Adopting a strategy for newbie

[MaxZen]

Hi trading team

I'm a new member and am looking forward to learning and contributing to this collective

I have read the through the documents and would appreciate Immy's thoughts on where best to start in terms of adopting a strategy. Do you still recommend starting with The Setup? I also plan to join the Skype group later this week. Which strategy are most Skypers using? Should I allign my learning to the main strategies within that group?

Thanks in advance!
M

[immy]

Hi trading team

I'm a new member and am looking forward to learning and contributing to this collective

I have read the through the documents and would appreciate Immy's thoughts on where best to start in terms of adopting a strategy. Do you still recommend starting with The Setup? I also plan to join the Skype group later this week. Which strategy are most Skypers using? Should I allign my learning to the main strategies within that group?

Thanks in advance!
M

Hi

The guidelines are the same for everyone. If you join skype or not. this is what we advise

1. Read and Understand The Setup EBook.
2. Read and Understand The Fruit eBook
3. Read and Understand Activating the Zone and apply the techniques
4. Read and Understand The Seed Thread.

Also, its best to read Grant's Journal, Immy's journals, and Michael Zlabingers Journal. There are some other good ones as well. But this will set you up for all.

The most important bit is Writing your Trading Plan and incorporating The T20 principle into it. The most important bit that you have to focus on, is how to be disicipplined. No matter how much you know about the strategy, the market and the universe, if you are not disciplined its all useless. Skype is the best "resource" to remain disciplined and keep in touch with the latest developments. etc.

cheers

Hope this helps.

[MaxZen]

Hi trading team

I'm a new member and am looking forward to learning and contributing to this collective

I have read the through the documents and would appreciate Immy's thoughts on where best to start in terms of adopting a strategy. Do you still recommend starting with The Setup? I also plan to join the Skype group later this week. Which strategy are most Skypers using? Should I allign my learning to the main strategies within that group?

Thanks in advance!
M

Hi

The guidelines are the same for everyone. If you join skype or not. this is what we advise

1. Read and Understand The Setup EBook.
2. Read and Understand The Fruit eBook
3. Read and Understand Activating the Zone and apply the techniques
4. Read and Understand The Seed Thread.

Also, its best to read Grant's Journal, Immy's journals, and Michael Zlabingers Journal. There are some other good ones as well. But this will set you up for all.

The most important bit is Writing your Trading Plan and incorporating The T20 principle into it. The most important bit that you have to focus on, is how to be disicipplined. No matter how much you know about the strategy, the market and the universe, if you are not disciplined its all useless. Skype is the best "resource" to remain disciplined and keep in touch with the latest developments. etc.

cheers

Hope this helps.

Thanks Immy - I am working my way through The Seed thread now. There doesn't seem to be any indicators at the bottom of your first post in this thread. The language in the threads (and others pointing to it) suggest that they should be at the bottom of you first post.. Am I missing something?

Cheers,
M

[zlabis]

Hi Max,
it's great that you've found a way to get here )

Current Seed indicator we're using in Skype room is according to Grant's flow chart and can be found in 2nd post of the Seed.thread: http://www.itradeaims.net/forum/viewtop ... 980#p12161

Grant's Rules Seed flowchart can be found here: http://www.itradeaims.net/forum/viewtop ... 240#p19943

If I may express my opinion here, then I would say, understanding Setup 1 (S1) and Setup 2 (S2) in combination with AIMS Waves- or Snorm's eWaves-Indicator, which are both based on Bill Williams Awesome Oscillator, is the essential core of the system, IMHO.
Utilisation of AIMS Waves-indy is discribed here: http://www.itradeaims.net/forum/viewtop ... f=61&t=272
A more advanced version of AIMS Waves is Snorm's eWave discribed and linked to here: http://www.itradeaims.net/forum/viewtopic.php?f=4&t=657

Seed is direct derivate of Setup 1 or 2 on on 5x lower time frames.

Fruit has a different approach than S1 or S2, but without understanding the basic structure of movement on which S1&S2 is based on, you can't take full advantage of Fruit either.

