THE NEW Strategy --- THe iMi Method

[Darren]

Another lesson learned today. I skipped the swissy and UJ seeds as I thought the seeds were similar size to the preceding bars, but I took the GU seed which happened to be the only non moving pair today! Rent paid.

[immy]

Another lesson learned today. I skipped the swissy and UJ seeds as I thought the seeds were similar size to the preceding bars, but I took the GU seed which happened to be the only non moving pair today! Rent paid.

No worries mate, you'll get the hang of it. Why not demo it for a month of two so that you develop the sense for it. This way, you will be able to take trades with no fear, "who gives a shit" attitude. but may be its too "carefree" for you. Managing demo accounts require a different kind of discipline otherwise its useless.

[Darren]

I will stick to the real account as I do get a bit 'gun ho' with demo's!

[immy]

Nothing for me Yesterday. UJ and Swissy seeds were good and they worked really well. Should have taken it but i was not in the zone and busy with other stuff so decided to skip it. Looking forward to today's session.

oh boy... i know how you feel. Man, when I'm busy and rushed by so many other things, trading is certainly not fun. And we end up taking bad decisions.

The Boxeed method does require sharp attention at the top of the hours. ITs NOT like your usual Setup 1. Setup 1 is much slower on h1, do you know why?

Well let me say what I think. That is because your Setup 1 box is created with at least 5 candles and it could be as many as 2 days worth of h1 data. So that actually is a bit slower than even trading Seeds on lets say H4 chart. And you may even find that Boxeed on H1 might be a bit too fast for some. that is ok too. So again, it depends on what we want from trading, and what is our longer term goal and plan etc etc.

Hope to see you in the zone soon... (hug)

@Darren: yes that seem to work for me too.

correlation analysis: i tend to refrain myself from it, but the markets always have a way to get to me. and somehow I end up doing it. I don't want to do that, what I want to do is whic one is moving today,

[immy]

An IDEA:

I believe we should have our own touch to how we trade this method.

e.g. I can see that Darren cannot live without his gator box and ewave. I'd say that is absolutely fine, but... then USE gator as a filter plus the daily open. And lets see how he does with that. i'm sure it will be A GOLDEN recipe.

Again the same goes for Sam and even pedro. meanwhile PP and I will trade it it the naked way. But tbh, even i may not be trading it the naked way, because in order to spot hunt and setup 1 setups, i end up doing the analysis and being a human, i think even if I try my best, that analysis might always have its effects on me. Unless I switch off from everything and focus on this alone (which will be really awesome but I can't)

[Darren]

An IDEA:

I believe we should have our own touch to how we trade this method.

e.g. I can see that Darren cannot live without his gator box and ewave. I'd say that is absolutely fine, but... then USE gator as a filter plus the daily open. And lets see how he does with that. i'm sure it will be A GOLDEN recipe.

I will have a look into that!

[Darren]

2 trades today, both FT now.

EU looked like if it broke the lows on 7/10 there was a bit of space to fall into which is what it is currently doing! Trailing fractals now.

2016-10-11_2050EU.png

UJ looked like it might be peaking. Currently trailing fractals.

2016-10-11_2046UJ.png

There wasn't a signal on GU which was a shame, and Swissy did have a seed at 16:00 but it looked a little big in comparison to the other candles so I skipped it.

[immy]

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

[immy]

I want to record this...

[11/10/2016 14:35:39] Immy - AIMS: @PP, why can't you accept simplicity?
[11/10/2016 14:36:11] Immy - AIMS: Actually do a back test on EU only you'll be amazed at the profitability of trading only one pair.
[11/10/2016 14:36:22] Immy - AIMS: hi, just sat down again. for a few minutes
[11/10/2016 14:36:51] Immy - AIMS: Simple means LESS.... GET IT
[11/10/2016 14:37:01] Immy - AIMS: COMPLEX means MANY
[11/10/2016 14:38:23] Immy - AIMS: usually, from my experience, I have seen that strategies with HIGH WIN rate but with fixed Stop losses management, or strict stop loss management, require Complex analysis in terms of "choosing" the trade.
[11/10/2016 14:39:07] Immy - AIMS: The simpler strategies really calls for "counter intuitive" trades at times, as its focus is NOT, repeat NOT on the refinement of "best signals" rather it stays on the the refinement of GREAT exits ...
[11/10/2016 14:39:50] pankaj_pandekar: [11 October 2016 14:36] Immy - AIMS:

<<< Simple means LESS.... GET IT
COMPLEX means MANY(bow)
[11/10/2016 14:40:16 | Edited 14:40:41] Immy - AIMS: e.g. I would take literally every seed/ (boXeed) and I don't care which way it goes, what I want to know is when it does turn into an FT ... how do I benefit from it , how do I milk it ... by letting it run a much as possible.
[11/10/2016 14:40:22] pankaj_pandekar: [11 October 2016 14:39] Immy - AIMS:

<<< The simpler strategies really calls for "counter intuitive" trades at times, as its focus is NOT, repeat NOT on the refinement of "best signals" rather it stays on the the refinement of GREAT exitsSomething to pin down in your office )
[11/10/2016 14:40:52] Immy - AIMS: (bow)
[11/10/2016 14:40:55] Immy - AIMS: (blush)
[11/10/2016 14:43:40] Immy - AIMS: in the markets, you can almost always find a reason or bunch of them to justify any trading decision depending on your perspective. so which way are you going to take... do you prefer the complexity and the challenge of chossing the trades with the higest probability of hitting a certain target point or do you prefer to take entries based on a simple but robust method and then focus on finding ways to allow those "FT's" to trun into muti trade structures .... what is it that suits your personality. It all comes down to the first question in the trading plan, that nobody spends 2 minutes thinking about that took me nearly 3 weeks to answer even though I had been trading for well over 5 years before that question.
[11/10/2016 14:45:14] Immy - AIMS: Why Do I trade? or What Do I want from my trading business? What is it that I'm after. Is it just the money? Is it the fun of it? is it the glory of it? is it the feeling? or is it more than that?
[11/10/2016 14:46:50] Immy - AIMS: When you have thought about it and created a vision, and then learned to FOCUS and RE-=FOCUS on that vision that breaks down into your yearly, monthly daily goals and objectives, you become DISCIPLINED without even trying... and when this process continues for a longer time, you forget how you got there and start trading in a state of mind where you know without knowing how you know, you just know.
[11/10/2016 14:48:28] Immy - AIMS: STOP: before you make an entry into the markets. and ASK this question? WHY AM I TAKING THIS TRADE???? Where is price going? and Where would I exit? ... if you ask these questions many many many trades will be NOT taken. bad impulsive ones will be eliminated and good ones will be taken.
[11/10/2016 14:51:34] Immy - AIMS: STOP: and find the motive behind your trading decisions. Ask "consciously" why am I moving Stop Loss, what am I trying to achieve? Do your "mental" analysis ... focus on that more ... and less on "technical analysis". BEginners spend their entire day focusing on technical analysis. but there isn't much to it. if they just divert the focus on their efforts away from The Chart and its information towards the working of their thoughts, emotions and feelings... they will change they way they see the markets and trade and with it the balances of their accounts, their lifestyles and those of their loved ones and dear to them. (bow)
[11/10/2016 14:51:40] Immy - AIMS: afternoon sermon is over.

[immy]

Well done on catching this one DArren...

nice trade but I'm thinking, I should have held the previous and the ones from 3rd of october... oh well