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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)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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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)
 benbrooke 
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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)
 tony2009 
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Godspeed

 
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  #5 (permalink)
 wgreenie 
Cambridge, Ontario
 
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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)
 soumi71 
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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 David_R 
San Jose, Ca
 
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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)
 Alan 
Sydney - Australia
 
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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)
 wgreenie 
Cambridge, Ontario
 
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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)
 wgreenie 
Cambridge, Ontario
 
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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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 Dragon 
Bellingham, WA
 
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$245 looks right by my calculations. I thought originally that the commish would eat you up, but I guess not. Very interesting setups. I will follow your journal along as you continue to update it. Good luck to you.

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 Big Mike 
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Good job Beth.

Like others have said, take it nice and slow. Try naming one specific goal for you to focus on each day and grade yourself on how well you did. The goal could be to not over trade, or the goal could be to stop after hitting a certain target, or to let your runner run, etc etc. If you name just one goal it helps you focus on it.

Do it for a week and then you can slowly add another goal and another, after you've become proficient with the prior ones.

Trading is about consistency. You've got to take consistent winners and not let any one trade or any one bad day derail you.

Mike

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 wgreenie 
Cambridge, Ontario
 
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Thanks to Big Mike. I would like to add that I've accomplished 2 goals today, ie

- Managed a few trades "to my satisfaction" that went or intended to go the opposite direction. To have a Money Management order while waiting for the profit target to be hit is EXTREMELY IMPORTANT for my developing a Consistent Successful Trading Career! (a lifetime one too .. smile ..)

- I had a runner of over 25 ticks today and closed it around the resistance level. With the Wizard's Den set-up, I felt confident to let the last contract run. While it's moving, I also adjusted the MM order to ascertain that it's a winning trade at the end.

Before having The Wizard's set-ups, I never had a runner even I was in a few daytrading rooms with a moderator calling out trades. Bear in mind that I started trading Futures (both sim and real) since last Jul. Like a "blind" fly with no direction and cannot simply follow one's verbal instructions!

Effective and Efficient Trade Management is and will always be my on-going trading goal!

My heartfelt thanks again to all of YOU! Happy & Successful Trading.

Beth

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 wgreenie 
Cambridge, Ontario
 
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Hi Everyone

Believe your morning is going well. Ditto here as I got lots of chances to practise how to manage my trades.

You will see from my recap on the enclosed Trade Log that I finally have a corresponding MM order for every trade. I even did an inadvertent market order for one of them LOL!

It's a little pink (-$40) before commission and $95 commission for the practice platform haha ..

Feb Gross Comm Nett Acc Total
8 (Mon) 330 85 245 245
9 (Tue) -40 95 -135 110

Accu sim result for the 2 mornings is in Green Hurrah!

For tomorrow, I will stay with the main trend and no counter-trades, ie not following all the signals on the scalp. Let's see what may happen.

Note: It's important to have a calm trading environment. Had some unexpected disturbances at the beginning.

Continue enjoying your day. Happy & Successful Trading Always!

Beth

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  #15 (permalink)
 markbbn 
Newington, CT
 
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Beth

Would you post your templates or list of indicators?
I would like to follow along on your Journey

 
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 wgreenie 
Cambridge, Ontario
 
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Hi Everyone

I spent some time to resolve some technical issues and started trading only after 10:00 am. It's a Green morning and I'm happy that I succeed in doing ONLY SHORT trades (align with the overall trend per the Trending set-up). I'm quite satisfied with my trade management when the signal bars turned color after my entry.

More importantly I SOH when the scalp set-up gave me Long entry signals. A little confession: My fingers were "itchy" when I saw the blue blue signal LOL!

Lessons learned (reminder as well):

1. Higher probability trades (less risk exposure) when I stay with the trend.
2. Money management to preserve precious capital. When there's a warning, it's more advisable to get out. There're always profitable trades waiting for me!

Happy & Successful Trading!

Beth

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  #17 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Hi Mark

Enclosed are the indicator lists and templates. Enjoy!

I would like to thank The Wizard again for sharing his Amazing systems and wisdom with me.

Happy & Successful Trading Always!

Beth

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 wgreenie 
Cambridge, Ontario
 
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Hi Everyone

I learned (after contributing to the Market) that it's more advisable to SOH when there's news that may move the market. When I was in some daytrading rooms, we're told to close our position (if any) a few minutes before the news.

I have not figured out when to resume though!? For example, the market has moved down or up immediately after the news. Should I wait for a pause (according to my systems and wait for another turning point or confirmation) or it's fine to enter a trade that aligns with the trend within the first 5-10 minutes after the news?

Appreciate your comments to resolve this myth. Thank you!

Happy & Successful Trading!

Beth

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  #19 (permalink)
 kees 
Nederland
 
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Can someone please point me in the direction where to find the
Leader Of MacD_V2 and the Stochastics DAD
Thanks and good trading

 
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  #20 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Hi Kees

I got the indicators from The Wizard (creator of the Holy Grail thread). I learned that he's working on a new thread (WizardsDen) and will release his new set-up together with the indicators and template + trading rules in the very near future.

You may want to wait for the thread or Private Message him for the indicators.

Happy & Successful Trading!

Beth

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 kees 
Nederland
 
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Thanks for the answer, looking forward to his new system, hard to wait!
Good Trading

 
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 wgreenie 
Cambridge, Ontario
 
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Hi Everyone

Goals accomplished this morning:

1. Money management and Preserve Precious Capital

I stayed with the overall trend (using the Trend set-up as my torch) and did 2 trades. No over-trade.

Realization: 1-2 good/profitable trades are Great. I simply need to increase the number of contracts when I am consistently successful.

2. Patience is Gold

No more itchy itchy when there're conflicting signals. I waited for the Divergence (Panel 3) to be resolved before entering a trade.

Happy & Successful Trading Always!

Beth

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 Dragon 
Bellingham, WA
 
Experience: Intermediate
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Scalping queen. Rock on.

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  #24 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Trading: 6E
 
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I'm a little down with a weekly result of $20 in pink .. ooooo .. sigh ..

I need to explore and learn how to manage a trade when it goes south or starts going the opposite direction! The comfort part is I always have a predetermined MM order for exit. When I have 1 or more warnings, I am thinking if I should exit earlier to minimize the losing ticks or let the trade continue?!!

Appreciate and welcome any comments and suggestion please.
:sos: Thank You!

Continue enjoying your day + a Relaxing Long weekend! (Here in Ontario Canada too as we have next Mon as a Family Day - started in 2008.)

Beth

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  #25 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Broker: Zen-Fire
Trading: 6E
 
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Big lesson - just realized!

I have daily P&L targets, ie STOP TRADING when either one is hit. I forgot to apply it to my sim trading!

Daily Profit - $200 after commission
Daily L - $100 after commission

Weekly Profit - $ in Green (no specific amount)
Weekly L - $200 after commission: I will observe this for live trading so that I can continue the trading venture. Need to preserve precious capital LOL!

For sim trade, I will observe the daily L only (not the weekly L) so that I can continue learning how to trade. Having said that, I'd love to stay with the trading time span between 9:30 am and 11:00 am (or max 11:30 am). I notice the market is more challenging after 11:30 am. Last week I was trapped 2 times (when my real account got bruised), ie

Thu for an hour between 11:30 am and 12:30 pm
Fri for 2 hours until 1:30 pm

Please feel free to share your ideas/experiences with me. Thank you!

Note to Dragon: Yes, I am going to be a Scalping Queen - getting close .. smile ..

Happy & Successful Trading!

Beth

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  #26 (permalink)
 Eric j 
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" When I have 1 or more warnings, I am thinking if I should exit earlier to minimize the losing ticks or let the trade continue?!! "

What are the warnings specifically ? When I bail on a trade they usually turn around and go the way I wanted them to . I dont like a full stop but I dont like taxes either but I gotta pay them . Psychologically I feel better taking the hit because when I bail and it turns out I shouldnt have exited early that effects my ability to make the right decision on the next trade .

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  #27 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Thanks Eric for your prompt sharing.

