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

  #111 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
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Alinghy View Post
... this is not a fixed rule but often happens very often !

Thanks Alinghy for point that out! Oh, you caught me! I was doing a counter-trend trade (missing the first 2 signals) and lowered PT to 3 ticks. Most of the indicators were red on both volume charts EXCEPT the price bar was technically still above the Yellow EBand on the 7500 volume chart. Hmm, seemed to me that it would be my last chance to do a trade (before 11:00 am) and I took it!

Okay, a baby black piggie on my nose LOL!

Beth

 
  #112 (permalink)
Elite Member
London
 
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Alinghy's Avatar
 
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Hi Beth,

dont worry . This is one of the most difficult games in our actual world.

No one can say for sure what will happen tomorrow on the Market: also

those who are following the MP (Market Profile) can only plan what will the Market do the

next day especially looking to the first hours of the new day;

they can only delineate a range in which the Market will act, but there are some good items

that could help to forecast with a little advance where the snake will go in the short time.

If you like to learn a little better about the MP, I can suggest what I define a real specialist

in this field ( nothing less for BM, it's clear) with a long story and experience in the

Exchange: Mr. Charles Cochran (to avoid lose of time add to name and lastname also

the word "futures") . I dont want to mention the Team in which he is acting,

because I dont like advertizing, but will be easy for you look for him with the help of Google and

find out where to follow his course in a free trial, about MP .

I think he will surprise you for the good and easy way he explains how to read the market

and better how he looks cleverly inside the future moves of some "futures instrument" .

Regards
Alinghy


Last edited by Alinghy; April 8th, 2010 at 06:15 PM.
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  #113 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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



Alinghy View Post
If you like to learn a little better about the MP, I can suggest what I define a real specialist in this field ( nothing less for BM, it's clear) with a long story and experience in the Exchange: Mr. Charles Cochran

Super-mega Big Big Thank You Alinghy! I just found him.

Beth

 
  #114 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Posts: 1,773 since Dec 2009
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No Official Sim Trades Today

Nelson is starting a new job this week. Need to tackle "him" more LOL! (He just left the house.) Sooo, no sim trades on the d9/KP/Wizard combo set-up this morning as I just returned to my trading station.

The SuperTrend strategy has triggered a long @1186.75 aro 9:40. It went up 6 ticks before falling. It's still in after almost 1.5 hours. Maybe it will get its 3-point PT or .. ..

I have 2 5-minute ES charts with Atlas on 2 PCs (exactly the same setting), ie using ZenFire and Interactive Brokers respectively. The IB one has triggered the following 2 trades:

1. Long @1186.25: It went up 4 ticks before hitting its 3-point SL.

2. Long @1185.75: It went up 5 ticks. The trade is still on since one of the 2-point PT/3-point SL is not hit yet.

My question is: Why the Atlas chart (ZenFire) has a complete different Atlas line (up and not down) and has not triggered any trades (will be short if it does)?? Well, on a second thought, at least it's not triggered any losing trades if the trend should be long trades only?!! Appreciate any thought to resolve this myth.

My Plan:

1. Market Profile (MP)

I've registered for a MP webinar. Thanks to Big Mike and Ben. To benefit more from it, I will go through the MP training materials at the following (Thanks to my friend Ann):

Enthios Universal Method

Note: No advertising as the owner is too occupied to update the site since 2008. Some of the links (blogs and free MP book) are not valid anymore.

2. YM Strategies

I will do a weekly tabulation on the 4 YM strategies. Will probably remove 2 of them for next week.

3. Trading System/Set-up

Will review the tools/systems/indicators I'm using this week (incl the new comers Atlas Line and SuperTrend) and decide what to use for next week's sim trading.

Enjoy a Great weekend. I will be back next week .. smile ..

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-06-10-09_04_2010-4-min-.jpg   Beth's Journey to Make Her Millions-es-06-10-09_04_2010-5-min-ib.jpg   Beth's Journey to Make Her Millions-es-06-10-4_9_2010-5-min-zenfire.jpg  

Last edited by wgreenie; April 9th, 2010 at 12:41 PM. Reason: Atlas' 1st trade was a Long (not Short) .. sorry.
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  #115 (permalink)
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Update

1. Atlas Line's 2nd long trade just got its 2-point PT.

2. SuperTrend's long trade (since 9:40 am) went up 2 points (still far from its PT). If it's for real $$, I would choose to close it when it hit 6 ticks around 10:05 am or 6-8 ticks minutes ago (2nd chance after an hour). Well, it's down to 3 ticks now.

Beth

 
  #116 (permalink)
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Posts: 1,773 since Dec 2009
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Closing the SuperTrend trade @7 ticks Profit

I just closed the trade @7 ticks profit. After 2 hours of labor (+ who knows what may happen during lunch (lunch time buyers or sellers)), I believe it's a right decision. Agree??

