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Beth's Journey to Make Her Millions


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Beth's Journey to Make Her Millions

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  #311 (permalink)
 wgreenie 
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In addition to the 80% Rule Strategy (for an idea to look for Long OR short OR both when it's a balanced environment), I am using Fade the Extremes to spot high probability trades (based on special reference points), then Perry's set-up for an ideal entry point.

I understand that Perry's set-up is a stand-alone system which gives both long and short signals. One can use it alone for profitable trades. I may have complicated it with the prerequisites.

Beth

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  #312 (permalink)
 wgreenie 
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Guess I had bad experiences when doing counter-trend trades, always strive to trade with the trend LOL!

Here it comes the 80% Rule strategy (shared by Ben).

Beth

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  #313 (permalink)
 perryg 
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wgreenie View Post
In addition to the 80% Rule Strategy (for an idea to look for Long OR short OR both when it's a balanced environment), I am using Fade the Extremes to spot high probability trades (based on special reference points), then Perry's set-up for an ideal entry point.

I understand that Perry's set-up is a stand-alone system which gives both long and short signals. One can use it alone for profitable trades. I may have complicated it with the prerequisites.

Beth

The more indicators and restrictions you add, will not add to your decision making, and you will loose so many good trades. Take a look at you chart, and see how many trades you missed.

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  #314 (permalink)
 wgreenie 
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perryg View Post
My method follows Price Action, therefore you are missing a great number of trades.

Thanks Perry for the additional tips. I missed the fact that your system follows Price Action!

It's in my plan (2nd Phase) that I will do trades other than following Fade the Extremes set-up. A simple start first so that I will not be scattered around everywhere .. haha ..

Beth

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  #315 (permalink)
 wgreenie 
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perryg View Post
The more indicators and restrictions you add, will not add to your decision making, and you will loose so many good trades. Take a look at you chart, and see how many trades you missed.

I agree with you 1,000,000,...% Perry! Some nice Short trades this morning. I chose to follow my trading rules and not taking the ride. It's difficult and my fingers were itchy to enter LOL!

There's always a little voice in my head that there're no counter-trend trades!?!! The market is changing all the time! After having glimpses on how Big Mike used Price Action to identify entry signals on CL, I do have doubt on "counter-trend trades". Well, I will re-visit this in the very near future. Thanks Perry.

Beth

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  #316 (permalink)
 perryg 
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wgreenie View Post
I agree with you 1,000,000,...% Perry! Some nice Short trades this morning. I chose to follow my trading rules and not taking the ride. It's difficult and my fingers were itchy to enter LOL!

There's always a little voice in my head that there're no counter-trend trades!?!! The market is changing all the time! After having glimpses on how Big Mike used Price Action to identify entry signals on CL, I do have doubt on "counter-trend trades". Well, I will re-visit this in the very near future. Thanks Perry.

Beth

Ok Beth,

Try the following for a TREND confirmation. Take the TSSuperTREND indicator, and use the following setups:
ATR
Period= 21
Multiplier = 3.236
MA = HMA
Smooth = 13

Make the indicator = lines and put the SHOW Arrows = true.

This will give you an up and down trend confirmation in order to take the trades in the direction of the trend. I will post a chart

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 perryg 
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If you now look at your charts you will see how you can take counter trades if you have the setup. You must be in the direction of the INNER trend.

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  #318 (permalink)
 wgreenie 
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perryg View Post
If you now look at your charts you will see how you can take counter trades if you have the setup. You must be in the direction of the INNER trend.

Thanks Perry for the SuperTrend suggestion. I've added it to the 4-Range chart. FYI: I've been using the SMA40 purple line for trend direction. For example, no short when it's rising and no long when it's falling.

Beth (Appreciate very much your efforts in solving my countertrend myth. )

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  #319 (permalink)
 wgreenie 
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I did a practice counter-trend trade minutes ago!

It's a winning one LOL! haha .. My heartfelt thanks to Perry for guiding me along!

Beth (grateful)

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 perryg 
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wgreenie View Post
I did a practice counter-trend trade minutes ago!

It's a winning one LOL! haha .. My heartfelt thanks to Perry for guiding me along!

Beth (grateful)

Beth,
Great news. Keep it up and go for it !!!! You now have very simple tools to trade - just look at your chart and trade.

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