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The PandaWarrior Chronicles


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The PandaWarrior Chronicles

  #1221 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
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Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
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Frequency: Every few days
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Posts: 50,397 since Jun 2009
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Futures Operator View Post
This makes sense, but it sounds like it's possible that leaving part of the position on to capture different scenarios or runners on big moves, could also work out to better net profit overall if you are going for larger swings. Have you found that this is the case, not only in terms of comfort, but in net profit, for your style as a trader?

I can't accurately say what the numbers would be without scaling, because I don't trade that way and have no intention of doing so.

I don't want to derail this thread, so I will just briefly say that I look to the left for clear price action support/resistance, then align that with profile levels, and usually set three targets. I generally try to give the market a wide berth on reaching the targets simply by asking myself "am I wrong on the direction here?". If I am not wrong then I try to stay in the position. As the first and second target are hit, if the market pulls back then I will look to re-enter again on the pullback if I feel it was overdone and we will continue in the original direction.

Again I think it is very important to understand that my smallest chart shows around 6-7 days of action, and that I am not scalping. I don't think you can apply most of what I am saying if you are scalping.

Mike

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  #1222 (permalink)
Paige
Gainesville, Florida, United S
 
Posts: 66 since Dec 2010
Thanks Given: 30
Thanks Received: 104

Panda,

I was not attempting to be confrontational -- while at the same time I was not stating a matter of opinion, either.

You hold 100% of the rights to all of the value (money) that you are ahead in a live trade.

If you would prefer think of this money as "vapor" -- that's certainly your choice.

But unless you are flat and plan to never initiate another trade --- then by your logic -- any amount that you plan to put at risk on trades in future trades should also be thought of as "vapor".

Peace,
Paige

  #1223 (permalink)
 
PandaWarrior's Avatar
 PandaWarrior 
In the heat
 
Experience: None
Posts: 3,165 since Mar 2010
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Paige View Post
Panda,

I was not attempting to be confrontational -- while at the same time I was not stating a matter of opinion, either.

You hold 100% of the rights to all of the value (money) that you are ahead in a live trade.

If you would prefer think of this money as "vapor" -- that's certainly your choice.

But unless you are flat and plan to never initiate another trade --- then by your logic -- any amount that you plan to put at risk on trades in future trades should also be thought of as "vapor".

Peace,
Paige

In the sense that you have the RIGHT to close the open trade and take profits, you are correct. But until you do, those profits don't exist.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
  #1224 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537

Registrations are now open for Brian's upcoming webinar on Tuesday @ 4:30 PM ET:

Trading Webinars, Trading Videos - [AUTOLINK]Big Mike Trading[/AUTOLINK] Forum

Looking forward to it Brian!

Mike

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  #1225 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
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Big Mike View Post
Registrations are now open for Brian's upcoming webinar on Tuesday @ 4:30 PM ET:

Trading Webinars, Trading Videos - [AUTOLINK]Big Mike Trading[/AUTOLINK] Forum

Looking forward to it Brian!

Mike


Woo Hoo !!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my NexusFi Trade Journal
  #1226 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537


tderrick View Post
Woo Hoo !!

And here is main discussion thread for the webinar:



See everyone Tuesday

Mike

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  #1227 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
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I hate it, buddy ... But I simply can not find a sub to cover for me on Tuesday...

It's a big session I can't move so I have to do it... I'll have to catch the recording.

Break a Leg, my friend...

@PandaWarrior = Superstar


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my NexusFi Trade Journal
  #1228 (permalink)
 
PandaWarrior's Avatar
 PandaWarrior 
In the heat
 
Experience: None
Posts: 3,165 since Mar 2010
Thanks Given: 6,329
Thanks Received: 13,404


tderrick View Post
I hate it, buddy ... But I simply can not find a sub to cover for me on Tuesday...

It's a big session I can't move so I have to do it... I'll have to catch the recording.

Break a Leg, my friend...

@PandaWarrior = Superstar

AJ, you've heard it all from me before, just without the slides....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Started this thread
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  #1229 (permalink)
 lancelottrader 
west palm beach florida usa
Market Wizard
 
Experience: Advanced
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Looking forward to your presentation. I've definitely gotten a lot out of your thread.

Failure is not an option
  #1230 (permalink)
 
tderrick's Avatar
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
Posts: 1,588 since Sep 2010
Thanks Given: 4,260
Thanks Received: 2,532



PandaWarrior View Post
AJ, you've heard it all from me before, just without the slides....



You are a great teacher....help the rest of the crew as you have helped me.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
Follow me on Twitter Visit my NexusFi Trade Journal

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