For the enclosed long trade, the signal "blue" bar did not have a black hash when I entered. Then within seconds, a black hash appeared +

- the trade bar changed to red with a black hash
- indicators on Panels 2 and 3 have become negative
- white dot and red candle on the 4-tick Trending set-up

My MM order was placed according to the rule, ie 1 tick below the blue ADX dot on the signal bar, and got hit.

My learning is: I should do my best to catch the first drift up. My signal bar was a 2nd signal bar. Not sure if a repaint happened (sometimes it did), ie a black hash could be there and got removed. Or the reality was I did miss the first signal bar and tried to catch the rally. Notice the enclosed trade was a low risk one. For the record, the Divergence indicator on Panel 3 was originally a blue dot and not a blue diamond when I entered. Changing to diamond was another warning of choppiness.

I can see your point of having the market turned and back to our favor after our exit. For me (at least for now), having an exit is very important. I learned the hard way for not having it for my former trades. Thanks Eric.

Happy & Successful Trading Always!

Beth

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 Eric j 
NY
 
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I see , if you use a mechanical system like that then you need to determine in advance what variables call for cutting it short . In my experience the repaints are a slippery slope and its easy to agonize over it .

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Posts: 1,773 since Dec 2009
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Thanks Eric.

I am hoping that a mechanical system may catch a trade in a more efficient manner. Repaint may cause issues on-and-off and is part of the package I guess.

Looking at today's trade log again. I OVER-TRADED! 10+ trades is way too much in my mind. I believe I was trying to be Green for the day - oooooo!

I am going to include a new rule: Maximum 5 trades per morning! This will encourage me to focus on Higher Probability Trades + more cautious/selective!

Happy & Successful Trading Always!

Beth

~ Good Trading is About TRADING RIGHT! ~

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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I know some of you are interested in The Wizard's new set-up. Here it comes his thread with the indicators/templates/trading rules:



I will see if I need to revise my current set-ups.

Happy & Succcessful Trading!

Beth

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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I'm quite happy with today's trades even it's little "pink".

Goals accomplished:

1. Preserve precious capital. Got out of a trade when it's no longer working (with warning signals) and wait for another opportunity.

2. Stay with the Trend and no counter-trend trades.

Note: I have some strategies running (testing) and will have cut-and-paste logs for my YM trades.

Happy & Successful Trading!

Beth

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 wgreenie 
Cambridge, Ontario
 
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I SOH most of the morning and was patiently waiting for a high probability trade.

Goals Accomplished (proud to share):

1. Preserve Precious Capital - I practised not jumping into trades that did not align with the overall trend. When a trade did not work (with warnings), I got out breakeven.

2. Patience Patience Patience - The market was extremely slow and choppy this morning. Glad that I chose not to trade when there're no good signals!

Estimate that it's typical on a FOMC day!

Happy & Successful Trading!

Beth

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 wgreenie 
Cambridge, Ontario
 
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I compared The Wizard's new set-up with mine last night. Decided to replace the Trending chart with the new release. This morning I was learning to familiarize with the new charts (4- and 6-tick) incl minor modification. For example, toying with having the vertical lines (found them too busy on the 4-tick chart) and adding the DonMa dots to the 6-tick one (for placing MM order after entering a trade).

I still like the scalping set-up as I will be able to get in early and out with an intial 6-tick target. I now recalled why I was 99% profitable for the Jan sim-trade mornings, ie I followed the scalping set-up more and did get in-and-out swiftly. Paying attention to the overall trend does help me staying with overall trend. However, I missed out most first-time entry points and ended up too late to scalp.

I'm thinking if I should add the indicators (esp the ones on Panel 2 on the Scalp set-up + the hashes on Panel 1) to the new chart so that I have less charts. Or simply have both set-ups and stay with primarily the scalp signals for entry while using the Trending set-up to keep the 2nd contract run (which I did and was quite successful).

More re-grouping necessary today and will resume sim-trading tomorrow.

Happy & Successful Trading!

Beth

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  #34 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
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Trade Recap:

2 trades both aligned with the signals and systems I'm using. You will see that I waited until the signals on the scalp system were more aligned with the Trending set-up. I've marked the trades' entry/exit on both charts so you will understand why I did not get in sooner on the scalp system.

For the 2nd long trade, it was a 20-minute one. The market was very undecided and I did think of getting out at a 10-tick loss (more than once). However, the Trending system has kept me in + the signals on the 4-tick charts were moving to my favor.

This week (3 mornings) is a Green one with $25 nett after commission .. haha!

Goals Accomplished today and this week:

1. Preserve Precious Capital - Followed the signals that aligned with the Trend! Did 1-contract trades today because lots of choppiness.

2. Only Trade when there's a valid/high probability trade. No over-trade. I'm happy with 1-3 PROFITABLE trades per day LOL!

I also enclosed the 4 charts I'm using today. You will see the new set-up for the Trending system (incorporating the new/revised indicators of The Wizard). I sim-traded mostly 4-tick charts in January and really liked them. I switched to 6-tick charts in end Jan/early Feb when I found the 4-tick ones "seemed" a little too fast. After using the 6-tick ones for some weeks now, I realize my 4-tick preference.

Should I go with my preference? I believe it's important to feel comfortable with the systems I'm using. I like the systems and it's matter of tick interval! For 4-tick, I certainly need to focus more and act faster!

That's what I'm going to do next week. Move the 6-tick ones to the further left (as reference) and focus on the 4-tick ones as my main trading systems! I also would like to do 1 real trade per morning (only when there's a really great signal) while sim-trading until 11:00/11:30 am.

Thanks for visiting this thread and appreciate very much your support/comments.

Happy & Successful Trading Always! (+ a Wonderful weekend)

Beth

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,203 received

Goals Accomplished:

1. Preserve Precious Capital: Did mostly 1-contract trades as the market was very choppy/undecided this morning. I got warnings for most of the trades (as soon as I got in). Some MM got hit. For Trade #10, I did have 1-2 chances to get out B/E. Considering it's a 6-tick MM, I chose to stay in and let the trade work on its course.

2. # of Trades: 10 incl 2 2-contract trades. I over-traded even the cum L has not exceeded my daily $100. I will do my best to do mostly higher probability trades and SOH while waiting - on my to-be improved list!

3. I missed paying attention to Support/Resistance. More than twice I got trapped there.

It's green before commission and I will continue working on the "to-be improved" areas.

Happy & Successful Trading Always.

Beth

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  #36 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
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I followed the trading rules and stopped trading when the cum loss hit $100. Some of the trades had a very low risk (6 points for MM) and it's unfortunate that they got hit then reversed a little back. For one of them, I did think of moving the MM to below the Extreme O/S level so that it might not get hit. On a second thought, it's very important to be a disciplined trader following the trading rules. No one knows if moving it further will work or may simply get hit as well. I decided to follow the rule.

Goals Accomplished:

1. Discipline Discipline Discipline - following the trading rules.

2. Accept the fact/reality that there will be losing days and learn to manage them.

Happy & Successful Trading!

Beth

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 Dragon 
Bellingham, WA
 
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Hi Beth,
Do you mind showing your pnl from the day you started journaling here until now? I find the method interesting even though some days have been hit and miss. In addition, do you find yourself studying price action more with wizards setups or not? I found that in the last few days when I had some indicators up I did worse because I kept watching the divergences occurring all over the place. However, a handful of people here swear by the wizard's templates and are trading well with it. I would love to trade indicator signals all day long so I wouldn't have to think, heck doing it automated would be the bomb. It just hasn't worked for me yet. Thanks in advance.

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Posts: 1,773 since Dec 2009
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Hi Dragon

I started logging my sim result since Feb 8 after creating the thread the night before. Here it comes a quick recap on the trade results:

1st week Feb 8-12: -20

Feb 8 (245), Feb 9 (-135), Feb 10 (80), Feb 11 (140), Feb 12 (-350)

2nd week Feb 16-19: 25

Feb 16 (-55), Feb 17 (B/E), Feb 18 (Did not trade as I was working on revised set-ups), Feb 19 (80)

3rd week Feb 22-23 so far: -150

Feb 22 (-10), Feb 23 (-140)

You will see the performance summaries and trade logs on the daily posts. The Wizard's systems are Great. If one follows the rules diligently + catching the signals in a timely manner, he/she will be mostly profitable!

