Beth's Journey to Make Her Millions - Trading Journals | futures io social day trading
futures io futures trading


Beth's Journey to Make Her Millions
Updated: Views / Replies:184,406 / 1,776
Created: by wgreenie Attachments:877

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 877  
 
Thread Tools Search this Thread
 

Beth's Journey to Make Her Millions

  #881 (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 Mon

A little early .. based on Fri close .. smile ..

Will now review what're in my trading toolbox and map out my revised trading plan. Will be back ..

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-premarket-homework-2-aug-mon.jpg  
 
  #882 (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 Plan/Set Up for August

I spent the past 5 hours reviewing the most recent set ups I have. I love the simplicity of the Inside Bar set up. Yet I have to consider my account size and risk limit. My heartfelt thanks to Big Mike for his posts which addressed them promptly - Great reminder for me!!

I went through the whole Perry's Platform thread again. It's very important to refresh my memory + picking up more tips on entry/exit/money management. At the beginning, I was sad and almost wanted to cry .. sigh .. What happened?

1. It's my pride. I felt like a failure giving up the Inside/Outside Bar set up UFN.
2. Remember I stayed with the original 4-Range set up in mid Apr since I was overwhelmed with the revised Methods 1 and 2 .. counting bars etc etc. I have to decide "again" whether to resume using the original 4-Range set up (which I modified to meet my preference) or adapt to one of the two new methods (using EMAs and not SMAs).
3. After going through the thread incl certain posts a few times, I adapted my ES set up with the enclosed. Major changes: Removal of SMA 40 and replacement of SMAs with EMAs.

Trading Plan for August

1. Depend on how comfortable I am using the enclosed 4-Range set up (don't know until I'm on live), only 1 1-contract trade/day for the first 2-3 days, then occasional 2-contract ones. Maximum 2-3 trades/day for the first 1-2 weeks. No over-trading.

a. 1-contract trade: PT/SL @4 and 6
b. 2-contract trade: PTs @4 and 6 with initial SL @6. Revised SL to +1 after reaching the first PT.

2. I may sim-trade for the whole week. If yes, 1- or 2-contract trades are fine. Unlimited number of trades for practice (must be valid signals).

3. Trading Hours: 9:40 am to 11:30 am (Primary) | 1:45 am to 3:30 pm (Optional) | SOH when there's important news (15 minutes before and after) and 2:30 pm - 3:00 pm (Bond closing)

4. Continue with Market Profile and the CCI chart serves to get me out of a trade when it's not working.

5. 6E (9:00 am to 11:00 am) - Using the same set up and Market Replay in the evenings. Why? I learned that 6E trades at a wider range than ES esp when it's moving/trending. I sim-traded several strategies on 6E before and did notice its wider price movement. It maybe a candidate between ES and CL - a perfect match for me?! Will explore.

Wish me luck! Smile.

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-set-up-aug-2010.jpg  
The following user says Thank You to wgreenie for this post:
 
  #883 (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: 29,354 given, 83,237 received



wgreenie View Post
Wish me luck! Smile.

Beth

You don't need luck, just a solid plan, good execution, and a clear head. But, good luck nonetheless

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:
 
  #884 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,510 since Nov 2009
Thanks: 2,267 given, 2,371 received


wgreenie View Post
I spent the past 5 hours reviewing the most recent set ups I have. I love the simplicity of the Inside Bar set up. Yet I have to consider my account size and risk limit. My heartfelt thanks to Big Mike for his posts which addressed them promptly - Great reminder for me!!

I went through the whole Perry's Platform thread again. It's very important to refresh my memory + picking up more tips on entry/exit/money management. At the beginning, I was sad and almost wanted to cry .. sigh .. What happened?

1. It's my pride. I felt like a failure giving up the Inside/Outside Bar set up UFN.
2. Remember I stayed with the original 4-Range set up in mid Apr since I was overwhelmed with the revised Methods 1 and 2 .. counting bars etc etc. I have to decide "again" whether to resume using the original 4-Range set up (which I modified to meet my preference) or adapt to one of the two new methods (using EMAs and not SMAs).
3. After going through the thread incl certain posts a few times, I adapted my ES set up with the enclosed. Major changes: Removal of SMA 40 and replacement of SMAs with EMAs.

