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

  #401 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Zen-Fire
Favorite Futures: 6E
 
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ZCars View Post
Beth, all you need is a single point on the ES each day and you've made it! Easier said than done, I know, but that is all you need if you up your position size over time ($500/day with 10 contracts). For this reason I would lock in a one point profit, having your stop move automatically then trail with a couple of ticks. It may mean you get stopped out with a smaller profit more often than not but at least you'll be increasing your account size and confidence over time. When you have more experience you'll be in a better position to ascertain whether the move has legs and let all or part of your position run, but in my opinion this will take time and experience in the market to be able to do and the majority of moves (at least on a 5 min chart) have a point in them. Meanwhile, if you take your 'daily' point and start on one contract you'll build your confidence and you'll be surprised how fast the money accumulates.

All the best,
ZCars


Thanks ZCars for your tips. You can read my mind .. smile ..

I've been experimenting the following strategy with my second computer:

Contract Size: 1
Predetermined PT: 6 ticks
Initial SL: 8 ticks
BE and Profit Protection: 4 ticks and 1 tick trail

Felt good when it adjusted SL to BE. Another 2 ticks from PT, quite often got hit too .. haha .. I'm a little reluctant to have a 4-tick PT because of the reward/risk ratio. Current .75/1 and a smaller SL does not work well.

Consistently making 1 ES point $50/trade is Great. I only need to increase the number of contracts. I've said many times before. ONE winning trade everyday on a consistent basis is all I need LOL!

Beth (Oh, I have a baby laptop with me. It succeeds in connecting with a wireless network provider - freebie .. haha ..)

 
  #402 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: 6E
 
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Trading Afternoon (my first one for a long time!)

Back from the country ride ... zozozo quite exhausted as I was in the car for almost 6 hours .. No chance to take any photos .. sorry Mike! Came across 3 amazing things, ie

1. Wind turbines (literally over 100) non-stop.
2. Baby and new-born calves .. very cute even only had glimpses at a distance.
3. A very cute bird (not sure about its name) with a little over-weight tummy.


Started labelling the 4-Range chart and spotted a Short opportunity (highlighted on the enclosed chart). Placed a Sell Limit order (my first 3-contract trade) and bingo!

Goals Accomplished:

1. Definitely it's an A+ trade (in my mind). It touched my first PT 6 ticks and did not fill me. After a few minutes choppiness, all 3 PTs were hit.

Note: Why I did a 3-contract trade? I was reading the Casino exercise (Trading in the Zone) and Mark suggested a 3- or 4-contract trade. Guess no harm done to try it out.

2. PA Practice - a B "still" though I don't mind having a + considering my diligence with a pair of zozozo eyes LOL!

Emotion: Once all PT/SL orders were placed (ATM strategy) + my subsequent SL adjustment, I was away from the computer for a few minutes. Felt very relaxed that everything would be taken care of. A very nice surprise that the PTs orders were all hit.

Hey, this trade could be my FIRST BIG WINNER ($310 after commission). Certainly don't mind having it on a consistent basis (for real too) .. haha ..

Beth (My eyes keep falling .. need a quick nap ..)

Attached Thumbnails
Beth's Journey to Make Her Millions-trade-log-20-may-2010.jpg   Beth's Journey to Make Her Millions-es-06-10-5_20_2010-4-range-.jpg   Beth's Journey to Make Her Millions-es-06-10-5_20_2010-30-min-.jpg  
The following 3 users say Thank You to wgreenie for this post:
 
  #403 (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

Pre-market Homework for Fri


Overnight low and high for ES was 1061.50 and 1080.50 respectively (19 points). Currently trades aro 1062 and I will use May 6 low @1056 for the bottom reference and 1083 as the Top VPOC.

Yesterday's close @1069.50 and it's a gap down that one may choose to Sell along with the initial sellers when the market opens OR wait for the responsive buyers to come in and buy at Support.

Happy & Successful Trading.

Beth (Oh, it just broke 1060 and may as well head down to 1056 and more!)

