Thats where the tricks of trading come into play, when to bend a rule? Its blasphemy for the beginner yet its the norm for the seasoned trader.... Is Ray a Seasoned one? I have not tasted him yet but he does look pretty darn sweet chilli ... (season season season === a slogan for the healthy eaters...)baldeagle wrote:Was that a magical trade or what? I think you must have used your intuition to stay in after three pullbacks!
Ed
Ray's amnesty page
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immy
- Founder
- Posts: 9654
- Joined: 22 Nov 2010, 16:46
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Re: Ray's amnesty page
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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azadar
- AIMSter
- Posts: 245
- Joined: 01 Dec 2012, 01:53
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Re: Ray's amnesty page
Impressive trading Ray! Keep it going. You are an inspiration for all of us 
Thank you!
Thank you!-
petera
- AIMSter
- Posts: 27
- Joined: 15 Aug 2011, 00:00
- 14
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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
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Re: Ray's amnesty page
Thanks guys
Yes I may hang on to running trades beyond the first exit signal sometimes, and I may also take some trades which are contrary to the usual rules and come out quite well from them.
Intuition is a great thing, and it takes years to get the hang of EW and other stuff which happens on the charts, I've been at it 7 years now, and ought to know how to do it all quite well, but here are a few thoughts which might be appropriate
1) If we go against the usual rules and still win, does it really do us any good?
2) Trades which are against the usual rules are the hardest ones to let go with a loss.
3) Tactics of going against the usual rules are potentially the most stressful.
Stress-free and relaxed armchair trading for me comes best from following the system which I trust, even if it is not pure Aims - knowing that even if the market goes against the signals and indicators (while I am still applying the rules), giving me a series of losses - I have statistics from hundreds and thousands of trades to show me that the system easily and handsomely wins in the long run. And nobody can say "the market has changed and the system was optimised for market patterns which don't apply any more". This will work today, tomorrow, and for months and years to come, and if Dax does not give us the ADR and low spreads, then we will hunt for another product which does!
Yes I may hang on to running trades beyond the first exit signal sometimes, and I may also take some trades which are contrary to the usual rules and come out quite well from them.
Intuition is a great thing, and it takes years to get the hang of EW and other stuff which happens on the charts, I've been at it 7 years now, and ought to know how to do it all quite well, but here are a few thoughts which might be appropriate
1) If we go against the usual rules and still win, does it really do us any good?
2) Trades which are against the usual rules are the hardest ones to let go with a loss.
3) Tactics of going against the usual rules are potentially the most stressful.
Stress-free and relaxed armchair trading for me comes best from following the system which I trust, even if it is not pure Aims - knowing that even if the market goes against the signals and indicators (while I am still applying the rules), giving me a series of losses - I have statistics from hundreds and thousands of trades to show me that the system easily and handsomely wins in the long run. And nobody can say "the market has changed and the system was optimised for market patterns which don't apply any more". This will work today, tomorrow, and for months and years to come, and if Dax does not give us the ADR and low spreads, then we will hunt for another product which does!
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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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
85 pips I think from Mr Draghi or at least the ECB at 1245GMT
Manual long entry after 5 or more minutes of pullback after recent high.
Just a quick scalp, I ought to have trailed the stop loss up but got out when I saw how much enriched I already was, by
hundreds of pounds a minute !
Manual long entry after 5 or more minutes of pullback after recent high.
Just a quick scalp, I ought to have trailed the stop loss up but got out when I saw how much enriched I already was, by
hundreds of pounds a minute !
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."
[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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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Friday was not a particularly fantastic day even though profitable
My best trade was for 66 pips, taking 2 hours in mid morning to achieve
16 trades today, I don't consider that over-trading as it was all fairly sedate - armchair finance at its best
My best trade was for 66 pips, taking 2 hours in mid morning to achieve
16 trades today, I don't consider that over-trading as it was all fairly sedate - armchair finance at its best
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."
[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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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Monday morning. 10000 level seen on Dax. For the first time in 2 months. I saw a buy signal 10 minutes before 0700 on 24 hour charts, since which it has soared more than 100 points, but I haven't had a trading signal since then on my system, so waiting patiently trying to keep disciplined, to see what the day contains.
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."
-
wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Glad to know it wasn't any of us!
FROM MBN
Serious Fraud Office drops forex price-rigging probe
March 16, 2016, 6:17 AM GMT | Written by Joseph Nordqvist
The Serious Fraud Office (SFO) has dropped a criminal investigation into allegations of price-rigging in the foreign exchange market. The SFO concluded that it found ‘insufficient evidence for a realistic prospect of conviction’.
Traders allegedly have used Internet chatrooms to organize the fixing of benchmark prices. The SFO looked carefully into activity during a 60-second window when key exchange rates are set – around 4pm each day (usually thirty seconds either side of 4pm).
“This decision follows a thorough and independent investigation lasting over one and a half years and involving in excess of half a million documents,” said an SFO statement.
The investigation began in 2014 after information was passed by the UK’s Financial Conduct Authority (FCA) to the SFO about a group of traders in a chatroom called “the Cartel” who allegedly used coded language to manipulate benchmark exchange rates to increase margins.