I sim-traded 2 slightly different set-ups (4-tick charts) in Jan and all trading mornings were green. I made $1,110 for the last week (Jan 25-29). I went live on Feb 1. The first 3 mornings were fine. I went crazy on Thu and Fri, ie not following trend, signals and trading rules. It's still a mystery to me. I've decided to resume sim-trading, work more on my psyche and develop a more disciplined/focussed trading attitude.

I like the scalping set-up because it provides more entry opportunities if I miss the first signal. I agree with you that more indicators do not help. First, they will keep us too occupied. Second, they conflict occasionally and we may end up missing some high probability trades. I am still learning.

Happy & Successful Trading!

Beth

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 Dragon 
Bellingham, WA
 
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Thanks Beth.

That first Friday in week 1 looked a lot like a Friday I had a couple weeks ago. I wonder if it was the same day. Anyway, I hope I didn't come across as too critical. I say that if you are using indicators and can be profitable, that is absolutely awesome.

You mentioned in previous posts that you wanted to work on exiting trades that moved quickly against your position. Then Eric replied that he would rather take a full stop or a near full stop in because his experience had been that price tended to move in the direction of his entries.

I am pretty conflicted on this. If you have a risk/reward ration of 1:1 then I could see how you wouldn't blow up over time. On the other hand, it's pretty hard to let price move and breathe with a 1:1 ratio. How are you doing on this?

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 wgreenie 
Cambridge, Ontario
 
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I am experimenting the ZigZag indicator this morning (added an audio alert to it). I hope it will help me get out of a trade earlier instead of waiting for the MM to get hit + alerting me to get ready for a trade.

Why I added an audio alert? I notice from the Market Replay that the golden dot was added at least 2 or sometimes 3 bars later from the "dot" bar. Still testing its effectiveness to help my trade management.

You will notice from my trade log that for 1-2 trades I entered a little early before the official signal (most of them had a "black hash" add-on after entry - which is not new to me anymore in this undecided market). Why? It's because I'm getting more familiar with the scalping set-up. For example,

- a red bar with a blue dot on Panel 1 (if the Sharfin indicator has a red horizontal line + red dot line is above 1), very likely the blue dot will turn to red 1-2 bars later when a short trade is on

- Same stays true for a blue bar with a red dot (most of the time anyway)

Since I cannot fix the dot/bar color change issue, I am now working on reading the pre-official signal (+ other indicators to confirm) so that I can catch a trade in a more timely manner and not 1-2 bars later when I feel like chasing.

Today is a Great day even it's -$15 before commission. Oh, I am extremely proud of myself on how I managed Trade #7. It's a runner in my mind as I chose to let it run a little and not cashing a quick 6-7 ticks (did have the Resistance level in mind). For Trades #9-10, I was fooled twice in a row ...

Goals Accomplished:

1. Always bear PPC in mind - I think it's ingrained in me now "finally" .. smile ..

2. Trade Management - Feel in more control and there're more to accomplish/improve of course (Note to Dragon: Hope the above address your question, ie I am learning not to have the MM get hit esp with 1 or more warnings. I side with the camp that there are always high probability trades waiting for us. Getting in-and-out is Fine!)

Happy & Successful Trading!

Beth

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 Dragon 
Bellingham, WA
 
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(Note to Dragon: Hope the above address your question, ie I am learning not to have the MM get hit esp with 1 or more warnings. I side with the camp that there are always high probability trades waiting for us. Getting in-and-out is Fine!)

I always forget that. Zeller taught me that (thanks!) There is always another bus...

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 wgreenie 
Cambridge, Ontario
 
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Early Report this morning as I did extremely well (in my mind) LOL!

Have captured my trade recap on the Trade Log.

Goals Accomplished:

1. Preserve Precious Capital (No 1 Priority) - I thanked the moderator on a daily recap that he reminded the subscribers regularly (yesterday again) that one should not let a winning trade become a losing one. I dreamed of his audio recap this morning and it stays with me today when I traded.

2. Trade Management - I did only 1 2-contract trade (first trade). The market has dropped over 100 points overnight and I feel more comfortable on doing 1-contract trades.

3. Readiness for a Potential Entry: Am glad that the audio alert has worked for me, ie alerting me to get ready for a Long or Short. I have a second or 2 to check most indicators before entry (if I decided to go with it).

Thank you for staying with me in my development. Happy & Successful Trading Always!

Beth

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 wgreenie 
Cambridge, Ontario
 
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Hi Everyone

I was too excited with strategy development and stayed up after 1:00 am. Not functioning this morning so far (not sure what I'm doing) + Ninja has kicked me out 3 times already.

I have my newly developed strategies (based on the scalping set-up) running on my backup computer and will take a day off from sim trading.

Take care and enjoy a Relaxing weekend. (For me, I would explore ways to improve my new babies, ie smaller MM and earlier exit etc to increase the profitable %.)

Beth

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 wgreenie 
Cambridge, Ontario
 
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Spent Fri and the weekend on developing/polishing more strategies. Enclosed is the latest version and I'm quite happy with it (improved from 55% to 66% profitable %). Have it + 2 other versions running this morning. Notice I need to work on "choppiness" and B/E. I think I have the B/E syntax and not sure how to have it triggered. If it's on, I believe it will realize some gains for trades that do not move far enough to hit the profit target. Still working ..

Hoping to capture most of the scalping set-up on a strategy. It will do a better job than me. When I watched my strategies running on live data this morning, the great signals got filled at the next bar open (which I seldom did because of the bar closing delay etc) and ran hitting the 25-tick target LOL!

Will start developing a strategy on the Trend set-up once I've the scalping one in good order.

For this thread, I will report my strategy development/backtesting progress and not sim trade results anymore.

Items on hand:

1. Learn how to minimize the choppiness impact on the strategy performance
2. Learn how to add a B/E condition to preserve precious capital + realize some baby gains
3. Find out how to get the required historical data for backtesting (so that I can test the March contract for a year or so) (Tried merge historical data, got frozen for over an hour .. sigh ..)

I am a super-mega newbie to strategy (never imagined before that I can create a simple one). Welcome any ideas and suggestions simple for me to understand. Oh, I've been using Ninja Wizard to create my strategies - it gave me ideas on the syntax since I do not know the language. Lots to learn and I enjoy the challenge so far.

Happy & Successful Trading Always.

Beth

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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I might have enclosed a wrong template in my earlier post #17. Here it comes the one I am using right now. Enjoy!

Beth

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 wgreenie 
Cambridge, Ontario
 
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Hi Everyone

I just created a new thread The Wizard Method (automated) as follows:



After giving birth to another 20 revised strategies for the past 2 days, I still cannot make the B/E filters get triggered! Maybe the new thread will attract some members to work with me. I will continue exploring and doing my very best!

My heartfelt thanks again for your support/encouragement.

Beth (Lack of zozozo for some nights now ..)

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 exiledgoblin 
Toronto, ON
 
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Hi Beth,

What version of the d9ParticleOscillator are you using on this chart (or what are the settings that achieve the effects I see)?

Thanks you!

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  #48 (permalink)
 wgreenie 
Cambridge, Ontario
 
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exiledgoblin View Post
Hi Beth,

What version of the d9ParticleOscillator are you using on this chart (or what are the settings that achieve the effects I see)?

Thanks you!

Sorry for a belated response. I'm using the one with Vertical line per enclosed.

Note to Big Mike: I know you want the goodies to be centralized in the Download section. d9 has quite a few versions and it's very challenging to find the one in question. Hope you will forgive me!

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 Big Mike 
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wgreenie View Post
Sorry for a belated response. I'm using the one with Vertical line per enclosed.

Note to Big Mike: I know you want the goodies to be centralized in the Download section. d9 has quite a few versions and it's very challenging to find the one in question. Hope you will forgive me!

Actually no

I deleted the attachment just now, the d9particle oscillator is an Elite-only indicator, this thread is in the normal forum.

Please remember to keep Elite-only indicators in Elite-only threads.

