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Beth's Journey to Make Her Millions
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Beth's Journey to Make Her Millions

  #1121 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
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Autobot View Post
I'm curious about what your plan is for going live...do you have defined goals or stats that you need to achieve on sim before going live?

Thanks Autobot for your kind encouragement.

1. IB Breakout

It's a simple set-up and really depends on how comfortable I'm with the historical successful rate (over 90% to reach 20% of the IB range) OR wait to have more sim-trade experiences before going live. As of this moment, it's too early for me to decide though I did go through 30-60 days historical data and it's over 80% profitable.

2. Regular Set-up

Having nailed down the entry point (with specific guidelines), I feel more confident in placing a trade. To-be enhanced tasks include:

1) Trade management such as adjust PT and/or SL when a trade is or is not working, stay with predetermined PT/SL and no "if", and let a trade run (this will possibly be a 2nd stage concern when I am doing 2-contract trades).

2) Emotional barrier - This is the most challenging as I do have a visible (even it's invisible) financial burden in my head. Even my sim-trade performance has proved to me that I have the competence to regain the lost ground and often ended the day/week in Green, I have not yet convinced myself that I can do it live!!

The emotional barrier is the major obstacle I'm facing right now. No longer about set-up or indicators or sim performance. These days I'm tabulating my balance sheet. It's fine if I blow up my Mirus account once (unlikely to happen as I will probably stop when 50% are down the drains). In short, it's me.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
The following user says Thank You to wgreenie for this post:
 
  #1122 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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gulabv View Post
Hi Beth,

Welcome back! What does the 20% refer to?

Thanks,
gulabv

Thanks Gulabv! Oh, I'm back part-time .. smile ..

I came across the enclosed when watching the Market Profile Part II seminar (hosted by Fiki). Based on Cun Paris' sharing, historical statistics indicated that an IB breakout reached 20% of the IB range over 90% of the time.

Note: IB = Initial Balance = High and Low of the first two 30-minute bars from 9:30 am to 10:30 am.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-range-n-ib-targets.jpg  
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  #1123 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
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Almost forgot to mention I have an 8-Range chart for trending + endorsing a higher probability trade. Per enclosed, you will notice the highlighted ellipse on the 8R chart corresponded to the buy UpTriangle on the 4R chart. They also coincided with price's breaking the first 30-minute High. To me, it's a triple profitable trade!

Note:

1. The thick black lines on the 8R chart were the IB lines.

2. The thick black lines on the 4R chart were the H/L of the first 30 minutes.

Before the break, I was confused on how to use a higher timeframe chart for trending and/or confirming a smaller timeframe signal. Now I can see how they complement each other. Note to DavidR: I did go through the sym charts and notes you generously shared with me weeks ago. They're making more sense to me now and I'm having the HL/% labels on .. haha ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-higher-timeframe-trend.jpg  
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  #1124 (permalink)
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Using Higher timeframe chart to endorse a smaller timeframe signal

I would like to express my warmest thanks to Perry for sharing the subject idea with me/us weeks ago. It took me some weeks to figure out ..

I replaced the FI and ADX indicators with the ones on Panel 2 mainly because above/below 0 and lime/dark green color changes help alerting me of trend reversal = warning for an early exit if I am in a trade. I'd like to add that DMplus indicator on Panel 3 helps me staying with the trend and avoids choppy signals.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1125 (permalink)
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Beth, nice to see you posting again



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  #1126 (permalink)
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Upon completion of the Initial Balance (707.10-701.20 almost 6 points), it did try to breakout. The thick ADX line on Panel 3 has been orange yellow most of the morning .. meaning choppy. I had a Buy order in (during its pullback) and practised my trade management skill LOL! When it did not look promising (reached 5 ticks max), I exited the position with 1 tick .. just enough to pay for the commission.

No other trades even 8R aligned with 4R signals. Why? ADX line (momentum) has been weak. I don't mind testing the IB breakout while staying disciplined for the regular set-up .. haha ..

Note: The highlighted ellipses showed the IB breakout sim-trade while the earlier markers were triggered by an auto-strategy I am sim-trading.

Our hub has not been working normal these 2 days .. after the investment we made in buying the hub and antenna etc in Jul. My guess: with more users = the traffic is heavier and the vendor does not have the required capacity to accommodate us. We just placed a troubleshooting ticket .. hoping to draw their attention to make it better for us. Wish us luck!

Happy & Successful Ticks!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-ib-breakout-14-oct.jpg  
 
  #1127 (permalink)
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wgreenie View Post
Upon completion of the Initial Balance (707.10-701.20 almost 6 points), it did try to breakout. The thick ADX line on Panel 3 has been orange yellow most of the morning .. meaning choppy. I had a Buy order in (during its pullback) and practised my trade management skill LOL! When it did not look promising (reached 5 ticks max), I exited the position with 1 tick .. just enough to pay for the commission.

No other trades even 8R aligned with 4R signals. Why? ADX line (momentum) has been weak. I don't mind testing the IB breakout while staying disciplined for the regular set-up .. haha ..

Note: The highlighted ellipses showed the IB breakout sim-trade while the earlier markers were triggered by an auto-strategy I am sim-trading.

Our hub has not been working normal these 2 days .. after the investment we made in buying the hub and antenna etc in Jul. My guess: with more users = the traffic is heavier and the vendor does not have the required capacity to accommodate us. We just placed a troubleshooting ticket .. hoping to draw their attention to make it better for us. Wish us luck!

Happy & Successful Ticks!

Beth

Why are you using a 13 period for the DMPlus indicator. This possible the reason you are getting CHOP signals most of the time. Try a 5 period and seee the difference.

The following user says Thank You to perryg for this post:
 
  #1128 (permalink)
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Quoting 
Try a 5 period and see the difference.

Big Big Thank You to Perry for your suggestion. More trade-able signals with the change!!

I must have tested out the 14 period effectiveness based on some articles' default setting suggestion and forgot to revert back to 5 ...

Just got an update from the Hub vendor. They have some system issues and give us a raincheck that it should be back to normal this Sun. If yes, I will start cushioning real trades next week .. haha ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-dmplus-5.jpg  
 
  #1129 (permalink)
 Vendor: www.ezcolortrading.com 
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Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,196 received

Trade based on the regular set up .. here it comes ..

You can tell the 4R Long signal aligned with 8R. Instead of entering at 702.00 or 702.01, I placed a Buy stop @702.05 which was 1 tick above the Upper Donchian line. To me, it's like Resistance. Left the station after placing the trade. Came back and noticed it touched 12 PT and not filled. Adjusted PT to 10 and exited profitably.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-tf-sim-trade-14-oct.jpg  
 
  #1130 (permalink)
 Vendor: www.ezcolortrading.com 
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Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,196 received

O/T


I did 2 more Short .. OT practice since I really hope to do some live profitable trades next week ..

1. First Short - I entered when 8R looked more promising. Closed position with 4 ticks when it's getting very close to 2:30 pm (bond closing). Did not want to get stucked and price reversed.

2. Second Short - I placed a Sell Stop 1 tick below the most recent LL. A smooth sail for this one to reach 12 PT. I did not bother adjusting 12 SL since it started working to my favor immediately. Note: Order was filled 4 ticks in favor.

Done for the day.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-tf-sim-trade-14-oct-2-more.jpg  

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