Another week done and dusted, weekly summary:
6 trades for 4 winners and 2 losses for a total of 2.6 pips and 0.41%. I thought it was going to be an overall loss as I didn't feel like I'd made any progress at all this week; gotta shake off this day job, killing my trading time!
I still have complete faith in the AIMS system though. Even with my little chart time and missing good moves I'm still not losing money, that's step 1. I believe in AIMS for the 3 following key reason:
1. Gives good entries, especially with double arrows and going with larger overall trends;
2. Allows winners to grow, and with add ons they really can be knockouts;
3. Keeps losers short, knocks them on the head as soon as they don't go as intended.
Anyway, here's to next week! Hope you all enjoy your weekend.
Dave
Dave from Sydney's Journal [Awarded Title: the Box-Trader]
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Dave
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Dave
- AIMSter
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Re: Dave from Sydney's Journal
Well that was an interesting start to the week. I took 4 entries, on 3 different pairs, all with double arrows, for 4 winners, but for only a collective 0.84%.
I firmly believe in preventing even a small winner from becoming rent, so once a trade has shown me a few pips and come back and tested the previous low/high, I'm quick to close if it has a second retrace, particularly if it's retraced after hitting an M5/M15 etc. low. I know that this is something that I can improve with my trading as I often close a trade when it retraces back towards BE only to see it continue in the direction of the original entry (Jacques took a very similar entry to one of my GU sells and got 14 pips from it), but it's justified just as often when a small winner would have been a small rent, and instead I get out with at least something.
Anyway.....
EU sell for 0.3 pips (SL 10.2, 0.03%)
EJ sell for 0.7 pips (SL 9.9, 0.07%)
GU sell for 1.5 pips (SL 10, 0.15%)
GU sell for 5.2 pips (SL 8.8, 0.59%). Was trailing my stop on this one after so many red candles, only broken up by a bullish pinbar.
Dave
I firmly believe in preventing even a small winner from becoming rent, so once a trade has shown me a few pips and come back and tested the previous low/high, I'm quick to close if it has a second retrace, particularly if it's retraced after hitting an M5/M15 etc. low. I know that this is something that I can improve with my trading as I often close a trade when it retraces back towards BE only to see it continue in the direction of the original entry (Jacques took a very similar entry to one of my GU sells and got 14 pips from it), but it's justified just as often when a small winner would have been a small rent, and instead I get out with at least something.
Anyway.....
EU sell for 0.3 pips (SL 10.2, 0.03%)
EJ sell for 0.7 pips (SL 9.9, 0.07%)
GU sell for 1.5 pips (SL 10, 0.15%)
GU sell for 5.2 pips (SL 8.8, 0.59%). Was trailing my stop on this one after so many red candles, only broken up by a bullish pinbar.
Dave
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Now, I choose to make a profit in trading.
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immy
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Re: Dave from Sydney's Journal
As you know i too took that GU short and caught 29 on that one. My only trade of the day. Well Done! But you gotta learn to let it run! The only to make money!Dave wrote:Well that was an interesting start to the week. I took 4 entries, on 3 different pairs, all with double arrows, for 4 winners, but for only a collective 0.84%.
I
Dave
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!
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Dave
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Re: Dave from Sydney's Journal
Hmmm, too many pips left on the table. Do you use Grant's SL method? Above trigger candle, then to -4 when shows +5, then trail AIMS levels? I really need to work out my exits!!! And of course the three factors you were mentioning in the chat room, colour of eWaves, new AIMS levels and returning to balance line....
Now, I choose to make a profit in trading.
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Dave
- AIMSter
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Re: Dave from Sydney's Journal
That's the end of a short trading week for me, 4 trades, 4 (small) wins for 0.84%
Goals for next week: Trust entries and don't exit on the first retracement, give them a chance!
It's all well and good to wait for the perfect double arrow setups but if I cut them short when they do appear then it's a lot of waiting for not much reward.
Persistence!
Dave
Goals for next week: Trust entries and don't exit on the first retracement, give them a chance!
It's all well and good to wait for the perfect double arrow setups but if I cut them short when they do appear then it's a lot of waiting for not much reward.
Persistence!
Dave
Now, I choose to make a profit in trading.
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Dave
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Re: Dave from Sydney's Journal
Good morning/afternoon/evening everyone and welcome to a new week.
GU short for 8.8 pips (SL 10.7, 0.82%). Before London open, break of triple AIMS (1/5/60) with a modest target of round number 157000. I am VERY happy with this trade because of my trade management and my frame of mind during the trade. So often I cut my trades short on the smallest of retraces and don't give them an opportunity to develop, so this is a step in the right direction. My focus during the trade was on nothing but the rules: SL above trigger, then at +5 to -4, then at +10 to BE (which it didn't reach btw). Anyway, a nice return but a better result for the mind!
