Ray's amnesty page

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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

Bettina wrote:15 % per week is really phantastic.
I achieve -15% every, every, every month :(

Have a nice weekend
Bettina

Please believe me, I have had too many months of losing more than 15 per cent, especially when I have let robots loose on my account. (Most of them need banning!)

And I have lost more than 15% as a consequence of over-trading. Important to keep the risk tightly controlled.

I don't know your trading style, but I think my luck is best on M5 EURUSD traded preferably between 7am and 11am GMT. I have found it dangerous to trade when there is not a lot of price action (eg as per right now 12:30 at the time of replying to you), and I have my own thoughts about the NY session, which I am best to avoid also.

Think about those couple observations and see whether they may benefit you
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."
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Bettina
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Re: Ray's amnesty page

Unread post by Bettina »

Thanks a lot, I will think about it. i share your thought about NY session. Very often I had my 1-2 %in the morning and lost it again in the afternoon
Bettina
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

Earlier I shared some thoughts privately with Immy about how to be counted in with the small percentage (I think it's only 5%) of traders who make FX work for them and dont keep blowing up their accounts

He suggested I post the following for general consumption:


Free advice to all newbies would be

1) Don't take any notice of brokers offering 400:1 leverage etc. 50:1 and 100:1 will keep your lot size down and keep you out of ever such a lot of trouble. (Some people think they're trading at 2 pc risk, but only if they get their volume size right and dont stretch the SL mid-trade!)

2) Find a suitable system eg Aims and develop a strategy of your own inside of it, eg M5 on E/U, get extremely good at following that strategy, trust it, and do what it says, ignore the noise of other people voicing their opinion about the market, (at least half are wrong!), and don't keep altering your strategy eg to other TFs and SLs and TPs.
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."
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hammy
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Re: Ray's amnesty page

Unread post by hammy »

Bettina wrote:Thanks Ray,

my problem is, that I don't take any trades, because I always see something, why it's not a good one. Would hav been happy with your 6 pips :)
Bettina
Hi Bettina,

I've only been trading Aims for about 5 or 6 weeks but I have noticed by looking over the charts, say the EU, M5 chart that if you take every trade over a 4 hour period you will likely be in profit. What I'm saying is if you set your PO for every dot alert as per the setup rules you will get far more winning trades than rent trades. Of course most of the POs will not get triggered and you will have to cancel them, but the trades that do get triggered just follow the exit rules and you will make a net profit pretty much every day. So, I'm saying don't be afraid to set your PO for every dot alert setup and be sure to follow the Aims rules for setting SL and taking exits.
I live in Canada, so I must trade the NY session, but I only trade from NY open 13:00 GMT to London close 17:00 GMT. and I am getting lots of setup opportunities and like I said, most are winning trades. I'm still trading with small lots (0.05) until I get totally comfortable with the Aims system, but I see great potential in trading as I stated above.

good luck and don't be afraid to trade the setups !!.. (hug)

cheers !.. :)
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

Volatile between 6 am and 9am GMT, but I had a lucky start to the week, 3.5% from 10.5 pips as on chart

I might have jumped a DA, but "I just had to"


I've got visitors due in this morning, so might not partake in any more trades today. I don't want to give up my gain nor to have a trade which I would want to baby sit. If I could make 3.5% a day I'd exceed the fortune of a guy I went to school with who's already worth £375 million. Lol.

Good luck guys
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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."
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

The interesting part about this trade was that I was asleep at the time


I suppose if I was watching at the time I might have stretched the TP or manually trailed the SL somehow. Or would I ?????
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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."
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

Having promised I would not trade again Wednesday I put a couple trades on late, one of which took all night to come to glory, and both produced in excess of 20 pips and 7pc ROI

With today being thanksgiving I am not expecting much excitement the rest of today, however I did read an article on a site where someone suggested if the past history is repeated it could be more volatile tomorrow, and in which case the Aims system might come into its own again.

http://www.forexpros.com/analysis/frida ... ity-144573" onclick="window.open(this.href);return false;
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."
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

I think it's going to be a crazy day, we have just at 08:30 seen a strong reversal

Just after 07:00GMT I took 7 pips on a long trade. There were a few more pips available but it all happened like a quick spike and I didn't adjust the TP which I had set with my order.

Still, there it is, a lovely 2pc ROI.

Keep 'em coming .....
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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."
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immy
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Re: Ray's amnesty page

Unread post by immy »

Ray

You've been having good fun. Keep it up and keep em coming!

meanwhile, i'd suggest rewarding yourself with something you wanted for a long time, over the weekend. So have a Phantastik Week End! cheers \m/ \:D/
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1 :nerd

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
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Re: Ray's amnesty page

Unread post by wiseambitions »

immy wrote:Ray

You've been having good fun. Keep it up and keep em coming!

meanwhile, i'd suggest rewarding yourself with something you wanted for a long time, over the weekend. So have a Phantastik Week End! cheers \m/ \:D/
Thanks Immy,
It has been a wonderful week, in spite of being away from the screen for 1 and a half days of it.

I think I'm just a few points short of +25% for the week, which is excellent. It did involve some trades which I shouldnt have done but fortunately I didn't even get stopped out in loss once.

Have a great weekend everybody, and stay loyal to the system and it will reward you manifold.
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."
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