You gotta walk away, because it messes with your mind and instead of trading the setup you start trading your "desire" to make money. unfortunately the market does not respect your wishes and desires other than entering a trade and exiting.wiseambitions wrote:3 hours of whipsaw in ranging markets for me so far this morning
I suppose it's doing this in anticipation of FOMC
I remember Immy saying something like 3 rent ( losing ) trades in a row and he walks away. Don't blame him
Ray's amnesty page
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immy
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Re: Ray's amnesty page
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Hi Immy yes it certainly messes up the mind, and even if one were to trade mechanically according to the "rules" it would just burn up equity as it will sometimes just break aims a bit, enough to trigger a trade, then it takes you to the opposite aims level, and hits the stop losses, of course still hopping one side and the other of the purple line
These doldrums don't last forever though.
Cheers
These doldrums don't last forever though.
Cheers
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
25 pip range on Euro dollar has been excruciating today
Dollar Swisse just falling out of bed @ 17:30 UK time
Dollar Swisse just falling out of bed @ 17:30 UK time
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Thursday and Friday were both calm days in the markets I was watching, eg Euro Dollar and Dollar Swiss etc, with ranges of maybe not more than 30 pips
Difficult not to get eaten up with whipsaw in these conditions, which after the massive move at 19:00 UK time on Wednesday with FOMC just seemed to settle at a new level with not much impetus either way ever since
Hope for more normal market behaviour, indeed Chaos next week
Difficult not to get eaten up with whipsaw in these conditions, which after the massive move at 19:00 UK time on Wednesday with FOMC just seemed to settle at a new level with not much impetus either way ever since
Hope for more normal market behaviour, indeed Chaos next week
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
-
immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Ray's amnesty page
wiseambitions wrote:Thursday and Friday were both calm days in the markets I was watching, eg Euro Dollar and Dollar Swiss etc, with ranges of maybe not more than 30 pips
Difficult not to get eaten up with whipsaw in these conditions, which after the massive move at 19:00 UK time on Wednesday with FOMC just seemed to settle at a new level with not much impetus either way ever since
Hope for more normal market behaviour, indeed Chaos next week
Chaos is NORMAL ! (rofl) But not Chaos in the ordinary sense! Have a Great Weekend!
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Immy wrote on Michal's journal this week:
Hi
We have always always always said, we trade from Frankfurt open to London Close. Markets move when traders express their opinions in the form of participating in the markets buying and selling currencies and stocks. We trade during the times when majority of those people are actually trading. Volatility and Momentum is what we are after. Chances are that there will be more buying and selling during the time when London and European banks are open as compared to times when only Japanese banks are open, especially for euros. So Frankfurt open to london close are the best times. Sometimes, just before NY close things start to roll as well but as Fran mentioned, as soon as NY is closed those 2 hrs between NY close and Wellington open, are Dead Hrs. We do not have to trade 24hrs to make money.
In my experience I would add that quiet times eg 10pm to 12am, the market moves so slowly that the strategy works against you. eg. lots of ranging, and whip, and of course higher bid/offer margins with many brokers. I find it difficult not to lose by trading in such periods. Same could go for a lull which often occurs between about 11am and 1pm. Best times I think are like Immy says - for me 7am to 10am, 1pm to 4:30pm London clocks.
Let me just add that I've been using the strategy for exactly a year now.
Usually my daily profits now are the same as my starting balance was 12 months ago, and that's how much I believe in this !!! If I do have a bad day (yes I often get a couple every week) it's more often than not my own silly fault.
Although I have been trading for about 4 years I have learned a lot in the last 12 months. Not just how to trade, and where success and good luck come from, but also I have learned a lot about myself.
Some lessons are very expensive, and hopefully they are the ones we retain, for example the key to the whole thing is strict money management and trusting the system, with a bit of applied common sense on top. In doing this one must be brave to cut losses and not forget that even the experts can have 5 or more bad trades in a row. Then not to trade in revenge or when your head is messed up by any other pressures. It is also important not to be greedy, yet at the same time to let profits run, with a predefined closing strategy, eg the price goes back and touches the green or red line. Just keep laying the bricks.......
