Bettina's Journal

[bgbearnavy]

-8.4 and + 16.2 ...
Hiding SL and TP from the broker has it's surprises.
The -8.4 should have been only -6.4, the + 16.2 was TP12. So I probably won't hide the SL in future.
My week was much, much better than almost all before : + 6%, which is 48.5 pips. I achieved a 50 % win rate, which I never did before. So I'm really looking forward to next week, which might be quiet because of easter
Have a nice weekend !
Bettina

Sure like you charts! What is teh red/green button on the the top left? Can I get a copy of your Templates?

-Jesse

[Bettina]

Hi Jesse,

the buttons at the left upper corner are from a very good Trade manager from forex factory, which Richard found and shared the link in this forum
http://www.forexfactory.com/showthread.php?t=371147.
But it needs some reading in the thread to understand all the included features
The Fractal Fib Multi indicator, which gives you the aims level of higher time frames is sold by Steve
http://itradeaims.net/forum/viewforum.php?f=4 or
http://www.for-exe.com/indicators.html
Forex Widget is from Steve for free, left lower corner
Pivots shows the daily pivot lines. I got it from Dave here. Hope, it's free ??

The rest are my own indicators :
lotsize - right upper corner, don't want to share, only for EUR accounts, not needed with the trade manager, because it has automatic position sizing
trendline : draws trendlines ( mainly from w3/the highest/lowest fractal to the last fractal ) and rangelines within the last 140 bars
HTF_ZL_Cross shows an arrow at ZL cross of a higher time frame. Works nicely on M1 with HTF = M5, has problems with M5/M15, don't know why.
BDC : Yellow spikes, shows BDC
inside - thicker black bars, but you can have it as you like, shows inside bars
for the last two, charts have to be in background,

But : Be carefull, the master always shouts at me because of my crowded charts

[Bettina]

Hmmh, +10 and +6, but i didn't see that there was more.
m1 had a w3 and a w5 and M5 w5 had already reached TZ1...

[bgbearnavy]

Hi Jesse,

the buttons at the left upper corner are from a very good Trade manager from forex factory, which Richard found and shared the link in this forum
http://www.forexfactory.com/showthread.php?t=371147.
But it needs some reading in the thread to understand all the included features
The Fractal Fib Multi indicator, which gives you the aims level of higher time frames is sold by Steve
http://itradeaims.net/forum/viewforum.php?f=4 or
http://www.for-exe.com/indicators.html
Forex Widget is from Steve for free, left lower corner
Pivots shows the daily pivot lines. I got it from Dave here. Hope, it's free ??

The rest are my own indicators :
lotsize - right upper corner, don't want to share, only for EUR accounts, not needed with the trade manager, because it has automatic position sizing
trendline : draws trendlines ( mainly from w3/the highest/lowest fractal to the last fractal ) and rangelines within the last 140 bars
HTF_ZL_Cross shows an arrow at ZL cross of a higher time frame. Works nicely on M1 with HTF = M5, has problems with M5/M15, don't know why.
BDC : Yellow spikes, shows BDC
inside - thicker black bars, but you can have it as you like, shows inside bars
for the last two, charts have to be in background,

But : Be carefull, the master always shouts at me because of my crowded charts

Much thanks!

[Bettina]

immy, I wanted to ask you, why you saw so much potential in the EU setup today ?

H1 was in w4, M1 had 3 and 5 and M5 had also had a 5 with TZ1 hit.
I think you entered at the dot, where my second entry is.

[immy]

immy, I wanted to ask you, why you saw so much potential in the EU setup today ?

H1 was in w4, M1 had 3 and 5 and M5 had also had a 5 with TZ1 hit.
I think you entered at the dot, where my second entry is.

If you mark that with a vertical line and check m15. you'd know the reason. I saw a big 1-2 with a principle C to downside. and I believed at taht time. we were in for a BIG RED candle on the daily chart!

I hope it makes sense. prince broken nicely to the downside before Frankfurt oepn and it retraced nicely. plus other eu pairs ej namely was in good mood too. I felt it was the day of shorts only. hence I did not take any long yesterday. And the day finished with massive pippage from EU and EJ as I held on to my m1 trades ALL DAY LONG. Even Erik made 316 pips by holding two trades all day long.

cheers

[Bettina]

Hi,

this week was bad again. last weak I had +32 pips and this week -32.
I thought I could have a first positive month since January 2012, but it shouldn't be: -3%, which is much better than -27% in February.

