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

  #681 (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

Thu Schedule

9:00 am to 11:00 am 6E mostly Inside Bar trade(s)
9:45 am to 11:00 am TF semi-auto trade if strategy triggers a trade
11:15 am to 12:00 noon CL (after release of the crude oil report)
1:00 pm to 2:15 pm CL optional

Note: Learned from Jeff that he does not trade oil until release of the report. I will follow suit LOL!

Beth

 
  #682 (permalink)
Trading Apprentice
Montreal
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: CannonTrading /
Favorite Futures: Crude, TF
 
PiCoTrader's Avatar
 
Posts: 40 since Mar 2010
Thanks: 149 given, 47 received

Bonjour Beth,

I don't know if it has been mentioned somewhere in your thread but break even and target are two different strategy we often tend to use as one when trading only 1 contract.

BE: No matter what I set the BE +X, it always gets hit due to price movement and I miss the move.

Fixed target is what we need but then we again miss the move.


with 1 contract, we want to play both games but it does not work this way so we have to decide BE or Target.

then what! the target is missed by 1 tick and price come speeding toward our entry point where a BE+1 would have saved us

it gets scary to decide as a 1 contract trader.
what I do is use fixed target for a few trades then switch strategy for trend moves.
I do not use BE anymore. I accept ' hardly but I must accept' the loss of my 10 ticks predefined stop on a 8 range chart.

Talking about fear, I wrote somewhere else on the forum :

I still struggle hard with a slow market and stalling price.
It's like my mind turns into Jello and I just can't put my orders in with the slow motion.
I don't have any problem running the same market on replay at 3 to 20 times faster at night and trust my rules.
That's a phase I have to go through.

have a good day Beth

The following user says Thank You to PiCoTrader for this post:
 
  #683 (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

Market Profile


Initial Balance: 1067.75 - 1060.00 (7.75 points)
Value Area as at 11:10 am: 1064.00 - 1063.50 - 1060.50 (3.50 points)
Price opened @1064.50
Today's High and Low as at 11:10 am: 1067.75 and 1057.00
VPOCs: Top 1072.50 (1062.00 was touched) and Bottom VPOC 1039.50
Overnight High and Low: 1066.00 and 1055.00

I believe Mr Market will enjoy more rotation (either Up or Down) to extend the range more!

Want What the Market Wants! Me2!

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-09-10-7_8_2010-30-min-.jpg  
 
  #684 (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

Trading Morning on Thu

I took the first Inside Bar trade for 6E minutes ago. Only minutes?! Felt like a century LOL! I "almost" crashed to the floor .. at least I was very light-headed .. ooooo

I did not have a BE/Trail for this contract. Simply PT/SL @8 and 13 (1 tick above the signal bar). As time passed by and it chopped within a few point range (+ volume dropped substantially - late recognition), I adjusted SL to 1 tick above the most recent yellow Inside Bar (9 ticks from my entry). Finally it's back to my favor and I adjusted my PT and got out with 4 ticks.

My first 6E trade (have been sim-trading some strategies on it since Apr) .. don't like it as it's very slow. Guess I was in at the wrong time.

Internal Dialogue: I was prepared to give some education fee to Mr Market. Why?

1. I missed noticing the substantial low volume. Thought I had enough time for a good trade within the last 15 minutes.

2. I missed the fact that it's more advisable SOH (time-wise) and start tomorrow .. for 6E anyway.

In conclusion, it's an extremely great experience .. Did I enjoy it?

I survived and my forehead is really "red" because I tapped it so hard .. haha .. Oh, it's an A trade (valid signal) and B+ for me. I stayed in the trade enough to make it a profitable one (prepared to pay for it too).

Beth .. a little proud of my trade management

Post-trade Notice: 6E did drop hard upon my closing. My Inside Bar strategy on 6E outperformed me and made 12 PT LOL!

Attached Thumbnails
Beth's Journey to Make Her Millions-6e-real-inside-bar-trade-8-jul.jpg  

Last edited by wgreenie; July 8th, 2010 at 12:36 PM. Reason: 6E did drop after my closing!
 
  #685 (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


PiCoTrader View Post
...

with 1 contract, we want to play both games but it does not work this way so we have to decide BE or Target.

then what! the target is missed by 1 tick and price come speeding toward our entry point where a BE+1 would have saved us

it gets scary to decide as a 1 contract trader.
what I do is use fixed target for a few trades then switch strategy for trend moves.
I do not use BE anymore. I accept ' hardly but I must accept' the loss of my 10 ticks predefined stop on a 8 range chart.

Thanks PiCoTrader for your sharing and tips. Yes, it's quite challenging to start with 1-contract trades IF we want both worlds with all the goodies. Focus on PT and accept SL in a graceful manner sound good.

Happy & Successful Trading!

Beth

 
  #686 (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

My CL Inside Bar trade opened and finished within 15 seconds. I'm done for today, ie 2 out of 2 winners (4 ticks for 6E and 8 ticks for CL).

Note: I used PT/SL 8/20 (no BE) for the afternoon CL trade. Meant to be a quick one.

Emotion: Very normal (surprisingly) and no heart racing or numb numb fingers. Guess practice practice practice do help!

Continue enjoying your day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-cl-inside-bar-trade-8-jul.jpg  
 
  #687 (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

Regret??

I did not touch CL until its release of the weekly report. I continued sim-trading the Inside Bar strategies throughout with its EOD result per enclosed.

Total 4 trades (3 winners and 1 loser) $210 before commission. Certainly the strategies outperform me today. I did 1 trade $80 before commission. Do I regret for not taking the Inside Bar trades before 11:15 am and make more ticks?



Why? It's more important to develop a good trading habit, ie SOH when there're important news. To trade CL, crude oil and natural gas reports (+ other important news) may cause unexpected twists. I'm thrilled that I learned from Jeff (creator of the All You Need and Three Set Up threads + ... ) to stay away when it's crude oil report morning!

My heartfelt thanks to Jeff again!

Beth (She's a good girl today (as always) .. haha ..)

Attached Thumbnails
Beth's Journey to Make Her Millions-cl-inside-bar-trades-8-jul.jpg  
The following user says Thank You to wgreenie for this post:
 
  #688 (permalink)
Just starting out...
Orlando
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: AMP FUTURES/ZEN-FIRE
Favorite Futures: TF, NQ
 
Posts: 12 since May 2010
Thanks: 1 given, 4 received

Hi Beth, I don't know big Mike personally but he is giving you some good advice, knowing and identifying you point of entry is very important, then your stop an live by it don't move it, either your trade will go your way or not that is the area that a trader cannot know the out come, but should know his or her odds of possibility.
Much love
Lalo

The following user says Thank You to Lalo for this post:
 
  #689 (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


Lalo View Post
... either your trade will go your way or not that is the area that a trader cannot know the out come, but should know his or her odds of possibility.

Thanks Lalo for your tips and best wishes!

Your advice reminded me of the 5 Fundamental Truths and I just read them again. Yes, odds of possibility and random of distribution between wins and losses. Thank you.

Happy & Successful Trading!

Beth

 
  #690 (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


Price currently trades at 1065.50 (1.5 points below yesterday's Close @1067.00).

Overnight High and Low as at 8:30 am are 1069.00 and 1064.25 respectively. Quite sideway in my mind.

Top VPOC 1072.50 (1087.25 next on the line)
Bottom VPOC 1059.25 (1039.50 be the next one should it open above 1059.25)

Have a Successful day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-premarket-homework-9-jul-fri.jpg  

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