Michael's (zlabis) Journal [The Magician]

[zlabis]

I had almost the same trades. But my ability to move sl to be or just to reduce risk is slowed dou to my h1 experience.
Here i saw a super risk managment and control of the trades.
Amazing!
Such trading sessions show who is the real professional!
When it is trending - everyone is Guru, when it is full of whispsaws - only Guru stay alive. One more time - excellent execution!

P.S. Your exit plan - when price cross green/red? Can you share your approach.

Hi Nikita,
thanks for your encouraging words but I'm still far away from being a professional, I'm not more than an advanced beginner. Account- and position-sizes are still peanuts and I have to follow my plan. Maybe in the next years, I will develope becoming a professional if I stick to my plans.

Regarding to exit, I handle Seeds, Cherries and S1/S2 trades based on following rules:

- I take only entries with potential R:R of 1:2 or higher

- Move SL to BE or to new AIMS if 1 : 1 is hit but if trade is hovering around 1:1, I sometimes leave SL untouched until there is signal with or against trade.

- Look out for exits if 1 : 2 is hit (trail 5 consecutive red/green candles, trail AIMS, trail green gator, trail counter fruits)

- Sometimes I use hard TP with 1:2 or more (but not too much like 1:6) at important levels like TZ1 (local or global), AIMS levels of HTFs, purple of M5, swing points

- Exceptional I close trades early, no matter where they are, if there are very strong counter signals which I would consider taking as counter entries (which I don't take as I exclusively trade in direction of purple), i.e. yesterday's trade #3 where 2 strong counter-pinbars at 62.8% local pullback showed that movement against trade had higher probability than further movement in direction of trade, so I placed SL above those pinbars.


For Adam's Apples I use these exit rule:
- targetting TZ1
- standard Fruit 3-stages principle
- Stage 1: SL untouched
- Stage 2: SL untouched or trailing AIMS
- Stage 3: Trailing green gator/AIMS or exit at strong counter fruit if showing up at important level or when rubber band principle is active


For me main difference between Seed/Cherry/S1/S1 and Adam's Apple is that first ones are scalping trades (quick in and out) and second one needs time to develop.

That's it for exit rules - rather simple but not always easy as there is still often some discretion necessary.

Hope it helps a bit ;-)

Cheers
Michael

[zlabis]

Tue. Sept. 08, 2015

Screen time:
LO-session 9:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE

Today was characterised by a very strong up trend which started at about 15 minutes to LO. Although that move was strong and clear it didn't offer too many signals which were according to my entry rules. Only two breakouts could have been considered but they weren't too clear for me either.

Trade 1:
So I waited patiently for a valid signal which showed up at the end of a possible w1-2 into w3 of wave 5. Firstly I placed PO above box, secondly above Cherry and finally abotve Seed where it got triggered. Price stalled for some candles around entry level before it broke out nicely in my direction. It hit 1 : 1 and reversed at 1 : 2. After it formed a new lower AIMS level, I placed SL there, where trade was exited with small +0.2%.

Today's result: +4.0p = +0.2% , DS = 1 / 1 , 2.00 hrs

I'm very proud of my discipline today that I didn'd force entries and waited patiently for valid signals, what is not the easiest task during such lovely moves without signals.

[Nikita]

Thanks a lot for sharing. Great discipline today!

P.S. where i can read about cherry?

[zlabis]

Thanks a lot for sharing. Great discipline today!

P.S. where i can read about cherry?

It's exclusively discussed and available in AIMS Skype group ;-)

[zlabis]

Wed. Sept. 09, 2015

Screen time:
LO-session 8:30 - 11:00 (GMT+2) M1/M5 DAX only - LIVE
Evening-session 17:25 - 17:45 (GMT+2) M1/M5 DAX only - LIVE

Today I started a bit earlier than recently because I've noticed that, with Seed/Cherry/S1&S2 we're not as depending on bigger moves than with Fruits and FO sessions offered some very nice opportunities in last weeks.

Trade 1:
It was a good decission because a few minutes after opening Charts a good S1 (or more an S2) long presented itself and I had TP at 1 : 2 right below last swing high, where it exited with +2.0% - great start into the day.

