Ray's amnesty page

[wiseambitions]

Ray,
I haven't figured out yet how you're actually trading. Ok, your entries are mainly S1 and S2 on M1 and M5 in respect of breakouts of higher timeframes and you're literally attacking with entries. But what's your "trick" for your great profit rates, what's your exit rules? And as Darren already stated above, I really would love as well to see charts with trades on it to get a closer idea of your trading.

Great stuff!!!

Cheers ;-)

Thanks, this would take all night to answer. Let me begin by quoting what I wrote to a trading buddy earlier:

"The lessons we had to learn included lots of loss and despair on the way, and were very expensive


Nobody can wake up and play wonderful music, paint a masterpiece, win in sports or fly a Jumbo or do a heart operation without thousands of hours of learning..............."

So it's the same with trading!

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What I would like to say is the best thing that happened to me a couple weeks ago was something which infuriated me at the time. None of my orders were getting accepted, and by the time I got through to the broker the answer was that lot size was being restricted. They were stopping big orders but would accept multiple smaller entries. After a cooling off period I realised something quite simple. Not only might this save my account from ruin from over-trading, there was actually virtue in having smaller and more frequent attacks on a setup. So, first orders are pending, on fractals, and if the price retraces a bit and if other indicators give confidence I will consider adding on if price retraces into the Aims box, indeed I will add rather than bail out subject to that confidence. The factors which I believe need to be satisfied for this confidence to exist are not only Aims/Bill Williams rules but involve one other oscillator and one or two other trend lines which are not part of the main system. So, like I say, while logic might usually say get ready to get out if there is a retrace, add-ons at a lower purchase price (or higher selling price) can actually work out beneficial, and can at a the same stop-loss point offer a better RRR. So in a nutshell I think it is definitely helping me to have to trade in smaller chunks than just one pending order.

The other aspect, which is when to take the profit and go to cash is of course one which I keep trying to improve on. because I am far away from achieving full potential. I don't think any of us are masters of that, and the last major exercise a couple of us did on this said that there is no system be it trailing stops, opposite fractals or green line which give us on average more than 50% of the available pips. I never set a TP but tend to get out either when I can't resist the available profit, or when price goes back to green line, or when I haven't got time to wait, or when the aforementioned aims or non-aims indicators might tell me the momentum is expiring.

It's a long time since I started this morning, so I just hope this information helps although a full tome would take hours to write!

[Darren]

Thanks for the reply Ray. I would continue the way you are as it seems to be working very well! :-bd

[wiseambitions]

hi Darren

thanks, yes, it works like crazy most of the time, and then it can feel like we are stealing off someone else! We are only accountable to ourselves, and I find it works best if I don't let others even in the same room ask "why are you doing that?".......... Although it is frequently a question I have to ask myself!

If it works, don't break it...........




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Seems like Eurex was broken this morning though, I was watching 6 brokers, only 3 were quoting until normality was restored, the spreads were stupid and none of them were within 4 pips of each other as to any prices being quoted...... I remember it happening once within the last 6 months, and thought the Germans would have more reliable IT than this...........

[Hill]

inspiring achievement, Ray. thanks

[wiseambitions]

Example of some attacks on Dax this morning, prior to LO. The 2 pip margin explains why buying price looks a lot higher than the candles.

7 or 8 pips each, a nice little start to the morning, I had several of these running at the time and got out simultaneously, -- I did want to be out of the way of 0800 when it just has a tendency to go wild.

[wiseambitions]

Thursday morning. My main pc is in for repairs, the 2nd one is being used by someone else and I've been on another machine with no custom indicators, so just guessing. The moral to the story is if we are serious about trading we need plenty backup ICT.

I keep telling myself not to trade before LO but I was bored witless. Thought I saw an IB, and fruit developing after a retracement, took it until I saw some fading of AO and before LO loomed up, because I don't like the 25 pip candles which often happen at 0800. 1.7% was the prize, on a fairly tight stop, and gave nice feelings. Just a shame I didn't hold it another few minutes, but I was comfortable with my decision. Looks like it went back down to where it started at FO within 20mins of LO.

[Kyle]

Hi Ray,
I have enjoyed reading your posts. Not that I understand what you are doing completely with it, but it is working exceptionally well for you. Congrats on your results to date, and let's all hope you can continue to "rinse and repeat".

Stunning performance

[wiseambitions]

Hi Guys, I've been busy since holidays, haven't had a lot of time to get on this site, currently functioning as a consultant to a major fund group, doing research on shares. Monday morning I sent them research that shares look precarious and ominous patterns are possibly getting repeated. (Compare 2015 with 2008 and see! ) I sold heavily since then and it seems to have been the right thing to do so far. Not exactly Bill Williams/Aims stuff but I do notice that the market has a habit to dump heavily at the 61.8pc retracement line which is now nearby. h4 fractal level has been broken to the downside, which I see as strongly bearish, after last weeks bull run, which probably had sucked a lot of investors into long positions........

[immy]

Hey Ray! I thought you must have turned that 3K into 3Million by now and gone in the bahamas so never bothered sending you a message or something! what's happening with the crazy profitting account these days? i'm pretty interested...

[wiseambitions]

Hi Immy,
I don't recognise you from the new photo!

Yes I'm still at it some of the time, trying to enjoy a more relaxed lifestyle now

The profits keep amassing, I thought I'd show my account to one or two companies in London, which has certainly opened doors, and gives me a little other stuff to work on for a change.
They don't give a Gartley about a fractal in a fibonacci, in fact that's just a red flag pattern to a bull, but they all give a friendly elliott wave when they see the potential!

In the main I watch charts built around a template of Alligator/AO and Aims boxes, but I do a lot of manual trading inside of the box, I have given the indicators for doing this in the past and they suit me well. I will do dozens and hundreds of little trades rather than setting POs in the hope of one or two big trades a session. Some might say I make hard work of it, but in the last 5 days it adds up to 7600 pips out of 1245 attacks, at a PF of 6.6 so it is still immensely productive. It's my fault, nobody else can be blamed, if I don't make any money at the end of a day.

And today I've just told an Options broker where to go, with the following words...... "Sorry, as per experience of my colleague, it makes no sense to trade options and still lose money with a 60% win rate when that sort of win/loss ratio can still be insanely profitable with other trading systems. I don't know anybody who has done better by trading options, it seems a gamble and a complete waste of money to me, I don't know why you aren't all shut down, perhaps it's only because you operate from an island in a big sea that the regulators haven't banned it yet."