Topher's Journal

[Topher]

Well that was a week to forget. I thought M1 was supposed to be action packed and loads of trades!! I took two all week.
I made as much on the higher timeframes and currently have an H4 Eur-Jpy trade that is over 530pips in profit.
I realise this is probably not the norm but is frustrating none the less.

Have a good weekend everyone.

Richard

[Grant]

HI Richard,

Nice trade you have there...

good weekend to you

Grant

[Topher]

Using Aims on the M1 timeframe is beginning to try my patience.

I sat from 6:45am until 5pm staring at the screen waiting for a good Aims setup and absolutely nothing. The higher timeframes have been very lucrative on the Aims system as well as my other strategies.

The biggest issue I am finding is that you need to be ready to pounce onto the pc whenever you hear a buy/sell alert which can be at any time. Venture too far or get distracted and you come back to see you have missed the only opportunity of the day. At least with the higher timeframes you know that every hour/ 4 hours there may be a setup so you have a quick look and then get on with whatever you were doing, with M1 you are a slave to the screen.

Don’t get me wrong I think Aims is great (it has given me a 16.57% gain so far this month, albeit only 4.58% on M1) it’s probably my expectations are a bit too high. I will keep going and see what the coming weeks have to offer.

Richard

[Herbert]

Hey Richard. It is all about finding your own preference. 1min provides "accelerated learning". I find it is an excellent disciplinary medium for me for now.
The method and TF you end up trading on is your call.
Go for it buddy. \m/

Herbert

[Topher]

I won't be trading tomorrow as I am away on business so here is my monthly summary.

I have traded M1 for the whole month but only the past two weeks on H1 & H4.

I feel I have made improvements this month but am been too cautious on the M1 setups. In hindsight they look obvious but as they are unfolding in front of you they seem less so. H1 and above gives you more time to think about what you are doing and analyse it more. With more screen time the M1 setups will come clearer and I will be able to get into more trades. So here's to a pip filled March.

Thanks for everyones help.

Richard

[Grant]

(wd) (wd) (wd)

[Nigel]

Topher your Feb results are amazing, particularly the 1 and 4 hour - very well done. I am on a full time contract at the moment, and so really do not have the time to do 1 min (which I still plan to do when I return to full time trading). In the meantime I will "try" to emulate your performance on the longer terms AIMS .

With that in mind, I hope you don't mind me asking for a few pointers?

What pairs do you include, and is there any particular time that you have found produces more entries etc?

Do you have any specific tricks that you find help ?

Many thanks

Nigel

[Topher]

Nigel

I trade 9 pairs on both H1 and H4. I have all 18 open in a separate account than my M1 system (M1 live H1/H4 demo). I check on the hour to see if there are any buy/sell signals. My trading hours at a minimum are 6:45 to 8:30/ 9:00 and 18:00 to 23:00 each day. I try and get at least two full days in to give M1 a good go.

I have only been trading the H1 and H4 Aims system for two weeks and the trades I have taken have been spread throughout the day from 6am to 8pm. I have changed the Aims box sizes and the Aimswave to suit the higher timeframes, other than that I trade it as per M1 although I don't reference the next timeframe up (i.e. M5 when trading M1).

At present I am experimenting with this and am using fixed SL of 20 on H1 and 100 on H4. I set my TP for a significant resistance/support level and trail the price by either 3 or 5 candles until SL or TP is hit. I will also close on a reverse signal or black dot.

My main trading system is on H1, H4 and D1 and I find that I can be completely swamped with trades and have to scale back on the % traded or decline setups to keep my exposure to a certain level. At other times you can go several days and in the case of D1 several weeks without a trade.

The real beauty of the higher timeframes is not having to be glued to the screen just check back on the hour, a quick 2 or 3 minutes and that's it.

Pairs traded Eur-Gbp, Eur-Jpy, Gbp-Usd, Gbp-Jpy, Aud-Usd, Nzd-Usd, Usd-Cad, Usd-Chf, Usd-Jpy


If you have any other questions then please feel free to ask.

Richard

[immy]

Richard

Thank you for sharing your strategy and plan for the higher time frames. I really enjoyed reading it and I recommend it. I agree 100% that one can take better decision by staying less in front of your computer. However, for this work properly you must first understand that setup and once done all you need is look at your h1 chart a few minutes before the next candle. and during those 55minutes or 3 hrs and 55 minutes for H4 charts you really have nothing to do with charts but to do something else and that is because you cannot take another decision unless and until the next candle is printed.

Most Kind Regards and Yes, May the Pips be with YOU!

[Nigel]

Hi Topher,

many thanks for that very complete answer - can I ask what box and AIMS settings you use for 1 and 4 hour ?

Thanks Nigel