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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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  #521 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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I came across 1-2-3 Reversal before. Now with an ABC Pattern in front of me, they look quite similar in my newbie's eyes. Am I right to say that ABC failure = 1-2-3 top reversal Short opportunity

Thanks in advance for your guidance.

Beth

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  #522 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Price currently trades around 1102.75 area (6.50 points below yesterday's Close @1109.25). Very likely to open within yesterday's Value Area 1092.50 - 1105.00. If it stays within it for the first hour, it's going to be quite range bound until it rotates up or down to extend the range. Will see.

Overnight High and Low as at 9:00 am: 1110.50 and 1100.00
VPOCs: Top 1128.50 Bottom 1099.00

Note: If it opens below 1099.00, Top 1099.00 Bottom 1079.00.

Enjoy a Successful day.

Beth

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  #523 (permalink)
 wgreenie 
Cambridge, Ontario
 
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I made a Long attempt after price's breaking LH. Actually I waited a little as it seemed a little choppy + too early to trade (within minutes after the market opened). I notice if I stayed with 1105.75, I might get filled. Unfortunately, I adjusted it to 1105.50 (my old habit tried to get a better price) and certainly it went up without me. A lesson learned.

Goal Accomplished: An A trade and B+ for me!

Happy & Successful Trading.

Beth

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  #524 (permalink)
 wgreenie 
Cambridge, Ontario
 
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My fingers couldn't help placing the enclosed A Trade LOL! It's based on breaking its recent HL and all indicators aligned with this Short esp the red COTs on the volume chart.

Well, the second PT was not hit and closed with 2 ticks. No more as 2 trades/day has been my favorite .. smile ..

Beth

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  #525 (permalink)
 wgreenie 
Cambridge, Ontario
 
Experience: Intermediate
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Trading: 6E
Posts: 1,778 since Dec 2009
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Initial Balance: 1102.75 - 1109.00 (6.25 points)
Value Area as at 10:40 am: 1108.00 - 1106.00 - 1104.50 (3.50 points)
Price opened @1104.50
Today's High and Low as at 10:40 am: 1109.00 and 1102.50 (almost matching IB)
VPOCs: Top 1128.50 and Bottom 1099.00

Open price gapped down almost 5 points from yesterday's close @1109.25. Still a narrow range IMHO. Notice the long buying tail for the third 30-minute bracket?! I expect more efforts to drive down. If successful, price will rotate down further else it may rotate up or trade horizontally within a narrow range.

My recommendation: Trade with the Trend!

Beth

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  #526 (permalink)
 wgreenie 
Cambridge, Ontario
 
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With more PA practice, I am getting more confident in plotting my own labels even they are slightly different from the system generated ones.

When I did research on ABC pattern last night, I tripped over a video clip on MACDBB which I came across in Apr. Since I did not know how to benefit from this amazing indicator then, I only played with it for a day. After watching the video, I have it back to the PA Swing chart for my EOD studies (replacing the Snapback one as I "try" to have a cleaner chart).

Note:

1. The MACDBB Version 2 is available from the Downloads section. Thanks to The Wizard.

2. If interested, the video link is as follows (the first few minutes were quite dry):

[COLOR=#800080]http://www.nexgent3.com/Videos/May10%202010%20101%20202%20class/Section%202%20101%20Macd%20BB%20Lines/Section%202%20101%20Macd%20BB%20Lines.htm[/COLOR]

Beth

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  #527 (permalink)
 wgreenie 
Cambridge, Ontario
 
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I did 4 profitable sim trades today with 2 on the official record. I even got both PTs for the last trade. All 4 trades with minimal heat. I should be happy .. Yet I'm not .. sigh ..

I am angry at myself since I have no idea when I will be ready to trade real!!! I used to be very spontaneous and impromptu. Not sure where my courage goes? Sorry to voice out my grievances here .. the only channel to release them ooooo.

Beth

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  #528 (permalink)
 
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 aslan 
Madison, WI
 
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wgreenie View Post
I used to be very spontaneous and impromptu. Not sure where my courage goes? Sorry to voice out my grievances here .. the only channel to release them ooooo.

If you want to trade for real $$, then spontaneous and impromptu are not two traits I would be striving to let out. When the trading hat goes on, patience, calm, and methodical would be better. When the trading hat goes off, be wild.

This is the place to voice your issues! It will not only help you, but others as well.

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  #529 (permalink)
 wgreenie 
Cambridge, Ontario
 
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aslan View Post
This is the place to voice your issues! It will not only help you, but others as well.

Thanks Aslan for your pair of patient ears and kind soothing words!! I cannot share my discontent with my husband. It's very challenging to have everything packed in my petite head ..

Feel better now that I can here .. haha ..

Beth

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  #530 (permalink)
 wgreenie 
Cambridge, Ontario
 
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Reading price action and Plotting HH/HL/LL/LH labels used to be very intimidating. I believe there must be many trading methods available and I choose the simplest one. As days pass by, my chart has started to speak to me occasionally. I also realize my preference to place a 1-side trade and not breakout trades on both buy/sell sides. Why? I am able to confirm the signal with other indicators as price moves close to the anticipated breakout area. Well, just my preference.

Done with trading. May do more research or simply take a break.

Have a Nice evening.

Beth

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Last Updated on May 21, 2011


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