I captured this trade on the enclosed 7500 volume chart. To have a 5-point SL cushion, the trade has the time and room to wait for a retrace and ended up a profitable trade. Having said that, it may not work all the time and one should be prepared to have the 5-point SL get hit if it goes just one direction.

Well, I made $82.5 sim $$ (after commission) on this trade .. haha .. If I am allowed to include this strategy trade in my weekly report, I am Green Green for the week!!

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-06-10-4_9_2010-7500-volume-.jpg  
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  #117 (permalink)
Elite Member
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Hi Beth,
Luv your posts...you are a very gracious lady. Was wondering, have you ever tried Range Bars? They are so much easier for me to use. Take a look and let us know your opinion.
thanks, Mike

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  #118 (permalink)
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tigerman View Post
Was wondering, have you ever tried Range Bars? They are so much easier for me to use.

Thanks Mike for your kind compliments. You have made my weekend!

For my YM strategies, I've switched from 4-tick MedianRenko set-up to 6-RangeNoGap one for testing. I believe it's very similar to regular Range. I used RangeNoGap because it closely matches the MedianRenko chart.

I like Range bars too because each bar has the same number of price increments. Thanks to Jeff (creator of All You Need thread) and Vic. Both gentlemen provided me with the same link on Range bar so that I can better understand its features and benefits. The link is on my other thread (The Wizard Automated), posted around March 10-11.

For ES, I may consider a 4-Range set-up IF I am going to use the SuperTrend indicator. Big Mike has recommended Range in one of his SuperTrend posts.

BTW: The SuperTrend indicator is available in the Download section.

Have a Nice weekend.

Beth

 
  #119 (permalink)
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Posts: 1,773 since Dec 2009
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To-do Items this Coming Week

Believe you're enjoying your weekend. Mine has been a fruitful one.

1. Market Profile

Visited a few threads and websites all are Market Profile-related. Gained basic understanding on MP incl popular terms like POC (Point of Control), VPC (Virgin or Naked Point of Control), VA (Value Area) and IB (Initial Balance) etc. It's an interesting trading tool for sure. More to explore.

I will see if I can resolve some myths such as

- how to have the VPCs showing so that I can locate the two required to prepare the NTR (Natural Trading Range) for the day

- add at least one oscillator indicator (such as Stochs) to confirm the MP signal

If yes, I will have a 5-minute chart with MP and Osc indicator on. Play with it to confirm my understanding.

2. Automation to trade YM

I reviewed the sim trade results of the 4 YM strategies (based on The Wizard, d9 and futures.io (formerly BMT)) for the past 3 weeks. Will only run 2 of them this coming week. These remaining 2 are slightly profitable. One will not get extremely wealthy with them "yet" .. smile .. Certainly one will not lose a ranch trading with them as well!

3. Atlas Line

Could be a random line and not sure if one can trade consistently profitable with its signals. Some doubt on how reliable they are! No harm to have it on for a few more days.

4. SuperTrend Indicator

I added an audio alert to the indicator. Will have a 4-minute or 4-Range ES chart on this week using Frostbyte's setting (14, 1.89).

With so much learning on my plate, I've decided not to place any official ES sim trades this coming week using the combo set-up (The Wizard, d9 and KP). Instead, focus on Item Nos 1 and 4 while having Item Nos 2-3 running.

Last but not least, I MUST implement a healthier life schedule. It shocked me that I have switched back to a 24/7 workaholic schedule. Indicators/systems have been in my mind/dreams. I got stucked with the trading station for hours before taking a 30-second break. I hope I am a Super Lady and unfortunately I'm not .. else I will vanish ..

Learning should be a fun one IF I am going to make it LOL!

Beth

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  #120 (permalink)
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ES - 1 SuperTrend Trade this morning


I have the SuperTrend indicator (with audio alert) on both 4-Range and 4-Minute ES charts this morning. You will notice from the enclosed that both triggered a short (pink arrows). The 4-Range signal was 3 minutes sooner (@1193) and the 4-minute one got in @1192. Price went down to 1190.75 before going up. I closed both at 11:30 am before the lunch time buyers/sellers rushing in LOL!

Only 1 day does not confirm if Range set-up is better than a minute one. Will see!

Now that I am exposed to Market Profile, I believe the three important values (POC (Point of Control), VAH (Value Area High) and VAL (Value Area Low)) of the previous day and current day will help setting up a more realistic profit target.

Note: 1188.5/1194.5 are VAHs | 1187/1193.5 are POCs | 1185.5/1192.5 are VALs.

My next move:

1. Based on what I learned from the Universal Method, will try to incorporate some osc indicators to complement the MP set-up.

2. Can't wait for the MP webinar this Sun and learn from Ben and Big Mike .. haha ..

Continue enjoying your day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-06-10-4_12_2010-4-range-.jpg   Beth's Journey to Make Her Millions-market-profile-es-fri-n-mon.jpg  

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