I found there's a new and quite active thread on forex factory called Fractals zz and the Pissing Dog
These people are combining a perception of fractals (aims levels) with the zig zag indicator and in my opinion getting it completely wrong because they are looking at trades between fractals. I don't think they've made any significant discovery yet, and are the blind leading the blind. They have been analysing thousands of price movements but I've given up tryng to understand where they are at by now. It is not my intention to enlighten them at this time, Immy might like to (?)
The whole point of Profitunity and Aims is to do quite the opposite, and we are looking for movements which extend or break out from recent ranges, where the profitability of those moves is down to our judgement on exit strategy, usually using the distance between the fractals (height of the aims box) as the initial stop loss.
It works, and if we keep doing the same thing most of the time of course that's how we keep laying the bricks............. And it will still work as long as there is a liquid market, in 2014, 2015, 2105 .................
Ray's amnesty page
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
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
A successful colleague who is not an aims member has been trying to tell me since yesterday gbpusd would drop 100 pips this morning after 9:30. It was good news about GDP etc, yet it did spike a fair bit down, but I think there's still upwards momentum, and although I don't want to be 'taken by' an alligator by feeding him (going long), I wouldn't yet put my bets on a 100 pipper down. Aims is proving more often correct than my gold fingered friend. h1 keeps going back in the aims box so there must be strong support there yet. I made my 10 daily pips earlier on another pair so will go out for lunch and see what happens later
You do not have the required permissions to view the files attached to this post.
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
Still keeping to higher TFs I'm in on a trade (short) today on Aussie, currently about 70 pips in the money
But guys, please don't get the idea I get them all right. Sometimes the market demands rent, sometimes it's the penalty for my human error. My target is 10 pips a day if at 1:1 RRW and that is enough to lay bricks
But guys, please don't get the idea I get them all right. Sometimes the market demands rent, sometimes it's the penalty for my human error. My target is 10 pips a day if at 1:1 RRW and that is enough to lay bricks
You do not have the required permissions to view the files attached to this post.
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
Higher TF charts may give one longer to execute an order, for example an s2 this morning on h1/Swisse
I took 24 pips, having trailed the stop by 5 after a while, hoping it would go to the blue FIB extension, but it didn't yet.
24 pips is plenty enough to encourage me, all for about an hour's wait.
In the last few weeks I have become much happier with this way of trading, rather than m1/m5 I have noticed it is probably OK most of the time to calculate the SL just a few pips the wrong side of the green gator line rather than the full depth of the AIMS box when on quite high timeframes.
I took 24 pips, having trailed the stop by 5 after a while, hoping it would go to the blue FIB extension, but it didn't yet.
24 pips is plenty enough to encourage me, all for about an hour's wait.
In the last few weeks I have become much happier with this way of trading, rather than m1/m5 I have noticed it is probably OK most of the time to calculate the SL just a few pips the wrong side of the green gator line rather than the full depth of the AIMS box when on quite high timeframes.
You do not have the required permissions to view the files attached to this post.
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
You don't often get a sleepy alligator on higher TFs, but I'm just watching Aussie on H1 and wondering if it will break aims downwards in which case it could be a strong short entry
You do not have the required permissions to view the files attached to this post.
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
You don't often get a sleepy alligator on higher TFs, but I'm just watching Aussie on H1 and wondering if it will break aims downwards in which case it could be a strong short entry
UPDATE 11.20. TRADE OPENED< 25 PIPS SO FAR \m/
UPDATE 11.20. TRADE OPENED< 25 PIPS SO FAR \m/
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Last edited by wiseambitions on 31 Jan 2014, 11:21, edited 1 time in total.
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
Oh I love it, now broken aims on h4, and has touched 50 pips just about on H1 but is retracing (towards purple on all TFs)
Why don't more of us try this way?
I have charts of the main pairs and look at them, and as well as watching Aims boxes, I use QQE with smoothing factor of 10 to watch for crossovers in long term trends.
I think this suits me even though I may have plenty time daily to watch M1. I don't get them all right by any means, but there is a good delivery of pips.
