The PandaWarrior Chronicles - Trading Journals | futures io social day trading
futures io futures trading


The PandaWarrior Chronicles
Updated: Views / Replies:233,893 / 2,157
Created: by PandaWarrior Attachments:213

Welcome to futures io.

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

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

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

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

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

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

-- Big Mike, Site Administrator

Closed Thread
 213  
 
Thread Tools Search this Thread
 

The PandaWarrior Chronicles

  #1101 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


Rad4633 View Post
Quick question does Mattz percent of winners differ from NT as I would assume they would be the same, I understand Mattz has alot more input for data etc. Just curious on % number as that is exactly what I was just posting in my journal that everyone needs to pay attention to % along with R2R

I'm not really sure what you are asking here. However, you should know I do not have an account with @mattz I just happen to really like him and I go to him with questions and he's always been straight with me. So as far as platform info about Optimus, I cannot answer those questions.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #1102 (permalink)
Elite Member
Greensboro NC
 
Futures Experience: None
Platform: TOS/ NT Dorman
Favorite Futures: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 886 received


PandaWarrior View Post
I'm not really sure what you are asking here. However, you should know I do not have an account with @mattz I just happen to really like him and I go to him with questions and he's always been straight with me. So as far as platform info about Optimus, I cannot answer those questions.

Sorry for confusion Panda, let me clarfiy better. When you put your data into the spreadsheet from Mattz did your winning % of trades vary from NT or were they the same. I would assume the same. this was my question

The following 2 users say Thank You to Rad4633 for this post:
 
  #1103 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received



Rad4633 View Post
Sorry for confusion Panda, let me clarfiy better. When you put your data into the spreadsheet from Mattz did your winning % of trades vary from NT or were they the same. I would assume the same. this was my question

Again, I don't have an account with @mattz but to answer your question, my numbers were slightly different due to how Ninja handles ATM strategies vs the broker. But the overall numbers are right on. The spreadsheet does not include commissions. I'm not sure if it has a commissions function or not. I haven't found it yet if it does.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 3 users say Thank You to PandaWarrior for this post:
 
  #1104 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Reprint from OpenTrader

If I Could Teach You One Thing About Trading Success, This Is It

What if it was all wrong? The common advice you hear about trading, that is. What if it was, plain and simple, wrong? Have you ever really considered that?

Youíve been told that you need to focus on simplicity. And that you have to find a few trusted setups to execute with discipline each time they show up. And that all you need is good psychology and youíll be profitable. But who tells you all of this? Is it professional traders who are making a living from their trading, or is it people who are trying to sell you trading education? Do you think it might be in their best interest to tell you that itís simple and straight-forward, even when it isnít?

Well, Iím not here to bad-mouth those people, but as a professional trader whoís made a living solely from trading, I have my own views about what trading is all about, and what it takes to achieve success. So here is what Iíve found.

Trading is not about clear-cut, straightforward simplicity. Trading is about being okay with ambiguity. Itís about tolerating confusion. Itís about sitting with discomfort and being at peace with it. Itís about not having an exact script of when to trade or not to trade, and being okay with that. Itís about exceptions to the rules. Itís about contradiction. Itís about uncertainty.

And yet traders left and right want to make it simple. They want to reduce it to a few simple setups to trade mechanically with discipline. But the market is not simple. The market is all about uncertainty, and complexity, and ambiguity. Simple setups traded mechanically could never capture that, and they can never give you a true lasting edge. So choose a different way.

Choose to learn the art of reading the markets. Learn to synthesize different elements like price action, structure, market internals, and intermarket themes, and pull them together into a contextual view. Only then can you choose to employ ďsimpleĒ setups to trade with. Because only then will you know which setups to use under which conditions. And this is everything.

And donít be fooled. Learning this is a very complex process that will take time. It turns out that psychology, while hugely important, is NOT everything. First, you need an edge. And having a consistent edge requires that you dedicate yourself to learning to read the markets and how to execute correctly in context. But itís very possible. Many have done it before you, and this means that you too can learn it if you dedicate yourself. They had nothing that you donít have. All they did, was to be relentless.

They didnít spend their trading days waiting for mindless setups and indicators to line up. No. They spent their days reading the market from minute to minute, hour to hour, figuring out the odds of it doing this or that, adapting dynamically, thinking of trading ideas as the action unfolds.

