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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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  #1321 (permalink)
 wgreenie 
Cambridge, Ontario
 
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I'm not proud of my progress ..

22-26 Nov -12 (2 losers)
29 Nov - 3 Dec +1 (1 winner and 1 loser)
6-10 Dec +4 (2 winners and 1 BE)

Note: All 3 losers were due to some human errors I made. I wasn't following the entry checklist and missed divergence/price breakout etc etc.

Beth

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wgreenie View Post
I'm not proud of my progress ..

22-26 Nov -12 (2 losers)
29 Nov - 3 Dec +1 (1 winner and 1 loser)
6-10 Dec +4 (2 winners and 1 BE)

Note: All 3 losers were due to some human errors I made. I wasn't following the entry checklist and missed divergence/price breakout etc etc.

Beth

Recaps are good, but I'd like to hear about what you are going to break the cycle

Mike

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  #1323 (permalink)
 wgreenie 
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Big Mike View Post
Recaps are good, but I'd like to hear about what you are going to break the cycle

Mike

Hi Mike

I think I broke the cycle this week. All 3 trades that I took were all valid signals and I mentally checked off the entry requirements before entry and/or placed an order. As long as I continue validating every signal with my checklist, I only need to focus on

- building up more confidence/faith in myself
- polishing my trade management skill (when I'm in a trade)
- eliminating my bad habit on aiming for a better fill

Beth

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Trade With the Trend!
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  #1324 (permalink)
 wgreenie 
Cambridge, Ontario
 
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I'm scalping and do not want to stay in a trade for more than 5 minutes. Actually after 2-3 bars (2 minutes or so) and my PT is still not getting hit, I will start looking for an early exit opportunity.

Note: I am using a 3-range chart and should not take long to complete a trade IF the signal is a good one.

Beth

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Trade With the Trend!
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  #1325 (permalink)
 wgreenie 
Cambridge, Ontario
 
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There's a high probability conservative signal (with divergence) close to 9:00 am. I had every intention to enter when it broke. It did break and unfortunately went straight up within milliseconds. Only those who placed a Buy Stop order got in and not me.

I don't feel comfortable to have a Stop order and prefer a limit one. Unexpected slippage often turns a profitable signal to a losing one. When price movement is swift, slippage will happen.

Hmm, it's the only conservative signal this morning. Now I need to come to term with my preference (stay with limit) or consider placing a Stop order so that I won't be missed out.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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 MWinfrey 
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wgreenie View Post
There's a high probability conservative signal (with divergence) close to 9:00 am. I had every intention to enter when it broke. It did break and unfortunately went straight up within milliseconds. Only those who placed a Buy Stop order got in and not me.

I don't feel comfortable to have a Stop order and prefer a limit one. Unexpected slippage often turns a profitable signal to a losing one. When price movement is swift, slippage will happen.

I use stop orders but adjust my stop and target to where they would be if I hadn't gotten slippage. So, if I use a 10 tick stop, I either add or subtract the amount of slippage. I do the same for my target.

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  #1327 (permalink)
 wgreenie 
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MWinfrey View Post
I use stop orders but adjust my stop and target to where they would be if I hadn't gotten slippage. So, if I use a 10 tick stop, I either add or subtract the amount of slippage. I do the same for my target.

Great idea Mike, ie adjust PT/SL accordingly IF I get slippage. Thank you.

Happy & Successful Ticks!

Beth

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Trade With the Trend!
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  #1328 (permalink)
 wgreenie 
Cambridge, Ontario
 
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There's a good signal right at 8:30 am news. Well, no trade!

Fortunately, another one came up minutes later and I took it. Should I say I was quite prompt to enter or price movement was a little slow to accommodate me this time?! When it seemed stalling at the previous bar's Low, I exited +4. It might be too soon to close the position yet I am happy with a green trade.

It's FOMC day .. price has been quite choppy so far. Tomorrow will be another day with lots of good signals .. smile ..

Have a Successful day.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1329 (permalink)
 wgreenie 
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Enclosed were the 2 trades I took this morning.

1. First Trade (-4)

It's a valid signal with 2 divergence on the row. I stayed in the trade for 6 minutes until it made triple top .. not good sign to hold on to my short. Bailed at -4.

2. Second Trade (+2)

Started taking heat immediately upon entry. Exited +2 after which it went down and hit my PT LOL!

Note: Must add that DX did align with both trades upon entry.

Well, -2 for the day. Hey, I'm quite proud on my trade management even it's a pinky morning. More importantly, I completed my 10 live trade assignment .. Hooray!

Let me tabulate and report shortly. Continue enjoying your day.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1330 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Remember 3 is the maximum number of trades/day?! I just took my third one (supposed to be a higher probability one with divergence) minutes ago and it's +5. Did take some heat before its working to my favor. Hey, I broke my record, taking 3 live trades in one day .. haha ..

Oh, when the third one was against me, I did mumble a lot.

Soooo, 3 trades (2 winners and 1 loser) and +3 for today. Now, I don't know if I should include the new comer in my assignment .. smile ..

Beth

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