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


The PandaWarrior Chronicles
Updated: Views / Replies:234,085 / 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 Ė 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 donít 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

  #901 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

PW, this is probably a dumb question but does your system give you trades that go a 100 ticks? The system I'm using doesn't give me license to hold a trade any further than the next S/R level and then I've got to bail. I mean, I don't think my entry signals give me big trades.

If I hold a trade beyond the first S/R level, unless the next one is seriously close, I keep thinking, what gives me reason to stay in this trade? What makes me think I shouldn't bail out before a retrace kicks in and takes 25%, 50% or all of my profit away from me?

Isn't it better to bank the profit and then look at the action around the S/R, getting back in if the price action gives another entry signal?

This is Euro/US I'm talking about - maybe Crude is different.

You can discover what your enemy fears most by observing the means he uses to frighten you.
The following 3 users say Thank You to Adamus for this post:
 
  #902 (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


Adamus View Post
PW, this is probably a dumb question but does your system give you trades that go a 100 ticks? The system I'm using doesn't give me license to hold a trade any further than the next S/R level and then I've got to bail. I mean, I don't think my entry signals give me big trades.

If I hold a trade beyond the first S/R level, unless the next one is seriously close, I keep thinking, what gives me reason to stay in this trade? What makes me think I shouldn't bail out before a retrace kicks in and takes 25%, 50% or all of my profit away from me?

Isn't it better to bank the profit and then look at the action around the S/R, getting back in if the price action gives another entry signal?

This is Euro/US I'm talking about - maybe Crude is different.

Crude regularly has 150-300 and even larger tick days. Its not that I want 100+ trades, its that I want to give myself the opportunity for trades greater than 1:1 based on risk and potential reward that CL has typically granted to traders more patient than I. If my R:R gets me in the 100+ tick range for possible targets, I want to develop the ability to sit in the trade long enough to realize it. Some days this can happen in a few minutes on CL and other days it can take all day.

For me, the question about taking profits before a pull back has haunted me my entire trading career. Its a valid question. I think if you take profits off before a retrace, just get good at finding the swings. I am attempting to solve this issue with staged exits at pre-determined R:R levels with the potential for a longer runner. Its the only way I can solve the emotional issue you've described. Its less than optimal in terms of absolute return but in the long run, it probably works better than an all in all out scenario where you often settle for far less than whats possible due to the problem of taking profits early or letting winners turn to losers. With scale out, you can take risk off and then be able to think more rationally about the remainder of the trade. At least that's the theory anyway.

I think the way you mentioned is valid, you need good skills to overcome the slippage and transaction costs. Its possible but I am beginning to believe that fewer trades holding for larger targets is far better. The only real caveat is this...make sure the targets aren't arbitrary. Make sure they are based on some sort of repeatable logic, otherwise its just random.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 9 users say Thank You to PandaWarrior for this post:
 
  #903 (permalink)
Membership Revoked
British Columbia
 
Futures Experience: Advanced
Platform: NINJA
Broker/Data: ZEN
Favorite Futures: Crude
 
Posts: 1,091 since May 2010
Thanks: 192 given, 484 received


I'm thinking musical instrument might help, never too late....


PandaWarrior View Post
Seriously though, I need to find something constructive to help me keep my fingers off the mouse. Otherwise its an exercise in supreme self control....I have some but perhaps not enough......but I can distract myself with something and it will seriously help I think....


The following user says Thank You to syxforex for this post:
 
  #904 (permalink)
Elite Member
Argentina
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Zen Fire / IB
Favorite Futures: ES, TF, 6E, CL
 
gtichauer's Avatar
 
Posts: 379 since Jul 2009
Thanks: 807 given, 296 received

HAPPY FATHER'S DAY TO ALL FATHERS FOLLOWING THIS GREAT THREAD !!!

Few thing in life are so rewarding like having a child, so today is a day to enjoy with family......at least in some countries in America...

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

GT
The following 6 users say Thank You to gtichauer for this post:
 
  #905 (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


gtichauer View Post
HAPPY FATHER'S DAY TO ALL FATHERS FOLLOWING THIS GREAT THREAD !!!

Few thing in life are so rewarding like having a child, so today is a day to enjoy with family......at least in some countries in America...

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

Your kid sure is growing up.....beautiful as well......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #906 (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

One and done

well two and done....got taken out by an outside bar while trailing one bar back....two bars back is better but still haven't got the stomach for that just yet but getting there.