As for versioning, yes, there are a lot of d9's out there floating around, I understand.

Mike

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 exiledgoblin 
Toronto, ON
 
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Much obliged Beth. Thank you! I am an elite member so I can find what I need as long as I know what I'm looking for.

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stuart123
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im a newbie too and trade es. Would you be kind enough to tell me some of the indicators and rules u use. much appreciated

 
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 wgreenie 
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Big Mike View Post
Actually no

I deleted the attachment just now, the d9particle oscillator is an Elite-only indicator, this thread is in the normal forum.

Please remember to keep Elite-only indicators in Elite-only threads.

Sorry Big Mike it slipped out of my mind!

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 wgreenie 
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stuart123 View Post
im a newbie too and trade es. Would you be kind enough to tell me some of the indicators and rules u use. much appreciated

Yes Stuart. Newbie me has shared my trading rules and tips on Posts #5 and #10 on page 1. One MUST know his/her trading system well PLUS bearing the following in mind 1,000,000,...% ALL THE TIME:

1. Preserve Precious Capital
2. Sit on hands (SOH) when there're NO high probability trades
3. Do NOT over-trade
4. Be a well-disciplined and focussed trader

Hope you get a chance to read the High Probability Trading book by Marcel Link. If not, you may private message me with your email and I will email it over!

Good luck and Happy & Successful Trading!

Beth

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 cory 
the coin hunter
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wgreenie View Post
Hi Everyone...
I still cannot make the B/E filters get triggered! ..

how about -1 tick filter.

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 wgreenie 
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Hi Cory

I succeeded in having the BE triggered when the trade moves 8 tick (predetermined) away. Unfortunately, no luck so far for a trail code to work after almost 3 weeks now .. I got a Ninja sample strategy with a trail code last Fri. Spent the whole weekend trying to have it triggered (only changed its entry condition) and still not working even some trades met all the predetermined conditions incl breakEvenTicks, trailProfitTrigger, and trailStepTicks etc etc.

I'm doomed! Having said that, I will continue my "fruitless" search. Maybe somehow someday it will bloom!!

Beth

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 Pava 
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in system such as this one fixed stop will work better

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stuart123
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thanks for replying. i was wondering if the wizard setups are on public forum or is it in elite section

 
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 wgreenie 
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Hi Stuart

Type The Wizard in the Search field and you will find his 2 threads with the most recent one as follows:



Note: His first thread named Holy Grail.

You will find most of his indicators in the public forum except d9 (Elite Circle). He is not using it in his new system. The Wizard has been very helpful and responsive. Please feel free to share your questions in his thread if you need any clarification on his systems/indicators.

I received your private message and cannot locate your email. Please PM again with your email in the text. Thanks.

Beth

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 wgreenie 
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Hi

Enclosed is the newest set-up I'm using for my strategy development and discretionary trading. For sim-trade manually, not sure if I will switch back to 4-MedianRenko and will compare them later this week.

I modified the d9 indicator a little. An audio alert when the Prediction trend crossabove 1 or crossbelow -1 in case I "zozozo" off after waiting patiently for a signal LOL! Big Mike's futures.io (formerly BMT) Envelope Expansion base line (blue dotted line) will help minimize counter-trend trades. Long only when the price bar is above the blue dotted line or Short only when it's below it. The red and green dots on the MACD BB indicator will help as well. Last but not least, the magenta and blue round DonMA dots will give me an idea where to place the MM order.

Still working on automation. Will have 4 running tomorrow. Plan to resume sim-trading (discretionary method) next week as automation will take some time. Listen to trading hypnosis scripts + EFT (Emotion Freedom Technique - tapping) will tame my emotion and I will be steps closer to become a disciplined and focussed trader!! Wish me luck.

You will hear from me soooooooooon! Smile.

Happy & Successful Trading!

Beth

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 exiledgoblin 
Toronto, ON
 
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wgreenie View Post
Hi

Enclosed is the newest set-up I'm using for my strategy development and discretionary trading. For sim-trade manually, not sure if I will switch back to 4-MedianRenko and will compare them later this week.

I modified the d9 indicator a little. An audio alert when the Prediction trend crossabove 1 or crossbelow -1 in case I "zozozo" off after waiting patiently for a signal LOL! Big Mike's futures.io (formerly BMT) Envelope Expansion base line (blue dotted line) will help minimize counter-trend trades. Long only when the price bar is above the blue dotted line or Short only when it's below it. The red and green dots on the MACD BB indicator will help as well. Last but not least, the magenta and blue round DonMA dots will give me an idea where to place the MM order.

Still working on automation. Will have 4 running tomorrow. Plan to resume sim-trading (discretionary method) next week as automation will take some time. Listen to trading hypnosis scripts + EFT (Emotion Freedom Technique - tapping) will tame my emotion and I will be steps closer to become a disciplined and focussed trader!! Wish me luck.

You will hear from me soooooooooon! Smile.

Happy & Successful Trading!

Beth

Hi Beth,

What are your settings for the MACDBB Lines indicator? Do you only have the MACDBB in that panel?

Thanks!

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 wgreenie 
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exiledgoblin View Post
What are your settings for the MACDBB Lines indicator? Do you only have the MACDBB in that panel?

I used the default setting, ie

Fast 12
Period 10
Slow 26
Smooth 5
StDev 1

MACD BB is the only indicator on Panel 2. Here it comes to save your searching the NJ forum.

Beth

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 wgreenie 
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Hi Everyone

Believe you have had a nice weekend. Mine was a fruitful one. I created some strategies that will trigger an audio alert when the predetermined indicators align at the same time. Remember my eyes are a little slow so the audio alert will help LOL! Then I spent some hours doing market replay .. My hands and "head" need practice .

You can tell from the enclosed that I tried to combine The Wizard's set-up with KwikPop (KP). From the strategy development thread (which was a very good experience), I can tell The Wizard's set-up works better for YM and not ES. Considering my former experience with KP, its set-up is for ES though it cannot safeguard whipsaws. Now with the ADXVMA and d9 indicators, I should be able to minimize some choppy ES trades. Plus again the audio alert will help my "slow" eyes .. haha ..

I will do more market replay later today and start sim-trading them tomorrow. Wish me LUCK! Thank You.

Happy & Successful Trading!

Beth

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 exiledgoblin 
Toronto, ON
 
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wgreenie View Post
Hi Everyone

Believe you have had a nice weekend. Mine was a fruitful one. I created some strategies that will trigger an audio alert when the predetermined indicators align at the same time. Remember my eyes are a little slow so the audio alert will help LOL! Then I spent some hours doing market replay .. My hands and "head" need practice .

You can tell from the enclosed that I tried to combine The Wizard's set-up with KwikPop (KP). From the strategy development thread (which was a very good experience), I can tell The Wizard's set-up works better for YM and not ES. Considering my former experience with KP, its set-up is for ES though it cannot safeguard whipsaws. Now with the ADXVMA and d9 indicators, I should be able to minimize some choppy ES trades. Plus again the audio alert will help my "slow" eyes .. haha ..

I will do more market replay later today and start sim-trading them tomorrow. Wish me LUCK! Thank You.

Happy & Successful Trading!

Beth

Hi Beth,

Excuse the illiterate question but how did you get audio alerts for multiple indicator confluence? Did you write a strategy or a super-signal or what? Can you post your template?

Thank you!

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 wgreenie 
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Yes, I created some strategies with the audio alerts. The following (for YM) captures The Wizard's Long set-up (blue price bar + DonMA, EMA and ADXVMA all blue) plus I add the d9 RawTrend indicator to increase the winning %:

 
Code
if (High[0]>High[1] && DonMA(7).MARising[0]>0
&& EMA_Colors_Paint_v01(30, 60, 7).EMAup[0]>0
&& ADXVMA_WizMod(2, true).Rising[0]>0
&& (CrossAbove(d9ParticleOscillatorWVertLineR(7, 0).RawTrend, 1,3))) 
{
PlaySound(@"C:\Program Files\NinjaTrader 6.5\sounds\d9long.wav");
}
Instead of entering into a trade, I ask the strategy to play the d9long.wav file.