Why don't more of us try this way?
I have charts of the main pairs and look at them, and as well as watching Aims boxes, I use QQE with smoothing factor of 10 to watch for crossovers in long term trends.
I think this suits me even though I may have plenty time daily to watch M1. I don't get them all right by any means, but there is a good delivery of pips.
You do not have the required permissions to view the files attached to this post.
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
A couple days off from trading is chance to do other things including a bit of study.
I know the site is covered with reminders about controlling emotions and sticking to the plan, but here is an article regurtitating the same stuff in another order, which is always good exercise for the mind.
Secret #1: Stick to ONE strategy.
Find a strategy that makes sense to you and stick to it and it alone like a faithful wife and master it. This is probably the single greatest secret in all of trading. Master ONE strategy. There are no “systems” only strategies that work if you master them. If you jump around from one to another you will never master anything and be forever locked in the sucker's dream of “the system” or the “Holy Grail” of trading. The truth is, all strategies work for the ones using them if they will learn to master them.
Secret #2: YOU are the main secret in trading.
You are the greatest secret in trading. You have been gifted with the fastest computer known to man at your birth and you have the ability to learn, adapt and modify everything you see and come into contact with. The way you “see” things is very different than the way other's “see” things. If you can master “you” and your emotions about trading (talked about in another of the “secrets), you WILL become successful. And that leads us to secret #3.
Secret #3: Simpler is better.
Simpler is always better. The more complex a strategy is, the harder to learn it will be and the easier it will be to make mistakes that will shake your confidence, slow you down and cost you, possibly, years in mastering trading. Anyone who says differently probably has a “system” to sell you.
Secret #4: Accept the “numbers game” view of it.
Mastering trading is not hard. It's just an issue of accepting the “numbers game” of it all. All things have a “probability” ratio or a “numbers game” that creates the success of the effort. Whether it's sports, industry, sales or trading, there is a “numbers game” behind it all. The more you can find an “edge” something you can exploit, the faster you will become will become consistent at your effort and that consistency leads to success.
Secret #5: Master yourself, master your trading.
Your own emotions are the only real “enemy” in all of trading. Brokers who manipulate price feeds cannot defeat you. Market makers who charge large spreads cannot defeat you. The news cannot defeat you. Changing markets cannot defeat you.
Greed is extremely deceptive. It's not wanting to have large accounts, it's not wanting to be wealthy. In trading, greed is none of the normal things you are taught it is. In trading, it's wanting to get that next point when the strategy says your done. It's wanting 30 points when the strategy's rules say 15 is enough. It's wanting to swing for the fences on every single trade. Greed is not being willing to take it slow and allow it to grow. It's not allowing compounding to work and wanting to have it “now.”
Fear will kill your trading and add years to your effort of being successful. The rules of any strategy are designed to take the emotions out of your trading. Allowing yourself to “second guess” the rules is fear. Not taking a trade instantly on the signal is fear. Exiting a trade before the rules call for is fear. Anything that keeps you from following your rules is fear and it short circuits all of your efforts and all of your training and adds years to your trading and robs you of success. You must eliminate it from your trading.
Revenge will destroy you as well. You are not the target of any great conspiracy and the market couldn't care less about your trade or your position. The brokers may want you to be a victim, but trading out of a desire for revenge will skew your thought and twist what you “see” on the charts. It will defeat you as will greed and fear.
Arrogance will destroy you just as fast as either of these others. Trading from the perspective of any emotion will kill your trading.
Arrogance will do it just as fast as greed, fear or revenge. You are NOT mistake proof. Even IF you believe you have mastered a strategy, any strategy you will still make mistakes. Arrogance will lead you to even bigger mistakes, then to revenge to try to make up for it, then to greed to try to get “just a little more” so you can earn back what you lost.
Complacency threatens to bite you after a few good trades. Suddenly you feel bulletproof, and the next thing you know you've made lazy mistakes, abandoned the rules that got you in those good trades, and you're handing back the money you earned. Each trade has nothing to do with the one before and needs just as much attention, caution and care.
Secret #6: There are no makeup trades.