Now, youíll ask me if itís not easier psychologically to just have simple clear setups to wait for. Absolutely. It is. But who said ďeasyĒ would make you money? The market rewards what is hard to do. Itís hard to have ambiguity surrounding your market reads. Itís hard being uncertain. Itís hard dealing with competing and sometimes conflicting signs. And yet, this is what itís all about. You have to avoid needing things to be clear cut. Instead of running from uncertainty, train your mind to be able to better deal with it.

And keep a trading journal. But donít fill it only with thoughts about your emotions. Let it be filled instead with your notes about market action. Youíll find my notes still in the drawer beside my bed. Over 1000 pages of them. Day after day. Week after week. Making mistakes, wrong interpretations, being clueless about how the market was acting, not knowing how I should trade, not knowing if my views made sense or not. But I continued taking notes and learning. And then, something magical happened. Market feel was born. Now I had the prerequisite to trade those ďsetupsĒ theyíll tell you about.

So dedicate yourself. Dedicate yourself like youíve never dedicated yourself before. Trading is a mental sport. You have to approach it like that. Donít listen to the salesmen. Start building your skills. Start practicing. Make mistakes. Take losses. Be clueless. Donít be afraid of it. Itís okay; thatís the only way youíll progress. And trust me, progress you will.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 16 users say Thank You to PandaWarrior for this post:
 
  #1105 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
Favorite Futures: CL,ES
 
VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received


PandaWarrior View Post
As I mentioned a few days ago, I won a trading journal/spreadsheet from @mattz at Optimus Trading Group. I promptly forgot about it until today.

I've kept them in the past and like all good things, I have gotten lazy about keeping my stats. Matt at Optimus has been talking to me about making my trading more like a business and I realized today that I have neglected this aspect of my trading for a while.

So I decided to take my trades from last Monday through today and manually input them. I chose last Monday because that's when I really began looking for confluence between MTFs in a manner that reflects live trading. The two weeks prior to this were just experiments to see if I could see it all happening real time. I also made some minor modifications to my trading chart as well from a 2M to a 1M during this time as well.

The first few days were tough. I had some mental errors, some money management mistakes and a couple exit mistakes. That being said, as I began to get more comfortable with it, the performance began to improve and my winners started to overtake the losers in terms of profit.

The data in the pic is NOT what I expected to see. My win rate is quite a bit lower than what I thought I was running. Also, my profits were derived from fairly large winners in terms of dollars. This was accomplished with both size and distance. The larger winners were due to size and couple were due to runners. Seems like I need some of both.

The spreadsheet will track a bunch of other things that I have not put in but going forward, I can input the set up, trend vs counter trend, day of week and a few other things that may or not be important.

Since I'm doing far fewer trades than I used to, inputting them should be less of a chore than it was before.

I will try to post the summary every day if I have time.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Now thats a cool spreadsheet macro. Where can I buy one?

I do my stuff with pen and calculator...takes quite awhile...and its a little clunky to imput and save. But I am terrible at excel.

Any resource like that would be really great. I want to manipulate my data more. Cant really do it with pencil and ink.

The following 2 users say Thank You to VinceVirgil for this post:
 
  #1106 (permalink)
Elite Member
Greensboro NC
 
Futures Experience: None
Platform: TOS/ NT Dorman
Favorite Futures: ES TF CL
 
Rad4633's Avatar
 
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 886 received


PandaWarrior View Post
Again, I don't have an account with @mattz but to answer your question, my numbers were slightly different due to how Ninja handles ATM strategies vs the broker. But the overall numbers are right on. The spreadsheet does not include commissions. I'm not sure if it has a commissions function or not. I haven't found it yet if it does.


This is why I kept saying Mattz spreadsheet


As I mentioned a few days ago, I won a trading journal/spreadsheet from @mattz at Optimus Trading Group. I promptly forgot about it until today.

The following 2 users say Thank You to Rad4633 for this post:
 
  #1107 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Reprint from OpenTrader 1

How to Accelerate Your Trading Learning Curve and Increase Your Largest Profit Days, Part 1

Thereís a hidden enemy hurting your trading results. Itís not a lack of discipline, or falling prey to your emotions, or using bad strategies. All those things do hurt, but theyíre usually visible and can always be fixed. What Iím talking about is more dangerous.

Itís more dangerous because itís not readily apparent. And also because it directly affects everything else. So what is this powerful hidden enemy? Itís simply this: being satisfied with your best performances.

