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The Pandawarrior Chronicles II
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The Pandawarrior Chronicles II

  #111 (permalink)
Elite Member
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PandaWarrior View Post


Yes I look at recent daily bars, what did they do? Why did they do it? How could I have better anticipated those actions? These help in the short term but longer than a few days seems to simply be counter productive at best and an enormous time waster as well.

You are on the right track to go with the flow.

Trying to figure out "Why did they do it? How could I have better anticipated those actions?" will drive you crazy.

It is not a game of anticipation of what the market will do next, it's a game of reacting to what the market does now. You don't have to know why the price is moving you only have to know that it is moving and play the probabilities that it will continue that move.

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #112 (permalink)
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kick in the balls day

Today was a kick in the balls. I made money but left SO much on the table and not because I had to leave or anything...the BE thing really kicked me in the nuts today......I made $500 but left $3300 on the table because I went BE instead of adding....

Tomorrow is a new chapter in my trading career. No more am I a fearful trader thinking every trade might come back on me....instead i press and press until it won't take it anymore......

I figured out that if I had scaled out and added back at each of my entries today, I would have made $4650 instead of the $500.....I can safely trade around 5 lots...now its time to use them...

The entries were near perfect entries and even though the price action was slow it was still in my favor....at no time was my original stop threatened.

On one trade after several BE attempts, I bailed on the trade once order flow started to go against me...and after price was in my favor 35ish ticks....but there was no plan based reason to exit....NONE....but I did. It was emotional capitulation.....the only reason. Frustrated in seeing price continually grinding my way only to see it once again near my ultimate targets and me having much less profit than I should have.....

So I got on the phone with a friend that scales and talked to him about how he did it and for feed back on the idea of controlling risk with both size and scaling in and out.....after that discussion and then some homework on my end, I think I've finally seen the light....

And I'm just uncomfortable enough to try this instead of what feels good and comfortable to me in the moment.....

And just as an aside, the BE thing I mentioned a few posts ago, I did get rid of the idea of going BE just because I was afraid....instead I was at BE once price had gone my way around 20 ticks....this was based on research around 18 months ago and it never dawned on me that research was outdated and flawed....So from now on, control risk with size and scaling in and out. I know how to do it....and I will...

I realize this goes back to the post I made a few days ago....and I understand the hypocrisy of today vs what I said I will be doing from now on.....I have made significant progress in the last few days....but today I think was the tipping point....I feel different inside....angry is part of it....but determined to do whatever it takes.....and means being FAR more aggressive when the reference points I depend on for trade location line up....and it means being far more aggressive as long as there is no reason to be in a trade the opposite direction....in all honesty, I get all kinds of heads up warning things could change......so as long as those heads up warnings are not present, no need to worry....just keep pressing....run up the score....not a single man left standing.....kill them all.....

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Most people chose unhappiness over uncertainty, Tim Ferris
 
  #113 (permalink)
One day...
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PandaWarrior View Post
Today was a kick in the balls. I made money but left SO much on the table and not because I had to leave or anything...the BE thing really kicked me in the nuts today......I made $500 but left $3300 on the table because I went BE instead of adding....

Tomorrow is a new chapter in my trading career. No more am I a fearful trader thinking every trade might come back on me....instead i press and press until it won't take it anymore......

I figured out that if I had scaled out and added back at each of my entries today, I would have made $4650 instead of the $500.....I can safely trade around 5 lots...now its time to use them...

The entries were near perfect entries and even though the price action was slow it was still in my favor....at no time was my original stop threatened.

On one trade after several BE attempts, I bailed on the trade once order flow started to go against me...and after price was in my favor 35ish ticks....but there was no plan based reason to exit....NONE....but I did. It was emotional capitulation.....the only reason. Frustrated in seeing price continually grinding my way only to see it once again near my ultimate targets and me having much less profit than I should have.....

So I got on the phone with a friend that scales and talked to him about how he did it and for feed back on the idea of controlling risk with both size and scaling in and out.....after that discussion and then some homework on my end, I think I've finally seen the light....

And I'm just uncomfortable enough to try this instead of what feels good and comfortable to me in the moment.....

And just as an aside, the BE thing I mentioned a few posts ago, I did get rid of the idea of going BE just because I was afraid....instead I was at BE once price had gone my way around 20 ticks....this was based on research around 18 months ago and it never dawned on me that research was outdated and flawed....So from now on, control risk with size and scaling in and out. I know how to do it....and I will...

I realize this goes back to the post I made a few days ago....and I understand the hypocrisy of today vs what I said I will be doing from now on.....I have made significant progress in the last few days....but today I think was the tipping point....I feel different inside....angry is part of it....but determined to do whatever it takes.....and means being FAR more aggressive when the reference points I depend on for trade location line up....and it means being far more aggressive as long as there is no reason to be in a trade the opposite direction....in all honesty, I get all kinds of heads up warning things could change......so as long as those heads up warnings are not present, no need to worry....just keep pressing....run up the score....not a single man left standing.....kill them all.....

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awesome man that you've come to this realization. i'm still struggling with the same crap, moving stops to take me out of trades too early just because, etc. if you're willing to share any insight, i'd love to hear it.

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  #114 (permalink)
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jackbravo View Post
awesome man that you've come to this realization. i'm still struggling with the same crap, moving stops to take me out of trades too early just because, etc. if you're willing to share any insight, i'd love to hear it.


I think I just did.....but here is the cliff notes version......don't trail, add....keep at it until it either reaches your target area, you run out of margin/risk capital/max size, or the trade fails.....keep your damn hand off the mouse.....it bites!

Simple but not easy.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #115 (permalink)
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PandaWarrior View Post
I think I just did.....but here is the cliff notes version......don't trail, add....keep at it until it either reaches your target area, you run out of margin/risk capital/max size, or the trade fails.....keep your damn hand off the mouse.....it bites!

Simple but not easy.....

On the other hand you lost opportunity not money.

Did you follow your plan?

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #116 (permalink)
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deaddog View Post
On the other hand you lost opportunity not money.

Did you follow your plan?

About 65% of it....I made money but it was the hardest money I've made in a while....and lost opportunity is often the most expensive loss there is.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #117 (permalink)
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PandaWarrior View Post
About 65% of it..

What part did you miss?
If it was accepting your risk and holding until you took a loss then you should be upset.

The next question you have to ask is why you didn't follow your plan?

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #118 (permalink)
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deaddog View Post
What part did you miss?
If it was accepting your risk and holding until you took a loss then you should be upset.

The next question you have to ask is why you didn't follow your plan?

I followed the plan....the plan was wrong.....the 35% was knowing it was wrong and doing it anyway.....and I ballbarked the percentages....

That wasn't the point...the point was the plan was wrong...my plan called for doing something that was inherently designed to limit profit.....and increase frustration....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #119 (permalink)
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Prince George BC Canada
 
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PandaWarrior View Post
That wasn't the point...the point was the plan was wrong...my plan called for doing something that was inherently designed to limit profit.....and increase frustration....

So when you change the plan will you be increasing risk?

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
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  #120 (permalink)
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deaddog View Post
So when you change the plan will you be increasing risk?

No.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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