Saturday, 31 March 2012

Refusing to Accept the Obvious

I have observed many traders and found that when its time to trade, traders find 'excuses' not to trade and when the breakout happens they repent and while the market is still moving they start convincing themselves its too late now. Brett puts the following in the start of his very good book. 

"I would argue that this is one incontrovertible law of trading: 

When something important happens in the market, good traders focus on the market and the meaning of the events.

Bad traders focus on themselves and their frustration over missing the events, how they can make up the money they lost, etc.
Incredibly, I have seen traders miss entire trending days because they were busy convincing themselves that they had “missed the move” on the initial breakout."

...Let me give three different, but related, examples of "refusing to accept the obvious":

1) A woman comes to counselling complaining of marital problems. Her husband has been
staying out at night, not spending time with her. He told her he was working late, but she could
not reach him at the office. One time she found someone's belongings in his car--a woman's--
and questioned him. He explained that she had forgotten to take them from the car after he
dropped her off at home following a late day at the office. When the counselor suggested that
perhaps he was having an affair, she expressed anger toward the counselor and insisted that she
just needed to "work on the marriage". Several weeks later, the husband moved out and moved
in with the new woman.

2) A cancer patient has taken a dramatic turn for the worse, and tests confirm massive spread of
the cancer. When the physician raises the issue of hospice care and ways of relieving pain in the
final weeks of life, the family members angrily confront him and insist that he pursue "more
aggressive treatment" so that he could return home and, eventually, get back to work.
Meanwhile, the patient is a virtual skeleton due to weight loss, cannot hold down food, and is
visibly suffering.

3) A victim of abuse in childhood insists that her father was caring and minimizes the pain of her
childhood, despite clear evidence that she was sexually molested, physically beaten, and
frequently humiliated. She insists that she must have done something wrong to upset him, and
will not use the term "abuse" to describe what she went through. She undergoes periods of
depression when, even now, she reaches out to him, only to be rejected.

In all three cases, the difficulty in accepting the obvious is the result of a need to believe something
different. It isn't just that the individual is blinded to reality: it's a desire to perceive a different
reality. In most cases where traders fail to act on breakout moves--or worse, get run over by
them--there is a situation where the trader was actively anticipating a different kind of market.
Once this becomes part of their analysis, it becomes their opinion, and their ego gets caught up in
it. The term traders use is that they become "married to their opinion".

Brett N. Steenbarger - Psychology of Trading

To Remedy this there is a simple solution. The Power of NOW! 

Friday, 30 March 2012

Like iTradeAIMS on Facebook

Hey Guys!

Did you know we are on Facebook? Please LIKE iTradeAIMS Now! 

You may even find some Live Signals if you TWEET. So Lets TWEET shall we?

Here is a Nice Example of Adding on Increase your ROI!

Thursday, 22 March 2012

Euro Dollar produced some great setup today

 EUR/USD was an exciting pair to trade right from London Open. Euro Yen EUR/JPY and USD/JPY alos produced some very nice setups. Pictures below.

Look at this USD/JPY Classic Setup first of all.

Monday, 19 March 2012

Elliott Wave in 1 Second

London Open Started with a typical Monday Morning session with absolutely no movement at all. H1 was retracing back to AIMSigator's mouth. Once the retrace was over it took off nicely. A fantastic setup on M5 followed an supported by a Setup 2 on M1. It was wonderful. When the charts move they create a perfect Elliott Wave all the time. 

A 3% Account Growth on a Wave 5 Trade on M1. It was Still a Wave 3 on M5 and Wave 3 on H1. A great Example of Wave within wave within wave trading.

Friday, 16 March 2012

120 Stress Free Pips on EUR/USD and More

Note: eWave is an Elliott Wave Indicator available for Purchase Separately

A Nice H1 Setup on EUR/GBP

Following is a picture of a nice EG signal created by AIMS Stress Free Trading , care free trading dots! :)  followed by an updated picture when the trade triggered.

after that is a picture of a long on M5 EURJPY

we're in profit and price action suggests that we cannot lose on this trade now.

EUR/JPY M5 Long Setup Blue Dot

Hit the 20 pip Target nicely. Up 1% on this account.

Thursday, 15 March 2012

Three Things to Improve Your Well-Being

"...over two decades of studying with Abraham, I only recall three things that Abraham has ever taught us regarding maintaining, or improving, our physical well-being: 

No.1 Think More good-feeling thoughts. 
No.2 Drink more water
No.3 Breath more deeply" 

Esther and Jerry Hicks, Getting in to Vortex Guided Meditations

Wednesday, 14 March 2012

Extending M1 Strategy to Cable with Success

Today had a great day on GBPUSD this afternoon. With a total of 57 pips and only one -10 rent, traded 2 setups each with add ons made the pie tastier than it already was. Do try this at home. No pips were injured during the making of this pipsarious cable pudding... LOL

During the Trade it Looked liked so...

Tuesday, 13 March 2012

EUR/USD M1 1 percent Growth

Price Broke down on EU but we could not catch it on M1. Waited for price to retrace back and form a nice setup. It did that just afew ZEWRed News and Setup 1 was created. I took 11pips but 15 or even 20 pips were possible making for 2% account growth!

Picture below.

EUR/USD 5 Min 20 pips - Pre London Session Trade

So a nice red dot and tight aims, checked the rules for entry (which took me another 1 second) and we were all set. Exited for 20pips for lack of imagination or reason, but got 20. Now mr. Hindsight says, why the hell did you set 20 pips target.... as always! LOL

Monday, 12 March 2012

Had a play with GBP/USD on M1

Cable had a good run down which we caught on M5 and then presented itself with a nice M1 setup to the south . Grabbed it nicely for a 18 pips though it missed my hard take profit level by a pip... All is Well!

EUR/USD London Session 20 pips

The H1 was retracing back to Alligator's mouth so my perspective was long on EU. I found a setup which looked like going into a fifth wave, but soon turned into a new impulse wave. 20 pips were there to be had! Done for the morning!

Friday, 9 March 2012

A Beautiful Pre-NFP Trade for 37 Pips

Usually I'm not too keen on taking Setups on NFP days but this Setup looked good. It only ever went 4 pips against this M5 position which was not a disaster so I kept my stop loss on the other side of AIMS Levels. (A great trade and money management mechanism, I must admit)

A lovely picture indeed. So Why the exit? well of course there is NFP NEWS to be released in 20 minutes! :)

Wednesday, 7 March 2012

Does the AIMS Setup Work on Higher Time Frames?


Some one asked via the support ticket system whether the system works on higher time frames and if I could show some examples. So I thought I'll take some time out and spend it on this lovely activity. I love playing with charts and finding those lovely money making setups, don't ya? 

First off, we recently have seen a setup with plenty of add on opportunities, which is a great example of trend trading with add ons to maximise ROI! 

The following setup resulted ina 16% account growth in just 5 days. Click to Enlarge

Please see other examples below.

It works pretty well if you ask me, what do you think? 

If a setup does not work on all the time frames, its NOT a good setup! 

Today New York Session +2.4 percent account growth

The London Open was not a bit hit to day. But during the newyork session things started moving a bit and we had two very good trading opportunities. The result was a sweet 2.4% account growth.

An example of USDJPY trade

Today I got a few trades on several different time frames. I selected the odd one to share with you. I rarely get to trade USDJPY due to its very low volatility but today I managed a very good M5 trades. Picture below.

When is it too late or too early to buy a pullback? 

In order to answer this question first ….  Let’s quickly do some repetition. Let’s quickly do some repetition.  Let’s throw in some trading ...