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


The PandaWarrior Chronicles
Updated: Views / Replies:234,207 / 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

  #2091 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Hi Brian,
I don't mean to pry, but it piques my curiosity whenever you mention your private journal. Just curious to know if you maintain your paper-based journal because it's easier to write stuff by hand, or do you think it's not structured / complete enough to post here, or does it contain details of your edge you prefer to keep under wraps?

You can discover what your enemy fears most by observing the means he uses to frighten you.
The following user says Thank You to Adamus for this post:
 
  #2092 (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


Adamus View Post
Hi Brian,
I don't mean to pry, but it piques my curiosity whenever you mention your private journal. Just curious to know if you maintain your paper-based journal because it's easier to write stuff by hand, or do you think it's not structured / complete enough to post here, or does it contain details of your edge you prefer to keep under wraps?

I have elements of my daily routine I'd rather not make public, I make notes while in a trade, its is very structured with checklists, etc.....I draw things in there I could never duplicate online....

But its less about that than about my motivation to keep a public journal....and that has shifted over time to the point where I question its value. My private journal suffices for what I need a journal for.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 9 users say Thank You to PandaWarrior for this post:
 
  #2093 (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

i can’t tell you how many times...


a seemingly marginal trade, turned out to be extremely profitable, and a trade that appeared to have a high probability for success disappointed. there is always going to be uncertainty before a trade; which may not or may not be readily abated, upon initiation of the trade. but, you really don’t know until you’re in the market.

not so surprisingly, there are a lot of contradictions in trading. you have to be vigilant and patient, but on the other hand, you have to be creative and aggressive. you must synthesize these seemingly contradictory disciplines in the proper ratios and contexts, so that you can create upside optionality. keeping this in mind, we neither act on every signal, nor do we always wait for the perfect setup. in the case of over-trading, the implications are obvious. but when it comes to under-trading, the negative implications might not be so recognizable, although they can be equally responsible for under-performance or even ruin.

once again, i must reiterate, that it is imperative to have a logical understanding of positive expectation on a total outcome basis. and once again, i must reiterate, that risk in an inherent component, if not a prerequisite, of profit. failure to come to grip with either of these facts will inevitably inhibit your profitability as a trader. the obsessive hunt for “low risk” entry points, tight stop placement, trailing stops, hackneyed technique, and a myopic perspective, all contribute to the stultification of a trader's growth. one needs to operate from a perspective that allows one to avoid flawed assumptions and overly simplistic comparisons.

a trader does not have the responsibility to find the perfect spot to enter the market. the sooner he absolves himself from this guilt or fear, the better he will be for it. there is no perfect spot; and one's perception of a spot being better or worse, and even the perception of risk itself, is entirely assumption laden. perfect entry, being defined as an entry point where the market doesn’t have to move very far before you know you are wrong, is like trying to find the battery compartment lid of your remote control - an exercise in futility. so once again, i must reiterate, that trade initiation should be relegated to a tertiary role and sizing and management must become the primary focus.

the problem with being a breakout trader is you consider only two pieces of structural information, the high and low of a given time period, and ignore all the structure in between, and all the feedback from related markets. summary data does not present a complete picture of the market. the days of trading any instrument in a vacuum are gone; the markets are inextricably interconnected by theme and by arbitrage. there can be no alignment between concept, price action,and execution, if related markets are not scrutinized. understanding the context of the market leads to the ability to make fluid situational assessments and opportunity of position. a trader’s opportunity set will grow proportionally, as his “signal flow” grows, which will lead to vetted opportunities and high probability set-ups.

once a trade is initiated, subsequent trade management decisions should not be predicated on what the entry price was - the entry price (and your p&l) cease to have relevance, and has nothing to do with the validation of the trade. if your appraisal of the situational context of the market is accurate, and signals remain consistent with your expectation of the trade, you stay in the trade and add if you are given the opportunity. you exit when the trade is no longer good.

@PandaTrader once asked me what i meant by a trader’s attitude. and, as i contemplate past and present traders, there are a few traits that come to mind. a willingness to accept risk, the ability to estimate that risk based on the information available, the ability to recognize opportunity in a situational context, an understanding that expectation is different than distribution, and that p&l should be viewed over an extended period of time, and what i believe is #1 - the desire to do whatever is necessary to make money, even if it goes against your personal grain.