Note: I've found a very cool website that you can create audio files (.wav) with any wordings you want plus you can choose the gender/accent etc. Simply move the files to the sound folder.

AT&T Labs Natural Voices Text-to-Speech Demo

Enclosed is The Wizard's template. Enjoy!

Beth

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 wgreenie 
Cambridge, Ontario
 
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I've captured my learning in the enclosed Trade Log.

Goals Accomplished:

1. Preserve Precious Capital most of the morning. I felt a little under-achieved for Trade Nos 7 and 12. For Trade No 12 (after preparing the log), I just realized I missed the white ADXVMA warning dots!! Else quite satisfied with the result even a little pinky!

2. Modified the audio strategy a few more times this morning. For example,

i. d9 RawTrend crossover 0.05/-0.05 (from 0.15) for Long and Short entry
ii. d9 RawTrend crossover 0 as an exit warning (this will help when a trade does not work)

I believe I will stay with the most updated one for this week.

Next Move:

1. Need to find a way to minimize the audio noises. I have 4 strategies running (generate lots of order filled, order pending and order cancelled etc), 1 audio strategy on YM and 1 audio strategy on ES. Sometimes they clashed and I missed a few ES alert entries this morning. I may not activate the YM audio one tomorrow though it won't help substantially. Will figure out.

2. Maximum No of trades: 3 trades and/or maximum 6 contracts. That's what I followed when I market replayed last weekend. I will resume following this practice and this will safeguard over-trade!

3. Learn to act SMART when there's a warning and I am in a trade. Ample room to improve here .. haha ..

++

Will be quite occupied with non-trading tasks now, eg trying a new recipe on baking some mango, pineapple, orange and papaya muffins and laundry time .. smile ..

Happy & Successful Trading!

Beth

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 wgreenie 
Cambridge, Ontario
 
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I have not included the KP templates (for 7500 and 3350 volume charts) as you will need the KP indicators. I am unable to create an audio strategy on the KP signals as the indicators are not in the NJ indicators folder + they do not have any plots .. sigh ..

Instead, I created an audio strategy on the 2UP/2DOWN requirement (price closes above or below the upper and lower Bollinger band), d9 RawTrend crossabove/crossbelow 1 and no ADXVMA chop warning. When I hear an audio alert, I will also pay attention to the indicators on the bottom, ie all or most blue or red before entry.

No audio strategy for the 7500 volume chart as it's for trending only. Hope the above helps. Thank you.

Beth

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 nanobiotech 
Brisbane, Australia
 
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wgreenie View Post
Yes, I created some strategies with the audio alerts. The following (for YM) captures The Wizard's Long set-up (blue price bar + DonMA, EMA and ADXVMA all blue) plus I add the d9 RawTrend indicator to increase the winning %:

 
Code
if (High[0]>High[1] && DonMA(7).MARising[0]>0
&& EMA_Colors_Paint_v01(30, 60, 7).EMAup[0]>0
&& ADXVMA_WizMod(2, true).Rising[0]>0
&& (CrossAbove(d9ParticleOscillatorWVertLineR(7, 0).RawTrend, 1,3))) 
{
PlaySound(@"C:\Program Files\NinjaTrader 6.5\sounds\d9long.wav");
}
Instead of entering into a trade, I ask the strategy to play the d9long.wav file.

Note: I've found a very cool website that you can create audio files (.wav) with any wordings you want plus you can choose the gender/accent etc. Simply move the files to the sound folder.

AT&T Labs Natural Voices Text-to-Speech Demo

Enclosed is The Wizard's template. Enjoy!

Beth

Beth, that's a really cool site. I had so much fun typing in funny things for the voice to recite back

Cheers,
Nano

 
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 wgreenie 
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nanobiotech View Post
I had so much fun typing in funny things for the voice to recite back

Glad that you have FUN Nano!

I've used it to create special messages for my Lovely hubby too .. haha ..

Beth

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 exiledgoblin 
Toronto, ON
 
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Much obliged Beth. You're very helpful. May the market gods smile on you!

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  #70 (permalink)
 wgreenie 
Cambridge, Ontario
 
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I have decided to follow the Best Trading Hours (morning session), ie

9:43 am | 10:14 am | 10:32 am | 11:00 am

Certainly fingers were a little itchy when the market was moving up at open. Then SOH bearing in mind that the Chicago Sentiment and Factory Order announcements at 9:45 am and 10:00 am would move the market. You will notice from the enclosed that a Short + a Long happened around these 2 annoucements. Well, felt sorry for missing both trades though it's better to avoid trading around news!

There's a good short signal at 10:41 and I missed it. I really missed this because I was occupied with another project (creating an on-line store for my organic products)!! Being too "diversified" may not be a good thing ooo

Soooooo, no trades this morning.

What I learned:

1. Focus Focus Focus during the specified trading hours. For me, will be between 9:30 am and 11:00 am (even I will mostly consider the first trade after 9:40 am).

2. The additional warning audio alert (with the d9 RawTrend crossabove/crossbelow 0) is great IF I am in a trade.

3. The entry audio alert does help. Great signals esp when the lime and aqua lines on the 7500 volume chart crossover. Too bad I can't program the crossover. Will count on my eyes on the same when I hear an entry alert.

Enjoy your day. Will be back tomorrow .. smile ..

Beth

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 wgreenie 
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I'm very lucky to have guidance of The Wizard, Jeff (creator of All You Need thread) and Big Mike.

Believe Jeff won't mind sharing the following here as well:

Essentially the day can be divided into three parts....the times to NOT trade are right at the open (this is known as "clearing" of accumulated orders that are being filled at the open)....going into the close ( this is when the ETF's and other money managers need to get their orders filled before the end of the cash session last 15 minutes)....... lunch is usually not good due to lack of volume and last but not least is "Grim Reaper" this is between 11:30-12:00 PST ( the bond market closes at 12:00 PST and big money managers are moving $ between indexes and bonds...this can cause erratic market behavior.

Sometimes there will be good moves when it is usually not a good time to trade.....don't worry about missing these moves they are the exception NOT the rule.

If I were you I would examine my trades and see if any losses could have been avoided by only trading at the optimal time of day.

Also, I would make sure you have the Economic News indicator on your chart......it's a good reminder of news events. It's a good idea to stay clear of major news......both before and after the news release.....around 10-15 minutes each side of news is about right.

Unquote

Beth

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 cory 
the coin hunter
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wgreenie View Post
I have decided to follow the Best Trading Hours (morning session), ie

9:43 am | 10:14 am | 10:32 am | 11:00 am

...
3. The entry audio alert does help. Great signals esp when the lime and aqua lines on the 7500 volume chart crossover. Too bad I can't program the crossover. Will count on my eyes on the same when I hear an entry alert.

Enjoy your day. Will be back tomorrow .. smile ..

Beth

I tried my hand at MAs cross alert before, here is the result.

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  #73 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Believe it or not .. I do have a daily game plan for ES .. haha ..

Position Size: 2 contracts per trade most of the time

No of Trades: 3 trades and/or 6 contracts

Trading Time: 9:30 am to 11:00 am (+/- 15 minutes)

Initial Target: 3-4 ticks for the 1st contract and let the 2nd contract run (move MM to BE after hitting the 1st target). If the trading range is very narrow, may exit the 2nd contract at 6-8 ticks. Never let a winner become a loser!

Initial MM: 6 ticks. I quite often move it to 4 ticks after checking the previous price bars + S/R. Strive NOT to have MM get hit!

Early Exit: Yellow bar, ADXVMA white choppy dot and d9 trend reversal etc. After checking the KP indicators, may try to exit BE or 1-2 ticks from entry. If most indicators are still aligned with the trend, may choose to stay in longer.

Other Trading Rules: Stop with PT @$300 or MM @-$150 or after 2 consecutive losing trades (applicable to real $ trades)

Preserve Precious Capital is the No 1 priority item on my trading list + there are always high probability trades waiting. I used to be too anxious to be in a trade OR stay too long in a losing one. No more ..

Happy & Successful Trading Always!

