50 pips to start the day, well they were enough for me for all day, I'm done now
M5, DAX, could have had about 70, hung in then decided to close
Ray's amnesty page
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wiseambitions
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Re: Ray's amnesty page
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."
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wiseambitions
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- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Thanks Sam, let me say I always enjoy your articles too
Success doesn't seem to come easy does it, nobody could write a robot to do what this thing does
But with a bit of applied common sense, discipline and devotion it produces what we like
Success doesn't seem to come easy does it, nobody could write a robot to do what this thing does
But with a bit of applied common sense, discipline and devotion it produces what we like
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
26 pips out of 3 Dax trades today, for which I am happy
============================================================================================
I've observed the best DAX trades of the day for me are generally those in the FO/LO first couple hours. I haven't differentiated whether success then is due to a fresher mind or whether the market behaves differently at other times. It could be both.
Studying the charts I have often noticed that if there is a big move overnight, (45 pips have happened a couple times in 2 weeks), then not only do we get a gap up or down at FO compared with 2100, we also see that the Europe/London session may itself be less volatile and less profitable . They might not be days worth trying to trade.
Linked in with that (needing more work) I think that generally if the market moves a little, say up to 35 pips in the night, we should watch after FO for when it breaks out of the highs and lows formed between around midnight and 0700, looking of course for the usual Aims setups. It will usually offer about 20 pips and sometimes far more in the direction it takes in the first hour or two of Frankfurt. Again I'd emphasis the highs and lows between around 0000 and 0700 are levels to watch. (Aims on m1/m5 etc may of course get us in at a price inside those levels and increases the pips potential.) It seems daft to think that the market may be influenced by out of hours trading patterns but there might be thousands of traders somewhere who think the same.
I haven't said any of this because I just noticed it today for the first time, but it is something I have eye balled for two or three weeks, and there is a simple free indicator which helps to highlight the effect.
============================================================================================
I've observed the best DAX trades of the day for me are generally those in the FO/LO first couple hours. I haven't differentiated whether success then is due to a fresher mind or whether the market behaves differently at other times. It could be both.
Studying the charts I have often noticed that if there is a big move overnight, (45 pips have happened a couple times in 2 weeks), then not only do we get a gap up or down at FO compared with 2100, we also see that the Europe/London session may itself be less volatile and less profitable . They might not be days worth trying to trade.
Linked in with that (needing more work) I think that generally if the market moves a little, say up to 35 pips in the night, we should watch after FO for when it breaks out of the highs and lows formed between around midnight and 0700, looking of course for the usual Aims setups. It will usually offer about 20 pips and sometimes far more in the direction it takes in the first hour or two of Frankfurt. Again I'd emphasis the highs and lows between around 0000 and 0700 are levels to watch. (Aims on m1/m5 etc may of course get us in at a price inside those levels and increases the pips potential.) It seems daft to think that the market may be influenced by out of hours trading patterns but there might be thousands of traders somewhere who think the same.
I haven't said any of this because I just noticed it today for the first time, but it is something I have eye balled for two or three weeks, and there is a simple free indicator which helps to highlight the effect.
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
Since start of the month I have endeavoured to keep my emotions in control and to apply the right discipline to my trades
One thing I've done is tried more carefully to stick to the setups and to filter out bad openings which would be against the trend. Not only by watching the purple line, also I tend to wait until after an AO cross, not just say it's near enough the zero line - I find that is helping. (The cross vines on ewaves are handy for this)
Then to be willing to quit a trade before it has run to full stop loss, particularly if there is strong retracement and a new dot alert against me
In the 11 trades I've done on main dax account it has paid off, as I've counted 92 pips, and the losers were no more than half the original stop loss.
Not statistically valid until I've done it 111 times, not just 11, but I think it pays, and has made a big difference to the way I feel in just 3 days.
One thing I've done is tried more carefully to stick to the setups and to filter out bad openings which would be against the trend. Not only by watching the purple line, also I tend to wait until after an AO cross, not just say it's near enough the zero line - I find that is helping. (The cross vines on ewaves are handy for this)
Then to be willing to quit a trade before it has run to full stop loss, particularly if there is strong retracement and a new dot alert against me
In the 11 trades I've done on main dax account it has paid off, as I've counted 92 pips, and the losers were no more than half the original stop loss.
Not statistically valid until I've done it 111 times, not just 11, but I think it pays, and has made a big difference to the way I feel in just 3 days.
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."
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Michal
- Free Member
- Posts: 762
- Joined: 28 Aug 2012, 01:13
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Re: Ray's amnesty page
Thx Ray just to share that's what i decided to do cut my losers when the brake the aims and come back to red.Im testing this way as before my exit depended on occasion at present moment.But by closing on red i can reduce initial risk Thx for sharing as im working on my mm
Thx for sharing as im working on my mm All I need is Aims. Just love it !
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
I'm happy to agree with you. There are other truths I am working on, one is that with this system we should not expect to be in a trade for long, we should spend more time patiently waiting for the right opportunity than we are in the market. Generally there may be sense in saying if a setup is not followed by a breakout in the desired direction in about 10 bars (could be far less, I haven't come to a conclusion yet), whatever your time frame, you ought really to question why you are in the trade and whether to just pull out if stops or limits havent been hit. Generally the EW tells us if the w3/4/5/a+b+c patterns have been completed and if it is a weak wave 4 it's unlikely any 5th will go more than 38% if that.micchhaal wrote:Thx Ray just to share that's what i decided to do cut my losers when the brake the aims and come back to red.Im testing this way as before my exit depended on occasion at present moment.But by closing on red i can reduce initial risk
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
I read this ebook today, yes it's yet another one about controlling our emotions
Maybe it will help you control those gremlins too and even bring you good fortune. It did for me, and without getting too het up I achieved 53 pips today at a maximum loss of 18 (slipped 3 with SL of 15 on a fast move) and a return over 7% in half a day at the screen
Maybe it will help you control those gremlins too and even bring you good fortune. It did for me, and without getting too het up I achieved 53 pips today at a maximum loss of 18 (slipped 3 with SL of 15 on a fast move) and a return over 7% in half a day at the screen
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
little time wasters
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 fantastic week for me
PF 4.2
Main thoughts
1) We can't control or influence the way the market goes, we can only control ourselves
2) Make sure it's a setup not a gamble
3) Quit losing trades according to plan and you'll cut your tithes and be ready for the next opportunity
4) Take a reasonable profit when it's available. Trail the stop and keep an eye on price action
5) Stop when day's goal is clearly achieved.
6) Enjoy life
PF 4.2
Main thoughts
1) We can't control or influence the way the market goes, we can only control ourselves
2) Make sure it's a setup not a gamble
3) Quit losing trades according to plan and you'll cut your tithes and be ready for the next opportunity
4) Take a reasonable profit when it's available. Trail the stop and keep an eye on price action
5) Stop when day's goal is clearly achieved.
6) Enjoy life
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."