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


The PandaWarrior Chronicles
Updated: Views / Replies:234,411 / 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 – 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 don’t 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

  #1711 (permalink)
Elite Member
Holland, Michigan
 
Futures Experience: None
Platform: ninjatrader
Broker/Data: CQG
Favorite Futures: Acoustic Guitar
 
trs3042's Avatar
 
Posts: 1,802 since Jun 2009
Thanks: 23,771 given, 5,600 received


PandaWarrior View Post
I find myself in the odd position of not having made any money this week and feeling good about it....well not that good but something happened to me this week. Something mental and emotional....

I can't really define it....but its in the category of something we all know at least a little bit about...

But first a story.....about health.

How many people do I (you) know that was unhealthy and obese and whose doctor was always telling them to eat right and exercise? But they never did....then suddenly the heart attack happens or they are diagnosed with cancer or some other equally frightening disease. Then it seems if they survive the initial attack or diagnosis, they get it together and turn their health around 180 degrees and live a long and healthy life.

I've always wondered why they just didn't eat right and exercise in the first place and avoid all the pain and suffering.

And now I think I've figured it out......its the motivation behind the required change.

Our whole lives we've heard it...take care of your health and fact is, some do. For me, anytime I would attempt to take care of my health, it was always out of FEAR of something terrible happening and I suspect that most of us would rather NOT take care of our health but we do it out of fear. Or we don't do it and still live in fear of what might happen and praying it never does. For me, fear is a poor and short lived motivator. It produces results that are difficult to achieve, nearly impossible to sustain and brings with it no satisfaction. Therefore the changes that results from fear based motivation easily dissipates. We feel guilty but not that guilty.

Fast forward to the present post heart attack situation. I'm not afraid to die. I know this sounds weird but I'm not. What I am afraid of is not seeing my kid grow up. There it is again, fear....but this time its different. Its a fear born out of love. Love of my kid and how desperately proud of her I am. How much I want to be part of her life for a very long time. How much I want to see her graduate from college and perhaps get married and have a family of her own. Love of my wife and how much I want to be with her, even on the days it seems like it would be best if we had never met.....even on those days I want to be with her....

Love is a much greater motivator than fear. Fear can last for a while but it always fades. Love lasts forever and people do things for love they would never do out of fear.

Pre heart attack, those emotions were still present, just not present on the surface of life each and every day. Then the attack happens, suddenly the realization this life really is just a breath away from being over at any moment in time sinks in. Those emotions rise to the surface of life and stay there. I suspect over time, they may fade but perhaps not. Life changing decisions made at times like these can last the remainder of ones life and sustain those emotions indefinitely.

Today, I find the motivation to change my health is constant and ever present. Every time I see my kid, its there. Every time I see coca cola, its there. Every time I don't feel like walking my prescribed distance its there. The motivation of love trumps all the other crap that tries to interfere.

Why doesn't this work prior to the attack? Because the realization of the brevity of life isn't front and foremost in our mind. The vitality of youth, the invincibility we feel carries over into middle age when intuitively we know its not true but we act like it is.

Then the wake up call comes. The call to action and we are no longer complacent. Love triumphs over complacency and we do what we must out of love and joy at seeing another day.

Segue to trading;

Why don't we make the changes we know we need to make? Why don't we do the things we KNOW to do? Why do we continue to act in our own self destructive behaviour patterns?

Answer: Because our motivation is wrong. We are greedy. We are fearful. We want to be right. We want bragging rights. We feel the need to conquer.

None of which are good motivators in the marketplace. Greed kills, fear paralyzes, the need to be right leads us down the path of folly, bragging rights turn into embarrassment, instead of conquering, we walk away defeated knowing victory is within reach.

Our motivation is wrong.

For me, my motivation is switching from wanting to be rich to wanting to be the provider and protector of my family as much as lies with my ability. My intention is to increase my ability over time so that my original motivation and my new motivation are congruent. That by becoming rich, I take care of my family in a more and more efficient, more loving, more joyful manner. Its not about lifestyle, it's about security. It's not about travel, it's about the depth of the experience and the memories it produces. Its not about the house, its about the life that's lived under its roof. Its not about the car, its about the journeys we can take in it. Together.

While money is not the end, it is the means to an end and therefore I MUST do what is necessary.....man up if you will and do what is right. Not right for my ego, or my greed or my fear or my need to win.....I must do what is right for my family. In that I am fulfilled. In that I find bragging rights. In that I find sufficiency.