Beth

~ Trading is NOT about being right. It's about Trading RIGHT! ~

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 Big Mike 
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Beth,

Excellent job on covering the details of your plan. Also great job in identifying that it is equally important (in fact, probably much more important) to identify when NOT to trade than when TO trade.

Now you've simply got to execute on your plan. Take it slowly. Each day you naturally want to execute on your entire plan to the best of your abilities, but I find that in the beginning you can really focus your thoughts and have better success by narrowing in on just one or two key aspects of your plan, and tell yourself "no matter what, I will make sure I do these two things". Rinse, repeat - for a week or so at a time, then add another one or two to the list.

Good job and I look forward to you sharing how it is going.

Mike

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 wgreenie 
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cory View Post
I tried my hand at MAs cross alert before, here is the result.

Thanks Cory for sharing your MA alert with me. I added the 2 MAs to the 7500 volume chart. Their crossovers have been very close to the KP one. Good news! Thank You!

Funny that when I tried to activate your strategy on the volume chart, it's not on the list. I can edit it and F5 compile successful. It's listed on the Strategy folder and yet I cannot locate it for activation on a chart?!! I did a quick strategy, ie creating a simple crossabove/crossbelow of the 2 SMAs. Will email NJ CS to find out why I can't find your sophisticated one.

Thank you again Cory!

Beth

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 Big Mike 
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wgreenie View Post
Thanks Cory for sharing your MA alert with me. I added the 2 MAs to the 7500 volume chart. Their crossovers have been very close to the KP one. Good news! Thank You!

Funny that when I tried to activate your strategy on the volume chart, it's not on the list. I can edit it and F5 compile successful. It's listed on the Strategy folder and yet I cannot locate it for activation on a chart?!! I did a quick strategy, ie creating a simple crossabove/crossbelow of the 2 SMAs. Will email NJ CS to find out why I can't find your sophisticated one.

Thank you again Cory!

Beth

Check the top of the indicator list, some people put a " " (space) before the name so it is at the very top. Also, NT7 had some bugs with escaping special chars in the description (not sure if it ever got fixed), so if there is a dash or colon in the description it caused the name to be blank in the indicator list.

Mike

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 wgreenie 
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Big Mike View Post
Take it slowly. Each day you naturally want to execute on your entire plan to the best of your abilities, but I find that in the beginning you can really focus your thoughts and have better success by narrowing in on just one or two key aspects of your plan, and tell yourself "no matter what, I will make sure I do these two things". Rinse, repeat - for a week or so at a time, then add another one or two to the list.

Thank you Big Mike for your kind encouragement and suggestion. Yes, I will focus on 1-2 key aspects and they will be:

1. Preserve Precious Capital (esp when a trade does not look good anymore after entry, I would like to manage it to my satisfaction and can successfully exit BE or 1-2 ticks)

2. Decide when to trade and when NOT to trade. Maximun No of trades and contracts per day is not set on stone. It's fine if there're no good signals and I will SOH while waiting for a great signal.

Note: Emotion is my biggest enemy. Trading in real had turned me to a "monster" that I did not recognize myself. People said public speaking is the No 1 fear for most. I spoke in front of close to 1,000 people ... so I may be able to fix this emotion "monster" in me .. Wish me luck .. haha ..

Will get ready for my sim-trade session now.

Beth

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 wgreenie 
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Big Mike View Post
Check the top of the indicator list, some people put a " " (space) before the name so it is at the very top. Also, NT7 had some bugs with escaping special chars in the description (not sure if it ever got fixed), so if there is a dash or colon in the description it caused the name to be blank in the indicator list.

Mike

Thanks Mike. Yes, I went through the list at least 20 times and Cory's one is not there. I am going to ask my lovely hubby to go through the list for me this morning. His eyes are a little bigger (2 pairs with the assistance of his glasses) and may do the trick. Else I will email NJ CS shortly.

Thank You!

Beth

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 wgreenie 
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Have captured my post-trade comments on the enclosed trade log. The first long trade @9:45 am was a good one, ie 4 ticks PT got hit. I tried to get in twice and Mr Market did not fill me ooooo. Is it always the ones we did not get in ended up Profitable?!!!

Goals Accomplished:

1. Followed the NO overtrade rule and stopped after max 3 trades.

2. Exited the 2nd trade (Trade No 14) at a reasonable timing after the first one. Note: The first one (a 10-minute trade) was scary because I experienced what I did extremely bad in real life and was doing it again even it's sim trade! I simply don't like the "losing" idea which I MUST ACCEPT for trading.

Lessons Learned:

1. When the trading range is too narrow (say for ES a 2-3 points range), may consider taking the day off. Not even SOH?!!

2. It's fine to do 1-contract trades. I have friends telling me a thousand times that doing 1-contract trades is the dumbist thing to do. As a newbie, my personal experience has told me that 1-contract trades are fine as long as we manage them well. What's the point of doing multiple-contract trades if they affect our psyche or one is not ready?!! Well, no one knows how I feel ..

How to move forward:

1. I need to check my hypnosis script folder. Believe there's one on losing trades. A healthier approach will be: Cut losers small with winners exceed the losing ones! The most successful traders may have losing days and losing trades. It's part of the game LOL!

2. Prepare a new cute card with NO COUNTER-TREND TRADES. I need to have it in front of my nose/eyes .. haha ..

Wishing you all a Great Easter weekend.

Beth

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 wgreenie 
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My hubby is unable to find Cory's strategy though he pointed out there's one named "SampleMACrossover". Not sure if it clashes with Cory's. Just emailed NJ CS and will keep you posted of any further development.

You will notice the trade log started with No 13 because I have 4 YM strategies running (testing). At least they were together else I will need to do more cut-and-paste.

Thank you and enjoy your day.

Beth

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If you are referring to post #72, its an indicator not a strategy.

Mike

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 wgreenie 
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Big Mike View Post
If you are referring to post #72, its an indicator not a strategy.

Mike

Now we know one can edit an indicator as if it's a strategy. NJ allows it - gosh!

Big Big Thank You to Big Mike and case CLOSED.

Beth

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 cory 
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If you are referring to post #72, its an indicator not a strategy.

Mike

all along I though she had turned it into a strategy and can not find it.

 
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 wgreenie 
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cory View Post
all along I though she had turned it into a strategy and can not find it.

Yes Cory. You got the first part right, ie I turned it into a strategy BECAUSE I cannot find yours when I tried to activate it on a chart LOL! I was under the illusion that yours was a strategy and NJ gave me Compile Successful message when I had your indicator in the Strategy folder. Too bad that indicators and strategies have the same "cs" extension.

Thanks again for sharing your indicator alert with me. It definitely works well for me .. haha ..

Beth

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 tomasito 
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Firstly, you're doing well in a short time, especially in examining your trades and method adjusting and learning. I looked at the 'wizard's' chart setup from your link and noted that he trades the TF, which I think is difficult to equate to the YM; it's thinner and more volatile and might have a $1000 range on a given day, or did, and can be hinkey to use a little known technical term (at least out-pacing most commonly traded emini instruments). I would personally triple the time frame chart that you use for YM market direction and double the short term. I don't mean that you should just go and do that because someone who likes to give advice says so, someone whom you don't know from a hole in the wall. I just think that you are limiting the potential of your trades. To make money you would really have to up your size and reduce commissions by half. Mike would know better, but I found Renko charts consumed a lot of processing potential and if you trade on the same machine it could reduce your edge greatly when trying to hit a price with a limit order.

Scalping can happen on 5 or 15 min charts if you know the structure of the market and some other components of market development. I use Market Profile essentially. It doesn't mean that I am an MP Trader per say. I use volume, and other things such as the Dollar Index and other instruments for reference. I do like reading the journals here and still use NinjaTrader along with MarketDelta.

That aside I see that you like to trade the open and whatever follows out of that, which is great. If you can get yourself in at the right time. Often, say 3 days a week, you can get 3 or so handles depending on volatility. You might have to enter a second time but that's fine. I want to say again that you're doing well. Women, so I've read recently in articles about brain research, are wired to be more analytical and discerning. Sometimes aggressiveness counts but you're probably better off leaning the other way. That said I always liked tough who aren't afraid drive fast and straight into the oncoming headlights! I'll save that story for another blog ~(:

If you pay attention to the news then pay attention Mon, April 5th, the cash market was closed today and there is likely to be a delayed reaction when it reopens.