Trade each trade and each session as if it were the only one. Yesterday is gone and does not deserve to be remembered in trading.
The only thing that exists in successful, consistent trading is the trade you are about to place. Make it the best on possible and forget the past so your emotions don't have a place to take hold on you.
Secret #7: Persistence and attitude will overcome everything.
If you believe you can do this, you can. If you do not believe that, quit now. Nothing can stop or defeat you but you. That is true of everything in life, not just trading. It does however apply specifically to trading. Never ever listen to anyone who says you can't trade.
Secret #8: If it's not boring, you are NOT trading correctly.
People love excitement and things that are interesting. SOLID trading is exceptionally boring. One of the hardest battles you will fight is to just trade and not try to “fix it” or “improve it.” or worse, get impatient and “wing it”.
Secret #9: Some days you just have bad days !
Every single athlete of any sport in any age has faced the “gremlins” of a bad day when for no apparent reason, someone whose skill and physical prowess are not even close simply trashes them. There are no reasons, to rationales, no analysis that can stop it. It will happen, but you can limit it! Trading is no different.
This is the reason for rules. They are to supersede your mind, instincts, emotions and all of your efforts to overcome it, which runs counter to everything we have ever been taught in life. STOP! Walk away when you start violating ANY rules, ESPECIALLY the 6 winning trades and STOP or the THREE LOSS and STOP rules!
If you're ever, ever, tempted to not set stop losses as you're sure the market's going your way, STOP TRADING AND WALK AWAY. If you have positions that are open without stops, close them immediately, even at a loss, and shutdown your computer. If you keep trading you will undo days, weeks of hard work in one session.
LEARN to limit your arrogance and pride of how good you have become, or how good your strategy is. LEARN to limit your losses!
Follow the RULES!
I know the site is covered with reminders about controlling emotions and sticking to the plan, but here is an article regurtitating the same stuff in another order, which is always good exercise for the mind.
Secret #1: Stick to ONE strategy.
Find a strategy that makes sense to you and stick to it and it alone like a faithful wife and master it. This is probably the single greatest secret in all of trading. Master ONE strategy. There are no “systems” only strategies that work if you master them. If you jump around from one to another you will never master anything and be forever locked in the sucker's dream of “the system” or the “Holy Grail” of trading. The truth is, all strategies work for the ones using them if they will learn to master them.
Secret #2: YOU are the main secret in trading.
You are the greatest secret in trading. You have been gifted with the fastest computer known to man at your birth and you have the ability to learn, adapt and modify everything you see and come into contact with. The way you “see” things is very different than the way other's “see” things. If you can master “you” and your emotions about trading (talked about in another of the “secrets), you WILL become successful. And that leads us to secret #3.
Secret #3: Simpler is better.
Simpler is always better. The more complex a strategy is, the harder to learn it will be and the easier it will be to make mistakes that will shake your confidence, slow you down and cost you, possibly, years in mastering trading. Anyone who says differently probably has a “system” to sell you.
Secret #4: Accept the “numbers game” view of it.
Mastering trading is not hard. It's just an issue of accepting the “numbers game” of it all. All things have a “probability” ratio or a “numbers game” that creates the success of the effort. Whether it's sports, industry, sales or trading, there is a “numbers game” behind it all. The more you can find an “edge” something you can exploit, the faster you will become will become consistent at your effort and that consistency leads to success.
Secret #5: Master yourself, master your trading.
Your own emotions are the only real “enemy” in all of trading. Brokers who manipulate price feeds cannot defeat you. Market makers who charge large spreads cannot defeat you. The news cannot defeat you. Changing markets cannot defeat you.
Greed is extremely deceptive. It's not wanting to have large accounts, it's not wanting to be wealthy. In trading, greed is none of the normal things you are taught it is. In trading, it's wanting to get that next point when the strategy says your done. It's wanting 30 points when the strategy's rules say 15 is enough. It's wanting to swing for the fences on every single trade. Greed is not being willing to take it slow and allow it to grow. It's not allowing compounding to work and wanting to have it “now.”
