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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #631 (permalink)
Elite Member
In the heat
 
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+3 ticks today. Tried to get long at the lows of the day, kept getting stopped out. This was based on the 30M chart which I have posted as well. I should just wait until I have a REAL signal on the 5M and then go long....

I got short just before the open. I trailed my stop by one bar, got taken out at the open and then it raced to my target of of 50 ticks....I could not find a safe place to reenter so I just watched it go by.

The early longs were an attempt to "get back at the missed short" by fading the move....I never do well with this type of trade. Its usually taken when I am frustrated and not all that well thought out. However, IF I wait for the actual signal, it did what I thought it would do which was make new highs....I thought the new highs were in the works as the downside targets were not met from the opening range as well as the trendline on the 30 min chart looked ripe for longs to come in. At one time I saw over 500 lots in the 105.65 area...lots of people getting long.

Several mistakes today, when I acted on the actual signal, I was able to make up for the mistakes. While not happy about the mistakes, I am happy to finish the day in the green...if just by a few ticks.

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Most people chose unhappiness over uncertainty, Tim Ferris
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  #632 (permalink)
Elite Member
Greensboro NC
 
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PandaWarrior View Post
+3 ticks today. Tried to get long at the lows of the day, kept getting stopped out. This was based on the 30M chart which I have posted as well. I should just wait until I have a REAL signal on the 5M and then go long....

I got short just before the open. I trailed my stop by one bar, got taken out at the open and then it raced to my target of of 50 ticks....I could not find a safe place to reenter so I just watched it go by.

The early longs were an attempt to "get back at the missed short" by fading the move....I never do well with this type of trade. Its usually taken when I am frustrated and not all that well thought out. However, IF I wait for the actual signal, it did what I thought it would do which was make new highs....I thought the new highs were in the works as the downside targets were not met from the opening range as well as the trendline on the 30 min chart looked ripe for longs to come in. At one time I saw over 500 lots in the 105.65 area...lots of people getting long.

Several mistakes today, when I acted on the actual signal, I was able to make up for the mistakes. While not happy about the mistakes, I am happy to finish the day in the green...if just by a few ticks.

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I like the white text, My day with the ES is bout same as yours, my own fault

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  #633 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
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Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


Better today....

Missed the premarket sell buy a few minutes, was still in the shower....Missed the buy in real time. Can't believe I didn't see it....then waited through news twice.....Helicopter Ben and the inventory report, started looking for a short after a 30M chart trend line touch, got the signal, looked for a pullback, and bam, 100 ticks without me, no pull back.
Waited for longs....got long early, out with 7 ticks...to early to the party....waited for the real signal, got in, could not believe I was in so far away from the EMA, bailed. BE....turns out, that was the correct signal.....No heat, price came back to the BE point and I finally got in for real. Problem was, almost time to step away from the office...So got 30 on it, and original target zone was hit and then a reversal followed shortly thereafter....Did not wait for pull back on this one, just went with it....covered at a logical retracement point on the move up.....and watched it drop another 100 ticks without me....

I ended +50 but wow, it could have been so much better.

Chart is messy today but it is real...exactly like I marked it real time.....even the one I missed in real time, I actually had the lines drawn.....sheese......

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #634 (permalink)
Site Administrator
Manta, Ecuador
 
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Brian,

Just want to applaud you for your journal and the consistency you've demonstrated, which is resulting in positive traction for your trading business.



Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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  #635 (permalink)
Elite Member
London, UK
 
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Big Mike View Post
Brian,

Just want to applaud you for your journal and the consistency you've demonstrated, which is resulting in positive traction for your trading business.



Mike

PandaWarrior,
in that light, it would be interesting if you could say whether you think your journal helps you and if so, how?

You can discover what your enemy fears most by observing the means he uses to frighten you.
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  #636 (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

I'm tired so not to much narrative today...suffice to say, it was a wild one....I'll post more later today after I've had a nap. +79 for the day.

About ready to ditch the moving average.....one more day and then I will decide.

Jing not working today so have to use the other one....

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #637 (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


Big Mike View Post
Brian,

Just want to applaud you for your journal and the consistency you've demonstrated, which is resulting in positive traction for your trading business.



