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

  #1371 (permalink)
Elite Member
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I think we all know what you mean. I live in Hawaii part time so the cold issue is not the problem, but falling asleep at 8pm is... Especially when the sun is still up. haha....

 
  #1372 (permalink)
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bluemele View Post
I think we all know what you mean. I live in Hawaii part time so the cold issue is not the problem, but falling asleep at 8pm is... Especially when the sun is still up. haha....

Hi Bluemele

Thanks for your understanding. FYI: It's getting dark (looks like 10:00 pm) when it's 5:00 pm here. The challenge is: my evening owl life is affecting my hubby too. It's a little better for the second night/day as I relocated myself to the living room. Trying to get an hour or two before 2:30 am = minutes of zozo if I get lucky. Well, at least I give it a try.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1373 (permalink)
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wgreenie View Post
When the first trade was a loser esp full SL, it really took more courage to consider a second one. When the second one did not look promising anymore, bailed at +1. I comforted myself that it's good to pay for both trades' commission lol.

Lesson learned from the first two trades: DX did worry me as it's very undecided and not aligned with the 6E signals. Will SOH when it happens again. It's better to be safe (incl missing some good trades) than sorry.

Note: The early London session usually slows down around 6:00 am EST.

Tried to zozo some minutes before 8:00 am. Forgot to activate my second alarm (thought I did) and woke up at 9:00 am. JIT to miss a good signal .. sigh .. Luckily spotted the third trade at 10:52 am and it's a baby green day of +2 .. smile ..

How's my second evening owl day?

~ my second 3-trade day (don't feel I over-trade)
~ My second green day for the new year

It's really challenging for not sleeping overnight (even I am not a heavy sleeper). Felt like a yawning monster with a big lead on my petite head. When I tried to have a short nap on our bed (not sofa in the living room), I felt very very chilled (same as yesterday). Nelson put 3 blankets on me (incl 2 winter ones) and I was still cold. Headache and watery eyes are the symptoms ..

Well, will strive my best to hang in there until end of the week.

Continue enjoying your day.

Beth

Beth
Nights are for sleeping....plenty of trades in the day time....let the folks in London trade by themselves...I suspect you will feel better and trade better....and YOUKNOWWHO will feel better...
Papa15

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  #1374 (permalink)
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papa15 View Post
Beth
Nights are for sleeping....plenty of trades in the day time....let the folks in London trade by themselves...I suspect you will feel better and trade better....and YOUKNOWWHO will feel better...
Papa15

I agree, I live on the west coast and tried to trade 6E in the early morning. No dice. It was not compatible with my families lifestyle. So had to find something to trade during our normal work hours. There are tons of traders trading 6E, ZN, GC, CL, ES, TF, etc during US trading hours. No reason not to unless you are just a night owl anyway. This game is not that important if you have to mess up the family routine to do it. Just my two cents......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1375 (permalink)
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The best moves are starting at 2AM EST, that is the morning session from Europe. Of course I have profitable trades with the USA open, but my biggest profits comes from the EU open.

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  #1376 (permalink)
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MetalTrade View Post
The best moves are starting at 2AM EST, that is the morning session from Europe. Of course I have profitable trades with the USA open, but my biggest profits comes from the EU open.

I agree. If you trade Forex, 12-2am is not a bad time to hit the whammy trades!

I can't do it, but I think she gets support from a chat room at that time too maybe?

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  #1377 (permalink)
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Thanks for the tips and support Papa15, Aztrader9, MetalTrade and Bluemele!

I just had my first morning with the daily SL reached. It's telling me I am not a "functional" evening owl. Certainly defeat the logic to stay up and upset the family life. Had an argument hours ago when I kicked UKNOWHO out of the living room when he's not sleepy .. sigh ..

I made the following mistakes in my two trades:

1. For the first one, I moved SL twice "hoping" that I would not be hit. I have to confess that I considered moving it a third time. Luckily not. It's a giant loser .. almost double the predetermined 6-pip SL. Note: -$100 and above is big in my eyes lol.

Glad that I did stop moving else I will be repeating history again. I now recall one of my early 2010 stupid mistakes .. moving SL .. hoping .. and ended up losing almost $1K on an ES trade. I even added new contracts to have a better average price then .. sigh ..