Trading Plan for August

1. Depend on how comfortable I am using the enclosed 4-Range set up (don't know until I'm on live), only 1 1-contract trade/day for the first 2-3 days, then occasional 2-contract ones. Maximum 2-3 trades/day for the first 1-2 weeks. No over-trading.

a. 1-contract trade: PT/SL @4 and 6
b. 2-contract trade: PTs @4 and 6 with initial SL @6. Revised SL to +1 after reaching the first PT.

2. I may sim-trade for the whole week. If yes, 1- or 2-contract trades are fine. Unlimited number of trades for practice (must be valid signals).

3. Trading Hours: 9:40 am to 11:30 am (Primary) | 1:45 am to 3:30 pm (Optional) | SOH when there's important news (15 minutes before and after) and 2:30 pm - 3:00 pm (Bond closing)

4. Continue with Market Profile and the CCI chart serves to get me out of a trade when it's not working.

5. 6E (9:00 am to 11:00 am) - Using the same set up and Market Replay in the evenings. Why? I learned that 6E trades at a wider range than ES esp when it's moving/trending. I sim-traded several strategies on 6E before and did notice its wider price movement. It maybe a candidate between ES and CL - a perfect match for me?! Will explore.

Wish me luck! Smile.

Beth

Beth,

I think that someone that works as hard as you do deserves to be successful. I don't know if luck plays a role in this game or not. Sometimes I think it does, so I do wish you the best of luck, but I do agree with Mike. Like the saying goes, Plan your Trades and Trade your plan.

Now for my questions. 1. I see you target 4 tics with a stop of 6. I guess that is ok if you expect to have a high % success rate. Is that the idea.

2. In looking at your range chart I see the long after the ABC. That gave you much more than 4 ticks, so could you make your target based on something other than a set 4 tics. For example, when the force index changes color or you get a close below a moving average. Something to allow you to benefit from the move.

3. Do you consider yourself to be a scalper?

4. Did you create the ABC indicator? Do any particular factors need to be in place for it to indicate an ABC,such as C retracing a certain % of the AB swing?

David

The following user says Thank You to David_R for this post:
 
  #885 (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


David_R View Post
Now for my questions. 1. I see you target 4 tics with a stop of 6. I guess that is ok if you expect to have a high % success rate. Is that the idea.

2. In looking at your range chart I see the long after the ABC. That gave you much more than 4 ticks, so could you make your target based on something other than a set 4 tics. For example, when the force index changes color or you get a close below a moving average. Something to allow you to benefit from the move.

3. Do you consider yourself to be a scalper?

4. Did you create the ABC indicator? Do any particular factors need to be in place for it to indicate an ABC,such as C retracing a certain % of the AB swing?

David

Thanks David for your kind encouragement and best wishes!

Let me address your raised questions as follows:

1. PT/SL @4 and 6 = higher successful rate based on my sim trading between Apr and Jun.

2. Yes, if the trade aligns with the ABC breakout, it should give more than 4 ticks. When I was sim-trading, it did not happen very often (or I focussed only the 4-Range entry rules) .. so I was happy with 4 most of the time. I will certainly pay attention to the ABC breakout with your kind reminder/suggestion.

Question please: Willl you kindly elaborate more on "getting a close below or above a MA"? Thanks.

3. Yes .. I am a scalper .. want to be in and out within "seconds" or minutes. If a trade is going my direction, I probably don't mind staying longer .. smile .. Plus when my account size grows bigger, I will consider enjoying occasional runners LOL!

4. The ABC indicator was a gift from a trading friend who requested me to keep it private. After going through the script a few times, I estimate that the triangles will be plotted when minimum retracement: 60 and maximum retracement: 92. I cannot figure out the logic behind the green/red arrows yet. Hopefull it will come to me in the future. As of this moment, I only watch out for breakout trades if and when I remember (not very often yet). Based on observation, they often happen overnight (before the market opens), or around lunch hour or close to 3ish when I am not trading.

