I'm sure I'm not the only one who sees your results and looks forward to the day when I'm completely in tune. After a week away from trading mainly due to work ill have to be extra disciplined to not try to make up for it next week. Thanks for all your posts.

Dave

[immy]

List of The Most Common and Repeated Mistakes Traders Commit Everyday!

1. Entering the market too early, before the market generates a proper Entry Signal
2. Entering too late, long after the market had generated a signal.
3. Exiting a Trade too late, much later than market generated signal. Market made available money but trader failed to pay him/herself.
4. Getting out of Winning Trades too early (very very common) much earlier than market generated signal.
5. Taking a Loss too early, before market generated exit signal. Getting Out on a slightl correction only to see market go that way later.

How many times have you found yourself doing either 1 or all of the above?

ps: The Best Traders Aren't Afraid!

[Darren]

What would be the maximum size box or stop loss you would be prepared to take on EJ Immy?

[immy]

What would be the maximum size box or stop loss you would be prepared to take on EJ Immy?

Normally these days, anything upto even 20 pips is ok for me but it all depends on the market and the price action on that day and the session. Generally the tighter the better but there are times, like post news etc and strong trends, you don't have any option but to take it. And it is for this that I now incorporate ITB, PC, PinBar, or BDC entries so that I can take advantage of strong moves. So if the box is tight, i take the break of the box if the box is big then I find an entry on the bounce of any of the 3 lines, specially the blue line and look for price candle patterns such as BDC, Doji, Inside Bar etc. My fav is BDC that forms within the 3 candles that forms a PC fractal. This is a great way to get into strong trends, with open gator and bigger box. More like buying pullback and selling rallies!

cheers

[Darren]

Great answer Immy. That makes things a little clearer in my mind.

Cheers.

[immy]

The Best Traders Are not Afraid!

[immy]

Belief is a very strong thing. Without belief and correct attitude, its impossible to have confidence. And without confidence there is fear. and fear is the worst state of mind a trader or any one for that matter, can afford to be in. The State of Fear comes right at the bottom of all the human emotions if you can list them as starting from top to bottom where you put all the positive emotions such Love, Joy, Freedom, Appreciation, passion, enthusiasm, happiness, positive expectations at the top and move down towards the bad/negative emotions such as anger, revenge, hatred, rage, jealousy, insecurity, guilt, Fear, grief, depression. FEAR Comes right at the bottom. We as traders, and successful traders, must always maintain a state of mind where we experience, Love, Freedom, Joy, Knowledge, empowerment, passion and happiness. Knowing that even a single shift of a thought can uplift your mood/emotions. E.g. think of a beautiful picture, scenery, a child you love, a pet etc and that will lift your mood. gradually working through to the top until you finally find a state of Joy!

ps: I keep my journal, not to impress others but to keep vibrations/frequency at the top of the list. State of Joy!