Topher's Journal

[Topher]

I have had a very busy month and have therefore not been active on the forum or able to trade Aims that much. I have been able to grab a few hours during the London open session but that is about it.

I was in two minds whether to post this as the forum has just about dried up. I am one of the guilty ones and have not made any contribution during August, hopefully this will change going forward.

Anyway for the month of August I made 17 trades for +13.5%. All of these trades were on M1 as I have moved away from taking aims trades on the higher time frames.

It would be good to see how other people are doing with this strategy on a monthly basis and overall.

Have a great weekend and a great September.

Richard

[Tomi]

Hi Richard, brilliant trading! You really are a super star. I would like to join the club in the coming months

[Tomi]

Richard, you mentioned LFH Trade Simulator. I just downloaded and tried it. This is a wonderful tool. Because of day job I haven't been able to trade live (starting sabbatical year leave now and have more time..) and I have simulated trading in the evenings by going through the day by stepping candles with F12 key and simulating trades using horizontal lines. This simulator is a very good tool for practicing. A bit difficult to switch time frames and at least my environment is using fixed 4 pips spread (do you have that also or is this broker dependent?) but still this tool will come one of my favorite tools in the future. Thanks for sharing your ideas.
Kind regards, Tomi

[Tomi]

Seems that changing tester spread wasn't that straightforward thing. Here is a working solution: http://www.jeremywhittaker.com/2011/04/ ... change-it/" onclick="window.open(this.href);return false;

[Topher]

Seems that changing tester spread wasn't that straightforward thing. Here is a working solution: http://www.jeremywhittaker.com/2011/04/ ... change-it/" onclick="window.open(this.href);return false;

Tomi

You have brought up a very good point and something that needs checking before every test commences.

The only time I have found an issue with spreads is at 22:00 UK time which is when my Alpari MT4 changes day. I therefore, avoid those times. At present it is showing 1.6 for eur-usd which is the standard spread I have.


Richard

[Sasa]

Dear Topher,
Would you be so kind to let me kniow your stop loss managament rules. How do you move and whan your SL to BE or when do you tighten your stop. This is something I strougle with. I still learn setups bu this is ome of my big issues. But I also hate having SL hit for fwe pips because I move it to early, just to se price continuing my way.

Thanks.

BR

Saša

[Topher]

Dear Topher,
Would you be so kind to let me kniow your stop loss managament rules. How do you move and whan your SL to BE or when do you tighten your stop. This is something I strougle with. I still learn setups bu this is ome of my big issues. But I also hate having SL hit for fwe pips because I move it to early, just to se price continuing my way.

Thanks.

BR

Saša

Sasa

I am very selective on my setups. I look at the long term trend and only trade in that direction. My sl is at the other side of the aims box and look for trades that have 10-15 pips sl. If aims box is smaller I am wary especially if it is only 3-5 pips. Very rarely is my sl less than 10.

PO is set 1pip + spread above/below aims and I place 2 Po's each for half my position size. Depending on how I see the setup and my confidence in the trade I will exit one of the positions at 1:1 and move the remaining sl to a pip below the last candle then trail it from there.

To be honest I don't have a black and white trade management strategy it varies with each trade, however, the above is close to what I do. This method won't suit everyone but what is important to me is it works. I get a descent monthly income from Aims and that is my objective.

Richard

[immy]

Dear Topher,
Would you be so kind to let me kniow your stop loss managament rules. How do you move and whan your SL to BE or when do you tighten your stop. This is something I strougle with. I still learn setups bu this is ome of my big issues. But I also hate having SL hit for fwe pips because I move it to early, just to se price continuing my way.

Thanks.

BR

Saša

Sasa

I am very selective on my setups. I look at the long term trend and only trade in that direction. My sl is at the other side of the aims box and look for trades that have 10-15 pips sl. If aims box is smaller I am wary especially if it is only 3-5 pips. Very rarely is my sl less than 10.

PO is set 1pip + spread above/below aims and I place 2 Po's each for half my position size. Depending on how I see the setup and my confidence in the trade I will exit one of the positions at 1:1 and move the remaining sl to a pip below the last candle then trail it from there.

To be honest I don't have a black and white trade management strategy it varies with each trade, however, the above is close to what I do. This method won't suit everyone but what is important to me is it works. I get a descent monthly income from Aims and that is my objective.

Richard

Richard

I like your trade management. I don't stick to a rule based or pipwise stop loss management. I make my decisions depending on the circumstances and how the market is behaving on that day, on that pair during that session etc. But to start with, for beginners, since they have to look at alot of things, and mostly trading off their left hemisphere (essential during learning process) I'd suggest put SL on the other side of aims and do your MM (position size) from that but close the trade on close of green line = black Dot. It doe not matter how many pips you lose or win, what matters is how many times did you follow your system.

I hope this helps.

[Topher]

I waited all morning for a long setup and my patience paid off with nice +1.11%.

My 2nd sl (trailing last candle) was hit by a pip or so before it took off without me. Not to worry I have my 1st trade of the month.

As you will see it was a black dot trade which is not for everyone, however there was enough room up to the resistance level at 1.26196, all other timeframes were long. This ticked all the boxes for me so I went for it.

I don't usually post these trades on the forum as they don't strictly adhere to the aims setup criteria, however, I had been saying on the chatroom that my bias was long so I thought it might be of interest to see what is possible once you start to read the market and get in tune with it.


Richard

[Dave]

Another nice trade there Richard. Well done!

Dave