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

  #691 (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: 1070.75 - 1064.25 (6.5 points)
Value Area as at 10:55 am: 1069.50 - 1067.50 - 1065.00 (4.50 points)
Price opened @1066.25
Today's High and Low as at 10:55 am:1071.75 and 1066.25
VPOCs: Top 1072.50 and Bottom VPOC 1059.25
Overnight High and Low: 1069.00 and 1063.25

Too narrow so far and Mr Market is going to work harder!

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-09-10-7_9_2010-30-min-.jpg  
 
  #692 (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

Not a good day .. Our freezer is broken and I have to move things around to accommodate the new one (should be here any minutes now). Did not zozozo well as some giant bites kept me up until 3:00 am.

Well, I should know better and decide to take the day off LOL! Since I chose to trade, it's my responsibility for the enclosed "unfortunately" losing trades. 2 in a row and I stopped trading so that I will still be a baby green for the first week of my trading career!

In real life, maybe I should continue trading .. got stopped out and do a reversal one to regain some lost ground. At this point, I do not have the courage to do that.

Emotion: Sad after closing the position. Yet I appreciate my staying with the SL (1 tick above or below the entry bar) and not adjusting them (for both trades). My internal dialogue for both trades: It's a good opportunity to learn accepting losses. When I placed the Inside Bar trades, I reminded myself to be an automated machine and don't think too much. Certainly post-trade review, I had the option to pass the trades when other indicators conflict with the signals. Having said that, there're former profitable trades that conflicted with most indicators. Bottomline: It's me to decide.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-tf-9-jul.jpg   Beth's Journey to Make Her Millions-cl-9-jul.jpg  
The following user says Thank You to wgreenie for this post:
 
  #693 (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

Weekly Recap 6-9 Jul (1st week)


Did I make a right decision??

The week has been going well except this morning. What happened?

If I have to blame something/someone ..

1. When I was a little stressed moving things around to accommodate the new freezer's delivery, I told N that "I am going to take the day off". N was not too pleased and left for work.

2. Then N called and asked me if I was serious not doing any trades today.

3. Well, took a TF Inside Bar one .. unfortunately not profitable. N called again and I told him about my giving Thu gains to Mr Market. He first thought I made $110 and not losing.

4. Back to focus on CL and 2 "losing" ones in a row.

Yes, a reversal one was available for me to take it. Remember it's not a guaranteed winning trade. It's a valid long signal. No no no I better wait for a new fresh week I told myself. Certainly it's a winning trade that would have regained $120 (from $160). Bear in mind that there're occasions I witnessed long and short trades ended up both losing. We're talking about random probability here .. nothing is 100% sure.

Who should I blame for my losing day? No one is the last and final answer! Live and Learn. Enjoy both good and bad. Learn as I grow.

Well, at least it's green. Better close down the real account else I will be tempted to place a third trade. An inside bar is forming and 15 seconds more to go.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-jul-6-9.jpg  
 
  #694 (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

Weekend Review

Time flies and it's time to review the set ups/indicators. I would say as-is no change on the system/indicators and rather focus on slimming down.

1. ES - I am happy with the MP EOD homework on ES. ES and TF are twins .. so it will still be useful.

2. CL - Modified version based on Jeff's three set ups chart.

3. TF - I have 2 5-minute charts, ie one based on 2. and one mostly with price action indicators and MACDBB. Starting next week, I am going to have only one - just the PA/MACDBB one.

This morning there was a CL Inside Bar trade (happened to be more straight forward) before the one I took. Why not taking it? My TF strategy triggered a trade and I was verifying it with other indicators. Around the same timeline, I was aware that an CL Inside Bar maybe forming within seconds. I chose to focus on the TF one (first-come-first-serve) and passed the CL one. On a second thought (for future), CL is my bread and butter, attention/focus there instead.

4. 6E - I have the Inside Bar strategies running on my laptop though I can't help having a 5-minute chart on my main trading station. I am going to remove it starting next week. Having looked at it this week (more intense), I don't like it. Maybe it's good for auto-trading when its slow motion/choppiness will not bother me ... oooo

Next week my 2 main trading monitors will have more space to play LOL!

How about performance review on Trader me?

I know my issues some of them were listed in my earlier email .. Being too cheap .. reluctant .. scared etc etc. I am going to tackle them one by one. It will take time and lots of reminders/mind re-training. As long as I survive the occasional hiccups (like today), I am going to make it in the long run.

Am I happy with my first week's performance being a Trader?

50/50. I am going to be a little lenient .. first time in my life. I am doing fine .. quite disciplined .. not extremely focussed ..

Hey, tomorrow is a Big Day for UKNOWHO. N is going to take me out for dinner at our favorite restaurant. He is taking Sat and Mon off so that it's going to be a Fun and Relaxing birthday weekend .. We may even go to our favorite Taiwanese supermarket (an hour drive) so that I will buy some Asian frozen entrees .. a morning tandem bike ride to the Swan Lake (1.5 hours if I do not need to take lots of breaks) .. haha ..