Have a Great week David. Big Big Thank YOU!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #886 (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

Civic Holiday here in Ontario Canada

You can tell I ignored Nelson yesterday when I was occupied with system review and thread reading etc etc. He made almost 10 attempts (incl taking some "goofy" photos) to draw my attention and/or got me out of the office .. without success unfortunately. Ended up zozozo on the sofa around 7:00 pm and officially went to bed before 9:30 pm.

We have news incl Geithner's speech at 10:15 am. I just clarified an entry myth with Perry and everything good to go. Having the last piece of puzzle in good order - a Big relief!

Nelson needs attention and he's off today. I've decided to take the day off. Will market replay both ES and 6E EOD to get ready for a Great start tomorrow.

Have a Successful week everyone!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #887 (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: 1119.00 - 1110.25 (8.75 points)
Value Area as at 10:32 am: 1116.75 - 1114.75 - 1110.75 (6 points)
Price opened @1114.50
Today's High and Low as at 10:32 am: 1119.00 - 1110.25 (matching IB)
VPOCs: Top 1128.50 and Bottom 1095.00
Overnight High and Low: 1115.00 and 1101.75

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
Attached Thumbnails
Beth's Journey to Make Her Millions-es-09-10-8_2_2010-30-min-.jpg  
 
  #888 (permalink)
Elite Member
San Jose, Ca
 
Futures Experience: Beginner
Platform: Ninja
Broker/Data: AMP/CQG
Favorite Futures: Something moving
 
David_R's Avatar
 
Posts: 1,510 since Nov 2009
Thanks: 2,267 given, 2,371 received


wgreenie View Post
Thanks David for your kind encouragement and best wishes!

Let me address your raised questions as follows:

1. PT/SL @4 and 6 = higher successful rate based on my sim trading between Apr and Jun.

2. Yes, if the trade aligns with the ABC breakout, it should give more than 4 ticks. When I was sim-trading, it did not happen very often (or I focussed only the 4-Range entry rules) .. so I was happy with 4 most of the time. I will certainly pay attention to the ABC breakout with your kind reminder/suggestion.

Question please: Willl you kindly elaborate more on "getting a close below or above a MA"? Thanks.

3. Yes .. I am a scalper .. want to be in and out within "seconds" or minutes. If a trade is going my direction, I probably don't mind staying longer .. smile .. Plus when my account size grows bigger, I will consider enjoying occasional runners LOL!

4. The ABC indicator was a gift from a trading friend who requested me to keep it private. After going through the script a few times, I estimate that the triangles will be plotted when minimum retracement: 60 and maximum retracement: 92. I cannot figure out the logic behind the green/red arrows yet. Hopefull it will come to me in the future. As of this moment, I only watch out for breakout trades if and when I remember (not very often yet). Based on observation, they often happen overnight (before the market opens), or around lunch hour or close to 3ish when I am not trading.

Have a Great week David. Big Big Thank YOU!

Beth


Beth,

Okay, here is a chart of what I mean about waiting for a close below the moving average in this case. I marked it up. I also indicated that with your ABC indicator a good target for an ABC pattern is the length of the AB leg projected from C creating point D. In other words, the length of CD will equal AB. In the attached chart it worked out that way. Also, I'm assuming your 5 minute is your higher time frame chart. That is indicating long, correct? One other thought would be to trail a stop just below the low of the close of each bar. Just some opinions. I hope they are helpful. You can always move your stop to entry after a move of 4 tics and hope to catch a larger move.

By the way, I know being in a trade can be nerve racking, but i think the pros feed off of that fear. They know we feel that way so that is why price oscillates so much. Up and down and up and down. I think it is done to scare us out of positions or taking profits very early.

