Dear Immy,
I am a premium member of your valuable site.
I first started to trade your AIMS with M1 and M5, but I did not succeed consistently.
So I want to start trading it on the H1 time frame.
While reading and trying to understand about the seed and fruit and some of the setups of H1, I noticed that your chart of H1 shows a number of black AIMS boxes.
I wish to know whether they are of just 15 pips boxes or much more than that..?
I mean that I wish to know what should be the MaxBoxPips parameter for the indicator Aims BoxV5.1..?
And one more doubt..
I am with a 5 digit broker and if I want to have 15 pips for the MaxBoxPips parameter in the AimsBoxV5.1 indicator, should I put it as just 15 or 150.. ?
Kindly clarify soon thro private message..!
Advance thanks..
K V Muralle
AIMS Boxes - Settings for H1
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akshaya
- Free Member
- Posts: 3
- Joined: 14 Sep 2011, 19:34
- 14
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 14
Re: AIMS Boxes - Settings for H1
Hi Thank you for your question.akshaya wrote:Dear Immy,
I am a premium member of your valuable site.
I first started to trade your AIMS with M1 and M5, but I did not succeed consistently.
So I want to start trading it on the H1 time frame.
While reading and trying to understand about the seed and fruit and some of the setups of H1, I noticed that your chart of H1 shows a number of black AIMS boxes.
I wish to know whether they are of just 15 pips boxes or much more than that..?
I mean that I wish to know what should be the MaxBoxPips parameter for the indicator Aims BoxV5.1..?
And one more doubt..
I am with a 5 digit broker and if I want to have 15 pips for the MaxBoxPips parameter in the AimsBoxV5.1 indicator, should I put it as just 15 or 150.. ?
Kindly clarify soon thro private message..!
Advance thanks..
K V Muralle
Firstly could you please tell me how long have you traded M5/M1 and established that it is not profitable? just to let you know it took me nearly 3 years just to get there. never mind, lets go to the next question. ITs a good decision that you want to trade H1 if thats what would best suit your 1. personality, 2. life style 3. account size
Once you decide to apply the template to other time frames, please do this, change the Setting of Max box pips to false. There is no need for this feature on higher time frames. as a guideline anything lessthan 50 pips box for EU,GU, Usdchf, UJ should be fine. But its just a guideline, the rule of thum is, the tights the aims box, the higher the chances of hitting a winning trade with higher Risk to Reward possibility. That is because every pair has a certain normal average wave length for each time frame. E.g EU on H1 creates wave between 50-150 pips on a regular basis and its wave 3 may last between 2-3 days, with 1-2 days wave 4 and 1-2 days wave 5. Thsi is ofcourse just subjective analysis but this is how I understand it. Moreover You don't need to use this feature because on m1 we need to automate things because its m1, that is we have only 55 seconds to respond before things may change again. Rule of thumb, your Stop Loss for a certain time frame must always be half of the average range of that time frame. e..g a pair creates 100 pips average waves on H1 time frame that a 75 pips stop loss won't make sense. Since we calculate our lot size and thus pending order and stop loss locations using AIMS Upper level and lower levels (the distance in pips between upper and lower aims levels) we need to take setups that give us the tightest aims boxes as possible.
We all use 5 digit brokers and the maxboxpips value reflects it correctly.
Lastly I will advise if you're serious about trading START A JOURNAL.
I hope this helps.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
akshaya
- Free Member
- Posts: 3
- Joined: 14 Sep 2011, 19:34
- 14
Re: AIMS Boxes - Settings for H1
Hi Thank you for your question.
Firstly could you please tell me how long have you traded M5/M1 and established that it is not profitable? just to let you know it took me nearly 3 years just to get there.
I was trading AIMS with M1/M5 for a year. Sorry Immy... I did not mean the AIMS Trading System is not profitable with M1/M5.. I meant that I am unable to adapt to those shorter time frames in due course, since I have a day job. So my losses were bigger than my profits. Also as you rightly pointed out, my personality also does not match with those time frames. It took nearly a year for me to understand this. I agree I am very slow in this process. I then realized the power and profitability of higher time frames and now started migrating to them.
