Its morning and its Friday. If you were up for the HD session (ie Frankfurt Open Forex Trading Session at 7am UK 6GMT) You’d have enjoyed a saddle point on the One Minute Chart of the Eur/Usd Forex Pair.
What is a Saddle Point? Well, this is what we do. We want a confirmed trend on the m5, the 5 minute chart, and then we like to find a trade entry on the one-minute chart i.e. the m1.
For months I was wondering if only I could get something to alert me while I was away from my computer. It would save me the headache of checking my charts again and again without any solid reason.
Well, now I have found the answer. I don’t like to clutter my charts with arrows and big symbols but I sure needed something to alert me to the charts. Something visual and audible.
After all, even if you’re trading the busy M1 charts there are periods of inactivity. Hence I thought a sound alert with a dot on the charts would just do that job. I can sit in the sun or perhaps help my better half change the little one’s nappy or something!!!
The Dots and the Distinctive DING! Sound of the AIMS Entry Alert is a quantum leap!
It is important to understand that the markets have a structure and that structure is Elliott Wave (EW) .
And that this structure has a structure as well and that is the AIMS Indicator we call AIMS The Box.
It is also very important to understand that always, always there is an EW of a certain degree between a lower and upper AIMS levels of the AIMS Box. It could be 1-5 sequence or a b c zig zag sequence.
The only problem is counting Elliott Wave (EW).
They all say that if you asked 10 people to count Elliott Wave, the might give you more than 10 different counts on the same chart.
Which actually means we see what we believe is there. We create our own reality.
One sees something the other sees something else. and the funny part is, they are all correct because it’s their reality and its real for them. As long is it works it does not matter whether is true or false. It works.
The solution to that problem is a creative one. It is AIMS AO. You can use AO to count waves and make entries and exits at correct spots.
To time our entries and exit, we use AIMS Wave Indicator or Snorms eWave in the following manner. You cal also use the standar Awesome Oscillator.
No matter what chart, wave or time frame. Any Wave either impulse (which we want) or corrective (that we want to avoid) is an Elliott Wave of a certain degree. We also use AIMS Gator or the Standard MT4 Indicator Alligator which shows the impulse waves that we want to trade. AO, the awesome oscillator shows momentum and wave count. We can achieve this objective with ease.
Here is a 3 Part Video Course which will teach you how to Count Elliott Wave within 10 Seconds Or Less.
How to Count Waves using AIMS Wave Indicator
Step 1. We start from ZL and stay in all the way to the peak. We achieve this by following our 2 setups.
Step 2. We stay away during the journey back to the ZL (the zero line), from peak to ZL. That is how we avoid the choppy price action of the wave 4.
Step 3. We get on from Start to peak, if peak diverges we exit if it creates a new peak continue and then repeat the process.
Something to Get My Attention
In order to achieve the above, all we need is an alert that brings us to screen or brings our attention to the chart when we are about to start a fresh wave or about to finish a wave.
The AIMS Entry Alert V5.1 Indicator would bring your attention to the screen when either one of our setup is about to happen. On top of that, you can let your trade run and wait for another signal to exit.
Visual and Audible Entry Signals
The AIMS Entry Alert V5.1 Indicator does this for us. When you hear an alert or see it, have a quick look at your chart and check the 3 rules.
If the rules are ticked off put a pending and wait for the opposite signal or close the trade when you see an exit signal printed by the indicator. It does that when price close insde the gator’s mouth.
Visual and Audible EXIT Signals
It prints a Black Diamond Dot For long’s when price closes below the green line and for Shorts when price closes above the green line. Exit are explained in the tab above.
> No analysis just wait for indicator to alert you.
But I warn you there is magic in it, but first you must understand the magic of using AIMS Gator Indicator , AIMS Box Indicator and AIMS Wave Indicator.
Once you know what those indicators can do for you, the alert will be a great help.
thanks again from ERik for this very useful post and for ur update in your eu/usd strategy. It s starting tob clearer and clearer for me. I still test it on demo account but you re dead right: I can pay the rent time to time (most of the time due to a bad entry according to the rules) but when i am surfing a wave 3 or 5. You get 3 or more times the money you lost back! Is your dot alert include in your indicator we can purchase? I made some mistakes in entering the trade so read and read again your posts as I read and read the first BW book. Cheers. ERIK
Erik, I'd just like to add here that with correct positions sizing and money management techniques, which i have not talked about yet in much detail, the most profitable way of trading this strategy is to maximise your profits during trends. We are very conservative when its chopy and very aggressive during trends. We can convert a 50pip move into anything between 50-150pips. correctly done, the results could be over 5% per campaign.
3 thoughts on “AIMS Entry Indicator – Cut the thinking and Trade what you see!”
Have you read about the Entry Indicator/Alert?
thanks again from ERik for this very useful post and for ur update in your eu/usd strategy. It s starting tob clearer and clearer for me. I still test it on demo account but you re dead right: I can pay the rent time to time (most of the time due to a bad entry according to the rules) but when i am surfing a wave 3 or 5. You get 3 or more times the money you lost back! Is your dot alert include in your indicator we can purchase? I made some mistakes in entering the trade so read and read again your posts as I read and read the first BW book. Cheers. ERIK
Erik,
I'd just like to add here that with correct positions sizing and money management techniques, which i have not talked about yet in much detail, the most profitable way of trading this strategy is to maximise your profits during trends. We are very conservative when its chopy and very aggressive during trends. We can convert a 50pip move into anything between 50-150pips. correctly done, the results could be over 5% per campaign.