Ray's amnesty page

[immy]

Ray!

You're certainly on fire. my honest suggestion is, just keep doing what you're doing. Don't change a thing. Just keep doing it. its only 4th of January and you're 18% up. for God's sake! haha well done! (what other business...)

[Herbert]

Immy is certainly right Ray! No change, well done, keep it up.

I have found the same tool in different hands can have significant variance in outcome. Although the AIMS documentation is pretty well defined in detail, I would be very interested to have a look at your method of application of it. If you would be so kind as to post it here.

I am just a listener/learner, so no discussion other than your's and your viewpoint will be highly welcomed.

Thanks in advance.

Herbert

[wiseambitions]

Thanks Immy. Yes sometimes I wonder if I do have another business. Which is meant to be selling investments and stuff. Anyway I am out of trading until NFP although I had a couple wins earlier (2%). I missed the fantastic slide at around 6 to 7 this morning and doubt many other of the Brits were partaking at that time either. So the balances are up about 20% on the week, which excluded Tuesday.

Herbert. Thanks for your message. I'm still a learner too, at kindergarten stage really in respect of understanding a lot of the theory behind technical analysis. Suffice to say that Aims is fantastic because they've taken the Bill Williams system to pieces and put it together in something workable which when you follow the rules is actually coping well with Elliott Waves, Support and Resistance etc. and other techniques which professional traders use every day

So far as my application of what I do know, I am careful to trade only in the direction of the trend, not only with due respect to the purple line, but also looking at the next one or two timeframes up.

I usually wait for a clear breakout of the aims box, with other rules being satisfied, but as one of my brokers doesnt use POs within about 5 pips of the price, I have to go with instant market orders, and this gives me the chance sometimes to wait for a retracement before opening. (not always).

The other day I analysed about 100 trades from 1st October onwards. In my best week I had over 300 pips and over 50% ROI. There were interesting lessons for me in this, as it was also my first week with the new system. Not only was I glued to the system much of the time, (it's worth it to get 50% return in a week eh?) but there were a couple or three other things I was doing then. Some of which would be considered risky. One was to double the position after a losing trade (on the theory that I believed a run of consecutive bad trades was slim if I stayed with M5). So that way I got over the drawdown quickly. Please dont let me call it martingale, because it wasnt double or quits, I would not have kept increasing my risk. The second was to split my capital into small lots and sometimes get better entries. The third was to widen the SL and hang in the trade if the trend was still the right direction. And the final point was to scalp for small consistent gains eg 6 pips even if it involved 10 or more trades a day, although I would stretch the TP if I saw a wave coming. Whilst I am dissatisfied with my willingness to let winning trades run on, and I'm working on that, I think the combination of all of the foregoing made quite a good formula. I put the same mechanisms to work again this week, and in just over 30 trades in 4 1/2 days so far I've made 20pc, and fortunately not had DD of more than about 2% in the process.

I am open to criticism on all of these concepts. I live on my wits and am tryingg hard to win, but not wanting stress to get the better of me. Immy knows the power of compounding. Which is to say 1% a day would practically magnify your account by 10 at the year end. And 1.5pc would actually make it 5 times that. I believe these kind of results are there for people who have the time and aptitude and luck on their side. Indeed I am now wondering whether it would be helpful to have a thread on this forum to discuss money management and capital production. I am not looking for another system at the moment, this seems to be the most pragmatic way of stopping the losses and returning to better profit compared with bad experiences when I have let EAs loose on my platforms.!

[Herbert]

Thanks for your prompt reply Ray.

Herbert

[wiseambitions]

Oh Herbert, nice to have a bit of chatter.....

BTW Herbert was the name of wife's grandad, he was a kind sort apparently.
Worked hard manually, in spite of not much education, and ended by owning his own farm, that's the way to do it!

====
Friday. I am delighted to close the day with 4% ROI.

I got into an awful situation. My own fault. I dont know who else has done this, however instead of ordering euros in MT4, I ended up with an obscure pair which somehow got changed in the box, on which I paid a hefty margin and a horrible loss on closing!

