Immy's Corner [The Setup The Hunt - T20's and more]

[Dave]

Do you constantly get trapped in the maze or the quagmire of 4th wave within a 4th wave trading m1?

Do you often find yourself paying rent long and short and just before the market is ready to break out you run out of your "emotional energy" because of paying too much rent, or crosss your daily loss limit (if you have one, and we all should)?

If that is the case , the answer is to Trade less.

But how do you trade less, if your time frame constantly keeps generating signals?

The anwer is simple. Trade a Time Frame a step higher than you are trading.

If staying on m1 creates many rents for you, try trading m5 for the next 20 trades and see how you performed.
If you're still over trading, then try going above a step. This will help.

In fact, I want to edit the book and ask all beginner to start trading M5 only. Specially M5 EUR/USD. Trade one pair, and trade m5 only. Trade correct side of Purple, trade the dots and follow the flow chart.

This is one of the best and simplest bits of advice I've read to date. If you think M1 is sideways, only take the entry when it sets up on M5. Easy.

[wiseambitions]

Do you constantly get trapped in the maze or the quagmire of 4th wave within a 4th wave trading m1?

Do you often find yourself paying rent long and short and just before the market is ready to break out you run out of your "emotional energy" because of paying too much rent, or crosss your daily loss limit (if you have one, and we all should)?


In fact, I want to edit the book and ask all beginner to start trading M5 only. Specially M5 EUR/USD. Trade one pair, and trade m5 only. Trade correct side of Purple, trade the dots and follow the flow chart.

This is one of the best and simplest bits of advice I've read to date. If you think M1 is sideways, only take the entry when it sets up on M5. Easy.

This morning's problem for me has been on m5 with EJ that the price left the aims box upwards with too much negative momentum on the AO chart, By the time AO crossed zero the price had already climbed half its way so I went away and ignored it ; and likewise at 0930GMT it fell out the bottom of the box with too much upwards momentum on the same. In hindsight there were 10 easy pips either way, but it wasn't a valid setup both times. We are usually told to wait until AO is near zero. M1 timeframe probably said go ahead and trade.

[immy]

Do you constantly get trapped in the maze or the quagmire of 4th wave within a 4th wave trading m1?

Do you often find yourself paying rent long and short and just before the market is ready to break out you run out of your "emotional energy" because of paying too much rent, or crosss your daily loss limit (if you have one, and we all should)?


In fact, I want to edit the book and ask all beginner to start trading M5 only. Specially M5 EUR/USD. Trade one pair, and trade m5 only. Trade correct side of Purple, trade the dots and follow the flow chart.

This is one of the best and simplest bits of advice I've read to date. If you think M1 is sideways, only take the entry when it sets up on M5. Easy.

This morning's problem for me has been on m5 with EJ that the price left the aims box upwards with too much negative momentum on the AO chart, By the time AO crossed zero the price had already climbed half its way so I went away and ignored it ; and likewise at 0930GMT it fell out the bottom of the box with too much upwards momentum on the same. In hindsight there were 10 easy pips either way, but it wasn't a valid setup both times. We are usually told to wait until AO is near zero. M1 timeframe probably said go ahead and trade.

yes, there was no setup on m5. and it moved down on news so no setup even if it was a setup... So even if the picture was right, news increases the risk so high that the potential for profitable trade diminishes. e.g. EU M5 was a nice enough setup down for a 5th wave but gbp news time so rules say, No NEWS trades, which means no setup.

[immy]

GU Short Setup.
Retraced too much back into H1 AIMS box, but I'm gonna try it. Risk is only 10-15 pips.

[immy]

GU Short Setup.
Retraced too much back into H1 AIMS box, but I'm gonna try it. Risk is only 10-15 pips.

Deleted 8-}

[immy]

EJ setup on M5 finally. With an equally lovely setup on m1. This is the essence of this strategy. To get those double setups. We want to be on m5 and make entries on m1. Some people or sometimes we get too lost in m1 chart and forget that we Trade m5 but make entries on m1.

[immy]

EJ setup on M5 finally. With an equally lovely setup on m1. This is the essence of this strategy. To get those double setups. We want to be on m5 and make entries on m1. Some people or sometimes we get too lost in m1 chart and forget that we Trade m5 but make entries on m1.

[immy]

IN trading we should not "Shit like an Elephant and Eat like a Bird".

Lets do the opposite (rofl) . Shit like a bird and eat like an Elephant! Cut the losers short and let the winners run! (rofl) :ymcowboy:

[immy]

Nothing so far! Lets see if NY brings something!

Quite a relaxed trend less and trade-less day... Trade-LESS ...see the point! hehe

[immy]

and Quite a Chat LESS day too... (rofl)