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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #371 (permalink)
Elite Member
Moscow
 
Futures Experience: Beginner
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Favorite Futures: ES, TF, 6E
 
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Big Mike View Post
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

I do that every day when I'm trading. Now I use PA around my indicators for entries and S/R area combined with fib levels for exits.

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  #372 (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

Excellent work...now what about stops? Assuming money is no object, where do the stops go for each entry you've noted?

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #373 (permalink)
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PandaWarrior View Post
Excellent work...now what about stops? Assuming money is no object, where do the stops go for each entry you've noted?

Usually I would put it 1-2 ticks above/below swing high/low, but sometimes you get retest of the area (complex pull back or ABC wave 2) and you can get spike for a couple ticks that would take you out. If money is no object I would put it 3-5 ticks away from swing high/low.
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  #374 (permalink)
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vovan348 View Post
Usually I would put it 1-2 ticks above/below swing high/low, but sometimes you get retest of the area (complex pull back or ABC wave 2) and you can get spike for a couple ticks that would take you out. If money is no object I would put it 3-5 ticks away from swing high/low.

Stops! You don't need stops! haha...

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  #375 (permalink)
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+45.

Had a lot of BE today. Had trouble holding the early ones.

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Cheers.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #376 (permalink)
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Great work today! I was thinking about your strategy after I was done and wondering how you would fare.

Seems a bit choppy but overall trendy on TF, so curious how that would transpire on CL.

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  #377 (permalink)
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Some larger time frame thoughts

I had some time so thought I would look at the daily and see what the swing trade ideas would look like.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #378 (permalink)
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+40 ticks.

Could have been more, took a small loss on the third trade when it didn't go straight down like I thought it would. Also did what I consider to be counter trend trades today. All those were small targets as I didn't want to be in them long.

All in all, a decent day.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #379 (permalink)
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In the heat
 
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I had a tough time reading PA today. It was a narrow range day to start with, my trading method doesnt work super well on days like this and so I had a mental block going in that it would be hard to trade.

I netted 22 ticks on 8 trades. To many to be sure. And I think I tried hard to manufacture trades where none existed. I decided to call it quits at +22 and preserve my capital for a better day.

You'll notice my chart has only one MA on it now. Its a 21EMA. I've tried all sorts of MA's over the last few years and have come to the conclusion it doesn't really matter which ones you use. Simpler is better especially on narrow range days. Just read price action, and be ready to get out if you are wrong. That being said, I still need something like an MA for context. Still not good enough for just straight price bars. In the future, I may put MA's back on and take them off. Whatever suits my mood at the time I guess. I like the cleaner chart though. Makes it easy to see whats going on.

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Here is the chart with all the MA's.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #380 (permalink)
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Have you ever tried line chart? I am sure you have. I have a chart on forex where I have a line chart and then a 1EMA for high and 1EMA for low but those are small.

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