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The Pandawarrior Chronicles II


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Updated March 13th 2015 by Big Mike
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The Pandawarrior Chronicles II

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  #141 (permalink)
Market Wizard
west palm beach florida usa
 
Experience: Advanced
Platform: ninja trader
Broker: Optimus Futures/ Rithmic
Trading: Cl, TF
 
Posts: 945 since Oct 2011
Thanks: 942 given, 4,256 received


PandaWarrior View Post
If and when I win the combine and if and when I trade the combine, I will journal it here....I haven't decided if I'm gonna give it away or trade it....If I do trade it, I will be trading either ES or perhaps ES and TF, if TST has TF available by then. I'd heard they were working to bring TF to the combines.......

But my regular trading will be reduced to weekly updates....I still can't figure out why anyone actually reads the stuff I post. I read it later and it's just not that good....there are no real insights, no real tactical stuff, no trade calling, no macro analysis, no bragging about how I called this or that high or low...no attempt to prove how right I am about all the above, no nothing....its just my trades and my thoughts about either the trades I took or some general trading thought.

This is my 4th journal here, and people just keep reading...I don't get it...

Anyway, thanks for reading.....

I can't speak for others, but I have enjoyed reading your journals..and I have gleamed some good info as well. I hope you continue to keep posting.

Failure is not an option
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  #142 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received

INPUT requested

I've been looking at 30M charts as my primary trading chart. Currently I five minute chart but I want to reduce the number of trades I take and increase the distance I let the trades run....and higher time frame charts seem to be the way to do that....

So I want input in the following areas;

1. Overall Advisability of using this high of time frame in intra day trading.
2. Stop consideration vs expected reward....doing some historical look backs, reward can be in often times in the 90-150 tick range most of the time....not talking about the outlier days where it runs 300-400 ticks.
3. Trade placement....In other words, if you currently trade a 30 minute or larger time frame, would you be so kind as to perhaps post a pic or two of how you enter trades....and I don't care which market you trade....I suspect I may need to revise my entry technique a bit which is why I ask.

4. Any other thoughts you may have with regards to this subject.

This will be something that occurs over time....I want to ease into it.....so I'll have time to think about and digest whatever input I get.

Thanks in advance.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #143 (permalink)
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,877 since Oct 2009
Thanks: 3,496 given, 4,948 received


If you use value as shown by a volume value channel then the timeframe becomes a secondary consideration as a 5min, 10 min or 30 min interval will show the same levels.

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  #144 (permalink)
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,054 since Feb 2012
Thanks: 5,116 given, 10,585 received


PandaWarrior View Post
I've been looking at 30M charts as my primary trading chart. ..

1. Overall Advisability of using this high of time frame in intra day trading.
...
4. Any other thoughts you may have with regards to this subject.

Thanks in advance.

Hi Panda

First - congrats to your tremendous result in the october contest!
Your journals are well visited, commented and followed.

You ask here about bigger time frames - like 30min or higher:
In my journal you find nearly 3 years of trading the 30min (only intraday)
with a maximum of 3 trades per week. All trades are announced before
taking the trade with entry and exit time.
There are charts to find as well as all the results by day, week and year.

Have a great weekend
GFIs1

Follow me on Twitter Visit my futures io Trade Journal
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  #145 (permalink)
Market Wizard
west palm beach florida usa
 
Experience: Advanced
Platform: ninja trader
Broker: Optimus Futures/ Rithmic
Trading: Cl, TF
 
Posts: 945 since Oct 2011
Thanks: 942 given, 4,256 received


PandaWarrior View Post
I've been looking at 30M charts as my primary trading chart. Currently I five minute chart but I want to reduce the number of trades I take and increase the distance I let the trades run....and higher time frame charts seem to be the way to do that....

So I want input in the following areas;

1. Overall Advisability of using this high of time frame in intra day trading.
2. Stop consideration vs expected reward....doing some historical look backs, reward can be in often times in the 90-150 tick range most of the time....not talking about the outlier days where it runs 300-400 ticks.
3. Trade placement....In other words, if you currently trade a 30 minute or larger time frame, would you be so kind as to perhaps post a pic or two of how you enter trades....and I don't care which market you trade....I suspect I may need to revise my entry technique a bit which is why I ask.

4. Any other thoughts you may have with regards to this subject.

This will be something that occurs over time....I want to ease into it.....so I'll have time to think about and digest whatever input I get.

Thanks in advance.

My question would be..what is making you want to change your system? Are you not getting results from what you are doing now?
It would seem switching to a 30 minute timeframe would involve a whole new learning curve. Are you looking to evolve to more of a Swing trader?
Besides utilizing a 30 minute chart for trend purposes, it would seem difficult to time trades without having a huge stop loss. When Cl takes off..it can move 30-100 ticks in a matter of minutes..How would you catch that move on a 30 minute chart?
How many times have you watched CL move up a 100 ticks in a 20 minute or less timespan..then suddenly reverse the entire move. How could you exploit that frequent occurrence by looking at a 30 minute chart?

