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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #1221 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


Futures Operator View Post
This makes sense, but it sounds like it's possible that leaving part of the position on to capture different scenarios or runners on big moves, could also work out to better net profit overall if you are going for larger swings. Have you found that this is the case, not only in terms of comfort, but in net profit, for your style as a trader?

I can't accurately say what the numbers would be without scaling, because I don't trade that way and have no intention of doing so.

I don't want to derail this thread, so I will just briefly say that I look to the left for clear price action support/resistance, then align that with profile levels, and usually set three targets. I generally try to give the market a wide berth on reaching the targets simply by asking myself "am I wrong on the direction here?". If I am not wrong then I try to stay in the position. As the first and second target are hit, if the market pulls back then I will look to re-enter again on the pullback if I feel it was overdone and we will continue in the original direction.

Again I think it is very important to understand that my smallest chart shows around 6-7 days of action, and that I am not scalping. I don't think you can apply most of what I am saying if you are scalping.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #1222 (permalink)
Trading for Fun
Gainesville, Florida, United S
 
Futures Experience: None
Platform: TWS
Broker/Data: IB
Favorite Futures: Stocks
 
Posts: 66 since Dec 2010
Thanks: 30 given, 104 received

Panda,

I was not attempting to be confrontational -- while at the same time I was not stating a matter of opinion, either.

You hold 100% of the rights to all of the value (money) that you are ahead in a live trade.

If you would prefer think of this money as "vapor" -- that's certainly your choice.

But unless you are flat and plan to never initiate another trade --- then by your logic -- any amount that you plan to put at risk on trades in future trades should also be thought of as "vapor".

Peace,
Paige

The following 4 users say Thank You to Paige for this post:
 
  #1223 (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



Paige View Post
Panda,

I was not attempting to be confrontational -- while at the same time I was not stating a matter of opinion, either.

You hold 100% of the rights to all of the value (money) that you are ahead in a live trade.

If you would prefer think of this money as "vapor" -- that's certainly your choice.

But unless you are flat and plan to never initiate another trade --- then by your logic -- any amount that you plan to put at risk on trades in future trades should also be thought of as "vapor".

Peace,
Paige

In the sense that you have the RIGHT to close the open trade and take profits, you are correct. But until you do, those profits don't exist.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 8 users say Thank You to PandaWarrior for this post:
 
  #1224 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

Registrations are now open for Brian's upcoming webinar on Tuesday @ 4:30 PM ET:

Trading Webinars, Trading Videos - Big Mike Trading Forum

Looking forward to it Brian!

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following 6 users say Thank You to Big Mike for this post:
 
  #1225 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received


Big Mike View Post
Registrations are now open for Brian's upcoming webinar on Tuesday @ 4:30 PM ET:

Trading Webinars, Trading Videos - Big Mike Trading Forum

Looking forward to it Brian!

Mike


Woo Hoo !!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
The following 2 users say Thank You to tderrick for this post:
 
  #1226 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


tderrick View Post
Woo Hoo !!

And here is main discussion thread for the webinar:

https://futures.io/elite-circle/23768-webinar-pandawarriors-top-10-things-he-wished-hed-known-sooner.html

See everyone Tuesday

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

The following 4 users say Thank You to Big Mike for this post:
 
  #1227 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received

Rats

I hate it, buddy ... But I simply can not find a sub to cover for me on Tuesday...

It's a big session I can't move so I have to do it... I'll have to catch the recording.

Break a Leg, my friend...

@PandaWarrior = Superstar


AJ
Nashville, Tennessee


"Life On The Edge of SR"
The following 2 users say Thank You to tderrick for this post:
 
  #1228 (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


tderrick View Post
I hate it, buddy ... But I simply can not find a sub to cover for me on Tuesday...

It's a big session I can't move so I have to do it... I'll have to catch the recording.

Break a Leg, my friend...

@PandaWarrior = Superstar

AJ, you've heard it all from me before, just without the slides....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following user says Thank You to PandaWarrior for this post:
 
  #1229 (permalink)
Elite Member
west palm beach florida usa
 
Futures Experience: Advanced
Platform: ninja trader
Broker/Data: Optimus Futures/ Rithmic
Favorite Futures: Cl, TF
 
Posts: 719 since Oct 2011
Thanks: 625 given, 2,445 received

Looking forward to your presentation. I've definitely gotten a lot out of your thread.

Failure is not an option
The following 2 users say Thank You to lancelottrader for this post:
 
  #1230 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,527 received



PandaWarrior View Post
AJ, you've heard it all from me before, just without the slides....



You are a great teacher....help the rest of the crew as you have helped me.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
The following 3 users say Thank You to tderrick for this post:

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