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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #211 (permalink)
Elite Member
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PandaWarrior View Post
Wait, then wait some more, finally just when you think you cant stand it,wait a little longer. Only then do you trade.

Pdub - you should check out "zen and the art of poker" - you will laugh out loud at the first several vignettes in that book. Literally the first 17 or so sections are about folding, folding some more, then folding, and starting to really focus on folding, then just straight up folding... then not getting upset about folding, etc, etc.

awesome

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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  #212 (permalink)
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Surly View Post
Pdub - you should check out "zen and the art of poker" - you will laugh out loud at the first several vignettes in that book. Literally the first 17 or so sections are about folding, folding some more, then folding, and starting to really focus on folding, then just straight up folding... then not getting upset about folding, etc, etc.

awesome

I heard an interview somewhere and the guy was talking about the art of folding. He thought it was the key to winning. Fold and then fold some more....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #213 (permalink)
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I will be switching to the Jan 2012 contract tomorrow.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #214 (permalink)
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For Posterity

Its eleven pages long but an excellent article about decision fatigue. There are lots of ramifications for traders here.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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The PandaWarrior Chronicles-do-you-suffer-decision-fatigue_-nytimes.pdf  
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  #215 (permalink)
Market Wizard
virginia
 
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PandaWarrior View Post
..
After today, I will look for a way to re-enter on a strong trend day.

pretty easy watch for something with shorter interval bounces off something with longer interval, 5 period bounce off 20 period for example.

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  #216 (permalink)
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cory View Post
pretty easy watch for something with shorter interval bounces off something with longer interval, 5 period bounce off 20 period for example.

I do this but i got no signals yesterday on this type of action. Price just ran away from my trading method in the morning. To be fair, i use slightly longer periods but still, on a normal run, I'll get two or three entries. Not yesterday.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #217 (permalink)
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Couldn't get in focus today. First two trades were full losers, which put me real close to my daily stop, so I did my best to just wait. I got set ups that were to rich for me, so I passed. Then had a decent winner, followed by another full stop out.

Looking back at the chart, I think I would have done the same thing again except for the first two. They were clear violations of my rules. Trouble was, I didn't recognize it at the time. I had a full on short bias and even though my one minute chart was in consolidation, I saw a trend and I was determined to get on board faster than my chart would allow me.

An excellent example of impatience and being blinded by what I thought I saw vs what I was actually seeing.

No excuses today. Just poor execution all around.

-30 ticks net

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #218 (permalink)
Market Wizard
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PandaWarrior View Post
I do this but i got no signals yesterday on this type of action. Price just ran away from my trading method in the morning. To be fair, i use slightly longer periods but still, on a normal run, I'll get two or three entries. Not yesterday.

then it was out of your realm. You were in the unknown territory, process with utmost caution.

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  #219 (permalink)
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cory View Post
then it was out of your realm. You were in the unknown territory, process with utmost caution.


I agree, and I did not trade it at all. I waited until I saw something I recognized.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
  #220 (permalink)
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Milan Italy
 
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cory View Post
pretty easy watch for something with shorter interval bounces off something with longer interval, 5 period bounce off 20 period for example.

How do you tell the difference between simple bounce and double bounce retraces? (i.e., a single retrace and continuation vs an ABCD (or consolidation period) that takes out the stops of those who assumed it would be a simple retrace)


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