Hi chaps
I've been away for a few days and only had chance to partake in 3 sessions this week. My execution was a bit poor (got out of too many winning trades too early), and I put one on last night and left it running - it was a short on Dax justified IMHO by weakness on h4 where the DA had sounded and where the momentum appeared bearish - which paid off massively this morning. 116 pips for the week. Very acceptable for Weds, Thurs and just an hour or two of Friday morning.
So this is the end of a month. Main lesson and useful experience for me came from an article put up by Mickey a couple weeks ago. The advice was to keep to the same position size every trade and just concentrate on the price action. Psychologically sensible if not so on mathematical basis. However the result astonished me. I found in spite of times when I was thinking I should have more contracts per trade I have totted up phenomenal gains after several dozen entries. For reasons I don't know how to explain, less is more............ In fact it is making me wonder whether to stick to the same tactics for the whole of June, however I might be bold and consider a higher fixed lot size, that will be the subject of my musings this weekend. It was a good article, and thanks to Mickey for putting it up, I remember it was a poor translation from another language but it still made lots of sense.
It only needs 1% a day rollup to achieve more than 1000% annual returns..... 2% achieves that in 6 months, 3 to 5%/day is actually quite achievable if you're at it most of the available time............. it sure helps keeps a person disciplined and reminds us that small targets rather than ridiculously high ones are still quite lucrative.
Ray's amnesty page
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wiseambitions
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- Posts: 1127
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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."
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
I have put up this article before but it's always worth another read. The strapline is "acting in your own best interests" and Immy has previously said he liked it because it was written by someone experienced as a trader
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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- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Sometimes when we write a journal entry all we are doing is talking to ourselves, and there's nothing wrong with that. It seems to help the mind sort things out when we jot our thoughts down.
So my thinking today is that entries taken not as pending orders can usually be classified as "shots" and on m1 they are liable to involve slippage and perhaps missing the first 2 or 3 or more pips of potential profit. And so a trade like that is handicapped from the start. Not so bad on higher time frame trading of course.... And then another problem (in the mind) with taking shots is that we are more likely to struggle and refuse to accept that we are wrong and suffer being stopped out........... So, basically if we are trading m1 all our entries do need to be opened by pending orders. ...... every time. all of them.
I have had enough for today, it has been hugely profitable with all that volatility, but I am liable to make mistakes if I keep going, and I am therefore going to enjoy the good feelings of double the day's target number of pips. Don't get me wrong, I make enough mistakes in the normal course of things. 6 winners, 2 losers today. update, actually 7 winners 3 losers, net pips were 61.3.
afterthought. It can be permissible, in manual trading, to consider a market order sometimes, very much at discretion, if the price goes back inside the aims box slightly on a pullback. If ever I do that I still keep to the original starting SL level which would in most cases be around the green line of alligator, thereby reducing the risk on that attempted trade....
So my thinking today is that entries taken not as pending orders can usually be classified as "shots" and on m1 they are liable to involve slippage and perhaps missing the first 2 or 3 or more pips of potential profit. And so a trade like that is handicapped from the start. Not so bad on higher time frame trading of course.... And then another problem (in the mind) with taking shots is that we are more likely to struggle and refuse to accept that we are wrong and suffer being stopped out........... So, basically if we are trading m1 all our entries do need to be opened by pending orders. ...... every time. all of them.
I have had enough for today, it has been hugely profitable with all that volatility, but I am liable to make mistakes if I keep going, and I am therefore going to enjoy the good feelings of double the day's target number of pips. Don't get me wrong, I make enough mistakes in the normal course of things. 6 winners, 2 losers today. update, actually 7 winners 3 losers, net pips were 61.3.
afterthought. It can be permissible, in manual trading, to consider a market order sometimes, very much at discretion, if the price goes back inside the aims box slightly on a pullback. If ever I do that I still keep to the original starting SL level which would in most cases be around the green line of alligator, thereby reducing the risk on that attempted trade....
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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- Posts: 1127
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Re: Ray's amnesty page
I tried to execute this one well but was about 20 pips less than best
83.8 pips
I might have done ok just to follow the green line down as a moving stop but the aims box formed a new top fractal and that was the bit that un rested me.
Still it was a decent reward
it followed a fair shredding during a period of whip
83.8 pips
I might have done ok just to follow the green line down as a moving stop but the aims box formed a new top fractal and that was the bit that un rested me.
Still it was a decent reward
it followed a fair shredding during a period of whip
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
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- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
A couple beauties this morning, difficult to know how long to stay in trades sometimes, letting them fall back to the green line catches between 50 -75% of all available pips - fruit and any other signals never tell us exactly the best moment to exit, but if we win more than we lose then that's gain............. and it is possible to still win with many more losers than winners...........
