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The PandaWarrior Chronicles
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The PandaWarrior Chronicles

  #671 (permalink)
Elite Member
In the heat
 
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PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
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update

added another 20...+80 on the 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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  #672 (permalink)
Elite Member
Williamsburg, VA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
worldwary's Avatar
 
Posts: 523 since Mar 2010
Thanks: 259 given, 788 received

What have you been doing today in terms of scaling in/out?

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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  #673 (permalink)
Trading for Fun
GrandRapids, Michigan
 
Futures Experience: Intermediate
Platform: NinjaTrader
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PandaWarrior View Post
added another 20...+80 on the day

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Nice!!

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  #674 (permalink)
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worldwary View Post
What have you been doing today in terms of scaling in/out?

I was all in all out today. I had a feeling as price started moving down, cant justify it based on my early statement I would never trade another way again...but for some reason, it seemed like the right thing to do....smaller size to be sure than my normal scale out size, but I made more money on the smaller size AIAO than I would have on the scale out......

I should also add that the -20 i had earlier was because I overslept, got there late and saw I had missed a great long entry and so I took a break of the OR...stupid really.....I mean, its a valid trade but I dont trade it...so why start now?

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #675 (permalink)
Elite Member
La Jolla, CA
 
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PandaWarrior View Post
added another 20...+80 on the day

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Great job! Be careful on the pit open trades. Price tends to really swing around at the open. Way to hang on to a winner though on your second trade. That was an amazing move down! Then that last move was icing on the cake!

Cheers,
PB

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  #676 (permalink)
Elite Member
In the heat
 
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Posts: 3,155 since Mar 2010
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Alternating higher highs and lower lows today....

I was long early, the scale out got me to break even status after 20 minutes and the trade being underwater most of that time.....but correct stop placement made all the difference. The OR breakout failure virtually guaranteed some downward movement and so entered short at break of previous swing low. Good for 3 scale outs.

Then I took a bit of a break, came back, set down, and within a few minutes had a complete system failure. Had a minor power surge at the house, and every thing went down. Including the battery back up. Ugh.....anyway, go it working again and decided to play around a bit with something I've been thinking about in terms of looking at the market somewhat differently and using limit orders to enter a short on the way up and stop orders to add to the position on the way down. Because of the system failure, I was unable to get orders in at the locations I wanted so tried to get them filled approximately where I wanted them but still was unable to There wasn't much movement so that didnt work to well but had my system not gone down, it would have worked out fairly well. Not fantastic of course but no worse than break even.

Then it was time to head out....and I missed the best structured move at least in terms of how I like to trade. That was good for all three scale outs.....

Next week I will be splitting my sim time between scale out and possible scale in ideas. My thinking is I may need to go down in time frame a bit to get the scale in locations....or simply add every time a bar is broken in a trend...not sure how to actually do this. Someone told me to add an 8EMA and add there if price pulled back to it. I may do that but not sure if I want another MA on the chart.

My goal is to average 50 ticks a day net per contract next week.

Depending on how well I do with the scale in approach, I will implement some of it the following week.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #677 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
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Congratulations on your journal!



In the spirit of our March Trading Journal contest, I am asking everyone to spend a few minutes and share their journaling experience.

A) What are the top five benefits you have seen as a result of regularly posting in this journal?

B) What are the top five problem areas you have identified as a result of regularly posting in this journal?

C) Were you initially reluctant to start this trading journal? If yes, why?

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E) Would you recommend to others that they should also start a trading journal?

Thank you for taking the time to answer my questions. I appreciate your posts, and I hope you have benefited from your journal. I also know that others will benefit as well, just by reading about your own experiences.

Enjoy your weekend,
Mike

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  #678 (permalink)
Membership Revoked
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PandaWarrior View Post
added another 20...+80 on the day

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Now you're starting to get it! It's important to ride the big moves for what they're worth; it really improves one's equity curve.

Great job!

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  #679 (permalink)
Elite Member
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Looking good, my friend.

Holding on to trades longer.

Lets catch up. I'll buzz you tomorrow sometime.... what is a good time for you?


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #680 (permalink)
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tderrick View Post
Looking good, my friend.

Holding on to trades longer.

Lets catch up. I'll buzz you tomorrow sometime.... what is a good time for you?

Sunday afternoon would probably be best....I wont be sitting at the computer but I'll take the headphones out of my machine so I can hear skype calling....anytime you are free in the afternoon is fine.....

Talk to you soon....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

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