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


The PandaWarrior Chronicles
Updated: Views / Replies:234,555 / 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

  #181 (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

Another brilliant day on sim. I traded two methods today. My normal method. +35 ticks today. And a time based chart. +45 ticks there. The time based chart has better structure but the entries are easier to see on the range chart.

Gonna be trading both for a while. I like the time chart but still struggling with the stop size. I hope with a week or two of winning I will be able to overcome the emotional issues I have with the larger stops.

My central overriding concern is risk control. I can see entries all over the place but risk prevents most of those. I think I will just take the best set ups on sim, ignore the risk for now and get comfortable with proper stop placement on the time chart. Then I will focus on identifying lower risk trades.

For now though, starbucks is pretty crowded and I need to get out of here.

Cheers.

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:
 
  #182 (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: 29,354 given, 83,235 received


PandaWarrior View Post
For now though, starbucks is pretty crowded and I need to get out of here.



Enjoy your weekend with your family.

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 user says Thank You to Big Mike for this post:
 
  #183 (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


A couple more days on sim here at the corner Starbucks. I've switched from coffee to vanilla robius tea. Starbucks coffee is just to strong for my stomach to handle. I couldn't figure out why my stomach was so upset for a day or so and then I got it.....strong coffee. So over to tea I went and sure enough, stomach issues went away. Wish trading was that easy to figure out!

Anyway, another couple of days on sim and I should be able to go back to normal. The cable company swears they are almost done!

These last couple of weeks have been good for me. The total break week was great and then last week on sim revealed to me how much stress I put on myself. Getting rid of the fear of losing showed me how trading is supposed to be, boring and profitable. I had almost no trouble getting my ticks each day. I know sim and real money are different but the exact same price action played out for my sim trades as it did for someone else's live money trades with the exact same results. So I've decided that I put to much pressure on myself to be right 100% of the time. The sim trades were not 100% right and yet I got my ticks every day. Why not do this live?

Today was another simply brilliant display of trading prowess. +37 ticks on my 8range chart and +52 on the time based chart. Perhaps there was a bit of luck here. The early morning movement was near perfect for my signals and I took them all including a counter trend one that I highly doubt I would take with live money. Of course that one was the sole loser this morning.

I also increased my targets from 10 to 15 ticks and removed the tight trail stop. As long as I am on sim, I am gonna experiment with the removal of the tight stop. I didn't need it at all today but other days it has saved my bacon.

Anyway, I am done real early today. Time to head for the house.

Cheers.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 7 users say Thank You to PandaWarrior for this post:
 
  #184 (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

Went trick or treating last night with the kiddo. Walked the neighborhood for three hours. Ouch! My back was killing me. Overslept this morning by an hour. Finally made it to starbucks around 6:00. Missed the open, then had a hard time connecting to the wireless network. Finally got the charts up and running just before 6:30 in time to make a nice trade.

Then a few minutes later, another nice trade and bingo, done for the day. Spent the remainder of the time skyping with friends and reading the news.

+30 ticks today on two trades.

Should have my regular connection back on Thursday afternoon.

Cheers.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 4 users say Thank You to PandaWarrior for this post:
 
  #185 (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

Didn't trade last two days. I just didn't feel like driving to starbucks.

Yesterday I got my internet back and I spent a couple hours reconfiguring my network a bit. They gave me new equipment and sure enough it didn't work with my router so that took some time on the phone with the cable company to fix. Turns out it was a bad cable...my bad.

Anyway, stayed up late last night in an effort to force myself to sleep all night long. Lately I have been waking up several times during the night and not really sleeping well afterward. I hate that. So the effort paid off and I overslept.

Made it to the charts about an hour and a half past the open. Traded for 45 minutes, made 30 ticks and quit. Today was my last sim day. I will be back trading for real next week.

Spent some time playing with indicators as I had an overwhelming desire to change stuff around. After that desire was satisfied, I stripped them all away and went back to the same basic chart. I guess its ok to play around with indies as long as you treat them like a sickness, get rid of it as soon as possible!

Anyway, the idea of just relaxing, not putting to much pressure on myself, waiting for the opportune moment as Jack Sparrow puts it, is refreshing. I am not feeling the need to trade, nor am I feeling to impatient while waiting. This is all very new for me and I like it. Another thing I am liking is the slightly larger targets. It helps make up for the losers. I will probably leave it like that next week.

Cheers.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 7 users say Thank You to PandaWarrior for this post:
 
  #186 (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


PandaWarrior View Post

Gonna be trading both for a while. I like the time chart but still struggling with the stop size. I hope with a week or two of winning I will be able to overcome the emotional issues I have with the larger stops.

My central overriding concern is risk control. I can see entries all over the place but risk prevents most of those. I think I will just take the best set ups on sim, ignore the risk for now and get comfortable with proper stop placement on the time chart. Then I will focus on identifying lower risk trades.


Cheers.

Just my opinion, of course, but I believe that this introspective exercise does more harm to your progress as trader than it does good. While it is helpful for a trader to look at his performance, he can also over-analyze it, which leads to over-thinking and second guessing his every move. You can't avoid getting into trades, because you are afraid to lose, for 2 reasons; missed opportunity to profit, and forfeiting the opportunity to learn from losing. I learn more from my losing trades(days) than I do from my winning trades (days), so I embrace them. Losing trades gives me insight into the market's, volatility, and direction. Think of yourself as a boxer - if you want to be an effective fighter, you can’t be afraid to get hit. In fact, you learn a lot about your opponent’s strengths, weaknesses, and tendencies, while you are getting hit. If you think about it, losing is one of the best indicators, and is an invaluable tool. So, look to learn from your losing, rather than the explanation you create about losing.


