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:184,271 / 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

  #361 (permalink)
Elite Member
Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus/ZF
Favorite Futures: ES, 6E, CL
 
jungian's Avatar
 
Posts: 99 since Aug 2009
Thanks: 89 given, 250 received

Great job!

Great job Beth!

Pretty soon you will be looking at one chart....in black and white. No pretty pictures! No squigglies. No flashing neon lights.

You will be flying on Price Action AutoPilot

Congrats on your terrific progress!

Cheers!
Jungian

The following user says Thank You to jungian for this post:
 
  #362 (permalink)
Elite Member
Arizona
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus/Zen-Fire
Favorite Futures: ES
 
Posts: 154 since Jun 2009
Thanks: 708 given, 168 received


wgreenie View Post
Additional Item to be added on my To-be Improved list:

1. How can I manage a 1-contract trade better, ie having a predetermined PT or let it go a little before entering a PT order (certainly SL is a MUST)?)

Hi Beth,

I enjoy reading your journal. I can identify with all the things that you write about. I have either gone through all of the same challenges or am addressing similar things now yet. Your persistence in keeping on going is commendable.

- I too have often thought about the fixed profit target in regards to trading one contract. It does seem attractive to be able to take more profit when there is a bigger move. But I have found that I am more consistently profitable when I take a fixed profit target. I try to select a reasonable target that is hit most of the time. I had been using 9 tics on ES, but since the volatility increased, I have increased to 13 tics. I use an 8 tic stoploss. You also have to gauge this with your trading style. I enter on pullbacks. If I entered on breakouts, it would be quite different.

Have a good day,

Mahlon

The following user says Thank You to mahlonhersh for this post:
 
  #363 (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



jungian View Post
You will be flying on Price Action AutoPilot

Thanks Jungian! I believe many have told U before and I'm telling U again (hope you don't mind). You're a GREAT teacher!

Beth

The following user says Thank You to wgreenie for this post:
 
  #364 (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


mahlonhersh View Post
It does seem attractive to be able to take more profit when there is a bigger move. But I have found that I am more consistently profitable when I take a fixed profit target. I try to select a reasonable target that is hit most of the time. I had been using 9 tics on ES, but since the volatility increased, I have increased to 13 tics. I use an 8 tic stoploss. You also have to gauge this with your trading style. I enter on pullbacks. If I entered on breakouts, it would be quite different.

Thanks Mahlon for your sharing! "8 ticks SL is good" compares to mine between 9 and 12. Certainly your 9-13 ticks PT is by far more attractive than my 4-6 ticks for the first or only contract.

Wonder where and how can I find out more on how to set one's PT based on pullbacks/breakouts?!! Appreciate shedding me some light. Thank you.

Happy & Successful Always.

Beth

The following user says Thank You to wgreenie for this post:
 
  #365 (permalink)
Elite Member
Arizona
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus/Zen-Fire
Favorite Futures: ES
 
Posts: 154 since Jun 2009
Thanks: 708 given, 168 received


wgreenie View Post
Thanks Mahlon for your sharing! "8 ticks SL is good" compares to mine between 9 and 12. Certainly your 9-13 ticks PT is by far more attractive than my 4-6 ticks for the first or only contract.

Wonder where and how can I find out more on how to set one's PT based on pullbacks/breakouts?!! Appreciate shedding me some light. Thank you.

Happy & Successful Always.

Beth

Beth,

All I'm saying is that I enter when price pulls back - dips - and so if the trade works out I get a little more movement than if I would have waited for price to break above the previous high.

You just need to look at your charts and how you trade and make a best guess estimate of how much price moves each time on average. Then select a target amount that you will have a high probability of hitting each time. Once you are profitable and consistent you can add contracts amd increase your profits without trying to squeeze more tics out of each move. I hope this makes sense. This is only one way of doing it. Some people prefer targets like fibs or pivots or enevelope expansion. But I like to keep things simple, so this works for me.