Last week I was very strict with TP=12, but everybody makes me nervous with that endless : "let it run".
So I moved the TP higher to TZ1 or any other S/R line, with the results, that it never was hit and my winners are about + 5 to + 7 and so on. That's not enough with SL 8.

Have a nice easter !
Bettina

[Tomi]

Hi,

this week was bad again. last weak I had +32 pips and this week -32.
I thought I could have a first positive month since January 2012, but it shouldn't be: -3%, which is much better than -27% in February.

Last week I was very strict with TP=12, but everybody makes me nervous with that endless : "let it run".
So I moved the TP higher to TZ1 or any other S/R line, with the results, that it never was hit and my winners are about + 5 to + 7 and so on. That's not enough with SL 8.

Have a nice easter !
Bettina

Hi Bettina, by no means I'm not giving any advice but just personal point of view to "let it run" dilemma. I'm closing half of the position using for example TZ, divergence or predefined TP etc. Other half I'll just let it go and not rushing with SL. Depending on angularity I will trail using red/green/AIMS levels. This is a new thing to me and used in only few trades, but for me the psychological point is a big thing. It's way more easier to let the second half to run when I have banked already something. Just wanted to share this thought as noticed the mental aspect lately. Closing the first half will feed the gut feeling and closing the second half will feed the discipline side of me. I have no idea if this is a good approach from profit wise, but at least trading is much more fun like this. Time will tell about the profits and maybe I'll switch back to normal close-all-once approach after seeing more trades and results. Just a thought! Happy Easter!

[Darren]

Hi,

this week was bad again. last weak I had +32 pips and this week -32.
I thought I could have a first positive month since January 2012, but it shouldn't be: -3%, which is much better than -27% in February.

Last week I was very strict with TP=12, but everybody makes me nervous with that endless : "let it run".
So I moved the TP higher to TZ1 or any other S/R line, with the results, that it never was hit and my winners are about + 5 to + 7 and so on. That's not enough with SL 8.

Have a nice easter !
Bettina

Hi Bettina, by no means I'm not giving any advice but just personal point of view to "let it run" dilemma. I'm closing half of the position using for example TZ, divergence or predefined TP etc. Other half I'll just let it go and not rushing with SL. Depending on angularity I will trail using red/green/AIMS levels. This is a new thing to me and used in only few trades, but for me the psychological point is a big thing. It's way more easier to let the second half to run when I have banked already something. Just wanted to share this thought as noticed the mental aspect lately. Closing the first half will feed the gut feeling and closing the second half will feed the discipline side of me. I have no idea if this is a good approach from profit wise, but at least trading is much more fun like this. Time will tell about the profits and maybe I'll switch back to normal close-all-once approach after seeing more trades and results. Just a thought! Happy Easter!

I agree with Tomi. I have been using his exact same approach for the last week or so by entering 2 positions (half the size of your original trades for each position) and closing 1 position reasonably early (8 - 20 pips) and letting the other half run. This has improved my profits as I am getting some big winners and is much better psychologically as you stay in the really big moves. The smaller moves you generally get a few pips rather than a loss. Before using this method I was closing far too early and found it hard to make a profit. You may find it worth giving it a go and see how you get on.

Cheers,

Darren

[immy]

80% of trading is mental and that 80% can be better handled with correct money management. So if trading is 80% mental I'd say 50~ % of that 80% is in the power of money management if yo get it right and GET IT to suit your own unique personality.

The Psychological Advantage of this form money and trade management is priceless. For long I've been against selling half as it takes the power off the profits hence I am a proponent of adding on. But I have, through experimentation and experience with lots of other traders found that there is a state of mind when achieved things are much more clearer and easier to "perceive" than without. And that is the Objective "Care Free State of Mind" that Mark Douglas talks about in his books. Its fascinating to know that by applying a simple money and trade management technique that all important state of mind can be easily achieved or at least we allow conditions to exist which makes it possible for the sate of mind to be achieved eventually. and indeed with much repetition we can get good at it. I approve to the extent that, in fact, I would like to add this in a slightly different manner in the next edit of our book/manual for everyone to read and follow.

Its interesting how when one in the group or few starts to think of something and before you know the whole group's coming up with their own different variations of the same sort of thought...