WezzaUK's Journal - Daily Fruit

[wezzauk]

Ok, so I've recently joined AIMS and heartened by the positive reviews of the site that I just had to join. Spent the past week or so going through the manuals and strategies and decided to trade the Fruit strategy on Daily as I still have a full-time job and with kiddies, the Daily timeframes seems the best for me.

I've opened a demo spread betting account with GKFX. Sticking to the trading plan is my goal with this T20, so lets see how it goes. Any support and feedback welcome.

Here is my trading plan will I do my best to stick to with this T20.


Follow 15 Pairs
EURUSD, AUDUSD, EURCHF, EURGBP, EURJPY, GBPCHF, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, GOLD, WTI, DAX30

Timeframe : Daily

Strategy : Fruit Trades

Entry
1 pip above/below Fruit signal
A good angle is essential

Stop Loss
1 pip above/below fruit signal (plus spread on Buy)
Stop Loss for each add-on trade will be the other side of the AIMS Box

Trade Management
I will add-on a trade after Fruit entry at the first break of an AIMS Level
There will be a maximum of 2 add-on trades after the initial entry for each Campaign.
Stop Loss will not be moved until price moves to the other side of Gator
Each trade will then be managed by Trailing the AIMS Boxes
During the 'Open Gator' stage, exit will be at the close across the Green Line, if an opposing Fruit signal appears or trailing AIMS Box stop hit.

Money Management
Initial entry 0.5% risk
Each additional add-on entry 1% risk
Total for each campaign 2.5% risk
There will be a maximum of 3 ongoing live Campaigns at any one time

[immy]

Hello and Welcome to the world of "journals" and aims ...

You've made the right decision. Fruit on D1 is fantastic. Journal keeping is the KEY here. Successful trading depends on this.

Your plan looks pretty concise and neat. very nice to see. hope this is the shorter version for us and you have a detailed trading plan at your drive or printed and binded version sitting at your desk.

cheers

[baldeagle]

Thanks for starting a journal and using The Fruit method on the daily TF. I will be interested in your results and how many signals you get!

Questions: Are you using a broker with a New York close? When does it close in your part of the world? What version of The Fruit are you using?

Ed

[wezzauk]

Hi Ed,

Thanks for the reply.

I'm using GKFX as recommended using their spread betting MT4 demo account as I'm from the UK.
They do align with New York close, and it's midnight UK time.

I just downloaded the Fruit template and applied it. It says v2.5 but until you said, I didn't realise that there was a v4.0
I can see that v4.0 has more signals filtered out. So I've just swapped form v2.5 to v4 in the template.

[wezzauk]

Ok, my first trade. So the DAX had a Fruit signal on the Daily and there is an angle, perhaps not the strongest angle but it looked ok.

The price was far away from the Gator lines and the previous few bars were strong bull bars so perhaps potential to have a good elastic effect to rebound back?
I've drawn on the chart where I think the angle lines are. I've put a pending Sell Stop order and will see if it triggers. If not then I will cancel it.

Any thoughts welcome.

DAX30SBDaily-100118.png

[immy]

Ok, my first trade. So the DAX had a Fruit signal on the Daily and there is an angle, perhaps not the strongest angle but it looked ok.

The price was far away from the Gator lines and the previous few bars were strong bull bars so perhaps potential to have a good elastic effect to rebound back?
I've drawn on the chart where I think the angle lines are. I've put a pending Sell Stop order and will see if it triggers. If not then I will cancel it.

Any thoughts welcome.

DAX30SBDaily-100118.png

Yes, indeed. A very good Fruit signal... its triggered pretty nicely and shows some potential. We will only become more conffident once we see 3 red bars on AO thats where we will add on. lets see how it goes

[immy]

I made a video about some fruit analysis using DAX D1 chart ... may be of interest to you too. viewtopic.php?f=40&t=1555&p=29022#p29022

[wezzauk]

Thanks Immy,

Really good and useful video. From the video and looking at my chart and current trade, it's not dissimilar to the situation in your video.
There's a wave 3 and then a wave 4. The last long Fruit signal perhaps was the start of a Wave 5? It corresponds to 50% retracement level and I guess looking from that point of view, the expectation is that this market should rise and I perhaps should not have taken this short.

I will need to keep an eye on it to see if there is an exit point around the Gator lines or whether there is a SAR trade if it does shoot up. I guess it's just wait and see.

What do you think? Would it have been sensible to have been looking for longs here? Also in view of this I would be tempted to tighten stops or look for early exit but for the purpose of this T20 I guess I need to just stick with the trading plan and let what occurs happen?

DAX30SBDaily-110118.png.jpg

[acceleratum]

Your wave analysis seems ok, it might be the start of w5 and ideally I like fruits not only with angle but also a peak that has already reached target zone 1 or is showing divergence on AO, of course most signals wont check all the requirements as market isnt completely predictable and that can drop like crazy when the expectation is to go long.
So you watch and follow the plan religiously, thats what the T20 is for, let it happen, check it out, gather data, and later you can refine your filters, add different parameters to check and so on, but not until you finish the batches to gather the necessary information and discipline to trade effectively.

[immy]

Thanks Immy,

Really good and useful video. From the video and looking at my chart and current trade, it's not dissimilar to the situation in your video.
There's a wave 3 and then a wave 4. The last long Fruit signal perhaps was the start of a Wave 5? It corresponds to 50% retracement level and I guess looking from that point of view, the expectation is that this market should rise and I perhaps should not have taken this short.

Immy: You have taken absolutely good trade and signal. Fruit entry is the TEST entry. if it keeps going down you will add on... and it might print a new pattern and the previous analysis might be wrong. So we do take signals as long as the setup is right.

I will need to keep an eye on it to see if there is an exit point around the Gator lines or whether there is a SAR trade if it does shoot up. I guess it's just wait and see.

Immy: agreed, you are in a trade, and you will only exit when it goes either on the other side of Fruit or gator. Follwoing your trade plan.

What do you think? Would it have been sensible to have been looking for longs here?

Immy: we can be looking for longs yet at the same time make trades like these. in the end its just another attempt. keep going

Also in view of this I would be tempted to tighten stops or look for early exit but for the purpose of this T20 I guess I need to just stick with the trading plan and let what occurs happen?

Immy: The Exit for Fruit is the opposite side of fruit. That's where you'd expect a new Box high to be formed. AS long as it stays in the Stage 1 (price above gator for this Bear trade) Exit will be above fruit. When price starts to go inside gator, down side, hopefully by then you'd have added on once or tiwce. thats when we think of tightening SL using either the box levels if never lower level is formed or utilise 5 red bars if we think market has moved either too fast or not moving. I would keep SL on the other side of the box high until it breaks out on the other side of gator. Seems to be going well today as well. I made 3R profits on the m1 chart in the skype room. so that's that .

ps: imagine you were long on the fruit. What you be doing to your long trade at the time you saw the short signal?

DAX30SBDaily-110118.png.jpg

CHEERs