At the final stage you've got a system with a couple of entry- and exit-techniques for breakout-, trend- and counter trend-conditions in form of S1&S2, Seed and Fruit along with some special concepts (Cherry, Principle C, The Famous, Divergency Candles,...) which can be discovered at given time.

But to be honest, I think that starting trading actively on demo account at the learning phase, after you've read The Setup-ebook, is at least as important as studying the ebooks. You can read 100 books about a sport but without doing and practising it with a trainer, you will not learn it. The same is true for trading, IMHO. If you've got the possibility joining Skype room I would strongly recommend doing it for learning purpose and for fun by trading together with other AIMSters. There you will get infos at first hand from Immy, Grant and other senior AIMSters. After one year of hanging around with these guys in Skype room for only two hours daily, AIMS already got some sort of second nature of mine.

Finally, as Immy has already pointed out, the absolute most important part of trading is discipline, IMHO. Discipline by strictly following entry rules. Discipline by strictly following exit rules. Super-discipline by super-strictly following money management rules. Discipline by strictly keeping an up to date journal. Discipline by keeping records of all trades and analysing them regularely. Discipline by writing a personal trading plan. Discipline by disconnecting from trading outside hours which are reserved for trading activities (chart time + paper work).

Cheers
Michael

[bluediamond81]

Hi Max,
it's great that you've found a way to get here )

Current Seed indicator we're using in Skype room is according to Grant's flow chart and can be found in 2nd post of the Seed.thread: http://www.itradeaims.net/forum/viewtop ... 980#p12161

Grant's Rules Seed flowchart can be found here: http://www.itradeaims.net/forum/viewtop ... 240#p19943

If I may express my opinion here, then I would say, understanding Setup 1 (S1) and Setup 2 (S2) in combination with AIMS Waves- or Snorm's eWaves-Indicator, which are both based on Bill Williams Awesome Oscillator, is the essential core of the system, IMHO.
Utilisation of AIMS Waves-indy is discribed here: http://www.itradeaims.net/forum/viewtop ... f=61&t=272
A more advanced version of AIMS Waves is Snorm's eWave discribed and linked to here: http://www.itradeaims.net/forum/viewtopic.php?f=4&t=657

Seed is direct derivate of Setup 1 or 2 on on 5x lower time frames.

Fruit has a different approach than S1 or S2, but without understanding the basic structure of movement on which S1&S2 is based on, you can't take full advantage of Fruit either.

At the final stage you've got a system with a couple of entry- and exit-techniques for breakout-, trend- and counter trend-conditions in form of S1&S2, Seed and Fruit along with some special concepts (Cherry, Principle C, The Famous, Divergency Candles,...) which can be discovered at given time.

But to be honest, I think that starting trading actively on demo account at the learning phase, after you've read The Setup-ebook, is at least as important as studying the ebooks. You can read 100 books about a sport but without doing and practising it with a trainer, you will not learn it. The same is true for trading, IMHO. If you've got the possibility joining Skype room I would strongly recommend doing it for learning purpose and for fun by trading together with other AIMSters. There you will get infos at first hand from Immy, Grant and other senior AIMSters. After one year of hanging around with these guys in Skype room for only two hours daily, AIMS already got some sort of second nature of mine.

Finally, as Immy has already pointed out, the absolute most important part of trading is discipline, IMHO. Discipline by strictly following entry rules. Discipline by strictly following exit rules. Super-discipline by super-strictly following money management rules. Discipline by strictly keeping an up to date journal. Discipline by keeping records of all trades and analysing them regularely. Discipline by writing a personal trading plan. Discipline by disconnecting from trading outside hours which are reserved for trading activities (chart time + paper work).

Cheers
Michael

Hi Michael,

Excellent post! You're such a master of words!
This should be an overview plan for any newbie AIMSter.
Many tks.

All best,
Lam

[baldeagle]

As another Newbie, I too have been looking for guidance about how to sort through and learn from all of the great info on Aims. Thanks to Max for getting this thread started and to Immy and others for taking the time to comment. Now I have a blueprint to follow to create my trading plan.

Ed Abbott