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

  #1441 (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
Thanks: 1,258 given, 1,196 received

I spent some time to study the new Ergodic indicator (Panel 3 + plotting text labels on Price Panel). According to the Ergodic system, they use 3 volume charts (16807 for Trending, 2401 for Decision and 343 for Entry). Prime Resistance/Support = 10/-10 on the histogram (= ERG Osc in Prime I believe). PPF = Previous Price Failure. You can tell I'm not getting too far .. sigh ..

I will stay with the existing one (Panel 2 + overlay on Price Panel) and have identified the following:

1. Main/Signal lines crossover at Zero is a safer place to enter Long/Short
2. -20/+20 (or -25/+20) = OB/OS = Resistance/Support .. may go with Short/Long when aligns with a trade signal
3. -40/+40 extremes .. likely to be counter-trend trades with a few align with the trend

Note: Before considering the above, the direction of Signal line MUST align with the trend else no trade.

Am not going to squeeze in the new comer to the existing chart. Instead will have a minimized one in the background and do a comparison in the afternoon. Will be great if I can make use of its feature(s). No big deal if I can't .. I welcome any tips on how to use it as an effective filter. Thanks in advance.

Have a Successful week ahead.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-cl-03-11-3-range-2_4_2011.jpg  
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  #1442 (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
Thanks: 1,258 given, 1,196 received

I did 2 baby trades (both divergence plays) this morning .. baby ones because I bailed lol!

1. Trade No 1 was a 6E short. It went +3 .. then stalled around my entry -2 for the next 3 minutes. You know me .. I bailed at +1 before it dropped almost 20. You can tell from the enclosed that the slower Ergodic indicator (Panel 2) is more conservative. If one entered with its confirmation (not the faster one on Panel 3), it could be a smoother ride. Well, it's based on historical data .. and no "If"!

2. Trade No 2 was a CL long. Entry price was hit and up +4 before my order was filled. SL 6 almost got hit (-5) and I bailed at +2. If I was fast enough to catch it upfront, it would be a BE trade for me. I got lucky .. haha ..

Note: Remember I focussed on CL only last week. Am now quite familiar with the Ergodic indicators (fast and slow) and will have 6E on this week.

I finished reviewing the chart with the new Ergodic indicator. Has not triggered any new ideas yet. Will monitor it for a few more days before the next move.

Have a Successful week everyone.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-7-feb.jpg   Beth's Journey to Make Her Millions-6e-03-11-3-range-2_7_2011.jpg   Beth's Journey to Make Her Millions-cl-03-11-3-range-2_7_2011.jpg  
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  #1443 (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
Thanks: 1,258 given, 1,196 received


A crispy weekly update ..

1. I swear I can spot tons of good signals (both regular and divergence ones) esp when they aligned with Ergodic.

2. My fingers have been frozen all the time .. as days went by (Tue - Wed - Thu) .. I was getting more and more frustrated on my incompetence.

3. I did a CL one Thu afternoon (not my regular trading hours). It went +4 (SL moved to BE after +4 remember) and SL got hit.

a. I adjusted PT to 5 for an afternoon trade (from 6-8). I also had a 9-pip SL (2 pips above the trigger bar - where it should be unless I opted for a fixed SL of 6).
b. Got lots of heat (-6) for the first 5 minutes. I stayed in there because both Ergodic looked good + I was prepared to be stopped out (-9) for a good lesson. Trade when there's a good signal meeting my entry rules! I hadn't been doing it for days.
c. Its support was 4 pips below though very often CL did not respect it. Well, it did for my trade.
d. I realized too late to strive for 1-3 pips before SL got hit. Did move PT to 2.

Well, I spent Thu night to reason with myself what's going on!! I believe I either stress myself unnecessarily (= mental barrier) OR my head/mind cannot co-ordinate with my fingers (just like my hands do not co-ordinate well with my feet). Being too demanding on my performance is not good and does not help.