Last edited by tigertrader; February 1st, 2014 at 05:17 PM.
 
  #2094 (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


tigertrader View Post
a seemingly marginal trade, turned out to be extremely profitable, and a trade that appeared to have a high probability for success disappointed. there is always going to be uncertainty before a trade; which may not or may not be readily abated, upon initiation of the trade. but, you really don’t know until you’re in the market.

not so surprisingly, there are a lot of contradictions in trading. you have to be vigilant and patient, but on the other hand, you have to be creative and aggressive. you must synthesize these seemingly contradictory disciplines in the proper ratios and contexts, so that you can create upside optionality. keeping this in mind, we neither act on every signal, nor do we always wait for the perfect setup. in the case of over-trading, the implications are obvious. but when it comes to under-trading, the negative implications might not be so recognizable, although they can be equally responsible for under-performance or even ruin.

once again, i must reiterate, that it is imperative to have a logical understanding of positive expectation on a total outcome basis. and once again, i must reiterate, that risk in an inherent component, if not a prerequisite, of profit. failure to come to grip with either of these facts will inevitably inhibit your profitability as a trader. the obsessive hunt for “low risk” entry points, tight stop placement, trailing stops, hackneyed technique, and a myopic perspective, all contribute to the stultification of a trader's growth. one needs to operate from a perspective that allows one to avoid flawed assumptions and overly simplistic comparisons.

a trader does not have the responsibility to find the perfect spot to enter the market. the sooner he absolves himself from this guilt or fear, the better he will be for it. there is no perfect spot; and one's perception of a spot being better or worse, and even the perception of risk itself, is entirely assumption laden. perfect entry, being defined as an entry point where the market doesn’t have to move very far before you know you are wrong, is like trying to find the battery compartment lid of your remote control - an exercise in futility. so once again, i must reiterate, that trade initiation should be relegated to a tertiary role and sizing and management must become the primary focus.

the problem with being a breakout trader is you consider only two pieces of structural information, the high and low of a given time period, and ignore all the structure in between, and all the feedback from related markets. summary data does not present a complete picture of the market. the days of trading any instrument in a vacuum are gone; the markets are inextricably interconnected by theme and by arbitrage. there can be no alignment between concept, price action,and execution, if related markets are not scrutinized. understanding the context of the market leads to the ability to make fluid situational assessments and opportunity of position. a trader’s opportunity set will grow proportionally, as his “signal flow” grows, which will lead to vetted opportunities and high probability set-ups.

once a trade is initiated, subsequent trade management decisions should not be predicated on what the entry price was - the entry price (and your p&l) cease to have relevance, and has nothing to do with the validation of the trade. if your appraisal of the situational context of the market is accurate, and signals remain consistent with your expectation of the trade, you stay in the trade and add if you are given the opportunity. you exit when the trade is no longer good.

@PandaTrader once asked me what i meant by a trader’s attitude. and, as i contemplate past and present traders, there are a few traits that come to mind. a willingness to accept risk, the ability to estimate that risk based on the information available, the ability to recognize opportunity in a situational context, an understanding that expectation is different than distribution, and that p&l should be viewed over an extended period of time, and what i believe is #1 - the desire to do whatever is necessary to make money, even if it goes against your personal grain.

Brother, TT

If you have never contemplated composing a book on trading, you must do so immediately. Your insight on
all facets is startling.


grazie, for all you do


AJ
Nashville, Tennessee


"Life On The Edge of SR"
The following 13 users say Thank You to tderrick for this post:
 
  #2095 (permalink)
Elite Member
madrid spain
 
Futures Experience: Beginner
Platform: nt
Favorite Futures: None.
 
alejo's Avatar
 
Posts: 1,311 since Apr 2013
Thanks: 16,557 given, 643 received

tiger book


tderrick View Post
Brother, TT

If you have never contemplated composing a book on trading, you must do so immediately. Your insight on
all facets is startling.


grazie, for all you do

really, @tigertrader has gave me some key push with his lessons, thank you

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
The following 2 users say Thank You to alejo for this post:
 
  #2096 (permalink)
Live Your Bliss
Canary Islands, Spain
 
Futures Experience: Advanced
Platform: OA
Favorite Futures: What Moves
 
Anagami's Avatar
 
Posts: 701 since Dec 2010
Thanks: 474 given, 1,398 received

While reading @tigertrader 's excellent recent post, it occurred to me that a great exercise (for new AND not so new traders) might be making a random entry on your favorite instrument (ON DEMO) and then focusing on managing the trade (i.e. minimizing losses, maximizing wins).