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
51 pips negative in 4 consecutive rent trades and yet still over 120 pips up by the end of the day...................
In spite of many loss trades and mistakes on my part, including 4 consecutive losses, and many missed opportunities it has been a brilliant day
It only needs one or two of such a week to really give a boost, please dont get me wrong I have had moments of despair all the same........... but overall the outcome is amazing
13899398 2015.06.12 09:34:39 buy ger30 11270.6 11280.7 0 2015.06.12 09:51:40 11280.7 10.1
13899703 2015.06.12 10:01:40 sell ger30 11273.5 11270.1 0 2015.06.12 10:07:18 11270.1 3.4
13899776 2015.06.12 10:09:03 buy ger30 11292.5 0 0 2015.06.12 10:13:50 11298.3 5.8
13899937 2015.06.12 10:36:39 buy ger30 11300.8 11277.9 0 2015.06.12 10:39:09 11277.9 -22.9
13899954 2015.06.12 10:39:56 sell ger30 11271.8 11283.9 0 2015.06.12 10:43:02 11283.9 -12.1
13899983 2015.06.12 10:47:17 buy ger30 11298.8 11293.2 0 2015.06.12 10:53:08 11293.2 -5.6
13900021 2015.06.12 10:55:08 sell ger30 11279.3 11289.8 0 2015.06.12 10:59:41 11289.8 -10.5
13900123 2015.06.12 11:03:56 sell ger30 11277 11268.1 0 2015.06.12 11:12:09 11268.1 8.9
13900143 2015.06.12 11:03:52 buy stop ger30 11300 0 0 2015.06.12 11:14:39 11272.5 0
13900349 2015.06.12 11:12:28 buy ger30 11272.3 11263.2 0 2015.06.12 11:15:23 11263.2 -9.1
13900449 2015.06.12 11:17:15 sell ger30 11249.3 11235.4 0 2015.06.12 11:28:05 11235.4 13.9
13900713 2015.06.12 11:39:39 buy ger30 11253.2 11243.2 0 2015.06.12 11:40:56 11243.2 -10
13900754 2015.06.12 11:42:48 buy ger30 11257.3 11261.2 0 2015.06.12 11:55:20 11261.2 3.9
13901577 2015.06.12 12:44:05 buy ger30 11270 11333.7 0 2015.06.12 12:56:50 11333.7 63.7
13903502 2015.06.12 14:31:04 sell ger30 11220 0 0 2015.06.12 14:32:13 11211.3 8.7
13903592 2015.06.12 14:40:47 sell ger30 11185 11214.9 0 2015.06.12 14:42:43 11174.5 10.5
13904376 2015.06.12 15:54:19 sell ger30 11215.3 11203.5 0 2015.06.12 16:00:41 11203.5 11.8
13904640 2015.06.12 16:58:43 buy ger30 11148.1 11149.3 0 2015.06.12 17:10:39 11149.3 1.2
13905166 2015.06.12 17:14:41 sell ger30 11145.3 11156.5 0 2015.06.12 17:15:37 11156.5 -11.2
13905206 2015.06.12 17:18:32 sell ger30 11138.3 11123.6 0 2015.06.12 17:32:26 11123.6 14.7
13906129 2015.06.12 18:08:12 buy ger30 11110 11095.8 0 2015.06.12 18:13:58 11144.3 34.3
13906668 2015.06.12 18:46:09 sell ger30 11183 11182.6 2015.06.12 18:49:04 11171.2 11.8
13906774 2015.06.12 19:03:05 sell ger30 11164.8 11176.7 0 2015.06.12 19:03:57 11158.3 6.5
127.8 pips net winnings
In spite of many loss trades and mistakes on my part, including 4 consecutive losses, and many missed opportunities it has been a brilliant day
It only needs one or two of such a week to really give a boost, please dont get me wrong I have had moments of despair all the same........... but overall the outcome is amazing
13899398 2015.06.12 09:34:39 buy ger30 11270.6 11280.7 0 2015.06.12 09:51:40 11280.7 10.1
13899703 2015.06.12 10:01:40 sell ger30 11273.5 11270.1 0 2015.06.12 10:07:18 11270.1 3.4
13899776 2015.06.12 10:09:03 buy ger30 11292.5 0 0 2015.06.12 10:13:50 11298.3 5.8
13899937 2015.06.12 10:36:39 buy ger30 11300.8 11277.9 0 2015.06.12 10:39:09 11277.9 -22.9
13899954 2015.06.12 10:39:56 sell ger30 11271.8 11283.9 0 2015.06.12 10:43:02 11283.9 -12.1
13899983 2015.06.12 10:47:17 buy ger30 11298.8 11293.2 0 2015.06.12 10:53:08 11293.2 -5.6
13900021 2015.06.12 10:55:08 sell ger30 11279.3 11289.8 0 2015.06.12 10:59:41 11289.8 -10.5
13900123 2015.06.12 11:03:56 sell ger30 11277 11268.1 0 2015.06.12 11:12:09 11268.1 8.9
13900143 2015.06.12 11:03:52 buy stop ger30 11300 0 0 2015.06.12 11:14:39 11272.5 0
13900349 2015.06.12 11:12:28 buy ger30 11272.3 11263.2 0 2015.06.12 11:15:23 11263.2 -9.1
13900449 2015.06.12 11:17:15 sell ger30 11249.3 11235.4 0 2015.06.12 11:28:05 11235.4 13.9
13900713 2015.06.12 11:39:39 buy ger30 11253.2 11243.2 0 2015.06.12 11:40:56 11243.2 -10
13900754 2015.06.12 11:42:48 buy ger30 11257.3 11261.2 0 2015.06.12 11:55:20 11261.2 3.9