Anyway all's well that ends well


22.84% up on the start of the week , which included Monday but not New Year's Day

I hope you have a good weekend and another good week with the system

[tombacon89]

Well done nice trading there I would definatley be enjoying the weekend on a 20% week! In your terminal on your broker if you highlight the trade you have just come out of, drag and drop it onto the chart mt4 will plot the entry and exit points for you automatically. It saves drawing and messing about, and it gives the exact entry and exit points to each trade. Many pips to you, Tom

[wiseambitions]

Well done nice trading there I would definatley be enjoying the weekend on a 20% week! In your terminal on your broker if you highlight the trade you have just come out of, drag and drop it onto the chart mt4 will plot the entry and exit points for you automatically. It saves drawing and messing about, and it gives the exact entry and exit points to each trade. Many pips to you, Tom

Hi Tom

Yes you're right about dragging the trades up to the chart. The thing about it is that my platform is on a vps. Therefore the bore about it is that I would have to copy and save the screenshot on the vps, then email it from there to me to annotate in paint and attach to a journal entry on my home machine. On the other hand I take my signals from a demo platform on my usual computer, which I can use for journal posting in one or two less steps......

I think if anyone with discipline and a mathematical mind were able to trade this stuff full time, and knew and stuck to the rules, then they could potentially see 20pc returns every week. I do know a guy who achieves even better, he seems to be attached to his charts from morning to night, and follows a system which he designed for himself, with no regard for the opinion of others. However it is necessary to get a life, and also, like you say, to enjoy weekends!


36 trades this week for me.
PF 3.45
Max DD 2.93%
136 pips this week

[wiseambitions]

This is a rough guide (E&OE) to the effect of compounding the account over 3 to 18 months at various daily gains between 0.5 and 4.0pc
I am assuming 255 trading days a year (to exclude weekends and major bank holidays).

What it says is if you made average of 1% a day consistently, then in 12 months you'd have turned £1 or $1 etc into 12.6 which would also become approximately £44/$44 in a further 6 months.

Immy is going for 10 fold growth this year as a happy outcome, and this would require him to be producing nigh on 1% daily. I'm sure there are a few experts doing it!

as it doesnt tabulate very well I'll attach a basic spreadsheet
3 6 9 12 15 18
0 1 1 1 1 1 1
0.5% 1.4 1.9 2.5 3.5 4.8 6.7
1% 1.9 3.6 6.7 12.6 23.6 44
1.50% 2.6 6.6 17.1 44.5 113 290
2% 3.5 12.3 43.9 156 543 1890
2.50% 5 23 111 542 2500 12000
3% 6 42.7 283 1877 12000 78000
3.50% 9 78.9 713 6453 56000 #
4% 12 145 1792 22000 # #

I have deliberately left some results blank (#) because they would be as long as telephone numbers and off the scale!

Good luck guys. Let's see what we can achieve by the end of 2013, I believe it's getting off to a good start.

[wiseambitions]

Very often we discuss what we have done, some omissions of course, as a matter of history

Not often do we discuss what we're in the middle of doing. So here goes.

Euro, 1735pm GMT, approx. It has been on the rise all day

The Ewaves indi, thanks Snorm, now suggests on m5 we have been in W3

It also projects TZ1 as 1.31551 on my screen, which I think would be a good target if the market carries on in the same way.

With this information, but hoping w4 won't be a painful process, and noticing dot alerts on m5 and a fractal breakout etc, not that the AO is yellow, it's green, I have taken the step of going long and hoping for a successful outcome even if a w4 experience comes in between. Set and forget. Will update later. 1810 chart attaching

1813GMT. Ewaves has recalculated TZ1 61.8 extension as 1.31695 I will leave it where it was for a while and keep an eye on the progress


21:30GMT I'm still in this trade. Although it isnt going anywhere there was another faint buy signal 20:45 candle on m5.

I'm probably tempting fate by publishing my trade, but it just seemed like a flier to try.... Will see!

[Bettina]

36 trades this week for me.

Hi Ray,

I'm fascinated by your results and still far away from that, even if I thought, that I had a mathematical mind and really try to stick to the rules.
But i have a question. What is your setup really ?
I very carefully watch M5, because I know, that this is your TF and I found only 11 red or blue dots during the last week , which you could have traded. Where did you get the setups for the other 25 trades ? Do you trade also black dots, pink, white, green ?? Or do you rely more on aims levels, trend and your feeling ?. Would be interesting to know.

Happy pips !
Bettina