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

  #1621 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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After some weeks of Fibs learning, I started seeing how some critical levels (say 50% and 61.8%) could enhance a trade entry. Have too many things in my petite head and could not sleep too well this week. Caught the enclosed Short (61.80% retracement to the dot) and it's a 2:1 reward/risk winner (PT/SL @10/5). I have removed the moving averages and instead use a MP chart to identify a "b" or "p" pattern (buying/selling pressure). I further trimmed down my indicators, ie only 1 fast Ergodic overlay on Price and no slow/fast below.

Continue taking things easy and plan to resume live trading next week (regular morning hours only).

Happy & Successful Ticks!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1622 (permalink)
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Hi Wgreenie!!

Kudos to you that you don't give up, you're not a quitter, you're a fighter.

But I'm almost scared to click on your thread.. for what ? To see you're experimenting AGAIN with a new tool ? You gotta be kidding me (and yourself) no ??? You're doing Fibonacci levels now ? What's next ????

Don't you understand you will NEVER find a magical tool ? The tool is in yourself, not in an indicator or a set of indicators.

Please, please, take 1 system, and stay with it !!!

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  #1623 (permalink)
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MetalTrade View Post
Hi Wgreenie!!

Kudos to you that you don't give up, you're not a quitter, you're a fighter.

But I'm almost scared to click on your thread.. for what ? To see you're experimenting AGAIN with a new tool ? You gotta be kidding me (and yourself) no ??? You're doing Fibonacci levels now ? What's next ????

Don't you understand you will NEVER find a magical tool ? The tool is in yourself, not in an indicator or a set of indicators.

Please, please, take 1 system, and stay with it !!!

Hi MetalTrade

No worries. I am modifying the current system .. actually simplifying it. For example,

- removal of moving averages
- only 1 Ergodic and not 3

Then occasional Fibs drawing to identify retracement and GomiVolume for a "b" or "p".

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1624 (permalink)
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wgreenie, call it how you want, you need to work in your mind, not on your trading system

i hope you understand, read mark douglas: trading in the zone, once a month :-)

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If your goal is to trade like a professional and be a consistent winner, then you must start from the premise that the solutions are in your mind and not in the market.

-- Mark Douglas

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  #1626 (permalink)
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MetalTrade View Post
Hi Wgreenie!!

Kudos to you that you don't give up, you're not a quitter, you're a fighter.

But I'm almost scared to click on your thread.. for what ? To see you're experimenting AGAIN with a new tool ? You gotta be kidding me (and yourself) no ??? You're doing Fibonacci levels now ? What's next ????

Don't you understand you will NEVER find a magical tool ? The tool is in yourself, not in an indicator or a set of indicators.

Please, please, take 1 system, and stay with it !!!

I have been reading your thread for it has to be close to a year. When I was reading last summer I felt you were already 'there'. It seems this late fall you have taken a few steps backward (much like I have) and most likely a great part of that is spending the proper time as well as the mental aspect.

I know you can do this, just a matter of time to get back to profitability with a very familiar system.

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  #1627 (permalink)
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Hi Beth , Something to consider BEFORE you leap.......
you are most likely brilliant and successfull in many areas of life ...unfortunately... this very "brilliance" and success that you have achieved in your life is maybe holding you down as a trader ..
After 1 year , you are still stumbling around figuring out setups and indicators , and still trying to decide how you will fit in with your own nervous system....
just in the last few weeks here you were excited all about a different set of indicators and setups .....now it is something else.
this search for perfection often is a form of "blocking".....your best approach now is to try to unlock what holds you back...another market another technique another indicator is not your solution
..what you seek is not out there but inside already...you have a great deal of knowledge and experience which is plenty , less is more simplify and stop looking for perfection in trading , it does not exist believe me .
I wish you much success in your journey .

