Hi immy thankyou for you comments I feel I have been guilty of trying to catch breakouts recently.
I have been having a good think about my trading this week. I am not a breakout trader (although it is nice to see), I am a trend trader, and my ideal setup which I like trading, feel most comfortable and relaxed trading is: finding the longer term trend, scaling down to 5/1min and seeing a wave 3, watching the retrace 4th wave and looking for a valid setup and trading wave 5. I am going to write this down and stick it next to my screen ready for Tuesday morning and only trade that scenario.
This is my 3rd month of trading AIMS and my account is just under it's opening balance; I believe my ability to learn and trade this system has dramatically improved so far. I feel I have made the switch to the subconcious mind now. I am going away mid April for 10 days so I have decided to recharge and open a micro account and will begin trading live from the start of May. With small stakes I believe I will get disciplined, focused and patient. I honestly think if I can do those 3 things my trading will become succesful combined with the edge that is AIMS.
Happy Easter all, Tom
Tom from Leeds's Journal
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tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
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Re: Tom from Leeds's Journal
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Tom from Leeds's Journal
Happy Easter to you too! and Remember with patience and discipline you will get there. 3 months and break even is a very good result. Never violate the Money Management rules. never get greedy and always trade 1% or less per trade. Drop by Drop you may fill the ocean! The power of compounding is incredible. Even starting off a .01 lot and building up it may turn your account into a huge one in time! cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
- 13
Re: Tom from Leeds's Journal
took a quick 14pip (1.4%) profit on shorting the euro this afternoon. I was cautious of the 15min low and aimed to get my stop to break even at the quickest possible opportunity, I then trailed my stop to 1 pip above the 60min low locking in my profit.
You do not have the required permissions to view the files attached to this post.
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Tom from Leeds's Journal
tombacon89 wrote:took a quick 14pip (1.4%) profit on shorting the euro this afternoon. I was cautious of the 15min low and aimed to get my stop to break even at the quickest possible opportunity, I then trailed my stop to 1 pip above the 60min low locking in my profit.
A Classic setup. Well Done mate. This is what we want to do over and over. 1.4% is good for a week for most traders!
cheers
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
- 13
Re: Tom from Leeds's Journal
-0.6 pips on the euro.
You do not have the required permissions to view the files attached to this post.
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
-
tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
- 13
Re: Tom from Leeds's Journal
+ 3 pips on euro. price didn't seem to follow the direction after the trigger candle, closed the trade with the ao turning dark green. happy with my trading on that one.
You do not have the required permissions to view the files attached to this post.
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
-
tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
- 13
Re: Tom from Leeds's Journal
-5 pips on this trade. my entry was more than 3 pips away (lack of concentration) and I wasn't really 'feeling' the trade.. should have known better. next
You do not have the required permissions to view the files attached to this post.
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: Tom from Leeds's Journal
Alas! a few minutes later it kicked off. Hope you got that! anyway NEXTtombacon89 wrote:-5 pips on this trade. my entry was more than 3 pips away (lack of concentration) and I wasn't really 'feeling' the trade.. should have known better. next
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
- 13
Re: Tom from Leeds's Journal
Hi immy, I had an order set after the green dot and new level formed. Then I deleted it.. My head wasn't in the trade and I cancelled my order. I felt like after 3 trades today I was over trading? But this is something I need to get used to. And learn to rinse and repeat every setup.
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
-
tombacon89
- AIMSter
- Posts: 384
- Joined: 05 Feb 2012, 18:26
- 13
Re: Tom from Leeds's Journal
paid some more rent, -6.5pips. liked the look of the euro's movement down and looked to trade the setup not the waves. I was pipped in the trade and price went right back against me. I closed when the black dot appeared.
You do not have the required permissions to view the files attached to this post.
'Do Not let yourself get in the way of your profit producing tools'
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals
"If it’s meant to be, the universe is gonna throw it back to me, to get it back all we need is to let it go, put your faith put your trust in the chemicals" - Various Cruelties - Chemicals