So back to my mental and emotional change. I can't define it. But I've written about it. Perhaps in time I will identify it with some greater degree of accuracy.


There is more than enough.......

@PandaWarrior

Excellent post Brian. Thank you for reminding us why we do what we do and the reason for doing it.

Have a great weekend,

Rick

"If you're going to panic during a trade............. panic early."
The following 8 users say Thank You to trs3042 for this post:
 
  #1712 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received

Wow Brian, what a sobering and heartfelt post. I can feel your sincerity in your words, and your words have motivated me. Thank you very much for writing this today.

The following 6 users say Thank You to josh for this post:
 
  #1713 (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



PandaWarrior View Post
There is more than enough.......

We all love you Brian for all that you do and share. I have had my own health scares of late and can relate, as I am sure many can.

Trading is a great occupation, but living is the true gift and my favorite pass time. Too many people quite literally work themselves to death, never happy, never really enjoying the fruits of their labor. They may surround themselves with expensive toys, but still be miserable. I am speaking from experience.

I owe the act of actually becoming a good trader much more than just trading profits that come with it. In fact I can unequivocally say that the last 6 years or so of my life since I have been going full time on trading, I have learned more about myself than at any other time, and the best thing about that is that I learned what truly makes me happy. I am in my mid 30's so perhaps it is early, or perhaps late, to find this out. But having found it, I have a constant sense of calm now because like you, I am not afraid to die - because I am happy. That's not to say I that I welcome death naturally, but I am at peace with it. And for me it has nothing to do with religion because I am not a religious person. Instead it's just about being happy with myself for the first time in my life.

The act of becoming a trader is what allowed that, or forced that more aptly, to happen. I consider myself a different person these days and am much happier for it.

Thanks for sharing all that you do, I know that it benefits many because I know so many can relate and have faced similar struggles whether it is with trading, health, or just life in general. You are a good friend and a good member of the community, and I am thankful for you, and all the others like you, for making futures.io (formerly BMT) the special place that it has become.

Enjoy life, enjoy living, enjoy your family, and enjoy your weekend!

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.

 
  #1714 (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

Old friend via email "hey what kind of shape are you in", response ... "round".



Sent from my Nexus 4

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:
 
  #1715 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received


Big Mike View Post
We all love you Brian for all that you do and share. I have had my own health scares of late and can relate, as I am sure many can.

Trading is a great occupation, but living is the true gift and my favorite pass time. Too many people quite literally work themselves to death, never happy, never really enjoying the fruits of their labor. They may surround themselves with expensive toys, but still be miserable. I am speaking from experience.

I owe the act of actually becoming a good trader much more than just trading profits that come with it. In fact I can unequivocally say that the last 6 years or so of my life since I have been going full time on trading, I have learned more about myself than at any other time, and the best thing about that is that I learned what truly makes me happy. I am in my mid 30's so perhaps it is early, or perhaps late, to find this out. But having found it, I have a constant sense of calm now because like you, I am not afraid to die - because I am happy. That's not to say I that I welcome death naturally, but I am at peace with it. And for me it has nothing to do with religion because I am not a religious person. Instead it's just about being happy with myself for the first time in my life.

The act of becoming a trader is what allowed that, or forced that more aptly, to happen. I consider myself a different person these days and am much happier for it.

Thanks for sharing all that you do, I know that it benefits many because I know so many can relate and have faced similar struggles whether it is with trading, health, or just life in general. You are a good friend and a good member of the community, and I am thankful for you, and all the others like you, for making futures.io (formerly BMT) the special place that it has become.

Enjoy life, enjoy living, enjoy your family, and enjoy your weekend!

Mike

I think it's a feeling of acomplishment. You feel complete by achieving your goal and thus in peace with yourself. I can also relate to that.

Trade to live. Not live to trade.
The following 5 users say Thank You to xelaar for this post:
 
  #1716 (permalink)
Elite Member
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,948 since Jul 2010
Thanks: 6,314 given, 31,870 received

Becoming a successful trader doesn’t happen by accident. It is exceedingly difficult to derive a method that is consistently profitable, and it is even more difficult to successfully apply such a method in actual practice. Near randomness and efficiency in the market almost guarantees failure. And, of course, the principle of ever-changing cycles works to force quick and drastic changes of results sequences when the public happens to get wise to a winning idea. But, you've been able to identify 3 precise patterns and execute trades to position, that demonstrate a statistical tendency behind these patterns. Managing the risk in the trade appropriately, perhaps "adjusting" the position as the trade develops.