Wait, what? Arenít you supposed to be happy when you do well? Of course you are. And you should reward yourself mentally and emotionally. But donít linger there. Enjoy the achievement, but donít be satisfied. Hereís whyÖ

Being satisfied with your best results to date leads to complacency and untapped opportunity. It causes you to not progress rapidly and reach your true potential. And yet the key to surviving your learning curve, and to reaching elite levels of performance if youíre already profitable, is to keep making your Ďbestí better.

If your current best trading day resulted in a net profit of 7 points on the ES emini S&Pís and youíre satisfied with this performance because on most days you barely break even, what kind of motivation are you giving yourself to break through that level and have a 10 or 15 point day? And if youíre not motivated to achieve that, how can you expect to improve?

The Secret to Great Performance

You may be reading up to this point and thinking that you donít have to always be improving your best performance to improve; you could simply improve by having less bad performances. Very true. But let me ask you a question. What is easier to do, fix your weaknesses or improve on your strengths?

Think about it. What do you find easier to accomplish in life in general, overcoming something that you struggle with or getting even better at something that youíre already good at? I think the answer is pretty obvious. And the answer brings forth an interesting conclusionÖ

That conclusion is that while elite performers (whether they be top athletes or top traders) definitely do constantly work on their weaknesses, they spend just as much time- if not even more- working on their strengths. This keeps making their Ďbestí even better, and those good performances greatly compensate for all the times they donít do well.

Letís take an example. Suppose youíre good at trading intraday trends. Your strengths are patience and a lack of fear of regret. Youíve always had these character traits and they translate into giving you the great ability to hold your winners longer than most people since youíre able to wait and are not always worried about regretting losing the profits. You also have the technical strength of detecting trends early and reading them well. On the other hand, you often over-trade range-bound days because you find all the fake breakout moves highly frustrating, and they bring out the anger in you, which are your natural weaknesses. You also donít have a good eye for reading choppy days well.

Like most traders, youíre constantly working on those weaknesses. Always trying to control your frustration and anger so that you donít over-trade and take losses. Always trying to improve your ability to detect and read range days. Now this is all well and good, and you should definitely be working on these weaknesses. But what about your strengths?

Well, if youíre like most traders, youíre not even focusing on your strengths. Youíve taken them for granted and are satisfied with the gains they bring you. But let me pose a question to you. What if you improved your ability to hold trending moves even longer and also became better at detecting them earlier? If in the average month you made 30 points from all the days with trending moves and lost 30 points from all the range-bound days- making you a break-even trader- improving your performance on the trending moves by only 20% puts you 6 points in the green, and suddenly makes you a profitable trader!

Of course improving on the range-bound days by 6 points would also have the same effect, but the point is that itís much harder to improve that weakness of yours than it is to improve a strength! All things are already aligned in your favor when working on strengths, and this makes a given % improvement easier to achieve. And that makes all the difference.

What the Great Performers Do Differently

The great performers in any discipline naturally understand what Iíve explained above. They definitely always work to eliminate their weaknesses, but they focus even more on accentuating their strengths. They take the more efficient route to great performance.

If a boxer has a great natural right hook, he may work diligently on his weaknesses, but heíll work even harder on perfecting that right hook. Because he knows that if itís great, it can win him fights. And he knows that he can make it greater than he can make his other punches, and he can also achieve this feat faster. And if a tennis player has a good forehand, sheíll work a lot on all of her other shots, but sheíll become better overall if she makes that good forehand truly world-class. Because having a bunch of average shots makes her average, but having a killer forehand can win her games, sets, and matches.

So given all of this, hereís what I want you to do right now. Take an inventory of yourself and your trading results. What are your strengths? What key character traits contribute to your best performances? Do you have certain types of market environments that you make more money with? Note all of this down.

In Part 2 of this series, Iíll share with you the strategy Iíve used to improve my trading strengths, and how it leads to faster overall learning (which also helps improve the weaknesses), and to increases in overall profitability.

In the meantime, let me know what you thought of this post! Did it open up your eyes to a new way of looking at things? Or do you disagree with its conclusions? Letís get a nice dialogue started for the benefit of all.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 16 users say Thank You to PandaWarrior for this post:
 
  #1108 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Reprint from OpenTrader 2

How to Accelerate Your Trading Learning Curve and Increase Your Largest Profit Days, Part 2

In Part 1 of this series, I talked about a surprising thing that the top performers in any field do differently than the rest. In this part I’ll be sharing the strategy that builds on this knowledge, and which has helped me accelerate my own learning curve and increase my largest profit days.

