Setup 2

[Grant]

Hi Grant, I much prefer to trade of a single chart, so how do you get the 5m Aims levels on the 1m chart.
Also what are the two prices in the bottom right hand corner of the chart and what do you use the 2xATR(14) for?

And going back to my original question ih this thread, on a Setup 2 entry how many bars after the dotis allowable for an Aims level change.

I really appreciate your help/

Thanks John.

HI John,

to get the m5 levels on the m1 chart i manually use the fib retrace tool showing only 1 level and move it every time the m5 prints a new aims level. its a 10 sec job when a new level appears and is confirmed.

the prices are bid/ask as Steve says and i have attached the indy here for you

as for ATR, when imran and i were developing the system, we based our initial SL on the ATR value. we have since moved on with the trade management so don't use it anymore and i haven't removed it from my charts. I will do so now so not confuse anyone.... lol

hope this helps

Grant

[jayvee]

Thanks Grant and Steve.

Just have one question after the dot how many new candles will invalidate the dot while waiting for a fresh Aims level.

Thanks a lot John.

[Grant]

Thanks Grant and Steve.

Just have one question after the dot how many new candles will invalidate the dot while waiting for a fresh Aims level.

Thanks a lot John.

i don't have a rule for how many candles John, its usually the AO that determines the validity of the set up once a new aims appears..

cheers

Grant

ps here is the indy i forgot to attach earlier..... (rofl)

[jayvee]

Thanks again for your help Grant

John

[humpha]

Grant,
I know this may be written some where else in the forum but what is the theory behind waiting for the new aims level? In the example you posted once the aims level was broken after the dot you would of made an extra 4-5 pips. Is it a measure of trend strength. ?

Thank again for posting your journal, you can read about discipline all day but to watch someone do it every day gives us all inspiration to trade, all the best.

[Grant]

Hi Humpha,

To answer your question, Dots "usually" but not always appear on the 1-2 waves of a wave sequence.

Now if the dot candle breaks aims then there is a high probability that the dot has appeared at the low of wave 1 so a pull back for wave 2 can be expected. If you had entered with out the new aism level that the wave 1 low creates then the trigger candle SL should have been hit when the pullback for wave 2 printed...

Thus waiting for a new aims will still get you into the 3rd wave of that sequence. Admittedly this being forex sometimes price just disappears and doesst give an entry but more often than not it will...

As for the example above if i had entered earlier then i think my trigger candle SL would have been hit for a rent. Waiting for a fresh aims saved me that rent and paid me some +pips.

Hope this helps.

Grant

[humpha]

Thanks Grant, great reply, I have also gone back and read the manual again to re-inforce the setup, I am learning greatly from this forum, many thanks to all the contributors.

[pipvic]

Another newbie question.

According to the manual, for Setup 1 we look for a sleeping alligator inside the AIMS box.
For Setup 2, do we look for an awake alligator inside the AIMS box also or do we look at the ends of the lines?

[Grant]

Hi pip,

its where the end of the lines are at the time of the dot....

cheers
Grant

[pipvic]

Hi pip,

its where the end of the lines are at the time of the dot....

cheers
Grant

Ok, thanks.