Dave
GU short for 8.8 pips (SL 10.7, 0.82%). Before London open, break of triple AIMS (1/5/60) with a modest target of round number 157000. I am VERY happy with this trade because of my trade management and my frame of mind during the trade. So often I cut my trades short on the smallest of retraces and don't give them an opportunity to develop, so this is a step in the right direction. My focus during the trade was on nothing but the rules: SL above trigger, then at +5 to -4, then at +10 to BE (which it didn't reach btw). Anyway, a nice return but a better result for the mind!
Dave
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Now, I choose to make a profit in trading.
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immy
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Re: Dave from Sydney's Journal
A beautiful DA Setup and nicely traded. A step in the right direction surely. WE must remind ourselves, market does not move in straight lines. and we must follow its turns and twists within our parameters. Well Done!
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!
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Dave from Sydney's Journal
Thanks for your kind words, Immy. Little pearls of wisdom to add to my cluttered thoughts each day 
)
Anyway, a few very nice pips from an unlikely source today. (As Bettina knows) I have previously enjoyed trading the DAX and have just recently put some AIMS indicators onto the DAX charts - seems to move with good volume and I get a fixed 1 pip spread which is nice.
DAX buy for 18.2 pips (SL 10, 1.82%). The correct SL for this entry, and to be below the recent M1 AIMS low, was as far back as 20 pips, which is too far for me! Seeing the price action prior to this entry and the support of the round number gave me confidence for the entry above the M1/5/15 levels, and price rocketed through! I exited when the M1 charts showed a gap up, it really jumped... I admit I sort of panicked and quickly closed... but an exit at 6831 proved to be good. I love these entries with double arrows and multiple AIMS levels!
Dave
) Anyway, a few very nice pips from an unlikely source today. (As Bettina knows) I have previously enjoyed trading the DAX and have just recently put some AIMS indicators onto the DAX charts - seems to move with good volume and I get a fixed 1 pip spread which is nice.
DAX buy for 18.2 pips (SL 10, 1.82%). The correct SL for this entry, and to be below the recent M1 AIMS low, was as far back as 20 pips, which is too far for me! Seeing the price action prior to this entry and the support of the round number gave me confidence for the entry above the M1/5/15 levels, and price rocketed through! I exited when the M1 charts showed a gap up, it really jumped... I admit I sort of panicked and quickly closed... but an exit at 6831 proved to be good. I love these entries with double arrows and multiple AIMS levels!
Dave
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Dave
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Re: Dave from Sydney's Journal
What a great start to the new month. As with a previous recent sell on the GU I am most happy with this entry because I stuck with the rules, trusted the setup, set a profit target and trailed the stop throughout - first below the trigger candle then below the new M1 AIMS low. Previously I've been quick to take profits or close on the smallest of retracements, so another step in the right direction.
EU long for 15 pips and an add on of 10.3 pips for a total of 25.3 (SL 14.4, 1.76%). Exit was on a limit order at the D R1 level, and price only just got there.
A question for those that add on to their original entries.... Is your position size the same as your original entry (which is what I did here) or do you adjust it to fit its own stop loss? This would have changed my position size significantly for this entry as the original stop was 14.4 pips but the stop loss for the second was 10 (I tend to just put 10 by default, knowing I wouldn't let an add on go too far against, but this was below the fresh AIMS low anyway).
I know it's a bit repetitious but double arrows + double/triple AIMS levels is powerful stuff!
Dave
EU long for 15 pips and an add on of 10.3 pips for a total of 25.3 (SL 14.4, 1.76%). Exit was on a limit order at the D R1 level, and price only just got there.
A question for those that add on to their original entries.... Is your position size the same as your original entry (which is what I did here) or do you adjust it to fit its own stop loss? This would have changed my position size significantly for this entry as the original stop was 14.4 pips but the stop loss for the second was 10 (I tend to just put 10 by default, knowing I wouldn't let an add on go too far against, but this was below the fresh AIMS low anyway).
I know it's a bit repetitious but double arrows + double/triple AIMS levels is powerful stuff!
Dave
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Now, I choose to make a profit in trading.
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Kyle
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Re: Dave from Sydney's Journal
Hi Dave,
I would assume an add on would be based on risk rather than position size. 1st trade at 1% risk, and the add on also has same risk with stop above/below AIMS box that created the add on. The two trades would then have different stop losses as well.
Just my thoughts
Kyle
I would assume an add on would be based on risk rather than position size. 1st trade at 1% risk, and the add on also has same risk with stop above/below AIMS box that created the add on. The two trades would then have different stop losses as well.
Just my thoughts
Kyle