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

  #831 (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 on Set Ups and Trade/Money Management

1. Set Ups

a. Inside Bar - continue to be my bread and butter.

b. Outside Bar - continue to monitor the same before doing any real trades.

c. Reversal bar - occasionally merge with Inside Bar. When it happens, it becomes my favorite.

What's My Next Move incl Goal for the Coming Week?

1) Inside Bar (A set up) - 3-5 1-contract trades per week (PT @8)

2) Inside/Reversal Bar (A+ set up) - 2-3 2-contract trades per week (PTs @8 and 16)

3) Weekly Goal for the Coming Week: 80-100 ticks before commission

2. Trade/Money Management

a. A and A+ Set Ups

1-contract and 2-contract trades for A and A+ set ups respectively. Based on my observation for the past 3-4 weeks, we had at least one Inside/Reversal trade daily. Why not trading them all? I am very news conscious LOL! If it happens around the news zone, I will SOH and be a disciplined trader. Hopefully will still have 2-3 for me .. smile ..

b. SL

I am going to use CCI indicators to identify an early exit opportunity if and when a trade is not working. Time is another factor .. say 5-7 minutes after entry and I should start looking as well. In short, I will do my best not having a full SL get hit.

Continue enjoying your weekend.

Beth (Nelson had 2 rough days .. I took him out for a delicious Thai lunch (my favorite restaurant). It's a value-added combo $10 incl a yummy spring roll, homemade soup or mango/cucumber salad + choices of 8 different entrees. It's so delicious that he over-ate and finished the whole combo meal. I had some leftover for tonight's dinner .. haha ..)

 
  #832 (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

Update on CCI Continuation Chart/Trade

Almost forgot .. oooo ..

After having the CCI Continuation Chart for 1.5 weeks, I really like it esp the audio alert. There're occasions when it coincided with the three set ups stated in my earliest post, ie made the signals become A+ .. smile ..

For my next move, I will continue monitoring/learning its behaviour. It will definitely help my trading decision incl order size.

Beth (Now I believe I've covered everything. )

 
  #833 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,196 received

Pre-market Homework for Monday


Top VPOC 1108.75 (based on Friday Close @1101.00)
Bottom VPOC 1039.50

Have a Successful week.

Beth

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Beth's Journey to Make Her Millions-premarket-homework-26-jul-mon.jpg  
 
  #834 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Posts: 1,773 since Dec 2009
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Inside/NR4 Bar

It's another Inside bar set up with details as follows:

Inside Bar

The light yellow ones (per enclosed) are Inside/NR4 bars. It represents a low risk entry (not sure if it's better than regular Inside bars) .. I am going to monitor them as well.

Note: You will find the Narrow Range Bar indicator from NJ Forum or
https://futures.io/journals-daily-charts-chart-reading/4183-three-set-ups-71.html#post52447

Beth

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Beth's Journey to Make Her Millions-cl-09-10-7_23_2010-15-min-.jpg  
 
  #835 (permalink)
Elite Member
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wgreenie View Post
It's another Inside bar set up with details as follows:

Inside Bar

The light yellow ones (per enclosed) are Inside/NR4 bars. It represents a low risk entry (not sure if it's better than regular Inside bars) .. I am going to monitor them as well.

Note: You will find the Narrow Range Bar indicator from NJ Forum or
https://futures.io/journals-daily-charts-chart-reading/4183-three-set-ups-71.html#post52447

Beth

Great Journal!

Anyways, my experience with NR4/NR7 is that it makes the chart look pretty but they don't perform any better than just trading IB's.

The following user says Thank You to wirechild for this post:
 
  #836 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
Futures Experience: Intermediate
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Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
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wirechild View Post
Great Journal!

Anyways, my experience with NR4/NR7 is that it makes the chart look pretty but they don't perform any better than just trading IB's.

Thanks Wirechild for your sharing. I went through the Inside/NR4 bars for the past 30 days and have to agree with you .. smile ..

Have a Successful week ahead.

Beth

 
  #837 (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

CL Outside Bar Practice on 26 July

While waiting for an Inside Bar, sim traded 2 Outside Bar trades (blue bar). The first one was a smooth sail. I did not enter the second one upon its getting triggered. Rather I waited until CCI hooked down and got a better entry. Those who followed the entry rule might get a little bit of heat (10-12 ticks against the trade) for some minutes before its reaching the first PT 8.

Now we may have an Inside Bar. Unfortunately it's news zone (New Home Sales at 10:00 am) and I am not going to take it and wait for another one LOL!

Beth

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Beth's Journey to Make Her Millions-cl-outside-bar-practice-26-jul.jpg  
 
  #838 (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: 1107.50 - 1097.75 (9.75 points)
Value Area as at 10:30 am: 1104.75 - 1101.75 - 1097.75 (7 points)
Price opened @1101.00
Today's High and Low as at 10:30 am: 1107.75 and 1097.75
VPOCs: Top 1108.75 and Bottom VPOC 1091.00
Overnight High and Low: 1103.00 and 1097.00

New Home Sale news was over. Let's see if Mr Market may rotate Up or Down to extend the daily range.

Beth

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  #839 (permalink)
 Vendor: www.ezcolortrading.com 
Cambridge, Ontario
 
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Platform: NinjaTrader
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Favorite Futures: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,196 received

An Inside Bar completed at 10:00 am .. SOH for the news. The existing bar (plotting in progress) has exceeded the previous bar's High .. Well, let's wait for the afternoon session.

Beth

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Beth's Journey to Make Her Millions-cl-09-10-7_26_2010-15-min-morning.jpg  
 
  #840 (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 Report for Mon 26 Jul


After hours of waiting, we had an Inside Bar completed at 1:00 pm. Unfortunately, the Long only got to 4 ticks before going south. Since the CCI indicators looked positive, I stayed in the trade. Over 15 minutes passed by and it's still struggling below my entry. I tried to get out BE and ended up giving 6 ticks to Mr Market. When a new 15-minute bar started with its Open below the previous bar + Bid/Sell on the DOM told me it's falling, I chose to exit asap and not trying to B/E.

Post-Trade Review: If one held on for another 15 minutes (the trade would be 30+ minutes), he/she would get the initial PT 8.

Emotion-wise: No racing heart .. still numbed fingers .. The trade almost started going south immediately upon entry .. lots of heat though the SL cushion was 18. There were a few seconds that it's back to Green and I did not grasp the opportunity to close the position.

Realization: I definitely love "scalping" .. quick trade in-and-out and not staying long in a trade. If a trade is working, maybe it's fine to stay a little longer and move SL along to protect the gains. It's my prelim diagnosis on my trading preference.

Let me do my very best to regain the lost ground (6 ticks) in the coming days!

Beth

Attached Thumbnails
Beth's Journey to Make Her Millions-cl-trade-log-26-jul.jpg  

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