Mike

Thanks Mike, I think I've finally stopped relying on indicators for the most part and just trading price action....we'll see.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #638 (permalink)
Elite Member
In the heat
 
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PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received


Adamus View Post
PandaWarrior,
in that light, it would be interesting if you could say whether you think your journal helps you and if so, how?

Its a love hate relationship...I hate the daily grind of posting most of the time, but the accountability to the process is good....I used to write for others, now I write for me. I want to have a record of what I did and why. I don't always get that why part in the post but I can look back at the historical record and make judgement calls....

However, one thing I don't post but I feel is of even more importance is your statistics....if you know your numbers, it gives you confidence a written record cant do on its own....so log the numbers, your win/loss ratio, your $ per win, $ per loss, time in winners, time in losers, MAE, MFE, etc.....these are really important....also know your draw down numbers. What's your average draw down....max losers in a row, winners in a row....all by themselves, these numbers are not individually important, but taken as a whole, you can get an excellent view of your trading..

For me, average time in winners vs average time in losers is becoming a big one......

anyway, hope this helps...

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #639 (permalink)
CL Assassin
Near Dallas, Texas, US
 
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Broker/Data: ZenFire
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PandaWarrior View Post
Its a love hate relationship...I hate the daily grind of posting most of the time, but the accountability to the process is good....I used to write for others, now I write for me. I want to have a record of what I did and why. I don't always get that why part in the post but I can look back at the historical record and make judgement calls....

However, one thing I don't post but I feel is of even more importance is your statistics....if you know your numbers, it gives you confidence a written record cant do on its own....so log the numbers, your win/loss ratio, your $ per win, $ per loss, time in winners, time in losers, MAE, MFE, etc.....these are really important....also know your draw down numbers. What's your average draw down....max losers in a row, winners in a row....all by themselves, these numbers are not individually important, but taken as a whole, you can get an excellent view of your trading..

For me, average time in winners vs average time in losers is becoming a big one......

anyway, hope this helps...

I agree with Mike's comment above. Congratulations on sticking with it and making some real progress in your trading career!

I think you hit the 'nail on the head' with your comment on building confidence with your statistics.

Really, this is a huge part of a successful trader. Building confidence helps remove/overcome fear, which is, in my humble opinion, the primary reason people are not able to execute on a good trading plan using the experience they have gained thru 100s of hours of screen time. This is also why people are able to make big $ on SIM, but then when switching to live/cash get their ass handed to them.

I think you know this already, but many are still struggling with this 'phase' of their trading career which can be a long one. I hope those same people will read your threads, and all of the many great threads on futures.io (formerly BMT) with regards to the psychology of trading, and really take to heart the importance of keeping a journal/statistics. How do you know where you are going, when you don't know where you have been, so to speak.

Keep up the nice work! I am confident your threads will serve as inspiration to the many other traders who are at various stages in their careers.

Gary

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  #640 (permalink)
Market Wizard
whitestone, new york
 
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bobarian's Avatar
 
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Gary View Post
I agree with Mike's comment above. Congratulations on sticking with it and making some real progress in your trading career!

I think you hit the 'nail on the head' with your comment on building confidence with your statistics.

Really, this is a huge part of a successful trader. Building confidence helps remove/overcome fear, which is, in my humble opinion, the primary reason people are not able to execute on a good trading plan using the experience they have gained thru 100s of hours of screen time. This is also why people are able to make big $ on SIM, but then when switching to live/cash get their ass handed to them.

I think you know this already, but many are still struggling with this 'phase' of their trading career which can be a long one. I hope those same people will read your threads, and all of the many great threads on futures.io (formerly BMT) with regards to the psychology of trading, and really take to heart the importance of keeping a journal/statistics. How do you know where you are going, when you don't know where you have been, so to speak.

Keep up the nice work! I am confident your threads will serve as inspiration to the many other traders who are at various stages in their careers.

Gary

i can say personally, that reading Pandawarriors journal has inspired me.To see a trader ascend to the next level, and continue on is rare.I may be wrong, but i havent seen many.I have wondered, what its like for Big Mike, who has seen this more than most of us.Great job guys!

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