Skip to main content

Self Sabotage - Traders often face this problem

A problem that might haunt you at some stage of your trading

AIMS Stress Free Trading - Activating The Zone

There is a certain human mental pattern of behaviour that might occur to you when you start live trading or in some stage of your trading. It may even happen to some people while demo trading.

When you are having a losing day you will be more prone to take more trades and suddenly you will find that taking a trade would become so easy. This is because you want to either recover your losses by trading more or you are engaging in "Revenge trading".

But on the day you have your first few trades as winners you will, all of a sudden find it hard to take more trades. This is because you are protecting your profits for the day

The former case would usually be a choppy day and the later usually a moving trending day.

When you find yourself doing this your losing days will often be double or even more of your usual winning days. In some peoples case that losing day often wipes the profit of the entire week if not month.

This is a trait/habit that is not found in consistently successful traders', its not one of their habits or they have learnt to overcome it.

Suggested Actions

So keep an eye on this. keep a max loss for the day limit and don't keep a max win limit. but if you want to keep a limit on the winning day then keep a max loss lets say 50 pips or 3% then put a max win limit of 5 or 6%. something along these lines. Moreover work on integrating the 5 fundamental beliefs about trading found in the first post of my journal.
(Journal is available to AIMS Members Only) 




Popular posts from this blog

Count Elliott Wave within 10 Seconds

After Reading this material you should be able to do the following:
Objective 1. Understand Elliott WaveObjective 2. Count Elliott Wave within 10 SecObjective 3. Learn how to use AO
Objective 1


What is Elliott Wave? 

We believe the market has a structure. That structure is Elliott Wave. We also believe that the structure also has a structure and that structure is shown to us on our charts by using our indicator AIMS Levels. EW consists of impulse waves and corrective waves. We are interested in trading the impulse waves and avoid the corrective waves.


Which wave is most profitable and easy to trade?   


Wave 3 is where we make money. Our strategy puts us right into the impulse waves, where the money is made.


Hypothetically, this is how Elliott Wave looks like.



Within each Impulse wave there are 5 waves.  of which wave 1,3,5,  are again impulse waves whereas wave 2 and 4 are corrective waves.

An impulse wave consists of sequence of 5 waves starting from 1 up 2 down 3 up and 4 down an…

Count Elliott Wave in 10 Sec

Example of Setup 1 and Setup 2. In the Chart below the blue arrow that point to the Red Dot is the spot which we Call Setup 1. The next AIMS/Fractal Level immediately after it broke down is what we call Setup 2. At the Red Dot alligator was sleeping. While at the second break Alligator mouth was open to the downside. 
Updated 11:00 BST

How to Trade Wave 3 Make HUGE PROFITS

The most important thing I learned few years ago was that the market was a wave. Well not the market, but the charts that we look at. It always moves in waves. Someone actually named them after themselves but we don't really need that lovely name (Elliott Wave). Because we don't need to complicate things.

When I talk about waves, I don't mean the popular Elliott Wave. I mean the WAVE we have on the most beautiful indicator called, ahem it has many names, AO, The Awesome Oscillator, The eWave, AIMS Wave etc.  It helps us see the market in a smooth wave going above and below a certain Zero Line. .. It helps you ignore the going up and going down of the price concept. For us technical traders, we don't have an up and down as such specially in forex. All we see is eWave turning Red or Green.

Assuming you already know a bit about the wave. I know most of you will want to know the answer this fantastic question. How to trade the third wave?

They all ask that question, and s…