13901577 2015.06.12 12:44:05 buy ger30 11270 11333.7 0 2015.06.12 12:56:50 11333.7 63.7
13903502 2015.06.12 14:31:04 sell ger30 11220 0 0 2015.06.12 14:32:13 11211.3 8.7
13903592 2015.06.12 14:40:47 sell ger30 11185 11214.9 0 2015.06.12 14:42:43 11174.5 10.5
13904376 2015.06.12 15:54:19 sell ger30 11215.3 11203.5 0 2015.06.12 16:00:41 11203.5 11.8
13904640 2015.06.12 16:58:43 buy ger30 11148.1 11149.3 0 2015.06.12 17:10:39 11149.3 1.2
13905166 2015.06.12 17:14:41 sell ger30 11145.3 11156.5 0 2015.06.12 17:15:37 11156.5 -11.2
13905206 2015.06.12 17:18:32 sell ger30 11138.3 11123.6 0 2015.06.12 17:32:26 11123.6 14.7
13906129 2015.06.12 18:08:12 buy ger30 11110 11095.8 0 2015.06.12 18:13:58 11144.3 34.3
13906668 2015.06.12 18:46:09 sell ger30 11183 11182.6 2015.06.12 18:49:04 11171.2 11.8
13906774 2015.06.12 19:03:05 sell ger30 11164.8 11176.7 0 2015.06.12 19:03:57 11158.3 6.5
127.8 pips net winnings
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
Monday, the market did not seem to want to budge much nor give me anything, I just kept getting shredded by whip, and should have quit earlier
Today, far better, 49.9 pips by 90 minutes. I know there was more to be milked from this, but to stay reduced-stress if not stress-free in my trading, I don't set out to win them all.
Today, far better, 49.9 pips by 90 minutes. I know there was more to be milked from this, but to stay reduced-stress if not stress-free in my trading, I don't set out to win them all.
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
Monday, the market did not seem to want to budge much nor give me anything, I just kept getting shredded by whip, and should have quit earlier
Today, far better, 49.9 pips by 90 minutes. I know there was more to be milked from this, but to stay reduced-stress if not stress-free in my trading, I don't set out to win them all. Sometimes I got out by discretion eg 0759 immediately prior to London doors opening when it can go bonkers
Today, far better, 49.9 pips by 90 minutes. I know there was more to be milked from this, but to stay reduced-stress if not stress-free in my trading, I don't set out to win them all. Sometimes I got out by discretion eg 0759 immediately prior to London doors opening when it can go bonkers
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
What a brilliant lot of opportunities we had on Thursday, I would say it was one of my best days ever, making over 165 pips before NYO (and the broker has been trying to call me!), even if I missed another couple hundred which the afternoon offered......... The pips are definitely in season.
m1 price right now on dax 0905 0928 is respecting the purple line..........
3 winning trades this morning, which I am happy about. However I have not had a rent in the last 5 trades and by the laws of probabilities the next couple trades will claim something back from me. So it's fear, a feeling which stops me setting another pending. I don't know how many other people go through the same emotions, anyway I have achieved my daily target so will try and chillax
m1 price right now on dax 0905 0928 is respecting the purple line..........
3 winning trades this morning, which I am happy about. However I have not had a rent in the last 5 trades and by the laws of probabilities the next couple trades will claim something back from me. So it's fear, a feeling which stops me setting another pending. I don't know how many other people go through the same emotions, anyway I have achieved my daily target so will try and chillax
Last edited by wiseambitions on 19 Jun 2015, 09:47, 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."
-
Tomi
- AIMSter
- Posts: 954
- Joined: 08 Jan 2012, 19:21
- 13
Re: Ray's amnesty page
I had 5 last trades as losses and stopped trading. No fear, but just common sense that backfired from the hit in mental barrierwiseambitions wrote:I have not had a rent in the last 5 trades ... So it's fear, a feeling which stops me setting another pending
