The PandaWarrior Chronicles - Trading Journals | futures io social day trading
futures io futures trading


The PandaWarrior Chronicles
Updated: Views / Replies:234,251 / 2,157
Created: by PandaWarrior Attachments:213

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Closed Thread
 213  
 
Thread Tools Search this Thread
 

The PandaWarrior Chronicles

  #841 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Advanced
Platform: NT
Broker/Data: TD Ameritrade, Dorman/Zenfire
Favorite Futures: CL,ES
 
VinceVirgil's Avatar
 
Posts: 1,752 since Aug 2011
Thanks: 2,144 given, 9,180 received


Big Mike View Post
Nice 0 MAE entry

Mike

I concur... You have to love those MAE 0 entires.

Nicely done.

The following 2 users say Thank You to VinceVirgil for this post:
 
  #842 (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

Been struggling last few days with a serious problem. I scale out of my trades using a specific formula based on risk. This generally produces a net 1:1.5% RR.

Trouble has been this. Holding the second scale to full targets. Fear of losing what I already have on the screen. Yesterday I held a loser for almost an hour. To be fair, the original stop was not hit in that hour but the trade had stalled out and never really got above water. However, today, I had a few good trades on, and was unable to hold the second scale on all the trades. Out of 4 trades, only one was held properly. I see this as a significant mental problem.

After spending to many years looking for perfect entries that minimize or eliminates losers and finally coming to the realization that will never happen, I've finally learned the exit is just as important or perhaps more so than the entry. I don't feel like a beginner any longer, but this issue relegates me back to that status. Learning where to exit is both an art and a science. The science I have down pat. The art is more mental than anything else. Can you feel the market telling you the trade will continue as hoped or will turn and fail? Where to get to BE on the second scale? How much room and for how long....some science as well as art in this component as well.

I'm staying on sim a few more days while I work this issue out....I am getting better....just not good enough fast enough for me......

I left lots of money on the table today based on my method. I did pass on a trade as punishment for mismanaging the third trade.

Here's my
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

Last edited by PandaWarrior; June 7th, 2012 at 08:31 PM.
The following 7 users say Thank You to PandaWarrior for this post:
 
  #843 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received



PandaWarrior View Post
Been struggling last few days with a serious problem. I scale out of my trades using a specific formula based on risk. This generally produces a net 1:1.5% RR.

Trouble has been this. Holding the second scale to full targets. Fear of losing what I already have on the screen. Yesterday I held a loser for almost an hour. To be fair, the original stop was not hit in that hour but the trade had stalled out and never really got above water. However, today, I had a few good trades on, and was unable to hold the second scale on all the trades. Out of 4 trades, only one was held properly. I see this as a significant mental problem.

After spending to many years looking for perfect entries that minimize or eliminates losers and finally coming to the realization that will never, I've finally learned the exit is just as important or perhaps more so than the entry. I don't feel like a beginner any longer, but this issue relegates me back to that status. Learning where to exit is both an art and a science. The science I have down pat. The art is more mental than anything else. Can you feel the market telling you the trade will continue as hoped or will turn and fail? Where to get to BE on the second scale? How much room and for how long....some science as well as art in this component as well.

I'm staying on sim a few more days while I work this issue out....I am getting better....just not good enough fast enough for me......

I left lots of money on the table today based on my method. I did pass on a trade as punishment for mismanaging the third trade.

Great job on that discovery of exits being as equal (or more imho) important than entries. You're no where near a beginner level, you're great and it's enjoyable to keep up with you on here.

Something I say to myself to help in in those moments... "Trust myself, trust my strategy, where's the strength?, where's the weakness?, hold while the premise remains valid." One of the best traders I know says those things (and trades just like we do as far as style goes).

Keep up the good work my man.

The following 2 users say Thank You to indextrader7 for this post:
 
  #844 (permalink)
10 out of 10
Sacramento, CA
 
Futures Experience: None
Platform: None
Broker/Data: OX and DeCarley
Favorite Futures: Futures options
 
eudamonia's Avatar
 
Posts: 310 since Jul 2010
Thanks: 299 given, 424 received

@PandaWarrior

You are not a beginner. Yes, you may be frustrated with your trading. Yes, you may not be trading your best. But that doesn't take away from the fact that you are an awesome trader.

The following 2 users say Thank You to eudamonia for this post:
 
  #845 (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've been in a push toward more and more simplicity. I had a chart with some auto fib lines drawn, an opening range indicator, a current day OHLC, a prior day HL, daily pivots and what I have been discovering is that I don't really use those things that much. Worse, they sometimes put me off taking a perfectly good trade. So I figured if they weren't helping and sometimes hurt me, why have them.

The main reason I kept them so long was I was afraid of not having "context" or a fully naked chart. So I put those things on my higher time frame chart and I keep that minimized most of the time.

I still have a couple of indicators on my trading chart but here is what it looks like in terms of where my trades were today. I still keep the daily range indicator, the range and ATR indie at the bottom and of course the news indie. All of which I use constantly.

