Sam's Journal [Awarded Title: The Master of Famous Setup ]

[immy]

Sam

Just to let u know im watching and reading your journal. You seem to be doing just fine. Carry on like. Rinse and repeat buddy.

Good trading

Cheers

[wiseambitions]

There are two interesting parts to your success

1) m15 instead of m1 etc. You've caught some big moves there

2) diversification away from eurusd. So long as the spread isnt too wide thats a good idea. Uncorrelated currency pairs would be even better, because we are all too linked to the fortunes of the greenback

[immy]

I believe the strategy works exactly the same way as it does on m1 or a monthly chart. Why? its in line with the Structure of the Market. What makes one time frame better than other is - YOU.

[wiseambitions]

Also got some losses. Below are my losing trades.

EURJPY (06-12-12) -20 Pips
GBPJPY(4-12-12) -21pips
GBPJPY(6-12-12) -19Pips

I placed trade on breakout of AIMS but new AIMS formed after i placed an order. From screenshot it looks like i took trade inside AIMS but this often happened to me like once i placed an order on breakout of AIMS, after some price movement new AIMS gets created. Can you please explain what should i do to avoid this ?

Regards,
Sam

Hi, As I try to reply I lose sight of your 3 charts, so I can't remember everything that I'd do in the situation myself, but my main worries for you are
1) Entry was usually too late after breakout of the Aims box. You missed much of the action.
2) On the first 2 charts you are really trading against the trend. Trading towards the purple line can be asking for trouble. I'm learning the meaning of "The trend is your friend!" Add to this for example the danger of going short when the purple line (which is always displaced towards the right of your chart in the present time) is still rising.
3) Looking at the AO wave on the 3rd chart, I would have been expecting the bars to go over the zero line and go green at some point. Not enough info to count the waves, but in retrospect what you went through was 3 or 4 bars of a diversion in the price downwards which was not going to get sustained. It's easy to look back with hindsight but I'd have been a bit suspicious and would have looked for economic news or other factors before hoping for further gain in that kind of trade.

[immy]

Also got some losses. Below are my losing trades.

EURJPY (06-12-12) -20 Pips
GBPJPY(4-12-12) -21pips
GBPJPY(6-12-12) -19Pips

I placed trade on breakout of AIMS but new AIMS formed after i placed an order. From screenshot it looks like i took trade inside AIMS but this often happened to me like once i placed an order on breakout of AIMS, after some price movement new AIMS gets created. Can you please explain what should i do to avoid this ?

Regards,
Sam

Sam!

Time to look at my previous post again. Here again you've broke your rules. All 3 of them are Black Dot Trades, meaning against higher time frames. 2ndly your entries are too far from the aims levels taht you should have taken. I the picture at the top you've entered at teh 5th candle that broke an aims level, totally wrong. Plus 4 candles later you had exit signal but you seem to have not followed the signal and left it running until a further 23 candles. Then you see to have missed the proper setup. (ej m15) GJ m15. you traded a black dot and entered on the 3rd candle after the break of aims, again towars teh purple, price bounced off the purple and closed your trade on the other side of aims box. the third picture GJ m15, again your entry is too far from current aims level and your entry is when AO is TOOOO old and dot colour is pink, which meant you had to wait for a fresh cross and a fresh aims level.

Now, lets talk about why the aims boxes are formed after your entry. well, when price turns around and its a fractal formation, the box will form, whether you took the entry there or not.

cheers

[immy]

And yes, totally AGREED with Ray's analysis! cheers Ray!

[Topher]

Hi i didn't trade since last few weeks as i have undergone surgery. I am getting better now so started trading again in new year.

I took these two trade on 3-jan-2013.

EURJPY - 50pips
GBPUSD - 36 pips

I closed them early as i wanted to go for bed so didn't get more pips but i am satisfied with what i got.

Nice one

Love the quote 'i am satisfied with what i got'. I would be incredibly happy with that.

Well done and hope you have a speedy recovery.

Richard

[tombacon89]

Attitude of grattitude in action! Well done and all the best.

[immy]

Well Done Sam, and hope your surgery went well and you're doing great! all the best.

[immy]

Sam!

You traded a perfect S2 DA! Nicely done!

(I'm sure you knew but, with such a mirror like correlation albeit inverse between Swissy and EU, you actually traded EU with double your normal lot size)

cheers