Which Aims Level to Consider? (Part 2)

[Pall_Singh]

Hi there,

with regards to a previous topic on 'which Aims level to consider' and assuming that the attachment refers to a M1 chart, I would like to request a further clarification.

The answer given is to take Aims level closest to price on M1 unless M5 Aims is within a few pips.

But this will only apply if alligator's mouth on M5 is open right? If alligator on M5 is intertwined than we would take Aims levels closest to M5 rather than M1 right, even if M5 Aims is like 10pips away from M1 Aims?

Also so far it seems that we take either M1 or M5 Aims level closest to price, depending on the situation. So another point I want to clarify is in which scenario do we take outer Aims level?

Or is it that Inner Aims level on M5 = Outer Aims level on M1?

I hope someone can clarify this further.

Thanks.

Cheers,
Pall

[immy]

An M1 candle 5 times = 1 M5 candle. An Aims level is formed with 5 Candles. So An AIMS level of M5 would translate into 25candles on M1. During those 25candles it is possible that we might see a another aims level on m1.

Now, the most important thing is to minimise our losses. For that the Rule is to enter as close as possible to your exit point.

(This principle if understood can turn a losing trader into hugely successful trader.)

In the example above price seems to be going sideways. In this case trend is not confirmed. So what we need to do is take the outer most AIMS Levels, but at the same time we need to know
- How far is the outer most aims level. e.g. in case taking the outermost aims level means a higher risk, i.e. potential exit point (either the red/green line or opposite side of AIMS Level which ever you chose based on your trading plan) is more than lets say 15pips on m1, then we'd rather do otherwise. Do you want to take the higher risk or you want to leave it. But for this you need to understand what is higher risk and when is what higher risk. As below

In the event that M5 has a clear trend and you just want to make an entry so you can take advantage of the trend, take the inner most aims level. This is because you know that M5 trend is confirmed and by taking the inner most level you reduce your risk, in the event that price does not continue, in that instance, in the direction of the trend of M5.

When Trend is not confirmed on M5:
Taking Inner AIMS Levels = Smaller but Frequent Rents (tiny losing trades but more in number)
Taking Out AIMS Levels = Larger but less frequent Rents

When Trend is Confirmed on M5
Taking inner AIMS level = Smaller and Less Frequent Rents
Taking Outer Most AIMS Level = Larger and Less Frequent Rents

I hope this helps

cheers

[Pall_Singh]

Hi Imran,

Thanks for the reply. I believe my understanding on the system has really improved.

SO just to confirm, the advice is to

1)Use inner aims level on M1 if alligator's mouth on M5 is open and price is going away from the purple line
2)Use outer aims level on M1 if alligator is asleep on M5

For both cases, it is also better if stop loss is less than 15pips.

Am I right?

Thanks

Regards,
Pall

[immy]

Yes Pall! I believe that is the best way forward. Nothing is guaranteed but this would give you that edge that every trader must have.
cheers

many pips to you!

[laurence]

what are inner and outer aims?

[immy]

what are inner and outer aims?

Hi Laurence

The above is the answer to your question. But I'll try again.

[John Wimberley]

Inner and out AIMS refers to the AIMS levels when compared between M1 and M5. M1 is the inner, M5 the outer.

[laurence]

Thanks Immy and Rhino!

[takin]

Dear Immy, Grant, and others who are contributing to AIMS Stress Free Trading---I'm new to Forex (trading in general) but I think I got lucky when I came across your website. You seem to have a solid system and I'm glad to get going in Forex from the start with you guys. Thank you for what you are doing!

I recently opened a paper-trading account and I've been busy reading the forum and all of the great comments from you guys and others like me. I've learned quite a bit in the last couple of days and I think I'm to a point where I can ask a question.

Please clarify which items (A through E) are true.

Thanks!

P.S. I tried to upload in *.jpg and *.png format but for some reason it wouldn't upload so it's in PDF instead. I'll try to figure out how to attach in image format so it's easier to view.

Update: I was able to upload the attachment in image format!

[immy]

Hi

I love questions and thank you for asking. I will try my best to answer your questions. let me first suggest that the best way to upload a picture is to take a picture of your chart using the MT4 save a picture facility. for more please watch this video http://itradeaims.net/forum/viewtopic.php?f=32&t=130" onclick="window.open(this.href);return false;

Please use dimensions such as 800x600 or 1000x800 etc. Your picture is way too big to see

The Concept of inner and outer aims levels has been explained earlier a few times but I'll quickly add here,
Outer AIMS Level means = the outer Most aims level.
Inner AIMS Level = Inner Most AIMS Level.

I assume your questions are about the current aims level towards the right end of chart and not in the middle of the chart.
A. I cannot comment on that indicator lines, but I can see from the chart that the blue line must have been where the m5 aims level is, as you can see on the chart to the left. You check the price level to the right to confirm.
B. is the most current aims level and that second last green candle has pierced it. this is break of first aims level outside alligator's mouth. as you can see at the time when price broke aims levels on m1 price was still inside aims levels on m5. we need to make sure that when we take entries like so, that the m5 aims level is at least 5pips or more away from us. The taller the m5 aims level or Parallel to m1 aims level is the best scenarios.
C.thats the 2nd aims level outside the alligator's mouth. the one before this to the left is the 3rd and the blue line is the 4th the outer most aims level.
D. is the inner most aims level.

I hope this helps