Forex Trading is a 24 hours business. Trade whenever you feel like trading. There really is no time that you cannot trade these days. As long as you know what you're doing. You know your setup and your belief system is correct. Better if you are in the "knowing" stage but strong belief would do as well. Anyway, was trading this slow moving market and just relaxing. Was about to crash when it finally started moving. Note that pending was put at a level market by grey dotted line. i did not look at it until it was triggerred otherwise i might have brought pending down to fresh aims levels.
AIMS Stress Free Forex Trading produced another stress free 50 pips morning session. The mood in the room was sceptical to begin with but we kept our cool and remain optimistic. Took a few rents but eventually hit the wave. Perfect setup started with a quick -7 rent after a Break Even trade before. This is where many traders get frustrated and leave their desk. But we stayed and traded it. I took a discretionary exit but following blue dot would have got me 52 pips as well. which would have given me more satisfaction but hey, who cares now. NEXT
The following example is not for newbies to try. I play with my charts but decided to share this just to share and give a perspective that this is what we want to do. We want to learn to add on successfully. But not into chop, we want to add on into trends. I inadvertently added into chop. Still managed it successfully but only just.
Some Patience was required for the rest of the day. Price quickly broke out once and then painfully stayed sideways for a period of our an hour and then finally a perfect Setup 1 and long for 40 pips.
Took a trade off a lovely Setup 2 before London Open on a Red Dot. Later at London open another Red dot setup appeared. Both Red dots were inside AIMS which is required. and lovely setup. took full advantage of it. Thank you Thank You Thank You. Lovely Morning!
Edited: Afternoon Session
A Lovely Setup that got me in to Wave 1 and then Setup again into 3 down.
The Power of Adding on and Reverse Pyramiding Money Management Technique
I started this campaign with only .25%. I was not sure, AO had peaked
but then it was around ZL, Alligator was asleep. Purple just above,
perfectly. entered with hesitation but it triggered with style. got back
up and starting coming down. Took setup 2 with a 2% add on. it
continued well. I knew something was brewing. Let it run. survived the
night entered another one for .75% (should have been 1% but mistake)
later added one more at .5%. The last one was a bit late and i really
was thinking of exiting. But realising that AO had created a new peak, I
decided to let it run. Here comes NFP, i was securely in profit so I
thought I'll close at red line close that never happened. let it run.
Was then confused whether to close over weekend or not. So I set a
secure SL right at the spot where 4th entry was. Worked well started
with a huge jump, no retrace. I then switched to H4 and found an AIMS
Level to the left that looked like might be a good exit spot. then put
the fib exp and found that the H4 aims level and fib exp 2.62 (3rd wave
is usually 2.62 of wave 1. That gave confidence (and an excuse) to exit
spot on at 1.4080. Its still not a proper exit signal but I'm very very
happy with 20% account rise. its been 4 weeks since I had a good trade
on H1. partly because markets were a bit sideways and partly because i
dont pay too much attention to my H1 account. (but perhaps I should)