Arrows are trades I took and triangles are trades I could have and passed for some reason....the last one I was not at the screens so of course couldn't take it anyway, just marking it for posterity.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 8 users say Thank You to PandaWarrior for this post:
 
  #846 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Futures Experience: Advanced
Platform: Ensign, Ninja, Sierra, TradeStation & MT4
Broker/Data: CQG, TT & FinFX
Favorite Futures: indices/notes/currencies/ metals/energies
 
Posts: 368 since Oct 2009
Thanks: 143 given, 602 received

PW,

Have you ever thought that if price gets to 75% of your 2nd target a way of mechanically managing the trade @that point with logical WIGGLE room (enough for it to go to full 2nd target and tight enough to take SOMETHING in ticks if it reverses and eventually would come all the way back to your original entry)?

Reason I write that is that MANY professional traders use the concept of, if my trade gets to 75-80% of 'extended' target I will give it room to breathe but not enough to take it all back.

Some use volatility stop @that point or a 'time stop' (not my preference) or an 'overbalance' in the opposite direction or they use a mechanical trailing indicator for stop out @ the mentioned 75-80% of the extended target.

Good luck getting to the root of your issue. Stay the course.

peace

hedvig

The following 5 users say Thank You to researcher247 for this post:
 
  #847 (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


researcher247 View Post
PW,

Have you ever thought that if price gets to 75% of your 2nd target a way of mechanically managing the trade @that point with logical WIGGLE room (enough for it to go to full 2nd target and tight enough to take SOMETHING in ticks if it reverses and eventually would come all the way back to your original entry)?

Reason I write that is that MANY professional traders use the concept of, if my trade gets to 75-80% of 'extended' target I will give it room to breathe but not enough to take it all back.

Some use volatility stop @that point or a 'time stop' (not my preference) or an 'overbalance' in the opposite direction or they use a mechanical trailing indicator for stop out @ the mentioned 75-80% of the extended target.

Good luck getting to the root of your issue. Stay the course.

peace

hedvig

I've been experimenting with moving my trail to the 1st target if price gets to 75-80% of the second target...only done that once or twice and both times it cost me the second target.....but I still think its probably a good idea...

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 4 users say Thank You to PandaWarrior for this post:
 
  #848 (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

Anyone using this stuff with noticeably positive results?

HeartMath stress relief, resilience and wellness building tools

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following user says Thank You to PandaWarrior for this post:
 
  #849 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Futures Experience: Advanced
Platform: Ensign, Ninja, Sierra, TradeStation & MT4
Broker/Data: CQG, TT & FinFX
Favorite Futures: indices/notes/currencies/ metals/energies
 
Posts: 368 since Oct 2009
Thanks: 143 given, 602 received

Yes, but 2nd hand source.

My brother (he runs a GM Union Pension Fund in Detroit--don't hate on him for that please).

He has a kid on the way @44 years old (in addition to his 2 adopted children).

His commute is 45 minutes into the GM building each day so he reads it while his driver gets him to and fro. Then he uses it when he is frazzled at work and especially at home.

His older kid, now 12 stresses him out and his in-laws can do so as well (@times).

I turned him onto it after I posted about it in my journal (on another site 3/16/12); so I bought the Emwave 2 and 3 books/courses for him in late March--he is digging the vibe after 10 weeks {especially the Emwave 2}.

He is thinking of testing it on his 2 underlings {but not in an official capacity @GM}.

I don't have one because I don't have any stress (no kids/no wife/no boss) and am a deep-breath afficianado and I have done Yoga since my hippie mother introduced it to all of her kids around 30 years ago.

peace

hedvig

The following 2 users say Thank You to researcher247 for this post:
 
  #850 (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



researcher247 View Post
Yes, but 2nd hand source.

My brother (he runs a GM Union Pension Fund in Detroit--don't hate on him for that please).

He has a kid on the way @44 years old (in addition to his 2 adopted children).

His commute is 45 minutes into the GM building each day so he reads it while his driver gets him to and fro. Then he uses it when he is frazzled at work and especially at home.

His older kid, now 12 stresses him out and his in-laws can do so as well (@times).

I turned him onto it after I posted about it in my journal (on another site 3/16/12); so I bought the Emwave 2 and 3 books/courses for him in late March--he is digging the vibe after 10 weeks {especially the Emwave 2}.

He is thinking of testing it on his 2 underlings {but not in an official capacity @GM}.

I don't have one because I don't have any stress (no kids/no wife/no boss) and am a deep-breath afficianado and I have done Yoga since my hippie mother introduced it to all of her kids around 30 years ago.

peace

hedvig

Thanks for the input. I've noticed in my trading that during a trade, especially one that isn't moving very fast toward my target or one that has moved quickly toward target and then stalls just before the finish line, I start to lose the ability to think rationally about what is happening. This is not 100% of the time but often enough that it sabotages my PnL.

So reading the HeartMath book and realizing there might be a reason for the irrationality based on emotion, it seems plausible that this might work.

I'm also beginning this Knowledge Products : The Strategic Coach online store : books, audios, software, serials. | Strategic Coach® Knowledge Products. next week. I started once before but didn't really see the point but I think it is the kind of thing that helps keep a person centered and focused on whats really important. I was a client of Dan's coaching at one point and found his stuff to be some of the most simple yet most powerful I've ever come across....but also extraordinarily expensive....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

Last edited by PandaWarrior; June 8th, 2012 at 11:08 AM.
The following 2 users say Thank You to PandaWarrior for this post:

Closed Thread



futures io > > > The PandaWarrior Chronicles

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 04:23 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.17 seconds with 20 queries on phoenix via your IP 54.91.38.173