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Beth's Journey to Make Her Millions


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Beth's Journey to Make Her Millions

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  #1241 (permalink)
 MetalTrade 
 
 
Posts: 1,081 since May 2010

If there's anyone who deserves to make it must be you, what an amazing portion of efforts you have put into this journey, I have respect for that. 10.000 hours screen time combined with all the frustration ? Since we all talk about treating trading as a business you must count your own hours, meaning what ? 10.000 x $15 an hour ? I work at $90 per hour, that's let us say you're running behind $150.000 to $900.000 ??? If you would have known, would you have started meaning you put such an amount of effort in it to be were you are now ?


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  #1242 (permalink)
 wgreenie 
Cambridge, Ontario
 
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MetalTrade View Post
If there's anyone who deserves to make it must be you, what an amazing portion of efforts you have put into this journey, I have respect for that. 10.000 hours screen time combined with all the frustration ? Since we all talk about treating trading as a business you must count your own hours, meaning what ? 10.000 x $15 an hour ? I work at $90 per hour, that's let us say you're running behind $150.000 to $900.000 ??? If you would have known, would you have started meaning you put such an amount of effort in it to be were you are now ?

Thanks MetalTrade for your kind words which soothe me a little. I had a troubled night .. doubting about my competence .. sigh ..

The raised question is almost like asking me if I would have got married should I know that I would be facing financial issues everyday!

Back to the trading venture. I do not regret the hours and efforts spent (incl the different states of emotion I went through - some have lasted longer and happened more often than my expectation). It's an eye opening life experience. I have been applying some of them to my daily life.

Other than time, it's not a big investment on the Futures venture so far. I was burnt too much on the Option spread one (its predecessor) and have been extremely conservative with the same. Maybe it's good else I would be too aggressive and blew my account within days.

Some new ideas came to my mind .. feel free to laugh .. haha .. I laugh at myself too .. all the time ..

1. I am going to write an e-Book (tentative title: So .. you think you can trade?!) capturing my trading experiences. With what I went through (incl tons of valuable sharing from all of you) documented in this thread, I may have a bestseller .. smile ..

2. While Item 1 will take some time, I will offer some online coaching services to those who may want to give trading a try (part- or full-time). I believe I will be able to offer some constructive advice and shorten their learning path incl $$ investment and less emotion turmoil. I do have confidence in my consulting/coaching/assessment skills with a proven record in the past.

3. I will dig out a list of universities/colleges and offer free presentation.

.. .. ..

Before these creative sparkles disappear, I will start mapping out some action items this week .. haha .. Wish me luck!

Beth (N is taking me out for an anniversary lunch .. hooray! I have not told him about my 2:00 am trade ... a little secret between you and me.)

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1243 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
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Update on the 10-Trade Program:

To be replaced by a 50 Sim-Trade Program with recording/narration on each. I am going to have the entry rules written on a poster .. may even prepare a form to qualify each trade before entry .. I will take all valid signals (incl counter-trend ones) and do my very best to manage each one of them.

Focus on:

- Minimize the fear factor (seemed talking out and voicing out the next move help)
- Practise how to manage a trade .. say adjust PT/SL with a warning
- Make most trades a green one whether it's just 1 or BE

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Visit my futures io Trade Journal Started this thread
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  #1244 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
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Posts: 1,773 since Dec 2009
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The most challenging part .. ..

It hurts a lot when I do not have a more positive report for UKNOWHO. The lead in my petite heart is growing bigger and bigger. I feel extremely sad/guilty that I have been feeding him with hope that I am going to make it!

Occasionally I seemed getting very close to a milestone .. yet ..

Well, I am going to modify my resume .. simply listing out the most recent 2 jobs and make them look really administrative/clerical. This small city does not have a high demand for admin/clerical professionals. Will continue searching.

Look a little dim .. The good news: I do have enough funds for another 2 months after that I may find a job in a bigger city and consider a long-distance marriage relationship. It's not the end of the world.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1245 (permalink)
 cory 
virginia
 
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wgreenie View Post
Another one in the losing jar - gosh!

..

1. Missed the fact that it's not a valid signal. I only realized it after completion of the trade.

2. The OB condition continued after my entry. I failed noticing its hooking up which suggested an early exit.

...

Beth

1) did you check off any check list?

2) good thing you notice that you miss something, when in trade your vision is very narrow, your brain lacks oxygen so lots of stuff went missing during that time, not unlike driving while impaired.

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  #1246 (permalink)
 wgreenie 
Cambridge, Ontario
 
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cory View Post
1) did you check off any check list?

2) good thing you notice that you miss something, when in trade your vision is very narrow, your brain lacks oxygen so lots of stuff went missing during that time, not unlike driving while impaired.

Sorry Cory .. I did not check-off my check list .. that's why I missed the most important entry requirement, ie price did not break down and hit the entry at all!! It's not a valid signal oooo ..

I was not aware of the oxygen issue .. no wonder I encountered lightheadedness before. Any suggestion to rectify the same? Thank you.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Visit my futures io Trade Journal Started this thread
 
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  #1247 (permalink)
 cory 
virginia
 
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wgreenie View Post
Sorry Cory .. I did not check-off my check list .. that's why I missed the most important entry requirement, ie price did not break down and hit the entry at all!! It's not a valid signal oooo ..

I was not aware of the oxygen issue .. no wonder I encountered lightheadedness before. Any suggestion to rectify the same? Thank you.

Beth

first you learn The Bohr Effect
The Bohr Effect
then the Buteyko breathing
How to Learn The Buteyko Method to Improve Asthma | eHow.com

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  #1248 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
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Trading: 6E
 
Posts: 1,773 since Dec 2009
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cory View Post
first you learn The Bohr Effect
The Bohr Effect
then the Buteyko breathing
How to Learn The Buteyko Method to Improve Asthma | eHow.com

Thanks Cory for the additional tips! You're always so SWIFT!!

I will do more surfing on how to breathe only with my diaphragm. It's a myth to me for years. When I was doing more public speaking assignments/presentation, I often found myself running out of breath. I have a soft voice and would be great to nail it down .. haha ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Visit my futures io Trade Journal Started this thread
 
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  #1249 (permalink)
 cory 
virginia
 
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Posts: 6,096 since Jun 2009
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wgreenie View Post
Thanks Cory for the additional tips! You're always so SWIFT!!

I will do more surfing on how to breathe only with my diaphragm. It's a myth to me for years. When I was doing more public speaking assignments/presentation, I often found myself running out of breath. I have a soft voice and would be great to nail it down .. haha ..

Beth

you will eventually find out trading is all about you what goes between your ears, entry/exit makes up less than 10% of it.

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  #1250 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,203 received


More about the 50-trade program:

1. I will be using the enclosed to confirm all entry requirements are in place before entering into a trade

2. How to tabulate the 50 trades?

a. Sim or market replay (To me, they work the same way .. sim does not feel more real after months of practice.)

b. Daily Goal 8 ticks (1-contract trades for the first 2 weeks) | 16 ticks (2-contract trades for the 3rd and 4th weeks ) | 24 ticks (3-contract trades for the 5th and/or 6th week)

c. Switch to another day upon reaching or exceeding the daily goal

d. Stop trading upon completion of 50 trades

3. Performance assessment to identify any missing gaps

4. Reflection

5. What's Next?

Note: I will be using an application to record and narrate each trade.

You may think I am too aggressive. I will dig out some 6E historical data (believe I have weeks of them) and start working on the program asap with a target completion date by the end of the week. Let's wait and see what may happen ..

Beth

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