euro morning ideas

[evilmeatball]

hey all i just woke up to see this on my screen. anyone care to comment?

i've attached my "thinking" to the chart and etc..

[Herbert]

Hey Alexander. Nice ideas there.

Just be carefull to use divergence as exit method. To use it one needs strong confirmation that price has turned for good as "live" divergence at the time get's "overridden" quite frequently by price continuation. Looking back historically it makes sense after the fact.

Example is on your long after w3 AO peak where price retrace to continue in original direction. Granted, no counter dot appeared but AO showed momentum loss.
The call then comes from your trade plan/scenario.

As per AIMs we use divergence to identify a w5 after w3. I have seen MANY w5 "live" divergence turn into a full blown higher cycle w3 thereby cutting profit too early. The provided AIMS methods of momentum loss/monitoring is a good place to start if you are new to the strategy, your own skill-set built on that, allows you into advanced methods.

My basic contribution, by all means expand your skill-set, just ensure it is formulated on the well-proven AIMS principles. That is realistic trading freedom... \m/

Herbert

[evilmeatball]

thank you for the information!

as per the div +1 pip exit, i generally lock in trades if i can once i notice divergence. but the +20 pip trades where just up there, thats something else. rr 1:2 can be a good place to exit or at least closing partial positioning. if you ask me



however i must ask you about one other thing.. there is a video i found on the site: http://www.itradeaims.net/files/videos/ ... -Soon.html" onclick="window.open(this.href);return false;

in this video the stop is moved to bar high +3 pips on entry, and then on +5 pips to -4 from entry point. i understand that this tactic can be good and yield small losses from time to time. but risking little to gain a lot is nice. but how good is it? because i usually move the stop to be+1 once i achieve rr 1:1. so is this method of moving the stop good or what is your take on this?

[Herbert]

I did not look at the video, but that sounds like MM from Grant's method. He is HIGHLY consistent in MM, so i would put a lot of weight on that method within all his trade parameters. His complete plan can be found in his journal and elsewhere in the forum.

I like to use be+2 at upcoming levels of potential reversal while in profit, ie. previous s/l levels, fibs,ma's etc , reversing dot, candle PA.
As the main strategy is to get a setup 1 into impulse w3>>>>>momentum wave, there should be minimal drawdown triggering early SL placements.

Personal preference is key.
Herbert

[evilmeatball]

I did not look at the video, but that sounds like MM from Grant's method. He is HIGHLY consistent in MM, so i would put a lot of weight on that method within all his trade parameters. His complete plan can be found in his journal and elsewhere in the forum.

I like to use be+2 at upcoming levels of potential reversal while in profit, ie. previous s/l levels, fibs,ma's etc , reversing dot, candle PA.
As the main strategy is to get a setup 1 into impulse w3>>>>>momentum wave, there should be minimal drawdown triggering early SL placements.

Personal preference is key.
Herbert

ah very nice. i completely agree with you on the setup into i.wave3 however i am not that good at finding them yet. but i will be. soon maybe someday I'll go in the pro skype room that i hear about, not there yet though. thx again