Best of Luck!

T.

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 wgreenie 
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tomasito View Post
Scalping can happen on 5 or 15 min charts if you know the structure of the market and some other components of market development.

Women, so I've read recently in articles about brain research, are wired to be more analytical and discerning. Sometimes aggressiveness counts but you're probably better off leaning the other way. That said I always liked tough who aren't afraid drive fast and straight into the oncoming headlights! I'll save that story for another blog ~(:

Thanks T for your kind encouragement and suggestion!I can assure you that you are NOT someone from a hole in the wall. I appreciate very much your time and efforts in sharing your experiences with me (us)!

When I used the Chaos (up/down fractal breakout), I had several minute-charts in front of me incl a 15-min one for trending (+ hourly) and a 5-min one for entry (+ 1-min and 133-tick). Using The Wizard's set-up, I used 4- and 6-MedianRenko charts. Now I know I should consider triple and double them to enhance their effectiveness. Thank you.

Between ES and YM, I prefer ES because of its volume + seemed not as easily manipulated like YM. There're times that YM could be up and down substantially within milliseconds. I was trapped there a few times. Having said that, seemed The Wizard's systems work better for YM and not ES. Maybe if I explore more on adjusting the timeframes, they will work well for ES too.

Have resumed manual sim-trade last week (after weeks of automation). I am now using 7500 and 3350 volume charts - based on KP which is a 70% profitable system. After months of learning/research, I would like to focus on practice now esp money management and taming my emotion!

I'm not sure if I'm analytical and/or aggressive. Some opine that I am both because I'm extremely organized and swift. I personally don't think I'm analytical and have to admit that patience has not been in my system until my relocation to this small city.

The first few weeks were very challenging. Struggled literally with the Internet everyday and still do though have adjusted myself. What's the point of frustration when it's simply not working?! I was trying to create a simple on-line store for my organic stocks since last week. It took me 6-8 hours everyday just to upload 1 page successfully and sometimes not even one. After days/nights of labor, I finally completed it last night (still with some font bugs to be fixed).

Back to trading, I'm definitely trained to be more patient now. Yet I couldn't help feeling a little sad and helpless when future looked a little dim.

I want you to know: Your post has LIFTED me up substantially! I will continue my quest of excellence in developing a Successful Life-time Trading Career!

Beth (grateful)

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 tomasito 
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ES is 'manipulated' and it is important to know that. It's used more often by institutions and SP pit traders, or big money--take a trial with Trader's Audio or other 'Live from the Pits' service, and they will often point out what's going on and why. Also, watch for anomalies--like long and short squeezes; increasing prices as breadth is moving lower; TF, YM, NQ not staying in line, etc. There are other 'tells' that can give you a heads up. I also trade other markets such as gold, euro (6E), etc. The markets will change over time so you will also. The 30 yr bonds weren't shy on Friday following the number, moving a full handle--part of that was cleaning house or clearing stops. Some traders had a great day and others not so good. There are various ways of keeping track of volatility which might help you (see Dr. Brett's blog or twitter feed). It can help you adjust your expectations. If our average daily range (10 day ATR is one example) starts moving up you can expand your expectations for holding your runners.

Sorry if I make it seem overwhelming. You can't learn everything at once therefor must proceed in a straight forward logical fashion.

It's all good. t

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 wgreenie 
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tomasito View Post
... Sorry if I make it seem overwhelming. You can't learn everything at once therefor must proceed in a straight forward logical fashion.

It's all good. t

My heartfelt thanks T for sharing more wisdom with me! I will learn to proceed in a straight forward logical manner. Will check out Dr Brett's blog.

May start with walking straight too .. smile .. My hubby always teases me I'm a fish .. jumping here and there LOL!

Thank You .. Thank You a thousand times again.

Beth

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 wgreenie 
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BE this morning and gave $15 commission to my broker!

Goals Accomplished:

1. More willing to close a trade when it did not look positive with warning signals. My exit alerts (such as d9 crossover 0 and door bell sound) are great as they continue "bugging" me.

2. No Over-trade. When it's getting close to the 10:00 am announcements, I left my trading station and did juicing .. haha .. I mentally reminded myself a few times SOH and bear the overall UP trend in mind. After reviewing today's trades, I might have made a counter-trend trade (the 3rd Short trade) even all indicators were red?!!

Will learn to be a SMART trader!

Enjoy your day.

Beth

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 Alinghy 
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wgreenie View Post
BE this morning and gave $15 commission to my broker!

Goals Accomplished:

1. More willing to close a trade when it did not look positive with warning signals. My exit alerts (such as d9 crossover 0 and door bell sound) are great as they continue "bugging" me.

2. No Over-trade. When it's getting close to the 10:00 am announcements, I left my trading station and did juicing .. haha .. I mentally reminded myself a few times SOH and bear the overall UP trend in mind. After reviewing today's trades, I might have made a counter-trend trade (the 3rd Short trade) even all indicators were red?!!

Will learn to be a SMART trader!

Enjoy your day.

Beth

Hi Beth,

If I am right you also dropped into the KWIK-POP indicators series ....

Do you like them ? Do you find them useful ? What do you think generally speaking about them ?

Thanks to let me know
Alinghy

 
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 wgreenie 
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Alinghy View Post
If I am right you also dropped into the KWIK-POP indicators series ....

Do you like them ? Do you find them useful ? What do you think generally speaking about them ?

Hi Alinghy

I attended a KP Open House in Nov. Studied their training materials several times and attended their regular chatroom's review sessions for some weeks. Really like the system BECAUSE I know what I'm doing and can spot trading signals on my own. I particularly like the following trading rules:

1. an initial 4-tick target should be hit within 3 minutes, else get out
2. exit BE or 1-2 ticks to the market with a warning such as yellow price bar or price enters back to the bollinger
3. A900/AutoStop crossover (lime/aqua lines on the 7500 volume chart) may signal a great trade esp when price close above or below the lime line
4. Yellow bar with red or blue dot on 7500 volume chart - get ready for a trade (2UP/2DOWN) on the 3350 volume chart

Unfortunately, the system cannot safeguard choppy trades - same for most. Now that I have bells/whistles alerting me "loud and clear", I stand a better chance in having more winners and minimal "baby" losers! Like I said many times, money management + emotion taming for me are the keys!

Oh, regular subscription to their indicators (not 1-time fee) is not appealing.

Beth

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 Alinghy 
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Hi Beth,

thanks for your reply . Hope you spent a good Easter !

Just a simple suggestion: when you look at a "system" like the one above mentioned all seems very clear and basically simple, BUT but I invite you to look at any chart witha lot of entry / exit signals to go back using the arrow pointer of the mouse for i.e. half a day ....then discover click after click the charts evolution and relates signals and you'll see that ALL what seemed so easy to see having a "global" evidence of the day trading ( where it is so easy to say ...ok that is a good entry point ...ok that a good exit point ...ok that entry worth more than only 1 lot ... and so & so etc .... ) will not show the same impression if you roll the chart click by click, and worse you'll see that more than one entry, I dont care long or short, will reveal not profitable or more than dangerous considering the reaction timing of a normal person and leaving behind that your order could be accepted and also finally executed .

This just not to teach something to You or all Fellows in this valuable Forum, but to avoid any mislead that for people selling this kind of "coloured gaming utilities" often "stolen code" from Forum like this one where people research and share for free it own knoledge without any money profit, but just for the pleasure to share knowledge, itemize money .

This is not directed to a specific products but to many products available on the Market to pull money out of the pocket of many newbies with a low profile investment & commitment for these companies.

Do y ou know how many times I saw chatrooms and a "guru" calls in the market without a real report, without an arrow pointer that shows exactly where the call is placed, but with an heavy advertising campaign bla... bla...bla showing fantastic results .