Last edited by tigertrader; November 5th, 2011 at 12:27 PM.
The following 6 users say Thank You to tigertrader for this post:
 
  #187 (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


tigertrader View Post
Just my opinion, of course, but I believe that this introspective exercise does more harm to your progress as trader than it does good. While it is helpful for a trader to look at his performance, he can also over-analyze it, which leads to over-thinking and second guessing his every move. You can't avoid getting into trades, because you are afraid to lose, for 2 reasons; missed opportunity to profit, and forfeiting the opportunity to learn from losing. I learn more from my losing trades(days) than I do from my winning trades (days), so I embrace them. Losing trades gives me insight into the market's, volatility, and direction. Think of yourself as a boxer - if you want to be an effective fighter, you canít be afraid to get hit. In fact, you learn a lot about your opponentís strengths, weaknesses, and tendencies, while you are getting hit. If you think about it, losing is one of the best indicators, and is an invaluable tool. So, look to learn from your losing, rather than the explanation you create about losing.

I agree with you regarding learning more from losing trades. However, seeing how this game is all about self discipline and working within ones emotions, I disagree that introspection is bad. This particular post was about risk and being rational about it.

The larger stop size on a time based chart is outside my emotional tolerance right now, so recognizing that, I don't put myself in the position of seeing a good trade, taking it and then stressing out over the larger stop and potentially doing something stupid with the trade. Instead, I look to practice it, learn from the losers as you suggested and learn to recognize setups that meet my rules but also fit within my risk tolerance. Nothing introspective about that. Just sane trading in my book.

All that being said, this is just an exercise in between my normal trading where this entire discussion is a non issue.

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:
 
  #188 (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


PandaWarrior View Post
I agree with you regarding learning more from losing trades. However, seeing how this game is all about self discipline and working within ones emotions, I disagree that introspection is bad. This particular post was about risk and being rational about it.

The larger stop size on a time based chart is outside my emotional tolerance right now, so recognizing that, I don't put myself in the position of seeing a good trade, taking it and then stressing out over the larger stop and potentially doing something stupid with the trade. Instead, I look to practice it, learn from the losers as you suggested and learn to recognize setups that meet my rules but also fit within my risk tolerance. Nothing introspective about that. Just sane trading in my book.

All that being said, this is just an exercise in between my normal trading where this entire discussion is a non issue.

No doubt, introspection is good- too much, is certainly counter-productive.

You want to be able to just pull up, and take the jump shot - without thinking about the proper mechanics of the shot, each time you shoot the ball.

Yes, acquiring market knowledge, methodology proficiency, and risk management skills, is a relatively finite process. Developing mental skills can become an internal struggle and an infinite process, but is the necessary companion to knowledge and skill.

You must be confident, but ego-less; objective, but subjective; mechanical but analytical; focused but relaxed; disciplined but flexible; and patient but decisive.

There are a self-defeating emotions in all of us that blocks our minds and clouds our decisions. Improvement begins with changes in how we choose to think, act and be. Positive changes that will only be realized when we make a decision to learn to let go of the selfish me.

If you are looking for "setups that meet your rules but also fit within your risk tolerance." there is going to have to be a "premium" paid, one way or another. The market will not allow you to lower your risk for free.

There is always a price to be paid when it comes to trading, and whether you realize it or not, you're paying it.


Last edited by tigertrader; November 6th, 2011 at 01:15 AM.
The following 15 users say Thank You to tigertrader for this post:
 
  #189 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
monpere's Avatar
 
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,276 received


tigertrader View Post
You must be confident, but ego-less; objective, but subjective; mechanical but analytical; focused but relaxed; disciplined but flexible; and patient but decisive.

I think you are describing Mahatma Gandhi !!! No wonder 95% of traders fail


tigertrader View Post
If you are looking for "setups that meet your rules but also fit within your risk tolerance." there is going to have to be a "premium" paid, one way or another. The market will not allow you to lower your risk for free.

You start stalking a trade the moment the market shows you that trade might trigger within the next few bars, or whatever the basis of your method is. At the time of the trigger, if the risk is too large for your psyche, or for your method, you pass! Fewer trading opportunities is the statistical premium you pay. Watching some of those passed trades going on to be huge winners, that's the potential emotional premium you pay.

The following 6 users say Thank You to monpere for this post:
 
  #190 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,220 since Jun 2009
Thanks: 628 given, 6,318 received
Forum Reputation: Legendary



PandaWarrior View Post
Another brilliant day on sim. I traded two methods today. My normal method. +35 ticks today. And a time based chart. +45 ticks there. The time based chart has better structure but the entries are easier to see on the range chart.

Gonna be trading both for a while. I like the time chart but still struggling with the stop size. I hope with a week or two of winning I will be able to overcome the emotional issues I have with the larger stops.

My central overriding concern is risk control. I can see entries all over the place but risk prevents most of those. I think I will just take the best set ups on sim, ignore the risk for now and get comfortable with proper stop placement on the time chart. Then I will focus on identifying lower risk trades.

For now though, starbucks is pretty crowded and I need to get out of here.

Cheers.

you can merge range chart and higher time frame chart (for stop placement) together using FT indie https://futures.io/download/ninjatrader-7/indicators/749-download.html?view

Attached Thumbnails
The PandaWarrior Chronicles-6e-12-11-8-range-11_4_2011.jpg   The PandaWarrior Chronicles-setting.png  

Last edited by cory; November 6th, 2011 at 10:35 AM. Reason: clarification
The following 3 users say Thank You to cory 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 11:17 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 2017-12-16 in 0.16 seconds with 20 queries on phoenix via your IP 54.226.34.209