Beth's Journey to Make Her Millions - Trading Journals | futures io social day trading
futures io futures trading


Beth's Journey to Make Her Millions
Updated: Views / Replies:184,052 / 1,776
Created: by wgreenie Attachments:877

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 877  
 
Thread Tools Search this Thread
 

Beth's Journey to Make Her Millions

  #1581 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


wgreenie View Post
To me, it's more uncertain if it will break the Support or Resistance right below or above. .

Beth

I know nothing about divergence trading....and dont care to learn...but I can tell you about the EMA signals. If you do it right, almost every trade will be borderline. In other words, price is right on the edge between S and R. I dont think you or I will every be able to determine which it will do in advance. Instead, we must rely on the statistical edge and just go with it and place the stop in the correct place.

I spent a year trying to figure out how to erase the uncertainty of this very problem. Guess what, it will never be erased. So I now rely on a higher time frame to filter the trade, trade only the direction of the higher time frame trend and then use these EMA's (I use SMAs) to give me the trade signal when the chop is over.......using the higher time frame generally will prompt you to take the more likely trade.....and ignoring the tempting one but with little chance of success.

Anyway, good luck.....I know you work harder than probably anyone else on the forum......just work hard at the things that matter....not like I did, slaved away trying to eliminate losers.....it will never happen.....now I work hard at identifying the higher time frame trend, and finding entries that support that.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #1582 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,215 since Jun 2009
Thanks: 628 given, 6,313 received
Forum Reputation: Legendary


wgreenie View Post
Guess how I spent the past two hours?

Well, I came across some recommendation on the following:

How To Think Like a Professional Trader by Mark Douglas (4 DVDs with 2 manuals)

I did some research and just placed an order. Got it for $87 and not the advertised price $400. Now my petite head and heart are waiting for their nutrients lol!

Beth

can't resist a bargain can you? when you wait to see how they think here is what they do
Forums - five years later (the previous 5), still struggling!

The following user says Thank You to cory for this post:
 
  #1583 (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



aztrader9 View Post
I know nothing about divergence trading....and dont care to learn...but I can tell you about the EMA signals. If you do it right, almost every trade will be borderline. In other words, price is right on the edge between S and R. I dont think you or I will every be able to determine which it will do in advance. Instead, we must rely on the statistical edge and just go with it and place the stop in the correct place.

I spent a year trying to figure out how to erase the uncertainty of this very problem. Guess what, it will never be erased. So I now rely on a higher time frame to filter the trade, trade only the direction of the higher time frame trend and then use these EMA's (I use SMAs) to give me the trade signal when the chop is over.......using the higher time frame generally will prompt you to take the more likely trade.....and ignoring the tempting one but with little chance of success.

Anyway, good luck.....I know you work harder than probably anyone else on the forum......just work hard at the things that matter....not like I did, slaved away trying to eliminate losers.....it will never happen.....now I work hard at identifying the higher time frame trend, and finding entries that support that.....

Thanks Aztrader9 for your kind reminder. I spent possibly a year trying to eliminate or minimize losers. Yes, it's a vague attempt. Signals between MAs are not on my signal list yet and I don't like to be trapped lol! Now that I'm exposed to Fibs and have been experimenting with 50%-61.8% retracement levels, may incorporate the same in my system.

Just downloaded 3 e-Manuals on fibs. Will be a smart bookworm this week .. smile ..

Happy & Successful Ticks!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1584 (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
can't resist a bargain can you? when you wait to see how they think here is what they do
Forums - five years later (the previous 5), still struggling!

Hi Cory

Not that I can't resist a bargain. I spent hours trying to locate freebies serving the same purpose ooooo. I have been very selective in spending $ on brain's food and it's my first purchase in two years .. smile ..

Yes, I still continue reading informative threads and try out different indicators/systems during non-trading hours and over the weekend. I came across an interesting Easy Forex breakout system (a few indicators all color-coded) and tried to create a similar one myself. Played with it for a little while and determine to focus on the existing system instead. I am not interested in a completely new set-up and rather prefer to fine-tune the existing one. I've changed!!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1585 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
monpere's Avatar
 
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,276 received


wgreenie View Post
Thanks Aztrader9 for your kind reminder. I spent possibly a year trying to eliminate or minimize losers. Yes, it's a vague attempt. Signals between MAs are not on my signal list yet and I don't like to be trapped lol! Now that I'm exposed to Fibs and have been experimenting with 50%-61.8% retracement levels, may incorporate the same in my system.

