Don't I wish. I really think it's important we go back to the original manual and re-learn the interraction between m1 and m5,
I did a demo trade this evening, and here it is, on an m1 chart, and once it was up and in profit, and m5 was motoring, I carried on in view of what m5 was doing, alligator staying open and smooth progression upwards.
Ray's amnesty page
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wiseambitions
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Re: Ray's amnesty page
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
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Better late than never. I made nearly 20 but could have had 35 pips
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
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
I'll show my worst trade of the morning as well as my best, to prove I am capable of making mistakes as bad as any other trader on here.
I lost 20 pips on a long trade which I should have exited far earlier, perhaps with half the loss.
Took 50 profit on a short, which I had held for about an hour. Had set 50 as a TP and did not revise it mid trade
I lost 20 pips on a long trade which I should have exited far earlier, perhaps with half the loss.
Took 50 profit on a short, which I had held for about an hour. Had set 50 as a TP and did not revise it mid trade
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
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
8 pips and 31 pips this afternoon
But I was too late (by at least 5 pips) getting out of the long trade when it faded.
But I was too late (by at least 5 pips) getting out of the long trade when it faded.
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
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
i made the same mistake as yesterday TWICE this morning
Set a TP of 50 and did not reconsider changing mid=trade
Got stopped out once. Decided to go back in.
And same happened again
Anyway 100 pips is a wonderful feeling, that'll do me for today
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
Thursday morning, several consecutive losses in choppy conditions
I caught some of the pips on the rise after the Bank of England made its midday announcement
then 50 pips on its way down (chart above attached) which put me in overall profit well over target and I'm out now
I caught some of the pips on the rise after the Bank of England made its midday announcement
then 50 pips on its way down (chart above attached) which put me in overall profit well over target and I'm out 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
- 13
Re: Ray's amnesty page
DAX Friday, NFP day
I have found it interesting to compare charts of m1 with m5 after yesterday afternoon.
My luck in this one was 42 pips, (see Kiravon journal as I explained my thoughts there), but after the small pullback at which point I bailed out the market carried on up with another impulsive move and found a new level which it stuck to.
I wasn't unhappy with my result but nevertheless it is interesting to look at it in terms of m5. Seems like the luckiest person would have gone long perhaps 25 or 30 minutes before the news and held tight maybe for 75 even 100 pips.
We can't win 'em all, but I think it is important to let the winners run up. I have been experimenting with a strategy which has been a bit disappointing in terms of pips. 132 pips down in 7 days. The win rate was only 30% because mainly I traded in times when I should not (eg say 1030 to 1330), and one day the ranging carried on all the time, and ripped me off. But the beauty was the capital ended 31% up. However I kept the losers to generally below 20 (I think I could have kept them below 15) but some of the winners were 50,75 and 100.
In the last 100 trades +41% return on capital. Worst run of 20 trades -144 pips. Best run of 20 also +144 taking the good and bad together
I have found it interesting to compare charts of m1 with m5 after yesterday afternoon.
My luck in this one was 42 pips, (see Kiravon journal as I explained my thoughts there), but after the small pullback at which point I bailed out the market carried on up with another impulsive move and found a new level which it stuck to.
I wasn't unhappy with my result but nevertheless it is interesting to look at it in terms of m5. Seems like the luckiest person would have gone long perhaps 25 or 30 minutes before the news and held tight maybe for 75 even 100 pips.
We can't win 'em all, but I think it is important to let the winners run up. I have been experimenting with a strategy which has been a bit disappointing in terms of pips. 132 pips down in 7 days. The win rate was only 30% because mainly I traded in times when I should not (eg say 1030 to 1330), and one day the ranging carried on all the time, and ripped me off. But the beauty was the capital ended 31% up. However I kept the losers to generally below 20 (I think I could have kept them below 15) but some of the winners were 50,75 and 100.
In the last 100 trades +41% return on capital. Worst run of 20 trades -144 pips. Best run of 20 also +144 taking the good and bad together
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 wrote to another member recently and they suggested I should make my thoughts public, so here we go..............
............acting in best interests is so important. Preserving capital. Avoiding impulse trading. Believing the indicators. Accepting lots of small losses, but baby sitting the winners and not letting them do round trips.........
So the discipline is all of the following
Indicators and signals.
Money management - lot size whether or not stepping
Resetting and trailing stop losses during profits
Accepting small losses before they get to big losses if it looks like that's what's about to happen
watching higher time frames than the current one, eg breaks of aims for M15 v m1, H4 v m30 etc which I think are strong indicators.
Taking profits when the momentum fades.
Waiting for the next valid setup after a loss or profit is taken.
Trading only at key times of day, to avoid the doldrums.
Avoiding high impact news on lower timeframes
............acting in best interests is so important. Preserving capital. Avoiding impulse trading. Believing the indicators. Accepting lots of small losses, but baby sitting the winners and not letting them do round trips.........
So the discipline is all of the following
Indicators and signals.
Money management - lot size whether or not stepping
Resetting and trailing stop losses during profits
Accepting small losses before they get to big losses if it looks like that's what's about to happen
watching higher time frames than the current one, eg breaks of aims for M15 v m1, H4 v m30 etc which I think are strong indicators.
Taking profits when the momentum fades.
Waiting for the next valid setup after a loss or profit is taken.
Trading only at key times of day, to avoid the doldrums.
Avoiding high impact news on lower timeframes
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
This day has been somewhat lacklustre If I made even 1% today I'd be about right in my guess.
Here's a short trade and a long trade, the good thing about each is I fortunately got out in the right time even if questions could be asked about the entries. Times are London +2hrs on this picture.
I have added the 25ema of price to m1, dotted white, and yet again I see virtue in going long when 25 comes up through the teeth and taking profit when it goes back through the lips. It's just an observation I heard about a couple years ago from a Profitunity member (that's a group run by the Williams, which is somewhat dearer to belong to).
Here's a short trade and a long trade, the good thing about each is I fortunately got out in the right time even if questions could be asked about the entries. Times are London +2hrs on this picture.
I have added the 25ema of price to m1, dotted white, and yet again I see virtue in going long when 25 comes up through the teeth and taking profit when it goes back through the lips. It's just an observation I heard about a couple years ago from a Profitunity member (that's a group run by the Williams, which is somewhat dearer to belong to).
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."