On the surface, this appears to be a very positive development, and it is. But it can also be very limiting. When you trade patterns in the market–you actually trade the underlying imbalances that create those patterns, i.e., more buying than selling and the market moves higher and the converse. Patterns reflect this reality but don't explain what is driving price. Without a broader knowledge of the market and an understanding of the bigger picture you cannot develop a dependable sense and feel for the market. And while these set-ups are dependable to a degree, they tend to make you focus on the few broad outcomes that appear the most probable and probably the most obvious, and ignore the low-probability scenarios. And, its usually the moves you don't expect, that are often the most profitable, and which coincidentally, are often found at the beginning of trends.

Compared to trends, range trading, is far more difficult due to the random nature of short term price action and the omnipresent HFTs. Unfortunately, it is exactly in this environment where you are trying to "grind" it out. And if you read Bacon and substitute the market for the track, the "grind" privileges are spoken for and taken. Of, course, any percentage can be overcome by enough winners at fat enough prices. However, you must first be able to identify when you have a "clean swing at a fat pitch." And this comes from developing an ability to interpret, and assimilate a much broader base of knowledge and information, than you are currently looking at. But it will be worth it, because you will be able to recognize "low-probability" trades, that have a high probability of being big winners. It will also give you the confidence you need to take trades, press trades, and add to your trades.

 
  #1717 (permalink)
Elite Member
Phoenix, AZ
 
Futures Experience: Advanced
Platform: Multiple
Favorite Futures: CL, ES
 
rubyslippage's Avatar
 
Posts: 76 since Jun 2012
Thanks: 26 given, 487 received


tigertrader View Post
Without a broader knowledge of the market and an understanding of the bigger picture you cannot develop a dependable sense and feel for the market. And while these set-ups are dependable to a degree, they tend to make you focus on the few broad outcomes that appear the most probable and probably the most obvious, and ignore the low-probability scenarios. And, its usually the moves you don't expect, that are often the most profitable, and which coincidentally, are often found at the beginning of trends.

However, you must first be able to identify when you have a "clean swing at a fat pitch." And this comes from developing an ability to interpret, and assimilate a much broader base of knowledge and information, than you are currently looking at. But it will be worth it, because you will be able to recognize "low-probability" trades, that have a high probability of being big winners. It will also give you the confidence you need to take trades, press trades, and add to your trades.

Your use of the phrases "low probability" and "dependable sense and feel for the market" is unclear to me.

I'm wondering if you're describing the difference between setups that "feel" comfortable or uncomfortable to trade (that one might think are low probability in real time because of the look/feel of them) and setups that have proven positive expectancy despite the fact they appear "scary" at the right edge.

If you run statistical analyses of setups (patterns) to determine their chances of hitting profit G before hitting stop L and identify contextual filters to know when to trade these setups and when to ignore them, you'll come up with high probability setups that still may look or feel very uncomfortable to trade in real time.

The following 7 users say Thank You to rubyslippage for this post:
 
  #1718 (permalink)
Elite Member
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,339 since Dec 2012
Thanks: 11,282 given, 7,092 received


rubyslippage View Post
Your use of the phrases "low probability" and "dependable sense and feel for the market" is unclear to me.

To me the phrases say 'infrequent and low risk' and 'where and why'.


rubyslippage View Post
If you run statistical analyses of setups (patterns) to determine their chances of hitting profit G before hitting stop L and identify contextual filters to know when to trade these setups and when to ignore them, you'll come up with high probability setups that still may look or feel very uncomfortable to trade in real time.

Yes indeed, and the statistics always give the 'how' or more accurately the 'how much' and 'how often', but they will never give you the 'why'. An old adage says if you know the 'how' you get to be a good worker but if you know the 'why' you get to be the boss. I do know the 'why' but I'm still a worker, darn it.

Travel Well
The following 7 users say Thank You to ratfink for this post:
 
  #1719 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
xelaar's Avatar
 
Posts: 1,517 since Feb 2013
Thanks: 1,739 given, 2,592 received


tigertrader View Post
Becoming a successful trader doesn’t happen by accident. It is exceedingly difficult to derive a method that is consistently profitable, and it is even more difficult to successfully apply such a method in actual practice. Near randomness and efficiency in the market almost guarantees failure. And, of course, the principle of ever-changing cycles works to force quick and drastic changes of results sequences when the public happens to get wise to a winning idea. But, you've been able to identify 3 precise patterns and execute trades to position, that demonstrate a statistical tendency behind these patterns. Managing the risk in the trade appropriately, perhaps "adjusting" the position as the trade develops.

