Ray's amnesty page

[wiseambitions]

I may not have chance to trade any more this week, but about 85 pips (in dollar terms, because that's the way I calibrate them for comparitive purposes) out of just 4 entries renders me very happy,
it was a lovely hat trick as I didn't pay rent on this strategy in these sessions, setting SLs of generally no more than 15

[Nikita]

Ray, just for curiosity. You said you trade only h1/h4, but last trade was m30.

You look for tight range on HTF, and drop to m30/m15 to catch or what?

BR,
Nikita.

[wiseambitions]

Ray, just for curiosity. You said you trade only h1/h4, but last trade was m30.

You look for tight range on HTF, and drop to m30/m15 to catch or what?

BR,
Nikita.

OK, I have a list of optimum settings from someone else in Russia - some pairs are H1, some are M30,

I look for an aims box which isn't too high, and entries on break of aims levels preferably close also to a cross of the 4EMA line with the 60EMA, - I think they are strong signals. There may be other things I do watch as well which aren't entirely Aims related, but which do the same thing...

If you can make sense of the attachment, it is a picture of the bottom of my MT4 screen which shows all the charts I watch and if they are M30 or H1

[wiseambitions]

Nikita:
What I need to say is trading the higher time charts depends on the time you have available to watch for setups

I might not even get 3 entry setups in a week for some pairs. so by watching regularly the main ones I may get a couple signals in a day during London/America trading times

If I were trading M1 I might get a setup every hour..... m5 perhaps 2 or 3 times a day

It depends on your trading style. If you have a look at pages 12 and 13 in the manual you'll see notes about the option one of M1 and M5 which is what most members would go along with, and Option 2 of M15 through to however long you like for a more sedate trading style. The rules are just about the same. It's a matter of personal preference.

I have been finding on M1 that I struggle to execute orders quick enough (in spite of setting Pending Orders), and I get too greedy and forget that a couple pips here and there should be often taken as the profit, not waiting for more, and definitely not to trade against the trends.

The higher time frames suit me ok because I'm working near my screen most days, and also I find I get a higher % of winning trades if I recognise what are the high probability setups...... but I have to accept I get bad days and must accept a few losses here in hope of longer term gain. Higher time frames also make it acceptable to pay a bigger spread, I wouldn't want to be trading with a 5 pip spread on quicker charts where the intention is to only make 5 or 10 pips a trade!

[wiseambitions]

And just to prove a point about spreads, I had to pay 7 pips bid-offer on euraud tonight

12 pips net to me, it had to climb 19 to achieve this

It makes me question whether the pair is worth trading although it can move a long way!

I opened this trade, against my better judgement, thinking I'd stopped for the week (working away tomorrow), just after the blue up arrow.......... it took until the opening of the Asian session for the aussie to do what I wanted it to do! I closed it because it was 10.30 and time to unwind, I could have let it trail, but I could see volatility and preferred to pull out.

makes it 5 winning trades this week all in a row, pride goes before a fall, I better watch the rules carefully now!

[immy]

And just to prove a point about spreads, I had to pay 7 pips bid-offer on euraud tonight

12 pips net to me, it had to climb 19 to achieve this

It makes me question whether the pair is worth trading although it can move a long way!

I opened this trade, against my better judgement, thinking I'd stopped for the week (working away tomorrow), just after the blue up arrow.......... it took until the opening of the Asian session for the aussie to do what I wanted it to do! I closed it because it was 10.30 and time to unwind, I could have let it trail, but I could see volatility and preferred to pull out.

makes it 5 winning trades this week all in a row, pride goes before a fall, I better watch the rules carefully now!

anything above 3-4 pips spread, i don't touch. Its a rip off! cheers

[wiseambitions]

And just to prove a point about spreads, I had to pay 7 pips bid-offer on euraud tonight

12 pips net to me, it had to climb 19 to achieve this

It makes me question whether the pair is worth trading although it can move a long way!

I opened this trade, against my better judgement, thinking I'd stopped for the week (working away tomorrow), just after the blue up arrow.......... it took until the opening of the Asian session for the aussie to do what I wanted it to do! I closed it because it was 10.30 and time to unwind, I could have let it trail, but I could see volatility and preferred to pull out.

makes it 5 winning trades this week all in a row, pride goes before a fall, I better watch the rules carefully now!

anything above 3-4 pips spread, i don't touch. Its a rip off! cheers

I don't blame you Immy, but look what happened. I bailed out. Went to bed. Woke up. Checked how much I missed. Shows what an idiot I am.
The thing about setups is if we trust them we must let them do their work!!!!!!

I'm off out for today, but happy with my week, Thanks for all your support Immy. I told my wife you're an altruistic sort, in the way you share the secrets of success with us all!

[wiseambitions]

Not paper trading even, but looking now at the screen and the action I missed today while being out, and asking myself which set ups would I have seen at the time, and how might I have fared by trading them.

Aussie, M30, I would have seen a strong buy signal around coffee time, in spite of alligator not really being sleepy, and my usual target of 10 pips should have been achieved.

Kiwi H1. There was a strong buy signal at a similar time, and my usual target would have been 25 pips, and it would not have been achieved. I wonder whether I would have traded it, if I had already chosen to go with Aussie, and if so whether I would have set the break even as stop loss, or closed for a few positive pips before they melted. I don't know.

Cable, M30. There was a strong signal to go short around 09:30 and if I had taken it I would have achieved my normal target of 20 pips

Fiber M30. There was a strong signal to go short midday. I would have set a tp of 15 on that one normally, and wonder whether including spread and slippage if I'd have just got lucky or whether I'd have missed TP by 1 or 2 and in which case the same query arises as with kiwi concerning whether I'd have got any pips at all or suffered a final defeat.

Anyway it's all conjectural. Obviously I'm telling myself I would have traded the first signal to come up which was the GU, and would have done ok, and while doing this would probably have been shut out of other trades which had a dubious outcome! Have a good weekend guys!

[wiseambitions]

Morning guys. I only have time for one trade this morning, as I'm supposed to be enjoying my 25th Wedding Anniversary later!


Short on NZDUSD, H1, S2 (except AO hasn't crossed ZL), already 10 pips in profit, and thinking to screw down the SL a bit in pursuit of 25TP

[Nikita]

Congtatulation, Ray!
Many more years of love, luck and happiness!