I tried to look at my Feb progress from a different angle:

1) I'm happy/content with the system/filter
2) I now focus on 2 instruments (6E and CL)
3) 4 live trades as of this moment (1 last week and 3 this week - 3 baby green and 1 BE) - expect to be better than Jan (only did 8) with 2 more weeks to go
4) Audio alert and visual entry price have made my life easier .. I only need to check Ergodic before placing an order

So, why the frustration? I feel better mentally though I started having unidentified headache and heart pain. It's quite a stressful week because of some home insurance issues. We got an unexpected cancellation notice in the mail. Mainly because we've been burning wood to warm up the house in winter. New government regulations that woodstoves must have a certified label etc etc. Our insurance broker did not contact us for a solution and simply notified us incl our banks about policy cancellation in 2 weeks.

Luckily we just found a new broker who will insure our house. We can now breathe . I almost got a heart attack with the notice in my hands lol! Sorry I am a little side-tracked ...



For this weekend, I am going to update my signal checklist incl Ergodic alignment. Frankly speaking, CL has been offering at least 5 good signals every morning. I need to figure out how can I convince my "fingers" to place at least 1 trade/morning before they all disappear in the coming week.

My backup plan: I will teach UKNOWHO how to place an order using the SuperDom. I just need to give instructions .. haha ..

Have a Relaxing weekend everyone!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1444 (permalink)
Market Wizard
virginia
 
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wgreenie View Post
A crispy weekly update ..

.. We got an unexpected cancellation notice in the mail. Mainly because we've been burning wood to warm up the house in winter. ...

Beth

but how do they know you burn woods in your own home? spy cam?

 
  #1445 (permalink)
 Vendor: www.ezcolortrading.com 
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Ergodic Filter

You can tell from the enclosed that both Ergodic indicators have been effective in confirming the divergence signals (quite good for the regular ones as well). Regarding the latest version with text labels, I have no clue how can I benefit from it. Will stop assessing/using it.

Take care and stay warm.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-cl-03-11-3-range-2_11_2011.jpg  
 
  #1446 (permalink)
Elite Member
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Beth
Instead of teaching UKNOWHO to place your trades, imagine yourself in 2 roles 1. a supervisor who spots the trade and then 2. a clerk who pushes the keys to execute the trade (just use your imagination and play 2 roles). You seem to have the supervisor role down as you can spot the trades. Now develop within you the clerk who can take the orders of the supervisor and execute them.

Just a suggestion
Papa15

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  #1447 (permalink)
 Vendor: www.ezcolortrading.com 
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cory View Post
but how do they know you burn woods in your own home? spy cam?

Nelson has been using woodstoves for the past 10 years .. more environmentally and healthy. He has been signing a waiver (no compensation if the woodstoves cause any accidents blahblahblah) in order to have the required home insurance. The broker has also been sending an appraiser to inspect our house every two years. The last one (here in Sep) got us into trouble as we rejected his taking photos suggestion. He told the broker that we did not allow him into our house which was a lie .. Anyway .. glad that we will have a new home insurance policy just in time before the cancellation date.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1448 (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
Thanks: 1,258 given, 1,196 received


cory View Post
but how do they know you burn woods in your own home? spy cam?

Oh, no more wood burning starting April. The new broker gives us 45 days grace period after which the woodstoves must be physically removed from the house .. sigh .. We will definitely miss them ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1449 (permalink)
Membership Revoked
 
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Hello Beth, I trade the CL very actively and you need to give the cl some room, moving to BE after 4 ticks profit can be hard.


Also it might be good your woodstove is gone : Wood-burning stoves 'can cause cancer and heart disease' - Telegraph

Good luck in your trading

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  #1450 (permalink)
Market Wizard
virginia
 
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MetalTrade View Post
Hello Beth, I trade the CL very actively and you need to give the cl some room, moving to BE after 4 ticks profit can be hard.


Also it might be good your woodstove is gone : Wood-burning stoves 'can cause cancer and heart disease' - Telegraph

Good luck in your trading


Quoting 
Prof Steffen Loft, of the Department of Public Helath at Copenhagen University, said the dangers of wood smoke could be just as serious.
He said: "The particles that come from wood smoke can certainly cause fatal heart or lung disease.

base on my own personal experience it may be true, and probalily is true,

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