Michael's (zlabis) Journal [The Magician]

[immy]

Michael, switch to m5 using Fruit, I think you're trading a bit too much. What you should be looking for is a 1 decent campaign per day not that you start trading like a robot. IMHO. You know best.

[zlabis]

Thu. Nov. 6, 2014

Screen time 9:00 - 11:00 a.m. (GMT+1)

Thank you Immy for your effort, commenting my postings.

I didn't take a trade today and was just observing and studying charts and thinking about which time frame and setup combination I should trade. Due to the fact, that I tend to overtrade fruits on M1, switching to M5 or even higher TFs and/or returning to plain S1/S2 with M1/M5 split screen is to be considered. I'm not quite sure yet because, before I started trading fruits as my main signal, I felt already very comfortable with S1/S2 on DAX M1/M5.
Although I have already signed a standard account at GKFX and funded it with a starting amount, I'll stay on demo account until I've found my way through AIMS setups and time frame combilations to feel comfortable again.

There's a challanging way in front of me and I have a lot to study and to learn the next days and weeks, but with all the support here in the AIMS group, I'll finally make it ;-)

[zlabis]

Fri. Nov. 7, 2014

Screen time 9:00 - 11:00 a.m. (GMT+1) M1/M5 DAX only

As I've written here yesterday, I have to make further studies. For today my plan was to focus more on S1/S2 and really obviouse fruits on M1/M5-split screen. Furthermore I planned to handle my exits more strictly according to main exit strategy.

Trading conditions after LO were not that easy except of trade 1.
All 4 trades were based on grounded assassments and trade 4 with additional ungrounded assassment (break of trend line). Therefore the result is ok to me.

+ 24 Pips, rather hard earned today ;-)
(this template is printer friendly and I just use it for output and documentation. While trading I still use the darker template which is more eye friendly, IMHO

[zlabis]

Mon.+Tue. Nov. 10.+11., 2014

Screen time 9:00 - 11:00 a.m. (GMT+1) M1/M5 DAX only

Watched charts without trading. Am still testing with Simple Forex Tester and Forex Tester 2. I've got the impression that I slowly get a feeling for fruit entry mechanism. For me, I need M1 and M5 chart side by side to tell in which wave we are in and the support of Fibonacci retracement/expansion to evaluate if price action/fruit appears at important levels. This is important for entries as well as for exits. Furthermore I switched back to standard AIMS chart template to have familiar environment.

Tomorrow I'll start trading demo account again. Let's see how research of the last days have an effect on my further trading.

Thank you guys for your support in the forum here and in the chat.

Michael

[zlabis]

Wed. Nov. 12, 2014

Screen time 9:00 - 11:15 and 11:45 - 12:15 (GMT+1) M1/M5 DAX only

Trade 1 was right after LO after AA which I missed, so entry was a little bit late after red dot and break of double AIMS M1/M5 - this was start of w3 on M1 and M5.
Trade 2 and 3 was in wave 4 of both TFs. With T2 I thought to catch w3 on M1 and w5 of w3 on M5 but it tourned out to be b-wave on M5 so small rent.
With Trade 3 I wanted to catch c-wave what I actually did but had to close the trade manually at a very unfavourable spot because I had to leave due to a meeting.
Trade 4 was a nice catch of w5 on M1 and M5. I could have exited later at that trade but it was still ok.

Result of the day:

+ 30 - 19 +/- 0 + 60 = + 71 Pips

[zlabis]

Thu. Nov. 13, 2014

Screen time 9:00 - 11:00 (GMT+1) M1/M5 DAX only

At LO price formed a nice spikey fruit which I took. It tourned out that some chops in a wider range was following. I exited with a small rent. After some minutes ranging, I picked the dreakout of this large 16 or 17 Pips wide box and added on.

Both initial entries had some slippage (1.3 and 3.5p) on my GKFX demo. Hope it doesn't occure when I'm switching to live account.

Result of LO session:
- 16 + 31 = + 15 Pips ;-)

[zlabis]

Fri. Nov. 14, 2014

Screen time 9:00 - 11:00 (GMT+1) M1/M5 DAX only

LO was spiky again with 1 small rent althoug S1 setup was ok. Just the box was a little bit big. Then it went to a nice abc correction with a very nice down fruit setup at 9:20, a good S1 breakout with big box at 9:22, which I took and a lovely S1 at 9:48.

Today's result:
- 7 + 49 = + 42 Pips

This week's result:
Mon. 2014.11.10: no trades - just observing and testing
Tue. 2014.11.11: no trades - just observing and testing
Wed. 2014.11.12: + 71
Thu. 2014.11.13: + 15
Fri. 2014.11.14: + 49
---------------------------
total: + 135 Pips - I've got the feeling it slowly goes upwards again ;-)

[immy]

Hey

Looks like you've got the hang of it ,can you now please promise me something. Just keep doing what you're doing and do not change. can you do this one thing for me please?

[zlabis]

Hey

Looks like you've got the hang of it ,can you now please promise me something. Just keep doing what you're doing and do not change. can you do this one thing for me please?

You are right, Immy. That was the reason for my intensive testing, running simulations and studying in the last 1 or 2 weeks. I had to get the understanding and "feeling" for valid and "good" fruit entry- and, espacially, exit-signals as well as the time frames/screen setup I feel comfortable with. I think, I'm on the right path although there's still so much to learn and to get experienced in.

According to my posting in the "Elliott Wave & AIMS Wave" section about the breakout pattern, I hope it's ok to share my thoughts. Maybe it helps other new and unexperienced traders, like I am, to internalise the principle at very basic beginner level. For myself, I don't trade those patterns but doing analyses like that prevents me from taking fruit signals like a robot, as you wrote once in my journal ;-) and to take decissions at handling a running trade.

Thank you for your assistance!

Cheers
Michael

[zlabis]

Mon. Nov. 17, 2014

Screen time 9:00 - 10:00 (GMT+1) M1/M5 DAX only

DAX was moving nicely when I jumped in. At first I took, so far as I thought, a good M5 fruit which didn't work out. Then two trades in my favour. One was after M1 blue dot/PC, the other after M1/M5 fruits. Both exited quite well after counter fruits at important Fibonacci levels and peaks of AO.

Result of LO session:

- 12 + 24 + 23 + 24 = + 59 Pips. Not bad for 1 hour screen time