Hi Dave
Yes the power of compounding is amazing, and so is the benefit of NOT being greedy. Immy came up with the analogy last year of his friend trying to win Platinum stage in some game, and failing, but getting it when he wasn't trying so hard. I think if we're desperate then the market knows! And that is a fact of which I am convinced!
On the other hand if I targeted 1pc (for example) and achieved it and stopped for the day then quit til the next day I would get a better result by the end of the week than by keeping going.
Rather the same as your experience Dave before meeting with Aims.
So in the final analysis, like Immy says, 3.48pc is actually no meagre return. Bricklaying with bricks that get bigger!
Grants Journal [Awarded Title: Guru of the Gurus]
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wiseambitions
- AIMSter
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Re: Grants Journal
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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Grant
- Posts: 943
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Re: Grants Journal
Evening
Good day trading today and a nice start to the week. Two trades :
1. +3
2. +21
Total +24 (2.18%)
cheers
Grant
ps. Dave you can hijack my journal as much as you need to.... to add my 2 cents, i dont look at pips or % gains until the end of the day, even then if i can say that i took each and every set up as per my rules without hesitation then i have had a good day regardless of the pip total. Its when i miss or pass on set ups then i have had a bad day....
I know with the way i trade that win and loss % are roughly equal so i just trade the proper entries and exits and i trust that my average win will out perform my average loser and make me some money.
My wife now doesnt ask me if i made or lost money, she now asks did i trade all the correct set ups, quickly followed by "i just bought.........." (rofl) (rofl)
Good day trading today and a nice start to the week. Two trades :
1. +3
2. +21
Total +24 (2.18%)
cheers
Grant
ps. Dave you can hijack my journal as much as you need to.... to add my 2 cents, i dont look at pips or % gains until the end of the day, even then if i can say that i took each and every set up as per my rules without hesitation then i have had a good day regardless of the pip total. Its when i miss or pass on set ups then i have had a bad day....
I know with the way i trade that win and loss % are roughly equal so i just trade the proper entries and exits and i trust that my average win will out perform my average loser and make me some money.
My wife now doesnt ask me if i made or lost money, she now asks did i trade all the correct set ups, quickly followed by "i just bought.........." (rofl) (rofl)
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success = patience + discipline - greed
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Grant
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Re: Grants Journal
Evening,
Another solid day despite being away from my pc mid London am to NYO and missing the lovely drop.
3 trades today :
1. +12
2. -6
3. +12
Total +18 (1.64%)
pdf below
cheers
Grant
Another solid day despite being away from my pc mid London am to NYO and missing the lovely drop.
3 trades today :
1. +12
2. -6
3. +12
Total +18 (1.64%)
pdf below
cheers
Grant
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success = patience + discipline - greed
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immy
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Re: Grants Journal
The ever disciplined Grant! Salute ^:)^ Well Done my friend! You make us all proud! Your discipline, patience and consistency is worth a thousand words of praise! (hug) (wd)
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
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!
The Consistent Pursuit of DS1
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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Grant
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- Joined: 14 Aug 2011, 14:52
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Re: Grants Journal
Evening,
sat all day and saw no set ups, so no trades today.
Tomorrow is another day
Grant
sat all day and saw no set ups, so no trades today.
Tomorrow is another day
Grant
success = patience + discipline - greed
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Bettina
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wiseambitions
- AIMSter
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Re: Grants Journal
Grant wrote:Evening,
sat all day and saw no set ups, so no trades today.
Tomorrow is another day
Grant
I admire you for watching but waiting and not stepping in
It was a stupid day, prices up and down like fiddlers' elbow or whore's drawers they'd say!
Using patience is well worth it
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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Grant
- Posts: 943
- Joined: 14 Aug 2011, 14:52
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Re: Grants Journal
Evening,
Quite a let down for the end of the week as i had no trades weds, Thurs or today. Had no real chart time today so no trades was not surprising.
Which Left me at +42 (+3.82%) for the week
Have a great weekend all...
Grant
Quite a let down for the end of the week as i had no trades weds, Thurs or today. Had no real chart time today so no trades was not surprising.
Which Left me at +42 (+3.82%) for the week
Have a great weekend all...
Grant
success = patience + discipline - greed
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Grant
- Posts: 943
- Joined: 14 Aug 2011, 14:52
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Re: Grants Journal
Afternoon everyone,
Have been enjoying reading the gurus ^:)^ thread and have been blown away by the new concepts of PCs etc (so i'm still learning new tricks after 5 years)
Despite all these new entry ways the attached pic shows plain set up 1 trades from this pm on EJ...
The old ways still work and compounding is my bestest best friend..... (rofl)
A trader who i follow very closely says "i would rather be consistantly average than randomly brilliant"
Grant
Have been enjoying reading the gurus ^:)^ thread and have been blown away by the new concepts of PCs etc (so i'm still learning new tricks after 5 years)
Despite all these new entry ways the attached pic shows plain set up 1 trades from this pm on EJ...
The old ways still work and compounding is my bestest best friend..... (rofl)
A trader who i follow very closely says "i would rather be consistantly average than randomly brilliant"
Grant
You do not have the required permissions to view the files attached to this post.
success = patience + discipline - greed
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Tomi
- AIMSter
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Re: Grants Journal
Nice exits Grant! Constantly average is something that I'm aiming for, at least for now.