Ray's amnesty page

[wiseambitions]

I was in the grain trade for 20 years, and one of the functions I had was to control a pool of crops which I had to sell for physical delivery and hopefully get a good overall price for the growers - the nearest thing to being a fund manager. I found this chart of the sort of emotions that get in the way of trading, and I can't actually think of many things that are missing.

Hopefully all the aimsters do better than this :

I can see nice 1-2's and aims boxes, lovely setups to go short and long!

Didn't know about Elliot waves those days Immy. It was pure fundamental trading, based on clouds and other things!

Someone's just described my chart of AO as a crippled millipede in need of a chiropractor. Interesting analogy. After all, Seeing we have an alligator why not have a millipede? (And the idea is to have about 100/130 bars showing to decide what wave!).

[wiseambitions]

EURUSD H1, I entered short, on dropping out of aims, ahead of a dot alert (which was pink when it arrived), as I felt on the analysis of the timeframes either side that the trend was to the downside.
On account of the aims box not being high I set SL at the top of that box and let the trade run to a profit which in terms of pips was twice my risk.
Although I could have done better, it's broken H4 nice and clearly now, I'm happy, it's brick laying.

[wiseambitions]

Another little trade around NYO Aussie/Dollar M30 Not quite a proper S1 Setup as gator not sleeping, but it paid off, 11.2 pips

The month has been good. I hope not to go and blow it tomorrow being the last day, but my Aims score is over 650 pips up so far. That averages over 30 pips a day. It rocks \m/

[wiseambitions]

Exceptional result Ray. Good on ya buddy. Keep it up :-bd . It won't blow up unless you drink and trade. )

Haha. Talking about drinking and trading, I looked at some of my less good days and decided I must have been asleep at the wheel!

[wiseambitions]

A beautiful 50 pipper on USDCHF this morning, H1, as per chart, I had to wait a couple hours or so for the gold.

What a wonderful month

If I dont do any more today February yielded me 701 pips.

56 winners averaging 18 pips
34 losers averaging 9 pips rent

ROI stratospheric

I was asleep at the wheel once or twice, otherwise I know 1000 pips were possible for me.

Anyway, most of the gains were due to trading H1 in S1 and S2 setups

[Darren]

Nice one Ray (wd)

[Nikita]

Amazing results!

Btw, according to Aussie trade you trade the breakouts of HTF Box with or without dot?

[wiseambitions]

Amazing results!

Btw, according to Aussie trade you trade the breakouts of HTF Box with or without dot?

Thanks, yes I did go in the trade before the dot, which is a risk I am prepared to take on higher time frame trades if I have reason to believe the price is moving fast.
The dot only comes up on the starting of another bar for the same time frame, and, as we all know, price can cross the green line (lips of the alligator) and retract before the bar ends in which case no dot alert will happen. Also of course care has to be taken if the bar ends with the price below (or above) the aims box (pink dots), I think one either has to decide to ignore all such alerts and look for a different pair, or proceed anyway with the necessary caution. Positive results from trading seem to come from consistency, in always responding a certain way to indicators, even for the group of people who might take notice of how venus lines up with mars and trade their forex accordingly! Yes there are people who take their cues from the most obscure signals!

I don't always get it right, but only have to answer to myself. Well perhaps the wife is interested too but I don't have to justify individual trades to her!

[Nikita]

But according to such method you have to set a pretty big SL, havent you? I know you use green line as a stop if box is very high, but even green could be placed far from box. How many% do you usually risk?
If SL is high how do you managing you TP?
You try to take 10 pips (on HTF it is almost 90% from every break, even if it fake) after brakout or more complex methods?

[wiseambitions]

But according to such method you have to set a pretty big SL, havent you? I know you use green line as a stop if box is very high, but even green could be placed far from box. How many% do you usually risk?
If SL is high how do you managing you TP?
You try to take 10 pips (on HTF it is almost 90% from every break, even if it fake) after brakout or more complex methods?

Typically I set the risk as a couple pips the other side of the RED line of the alligator. Incidentally I reckon we could make good money on H1 just by being short when we are below the red line and being long when above it. (or the 34 MA for that matter). That's another theory, and one which I know Immy finds noteworthy but not many of the members have picked up on it.

I do tend to amend the Stop Loss as the trade progresses, but TP is again a difficult one to decide. The manual talks about staying in a trade until price goes back the other side of the green line, which takes more tenacity than I possess. I don't like being away from my terminals when in even a long term trade, as I will adjust the TP as the market moves.


The thing is if we could trade mechanically and did not need to apply any intuition at all we could get the strategy written up as an EA robot, but the forex market doesn't work like that, there are extremely few profitable robots, and we have to make a few decisions on the wing which either tell us not to go into a certain trade, or to close the situation we are in for a whole multitude of reasons.

But taking my results of February, if I get an average win of 18 and an average rent of 9 pips, with plenty more wins than rents, then I am a happy chap and that's the reason why this is my favourite system.