Fear will kill your trading and add years to your effort of being successful. The rules of any strategy are designed to take the emotions out of your trading. Allowing yourself to “second guess” the rules is fear. Not taking a trade instantly on the signal is fear. Exiting a trade before the rules call for is fear. Anything that keeps you from following your rules is fear and it short circuits all of your efforts and all of your training and adds years to your trading and robs you of success. You must eliminate it from your trading.
Revenge will destroy you as well. You are not the target of any great conspiracy and the market couldn't care less about your trade or your position. The brokers may want you to be a victim, but trading out of a desire for revenge will skew your thought and twist what you “see” on the charts. It will defeat you as will greed and fear.
Arrogance will destroy you just as fast as either of these others. Trading from the perspective of any emotion will kill your trading.
Arrogance will do it just as fast as greed, fear or revenge. You are NOT mistake proof. Even IF you believe you have mastered a strategy, any strategy you will still make mistakes. Arrogance will lead you to even bigger mistakes, then to revenge to try to make up for it, then to greed to try to get “just a little more” so you can earn back what you lost.
Complacency threatens to bite you after a few good trades. Suddenly you feel bulletproof, and the next thing you know you've made lazy mistakes, abandoned the rules that got you in those good trades, and you're handing back the money you earned. Each trade has nothing to do with the one before and needs just as much attention, caution and care.
Secret #6: There are no makeup trades.
Trade each trade and each session as if it were the only one. Yesterday is gone and does not deserve to be remembered in trading.
The only thing that exists in successful, consistent trading is the trade you are about to place. Make it the best on possible and forget the past so your emotions don't have a place to take hold on you.
Secret #7: Persistence and attitude will overcome everything.
If you believe you can do this, you can. If you do not believe that, quit now. Nothing can stop or defeat you but you. That is true of everything in life, not just trading. It does however apply specifically to trading. Never ever listen to anyone who says you can't trade.
Secret #8: If it's not boring, you are NOT trading correctly.
People love excitement and things that are interesting. SOLID trading is exceptionally boring. One of the hardest battles you will fight is to just trade and not try to “fix it” or “improve it.” or worse, get impatient and “wing it”.
Secret #9: Some days you just have bad days !
Every single athlete of any sport in any age has faced the “gremlins” of a bad day when for no apparent reason, someone whose skill and physical prowess are not even close simply trashes them. There are no reasons, to rationales, no analysis that can stop it. It will happen, but you can limit it! Trading is no different.
This is the reason for rules. They are to supersede your mind, instincts, emotions and all of your efforts to overcome it, which runs counter to everything we have ever been taught in life. STOP! Walk away when you start violating ANY rules, ESPECIALLY the 6 winning trades and STOP or the THREE LOSS and STOP rules!
If you're ever, ever, tempted to not set stop losses as you're sure the market's going your way, STOP TRADING AND WALK AWAY. If you have positions that are open without stops, close them immediately, even at a loss, and shutdown your computer. If you keep trading you will undo days, weeks of hard work in one session.
LEARN to limit your arrogance and pride of how good you have become, or how good your strategy is. LEARN to limit your losses!
Follow the RULES!
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."
-
Dave
- AIMSter
- Posts: 865
- Joined: 13 Feb 2012, 06:05
- 13
Re: Ray's amnesty page
Nice list Ray. If I can add one more thing....
Secret #10: Just keep calm. When you set an order, keep calm. When you're triggered and active, keep calm. When it's time to pay the rent, keep calm. And when you nail that runner, keep calm.
Irrational and emotional actions are more often than not made out of line with the trading plan. So just keep calm.
Secret #10: Just keep calm. When you set an order, keep calm. When you're triggered and active, keep calm. When it's time to pay the rent, keep calm. And when you nail that runner, keep calm.
Irrational and emotional actions are more often than not made out of line with the trading plan. So just keep calm.
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Now, I choose to make a profit in trading.
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azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
- 13
Re: Ray's amnesty page
Good list Ray, thanks for the compilation. I was in the process of writing my own list of things to keep in mind before starting a trading session when I saw your post.