One of the directors of my old company when I was general manager, made 3/4 million pounds in one trade, (which he had been running for a while), for himself, and bought a farm. True that was some time ago, farms like his are dearer now.
He was a fairly strict character. Sat me down and gave me a good talking to about trading, especially futures and options, and said beware this stuff will get you like a drug.
So true.
The words come back and haunt me often
Especially this afternoon. I should have turned off the terminal, but I saw all the price action and wanted some of it. But heck didn't it move fast. I traded at small risk, got my fingers burned by enduring 4% drawdown at one stage then ending up about 5% higher on the day. Which was only about 1.5pc higher than 3 hours prior. Albeit yes it was at least higher.
Part of the discipline which I need is merely to press the button which turns off the terminal, and go and do something else instead!
Ray's amnesty page
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wiseambitions
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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
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Re: Ray's amnesty page
I seem to remember Einstein quoted for saying something along the lines
[center]If you can't explain it simply you don't understand it well enough[/center]
I realise that applies very aptly to the way I trade.
Perhaps I don't even have a system which can be explained even to myself, but it's based on S1 classic with a few amendments, and it's not even as tasty as fruit or as hard as the 5 magic bullets (if anyone knows what all that's about).
Anyway it works... and that's all that matters to me
Today, Plus 7.2% ROI, from 18 trades. Yet some traders would say have NFP off as a holiday. (Not a silly idea). AND UP BY ABOUT 35% ON THE WEEK. YIKES! Managed funds take about 5 years not 5 days to get that! Bill Williams was a genius of Einstein proportions to get the framework for this system put together
But yet I do realise I don't understand it very well, I need to SIMPLIFY my trading and simplify my life
[center]If you can't explain it simply you don't understand it well enough[/center]
I realise that applies very aptly to the way I trade.
Perhaps I don't even have a system which can be explained even to myself, but it's based on S1 classic with a few amendments, and it's not even as tasty as fruit or as hard as the 5 magic bullets (if anyone knows what all that's about).
Anyway it works... and that's all that matters to me
Today, Plus 7.2% ROI, from 18 trades. Yet some traders would say have NFP off as a holiday. (Not a silly idea). AND UP BY ABOUT 35% ON THE WEEK. YIKES! Managed funds take about 5 years not 5 days to get that! Bill Williams was a genius of Einstein proportions to get the framework for this system put together
But yet I do realise I don't understand it very well, I need to SIMPLIFY my trading and simplify my life
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
Pips dont mean everything. I'm down 5 pips in 11 trades, my attention was not good. max drawdown 1.2%, but all was not lost, due to varying lot sizes my capital is actually up 1.95%
11AM GMT is not the time to be trading m1, on Dax I think it's best to go to m5 or higher after 10:30, until 14:30 I'm done for this session.
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1600 GMT
Done for today Up 5.7%, max DD 1.2%
It was more bricklaying. Could have done better but can always say that.
----------------
went back because bored and made it 8.3%. I do need to learn how to switch off MT4 and walk away though
29 trades today, all small ones though, of which 18 were winners 1.2% max DD
11AM GMT is not the time to be trading m1, on Dax I think it's best to go to m5 or higher after 10:30, until 14:30 I'm done for this session.
----------------
1600 GMT
Done for today Up 5.7%, max DD 1.2%
It was more bricklaying. Could have done better but can always say that.
----------------
went back because bored and made it 8.3%. I do need to learn how to switch off MT4 and walk away though
29 trades today, all small ones though, of which 18 were winners 1.2% max DD
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
H4 broke aims levels of support on my charts today meaning I was looking only for shorts (on lower timeframe of m1)
Did 7 little trades, won 6, made 2.2% at DD of less than 0.1%. Bricklaying is going good, the hod carriers seem to have to run up more ladders to get to me as I go on in this malarkey, when in this job you don't look down you just have to keep at it.
Did 7 little trades, won 6, made 2.2% at DD of less than 0.1%. Bricklaying is going good, the hod carriers seem to have to run up more ladders to get to me as I go on in this malarkey, when in this job you don't look down you just have to keep at it.
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
A lovely short trade this PM
I don't know whether you can see it, but I have a white line which crossed northwards through the green of gator at start of the orange box........ which would have made an even better exit
Today - 15 tries, 10 winners, 5 losers, capital up 4.4%, max DD 1.6% situation as of 1530GMT
by 1600, +5.2% from 101 points all on DAX30 m1
today's range so far is about 200 points/pips, so there have been plenty more there to be caught with the right methods...
I don't know whether you can see it, but I have a white line which crossed northwards through the green of gator at start of the orange box........ which would have made an even better exit
Today - 15 tries, 10 winners, 5 losers, capital up 4.4%, max DD 1.6% situation as of 1530GMT
by 1600, +5.2% from 101 points all on DAX30 m1
today's range so far is about 200 points/pips, so there have been plenty more there to be caught with the right methods...
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
Chart shows my best trade of today (although since drawing the graph it took another up turn)
Suffered up to 3.6% DD this morning - silly me
This morning was profitable although I am 8.5 points/pips down. Success is not only about pips, I'm convinced money management is a far bigger component of progress than just the pip score
My discipline has been poor though, although pleased to say I am up 17.9% on the week so far through 57 trades
Suffered up to 3.6% DD this morning - silly me
This morning was profitable although I am 8.5 points/pips down. Success is not only about pips, I'm convinced money management is a far bigger component of progress than just the pip score
My discipline has been poor though, although pleased to say I am up 17.9% on the week so far through 57 trades
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
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Re: Ray's amnesty page
Another nice trade, round NYO
I got in a bit late, and after +50 decided it was starting to look a bit short of momentum
5.7pc today, I'll call it early closing now
I got in a bit late, and after +50 decided it was starting to look a bit short of momentum
5.7pc today, I'll call it early closing now
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
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Re: Ray's amnesty page
Probably got out too early but it was a nice trade, had to wait a while for profit to develop though
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
I think I was lucky to get out of this one when I did
I'll post a chart of the week's equity curve in a minute. Today has been bumpy, lots of DD but amazing result by 1500, I think I'll stop now
The equity curve shows that I endured 5 consecutive losses. I honestly don't know what I was doing wrong, but in spite of this I carried on applying the routine which has served me well, and shortly the losses were recovered and I ended up better than prior to that fracas. Perhaps the only thing to be afraid of is fear itself. Have to trust the system.....
I'll post a chart of the week's equity curve in a minute. Today has been bumpy, lots of DD but amazing result by 1500, I think I'll stop now
The equity curve shows that I endured 5 consecutive losses. I honestly don't know what I was doing wrong, but in spite of this I carried on applying the routine which has served me well, and shortly the losses were recovered and I ended up better than prior to that fracas. Perhaps the only thing to be afraid of is fear itself. Have to trust the system.....
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."
-
Tomi
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