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

  #731 (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 Tue

Price currently trades at 1086.25 (10 points above yesterday's Close @1076.25)!!

Overnight High and Low as at 8:55 am are 1086.75 and 1073.00 respectively. It may continue climbing up until the market opens.

Top VPOC 1087.50 (1108.75 next on the line)
Bottom VPOC 1073.00

Have a Successful day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-premarket-homework-13-jul-tue.jpg  
 
  #732 (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

Last night's posts on trade/money management got to my dreams LOL!

When I read my VI note with 5 Fundamental Truths, 7 Principles/Beliefs of Consistency and 7 Steps to Success this morning, the following caught my attention:

I completely accept risk or I am willing to let go of the trade (No 2 of 7 Principles/Beliefs of Consistency)

If I am not placing SL according to the suggested rule, I am technically not accepting the predetermined risk completely! I'm a little torn here.

This morning upon completion of an Inside Bar trade (to be covered in a later post), I have some lapse time. I looked at my former ES chart and took the enclosed trade (based on rejection). The risk/reward ratio (8/6) now looks very acceptable .. haha .. Hmm, maybe I'm changing.

Beth (Will be back ..)

Attached Thumbnails
Beth's Journey to Make Her Millions-es-sim-trade-13-jul.jpg  
 
  #733 (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

Early Report .. smile ..


Please pardon my ES detour ..

I did 2 Inside Bar trades this morning (details per enclosed). What I did differently?

1. I placed the Buy Stop Order upon completion of an Inside Bar (I did not place the corresponding Sell Stop) and not waiting for price to get close to the suggested entry.

2. SL was according to the suggestion as well and not 16 or 20 or ...

3. PT at 8 (not 12) since I'm doing a 1-contract trade. Meant to be a quick scalp. Until I am doing multiple-contract trades, I will have more options available then.

Am I comfy with these changes?

1. I have to admit not 100% yet. Having said that, I am learning to accept risk completely else SOH bottomline!

2. How's my emotion now that risk/reward ratio seems greater? Almost normal and a few moments of light-headedness for the first trade.

Soooo, am I going to follow these revised money/trade management strategies in the coming days? Let me think and revert. Yeah, I shouldn't be thinking too much ..

I am officially done for today. 2 good trades and I'm happy with 16 ticks .. Hurrah!

Note: My strategy finally triggers a trade (when I was in a CL trade). Cannot manage 2 at the same time and chose to pass.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-cl-inside-bar-trades-13-jul.jpg  
The following user says Thank You to wgreenie for this post:
 
  #734 (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: 1091.00 - 1084.25 (6.75 points)
Value Area as at 10:32 am: 1090.25 - 1087.75 - 1085.25 (5 points)
Price opened @1086.25
Today's High and Low as at 10:32 am:1091.00 and 1084.25 (matching IB)
VPOCs: Top 1108.75 (1087.50 was touched) and Bottom VPOC 1073.00
Overnight High and Low: 1088.25 and 1073.00

We have a 10-point gap up as yesterday's range was quite narrow. I think today's top is in. We know Mr Market will rotate either Up or Down to add more sparkles to our trading day. Trade with the Trend!

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-09-10-7_13_2010-30-min-.jpg  
 
  #735 (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

How am I going to spend the remaining trading hours?

Nelson and I attended a Webinar last night. He's in sales and believes the daily clips may inspiring him everyday. Think about it. He's on the road for 12+ hours trying to close at least one or more leads EOD. Since the 30-day trial will cost me only a dollar, I am going to register and download all the goodies within 30 days LOL! The trial may benefit me too. My subconscious needs energizer haha ..

Continue enjoying your day.

Beth

 
  #736 (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

Money Management Review - You will laugh!!

I just finished reviewing my Futures log, ie from the first ES one in May 2009 to the last one in Nov 2009. I can certainly laugh at my stupidity!

1. ES 4 ticks PT vs 12 ticks SL (worst trade holding it overnight and got out @60+ ticks loss | best trade making 6 ticks)

2. YM 7 ticks PT vs 20 ticks SL (suggested rule from a daytrading room - worst trade losing 24 ticks | best trade making 8 ticks)

3. YM 7 ticks PT vs 10-15 ticks SL (with some trading peers in a daily web-meeting - average losing trade 10-12 ticks | average winning trade 4-5 ticks)

Note: Winning/Losing ratio 2/8!! I did not know how to trade. I did not have a trading system that I understand or comfortable to trade with. Yet I was stupid enough to use my real money and trade!!

I am writing them out and speaking out loud so that I am in a better position to map out a more effective money management strategy! At least learn from my past experiences!!

Beth

 
  #737 (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

Being a "learning sponge", seemed like I have to continue learning "hopefully not forever"!!

Guess how I spent the past few hours??

Well, I finished reading the following thread:

https://futures.io/elite-circle/3332-jeffs-cci.html

Another Amazing thread by Jeff (as always)! I visited it weeks ago and it's too advanced for me then. Noticing Jeff's using CCI for continuation trade set up has aroused my interest again. Well, the second visit is smoother .. haha ..

You will enjoy learning from Jeff for sure!

Beth (Hmm, maybe I should rename myself from "learning sponge" to "??" .. smile ..)

 
  #738 (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 Wed

Price currently trades at 1086.50 (3 points below yesterday's Close @1089.50). Guess the 8:30 news were not good.

Overnight High and Low as at 9:10 am are 1099.00 and 1086.50 respectively. Price is falling.

Top VPOC 1090.75 (1108.75 next on the line)
Bottom VPOC 1073.00

Have a Successful day.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-premarket-homework-14-jul-wed.jpg  
 
  #739 (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

Wednesday Schedule

9:45 am to 11:00 am TF semi-auto trade if my strategy triggers a trade
10:45 am to 12:00 noon CL (after release of the crude oil report)
1:00 pm to 2:15 pm CL optional

Note: May take the afternoon off as we have FOMC meeting minutes at 2:00 pm and the market maybe crawling. Let's play it by ear.

Beth

 
  #740 (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: 1090.75 - 1084.50 (6.25 points)
Value Area as at 10:32 am: 1089.25 - 1087.75 - 1085.75 (3.5 points)
Price opened @1087.75 (1.75 points gap down)
Today's High and Low as at 10:32 am: 1091.25 and 1084.50
VPOCs: Top 1108.75 (1090.75 was touched) and Bottom VPOC 1073.00
Overnight High and Low: 1099.00 and 1086.50

We may have a narrow-range morning until FOMC in the afternoon.

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-es-09-10-7_14_2010-30-min-.jpg  

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