Ray's amnesty page

[Dave]

Good to hear from you Ray. I've decided on the same approachx for this year... once targets are met its time to turn off the charts and be happy with and grateful for my piece of the pie. Particularly while still juggling a 'real' job. Keep up the good work, that pip count must be fast approaching retirement levels!
Dave

[wiseambitions]

Thanks Dave

Immy got shot down for talking about something, and yet I think he was very right. I'll say it once again now but probably desist myself

Try a chart with 34MA

It will obviously shadow what the AO tells you, but then please try adding 5MA.

Look at trading the crossovers, go long after a bar when 5ma moves over 34ma, short vice versa.
Watch those pips drop onto your plate

Keep an eye on the Aims boxes at the same time, sometimes the entries will be slightly inside the box but hey if that gives advantage if there is a breakout then it adds to the gain.

PS I use (H+L)/2 when drawing these MAs. If you run another 5MA with a different shift eg 2 it accentuates turning points by drawing a M or W at the top or bottom of the wave.


I won't say it any more, unless Immy or another senior aimster sees the sense in it.

[KrisL]

Hello Ray

I agree with the sentiment you expressed about giving yourself time off from trading. It is important to reward ourselves and to achieve a healthy balance with other more important aspects of life.

I'd like to give my thoughts on taking time off or packing up for the day/night, not because I think they are any better, but just as food for thought and because they are working (so far) for me.

Rather than taking time off when I reach an arbitrary daily profit goal, I'll take time off when I really feel like I've earned it. And by earning it, I mean trading patiently and consistently for several days in a row. I have a spreadsheet where I record a simple yes or no each day according to whether I've (a) followed my system to the letter, and (b) traded patiently. Three consecutive 'yes' responses definitely deserves at least an early knock off on the fourth day, partly because trading like this takes it out of me (it is mentally draining) and I need to recover, and secondly just because hard work deserves reward!

I find that rewarding myself like this encourages me to follow the process rather than the profits, and keeps me focused on the execution of individual trades rather than projecting what I want onto the market.

Also, I think it is worth taking time off if I feel like my mental state is deteriorating. For example, if I'm too tired, or if I've had a frustrating day at work, etc.

I guess this is a long winded way of saying that in my opinion rewards are important, but arbitrary rewards encourage a misdirected focus. At least for a beginner like me!

[wiseambitions]

Hello Ray

I agree with the sentiment you expressed about giving yourself time off from trading. It is important to reward ourselves and to achieve a healthy balance with other more important aspects of life.

Hey I like that idea (rewarding yourself).
There was a time last autumn I bought a new car one week and a new boat the second. Wish I could keep going on that vein, but it's very possible, with the right discipline

Good luck with it all

[KrisL]

Hey Ray

Congratulations on your purchases! I hope that one day, with enough effort, I'll trade as well as you! :-bd

Regards
Kris

[wiseambitions]

Just look on it like bricklaying and be careful not to let your walls fall down.

Also don't let disaster come upon you as per the following accident report:



I am writing in response to your request for additional information in Block 3 of the accident report form. I put "Poor planning" as the cause of my accident. You asked for a fuller explanation and I trust the following details will be sufficient.
I am a bricklayer by trade. On the day of the accident, I was working alone on the roof of a new six-storey building. When I completed my work, I found I had some bricks left over, which, when weighed later were found to be slightly in excess of 500lbs. Rather than carry the bricks down by hand, I decided to lower them in a barrel by using a pulley, which was attached to the side of the building on the sixth floor.
Securing the rope at ground level, I went up to the roof, swung the barrel out and loaded the bricks into it. Then I went down and untied the rope, holding it tightly to ensure a slow descent of the bricks. You will note in Block 11 of the accident report form that I weigh 135lbs.
Due to my surprise at being jerked off the ground so suddenly, I lost my presence of mind and forgot to let go of the rope. Needless to say, I proceeded at a rapid rate up the side of the
building. In the vicinity of the third floor, I met the barrel which was now proceeding downward at an equally impressive speed. This explains the fractured skull, minor abrasions and the broken collarbone, as listed in Section 3 of the accident report form.
Slowed only slightly, I continued my rapid ascent, not stopping until the fingers of my right hand were two knuckles deep into the pulley. Fortunately by this time I had regained my
presence of mind and was able to hold tightly to the rope, in spite of the excruciating pain I was now beginning to experience. At approximately the same time, however, the barrel of bricks hit the ground and the bottom fell out of the barrel. Now devoid of the weight of the bricks, that barrel weighed approximately 50 lbs. I refer you again to my weight.
As you might imagine, I began a Rapid descent, down the side of the building. In the vicinity of the third floor, I met the barrel coming up. This accounts for the two fractured ankles, broken tooth and severe lacerations of my legs and lower body. Here my luck began to change slightly. The encounter with the barrel seemed to slow me enough to lessen my injuries when I fell into the pile of bricks and fortunately only three vertebrae were cracked.
I am sorry to report, however, as I lay there on the pile of bricks, in pain, unable to move, I again lost my composure and presence of mind and let go of the rope and I lay there watching the empty barrel begin its journey back down onto me. This explains the two broken legs.
I hope this answers your inquiry.

[KrisL]

Thanks for sharing that Ray! :-bd Fantastic metaphor for the perils of trading if you're a bricklayer (hope I understood correctly; sometimes I'm not great with complicated metaphors). Please keep sharing your wisdom!

[Darren]

) (rofl) (rofl) (rofl) )

[immy]

From now on i will say be a brick layer but not like that one

) )

[wiseambitions]

Building sites can be dangerous, mainly by things falling (bricks!).

However this morning's 100 pipper on GBPUSD is the biggest surprise of this week to me, it was certainly unexpected by the markets that retail sales should be up 2.5% or more, particularly since I haven't been buying anything for a couple months lol


My trading style is moving away from faster TFs, I used to major on m5, but I probably take more regard now to H1, and wait for just the one or two trades it generates daily, and which I find to be quite reliable.