Start a Trading Journal - Start Posting Your T20 Trades Here.
Tips for First Post: Start with personal introduction, share your story, your future plans.
Use Template Prodvided for Recording Trades.
Starting a journal for the first time:Pressure is on.... to show all Aims members the Good,the bad and the Ugly !!!! ) (
Ps:The horizontal lines are Fibonacci/Pivot points from a standard Mt4 indicator,the vertical line remind me of the times when the London and N.Y.sessions open and on the left are:a Currency strength and a Multi trend indicators which are no use for the Aims method but are there just to light up the picture for Christmas !!!!!!
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Last edited by pinnedacier on 09 Dec 2011, 17:18, edited 3 times in total.
Hello Grant !!!
Thank you for your message and I hope that I am not too intrusif as a relatively new member with all my comments......
The Fibs indicator works on all TF.Once installed,each day,it does draw automatically identical levels/lines for all TF.I have it installed on M1 and M5.
If I am in a trade,I am using those levels as possible exits to protect profits or limit losses as I have found out that they are pretty well respected by the price action in a normal market situation.Those lines/levels are zones of support/resistance and not precise levels of course!!!!.However,I realize that it is an old habit from my past.Now,I am trying to not use this indicator as much since I prefer to apply Imran trailing stops techniques or the Aims dots exits method.But again it all depends my feel for the market at that time.
Ps.:my name is John
Congratulations on starting your journal. I can only put more emphasis on the importance of keeping the journal. It is certainly a great learning tool.
Thank you posting and thank you for the explanation. Looking forward to trading wit you
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.
This picture shows 2 trades.
The first is a loss but I am proud of it as,FINALLY,I have forced myself to keep the loss small (using 10 pips VE Aims auto stop loss and a little adjustment of a few pips) BY having my stop loss over the green line which is the day open price).It is usually a good resistance line for a short trade in that sitsuation.
However the price action did go up thru and hit my stop loss.
The reason I am Ok with that BAD trade is because I did not allowed it to become an UGLY one with all the stress and bad feeling that goes with it.
Also,accepting a bad trade has allowed me to focus on a new opportunity as you can see on the 2nd trade which gave me enough pips to make it up.I am using a modified of Grant's template as I like very much that yellow line which in that trade was a possible resistance level for a possible exit.Price did go thru and went up again.My actual exit was based not on the red dot exit but more on my evaluation of the rhytm of the market and the AO bars becomming darker.
Thank you Imran and Grant for helping me to become a better trader STRESS FREE hopefully very soon.
Comments are definitively VERY welcome.
Cheers and happy trading!!!!
John
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HI, firstly, I have moved your post to your journal. it was posted as new topic.
2ndly, WEll Done on recording and sharing your trades. This is a very good practice.
3rdly, The first trade is good, exit is still good but could have been better. No worries you'll get that soon
the second entry was a good setup but I would have been stopped out due to consecutive green candles. You stayed and have a postive trade. Well Done. But at the same time you should have a 1-2 exit strategies and you must must must must follow them. It does not matter AT ALL if you have a winning or losing trade. What matters is following rules. I'm going to say something that you might have heard a zillion times but if you understood this you will become a winning trader and will remain that for the rest of your life
CUT YOUR LOSERS (RENT PAYMENT) AND LET YOUR WINNERS RUN
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.
immy wrote:HI, firstly, I have moved your post to your journal. it was posted as new topic.
2ndly, WEll Done on recording and sharing your trades. This is a very good practice.
3rdly, The first trade is good, exit is still good but could have been better. No worries you'll get that soon
the second entry was a good setup but I would have been stopped out due to consecutive green candles. You stayed and have a postive trade. Well Done. But at the same time you should have a 1-2 exit strategies and you must must must must follow them. It does not matter AT ALL if you have a winning or losing trade. What matters is following rules. I'm going to say something that you might have heard a zillion times but if you understood this you will become a winning trader and will remain that for the rest of your life
CUT YOUR LOSERS (RENT PAYMENT) AND LET YOUR WINNERS RUN
Thank you Immy,
You are 100 % right and I 've got to work on that VERY important aspect of trading your method: CUT and RUN
John
Hello there!!!!
Today started slow just before the London session so I walked away from trading thinking that professional traders were already off for their year end vacations !!! Then I came back to see that I have missed a great push up.I was frustrated and took a trade too soon with an AO still too far from its zero line.But the Forex Gods were on my side and I got a great trade after paying some rent.My exit was based on several informations such as:Proximity of a Resistance line # 3 and price getting closed to the 200 EMA on M5.
I also trailed the price action with a stop below the low of the previous candle.
Thank you to Imran and all the Aimsters that are helping me with all their great journals.
Cheers and Happy trading for you all!!!!
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Trading Chaos! We trade chaos and you never know when things move. The big traders are not trading, i've heard that before a zillion times, but the market moves when no one thinks it going to move. Nice one there, but be careful there buddy, you had clear exit signals. and re entry signals. I would not have entered there in the first place, and if I did I would have exited and then re entered later on the setup. The important thing is not that we made money/pips , its more important whether we traded the setup or not!
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