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

  #1161 (permalink)
Elite Member
San Diego, California
 
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Hapster's Avatar
 
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Yeah, I think it's time you started trading for realz... just my opinion, of course... I mean how long are you just going to continue with SIM???

H

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  #1162 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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I received PMs on the PriceSwingAction indicator (the old version is in the Indicators zip files) which I used on the set up. If interested, please visit the following post for the details:

https://futures.io/platforms-indicators/1272-priceactionswing-discussion.html#post16197

Yes, the HH/HL/LL/LH/DT/DB labels have been very useful to me. For example, if the suggested entry is very close to a Price Action label, I may choose to place a Stop order 1 tick above or below the same.

Have a Successful day.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1163 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Posts: 1,773 since Dec 2009
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Hapster View Post
Yeah, I think it's time you started trading for realz... just my opinion, of course... I mean how long are you just going to continue with SIM???

H

You're right Hapster. Sim is great to start off and identify DO's and DONT'S while creating one's system + developing one's trading style. Do have the urge to do real ones .. like a pilot trainee .. haha ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1164 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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When I placed the first Short, I thought it's after 10:00 am when the 2 medium priority news were over. It's right around the 9:55 am news ... oh .. Tightened SL while it did go to 6 ticks before hitting my SL. The second Long was based on the most recent HH (also OR) and Resistance on 8R. I placed a Buy Stop @701.10 (not 700.90 or 701.00) to safeguard its stucking around 00 area. Upon entry, I did tighten SL to 1 tick below the entry bar. Who knows if it may have enough strength to run.

2 trades this morning and it's a green day of 7 ticks LOL!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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Beth's Journey to Make Her Millions-tf-29-oct.jpg  
 
  #1165 (permalink)
 Vendor: www.ezcolortrading.com 
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Posts: 1,773 since Dec 2009
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Recap for October

Here it comes a crispy recap on the sim trades (only the first one mostly in the morning) I did between 13 October and 29 October (13 trading days):

No of Trades: 12 (all 1-contract trades)
No of Winner/Loser: 10 Winners/1 BE/1 Loser (I counted the first one -5 I did this morning)
Winning Tabulation: Biggest Winners 4 (+12) | Winners 1 (+11) / 1 (+10) / 2 (+8) / 1 (+7) / Winner 1 (+1) | BE 1 (0) | Biggest Loser 1 (-5)
Total Ticks: 88 before commission
Net $ after commission: 88 x $10 - (12 x $4.01) = $831.88

Looking at the recap, feel like I did succeed in managing SL quite successfully. It's a Great month .. haha ..

Take care and enjoy a Relaxing weekend.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
The following 4 users say Thank You to wgreenie for this post:
 
  #1166 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Tabulation of Expectancy based on Big Mike's sharing in the following post:

https://futures.io/journals-daily-charts-chart-reading/2630-beths-journey-make-her-millions-88.html#post53926

Oct stats:

- 12 total trades
- 11 winning trades (incl 1 BE)
- 1 losing trade
- Probability of win = 92%
- Probability of loss = 8%
- Commission cost = $48.12
- Average commission per trade = $4.01
- Winning trades produced +93 ticks $930
- Losing trade produced -5 ticks -$50
- Average winning trade after commission = $80.54
- Average losing trade after commission = -$54.01
- Net profit after commission per trade = $69.32

Expectancy is (0.92*80.54) - (0.08*54.01) = 69.78

Question please: What's the acceptable/ideal expectancy rate? Thank you.

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:
 
  #1167 (permalink)
Site Administrator
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It basically means that over <x> trades you can be expected to make <y> per trade.

If you look at a larger sample, say 100+ trades, and it is positive expectancy, you are making money Make sure and don't forget commissions and/or slippage (which you have included, good job).

If the expectancy value is $10 then you can expect to make, on average, over a similar sample size, $10 net per trade. etc etc.

Mike

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  #1168 (permalink)
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cory View Post
you need to built more beliefs in your system, the key thing is making notes and printing charts, once you have enough materials you could pick out a couple of high winners, make a check list of what to do before & during the trade to check them off one by one. This is to check them off when you go live because you will forget things to look for for sure. After 100 of trades you can throw out the check list.

Thanks Cory for your kind suggestion. Yes, I've been using my thread to document what I experienced both good and bad. It's an effective tool for me to identify the following Ws:

- When to trade (I prefer the morning session by 11:30 am)
- What to use (I am quite content with the current system)
- Where to enter (when both 8R and 4R mostly align)
- How to manage a trade (PT/SL and decision to exit early)
- Who is responsible (Me of course and no one else)

Yes, I do have a checklist handy .. still peeking at my notes now and then .. smile.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1169 (permalink)
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Hello Beth. Thanks for a great thread. I downloaded the indicators and templates but i'm confused about one thing. In your screen shots it shows one chart being an 8 range and the other being a 4 better renko. Is that what you are using?

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  #1170 (permalink)
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tripper22 View Post
Hello Beth. Thanks for a great thread. I downloaded the indicators and templates but i'm confused about one thing. In your screen shots it shows one chart being an 8 range and the other being a 4 better renko. Is that what you are using?

Hi Tripper22

Thanks for your kind reminder. It's in my dream last night. Yes, I used 4 Better Renko and you will find more information from the following thread:

https://futures.io/elite-circle/4978-better-renko.html

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!

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