Trade 2:
I had the feeling that there was enough up momentum for LO breakout that I was confident and placed a PO above another S1. Pattern and price action was promising but it simply failed as it returned only a few seconds and with not even 1 Pip after entry was triggered. It hit init SL with -1.0%. Next ;-)

Trade 3:
Wave count and structure was a bit disrupted due to that huge FO candle of abaout 150p but now there formed an AA right at purple into w5 after zigzag correction. I was a bit late with entry so opened the trade into open, still valid signal. I managed it like Fruit and exited it by trailing green gator with +3.1% due to mini SL of only 5.7p. Exit was a bit late, could have exited below good counter fruit, but I wanted to give it enough room to develop towards TZ1 as there was good potential for it.

Trade 4:
Monarch Seed after it turned out that previous down-move wasn't correction but imoulsive new w5 (later even w3). Micro TZ1 was far enough away at about 1 : 3, so I placed TP there. After order was filled price moved up and down for a while without hitting 1 : 1 so SL remained untouched. Unfortunately, before it finally broke out it touched 1:1 -> SL to BE where it kicked out the trade with +/-0%.

That was it for the morning session and I hadn't planned further trading but in the afternoon, when I wanted to do my trading aftermath with screen shots and analysis, I saw that beautiful charts ant took =>

Trade 5:
M5 was trending down VERY dynamicly and M1 was pulling back after breakout. I simply waited for some minutes and then there showed up a good Monarch Seed. I placed PO below Seed but canceled it as there was painting a Cherry two candles later which was now my signal bar for a new PO. It got filled immediately. I placed TP right at micro TZ1 which had a distance of about 1:2 from entry so a reasonable possible R:R. Price moved down and touched TP easily with +2.1%.

Today's result: +43.6p = +6.3% , DS = 5 / 5 , 3.00 hrs

Thank you market!!! Trading M1 in direction of M5 and towards TZ1 helps me staying in tune with market and take advantage of it's structure (= Elliott Waves).

[zlabis]

Thu. Sept. 10, 2015

Screen time:
LO-session 9:00 - 11:00 (GMT+2) M1/M5 DAX only - LIVE
late LO-session 11:30 - 12:00 (GMT+2) M1/M5 DAX only - LIVE
NEO-session 15:30 - 16:45 (GMT+2) M1/M5 DAX only - LIVE

I wanted to come to charts earlier but I didn't make it before LO. It was great to see that it was moving with good volatility so I was confident that there will be good opportunities for valid signals. There was a great up move but unfortunately DAX didn't bring up valid signals for entry into that move. There was a Seed and a Cherry at the beginning but they weren't valid as eWave (AO) didn't show correct pattern (last peak was lower than previous one).
I waited patiently for a pullback but when it really happened and painted a couple of valid Fruits, I was not focused so I missed them. After that I had to wait for a reset of eWave.

Trade 1:
The previous up-move was followed by a strong, impulsive down-move with a cross of purple. That, and M5 gator to down-side was sign for short trades. At a small pullback there showed up a Monarch Cherry which simlpy didn't work out and got exited at init SL with -1.0%.
After that failed Cherry I wanted to be part of possible further down-move (possible w5 of w3), I was tempted to place POs at following short signals which were invalid to be exact for the same reason as mentioned above at start of up-move right after LO.

Trade 2:
After my LO session was over, I prepared everything for a viewing appointment which got canceled by customer, so I had more time for trading. When I opened chart again, a good up-move was already in progress and short after that it pulled back. First signal, a Cherry, failed and was exited at init SL with -1.0%.

Trade 3:
After Trade 2 failed there was a PC and a nice S2 which I took gratefully. Box was only 12p big and micro TZ1 was far enough away (bit more than 1 : 2), where I placed my TP. It worked out very well and it hit TP with +2.1% - nice ;-)

I had some time left so used it for a NEO session:

Trade 4:
Cherry after peak of AO. TP at micro TZ1 placed. It broke 1 : 1 so I placed SL to entry level. It peaked two times in which second one nearly touched TP. That bar formed a down fruit below which I exited trade manually with +1.2%.

Trade 5:
Adam's Apple according to my rules but M1 and M5 showed contradictory information although M5 gator was opened to the up-side. For that reason I reduced risk for that trade to 0.5%. Right at the trigger candle price reversed and it hit init SL wit -0.5%.

Trade 6:
Up move was stronger than previous down move so I decided to take a good Monarch Cherry after price had crossed purple. Peter had called in Skype AIMS group. Micro TZ1 was exactly at 1 : 2 level where TP got hit with +2.0%.

