Ray's amnesty page

[wiseambitions]

Noon Sunday
I'm told the grey market is currently pricing dax at 11090 bid 11130 offer


AND at 2000 (1900GMT) it's down to about 11040. I don't know whether IG Index are making their own market (they are one of few who quote a price during Sunday) or whether this is a matching of buyers and sellers across multiple brokers, but it doesn't seem like Dax is going to find many friends until it hits some kind of bottom during the Asian session or core trading hours Monday, even if it does then.........................................Meanwhile it's a blood bath


And if Greek banks remain closed you can tell the outcome of their referendum:

“Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744-1812)

[wiseambitions]

I was away from screens since 1000am, and came back to find that the euro had recovered to even higher than Friday (in the example of Euro to the pound) ............ proving yet again that the market commentaries over the weekend were only fortune tellers (and wrong!).

I think I have had the best week ever in my aims trading, perhaps luck helped me along better than my judgement. 42 trades 1300 pips. These are undoubtedly good conditions for the strategy and it is a matter of believing in and taking the signals, and being dynamic with SL management.

Thought for the week: How many times are we in a trade the wrong way, when we should have pulled out long ago, but we hang in because we are too proud to cut our losses, in the belief the trade will turn back in our favour, and we sit there wishing the indicators were wrong?

[wiseambitions]

Wondering if any other members have had their trade size restricted? One broker this week won't take orders of more than 10 pounds a pip on Dax


Update. Broker says he doesnt mind me opening multiple trades each of not more than 10 pounds a pip. This is going to get boring. Does anyone know of a trade copier which will duplicate trades with the same broker ?

[Tomi]

No restrictions on my brokers at least. Or I'm trading newbie lot sizes from the broker point of view, haha.

If you find a working free trade copier, please let me know. I'm interested about the idea. Sure there must be commercial solutions available. It's not that big task to code one either, but would be interested to know if free one is available already.

[wiseambitions]

Hi Tomy

I think some of the brokers might have almost had an Alpari moment when markets opened on Monday, due to the gap, and it is obviously in response to that ....also some brokers reportedly went into "close-only" mode........

As to ordinary trade copiers, I believe one from Open Thinking or from Steve Hopwood is really quite good, (sorry I forgot the right details)you set up one chart to be master and the rest are all slaves, and it will copy openings, POs, exits etc, about once a second, from master to all slaves, and you can adjust the ratio, like if it opens 10 lots on the master it can open your choice of say 2 lots on the slave.....I haven't tried it lately

I suppose I could experiment having 2 instances of mt4 for same broker but I wouldn't want to put the thing into a loop which kept opening up trades until all the margin money was tied up ! ! ! ! !

Best luck with your trading friend, I know you know how to do it. And the pips are quite in season, fruitful, at this moment, if we can harvest them!

[wiseambitions]

These stipulations on trade size have imposed caution on me, nevertheless I did open multiple (smaller) trades, and in spite of all the aggro it has brought a fantastic outcome

29 trade attempts. PF 4.49, 270 net pips (yikes), Max drawdown 1.23% (4 consecutive losses) and yet a stonking great big 9.15% return on capital.

I still can't work out why less is more, but it definitely is. What a paradox

[immy]

Wondering if any other members have had their trade size restricted? One broker this week won't take orders of more than 10 pounds a pip on Dax


Update. Broker says he doesnt mind me opening multiple trades each of not more than 10 pounds a pip. This is going to get boring. Does anyone know of a trade copier which will duplicate trades with the same broker ?

yep just Click FTM twice if you want.... BTW even though my account can afford it i don't go too high per pip. its just a matter of principle.

[wiseambitions]

Couldnt agree more with Immy

I keep saying it, and the maths are undeniable

1) If you roll up your account by 1% a day, (which at 2% risk and a fair balance of wins and losses ought to be eminently achievable by anyone who has read the ebook a few time) Then you would multiply an account by 12 in 250 days. 250 days is approximately one full year, taking off a few days for bank holidays as well as weekends.

2) If you could roll up at 2% a day, then in the same time you would multiply your account by 141

It is not necessary to take wanton risks and set out to average 5 or more % a day in order to achieve phenomenal things with this.

And it is also quite possible to make a decent living on the income from say 20 pips a day if at 10 pounds a pip. Or the other way round........10 pips, 20 pounds a pip............ and the capital required might only need to be £10000 to £20000. If even that. Which might be less than needed to run a nice sweet shop! Smiles.

Bricklaying is the word which has been used in the past. It might be boring, but the rewards are handsome, so we have to keep on doing boring things.

[wiseambitions]

Thursday - Beware NFP comes early this time.

[wiseambitions]

At 0730 BST there was not a lot of liquidity, I was getting slipped more than 5 pips every time with one broker on the Dax on Stops and Entries. Things softened up a bit after LO

Seeing it's NFP I can't help but remember an old trader who said years ago to me that NFP is a trader's holiday.

Difficult now, knowing the power of Aims, to entirely agree, but what we often see is caution and lack of volatility in the morning session until all *ell breaks loose at 1330 (1230 GMT)

So: "Act in our own best interests"