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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #591 (permalink)
Elite Member
In the heat
 
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bluemele View Post
Now that you are on 5 min, are u keeping with same stops or extending them some?


They are dynamic....try to risk only the entry bar if possible. If its a really big bar, I wont enter.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #592 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
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PandaWarrior View Post
4 trades, one was a mistake I was able to get out of at BE, the two 30 tick winners were pretty much text book entry and exits for me and the +10 was a nice entry but for some reason I saw a lot of support along with the fact we had just come down quite a bit from the trend line.....i was worried about stop placement so rather than worry about it, I just took it off at ten.

+70 ticks today.

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Nice work today. Area 104.60 -105.00 has been S/R all session.

70 ticks is a very good day.

I remember you saying that 30-50 ticks a day is what you targeted (If memory serves me correctly) With using the 5 minute, and seemingly longer targets, have you revised your count?

Seems like your number of trades is down to, something i recognise when I first switched to the CL. I dont know if that is your experience.

Seems like your are very comfortable with the longer time frame.

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  #593 (permalink)
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VinceVirgil View Post
Nice work today. Area 104.60 -105.00 has been S/R all session.

70 ticks is a very good day.

I remember you saying that 30-50 ticks a day is what you targeted (If memory serves me correctly) With using the 5 minute, and seemingly longer targets, have you revised your count?

Seems like your number of trades is down to, something i recognise when I first switched to the CL. I dont know if that is your experience.

Seems like your are very comfortable with the longer time frame.

I noticed the swings where I would be getting in were almost always paying 30 ticks. Sometimes more, but even on the crappy days, 30 seemed to be the sweet spot. So 25-30 ticks is the target and at least the last couple of days, I've been pretty comfortable with the 30 tick target.

I estimate there will be 3-6 trades a day IF I sit around and watch it all day long. I am looking for 2-4 normally and I think if I get two 30 tick trades off and perhaps a 10 or 20 tick trade I am doing really good.

Of course there are entries that will pay much more than 30, but 30 seems to be an all around good target.

So, I'll go with it for now.....I am still watching the one minute and may continue to take trades off it but they will be 10-15 tick scalps for the most part.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #594 (permalink)
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Cucamonga, CA
 
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PandaWarrior View Post
4 trades, one was a mistake I was able to get out of at BE, the two 30 tick winners were pretty much text book entry and exits for me and the +10 was a nice entry but for some reason I saw a lot of support along with the fact we had just come down quite a bit from the trend line.....i was worried about stop placement so rather than worry about it, I just took it off at ten.

+70 ticks today.

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WTG !!!!


Last edited by kalalex; March 7th, 2012 at 01:26 AM.
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  #595 (permalink)
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desert CA
 
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Very nice Panda, going from 1min to the 5min swings with the same method. Have you thought about having a second 1min chart for scalping the smaller volatility/volume areas or you're going to just stick to fewer trades now? Thanks.


Last edited by Cloudy; March 7th, 2012 at 03:08 AM.
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  #596 (permalink)
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-12 today. Was in a fog most of the day, couldnt figure out where price wanted to go. Got frustrated with the large entry bars. In general was out of sync with everything today.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #597 (permalink)
Market Wizard
virginia
 
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next week, rollover madness begins!

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  #598 (permalink)
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Honolulu, Hawaii
 
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PandaWarrior View Post
-12 today. Was in a fog most of the day, couldnt figure out where price wanted to go. Got frustrated with the large entry bars. In general was out of sync with everything today.

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This was not you... Sometimes your date is just a real bitch.

 
  #599 (permalink)
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virginia
 
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cory View Post
next week, rollover madness begins!

correction: official rollover date is today 3/8/12 not next week let madness begins.

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  #600 (permalink)
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cory View Post
correction: official rollover date is today 3/8/12 not next week let madness begins.

CL is next week....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

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