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Beth's Journey to Make Her Millions


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Beth's Journey to Make Her Millions

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  #1 (permalink)
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,201 received

Hi

Thanks for visiting my thread!

I sim-traded 2 amazing systems (created by The Wizard of the Holy Grail thread) in January. All trading mornings were green.

I was quite aggressive trying to monitor 2 instruments (ES and YM) for the first 2 weeks. Then realized it's too challenging for a newbie (me) to focus on 8 charts! I switched gear and only sim-traded YM for the last week of January. I made $1,110.00 and often traded only an hour in the morning (mostly 2-3 contracts per trade and had a few runners).

It's a big boost to me and I started doing real trades last week ("thinking" February would be a great start for my Successful trading profession). The first 2 mornings were green and started Wednesday I turned to be a different trader. "Completely out-of-control" fit me like a T! I still cannot figure out why. In short, I ignored the trend and signals. Let a trade go south south south and was extremely lost!

I now can understand how one could easily blow up an account within minutes. Good news for me: My Futures account is still intact and with some bruises of course.

After some inner searching, I've decided to resume sim-trading this coming week. I will only trade with the trend and follow the system rules (incl an exit strategy) diligently. I will also adjust the charts to 6-tick ones (from 4) until I am more competent in managing my trades.

You will laugh at me: I have all the trading rules posted on the trading monitors (nicely displayed with our favorite photos). Yet I chose to ignore them and the great indicators in front of me last week (esp Thursday and Friday). No more stupidity!

I will share my log in this thread. Thanks to Big Mike for this opportunity!

Happy & Successful Trading everyone!

Beth

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  #3 (permalink)
Dallas,tx
 
Experience: Advanced
Platform: Market Delta
Broker: Velocity /TT
Trading: ES
 
benbrooke's Avatar
 
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Congratulation on your new thread!

i am excited to see how this system will work for you!! (Make Millions )

i think its a good practice to post your trading plan too.

Happy Trading

Ben

Keep on sowing your seed, for you never know which will grow -- perhaps it all will.

-- Albert Einstein
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  #4 (permalink)
Maryland
 
Experience: Beginner
Platform: NinjaTrader
Trading: Guitar :)
 
Posts: 15 since Jan 2010
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Godspeed

 
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  #5 (permalink)
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,201 received

Thanks to Ben. Here it comes my daily game plan for YM:

Want Only What the Market Wants
Trade with the TREND
Only High Probability Trades (SOH and wait patiently for the signal!)
Preserve Precious Capital

- Always check the daily news announcement
- Do not trade when there's news
- Identify the trend (eg Up, Down, Choppy, Mixed, Sideway)

Main Trading Systems:
- The Wizard's Scalping (Primary for quick trades)
- The Wizard's Den (Stay with the main trend + having the last contract as a potential runner)

Position Size: 2-3 contracts per trade

Profit Targets:
- Initial target of 6 ticks
- Second/Last target for the potential runner: The Wizard's Den set-up will keep me in a trade longer. Exit trade when there's a warning (from one or more of the indicators) + more cautious when it's close to a major Support/Resistance level

Money Management (StopLoss):
- Initial MM: 1 tick above or below the blue or red ADX dot (on the Scalping system) - very often less than 15 ticks
- Adjust it when the trade is working
- Will not let a winner become a loser (it's my goal anyway)

Trading Hours: Between 9:30 am and 11:30 am
(Best Trading Hours: 9:43 am | 10:14 am | 10:32 am | 11:00 am | 11:34 am)

~ Good Trading is About Trading Right!! ~

Happy & Successful Trading!

Beth

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  #6 (permalink)
Toronto
 
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Good luck in your journey Beth , never ignore your rules no matter what and you will do just great !
Cheers
soumi

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
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  #7 (permalink)
San Jose, Ca
 
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David_R's Avatar
 
Posts: 1,516 since Nov 2009
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Beth,

I was wondering how you are determining the trend? Is it based on the chart time frame you are trading or a higher time frame?

This is an amazing business and its down right scary how it brings out all our demons and wacky behavior. I was going to post my rules on my monitors too. One of the things I'm going to post on my monitor is a card that says "follow your rules".

Good Luck

David

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  #8 (permalink)
Sydney - Australia
 
Experience: Intermediate
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Alan's Avatar
 
Posts: 155 since Jun 2009
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Good luck Beth. Just remember - take small steps, one a time, and before you know it, you'll be on your way.

Good trading.

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  #9 (permalink)
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,201 received

Hi Everyone

My trillion thanks for your kind encouragement and guidance.

Enclosed are my sim trade results with a crispy recap.

I was quite aggressive at the beginning, ie trying to trade with both 4- and 6-tick charts (ie 4 charts for 2 systems). Good that I realized this oversight and focussed on 2 within minutes.

The Scalp set-up is the main system I'm using for some quick trades. The Trend set-up helps me identify the overall trend + let the 2nd contract run. Neutral (on red/blue background) and white dots = undecided/choppy market and I will wait patiently.

I'm happy with today's sim-trading. To trade live, I will trade when the market opens and not before 9:30 am.

Happy & Successful Trading!

Beth

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  #10 (permalink)
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,201 received


Hi

Enclosed are my system rules and exit strategy + a Cute Poster reminding me to be a Disciplined and Focussed Trader LOL!

Happy & Successful Trading!

Beth

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futures io Trading Community Trading Journals > Beth's Journey to Make Her Millions


May 21, 2011


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