Ray's amnesty page

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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

Awwww thank you Immy, how did you know that little secret ? hehe

I don't know where the years have gone, but let me say I have a lot to be grateful for :)


Have a good weekend everyone!

Remember the power of ONE. One per cent a day = 1100% account growth (if you roll it up) in a year. And it definitely works. If you try for too many per cent a day, unfortunately it's like interfering with the goose that lays the golden egg, something seems to go wrong.... A steady one a day is enough to make millions!
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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baldeagle
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Re: Ray's amnesty page

Unread post by baldeagle »

Happy Birthday Ray!

Hope you got a lot of pips for your birthday. I usually go off to the woods, ocean or a lake on my BD to reflect on my life. Not worth it. Pips would be better!

Ed
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Hill
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Re: Ray's amnesty page

Unread post by Hill »

Happy Birthday, Ray.
True, 1% makes great difference over a time; I settle with the gain of just a bit above half percent a day. It can be achieved with any simple method. Money Management is the Key
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immy
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Re: Ray's amnesty page

Unread post by immy »

1% a Day... I wish...
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 »

1pc a day is not as easy as it sounds, but it is a realistic target, i.e. 5 days in a week, 2 losses of 1%, 1 gain of 1%, 3 gains of 2% is the kind of output that is required

Like I say going for too much can ruin things because emotions come in and we disobey signals, get the MM wrong and generally mess up our progress

I seem to do better by trading less rather than more..........
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 »

In trading, I'm sure you know very well, its a hypothetical figure. Most don't get to "trading with a positive balance" at the end of the year.

There is a fundamental problem with 1% a day. A beginner loves instant gratification concept. They usually live or die at the outcome of an individual trade. So having a DAILY 1% "target" is extremely detrimental to trading success. IMHO> On the contrary if you make it 5% a Week or 20% a month target instead of 1% a day target, you will perhaps exceed those targets on a day to day basis but some days might be losing as well. So, what works for me, is to talk about Averages.

Cricket season is starting and instead of "targeting" for 3 centuries this season, I'd go for maintain an average above 30 runs per match. e.g. last season its was slightly under 40, included NO centuries, but plenty of 50's and some DUCKS... :) the day I had a duck, I would be willing to kill my self and the day I hit 100 I'd be the king of the world... Luckily, not in my case. My main "objective" of CRICKET is 1. Staying Healthy 2. Having Fun... I learned that although scoring runs is a lot of fun, fun was NOT dependant on the number on the score board. IT was more connected to social interactions and how we played as a team.

In trading if the objective becomes "1%" a day, the fun of trading would be immediately crushed. That's in my opinion and could be entirely wrong from another persons perspective.

In the end I'd say, and I must agree, that the maths behind the power of 1% "compounded" or even 1% a week compounded is phenomenal. Not to be taken lightly.
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 »

I like your cricket analogy
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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baldeagle
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Re: Ray's amnesty page

Unread post by baldeagle »

I don't always get some of your English analogies. Is that crikey or cricket? Centries, ducks,? I think I get the jest. We are not shooting for Ducks!
Ed
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

Watching dollar strength Tuesday AM (FO/LO) v JPY. m5. Hunt/Cherry on m5 has given at least 3 buy signals which could have been mildly profitable. No such signals on m1 or m15. System is looking for price to be outside of an upper and a lower channel, watching for price to retrace 3 bars back towards those channels, then "thinking" price could burst away again. While it pays to have a bit of intuition as to where the action is relative to Elliott Wave I haven't managed to find another indicator which would confirm the signal, except I did watch price bounce off the daily pivot at one time, I am not a pivot trader but price can strongly respect such levels, In the second chart the first 2 cherry signals would have been loss making but the 3rd would have been potentially great..
2017-04-25_0910profitable_cherry.png
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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."
Top
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wiseambitions
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Re: Ray's amnesty page

Unread post by wiseambitions »

0945 Dax m5. There have been two bearish hunt cherries on m5, which is declining this morning (but has leveled out for 12 bars) and although alligator points downhill I would actually be sceptical due to AO rising. The first signal would have been loss inducing I will watch and see what happens with the 2nd.
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."
Top
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