On the surface, this appears to be a very positive development, and it is. But it can also be very limiting. When you trade patterns in the market–you actually trade the underlying imbalances that create those patterns, i.e., more buying than selling and the market moves higher and the converse. Patterns reflect this reality but don't explain what is driving price. Without a broader knowledge of the market and an understanding of the bigger picture you cannot develop a dependable sense and feel for the market. And while these set-ups are dependable to a degree, they tend to make you focus on the few broad outcomes that appear the most probable and probably the most obvious, and ignore the low-probability scenarios. And, its usually the moves you don't expect, that are often the most profitable, and which coincidentally, are often found at the beginning of trends.

Compared to trends, range trading, is far more difficult due to the random nature of short term price action and the omnipresent HFTs. Unfortunately, it is exactly in this environment where you are trying to "grind" it out. And if you read Bacon and substitute the market for the track, the "grind" privileges are spoken for and taken. Of, course, any percentage can be overcome by enough winners at fat enough prices. However, you must first be able to identify when you have a "clean swing at a fat pitch." And this comes from developing an ability to interpret, and assimilate a much broader base of knowledge and information, than you are currently looking at. But it will be worth it, because you will be able to recognize "low-probability" trades, that have a high probability of being big winners. It will also give you the confidence you need to take trades, press trades, and add to your trades.

An excellent post thank you! I am always amazed to listen when people say they don't care to know why market moves like that as long as they trade their lines, channels, averages and it works for them. I believe a thorough study of the markets, price discovery mechanism, different types of traders and their base strategies, and especially HFT approach and it heavy influence on market microstructure warrants deep understanding of market mechanics and will help to be able to stay in tune with the market and evolve as market does, and be able to keep discovering inefficiencies we call high probability trading opportunities.

Trade to live. Not live to trade.
The following 7 users say Thank You to xelaar for this post:
 
  #1720 (permalink)
Elite Member
Philly, Pa
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: ES, ZB
 
tigertrader's Avatar
 
Posts: 5,948 since Jul 2010
Thanks: 6,314 given, 31,870 received

Vic's Take on the Markets - Excerpted from the [SPEC-LIST] 04/16/2013


That one trades have an unerring capacity to avoid giving one a profit. If you hold a position over nite, they move so much that you can't hold them without staying up the whole nite, for two days in a row, which for most people is impossible. Other markets only let you get out of a position when it's going to go in your original direction by a fast 1 or 2% like sp over nite today. If they won't let you out then they are ready to go down 150 bucks like gold yesterday. when you try to trade them in normal hours they go bak and forth so thata your vig on a small sized position taking account of the bak and forth is inordinaly large to be unprofitble. when I trade gold, I find that it likes to move a fast 10 bucks in 2 minutes everry now and then so you can't leave limit orders profitably to catch the reversal. If your position is too large, it will move so far against you thata you will be margined out, especially over nite when you don't have data to provide a buffer as to which way it's going. If you appen to have a position in the rite direction and it moves a fast 10 bucks in your favor, why then it's impossible to get out. Within 1 1/2 bucks because only 1 or two contracts is bid or offered within 30 cents, and by giving up that much of an edge to trade a reasonable number of contracts, you lose your expectncy. If you trade with a small size, then the hourly wage from doing all the work is less than a construction worker. worst of all are the markets where just a few hardended members on t he rules committee make the markets. Many of the options markets are like this. They will maneuver the prices and the rules against you so that it's impossible to make a profit at the settlement or hold the position thru it because of marks and margins against you. if you trade for small gains and losses, that's worst of all becuase the high frequency people are ahead of you on each tick, so by the time you pay the bid asked and take account of the fact that you never get your limits until it's way against you like in the old pit days, you're giving up infinitelly more vig than at vegas. The book on baseball betting says that you only pay 2 1/2 % vig on baseball betting, much less than any other market or our market. However, you have to live in vegas to speculate there, and they treat you like a persona non-grata there and the chances for being comped or otherwise ennobled are close to zero. vic

The following 5 users say Thank You to tigertrader 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)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 07:53 PM.

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 2017-12-15 in 0.20 seconds with 20 queries on phoenix via your IP 54.163.61.66