Mahlon

The following user says Thank You to mahlonhersh for this post:
 
  #366 (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


mahlonhersh View Post
You just need to look at your charts and how you trade and make a best guess estimate of how much price moves each time on average. Then select a target amount that you will have a high probability of hitting each time. Once you are profitable and consistent you can add contracts amd increase your profits without trying to squeeze more tics out of each move. I hope this makes sense. This is only one way of doing it. Some people prefer targets like fibs or pivots or enevelope expansion. But I like to keep things simple, so this works for me.

Mahlon

Thanks Mahlon for your prompt response! I like to keep things simple too .. smile ..

Have a Relaxing weekend.

Beth

The following user says Thank You to wgreenie for this post:
 
  #367 (permalink)
Elite Member
Rechovot
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: Index,Currency and Energy futures
 
perryg's Avatar
 
Posts: 1,703 since Jan 2010
Thanks: 504 given, 6,262 received


wgreenie View Post
Thanks Mahlon for your sharing! "8 ticks SL is good" compares to mine between 9 and 12. Certainly your 9-13 ticks PT is by far more attractive than my 4-6 ticks for the first or only contract.

Wonder where and how can I find out more on how to set one's PT based on pullbacks/breakouts?!! Appreciate shedding me some light. Thank you.

Happy & Successful Always.

Beth

When I use 2 contracts, I have found the following to work well:
First profit target = 10
Second profit target = 20
Stop Loss = 12 (can be smaller)
If the move goes to 7 ticks my ATM strategy puts both at BREAK EVEN. i.e. even before it hits the first target but hits 7 ticks profit I move to BE. This gives enough room for a small pullback without closing the trade, and if it does close out no loss.

The following 2 users say Thank You to perryg for this post:
 
  #368 (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


perryg View Post
When I use 2 contracts, I have found the following to work well:
First profit target = 10
Second profit target = 20
Stop Loss = 12 (can be smaller)
If the move goes to 7 ticks my ATM strategy puts both at BREAK EVEN. i.e. even before it hits the first target but hits 7 ticks profit I move to BE. This gives enough room for a small pullback without closing the trade, and if it does close out no loss.

Thanks Perry for sharing your strategy with me/us!

I will program Bracket Trader for some test runs next week .. Hurrah!

Have a Great weekend.

Beth (grateful)

 
  #369 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

Beth,

So here we are, starting a new week. I know you are already working very hard on focusing your efforts. So, I wanted to ask if you've already identified the very specific goals (perhaps name just two) that you intend to focus on this week, and then to grade yourself on daily. If so, would you mind sharing them with us as you go throughout the week?

It is relatively easy to change something in the beginning, but it is far more difficult to sustain that change over time. It is because of this that I keep hammering and hammering on the focus concept.

For instance, if you decide "No more soda for me, only water!". Today it might be quite easy to follow that change. But a week from now, you may have found that you've not done a very good job of sustaining it. If each day you are forced to write down (important) and grade yourself on this goal, it will help you sustain it and focus your energy into being able to do so.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following user says Thank You to Big Mike for this post:
 
  #370 (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



Big Mike View Post
So, I wanted to ask if you've already identified the very specific goals (perhaps name just two) that you intend to focus on this week, and then to grade yourself on daily. If so, would you mind sharing them with us as you go throughout the week?

Hi Mike

A nice surprise that I have a weekend homework to tackle LOL!

For the coming week, I'd like to focus on the following:

1. Identify and distinguish higher probability trades

I realize my former efforts/energy were not spent on this important area. There were moments last week that I could see a few. I would like to explore the unknown .. smile ..

Note: I'd grade myself A+ or B+ IF I succeed in identifying 2 or 1 trade respectively. At least B- for the efforts made IF Nil. I cannot accept a C grade for my psyche! As a softskills trainer, I believe positive encouragement is very important for one's continued success/learning .. haha ..

2. Price Action

I will pay more attention to the price bars and not the indicators on the entry set-up.

Beth

The following user says Thank You to wgreenie 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)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

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 03:32 AM.

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 2017-12-16 in 0.15 seconds with 20 queries on phoenix via your IP 54.196.201.241