Hope I have been clear enough

Cheers and Regards
Alinghy

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 wgreenie 
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Alinghy View Post
Do y ou know how many times I saw a "guru" calls in the market without a real report, without a arrow pointer that shows exactly where the call is placed, but with an heavy advertising campaign bla... bla...bla showing fantastic results .

Thanks Alinghy for sharing your experiences and observation with us. Newbies (incl me) certainly benefit from you. Yes, there're tons of service providers aiming at our pockets and not really being genuine. Some did exactly what you said in their day trading room, ie after a good trade, then asked "Did you get a piece of it?". Some never ever showed their trade log/account.

Regarding KP, they're quite genuine (I'll give them an 8 out of 10). Their review session (3 times a week I believe) covers the morning trades (both good and bad). There're mornings when all trades were choppy and whoever followed the signals 100% would have a losing day. They would not hide them and/or gave reasons to justify.

Having said that, whoever located the Big Mike Forum are very lucky (incl me of course). They have access to tons of amazing indicators and systems FREE + sharing the talented members' expertise.

Once settled with a system (very important I find, ie comfortable with the signals and trading rules), money management and trading discipline will make a big difference!

Happy & Successful Trading Always!

Beth

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 Alinghy 
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Thanks Beth,

I appreciate your answer. I know people you mentioned and I f they are less worse than others, to semplify I address you a simple question :

why they didn't keep open, anymore, the chat option to can directly contact among the participants to the room ? Think and let me know ...

Or the other Company that drive the chat room answering ipothetical question received from participant that are not shown in the list neither the questions themselves ...

My final idea is : one of the most difficult activity in the world . Why ? you must have almost 1 good Pc (better 2 or 3) and very very good data Feed (I have ZENfire I think one of the very best, almost for what delivers !), good internet connectivity DSL or other type, but working at the best of actual "state of the art", infinite knowledge ...... solid nerves...what else ? There are Platforms not working properly, with error coding inside, displaying data that are not right, what else ?? much more .

I dont know what the right answer could be !

@ BIG MIKE

I' d like you post a chart for an instrument, I dont care about wich one, provided and featured with all the indicators you consider reliable and unavoidable settled-up in the best manner possible for your opinion and experience .

I say that because I saw lots of indicators, also extremely attractive, but finally crossing over the graphical dress, are they, at the end, all reliable on good level ??

I meant: is this exasperated exercise finally useful compared with the need to obtain the best entry point, because I am sorry to say that, it is my impression that most of the indicators are only good for coloring the screen.

I dont know what could be your answer, but I wait to read it carefully .

Best regards
Alinghy

 
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 Big Mike 
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Alinghy View Post
@ BIG MIKE

I' d like you post a chart for an instrument, I dont care about wich one, provided and featured with all the indicators you consider reliable and unavoidable settled-up in the best manner possible for your opinion and experience .

This is Beth's thread. But such a chart does not exist. The best chart is one with no indicators whatsoever and you learn how to trade based on price action only.

Mike

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 Alinghy 
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Thanks to Beth that given hospitality to my questions !

Thanks to BM : something in my soul ... suggesting same of your opinion .

Thanks to You All
Alinghy

 
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 wgreenie 
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Alinghy View Post
why they didn't keep open, anymore, the chat option to can directly contact among the participants to the room ? Think and let me know ...

My final idea is : one of the most difficult activity in the world . Why ? you must have almost 1 good Pc (better 2 or 3) and very very good data Feed (I have ZENfire I think one of the very best, almost for what delivers !), good internet connectivity DSL or other type, but working at the best of actual "state of the art", infinite knowledge ......
I dont know what the right answer could be !

...

I say that because I saw lots of indicators, also extremely attractive, but finally crossing over the graphical dress, are they, at the end, all reliable on good level ??

Just came back from a tandem bike ride. Very sunny here (we had snow last May) and hopefully no more snow! Sorry to keep you "Alinghy" waiting!

I came across a few chatrooms and almost all do NOT have an open chat option among the participants. Believe the organizers do not want to have someone talking behind their back. They may sneeze too much that they cannot focus on trading LOL! A Chinese saying: If someone is thinking of you, you will sneeze .. smile ..

I WISH I have 50% of your final idea. FYI: The small city I'm residing does NOT offer acceptable Internet service unless one is willing to invest thousands of $ on a satellite dish + a few hundred $ monthly access fee. It's a little better than dial-up and more reliable than last year after my husband's relocating the external modem to 100' up on a TV tower.

Before relocation, he had to climb up the roof of the house 2-3 times daily to move the modem around for a better signal. You know about my 2-year old laptop (I sent a sos message to Alinghy before) and it's still giving me "low disk space warning" 2-3 times a week. Last time it went to 0 disk space - gosh!

Bottomline: I'm doing my very best (both mental and physical) to overcome the challenges you can't imagine. Sometimes I would ask myself IF I'm dreaming of Impossible when I don't even have the minimal to work with!! Well, I came into conclusion that IF I do nothing, nothing will happen. Persistence is my strength and I will hang on .. haha ..

Thanks to Big Mike for his response to your suggestion. I agree with him 1,000,000,...% that the best chart is one WITHOUT any indicators. It's a ZEN idea (I'm a Buddhist .. smile)! Maybe one day I will get there .. We can certainly apply this approach to our life. To lead a Happier life = live with LESS and NOT more!

Thanks again Alinghy for enlightening us!

Beth

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,203 received

Believe your morning has been going well. I'm a "good" girl this morning as my trades align with the overall trend (up)!

Goals Accomplished:

1. Trade with the Trend. Only want what the Market wants LOL!

2. Preserve Precious Capital. Am quite happy with the way I managed my trades this morning.

Done with sim trade practice and I will explore more on the new indicator (Atlas line). You will notice my removing the TSF/SuperTrend strategy from the 7500 volume chart. I figured out its entry logics. Seemed not working for ES.

Non-trading activities for today: MUST make some peach tarts + a short yoga session (using an interactive XTreme Yoga Mat) else I will get into trouble.

Have a Great day.

Beth

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,203 received

No official KP/d9 trades for me this morning. You can tell from the 7500 volume chart that choppiness (white dots) until 10:40 there's a short signal. I chose not to enter short because 1/8 Murrey Math (weak, stop & reverse) was only 3-4 ticks away.

I have a new 5-minute chart with the Atlas Line indicator on. Also amended it to one with audio alert + showing the suggested entry price. It had a long signal aro 9:45 and my order 1183.25 (1 tick below the suggested price) was filled at 9:51. I placed 2 subsequent orders after it's filled, ie 1185.25 (2 pts PT) and 1180.25 (3 pts SL). It went up to 6 ticks above my entry before dropping and hit the SL.

The trade lasted for almost an hour. My emotion was very calm throughout the whole period because I left the trade to run its course. I was the machine activating the trade and that's it. Certainly if the suggested entry price did not get hit, no big deal too.

Now I need to figure out HOW can I program myself in that mindset when I manage the KP/d9 trades or any other manual trades?!

Back to the Atlas trade. Should I allow any human interference, I would probably close the trade when it started dropping 2 ticks close to my entry. One should never ever let a winning trade become a losing one LOL! I also do not like the suggested 4-5 pts SL even I adjust it to 3 pts (still too much and it's not a reasonable risk/reward ratio). Having said that, I do like the indicator giving specific entry/exit.

Well, let me try to figure out how to enjoy both worlds .. is it possible?

Another Update: I just signed up for a Market Profile webinar on Apr 18. Thanks to Ben and Big Mike for offering this great learning opportunity to us. Oh, I have to confess that I have absolutely no idea what Market Profile is. Will do some research before the webinar to maximize the learning benefits.

Thanks again for your support and witness my growth!

Beth

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 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Zen-Fire
Trading: 6E
 
Posts: 1,773 since Dec 2009
Thanks: 1,258 given, 1,203 received

A 2nd long signal was triggered at 1182 aro 11:20 am with its 2-point PT hit aro 1:05 pm. If one has a 2nd target of 4 points, it got hit aro 1:30 pm. Guess lots of lunch time buyers LOL!

I like this indicator (based on the historical data since early Jan) as it generates 1-2 trades everyday. For sure no over-trade .. smile ..

Continue enjoying your day!

Beth

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