Attached Thumbnails
Beth's Journey to Make Her Millions-premarket-homework-21-may-fri.jpg  
 
  #404 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
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Posts: 1,773 since Dec 2009
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An Early Trading Morning

Goals Accomplished:

1. Another A+ trade - I got lucky?!!

2. Price Action at B - Still lots to learn and practise.

Emotion: I did not feel anything after placing a Sell limit order. The trade did everything itself.

N has a doctor appointment and that's why I am glad to spot an early trade opportunity.

Have a Successful day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-trade-log-21-may.jpg   Beth's Journey to Make Her Millions-es-06-10-5_21_2010-4-range-.jpg   Beth's Journey to Make Her Millions-es-06-10-5_21_2010-30-min-.jpg  
The following user says Thank You to wgreenie for this post:
 
  #405 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
Platform: NinjaTrader
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Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,196 received

Weekly Recap (17-21 May)

It's another green week - Hurrah!

Mon $130
Tue $115
Wed $165
Thu $310
Fri $136
Total $856 after commission

Note: 18 green days vs 1 red

What's Next?

1. Will be on vacation (Myrtle Beach, South Carolina) next week - No trading.

2. Will do performance reviews on the trader (me), systems and indicators upon my return.

Beth

 
  #406 (permalink)
 Vendor: www.ezcolortrading.com 
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Platform: NinjaTrader
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Favorite Futures: 6E
 
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Thanks: 1,258 given, 1,196 received

Market Profile

Today's Initial Balance: 1051.25 - 1079.25 (28 points)
Today's Value Area (as at 10:55 am): 1079.25 - 1069.75 - 1061.25 (18 points)
ES opened @1054.00

VPOC 1083 has become its Resistance. I will pay attention when it gets close to today's VA.

Continue enjoying your day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-06-10-5_21_2010-30-min-.jpg  
 
  #407 (permalink)
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2 Afternoon PA Trades using BT Platform

Both trades were 1-contract ones with the following:

- 6 ticks PT
- 8 ticks SL
- BE @4 ticks
- Trail Trigger @4 ticks and Trail 0.25

1. First Long got up to 5 ticks and SL got hit @ 1 tick (enough to pay commission).
2. Second Short was a smooth sail.

The more I used PA to spot high probability trades, I more I like this trading method. Why?

1. I can place Buy or Sel limit order minutes/seconds before the trade.
2. Once hit, everything is automatic (with predetermined PT/SL/BE).

Done with practice. Wishing you all a Relaxing weekend.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-fri-pm-trades.jpg   Beth's Journey to Make Her Millions-es-06-10-5_21_2010-4-range-.jpg  
 
  #408 (permalink)
Site Administrator
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wgreenie View Post
Goals Accomplished:

1. Another A+ trade - I got lucky?!!

2. Price Action at B - Still lots to learn and practise.

Emotion: I did not feel anything after placing a Sell limit order. The trade did everything itself.

N has a doctor appointment and that's why I am glad to spot an early trade opportunity.

Have a Successful day.

Beth

Great job Beth.

I've marked up your chart a bit. Do you mind if I also post it in the price action thread?

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  #409 (permalink)
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Big Mike View Post
Do you mind if I also post it in the price action thread?

My belated thanks for your encouragement Mike! Yes, please feel free to post the chart(s) in this thread in the PA one. Also my BIG BIG Thank You for marking my chart .. smile ..

FYI: Our router has been kicking us out very often this week (over 10 times today). Just placed an online order for a new dual-band one. Hopefully more reliable Internet connection in early Jun.

Night-night and enjoy a Lovely weekend.

Beth

 
  #410 (permalink)
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Pre-market Homework for Mon 24 May


Here it comes ... in case some of you may make use of the reference points.

Have a Successful week ahead.

Beth (Done with packing. We are ready to "fly" .. haha ..)

Attached Thumbnails
Beth's Journey to Make Her Millions-premarket-homework-24-may-mon.jpg  
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