I got to the charts after a sell off had already happened which always makes me pause and think. So i waited a bit for price to make its mind up. I almost went long but decided to just wait it out and sure enough, got an inside bar closed short. I went short there and got my first scale. Then trailed and got taken out.

Then I waited until I saw another outside bar and went short at the bottom of the bar. i tried to get short a bit higher but no fill so had to settle for the close. It was also the bottom of the opening range bar I use and so this represented a decent area to get short.

However, I elected to use the same targets as the first trade as that trade was still valid. This turned out to be a good idea as price reversed hard after reaching those targets. I scaled out at what would have been 2XR on the first trade and then had my target at 4XR. Price got within about 15 ticks of 4XR and so i trailed to +20 ticks. This got taken out and subsequently price went to 4XR and reversed.

While i am typing this, price has reached 1XR on the counter trend signal. But I really don't like counter trend trades that much but I do see them. I would have been all out at 1XR on a CT trade.

I am expecting some non directional momentum at this point. We'll see. I'm mostly gonna watch from now on.

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


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:
 
  #907 (permalink)
Elite Member
Holland, Michigan
 
Futures Experience: None
Platform: ninjatrader
Broker/Data: CQG
Favorite Futures: Acoustic Guitar
 
trs3042's Avatar
 
Posts: 1,802 since Jun 2009
Thanks: 23,771 given, 5,600 received


PandaWarrior View Post
well two and done....got taken out by an outside bar while trailing one bar back....two bars back is better but still haven't got the stomach for that just yet but getting there.

I got to the charts after a sell off had already happened which always makes me pause and think. So i waited a bit for price to make its mind up. I almost went long but decided to just wait it out and sure enough, got an inside bar closed short. I went short there and got my first scale. Then trailed and got taken out.

Then I waited until I saw another outside bar and went short at the bottom of the bar. i tried to get short a bit higher but no fill so had to settle for the close. It was also the bottom of the opening range bar I use and so this represented a decent area to get short.

However, I elected to use the same targets as the first trade as that trade was still valid. This turned out to be a good idea as price reversed hard after reaching those targets. I scaled out at what would have been 2XR on the first trade and then had my target at 4XR. Price got within about 15 ticks of 4XR and so i trailed to +20 ticks. This got taken out and subsequently price went to 4XR and reversed.

While i am typing this, price has reached 1XR on the counter trend signal. But I really don't like counter trend trades that much but I do see them. I would have been all out at 1XR on a CT trade.

I am expecting some non directional momentum at this point. We'll see. I'm mostly gonna watch from now on.

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


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

Hello @PandaWarrior

I really like the colors on your current chart. Would you mind posting a template???

Thank you,

Rick

"If you're going to panic during a trade............. panic early."
The following 2 users say Thank You to trs3042 for this post:
 
  #908 (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


trs3042 View Post
Hello @PandaWarrior

I really like the colors on your current chart. Would you mind posting a template???

Thank you,

Rick

Here you go. Have fun and be careful.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Files
Register to download File Type: xml Brians Trend Chart.xml (50.5 KB, 73 views)
The following 6 users say Thank You to PandaWarrior for this post:
 
  #909 (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,

For conversation; (since you are in 'chill zone')--are those expanding MA's like that 'guppy' method???

Have you ever seen those cool charts that look like 3 dimensions where price goes above and below median lines/grids?

It is an optical illusion of sorts.

peace

hedvig

The following 2 users say Thank You to researcher247 for this post:
 
  #910 (permalink)
Elite Member
Holland, Michigan
 
Futures Experience: None
Platform: ninjatrader
Broker/Data: CQG
Favorite Futures: Acoustic Guitar
 
trs3042's Avatar
 
Posts: 1,802 since Jun 2009
Thanks: 23,771 given, 5,600 received



PandaWarrior View Post
Here you go. Have fun and be careful.

Thanks Brian. I will be careful. I sure enjoy reading your progress over the months. I believe your a true inspiration to a lot of traders here at futures.io (formerly BMT). Keep up the great work!!!

Thank you for sharing,

Rick

"If you're going to panic during a trade............. panic early."
The following 4 users say Thank You to trs3042 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)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     


All times are GMT -4. The time now is 12:22 PM.

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 2017-12-12 in 0.17 seconds with 20 queries on phoenix via your IP 54.145.16.43