By the end of this post you should have a practical method for speeding up your learning, while improving your overall results by becoming better at what you do best. If you’re a developing trader, this could be what pushes you to profitability. If you’re already a consistently profitable trader, this can help take you to elite performance.

The Method

Simple principles can often prove very powerful when put to use. I think you’ll find this method to be simple, and its effects to be highly beneficial.

In Part 1 I told you to do an inventory of your strengths. Particularly, which types of market environments and set-ups do you have the best results with? And which character traits / abilities contribute to your out-performance in these instances? Once you have those, here’s what you simply do:

Each time you reach a new ‘best day’ or ‘best trade’, instantly set a new goal to beat that mark.
You mean that’s it? No complicated strategies? Yes, that’s it. But don’t be fooled; this simple method will start a chain reaction of inevitable consequences that are about to take your game to another level.

The Benefits

To understand why this method is so powerful, let’s think about what happens when you instantly and perpetually set new goals to beat your best performances.

When you want to always better your best, you have to figure out how to improve your skills. So when you have these constant goals, it acts like fuel to push you far beyond what you’d ever normally do. Now you’re no longer satisfied with your good performances. Instead you’re instantly trying to figure out what you’ll need to learn to beat them. And since this is your goal, you won’t believe how much more you’ll push to learn.

Instead of stopping and resting when the market closes, now you stay at your desk and review the day and the trades. After all, you have to beat your new best mark next time around. What could you have done better? What subtle market behavior did you miss? How could you catch it next time? What mistakes did you make? How could you avoid them next time? What things did you do right? How can you do them even more right next time? Put more size on at the right time? Enter earlier? Don’t scale out? Add another trade at certain point? The possibilities for improvement are endless. Both in terms of learning to read the market better, and learning to execute on your insights better.

But something else happens when you use this method instead of being satisfied with your best performances: you start pressing it more when you recognize your ideal trading conditions. In fact, you become better at recognizing those ideal conditions to begin with. Since you’re constantly studying them, you become adept at detecting when they’re likely to occur. And since you want to beat your best, you don’t stop trading when you’re up a nice profit for fear of losing it. No. Now you’re on a mission. Fear of regret gets thrown aside as the bigger regret becomes not beating your best when you had the chance. And given that one of the biggest hidden weaknesses traders have is quitting while they’re ahead for fear of giving back the profits (even though this is often the best time to press it) , you simultaneously remove this weakness.

That’s the power of this simple method. It sets a whole virtuous chain of events in action. And knowing that you have a ‘best mark’ to beat, your focus also increases and becomes laser-like. In the end, and somewhat ironically, you not only end up improving your strengths, but in the process you improve your weaknesses too, and get better on the whole.

Action Plan

So now that I’ve shared with you this powerful strategy, it’s time to go put it to use. From Part 1 you pinpointed your specific strengths. You know when you’re at your best. Now each time you hit a new best performance level (whether on a specific type of trade, day, or period of favorable market conditions), enjoy and reward yourself but instantly set a goal to beat the new mark. You may not achieve it for a while, but the benefits that are brought about from striving to do so are what matter.

If you constantly follow this plan of action, you should find your learning curve accelerating, and your largest profit trades and days increasing, as you capitalize more on your strengths and improve overall.

What methods do you use that have helped you accelerate your learning and improve your performance? I’d love to hear about them in the comments below.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

Last edited by PandaWarrior; September 20th, 2012 at 12:09 AM.
The following 14 users say Thank You to PandaWarrior for this post:
 
  #1109 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


VinceVirgil View Post
Now thats a cool spreadsheet macro. Where can I buy one?

I do my stuff with pen and calculator...takes quite awhile...and its a little clunky to imput and save. But I am terrible at excel.

Any resource like that would be really great. I want to manipulate my data more. Cant really do it with pencil and ink.

The "lite" version is for futures only.

http://tradingspreadsheets.com/default.aspx

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #1110 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received



Rad4633 View Post
This is why I kept saying Mattz spreadsheet


As I mentioned a few days ago, I won a trading journal/spreadsheet from @mattz at Optimus Trading Group. I promptly forgot about it until today.

Sorry, I am doing three things at a time and missed your point. My bad.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 3 users say Thank You to PandaWarrior for this post:

Closed Thread



futures io > > > The PandaWarrior Chronicles

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 12:18 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-10 in 0.20 seconds with 20 queries on phoenix via your IP 54.90.207.75