Today's result: +43.9p = +2.8% , DS = 6 / 6 , 3.75 hrs

[Nikita]

Mic, can you share your cherry indy setting? I want to chery bars appear just like on your chart, without seeds and othe lines.

[zlabis]

Fri. Sept. 11, 2015

Screen time:
LO-session 9:00 - 10:45 (GMT+2) M1/M5 DAX only - LIVE

All I can say about DAX this LO session: simply spectacular. Immy was able to make +23%, other AIMSters were highly profitable as well and my +8% aren't bad either ;-)

One candle after LO it broke out to the downside where I had my first PO => Trade 1

Trade 1:
S1 to the downside with a bit big SL of 18p but it went down nicely and hit 1 : 1 with ease. Because of the big SL I placed hard TP at 1 : 2 but I miscalculated it and placed it in reallity at 1 : 2.5 where it got his anyway with +2.5%

Trade 2:
A good Monarch Cherry/Monarch Seed combination which got stopped out at BE with +/-0.0%. This time SL was too close for taking advantage of well-anticipated down move, but that trade management which brings SL to BE if 1:1 is hit often saves me from rents on the other hand, so no regrets here, hehe ;-)

Trade 3:
Very good signal - a pinbar Cherry which followed a Seed after AO (eWave) had freshly peaked. This pattern (pinbar after Seed) has been identified and named "AIMS The Bud" by Immy some time ago. Although pattern and conditions were nearly perfect it simply didn't work out and init SL was hit with -1.0%.

Trade 4:
As volatility was high and structure of market (M1 and M5) was obvious, I was very confident taking that lovely Fruit right at purple at 50% pullback. My target was at macro TZ1 (top of w5). so I placed TP some Pips above already drawn TZ1 level. It pulled back a bit at a resistance area and formed a perfect, tiny Monarch Cherry at that pullback but I was not willing to add on as I already had a position short. Anyway, after that, it went broke out strongly to the downside and triggered TP with +6.4%

What a great day of trading.

Time for gratitude:
As I've already written in skype group, I want to say that I'm very, very grateful about AIMS system provided by Immy, Grant and Steve and also about support and mentoring from Immy, senior AIMSters and all others. After playing football in my youth and as young adult, it's now the first time that I've found an occupation that I'm fully devoted and commited to with high success. And everybody here have great influence on it!!! And I also have to say "Thank you" to my wife Claudia, who was and is a big mental and practical support right from the beginning. She has the very important function as a supervisor (not technically but risk- and money-wise) and we're reviewing all daily confirmations from broker of the week at the following weekend, so I'm forced to stay disciplined, what I've promised her.

Today's results: + 102.1 Pips = + 8.0% , DS = 4 / 4 , 1.75 hrs


Result of week 37, 07.09.-11.09.2015 - M1/M5 live:
Mon. 07.09. -6.4p = -1.2%, DS 7/7, 2.00 hrs, M1/M5
Tue. 08.09. +4.0p = +0.2%, DS 1/1, 2.00 hrs, M1/M5
Wed. 09.09. +43.6p = +6.3%, DS = 5/5, 3.00 hrs, M1/M5
Thu. 10.09. +43.9p = +2.8%, DS = 6/6, 3,75 hrs, M1/M5
Fri . 11.09. +102.1p = +7.9%, DS = 4/4, 1,75 hrs, M1/M5
-----------------------------------------------------------------------------------------------------------------------------------
Result ...... +187.2p = +15,9% (with compounding), DS 23 / 23 (100%), 12.50 hrs

Great week again. Was very much fun and joy while trading.

This week I've tried to let unused, "missed" opportunities simply go immediately and not to stick mentally to or ponder about them what always tended to cause a short blockade. I've also tried to be friendly to myself even if something was executed not perfectly. And, according to Mark Douglas, I must not beat up myself for mistakes but I have to try to identify those mistakes and work on them in a calm and generoulsy manner.

[immy]

What a great post Michael... Great discipline. We are honoured to have you among us.

[Tomi]

You have an excellent positive influence to all of us. Keep it going and thank you for your efforts.

BTW....you use older fruit indicator than 4.0, right? ForexTester fruit indicator shows fruits inside of AIMS boxes and maybe I will switch to that style also as live and simulation would be in sync.