SFO and FCA
HSBC, UBS, JP Morgan Chase, Bank of America, RBS, and Citibank were collectively fined £2.6 billion in 2014 over rigging foreign exchange rates. The following year RBS, UBS, Citibank, JP Morgan, and Barclays were fined by US authorities for misconduct in forex trading.
The SFO said that “based on the information and material we have obtained, that there is insufficient evidence for a realistic prospect of conviction”.
“Whilst there were reasonable grounds to suspect the commission of offences involving serious or complex fraud, a detailed review of the available evidence led us to the conclusion that the alleged conduct, even if proven and taken at its highest, would not meet the evidential test required to mount a prosecution for an offence contrary to English law,” it added.
“It has further been concluded that this evidential position could not be remedied by continuing the investigation.”
Robert Barrington, executive director of Transparency International UK, was quoted by The Financial Times as saying:
“This is a case in which there was clear wrongdoing, once again in the banking sector, and yet neither the individuals involved nor their senior managers have been held to account.”
Meanwhile Mark Taylor, Dean and Professor of Finance at Warwick Business School, told the BBC:
“I’m not really that surprised. They needed cast iron evidence of collusion.
“Obviously it’s not strong enough to test in court. I don’t blame the SFO if they didn’t have the evidence.
“I’m sure there are a few relieved traders out there, to be honest. People might say there is an issue in that people got away with it, but they are innocent until proven guilty.”
London accounts for 41% of global forex turnover, followed by the US (19%), Singapore (5.7%), Japan (5.6%) and Hong Kong (4.1%).
Mr Taylor, a former adviser to the Bank of England’s Fair and Effective Markets Review, said: “It’s time to move on. It would tarnish the reputation of the City more to have this dragged out over the next year or so.”
FROM MBN
Serious Fraud Office drops forex price-rigging probe
March 16, 2016, 6:17 AM GMT | Written by Joseph Nordqvist
The Serious Fraud Office (SFO) has dropped a criminal investigation into allegations of price-rigging in the foreign exchange market. The SFO concluded that it found ‘insufficient evidence for a realistic prospect of conviction’.
Traders allegedly have used Internet chatrooms to organize the fixing of benchmark prices. The SFO looked carefully into activity during a 60-second window when key exchange rates are set – around 4pm each day (usually thirty seconds either side of 4pm).
“This decision follows a thorough and independent investigation lasting over one and a half years and involving in excess of half a million documents,” said an SFO statement.
The investigation began in 2014 after information was passed by the UK’s Financial Conduct Authority (FCA) to the SFO about a group of traders in a chatroom called “the Cartel” who allegedly used coded language to manipulate benchmark exchange rates to increase margins.
SFO and FCA
HSBC, UBS, JP Morgan Chase, Bank of America, RBS, and Citibank were collectively fined £2.6 billion in 2014 over rigging foreign exchange rates. The following year RBS, UBS, Citibank, JP Morgan, and Barclays were fined by US authorities for misconduct in forex trading.
The SFO said that “based on the information and material we have obtained, that there is insufficient evidence for a realistic prospect of conviction”.
“Whilst there were reasonable grounds to suspect the commission of offences involving serious or complex fraud, a detailed review of the available evidence led us to the conclusion that the alleged conduct, even if proven and taken at its highest, would not meet the evidential test required to mount a prosecution for an offence contrary to English law,” it added.
“It has further been concluded that this evidential position could not be remedied by continuing the investigation.”
Robert Barrington, executive director of Transparency International UK, was quoted by The Financial Times as saying:
“This is a case in which there was clear wrongdoing, once again in the banking sector, and yet neither the individuals involved nor their senior managers have been held to account.”
Meanwhile Mark Taylor, Dean and Professor of Finance at Warwick Business School, told the BBC:
“I’m not really that surprised. They needed cast iron evidence of collusion.
“Obviously it’s not strong enough to test in court. I don’t blame the SFO if they didn’t have the evidence.
“I’m sure there are a few relieved traders out there, to be honest. People might say there is an issue in that people got away with it, but they are innocent until proven guilty.”
London accounts for 41% of global forex turnover, followed by the US (19%), Singapore (5.7%), Japan (5.6%) and Hong Kong (4.1%).
Mr Taylor, a former adviser to the Bank of England’s Fair and Effective Markets Review, said: “It’s time to move on. It would tarnish the reputation of the City more to have this dragged out over the next year or so.”
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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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
32 pips
Taken out by SL near Green Line
Taken out by SL near Green Line
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."
[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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wiseambitions
- AIMSter
- Posts: 1127
- Joined: 17 Sep 2012, 21:36
- 13
Re: Ray's amnesty page
Looks like I got out about 200 pips too soon!
LONDON, March 17 European stocks fell on Thursday as a drop in airline Lufthansa and property group Immofinanz took the shine off an update from the U.S. Federal Reserve that boosted commodity share prices. REUTERS
LONDON, March 17 European stocks fell on Thursday as a drop in airline Lufthansa and property group Immofinanz took the shine off an update from the U.S. Federal Reserve that boosted commodity share prices. REUTERS
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."
[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."