Just downloaded 3 e-Manuals on fibs. Will be a smart bookworm this week .. smile ..

Happy & Successful Ticks!

Beth

Beth, you do realize the more filters you add, the fewer signals you will get, and from one of your earlier posts, you said you had no signals last week. I personally saw and traded dozens upon dozens of divergence signals. So, I think your current filters are keeping you out of many of those signals. Adding more filters will reduce the number even more. A whole week with no signals doesn't seem to corrolate with the statistics you calculated a few weeks ago. Are you trading a different setup then that used in the calculation of the statistics?

Have you looked at Felton Trading? You can probably get a good bit out of Roger's 1 week free trial. I also understand that if you say you are from BigMikeTrading forum, Roger will give you an unlimited free trial to the room. Correct me if I'm wrong, if someone knows more details about that. Roger has very good rules at determining the quality of divergence signals, like number of bars between the peaks, depth of the valley between the peaks, percent retracement of the 2nd peak, etc. These allow you to filter out many signals just by the way they look.

You may also want to think about adding a "with the trend" setup to your trading plan, because the majority of divergences tend to be against the trend. I trade 2 setups, a divergence setup, and a with the trend setup. Last week, I spent a couple of days trading just the trending setup, and it turned out that the win ratio is significantly better then my divergence setup. Although, that may also have been partially due to the couple of big down days last week. Roger also has a 'with the trend' setup he calls the 'lump trade'. I think every divergence trader should have at least 1 with the trend setup in their bag of tricks. I think that free trial might be a great resource you can use to increase your expertise with the current divergence signals you are trading now.

The following user says Thank You to monpere for this post:
 
  #1586 (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


monpere View Post
Beth, you do realize the more filters you add, the fewer signals you will get, and from one of your earlier posts, you said you had no signals last week. I personally saw and traded dozens upon dozens of divergence signals. So, I think your current filters are keeping you out of many of those signals. Adding more filters will reduce the number even more. A whole week with no signals doesn't seem to corrolate with the statistics you calculated a few weeks ago. Are you trading a different setup then that used in the calculation of the statistics?

Have you looked at Felton Trading? You can probably get a good bit out of Roger's 1 week free trial. I also understand that if you say you are from BigMikeTrading forum, Roger will give you an unlimited free trial to the room. Correct me if I'm wrong, if someone knows more details about that. Roger has very good rules at determining the quality of divergence signals, like number of bars between the peaks, depth of the valley between the peaks, percent retracement of the 2nd peak, etc. These allow you to filter out many signals just by the way they look.

You may also want to think about adding a "with the trend" setup to your trading plan, because the majority of divergences tend to be against the trend. I trade 2 setups, a divergence setup, and a with the trend setup. Last week, I spent a couple of days trading just the trending setup, and it turned out that the win ratio is significantly better then my divergence setup. Although, that may also have been partially due to the couple of big down days last week. Roger also has a 'with the trend' setup he calls the 'lump trade'. I think every divergence trader should have at least 1 with the trend setup in their bag of tricks. I think that free trial might be a great resource you can use to increase your expertise with the current divergence signals you are trading now.

Hi Monpere

My trillion thanks for your suggestion. I will have Felton Trading on my exploration list.

I am using the same set-up that I used to tabulate my stats. Just that there're no divergence signals that met my rules .. sigh .. Since I turned off the counter-trend option, I am not sure if there might be some counter-trend divergence ones - likely! Based on my stats, 23% of the time no signal and 40% 1 signal.

I understand that the more filters I am using, the fewer signals I will get. I am considering Fibs (esp 50-61.8% retracement) and/or Ergodic to validate a regular signal (non-divergence and still aligns with the trend). Will see how this week evolves before my next move.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1587 (permalink)
Elite Member
San Diego, California
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: IB, OEC, Optimus, DDT
Favorite Futures: ES, ZN
 
Posts: 221 since Jun 2010
Thanks: 513 given, 157 received


monpere View Post
Beth, you do realize the more filters you add, the fewer signals you will get, and from one of your earlier posts, you said you had no signals last week. I personally saw and traded dozens upon dozens of divergence signals. So, I think your current filters are keeping you out of many of those signals. Adding more filters will reduce the number even more. A whole week with no signals doesn't seem to corrolate with the statistics you calculated a few weeks ago. Are you trading a different setup then that used in the calculation of the statistics?