And there is NO DOUBT that AIMS is certainly profitable at all TIME FRAMES right from M1 to Monthly.. if it is traded how it ought to be... with right mindset and with right understandings..
[center]PATIENCE + DICIPLINE = CONSISTENTLY SUCCESSFUL[/center]
never mind, lets go to the next question. ITs a good decision that you want to trade H1 if thats what would best suit your 1. personality, 2. life style 3. account size
Once you decide to apply the template to other time frames, please do this, change the Setting of Max box pips to false. There is no need for this feature on higher time frames. as a guideline anything lessthan 50 pips box for EU,GU, Usdchf, UJ should be fine. But its just a guideline, the rule of thum is, the tights the aims box, the higher the chances of hitting a winning trade with higher Risk to Reward possibility. That is because every pair has a certain normal average wave length for each time frame. E.g EU on H1 creates wave between 50-150 pips on a regular basis and its wave 3 may last between 2-3 days, with 1-2 days wave 4 and 1-2 days wave 5. Thsi is ofcourse just subjective analysis but this is how I understand it. Moreover You don't need to use this feature because on m1 we need to automate things because its m1, that is we have only 55 seconds to respond before things may change again. Rule of thumb, your Stop Loss for a certain time frame must always be half of the average range of that time frame. e..g a pair creates 100 pips average waves on H1 time frame that a 75 pips stop loss won't make sense. Since we calculate our lot size and thus pending order and stop loss locations using AIMS Upper level and lower levels (the distance in pips between upper and lower aims levels) we need to take setups that give us the tightest aims boxes as possible.
We all use 5 digit brokers and the maxboxpips value reflects it correctly.
Lastly I will advise if you're serious about trading START A JOURNAL.
I hope this helps.
Thanks a lot Immy for your good guidance. I will try to follow at my trading.
Firstly could you please tell me how long have you traded M5/M1 and established that it is not profitable? just to let you know it took me nearly 3 years just to get there.
I was trading AIMS with M1/M5 for a year. Sorry Immy... I did not mean the AIMS Trading System is not profitable with M1/M5.. I meant that I am unable to adapt to those shorter time frames in due course, since I have a day job. So my losses were bigger than my profits. Also as you rightly pointed out, my personality also does not match with those time frames. It took nearly a year for me to understand this. I agree I am very slow in this process. I then realized the power and profitability of higher time frames and now started migrating to them.
And there is NO DOUBT that AIMS is certainly profitable at all TIME FRAMES right from M1 to Monthly.. if it is traded how it ought to be... with right mindset and with right understandings..
[center]PATIENCE + DICIPLINE = CONSISTENTLY SUCCESSFUL[/center]
never mind, lets go to the next question. ITs a good decision that you want to trade H1 if thats what would best suit your 1. personality, 2. life style 3. account size
Once you decide to apply the template to other time frames, please do this, change the Setting of Max box pips to false. There is no need for this feature on higher time frames. as a guideline anything lessthan 50 pips box for EU,GU, Usdchf, UJ should be fine. But its just a guideline, the rule of thum is, the tights the aims box, the higher the chances of hitting a winning trade with higher Risk to Reward possibility. That is because every pair has a certain normal average wave length for each time frame. E.g EU on H1 creates wave between 50-150 pips on a regular basis and its wave 3 may last between 2-3 days, with 1-2 days wave 4 and 1-2 days wave 5. Thsi is ofcourse just subjective analysis but this is how I understand it. Moreover You don't need to use this feature because on m1 we need to automate things because its m1, that is we have only 55 seconds to respond before things may change again. Rule of thumb, your Stop Loss for a certain time frame must always be half of the average range of that time frame. e..g a pair creates 100 pips average waves on H1 time frame that a 75 pips stop loss won't make sense. Since we calculate our lot size and thus pending order and stop loss locations using AIMS Upper level and lower levels (the distance in pips between upper and lower aims levels) we need to take setups that give us the tightest aims boxes as possible.
We all use 5 digit brokers and the maxboxpips value reflects it correctly.
Lastly I will advise if you're serious about trading START A JOURNAL.
I hope this helps.
Thanks a lot Immy for your good guidance. I will try to follow at my trading.