THE NEW Strategy --- THe iMi Method

[Darren]

3 trades for me today.

The Swissy got me in then took me out fairly quickly.

2016-10-12_1940Swissy.png

EU was a similar setup which ended up with a rent. Perhaps the fact that there wasn't much movement in the previous 3 bars meant it could have been filtered, but I felt the trend was fairly strong.

2016-10-12_1941EU.png

UJ looked like if it broke the highs to the left it could be a nice runner. Currently it is a FT trailing Aims...

2016-10-12_1942UJ.png

UJ was taken out trailing Aims:

2016-10-13_0716UJ.png

[immy]

Thank you Darren for updating your posts. This keeps me happy. Nice trade on UJ. And as you know EU and Swissy were ones we could take or avoid depending on what we felt about at that time. you said you thought the trend was fairly strong... well that's that then NEXT

lets see if UJ cna turn into a 5R or 10R winner.

[ppandekar]

Took 2 UJ trades and 1 EU trade this week both BE. Could have held on longer to EU.
Dropped trading Gold and Dax. So now i have Swissy on the list but that's just for analysis. Will be trading only EU GU and UJ. i have decided to trail overnight using D1 candle or H1 box with 10pip buffer.

Still learning but now understand key is to let it run like hell. Need to learn to sit through large corrections and keep accumulating FT's. Eventually something will turn into a large winner.

[immy]

Here are the answer immy.


Question: why 2% risk? or is that your usual? I don't mind really, i think one can go upto 3% on small accounts but the drawdowns are "terrifying" or may be not if its a small account.... but again its a personality thing.

Answer: I take each trade with 2% risk and close half at 1:1 so leave another 1% on the table and let it run. This is the only option i can think of with ATM or go for 2 trades each with 1%. Let me know if you guys know any better way.

2nd Question: i see a mark of target point there. were you "hoping" for a quick 8% winner, felt adventurous went heavier later could not face the fear of 2% loss and ran away? think... before you reply think look inside you... this will be good for you

Answer : I never go for 8% risk immy. I am out of that adventurous now. Done that in past and paid price, been lucky few times as well but those days gone. My max risk is 2-3% on NFP trades. With previous method it was between 1-2% on H1 and 1% on dax and now with BOXSEED 2% (reason i explained in Q1 above).

Hope this clarifies.

Made stupid mistake yesterday. I was in EU with 2% risk and it didn't move before i went to bed so not able to convert to FT by that time. I didn't want to leave with 2% risk so i closed it and realized my mistake after few mins. ~x( i deserve slap from immy.

Realising mistake is more powerful than actually committing the mistake in the first place... well done for recording it and not hiding from it. This will do you good.

I love that template of yours buddy...

Question: why 2% risk? or is that your usual? I don't mind really, i think one can go upto 3% on small accounts but the drawdowns are "terrifying" or may be not if its a small account.... but again its a personality thing.

2nd Question: i see a mark of target point there. were you "hoping" for a quick 8% winner, felt adventurous went heavier later could not face the fear of 2% loss and ran away? think... before you reply think look inside you... this will be good for you

Thanks sam for clarifying. With ATM we put 1R split in 2 by making two entries. set one TP at 1:1 and the other without a TP. How much to risk per trade, is a decision one has to seriously think about and stick to it once that decision is made. The bigger the risk per trade the faster the growth but the "deeper" the drawdowns. Anything above 3% is not healthy. 2% per trade on this method, means some healthy drawdowns but with strong growth.

Good to know that you have taken "risk" seriously. This is the part of trading where gamblers and business people are separated.

[immy]

Took 2 UJ trades and 1 EU trade this week both BE. Could have held on longer to EU.
Dropped trading Gold and Dax. So now i have Swissy on the list but that's just for analysis. Will be trading only EU GU and UJ. i have decided to trail overnight using D1 candle or H1 box with 10pip buffer.

Still learning but now understand key is to let it run like hell. Need to learn to sit through large corrections and keep accumulating FT's. Eventually something will turn into a large winner.

Well done...

[Darren]

No trades from me today. The pairs looked a little tired to me and needed a rest so I was waiting for a strong move then a seed before trading, but that didn't happen. Roll on tomorrow!

[Darren]

Two trades today.

UJ eventually made it a FT and the 2nd half was taken out after the news trailing Aims.

2016-10-14_2102UJ.png

EU struggled to make it to a FT so I took half off a few minutes before the news a couple of pips away from my TP. After the news the TP would have been hit anyway, but the 2nd half was taken out making it a BE trade.

2016-10-14_2108EU.png

[immy]

Thanks Darren for your updates. The two rascals are not updating... they need to be sorted... PP and SAM... final warning. I need a DAILy update...

thank you.

So my trades were the same as Darren, however i did not do the cute things. i have learned one thing. Just take the trade with 1:1 and leave the screen when its triggered. Growth is not a product of managing these rents, its the ability to allow your trades to run... have a good one guys

ps: EU is still running.

[Darren]

No trades for me today. There was a Swissy seed at 10:00 which turned out to be reasonably good but Swissy has been a bit flat for the last few days so I wanted a good break then a seed. There was also a GU seed but it was a bit big for my liking.

Maybe I am filtering too much again ?

[immy]

No trades for me today. There was a Swissy seed at 10:00 which turned out to be reasonably good but Swissy has been a bit flat for the last few days so I wanted a good break then a seed. There was also a GU seed but it was a bit big for my liking.

Maybe I am filtering too much again ?

Filtering too much is far better than trading too much... if trading too much then letting it run for longer time is a requirement to remain profitable in the long run... if looking for smaller targets... being picky is THE KEY... we gotta learn this thing. and try what works for us. but time is against us. so we have to be efficiently progressing forward hitting monthly and yearly targets. if market agrees.

moreover, i think with the gator and AO on the template, you'll automatically tend to filter more. which , to me is fine. because gator is for CURRENT time frame... and if going for daily or 2-3 days profits gator serves the purpose. if going for BIG ones... then gator will incapacitate you to a certain extent...