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

  #1681 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
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I just download GomMP from here https://futures.io/free_downloads/vip_elite_circle/451-download.html?view

there is nothing special in template since I didnt touch any setting I just added Gom volume profile then Gom MP, the more data it collects the better it looks. The daily data come from kinetick connection you can have both real time and kinetic connections on at the same time.

The following user says Thank You to cory for this post:
 
  #1682 (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
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Report for Early Morning Probing Trades

Got up around 3:00 am to address my headache issue. Thought I saw something very promising on 6E. I probed three times and all got stopped out. Did the first two on the training platform too .. sigh .. Then when I had a clearer head (better be late than never .. at least I am going to document this on my log book), I realized I had the HVN/LVN concept reversed!!

LVN = area of imbalance = rejection will be a good opportunity to short or long
HVN = equilibrium = area for potential target

With the drug impact, I was probing around some HVN areas and NOT LVN lol! Since I was managing two platforms for the first two trades, I accidentally cancelled a SL order when I tried to tighten it up. Ended up exiting 2 pips worse + a pair of orders was entered by the system after manual exit .. not sure why. Worse still, I did not get a chance to adjust my NT stops and the 2-contract trades' full stop got hit. When I continued probing (third attempt), good that I experimented only with NT .. less damage to my training account

Lessons Learned:

1. SOH when I am under the weather and/or with the drug effect
2. Stay with one platform and not multi-tasking
3. I missed the warning for an early exit. All three trades moved 2-3 pips in my favor, then stalled and reversed. If a trade is working, it should work almost instantly. If not, it's more advisable to get out and wait for another high probability one. I failed to do that .. three times in a row. Well, I had the excuse that I was drugged .. still not forgivable. This needs to be INGRAINED in my petite head.

That's my early morning report ... .... Will have a separate one for my 2 CL trades during my RTH. Please stay tuned.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1683 (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


You can tell from the enclosed that I was late for the first short .. did go for 2-3 pips .. then 2 green candles in-between a red one. I failed to exit early and my fullstop got hit (1 pip slippage too) ...

I see the importance to fix my "reluctance to exit and stay unnecessarily longer in a losing trade"!!

The second long was a good one .. went to 10 (my PT was 15) .. then got really close to my adjusted SL (right at entry). I chose to exit +4 when it resumed going up without me lol

Note: I only placed trades on the training platform.

This may be easily solved when I am doing 2-contract trade, ie having a smaller first PT and let the second one run. Another quick fix is be content with +4 as long as it's green, right? Smile ..

I don't feel 100% alert .. maybe I should close down for the day. Both 6E and CL have been very slow in momentum. Will see.

Have a Great day.

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-06-11-5-rangenogap-20_4_2011.jpg  

Last edited by wgreenie; April 20th, 2011 at 11:54 AM.
 
  #1684 (permalink)
Live Your Bliss
Canary Islands, Spain
 
Futures Experience: Advanced
Platform: OA
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wgreenie View Post
You can tell from the enclosed that I was late to the first short .. did go for 2-3 pips .. then 2 green candles in-between a red one. I failed to exit early and my fullstop got hit (1 pip slippage too) ...

I see the importance to fix my "reluctance to exit and stay unnecessarily longer in a losing trade"!!

The second long was a good one .. went to 10 (my PT was 15) .. then got really close to my adjusted SL (right at entry). I chose to exit +4 when it resumed going up without me lol

Note: I only placed trades on the training platform.

This may be easily solved when I am doing 2-contract trade, ie having a smaller first PT and let the second one run. Another quick fix is be content with +4 as long as it's green, right? Smile ..

I don't feel 100% alert .. maybe I should close down for the day. Both 6E and CL have been very slow in momentum. Will see.

Have a Great day.

Beth

That short is right at the trendline (drawn from LL). Also looks like 38% fib. IMHO, this is a poor entry. (Not criticizing you, just commenting on technical merits). Much better short might have been around 109.62... after a retest of the high, failure, and a flag break.

The long entry seems good... not sure why you did not take profits at the LH point around 109.72. The market often has reaction at these points. Nothing wrong with grabbing some ticks and see how things develop. Artificial profit points work a lot worse than reading price action for these things.

Anyway, I am enjoying your posts. Keep it going.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
 
  #1685 (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

Now you have a glimpse of my so-called HVN areas where I probed and probed ..