Hi
We have always always always said, we trade from Frankfurt open to London Close. Markets move when traders express their opinions in the form of participating in the markets buying and selling currencies and stocks. We trade during the times when majority of those people are actually trading. Volatility and Momentum is what we are after. Chances are that there will be more buying and selling during the time when London and European banks are open as compared to times when only Japanese banks are open, especially for euros. So Frankfurt open to london close are the best times. Sometimes, just before NY close things start to roll as well but as Fran mentioned, as soon as NY is closed those 2 hrs between NY close and Wellington open, are Dead Hrs. We do not have to trade 24hrs to make money.
In my experience I would add that quiet times eg 10pm to 12am, the market moves so slowly that the strategy works against you. eg. lots of ranging, and whip, and of course higher bid/offer margins with many brokers. I find it difficult not to lose by trading in such periods. Same could go for a lull which often occurs between about 11am and 1pm. Best times I think are like Immy says - for me 7am to 10am, 1pm to 4:30pm London clocks.
Let me just add that I've been using the strategy for exactly a year now.
Usually my daily profits now are the same as my starting balance was 12 months ago, and that's how much I believe in this !!! If I do have a bad day (yes I often get a couple every week) it's more often than not my own silly fault.
Although I have been trading for about 4 years I have learned a lot in the last 12 months. Not just how to trade, and where success and good luck come from, but also I have learned a lot about myself.
Some lessons are very expensive, and hopefully they are the ones we retain, for example the key to the whole thing is strict money management and trusting the system, with a bit of applied common sense on top. In doing this one must be brave to cut losses and not forget that even the experts can have 5 or more bad trades in a row. Then not to trade in revenge or when your head is messed up by any other pressures. It is also important not to be greedy, yet at the same time to let profits run, with a predefined closing strategy, eg the price goes back and touches the green or red line. Just keep laying the bricks.......
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Ah well it's not an NFP day after all...... US government budget-driven shutdown, nobody has done the numbers
I traded this morning and enjoyed some but not all of the rise in the Dollar, it was a straight line up since I got the signal to go long. I just wish I had the tenacity to hold tight because there were 40 pips on the table. More l.ike 100 if I'd done it against the Pound though!
See what the afternoon brings, it might just go quiet now.........................
I traded this morning and enjoyed some but not all of the rise in the Dollar, it was a straight line up since I got the signal to go long. I just wish I had the tenacity to hold tight because there were 40 pips on the table. More l.ike 100 if I'd done it against the Pound though!
See what the afternoon brings, it might just go quiet now.........................
I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
-
francisrama
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Re: Ray's amnesty page
Agree Ray, missed all these moves since was off (no NFP)...
No regret, Monday is another, full of promise ...
KR
No regret, Monday is another, full of promise
...KR
I Am, That I Am!
Fran
Fran
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
A nice little win on the strengthening dollar this morning, using Aims entry rules, with QQE as exit signal, which optimised my gains on that run, as per chart
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I wish more people would come on here to share something on their journals
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
[center]IF YOU CANT EXPLAIN IT SIMPLY YOU DON'T UNDERSTAND IT WELL ENOUGH (Einstein)
1% daily gain, compounded for 250 trading days, (approximately one year) would produce 1103% account growth[/center]
"Markets reflect the positioning of the sum total of investors – they are not driven by something an individual investor knows that the rest of us don’t, but they do to an extent reflect what investors think other investors are thinking and so can diverge in the shorter term from the economic fundamentals."
-
francisrama
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- Posts: 441
- Joined: 12 Jul 2013, 00:58
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Re: Ray's amnesty page
Nice trade Ray!!! I'm currently trying to get a good grasp of QQE. Thx for this hint on EXITING!!!wiseambitions wrote:A nice little win on the strengthening dollar this morning, using Aims entry rules, with QQE as exit signal, which optimised my gains on that run, as per chart
KR
I Am, That I Am!
Fran
Fran