Immy or Anyone,
At the end of Mark Douglas' book Trading in the Zone he recommends taking 20 consecutive trades using an edge entry with rigid variables that requires no subjective judgement at all,just see it and take it. Has anyone done this or could anyone recommend a way of doing this using AIMS indicators???
Any suggestions welcome!!
Thanks in advance
Learning
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Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Learning
Hi Kooky,
Great idea! And a great way to test the validity of any method. Here's my thoughts....
AIMS has three rules, so base your initial "objective" rigid variables on those rules:
1. eWave close to ZL - use the variable that makes the eWave orange when close, or only take on crosses when eWave also moving away from purple line;
2. Small AIMS box - Set a strict size for what equals small, such as 10 pips on M1 EU. Or, say that the AIMS box must be smaller than the proceeding AIMS box;
3. Alligator asleep - green, red and blue lines horizontal/interwound/recently asleep.
Then set some strict trade management rules, such as only open after a valid dot entry, and close on dot, or close trailing AIMS levels, or close on a TP when TP = 2 x SL (so a 2:1 R:R), or whatever you want just stick to it!
The key point that Mark Douglas is making is that you have to stick to a method and a set of rules and not chop and change every few trades searching for the holy grail. Strictly speaking it is impossible to have a set of 100% objective rules unless you have numbers/values that relate to all of your entry criteria, and you then hard code them or stick to them strictly. Given AIMS still has a small element of decision making and subjectivity (it has to, or else it'd be an EA and we wouldn't ever watch the charts) you need to set your own rules and make sure you're comfortable with your variables and you adhere to them.
Hope that helps in some way!
Dave
Great idea! And a great way to test the validity of any method. Here's my thoughts....
AIMS has three rules, so base your initial "objective" rigid variables on those rules:
1. eWave close to ZL - use the variable that makes the eWave orange when close, or only take on crosses when eWave also moving away from purple line;
2. Small AIMS box - Set a strict size for what equals small, such as 10 pips on M1 EU. Or, say that the AIMS box must be smaller than the proceeding AIMS box;
3. Alligator asleep - green, red and blue lines horizontal/interwound/recently asleep.
Then set some strict trade management rules, such as only open after a valid dot entry, and close on dot, or close trailing AIMS levels, or close on a TP when TP = 2 x SL (so a 2:1 R:R), or whatever you want just stick to it!
The key point that Mark Douglas is making is that you have to stick to a method and a set of rules and not chop and change every few trades searching for the holy grail. Strictly speaking it is impossible to have a set of 100% objective rules unless you have numbers/values that relate to all of your entry criteria, and you then hard code them or stick to them strictly. Given AIMS still has a small element of decision making and subjectivity (it has to, or else it'd be an EA and we wouldn't ever watch the charts) you need to set your own rules and make sure you're comfortable with your variables and you adhere to them.
Hope that helps in some way!
Dave
Now, I choose to make a profit in trading.
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kooky
- Free Member
- Posts: 133
- Joined: 12 Feb 2012, 06:39
- 13