Ray's amnesty page

[kooky]

Ray, I wont say, are you Serious, because you obviously are!!!!!!
But 7600 pips OMG

ARE YOU SERIOUS????????? (rofl) (wd)

[wiseambitions]

Thanks Kooky.

I went to see a firm of insolvency practitioners last week who wanted to understand what this trading business was all about, as it is the reason for quite a lot of work for them nowadays!

Main messages to give them from what we know here are A) Don't overtrade B) Let go of the losers according to your plan

I showed my account and got called an adrenaline junky!

I believe if you can measure it you can manage it, and the thing about keeping tally of the pip count in the context of 20 trades is fantastic. It allows me to analyse what I might have done wrong if I hit sticky patches where the count in 20 trades is negative, (hey it has to be my fault, no good blaming the market!), and helps show the worth of sticking to the plan. It doesn't matter how many pips you get if your biggest trades are the losers (!), you want the bigger positions to generally be the winners of course, and you need to be happy with steady growth. As I often say 1% a day multiplies an account by 11 in a year, or at 2% it achieves the same in 6 months, 3% does it in 4 months. How much more do you need or want?

[wiseambitions]

The following quotation in my opinion is to do with chaos theory, but it wasn't in an article connected with market movements,

actually I found it today in a discussion about tuning pianos (!) which happens to be a sideline of mine.

"There's no such thing as a computer program that can generate a random number. Even taking a sample from a live white noise microphone is predicated on the Brownian motion of the air molecules, and the thermal noise floor of the electrons in the recording electronics, which are all based on physics. One might even consider the idea that nothing in the universe is truly random, and that even our own thoughts and actions are simply chemical reactions with a predictable outcome.

So if the next thing I read connects music with trading I would not be surprised, everything in the cosmos does seem to be inter-related.

BTW The bloke who did write the above got "crackpot alert". We are of course all deemed to be a bit whacky according to people who don't understand what Bill Williams was preaching about.

[wiseambitions]

Dax is only an index of 30 shares. Unlike Footsie, which is of 100

Individual companies can cause bigger distortions. We are in a period now of a week or two weeks where companies are announcing trading figures. Today BASF have disclosed theirs, resulting in a 3% price drop. Weighing heavily on DAX

But I'm carrying on as normal.......... just hoping for a good result from the usual system

[wiseambitions]

Nothing to do with Aims, but it does tend to do something similar (eg on box breakouts) and for scalping it easily gives me 100 pips a a day (150 or more yesterday).

Two simple lines.
EMA 6 (H plus L/2)
EMA 50
No need to displace them by any number of bars.

The crossovers are quite strong inflection points. Example Dax M1 0905 GMT today.
Don't give up your day job and don't give up on Chaos, retain your usual chart template, but it is simple and it works profitably for me.
I use it on Dax M1 daytime and on AUDUSD M1 if I am bored enough to want to trade out of European hours.

[wiseambitions]

Returns per 20 trades in pips terms seemed to go right out the window today, although I was reasonably well disciplined.

Consequently from 46 trades only up by 3 pips

But return on capital was 10.16% which was amazing. Max drawdown 0.77%. I won 54% of my trades, which is below my par but I can justify that it is not important.

It's all about money management, and I suppose that's where I did get it right....... a combination of position size, profits taken and losses accepted trade by trade.......

Nevertheless, not easy to explain, but for me it is a case of carrying on doing what I find works well.

[wiseambitions]

Tuesday afternoon

Re DAX30

11250 would be a breach of H4 support

It is so near already, and if it does break it will probably clatter down more (IMHO).....

[wiseambitions]

re the above, the break happened fast, and offered me a quick 20 pips in 58 seconds. That's the way I like it, I haven't got the time to baby sit a long trade this afternoon

[wiseambitions]

50 pips today, fairly low-stress, using the tactics which appealed to Kiravon (his musings in November are worth reading!) as well as watching for what the aims levels were doing.

Max DD 0.65%, ROI 5.0% (phenomenal for the low risk I was taking) from 14 tries, 71% of which were winners. I could have still done better but I had a few distractions.

And now, when I look back on the day, it looks so easy compared with the self imposed difficulties I faced, all we needed to do was sell short at open, been patient for the morning when nothing happened for a while, and let the price run down all day...... for about 120 pips. But when we are in the thick of it we see signals to reverse, and I notice now that most of my long trades were unprofitable, I should have observed the purple line, and only gone the direction of the trend.

[wiseambitions]

I remember 13:30 GMT this time last month, instant fluctuation when Draghi and his sidekicks came on, (too fast for my broker to cope with), then a long uptrend for the rest of the day.

And to preserve profits already made today (3.6% ROI, 0.8% max DD) I have decided to quit and chillax instead

I don't know what caused the 150 pipper (on Dax30) at 12:40, euro also went up a lot v Dollar at the time.