The Pandawarrior Chronicles II - Trading Journals | futures io social day trading
futures io futures trading


The Pandawarrior Chronicles II
Updated: Views / Replies:25,910 / 283
Created: by PandaWarrior Attachments:16

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
 16  
 
Thread Tools Search this Thread
 

The Pandawarrior Chronicles II

  #121 (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

Today was a day I decided to push and make some money....this basically means I add when I want to trail.....keep adding if new opportunities present themselves and hold to further targets....

I did that today and instead of trailing out at BE, I added.....this meant that I was able to multiply my earnings instead of minimizing them.....I scaled out at +20 or so, added back on when it seemed appropriate and scaled out as price action dictated. At no point was my risk increased.....I did maintain risk on one of the scale in's...but that is acceptable.

I passed on a BTL trade back to the 50% level and the 60M MA....this was an obvious trade but I was gonna have to leave soon for a doctors appointment and I didn't want it in progress while I was away.

Net of 120 ticks today....best day in a while....and no really big runners....lots of scale outs because price didn't run all the way to the profit grids like I thought they might....they may have later on but since my NT refuses to log in and update my charts right now, the first pic I took early on will have to suffice for today's post. I marked it with Evernote by memory which is why its a bit odd looking....hopefully I'll be able to log in soon and I can update my charts on the day.

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 11 users say Thank You to PandaWarrior for this post:
 
  #122 (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

Here's my value add for today...

For those of you that like following energy and want to indulge in some fundamental reading, I've been reading this newsletter for a couple of years now....always lots of good news to look at....I don't use a single bit of it in my trading but its always nice to read about what you're trading.....

News | First Enercast Financial

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 5 users say Thank You to PandaWarrior for this post:
 
  #123 (permalink)
Elite Member
Raleigh,NC
 
Futures Experience: None
Platform: Versatile and Stable
Broker/Data: Reliable and Accurate
Favorite Futures: Money
 
Traderwolf's Avatar
 
Posts: 250 since Feb 2012
Thanks: 154 given, 1,025 received

Finding Our Own Way


Was cleaning out some files this morning and found this and it reminded me of some posts you have made over the years about finding your own way.

Wolf

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

Author Unknown

The following 13 users say Thank You to Traderwolf for this post:
 
  #124 (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

Chart update from yesterday

Finally logged in and updated my charts....here is the marked up chart with the exact details....

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 11 users say Thank You to PandaWarrior for this post:
 
  #125 (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 reading John Mauldin for ten years....he is often early in his calls regarding macro events...but he's been right quite a bit.....

So agree or not, this piece is interesting reading for those who like global macro analysis....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Attached Thumbnails
The Pandawarrior Chronicles II-john-mauldin.pdf  
The following 7 users say Thank You to PandaWarrior for this post:
 
  #126 (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

Some dumb ass mistakes today but

I arrived at the charts a few minutes to late to catch the pre market selling....so I resolved to just wait out whatever was gonna happen next. You can see the notes on the chart, I started to get impatient and irritated I missed that short trade. It started to wear on me and I realized what was going on....I even noted it on the chart....I should have walked away for a bit....and I did go wake my kiddo up for school....but it wasn't long enough. I shorted in the hole....not necessarily a terrible trade, just not one of my plan trades.

I closed this trade at -11 knowing it was a not a plan trade....so then I waited some more.....and started getting impatient again.....I knew after the large OR bar, it might rotate for a while and it did, but it was slow....and that wears on me, one reason I couldn't trade ES or something like it.....

Anyway, I got long after the consolidation break out....if you can call it that, regardless I failed to wait again for the actual BTL trade setup. Why? Because I was afraid it would run without me, it didn't of course and there was no hint it might, but I was afraid....and I closed this one at -10. So down -21.

Finally the BTL trade setup, I took it and scaled out at +20 and let the rest run to PG1 where I exited the entire position....net now +50ish....

Took my kiddo to school at this point, came back to see a BTL short had occurred while I was gone and figured price might rotate BTL for while....time to get my journal on.

Did see the BTL long set up, but was not interested at this point, getting hungry and feeling a little bored....no state to trade in. However the SEL back to PG1 valid as always. Normally a great place to enter.

Got some food, fresh eyes and shorted near the top...-10 ticks....wasn't really willing to risk much here....some pressure on the long side and I don't think its quite ready to flush out if its going to.....

Took another shot at the short, +20 and it stalled right there so closed it out....

Long at .77.....break of the levels and the premise of the trade was the PG2 level but the gap fill at 81.03 was in between...so I trailed my stop just in case a reversal at the gap fill.....exited at +15

I've been at this for about 5 hours now....I'm tired.....up 70 ticks so time to quit for the day.

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 13 users say Thank You to PandaWarrior for this post:
 
  #127 (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 made a few critical mistakes today:

1. I traded to long, especially once I figured out I was in a rotation day.

2. I traded to much trying to make something happen.

3. I didn't quit while I was ahead once I knew the rotation was happening.....

4. I kept hoping for a break out.....which we all know never happens when you need it!

5. I super imposed my view of what SHOULD be happening instead of just listening to ms market about what she was doing....and acting accordingly.