Have you looked at Felton Trading? You can probably get a good bit out of Roger's 1 week free trial. I also understand that if you say you are from BigMikeTrading forum, Roger will give you an unlimited free trial to the room. Correct me if I'm wrong, if someone knows more details about that. Roger has very good rules at determining the quality of divergence signals, like number of bars between the peaks, depth of the valley between the peaks, percent retracement of the 2nd peak, etc. These allow you to filter out many signals just by the way they look.

You may also want to think about adding a "with the trend" setup to your trading plan, because the majority of divergences tend to be against the trend. I trade 2 setups, a divergence setup, and a with the trend setup. Last week, I spent a couple of days trading just the trending setup, and it turned out that the win ratio is significantly better then my divergence setup. Although, that may also have been partially due to the couple of big down days last week. Roger also has a 'with the trend' setup he calls the 'lump trade'. I think every divergence trader should have at least 1 with the trend setup in their bag of tricks. I think that free trial might be a great resource you can use to increase your expertise with the current divergence signals you are trading now.

Not sure what you mean by "with the trend"? I thought Beth's setup is with the trend. I don't think Beth's divergence setup is fading the extremes.

 
  #1588 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
monpere's Avatar
 
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,276 received


omaha786 View Post
Not sure what you mean by "with the trend"? I thought Beth's setup is with the trend. I don't think Beth's divergence setup is fading the extremes.

Ohhh, if that is the case, then that may partially explain why she gets so few signals. The majority of divergences tend to occur against the trend.

 
  #1589 (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

Yes, I only consider divergence signals align with the trend!! If it continues to give me Nil signal, I will consider taking the regular ones with Ergodic/Fibs as filters .. still with the trend .. smile ..

Yes, I am not fading the extremes and rather trade on predetermined retracement/pullback levels.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1590 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received



wgreenie View Post
Thanks Aztrader9 for your kind reminder. I spent possibly a year trying to eliminate or minimize losers. Yes, it's a vague attempt. Signals between MAs are not on my signal list yet and I don't like to be trapped lol! Now that I'm exposed to Fibs and have been experimenting with 50%-61.8% retracement levels, may incorporate the same in my system.

Just downloaded 3 e-Manuals on fibs. Will be a smart bookworm this week .. smile ..

Happy & Successful Ticks!

Beth

I love fibs...but its a deep hole....there is a fundamental truth one needs to understand about them....every price and every tick is a fib level off some other price level.....this sparks a question, which one to use......I have wrestled with this question for two years with no real answer.....but I have settled on an approximation and a filter....see the attachment. You can trade this way without the fibs or the moving average, they just help me visualize price action.....and excellent thread to read about trading the pull backs is @MWinfrey's 5min Odyssey. I personally have learned a lot from just looking at his charts and entry points....I went back and looked at them on my chart and almost all of them were a 50% or 62% pull back.....and he has been very successful with it.....

The chart I attached is a down and dirty fib on a 5 min chart. Today its a nearly perfect 62% pull back....they are not always like this....hence my notes on the chart...

Hope this helps in your thinking......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Thumbnails
Beth's Journey to Make Her Millions-2011-02-28_2015.png  
The following 3 users say Thank You to PandaWarrior for this post:

Closed Thread



futures io > > > Beth's Journey to Make Her Millions

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
AR01 Our Journey AR01 Elite Trading Journals 226 January 31st, 2012 02:52 AM
When milliseconds make millions Big Mike News and Current Events 2 July 31st, 2011 07:28 AM
US Taxpayers Paying Millions For Fannie, Freddie Lawsuits Quick Summary News and Current Events 0 January 24th, 2011 12:20 PM
Verizon to Refund Millions of Customers for False Charges Quick Summary News and Current Events 0 October 3rd, 2010 07:50 PM
Welcome to My Journey! trader1512 Trading Journals 5 April 14th, 2010 09:56 AM


All times are GMT -4. The time now is 04:00 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.17 seconds with 20 queries on phoenix via your IP 54.163.210.170