In short, I am going to take things easy this weekend .. smile. Oh, I am officially closing down for today ..

Take care and have a Lovely weekend.

Beth

 
  #695 (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

Nice and Simple!

Now my "bread and butter" has the whole monitor to itself. Finally I can see all the dots and lines etc etc ..

Only 2 charts (the twins) on the left compare to 4 this morning.

The 2 Inside Bar strategies outperform me again ... ooooo Hmm, maybe I will run them only on the laptop and not both. There are pros and cons sim-trading them on the main computer. Let me think about it ..


I look forward to another Successful trading week.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-nice-simple.jpg  
 
  #696 (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

Don't get me wrong!!

Nelson just called. I told him I only kept $40 for the week. Guess his first and immediate response??

"Are you okay?"

"You're still staying positive, right honey?"

Soooo, I am going to MAKE IT because I have a very supportive hubby.

Time to feed my belly. No freezer delivery yet .. supposed to be here at 12:00 noon .. over an hour late ..

Beth (Oh, hope it's okay to mumble mumble here ..)

 
  #697 (permalink)
Site Administrator
Manta, Ecuador
 
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wgreenie View Post
Did I make a right decision??

The week has been going well except this morning. What happened?

If I have to blame something/someone ..

1. When I was a little stressed moving things around to accommodate the new freezer's delivery, I told N that "I am going to take the day off". N was not too pleased and left for work.

2. Then N called and asked me if I was serious not doing any trades today.

What's the reasoning behind him not being pleased (1) and then calling (2) questioning the decision? I mean I am sure there was a reason right? Was he trying to remind you of something you said you would do, like trade every day, or etc? Maybe there was a commitment to work every day to further the income, etc?

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:
 
  #698 (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
What's the reasoning behind him not being pleased (1) and then calling (2) questioning the decision? I mean I am sure there was a reason right? Was he trying to remind you of something you said you would do, like trade every day, or etc? Maybe there was a commitment to work every day to further the income, etc?

Mike

Hi Mike

It's my subjective observation from his tone that I could sense his not being pleased (1). Why calling (2) questioning my "decision"? This is easier to answer,

1. I've been withdrawing funds from my savings account (which I saved before relocation/marriage) for the regular grocery/US shopping bills for 1.5+ years now. It is going to dry up IF I continue generating nothing. My practical answer!

2. My success to be a Profitable Trader on a consistent basis = our ticket to financial freedom. My continual pursuit will give him hope to hang on - a logical guess from my end and it's 99.999% true! It's not a reminder for me and rather giving himself "hope" that it may or will happen.

Yes, I am committed to make it happen. Just regular financial issues do worry me .. I "am" always zero-debt free .. sigh ..

Beth

The following user says Thank You to wgreenie for this post:
 
  #699 (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: 29,351 given, 83,221 received

Understood. Well he seems like he is extremely supportive, so I think he was probably just trying to help. I think it's great that you involve him in your trading. A lot of people could learn from this approach. I'm one of those people who believe marriage is about sharing everything. Then there are some people who have separate checking accounts. Of course, my only marriage ended in divorce so take my advice with a grain of salt

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:
 
  #700 (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
Understood. Well he seems like he is extremely supportive, so I think he was probably just trying to help. I think it's great that you involve him in your trading. A lot of people could learn from this approach. I'm one of those people who believe marriage is about sharing everything. Then there are some people who have separate checking accounts. Of course, my only marriage ended in divorce so take my advice with a grain of salt

Mike

Oh, we do not have a joint bank account yet! Mirus/Dorman did not approve my individual account application (as I am a stay-at-home wife) even I have proofs of enough financial income to do so. So it's a joint trading account in addition to my individual IB one which I have for 5+ years. Plan to change my last name too .. lots of government paperworks to do and will take up to 3-6 months. Will tackle this once I get settled in my real live trading career.

Yes, Nelson believes in sharing everything. I believe in that too. I have every intention to help paying off his financial obligations .. one at one time .. then his Aston Martin car .. .. oh, also take him to meet with my siblings in Hong Kong (I'm thinking 2011 which is only months away) .. ..

I just "hope" that his faith/confidence in me will eventually lead to our life goal "Be Happy & Healthy"! I told him a thousand times that being "talented" does not help (IF I'm really talented). It's more discipline and focus (which a proud person may lack of) that will make it stay.

Believe me, I am and have been doing my very best when I realized finding a decent job (incl a non-decent one) is out of the question for me. I cannot drive (100% immobile) period!!

Beth (Back to reality, I am going to stick around and MAKE IT HAPPEN! I made things happened before .. I even had an unexpected standing ovation from 800+ delegates all over the world. Those were the good "old" days .. )


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