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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #361 (permalink)
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bluemele View Post
What I mean is a visual backtest of how often between the time you trade will it be a really bad market condition for the method. Just something I do whenever I change something is look at market conditions of Christmas Past to see what could happen etc.. That is all I meant...


I would think that the only bad market condition is chop. If price is moving, there is no reason not to make
money.

Chop is even interesting because sometimes you can go to a pure scalping mode and shoot for
6-8 tick targets, especially if it has any wave pattern to it at all.

Scalping wears me out, however, so, In my eyes, chop is best avoided.

... of course, I am stating the obvious...

why did I post this?


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #362 (permalink)
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Trading like this is leaving me with some blanks in my trading ideas with regards to targets and possible counter trend trades. However, I managed to not screw it up to bad.

Net of 43 ticks although it could have been MUCH more. The red circle is a trade I passed on due to risk. And the blue box is a place I thought about getting long.

Entries were decent and the exits could have been managed better. End result +43 ticks. I gave back ten on the last trade. It was not per my plan and once I recognized I trade against the plan, I quit.

I've implemented a trail stop on my equity and if I am above 40 ticks, I'm willing to give back some but I won't go below 40.

Thats all until Tuesday. Cheers.

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  #363 (permalink)
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tderrick View Post
I would think that the only bad market condition is chop. If price is moving, there is no reason not to make
money.

Chop is even interesting because sometimes you can go to a pure scalping mode and shoot for
6-8 tick targets, especially if it has any wave pattern to it at all.

Scalping wears me out, however, so, In my eyes, chop is best avoided.

... of course, I am stating the obvious...

why did I post this?

Right. So, some instruments chop more on certain timeframes. So, if you change expand your trading to a higher TF, then you will end up having certain really bad days no matter what, but what does it look like, how will that affect your money management etc.. It was more of a question of: Will this eliminate more chop, if so, what are your expectations on what it will do to the rest of your stats, etc.. etc...

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  #364 (permalink)
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another idea

Here is something else I like. Not trading it but I like the look of it so keeping it around for something else to play with.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


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  #365 (permalink)
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some more stuff i am looking at

In an effort to focus on Price Action some more, I took all the lines and squigglies off the chart and just started marking swing breaks and what happened after those swings were broken.

Suffice to say, it has been an interesting exercise. I would like those of you that are interested to take my chart and mark it with your thoughts as well as where you think a good entry might be.

There are no support/resistance lines nor are there fibs drawn on this chart so for this exercise, targets are NOT applicable. Only worrying about entries here. Nor are we concerned about so called high probability entries as we all know they are 50/50. Lastly, stops are paramount here. After looking at this chart for an hour, I started wondering if the stops are a CLOSE beyond the most recent swing. Any ideas on that?

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Last edited by PandaWarrior; January 13th, 2012 at 05:31 PM. Reason: remove my thoughts to leave a blank screen for others to mark on
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  #366 (permalink)
Market Wizard
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PandaWarrior View Post
In an effort to focus on Price Action some more, I took all the lines and squigglies off the chart and just started marking swing breaks and what happened after those swings were broken.

Suffice to say, it has been an interesting exercise. I would like those of you that are interested to take my chart and mark it with your thoughts as well as where you think a good entry might be.

There are no support/resistance lines nor are there fibs drawn on this chart so for this exercise, targets are NOT applicable. Only worrying about entries here. Nor are we concerned about so called high probability entries as we all know they are 50/50. Lastly, stops are paramount here. After looking at this chart for an hour, I started wondering if the stops are a CLOSE beyond the most recent swing. Any ideas on that?

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just an observation, price came back below the trendline, so, a resumption of shorts to be expected.The 1st entry would have caused some sweating, but the 2nd entry, there is a LL and a LH,whis is nicer.Time of day, that i dont trade, but the pattern is good

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  #367 (permalink)
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PandaWarrior View Post
In an effort to focus on Price Action some more, I took all the lines and squigglies off the chart and just started marking swing breaks and what happened after those swings were broken.

Suffice to say, it has been an interesting exercise. I would like those of you that are interested to take my chart and mark it with your thoughts as well as where you think a good entry might be.

There are no support/resistance lines nor are there fibs drawn on this chart so for this exercise, targets are NOT applicable. Only worrying about entries here. Nor are we concerned about so called high probability entries as we all know they are 50/50. Lastly, stops are paramount here. After looking at this chart for an hour, I started wondering if the stops are a CLOSE beyond the most recent swing. Any ideas on that?

I'm not sure about trading from swing's highs/lows. I marked it with S/R levels. I think it's the best to wait for break out and see if fails or not. On setups #1,2,4 it failed at #3 I would probably go short because it didn't break through after second time. #5 broke support and it held as a resistance. There is 3 more shorts before #1 and if I traded with this strategy I would probably didn't take the first one. Then it was holding that resistance but I would probably take some losses in that area. Then it broke above and failed.

I cannot say that I'm a big expert in PA but this is what I see:
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  #368 (permalink)
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vovan348 View Post
I'm not sure about trading from swing's highs/lows. I marked it with S/R levels. I think it's the best to wait for break out and see if fails or not. On setups #1,2,4 it failed at #3 I would probably go short because it didn't break through after second time. #5 broke support and it held as a resistance. There is 3 more shorts before #1 and if I traded with this strategy I would probably didn't take the first one. Then it was holding that resistance but I would probably take some losses in that area. Then it broke above and failed.

I cannot say that I'm a big expert in PA but this is what I see:
Attachment 59711

The area where you were taking losses were HH/HL and would be an area of caution and wait for a new LH/LL etc..

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  #369 (permalink)
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bluemele View Post
The area where you were taking losses were HH/HL and would be an area of caution and wait for a new LH/LL etc..

Agree. That's why I think it's better to wait for break out, then see if it keeps making HL/HH or goes to LH/LL.

 
  #370 (permalink)
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vovan348 View Post
I cannot say that I'm a big expert in PA but this is what I see:
Attachment 59711

Good, now take a chart at current time, increase the right margin by a large amount (lots of blank space), and do the same thing forward in time, then wait and see how that works.

Mike

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