I did a 6E short this morning (regular hours). Did not like the price movement/momentum. Exited BE and -1. It's on NT platform only. I don't like my 6E performance this week. Well, any regret for not staying longer? It's a 20-30 pips runner lol.

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-6e-06-11-5-rangenogap-4_20_2011.jpg   Beth's Journey to Make Her Millions-2011-04-20_1037_hvnlvn.png  
 
  #1686 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Thanks: 1,258 given, 1,196 received


Anagami View Post
That short is right at the trendline (drawn from LL). Also looks like 38% fib. IMHO, this is a poor entry. (Not criticizing you, just commenting on technical merits). Much better short might have been around 109.62... after a retest of the high, failure, and a flag break.

The long entry seems good... not sure why you did not take profits at the LH point around 109.72. The market often has reaction at these points. Nothing wrong with grabbing some ticks and see how things develop. Artificial profit points work a lot worse than reading price action for these things.

Anyway, I am enjoying your posts. Keep it going.

Thanks Anagami for your comments. Yes the first short was a poor entry (human operation error). I am doing 1-contract trades on the training program (while NT can experiment with 2-contract ones). Quite reluctant to make 6-8 pips for the only contract. I have an initial PT/SL @15/10 for CL so 10 will be the smallest PT to stay with at least 1:1 reward/risk ratio. Certainly when things don't look promising anymore, I will exit early. This is the area needs to be improved.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #1687 (permalink)
Live Your Bliss
Canary Islands, Spain
 
Futures Experience: Advanced
Platform: OA
Favorite Futures: What Moves
 
Anagami's Avatar
 
Posts: 701 since Dec 2010
Thanks: 474 given, 1,398 received


wgreenie View Post
Now you have a glimpse of my so-called HVN areas where I probed and probed ..

I did a 6E short this morning (regular hours). Did not like the price movement/momentum. Exited BE and -1. It's on NT platform only. I don't like my 6E performance this week. Well, any regret for not staying longer? It's a 20-30 pips runner lol.

Beth

Notice the move got strong when price got under the HL @ 1.4506. This was the puke point after the failure. Longs dumped and shorts joined. Where losers bail, moves accelerate.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
 
  #1688 (permalink)
Live Your Bliss
Canary Islands, Spain
 
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Platform: OA
Favorite Futures: What Moves
 
Anagami's Avatar
 
Posts: 701 since Dec 2010
Thanks: 474 given, 1,398 received


wgreenie View Post
Thanks Anagami for your comments. Yes the first short was a poor entry (human operation error). I am doing 1-contract trades on the training program (while NT can experiment with 2-contract ones). Quite reluctant to make 6-8 pips for the only contract. I have an initial PT/SL @15/10 for CL so 10 will be the smallest PT to stay with at least 1:1 reward/risk ratio. Certainly when things don't look promising anymore, I will exit early. This is the area needs to be improved.

Beth

Last post of mine on your thread today, Beth, I promise.

Trading only 1 contract is psychologically tough... Might be better off trading 2 on something smaller (say YM. Not nearly as sexy as CL, but might be better for you).

As for TP... it's nice to have large targets, but one has to take what the market gives and what price action indicates.

My trades are often less than 1 to 1 RR (yes, some people will have a fit), but my success rate is 75 to 80%. As this makes me money AND fits well with my psychology, I am quite happy with it. Some of the best traders in the world don't have RR bigger than 1 to 1, in fact sometimes lower (a champion trader like Marty Schwartz comes to mind).

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #1689 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
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I got lucky on my 3rd CL trade .. haha ..

Meant to place a Sell Stop 1 pip below the most recent HL. Got in immediately instead. Since everything was red .. I stayed in. Am done for the day. CL net is green while 6E is red. Well, still in good shape (my theory) as I have a better understanding on where to improve.

Done for the day.

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-06-11-5-rangenogap-20_4_2011-3rd-trade.jpg  
 
  #1690 (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



Anagami View Post
Notice the move got strong when price got under the HL @ 1.4506. This was the puke point after the failure. Longs dumped and shorts joined. Where losers bail, moves accelerate.

Thanks Anagami for your comments. Some trading friends taught me this trick (false breakout and enter when earlier buyers/sellers close their position) and it's in my toolbox. Almost forgot about it. 1.4506 right there and I missed it lol .

Now I have to find some natural supplements that will give me an extra pair of eyes and brains so that I will be more attentive .. haha ..

Beth

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

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