David

Attached Thumbnails
Beth's Journey to Make Her Millions-beth-chart.jpg  
The following user says Thank You to David_R for this post:
 
  #889 (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


David_R View Post
Beth,

Okay, here is a chart of what I mean about waiting for a close below the moving average in this case. I marked it up. I also indicated that with your ABC indicator a good target for an ABC pattern is the length of the AB leg projected from C creating point D. In other words, the length of CD will equal AB. In the attached chart it worked out that way. Also, I'm assuming your 5 minute is your higher time frame chart. That is indicating long, correct? One other thought would be to trail a stop just below the low of the close of each bar. Just some opinions. I hope they are helpful. You can always move your stop to entry after a move of 4 tics and hope to catch a larger move.

By the way, I know being in a trade can be nerve racking, but i think the pros feed off of that fear. They know we feel that way so that is why price oscillates so much. Up and down and up and down. I think it is done to scare us out of positions or taking profits very early.

David

Hi David

My heartfelt thanks for marking up the chart. I now understand how to stay longer and wait for a close below the MA or trail a stop using the close of each bar.

When I tried to figure out the logic behind the green/red arrows (indicate potential entry I believe), I came across an aggressive entry suggestion, ie 50% of the length of BC. It happened to match your suggested entry 1096 (C 1094.25 + 1/2*(B 1097.75 - C 1094.25)). Do I get it right? Or you have a different method in getting the suggested entry price? If yes, hope you will enlighten me again. Thank you!

On my notes, ABC breakout trades = price has to break out or down point B .. the safer/conservative approach.

Beth (Just came back from a drive to the Swan Lake, visited Organic Garage (lots of organic goodies at bargain prices) and a quick Vietnamese lunch.)

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
 
  #890 (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 Plan


I am writing them out so that I will have a clearer picture on how to spot high probability trades incl trade management when I'm in a trade.

1. Switchover from SMA to EMA Mostly Method 1 as Method 2 (green/red bar) does not happen as often. Used to be quite overwhelming. No longer after doing more homework. Actually I like the specific entry rule on price, ie 1 tick above or below the HH or LL of the the 5 bars once we have a set up bar. Once I have all the entry conditions, I place a Buy/Sell Stop order with predetermined PT/SL orders .. waiting for it to get triggered and relax .. haha ..

Note: The original SMA does not have the price entry suggestion.

2. 4-Range Set Up is primary while the MP 30-minute and CCI 5-minute ones are secondary.

3. Will cushion 2-contract trades very soon .. when I get a better feel on the set up/signals. Looking at historical data seemed easy/simple. I will do more Market Replay .. Practice makes perfect! Then for the second contract, I may adjust PT 6 to 8 or more when it's an ABC breakout or most indicators look positive.

Note: I did try PT 8 for the second contract when I was sim-trading. The revised 1-tick SL got hit all the time and I ended up with 5 ticks for most 2-contract trades. That's why I adjusted it to PT 6. Having said that, I wasn't using the 4-Range set up as my primary chart. Let's see what may happen this time.

4. Still aim to finish trading before 12:00 noon. 2-3 profitable trades everyday (even one) would be an Amazing start for me!

5. Preserve Precious Capital and No Over-trading are always on my Priority List.

Almost EOD and get ready for Market Replay LOL!

Beth

Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!

Closed Thread



futures io > > > Beth's Journey to Make Her Millions

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
AR01 Our Journey AR01 Elite Trading Journals 226 January 31st, 2012 02:52 AM
When milliseconds make millions Big Mike News and Current Events 2 July 31st, 2011 07:28 AM
US Taxpayers Paying Millions For Fannie, Freddie Lawsuits Quick Summary News and Current Events 0 January 24th, 2011 12:20 PM
Verizon to Refund Millions of Customers for False Charges Quick Summary News and Current Events 0 October 3rd, 2010 07:50 PM
Welcome to My Journey! trader1512 Trading Journals 5 April 14th, 2010 09:56 AM


All times are GMT -4. The time now is 03:57 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-17 in 0.20 seconds with 20 queries on phoenix via your IP 54.227.51.103