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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #1821 (permalink)
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josh's Avatar
 
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Good trade so far PW. At first, when looking at it, I thought that maybe this little trend line (blue in the picture) will be a problem. Like it or not, trend lines are used by people and they will buy blindly. But after looking at the larger picture, I think there's a very good shot at 3170, a good shot at 3090, and if you want to be a real baller, 2800. That is where the demand really originated from, and that green highlighted area has found buyers back in November, March, May, and July. The 2700s really represent unfair lows. The major hurdle IMO will be near where your target is now, around 3090, but if it goes through there, there is a great shot for 2800. Not suggesting you change anything of course, just presenting another viewpoint for your consideration.

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  #1822 (permalink)
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PandaWarrior's Avatar
 
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Thought I'd post a CL trade. I haven't done one in a while. I'm finished early so thought I'd get one in before I have to take off and do other things.

My CL trade was just a short off higher time frame resistance and to be quite fair, trading in the higher time frame noise. But I am an intraday CL trader so the HTF noise is my playground for the most part.

It was a 50 tick trade.....nice way to start the day.

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My 6E trade i've been holding now for a few days.....

Its been going sideways now for a number of bars.....so looking for it to either break down the rest of the way or reverse in which case I'll probably take it off......only my second forex trade and so not entirely sure how this could or should play out. At this point, there is no reason to exit.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1823 (permalink)
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Wow, two days in a row!

First short and the second long are suspect. First one the TL wasn't in yet....I was eyeballing it....and the second long was more of a hope and pray thing....which I cut short as soon as it my brain overrode my emotions.

Have to cut the trading day short today. Got things to do.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1824 (permalink)
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I've trailed my stop to 2XR and will leave it there until it either stops me out or hits target. I moved the stop here once price looked like it was not going to close below the little line I have drawn. Once it did, I was pretty sure it would make my target.

As I write this, its +201 and I've trailed stop to just behind the current bar. No sense in giving back more now that its getting close. I didn't anticipate it moving so fast toward my target. So the previous stop location was there so I could take off and not worry. But since its moved during my screen time, I am trailing.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1825 (permalink)
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time for one more

took my kid to school, got back and saw inventory was just finishing up, structure was good so took it. Closed it out as it stalled near the target which was yesterday's high.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1826 (permalink)
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I closed the 6E trade last night via a trailing stop while I slept....+165 ticks....not a forex home run but a real nice triple.....I'm reasonably happy about it....I still wonder if I took it off to soon but only way to find out sometime next week...


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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1827 (permalink)
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I traded ES for the first time today in forever

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And crude...

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1828 (permalink)
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An odd thing

This morning I had a very odd emotion come through me. I recognized it even as it happened. I've debated today about posting about it here on futures.io (formerly BMT). I'm not to sure about the worth it may have to any particular individual but here goes.

There were several things that led up to this emotion/thought today so I will attempt to abbreviate these things so as to spare the reader any unnecessary boredom.

1. Over the summer I lost motivation to post everyday. I did eventually start a blog on blogspot mostly for myself and a couple of friends that follow along occasionally. I wondered why this was so.

2. I watched another trader devolve into what I considered borderline insanity chasing the trading dream.

3. I watched another trader have a wonderful July and August only to blow up in the last few days and I saw how his mental and emotional state spiraled downward with his PnL.

4. A couple of days ago I wondered out loud to myself why I felt it needful to continue to post publicly. I honestly questioned myself as to why. Today the answer appeared. More on that later.

5. I've been considering becoming a vendor. I even have the website up and running. I've asked myself why I want this several times. Today I have the answer....more in a bit.

6. I started posting again a few days ago. Why I had no idea. I just felt like it.....today I have a different answer.

Ok, the aha moment. Today while I was watching a couple of traders have really bad days over the last few days and weeks; in wondering why I quit posting or why I started up again, wondering why I wanted to be a vendor, etc....I suddenly had the answer.

It was this. I had an overwhelming need for validation. I needed the opinion of others to justify my worth as a trader. This is a lonely business. No one pats you on the back, no one screams at you if you screw up (other than your spouse). The truth is, if you build houses, you have the satisfaction of a job well done, if you make your sales quota, the company sends you on a trip. If you write a book, people buy it and you become rich.

But in trading, no one does this. You rack your ticks and you walk away. Thats it. No ego stroking by your peers. No attaboys from the boss. No trips, no Rolexes, no nothing. Just silence.

And that is the reason I have been posting. That is the reason I wanted to be a vendor. Its because through these outlets, I can get people to validate me. Even if that meant random people who for the most part use an avatar and a screen name.....

The second this realization hit me....a strong almost physical sensation went through my entire body.....one of steely resolve. Resolve that I've only experienced once before. The last time I experienced this sensation was right before I began the drive to become one of the countries top mortgage originators. This resolve does not require validation from anyone, not even from myself. Why? Because who I am as a trader or as a mortgage originator is not who I am as a person.

Instead life is about faith, family and friends. Everything else is secondary at best.

So what changes will I be making based on this? Well for one, I'll post if and when I feel like it. I will keep my private blog up as I've found it to be quite valuable to me. I'll probably abandon my vendor idea. There's really no need for it. I like teaching and I like coaching....but its not necessary any longer. So I guess I'll take it as it comes...if it comes at all. The people I'm coaching now have come to me....and only one is paying, his choice.

More importantly, I can honestly say I've made trades in the past based on how it might look on the forum...not recently but it has happened. This will never happen again. I don't really care what other people think...good bad or indifferent. I finally feel free to trade the way I want to without worrying about what others say or think. Its a good feeling....

I'm rambling now but its because this was and is a rambling free flowing emotion....so I'll hang it up for now and if the muse hits to write further about this later on I will.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1829 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
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Nice post Brian. It always feels good when you can unearth something as profound as that.

To me, it's a social thing. Why have friends? The same answers lead to "why belong to a community", which futures.io (formerly BMT) is. It's a support network and a way to share ideas and have discussions with like minded people. Everyone has a friend, or maybe a friend of a friend, that is crazy. futures.io (formerly BMT) has it's crazies too. It's part of life The funny thing is, some of them probably think we are the weirdo's.... and thus, a market was made!



Mike

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  #1830 (permalink)
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PandaWarrior's Avatar
 
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PandaWarrior View Post
I closed the 6E trade last night via a trailing stop while I slept....+165 ticks....not a forex home run but a real nice triple.....I'm reasonably happy about it....I still wonder if I took it off to soon but only way to find out sometime next week...


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I don't have a chart right now but looks like I took it off perfectly....at least in terms of a trail stop. We'll see what happens going forward but I'm happy with the trade.

If I can get a couple more like that in 6E, I'll expand to maybe 3-5 other pairs and see how that goes. The idea being to spread risk around and look for opportunity wherever it exists. All while sizing appropriately.

The more I think about swing trading forex the more I like it. Mostly due to the ability to size correctly. Unless you have a sizable account, futures is tough to size right. Forex would allow me to sleep at night with correct position size.

So based on this, what is the consensus as to where to open a real account. Currently I have a very small account at FXCM. Mostly so I could use ninja trader with it. But I found this to be somewhat cumbersome as I couldn't get the data to work properly. So I'm using their web platform now. I refuse to use MT4 so anyplace where that's the only option is out. I'm open to suggestions.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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