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

[Bettina]

Grateful for the "special treatment"

[immy]

You might notice double arrows. bear with me a few days I'll post my template. its work in progress.

[Bettina]

Immy, why didn't you take the first arrow ? ( That's what I did )

[immy]

Immy, why didn't you take the first arrow ? ( That's what I did )

How to Trade the Arrows:

Arrow Points to a Possible Setup in the Direction of a Higher Time Frame Trend.
When Arrows Appears Here is what you need to look at. First thing is look at the next higher time frame, in case of M1, check m5, that alligator is really open.

Note: There is a situation where alligator was open and price moves nicely, but now its actually closing, but arrow might think its still open. Use common sense and exercise caution. This is why its important to physically/visually check the higher time frame. We need Alligator freshly open, and AIMS Wave still peaking, increasing momentum on the higher time frame.

In the case of Grants Flow Chart, You just ask those questions according to Flow Chart.

So having done the above, the arrow points out that "the higher time frame may still be in this direction and if the Setup is a correct Setup you might want to trade it. Here is how we check that its a Setup. The Classic Setup.

Rule 1. Alligator Sleeping or Just Awake/Waking Up.
Rule 2. AIMS Wave Red for Shorts Green for Longs with Fresh Cross (Or in case of Orange Bars, preferably below ZL for Shorts and Above ZL for Longs)
Rule 3. Tight AIMS Box, Exit close to Entry Level. (Meaning when you make your entiries make sure the other side of AIMS box and/or the red line is close. The closer the better.

[Herbert]

Now that was a In-the-ZONE setup. And here i was looking at EJ spiking my charts to pieces......
I need to get around watching more pairs at a time.....

[immy]

Now that was a In-the-ZONE setup. And here i was looking at EJ spiking my charts to pieces......
I need to get around watching more pairs at a time.....

Yep, may be in the zone trade. The AIMSters were quite today, so I was more focused 8-} nah only kidding! I did not let myself "cry over spilt milk" after taking only 9 pips out of that gigantic move, I offered gratitude and went for a walk, nature also offered back some gratitude and got home completely soaked. It rained like it never rained before. Came back looked around. Saw Ej and Eu at that time, Gators were sleeping on m5 but on GU gator was open and was close to H1 low. Thought if it breaks that it would do something. And there you go!

Ps: not each time frame will setup for each move. You might find days, where m5 was super trending but at the same time its is quite possible that the only setups on m1 were rents. like wise, today EJ did not setup for the short, but it was a great H1 setup with an arrow (meaning in the direction of H4). But the last Setup on EJ on H1 was a rent and that was 4 days ago. Meanwhile there were plenty of setups on M1 and M5's while H1 was still waiting. on the 25th of June EJ dropped crazier than today. it created two good setups. One was too early for me to trade the other I missed. But on H1 there was no setup. Its all strange but beautiful. We just have to stay consistent and trade the same setup over and over and over! This way we will beat the market with our edge, our statistical edge. THE SETUP

[immy]

What is the Simplest Way to Trade Successfully

Trade Setup 1 Only in the Direction of M5. How do you do that?

Do not trade until M5 alligator is open. Let it open, and let it brake the range. Now wait for Setup on m1. Trade in the direction of m5.

It could not be simpler than this but Patience and Discipline is Required. This can give you up to 65% success rate. (or may be more)

True you may miss some breakouts, true sometimes it might not setup. But thats how it goes. Take only the Setup The Setup and Only the Setup. If you do that you have something solid to think about. You can complain about it (to yourself), you can argue about it (with yourself), you can find faults in it (in the system) , you can run stats on it, you can investigate it, you can look for patterns of your behaviour, you can find out whether what I say is true meaning does the Setup work?, but if you don't trade the Setup, you have nothing to argue about, nothing to reason, no basis for investigation, you will never find whether it works or not. IMHO

[Herbert]

What is the Simplest Way to Trade Successfully

Trade Setup 1 Only in the Direction of M5. How do you do that?

Do not trade until M5 alligator is open. Let it open, and let it brake the range. Now wait for Setup on m1. Trade in the direction of m5.

It could not be simpler than this but Patience and Discipline is Required. This can give you up to 65% success rate. (or may be more)

True you may miss some breakouts, true sometimes it might not setup. But thats how it goes. Take only the Setup The Setup and Only the Setup. If you do that you have something solid to think about. You can complain about it (to yourself), you can argue about it (with yourself), you can find faults in it (in the system) , you can run stats on it, you can investigate it, you can look for patterns of your behaviour, you can find out whether what I say is true meaning does the Setup work?, but if you don't trade the Setup, you have nothing to argue about, nothing to reason, no basis for investigation, you will never find whether it works or not. IMHO

) Well said.... :-bd

[Bettina]

Hi Immy,
question on alligator being open : I remember the setup book, that says : to judge whether the alli is open or not, we look at the end of the tree line.The arrows take the current values, so a dot might not be an arrow, but our eye says open. Is that correct ?
( Steve confirmed, that he takes the current values ) . The slip mostly is not much, but if it was'nt important, you wouldn't have designed the allis like this ( I guess :-B )
E.g. that was the case in my last EU trade.

Bettina

[msk185]

I wish that I can see this so simply.

My principle has been to trade this way but I am guilty of not always doing so but I have some questions

1 For the alligator awake on M5 do we have the green red and blue aligned and all three pointing in direction of trade ie if going short green alligator on M5 cant be pointing up even if below the red?

2 For fresh cross of AO and close to zl, I use the variable setting on ewaves with 0.0002 and 0.0006 so if its gold its close to zero and for fresh cross with 8 bars - is this a fair assumption

3 Finally recent support levels nearby which should be taken into account and which should not?

I'm sorry if this sounds mechanical and/or basic but for me I prefer a clear set of guidelines so that I can attempt to be consistent with the trades I take and those I decline.

Thanks for your help

Mike