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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #1941 (permalink)
Elite Member
Greensboro NC
 
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Rad4633's Avatar
 
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@PandaWarrior @Deucalion

I too have been playing around with scaling recently I ve been watching your posts, I dont think it will be more profitable over AIAO but who knows, wish there was a guide line book

edit: I just saw where you guys move stop up on each LH which i agree, my first entry if pa goes against me I ride to next level up or down this is where I added then let stop ride up with LH....guess were all on the same page....Now one of you tell me if this is more profitable than AIAO on 80% of range days, I know other trend days this method would kill it.. So whatcha think lol

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Last edited by Rad4633; December 13th, 2013 at 03:24 PM.
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  #1942 (permalink)
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Rad4633 View Post
@PandaWarrior @Deucalion

I too have been playing around with scaling recently I ve been watching your posts, I dont think it will be more profitable over AIAO but who knows, wish there was a guide line book

edit: I just saw where you guys move stop up on each LH which i agree, my first entry if pa goes against me I ride to next level up or down this is where I added then let stop ride up with LH....guess were all on the same page....Now one of you tell me if this is more profitable than AIAO on 80% of range days, I know other trend days this method would kill it.. So whatcha think lol

Brian already mentioned (and so did I) that mathematically AIAO is the purest and most profitable of them all as long as you have positive expectancy. SIAO adds profit, if you are able to add for incremental profit while moving your collective stop tighter (I use ATR stops for this), theoretically - the idea is, let the ATR stop move up or down and then add positions on pull-backs to some median price (middle of Bollinger, on touch of 10EMA, something like that). Or retest of broke S/R

Secondly, the example you mention the context is off in my opinion.....on your image, why is this a long? If the idea is to add on weakness in a strong market or on strength in a weak market then look at your picture again. Where is the dominant current force. What is the difference between the two patterns below, what is the higher probability direction?

If you are long here, you are currently against the current trend, there is little justification in my book to add to what looks like a CT Trade.

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If you did want to add on your CT Trade, this maybe one way =

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But this is too dangerous IMO, I would not do this. I would stick with AIAO if I was long today

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  #1943 (permalink)
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Here is an actual trade I took today on NQ, it wasn't a long. I had an idea, I had a GO-NOGO level and I built a position around it until the dominant force revealed itself.

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PS - this was my one and only winning trade, I had 3 - 2 were wrong, the third had more than enough expectancy in it.

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  #1944 (permalink)
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@Deucalion Thx for the reply...yes I know AIAO is better from my testing but when ur right ur right add CT or trend if u know correct target and levels.. I took the trade off RGD divergence and others once confirmed I added till target was met. I agree with you on trend is your friend

Boy I need to read more before I post, but sometimes I just throw it out there for response....and then leave it up to you to have a stern reply back,lol you wrote "dang that trend was down man r u stupid" sorry for me not seeing that.... Lmao but I gotcha....

ttys Have a Great weekend all

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  #1945 (permalink)
Market Wizard
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I'm not a scale in or scale out person. but if I absolutely had to build a position, it would definitely be a long position in my books.

pretty significant support, almost textbook

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  #1946 (permalink)
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Silvester17 View Post
I'm not a scale in or scale out person. but if I absolutely had to build a position, it would definitely be a long position in my books.

pretty significant support, almost textbook

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Yes, I concur, but is that expected on an intra-day time frame? Also, first touch is already done, and far more importantly, where is the stop on that big chart. You could easily go 5/6points further down without violating the support idea. If that is the stop, then the target must be 12-15points. Does one reasonably expect that range intra-day given the current ADR on ES. Now if you said, swing trade, then yes.

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  #1947 (permalink)
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Deucalion View Post
Yes, I concur, but is that expected on an intra-day time frame? Also, first touch is already done, and far more importantly, where is the stop on that big chart. You could easily go 5/6points further down without violating the support idea. If that is the stop, then the target must be 12-15points. Does one reasonably expect that range intra-day given the current ADR on ES. Now if you said, swing trade, then yes.

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lets put it this way. even day trading with smaller stops and targets, I would have a hard time to go short at these levels.

and if you want to play bigger moves, then probably a swing trade is needed. but that's not what I do with futures.

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  #1948 (permalink)
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PandaWarrior View Post
And I like that the trades take so long to develop and to play out. Its much less stressful than day trading.

I wish I had done this from the beginning. I'd still day trade because I like it but the forex swing trading has tons of potential but more important, it requires patience and discipline to wait for the set ups....much more than day trading. The difference I am trading 4 hour charts instead of 5 minute charts or even tick charts. Its like comparing apples and oranges. Its just much easier.

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With Low Volatality in CL and other instruments, I turned into Swing Trader( 1 or 2 trades max. per day), next step is changing into Position Trader holding multiple days. It is helping me much better than Day trading.

Here is an interesting article on Day Trading .
11 Or 12 Things I Learned About Life From Day Trading Millions Of Dollars | TechCrunch

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  #1949 (permalink)
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EdgeExecution View Post
With Low Volatality in CL and other instruments, I turned into Swing Trader( 1 or 2 trades max. per day), next step is changing into Position Trader holding multiple days. It is helping me much better than Day trading.

Here is an interesting article on Day Trading .
11 Or 12 Things I Learned About Life From Day Trading Millions Of Dollars | TechCrunch


Thank you for the post, I added the link to my Quick Summary page at the beginning of the thread....That is an important article....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #1950 (permalink)
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recommend book



PandaWarrior View Post
I've added 4 more pairs to my forex trading. The forex trading is going pretty well, enough so that I think I may begin to feed some money into it slowly and perhaps begin to trade all five pairs. The trades are lasting anywhere from 3 days to a month with losers in the 30-70 pip range and winners in the 150-300 pip range with scale in ability so the winner is MUCH larger than the loser.

I LOVE the ability to size properly. It allows me to take trades and place stops that I would have never been able to take otherwise....and then scale in as it progresses. And I like that the trades take so long to develop and to play out. Its much less stressful than day trading.

I wish I had done this from the beginning. I'd still day trade because I like it but the forex swing trading has tons of potential but more important, it requires patience and discipline to wait for the set ups....much more than day trading. The difference I am trading 4 hour charts instead of 5 minute charts or even tick charts. Its like comparing apples and oranges. Its just much easier.

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Hi @PandaWarrior, hope all is great with you.
I guessing there might be numerous, but if you were inclined to only recommend a book for a beginner interested in swing trading forex. What would it be?
Thanks in advance and Happy Holidays


Last edited by learning0101; December 13th, 2013 at 09:11 PM.
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