6. I over analyzed most of the day.

What I did right today:

1. I limited my max draw down to less than half of my real daily max.

2. I traded very small size....mostly one and two lots today. And only one lots once I figured out it was rotational.

3. I never closed a trade today because of fear, instead I let structure either take me out or I used a time filter....and I let structure dictate profit areas as well.

4. I closed trades manually once I knew they weren't working.

5. I traded the entire session today.....like a professional....

6. I didn't act on most of the analysis I did....

Net today, -30 ticks plus commissions....total of around -40....less than half my daily max draw down....

No charts today, I'm tired after a full day of trading a slow market, some honey do's and a nice long walk around the block.....I might post later tonight if I'm feeling better....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 17 users say Thank You to PandaWarrior for this post:
 
  #128 (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

Here's the chart from today....in hindsight it's pretty obvious but in real time it was pretty darn hard.....thankfully I was long all day (thank you trading rules) other than the pre market gap fill, but it didn't help me any......I made one entry error with regards to not waiting for the set up....that's in the yellow box and it was a FOMO trade for sure....

After looking at the chart and my hand written notes, I realize some of my previous post was in error. I did make errors in closing trades. I don't really recall trailing stops, but its obvious I did.....if the stops weren't trailed, some of those losses would not have occurred....which brings up an interesting question, the divergence between my recall and what I know to be true based on where the fills were tells me stuff is happening I might not be fully aware of during the course of the trading day.

I know stuff like this happens in daily life. You do things that are second nature and later you don't remember doing them....I do this all the time driving.....I'll drive somewhere, be lost in thought and arrive at my destination without really knowing what went on between home and the destination....this might be funny in non trading life but... with regards to trading, it's dangerous to the account. This also tells me I moved stops so much that it's second nature and I need to be VERY aware of it from now on.

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 9 users say Thank You to PandaWarrior for this post:
 
  #129 (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

Spent the day scalping for the most part, 3-5-10 ticks here and there....its exhausting. Meanwhile I missed the NG trade of the week....and made 8 handles long in SIM on ES....I'm thinking of using the new combine to trade ES....but only thinking.....Anyway, made about 40 ticks scalping around prior to the inventory number....lost a few after the number, then spent the rest of the morning waiting around on FOMC....ES fell out of bed without me....and CL followed a few minutes later, also without me...tried a couple of shorts in the hole, one went +20ish and reversed to stop out....the other stopped out....

I had a one shot at a nice long and I hesitated and ended up with a much worse entry than I could have had....which resulted in reduced profit and a stop out on the second lot....so a wash trade. Had I gotten it right, many more options would have been available for the second lot exit...as it was, I shot myself in the foot with the momentary hesitation....and yes I could have clicked the button, but I rarely do that and its second nature to not chase....in this case it would have been better to just click in....

I've been trading 1 lot lately. I don't like it much at all, so much easier to use a scalp trade plus a runner.....and the PnL curve looks so much better. I think I'll be going back to using at least 2 lots most of the time. At the same time, when I'm not winning, its easier to take the trade knowing its small size and thats been important the last two days....not a lot of confidence in the follow through from the signals so taking them anyway, adding if possible but basically probing around looking for some momo....

Right up against the daily range today which explains the resistance up there, still the chart was long and there were a couple of opportunities...better execution needed though.

ES led CL today especially as FOMC neared....interesting dynamic there....not sure if its meaningful or not....

Ended the day basically flat.....not to bad considering how awful the trading day was for my style. My MP buddy made some money today though....

One last thing, I've been thinking I need to trade longer, take advantage of every opportunity. So this last week and this week, I've been doing that, and once again, the principals I've espoused for so long are demonstrated again...

1. Decision fatigue sets in for me at about 3.5-4.5 hours. The longer I trade the worse it gets. I begin losing inhibitions at around 3.5 and at 4.5, near impossible for me to control. Which means more impulsive trades....not good. I've given it about a week doing this...
2. At least on CL, I can make my money fairly early and stop....there is opportunity to be sure later on, BUT it does seem its harder to come by....this might be my fatigue telling me this but its true for me anyway.

Tomorrow I will return to my "normal" trading hours. Come what may, its the best for me mentally and emotionally. I just don't have what it takes to be "in the zone" for 6 solid hours.....

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 6 users say Thank You to PandaWarrior for this post:
 
  #130 (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


Did I mention I was looking forward to the weekend? Pretty tired this week....Need some rest....

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:

Closed Thread



futures io > > > The Pandawarrior Chronicles II

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
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
The PandaWarrior Chronicles PandaWarrior Trading Journals 2157 May 14th, 2014 07:51 PM
iqgod's TopStepTrader (TST) Combine Chronicles - $30,000 Account 20-Days iqgod Elite Trading Journals 271 April 2nd, 2013 10:37 AM
Webinar: PandaWarrior's Top 10 things he wished he'd known sooner Big Mike The Elite Circle 16 November 4th, 2012 08:29 AM
Broken Market Chronicles: Algos Go Autosell Wild On Wall Street Victory Trader News and Current Events 0 August 1st, 2012 08:22 PM


All times are GMT -4. The time now is 05:47 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 2017-12-17 in 0.17 seconds with 20 queries on phoenix via your IP 54.163.210.170