Dave from Sydney's Journal [Awarded Title: the Box-Trader]

[Dave]

Hi everyone,

So I've decided it's time to start my journal. I've refrained from posting my trades until now as I don't use MT4 as my live platform (I just run a demo account with the AIMS indicators alongside my preferred platform) but if you'll excuse the fact that I don't have the trades auto drawn by MT4 then the pics I post will suffice.

I've been trading with AIMS for several months with mixed success and hope this journal will ensure I take only the best setups. And if I don't, then I intend to learn from my mistakes and ultimately become a better trader. I've enjoyed reading everyone's comments and look forward to some constructive criticism over the coming weeks/months/years.

I'm not able to trade everyday as I work shift work but when possible I try to trade EU/L open and grab some time during NY too.

Thanks Immy et al for a great system... here we go!

Dave

[Kyle]

Hi Dave :-h
A fellow Aussie I look forward to seeing your trades. i have been going a few weeks where I can, but been quite inconsitent to date. I hope to fix that a little bit before joining Immy on his trade chat and then improving further.

I do have complete faith that this can work. My key hasn't quite unlocked the door yet ........ but it will B-)

Kyle

[Herbert]

Welcome Dave!! Looking forward to your posts.
Post what you can, MT4 or preferred charts. We can always look back on our own to see all indicators at play. This is your thread, your the boss!!! )

Regards
Herbert

[Dave]

I was determined to not let my first journal post be a rent... but alas, here it is, -5.1.

The entry was little impulsive and I didn't wait for the complete cross of the ZL to confirm W4, but what's more frustrating is that I closed the trade at it's lowest point, when it broke the M1 AIMS level low. I thought at the time that I had allowed for a small PC but in hindsight the low that I closed on was probably the completed PC. Then it gave another entry (which I didn't take) and took off. I'm sure there will be plenty of you that took the winning long (I've also added that pic)...

Anyway, lessons: Wait for ZL cross and confirmation of W4, don't be afraid to re enter if another nice setup occurs.

Positives were that I thought I was wrong with the entry once the M1 AIMS low was broken and I closed at a pre determined level. At least the loss was small.

Look forward to your feedback.

Screen Shot 2012-06-21 at 7.08.57 PM.jpg

Screen Shot 2012-06-21 at 7.23.49 PM.jpg

[Dave]

Trade number two = rent number two, -10 :-s

Was again trying for M1 W5 of M5 W3, got the ZL cross to suggest W4, had a type 2 setup which was also double AIMS, but it didn't work out. My spread fluctuates between 0.8 and 2.0 on EU and ordinarily I place my order 2 pips above/below level, but for some reason on this one I did it at 1 pip and just got tagged in on the spread. Annoyed with myself for the closer entry.

Lessons: ALWAYS allow the higher spread to allow the fluctuation, otherwise it looked ok.

Feedback welcome as always.

Screen Shot 2012-06-21 at 8.14.01 PM.jpg

[Dave]

Last trade for today, entered short on break of 5 min AIMS level and closed just above 60 min low for 16.2 pips, which covers the two previous losses

I did have an add on set below the first 1 min AIMS level after the entry, but I deleted it when the trade wasn't going well for me, and was too slow to get it back on when it turned in my favour again. Happy with the entry though. Was almost stopped out on the retrace but price continued down from red line. Decision to enter was definitely influenced by Wall St opening, new money maybe new momentum, and even though it's not FX specific it does affect the USD.

Lesson: Keep the add on if the setup is there, could have had an extra 10 pips. Even if the trade has turned slightly against you, unless it's closed then the add on may become fruitful.

Screen Shot 2012-06-21 at 11.42.50 PM.jpg

[Spyros]

Nice work there Dave (wd)

[immy]

Dave

Its great to see your charts and wonderful trading. I know there were rents but you know what happened afterwards. We can learn from this and in the long run you will be successful. Just need to make sure 2 things are clear 1. Correct Money management - we are not gamblers 2. We are trend traders so we must know what is the trend before we commit.

cheers

Immy

[Dave]

Goodmorning everyone and welcome to a new week.

A good start to my Monday with two winning trades and some pips before London open. I always watch the charts from EU open (7am UK) but rarely take a trade until 8am, but these two formed nicely.

EU short for 15.5 pips (10 pip SL, 1.55%). Definitely left some profit on the table but the sudden drop and distance back to the alli, along with the fact that the trade was well into profit, made me close. My original profit target would have been 1.2500 so could have had an extra 10 pips but not to worry.

Screen Shot 2012-06-25 at 4.34.08 PM.jpg

GU short for 8.1 pips with an add on for -2 pips for a 6.1 pips total (8.3 pip SL, 0.73%). I always remember the saying "NEVER let a winner become a loser", so when the add on turned against, and with the EU trade in the bag, I was quick to close.

Screen Shot 2012-06-25 at 4.52.54 PM.jpg

Hope you all got a few too!
Dave

[Dave]

Just looking back at these trades and seeing the extent of the trend confluence - M1/M5/H1 and D allis all suggesting a downtrend - maybe these are the setups where we can move our SL to BE and sit back and trail.... really go for a knock out trade!