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
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  #1628 (permalink)
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soumi71 View Post
Hi Beth , Something to consider BEFORE you leap.......
you are most likely brilliant and successfull in many areas of life ...unfortunately... this very "brilliance" and success that you have achieved in your life is maybe holding you down as a trader ..
After 1 year , you are still stumbling around figuring out setups and indicators , and still trying to decide how you will fit in with your own nervous system....
just in the last few weeks here you were excited all about a different set of indicators and setups .....now it is something else.
this search for perfection often is a form of "blocking".....your best approach now is to try to unlock what holds you back...another market another technique another indicator is not your solution
..what you seek is not out there but inside already...you have a great deal of knowledge and experience which is plenty , less is more simplify and stop looking for perfection in trading , it does not exist believe me .
I wish you much success in your journey .

I am a frequent reader, and a rare poster in this thread. Most of the people posting have way more knowledge than I. But I recognize what you are doing in terms of trying to eliminate the losers. Like it or not, that is what the Holy Grail search is and like it or not, the holy grail search is what you appear to be on currently.

My suggestion is this: Take all the indicators off the chart. No lines, no squigglys, no nothing. Choose the chart you like the best....a range chart or time chart, does not matter and trade naked on sim for a week. Look for patterns, support and resistance and how you might best trade those areas and where the stop should be. Then step back and look at your chart from across the room. Can you see the patterns? If you can, trade that. This little trick I got from a master trader that runs a large hedge fund. He says "If you can see the pattern from across the room, its trade-able". Then put back one or two indicators on the chart that work with price action. See how price and the indicator react around those important S/R areas and then make a trading plan based on those items.

Horizontal lines work best. DT and DBs. Lines drawn at congestion areas, etc. Diagonal lines are next, these are trend lines, and then curvy lines (read moving averages) are the least efficient. I think you will find you are trading much less in the congestion areas, are in closer to the beginning of a move and have bigger targets to work with with less heat.

All this of course is just my opinion. You may in fact be totally locked in and comfortable with how your charts look, the set ups they produce and how you trade them, but from an outsiders point of view, you are still locked in the life or death struggle with perfection. You should pick up a book called "Golf is not a game of perfection". If you are not a golfer, you'll learn something about the gentlemen's sport and more importantly, you will learn that a game that demands perfection, cannot be won by striving for perfection. In golf, consistently being good is better than perfection once in a while. And that requires a state of mind that allows for imperfection. The guy that wrote the book is a sports psychologist that works with top athletes all over the world. He knows a thing or two about performance based activities like trading and how the mind is the key. If you want to win at this game and I think you do, you need to stop with the indicators and methods and get to work on your mental game. Every single method you have tried since I have been reading the thread works and some work really well. Its the mental side of the game that keeps you from being a winner you are so capable of being.

Good luck and I promise I won't post again for a while.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1629 (permalink)
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Thanks Soumi71 and Aztrader9 for your tips/guidance! Yes, I notice Aztrader seldom posts. If he does, always great stuffs and/or he cannot stand my turtle speed .. smile ..

Yes Yes Yes our mental state is the most important .. I am still working on my unidentified allergy issues (occasionally wear me down) while scrutinizing my set-up/indicators. Believe it or not, I further trimmed my indicators down over the weekend. No Ergodic and I may let the osc indicator go as I have divergence dash lines on the Price panel. Soooo, only PriceActionSwing stays .. plotting HH/HL/LL/LH/DT/DB labels .. almost naked.

I came across many systems and indicators .. even though I am not using 99% of them .. sometimes they gave me ideas. I really only need 1-2-3. Price Action captures Bid/Ask real-time. With an effective trigger .. in-and-out within seconds lol! I second suggestion to go "naked" is the way to trade.

Don't want to count on heavy-duty drugs (always think they come with side effects). Am cushioning more light-hearted activities these days/nights. I continue having my meals not in front of screens. I completed my first 60-piece puzzle over the weekend .. haha .. Well, simplify the way I trade PLUS liven up my head/heart are the immediate goals. Nothing more important than Health at this point.

Have a great week everyone.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
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  #1630 (permalink)
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Hope it helps.

Please also understand that some times you need heavy medication. If it's needed, it's needed.


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