This exercise may force one to deal with the market contextuality you speak of, instead of obsessing over 'setups' or 'perfect entries'. I would further surmise that the best traders would be profitable with a random entry, as their edge lies in position management and sizing... but that's just my intuition.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
The following 10 users say Thank You to Anagami for this post:
 
  #2097 (permalink)
Elite Member
Cincinnati Ohio
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Futures Broker
Favorite Futures: AUD
 
Silver Dragon's Avatar
 
Posts: 1,597 since Feb 2011
Thanks: 3,860 given, 3,318 received

Real life example outside of trading of finding an edge and hammering it home.

Robert


Quoting 
A talented “Jeopardy!” contestant has found a new strategy for winning the game, but his unique playing style has die-hard fans of the quiz show up in arms.

Arthur Chu is a three-time "Jeopardy!" champ who has won the competition using game theory. Instead of going for the easy questions first, he plays by jumping around the board in search of the coveted Daily Doubles. He also works to keep points away from his opponents.

“I don’t think I’m particularly smart,” Chu told The New York Post. “It was all about looking for the right strategy for studying and the right strategy for playing the game and drilling myself on it until it became second nature.”

But Twitter users have been quick to complain about Chu's strategies.

"Arthur Chu needs to stop. He's ruining Jeopardy," one fan wrote.

Another added, “Who is this dude that ruins the organization of the #Jeopardy board by hunting down the Daily Doubles? You give me a headache.”

But that kind of criticism doesn't bother Chu. He told The Post he plans to keep playing his version of the game, even if it angers some audience members.

“All of the things I’m doing are very obvious, logical ways to maximize your chances of winning that are well within the rules,” he said. “It’s hard for me to take seriously the argument that I should give up that kind of money just for the sake of making the viewing audience feel comfortable."

And some "Jeopardy!" viewers are seem to agree with him. They're praising Chu for shaking up the normally predictable game.

"Are people really upset about this guy's strategy? I think it makes sense and I'm surprised he's the 1st one to do it," one user noted. Another wrote, "Arthur Chu has been killing it on Jeopardy. Making it so much better. #Chu."


nosce te ipsum

You make your own opportunities in life.
The following 2 users say Thank You to Silver Dragon for this post:
 
  #2098 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,784 since Sep 2013
Thanks: 9,848 given, 11,155 received
Forum Reputation: Legendary

I just realized how much I miss reading panda's post here...

The following user says Thank You to tturner86 for this post:
 
  #2099 (permalink)
Elite Member
Vernon, BC, Canada
 
Futures Experience: Beginner
Platform: Sierra Charts
Broker/Data: Zaner Group (Transact)
Favorite Futures: ES
 
Posts: 103 since Apr 2010
Thanks: 113 given, 62 received


PandaWarrior View Post
Arggg...just when I thought things were getting better healthwise, I came down with a severe case of tendonitis in my wrist

I have been doing my stretches daily and it did keep pain at bay but doesn't seem to be the solution. I am trying a thumb roller ball. It is pretty easy to get used to. I put a piece of foam under my palm to keep wrist straight. After 30 years of mousing it may take a few days to catch onto roller mouse. My Logitech has a utility called Setpoint which allows me to adjust the roller ball to my needs. Yesterday was my 1st day and my pain is almost gone and I am pretty happy with the roller ball.
As for shoulder pain, are U using a keyboard tray? I had my mouse on desktop before and ended up with 18 months of a frozen shoulder, the keyboard tray helped a lot.
I continue with my wrist stretches and as I am new to the roller ball, I can't vouch for this as a solution, but I am finding it pretty good so far.

The following user says Thank You to Superdoug3 for this post:
 
  #2100 (permalink)
Trading Apprentice
Germany
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: CQG
Favorite Futures: ES, FDAX
 
Posts: 30 since Aug 2012
Thanks: 36 given, 57 received



PandaWarrior View Post

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Hi PandaWarrior,


Where can i find that ADR indicator? Thanks.


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)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 06:51 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 2017-12-13 in 0.17 seconds with 20 queries on phoenix via your IP 54.196.182.102