As far as longer term moves, we have seen CL try to go up the last few weeks..Sometimes it makes 200 ticks and then comes down 300 or more. How can one predict into the future what this instrument will ultimately do over a period of several days ?
If you are a having a semblance of success where you are averaging enough weekly ticks that having a moderate contract size would bring you a nice income...why change to something that ultimately is very hard to predict over longer time frames?

Failure is not an option
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  #146 (permalink)
Bend, OR
 
Experience: Intermediate
Platform: Sierra Charts
Broker: Global Futures/OEC
Trading: NQ, CL
 
Tap In's Avatar
 
Posts: 948 since Feb 2013
Thanks: 2,160 given, 2,057 received


PandaWarrior View Post
So I want input in the following areas;

1. Overall Advisability of using this high of time frame in intra day trading.

You are a better trader than I am so you can take this with a grain of salt, but why do you want to reduce the number of trades? I read this idea a lot on the forum.

All things being equal, for a competent trader more trades will result in higher account ROE. I'm not suggesting scalping, but it seems a professional trader should instead try to find ways to maximize their opportunities, not reduce them.

Anyway, thanks for your journal. I enjoy the reading.

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  #147 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received


trendisyourfriend View Post
If you use value as shown by a volume value channel then the timeframe becomes a secondary consideration as a 5min, 10 min or 30 min interval will show the same levels.

Thanks for the input....but I'm a very visual person....could you post a pic or two with explanations as you see it? I would appreciate it.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #148 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received


GFIs1 View Post
Hi Panda

First - congrats to your tremendous result in the october contest!
Your journals are well visited, commented and followed.

You ask here about bigger time frames - like 30min or higher:
In my journal you find nearly 3 years of trading the 30min (only intraday)
with a maximum of 3 trades per week. All trades are announced before
taking the trade with entry and exit time.
There are charts to find as well as all the results by day, week and year.

Have a great weekend
GFIs1

I'll look at it but I don't know which journal is yours...could you post a link to the most relevant posts please? Also, why only 3 max trades per week?

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
 
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  #149 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received


Tap In View Post
You are a better trader than I am so you can take this with a grain of salt, but why do you want to reduce the number of trades? I read this idea a lot on the forum.

All things being equal, for a competent trader more trades will result in higher account ROE. I'm not suggesting scalping, but it seems a professional trader should instead try to find ways to maximize their opportunities, not reduce them.

Anyway, thanks for your journal. I enjoy the reading.

Reducing the number of trades reduces the likely hood of the trader behaving in a stupid manner....small charts begat lots of trades.....and honestly, most of those trades are ill advised even though some of them work. The idea would be to reduce the number of trades per instrument and increase the number of instruments....and since the higher time frames reduce the number of new trades AND increases the potential for larger trades, it stands to reason a trader should be able to add to the trades as it progresses and have a greater chance the trades work....

Essentially I am looking for fewer but larger trades....

Hope that answers your questions....


and thanks for reading....

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:
 
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  #150 (permalink)
In the heat
 
Experience: None
Platform: Tradeovate
Trading: Energy
 
PandaWarrior's Avatar
 
Posts: 3,162 since Mar 2010
Thanks: 6,324 given, 13,367 received



lancelottrader View Post
My question would be..what is making you want to change your system? Are you not getting results from what you are doing now?
It would seem switching to a 30 minute timeframe would involve a whole new learning curve. Are you looking to evolve to more of a Swing trader?
Besides utilizing a 30 minute chart for trend purposes, it would seem difficult to time trades without having a huge stop loss. When Cl takes off..it can move 30-100 ticks in a matter of minutes..How would you catch that move on a 30 minute chart?
How many times have you watched CL move up a 100 ticks in a 20 minute or less timespan..then suddenly reverse the entire move. How could you exploit that frequent occurrence by looking at a 30 minute chart?

As far as longer term moves, we have seen CL try to go up the last few weeks..Sometimes it makes 200 ticks and then comes down 300 or more. How can one predict into the future what this instrument will ultimately do over a period of several days ?
If you are a having a semblance of success where you are averaging enough weekly ticks that having a moderate contract size would bring you a nice income...why change to something that ultimately is very hard to predict over longer time frames?

I'm not changing my method...I'm adding to it....by looking at longer time frames, I want to increase my hold times for sure, not as a swing trader though...but more of an intra day swing trader, something I've said I am but continue to fall short of actually being one.

The questions you ask are the ones I am looking to answer, I don't have the answers today....and I do not intend to predict what CL will do several days in the future. As I stated in my post, this is something I am looking to grow into.....it might take several months or it might now happen at all....or it may happen next week if I have an aha moment....not likely, but possible....

Thanks for the input, I appreciate it....

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:

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March 13, 2015


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