Hi Ray,
Well, it is just after 9:00a here and the temp is 37 degrees F. We are in a valley about 1200 to 2000 feet above sea level surrounded by 5000 ft. snow capped mountains.
Thanks for the explanation. Great motivational tool!!! The graph above showing losses and winners was also beneficial to me as it shows you weathered several loses before you had a winner. I seem to be in a losing streak this month and am presently in profit in a GB/AU trade that MAY help me recover some of those losses.
Ed
Ray's amnesty page
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Hi Ed
37 is just a bit over freezing too! They predict -15C here in parts.
I will try and update and attach the chart of Profits and Losses on a by trade basis, I know I have had about 90 trades so far this year since 4th January, but I am not at the terminal every day or all the time, actually days when I can't devote the time properly don't tend to be the ones that work well for me.
I have tried GBP/AUS in the past but it is not one I have enjoyed, but I do accept it has a big ADR which is what we want.
For your information, I think it is fair to say that the majority of people following this system as day traders are using the DAX (German share index). It is a volatile beast, more so than the S&P, DJ and FTSE really, but it lends itself to this way of trading.
Prior to that we used the Euro-Japanese Yen and other Yen pairs, but really I am not looking anywhere else than DAX, and I haven't seen many telling us of their success with the Yen lately. We just have to hope nothing crazy happens though such as happened exactly a year ago when the Swiss Franc went wild and bankrupted many traders and finished off some brokers in the process!
37 is just a bit over freezing too! They predict -15C here in parts.
I will try and update and attach the chart of Profits and Losses on a by trade basis, I know I have had about 90 trades so far this year since 4th January, but I am not at the terminal every day or all the time, actually days when I can't devote the time properly don't tend to be the ones that work well for me.
I have tried GBP/AUS in the past but it is not one I have enjoyed, but I do accept it has a big ADR which is what we want.
For your information, I think it is fair to say that the majority of people following this system as day traders are using the DAX (German share index). It is a volatile beast, more so than the S&P, DJ and FTSE really, but it lends itself to this way of trading.
Prior to that we used the Euro-Japanese Yen and other Yen pairs, but really I am not looking anywhere else than DAX, and I haven't seen many telling us of their success with the Yen lately. We just have to hope nothing crazy happens though such as happened exactly a year ago when the Swiss Franc went wild and bankrupted many traders and finished off some brokers in the process!
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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baldeagle
- AIMSter
- Posts: 119
- Joined: 28 Aug 2015, 17:21
- 10
Re: Ray's amnesty page
Yes, I wish it was easier for me to trade DAX. As a US trader I would have to get a foreign account and get up in the middle of the night to day(?) trade it. Maybe I should change my username from Baldeagle to Batman!
Well, I got 30 pips out of my trade so I am going to hang it up for the day. Thanks for the input. I will be checking in to your journal on a daily basis.
Ed
Well, I got 30 pips out of my trade so I am going to hang it up for the day. Thanks for the input. I will be checking in to your journal on a daily basis.
Ed
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Yes I can see what you mean, seeing you're right on the west coast. Have you asked Immy or any of the others for any guidance on a suitable market for your time zone?
You are right that my charts show it can still be very profitable to let a lot of trades go to small losses and watch for the next opportunity.
You are right that my charts show it can still be very profitable to let a lot of trades go to small losses and watch for the next opportunity.
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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baldeagle
- AIMSter
- Posts: 119
- Joined: 28 Aug 2015, 17:21
- 10
Re: Ray's amnesty page
That's a good suggestion. There must be others that can't easily trade the DAX. It would also give you other options if the DAX doesn't keep performing.
Ed
EdwinCAbbott@gmail.com
Ed
EdwinCAbbott@gmail.com
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
- 15
Re: Ray's amnesty page
WS30 behaves the same way and suitable so is Russel and S&P if you cna find the lowest spread and commission broker. US govt does not want retail traders to trade, as you know. The land of the free.baldeagle wrote:Yes, I wish it was easier for me to trade DAX. As a US trader I would have to get a foreign account and get up in the middle of the night to day(?) trade it. Maybe I should change my username from Baldeagle to Batman!