2. For the second one, I missed the fact that it might have Support just 1 pip below. Not a wise decision to Short.

Now that I over-exceed my daily SL, will I trade in the regular session this morning? I am really tempted so that I may re-gain some lost ground. If yes, I will be violating the daily game plan again .. bearing in mind that I already made the above "unforgivable" trading mistakes. I have the excuse that I was not functional and sharp enough. I could miss some really good signals when the US market opens.

Sooo, what's my decision?

I will NOT trade today and not even join the regular chatroom. I want the experience to sink in so that I will NOT make the same mistakes again. Trust me, having -16 pips and not trying to recover some pips hurts! Yet, it's important to warn myself that staying with the trading plan is MORE critical. Now I remember "There're always high probability trades waiting for me." Should I be sharp a little when I was in the first trade, I would be sensible to jump pips before the regular SL and not keep moving + hoping.

Back to zozozo now. Have a Great day everyone.

Beth

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

Last edited by wgreenie; January 5th, 2011 at 05:04 PM.
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  #1378 (permalink)
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Post-Trading Reflection:

I believe I nail down the root problem for the first trade which I kept moving the SL. I was too anxious to have a winner for the first trade! I told myself last night that I would stop after the first trade and resume zozozo.

Rather than making a sensible decision like an early exit (for the record, I did have a few chances to get out between -2 and -4), I adjusted the SL. Big Mistake!

It's really true that enthusiasm/earnestness in the wrong context will hurt. It blocks me from managing my trades in a logical manner with discipline.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1379 (permalink)
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Attention Please



Less than 10 hours sleep since Sunday has not been working for me .. sigh .. I just realized I am not an Iron Woman. Adding strain to the relationship + health issues prompt me to end my short evening owl life.

Will take things easy today and back to trade only the regular hours (8:00 am to 12:00 noon EST) starting tomorrow.

Emotion-wise: After a big losing morning, surprise surprise, I am not feeling too bad. It's no point to cry over split milk. I am just human and will be making mistakes on-and-off. For the record: it's again me (human operation issues) who is responsible for the red pips and not the system. Yes, the first one did not work yet I missed getting out with minimal damage. The second one was a no no.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1380 (permalink)
Big game hunter
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wgreenie View Post
Thanks for the tips and support Papa15, Aztrader9, MetalTrade and Bluemele!

I just had my first morning with the daily SL reached. It's telling me I am not a "functional" evening owl. Certainly destroy the logic to stay up and upset the family life. Had an argument hours ago when I kicked UKNOWHO out of the living room when he's not sleepy .. sigh ..

I made the following mistakes in my two trades:

1. For the first one, I moved SL twice "hoping" that I would not be hit. I have to confess that I considered moving it a third time. Luckily not. It's a giant loser .. almost double the predetermined 6-pip SL. Note: -$100 and above is big in my eyes lol.

Glad that I did stop moving else I will be repeating history again. I now recall one of my early 2010 stupid mistakes .. moving SL .. hoping .. and ended up losing almost $1K on an ES trade. I even added new contracts to have a better average price then .. sigh ..

2. For the second one, I missed the fact that it might have Support just 1 pip below. Not a wise decision to Short.

Now that I over-exceed my daily SL, will I trade in the regular session this morning? I am really tempted so that I may re-gain some lost ground. If yes, I will be violating the daily game plan again .. bearing in mind that I already made the above "unforgivable" trading mistakes. I have the excuse that I was not functional and sharp enough. I could miss some really good signals when the US market opens.

Sooo, what's my decision?

I will NOT trade today and not even join the regular chatroom. I want the experience to sink in so that I will NOT make the same mistakes again. Trust me, having -16 pips and not trying to recover some pips hurts! Yet, it's important to warn myself that staying with the trading plan is MORE critical. Now I remember "There're always high probability trades waiting for me." Should I be sharp a little when I was in the first trade, I would be sensible to jump pips before the regular SL and not keep moving + hoping.

Back to zozozo now. Have a Great day everyone.

Beth

Wow , great details and good for you . Good move sticking to a plan and having one in the first place which leads me to ask - when you move your stops in your favor , is it according to some objective criteria like PA or an oscillator ? Or yur just feeling like you should ? And dont beat yourself up about the short and the support 1 pip away because after the loser trade yur gonna see all types of support if its a loser and prolly not when it wins . Id like to hear what the stop moving plan is though , if its here somewhere please forgive me for not seeing it , thanks . For me I found its best when I move the stop in my favor according to the dips and rallies of an oscillator , like a CCI .

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