Well, I got 30 pips out of my trade so I am going to hang it up for the day. Thanks for the input. I will be checking in to your journal on a daily basis.
Ed
hope this helps
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
My Deathbed Advice "5:1 Reward to Risk Ratio".
Yo, banana boy!
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
I dont know what to say
16 trades
only 4 winners
drawdown - bad.
Blood pressure. All over the place.
Valium and coffee supplies. Fully utilised.
But, sticking to the system, eventually a result.
profit - superlative.
Riding down the slide from about 1300 today, lots and lots of pips, I think about 150. (That trade commenced from inside an aims box, because other conditions to go short were met in my opinion, it was quite a high box really)
Net gain +19.9 per cent. That was my month's target in a day.
Pips this week net 246 PF this week 2.38
Due to foregoing comments I wouldn't recommend anyone to copy me though unless they have a very strong constitution. I'd say the reason I took lots of losses was being too greedy this morning, and not reducing stop losses fast enough, but this strategy is justified by the ability to stay with a long trending trade, the sort which carries 8 or 10 or more % return. I think that my trading has improved by doing this, in spite of a low win rate, but I could come unstuck if we go into a period of consolidation, flag patterns and whip.
16 trades
only 4 winners
drawdown - bad.
Blood pressure. All over the place.
Valium and coffee supplies. Fully utilised.
But, sticking to the system, eventually a result.
profit - superlative.
Riding down the slide from about 1300 today, lots and lots of pips, I think about 150. (That trade commenced from inside an aims box, because other conditions to go short were met in my opinion, it was quite a high box really)
Net gain +19.9 per cent. That was my month's target in a day.
Pips this week net 246 PF this week 2.38
Due to foregoing comments I wouldn't recommend anyone to copy me though unless they have a very strong constitution. I'd say the reason I took lots of losses was being too greedy this morning, and not reducing stop losses fast enough, but this strategy is justified by the ability to stay with a long trending trade, the sort which carries 8 or 10 or more % return. I think that my trading has improved by doing this, in spite of a low win rate, but I could come unstuck if we go into a period of consolidation, flag patterns and 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."
-
baldeagle
- AIMSter
- Posts: 119
- Joined: 28 Aug 2015, 17:21
- 10
Re: Ray's amnesty page
Incredible!!! Talk about having confidence in AIMS! Good work and a good example for me.
Now if I can take Immy's suggestion (Thanks) and find an index to trade here in the land of the overtaxed and over regulated, I might feel more optimistic. I am going to start a thread for strategies for US traders.
Does anybody know if there are any journals by US traders?
Now if I can take Immy's suggestion (Thanks) and find an index to trade here in the land of the overtaxed and over regulated, I might feel more optimistic. I am going to start a thread for strategies for US traders.
Does anybody know if there are any journals by US traders?
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Broker had a broken price feed on indices (DAX, FTSE, CAC, S&P etc) this morning for 75 minutes
I don't think it was a worldwide problem, other charts still seemed to work for me
I've been short on dax since 0855 GMT, about 90 pips to the good, but trade still open
I don't think it was a worldwide problem, other charts still seemed to work for me
I've been short on dax since 0855 GMT, about 90 pips to the good, but trade still open
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
Jack Schwager
About 3 or 4 years ago my professional group saw this presentation which has recently been posted to Youtube
I recommend you guys all watch it, even 10 times, one or two bits might not be immediately acceptable, but it is epic and could give you a huge boost in your trading
People paid thousands to attend this event, the speaker is a master.
About 3 or 4 years ago my professional group saw this presentation which has recently been posted to Youtube
I recommend you guys all watch it, even 10 times, one or two bits might not be immediately acceptable, but it is epic and could give you a huge boost in your trading
People paid thousands to attend this event, the speaker is a master.
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."