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The Pandawarrior Chronicles II


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The Pandawarrior Chronicles II

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  #171 (permalink)
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
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Trading: NQ....that's what it boils down to
 
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PandaWarrior View Post
Thank you....we will see....

Why would you consider spending the money for a combine if you have any doubts in your mind you can pass a it? I can see if you have an edge and are ready to exploit that edge....I can see if you want to test your skills against a rigid system like TST but to say you sucked and then are going to give it a try makes no sense to me at all. I'm sorry if I inspired you to do something prematurely. Please rethink your decision.

you're right, probably a bad decision!
i had 4 perfect days on the trial, blown out in two. i'm hoping paying for the 50k combine with the incentive of getting my money back might help me learn to really watch my draw downs. if not, well, i've lost (much!) more in a day.

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  #172 (permalink)
 PandaWarrior 
In the heat
 
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jackbravo View Post
you're right, probably a bad decision!
i had 4 perfect days on the trial, blown out in two. i'm hoping paying for the 50k combine with the incentive of getting my money back might help me learn to really watch my draw downs. if not, well, i've lost (much!) more in a day.


Of course I'm right....

learn how to trade then take a combine.....you blow out a sim account in two days, you think you're gonna not blow out a combine in one day? Please.....

If inspiration counts for anything, then humor me and learn to trade first and then do a combine.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #173 (permalink)
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ....that's what it boils down to
 
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Posts: 1,339 since Jun 2014
Thanks: 4,361 given, 2,389 received



PandaWarrior View Post
Of course I'm right....

learn how to trade then take a combine.....you blow out a sim account in two days, you think you're gonna not blow out a combine in one day? Please.....

If inspiration counts for anything, then humor me and learn to trade first and then do a combine.

i have made wiser decisions, but there are no takebacks.
i do appreciate your sage wisdom.

 
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  #174 (permalink)
 PandaWarrior 
In the heat
 
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I wrote this while the trading day was in process....

Then TST doesn't post the trade report until much later on so I simply didn't feel like posting last night....so here is yesterdays...

Price is trading in a 50 tick range all night. Its short but coiled up pretty tight and a long could materialize.

Tried three times to be short, on the second attempt, I shorted a single lot, then added to it on each subsequent bar. It went +40 on the original short and and when I added on the pull back, the entire thing stopped out. I then tried to be short at the double top area, shorted the inside bar and was stopped out. Three shots, all failures.
One last shot at the shorts as it breaks the trend line.....two lots....looking for around 90 ticks to the lower short target area.

It's been a range day for the most part, no trending follow through to speak of.



Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #175 (permalink)
 PandaWarrior 
In the heat
 
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Another crap day...

I sold near the top of the move down, held it for a while and it stalled at the previous low on the daily and so I closed the trade out.....

Turns out, much of what I hold to be the gospel truth in terms of what price SHOULD do is simply rubbish. Price doesn't have to do anything I think it should.

At that point, I was up pretty nicely and could have walked away but I waited for inventory and there was no low risk area to get in....I considered the higher risk entry but did the right thing and ignored it. Then tried to get short a couple of time and got stopped out....Stop to close but still I thought out of the noise.....

Then finally some support and so I got long with smallest size.....that also was stopped out and I called it a day.....

BUT here's the kicker, in between inventory and the few trades that stopped out, I found out my dad has colon cancer....and while as I write this, I know the prognosis is very good, they think they will be able to get it all with surgery, at the time I felt sucker punched. A lot has happened to my family the last couple of years on the health front and this was the final straw.....what possessed me to keep trading after that news is beyond me. Maybe I felt out of control of the health events and so tried to take control of something through trading....or who knows, but I made a grave mistake trying to trade in that frame of mind.

Finally I just closed the laptop and got out of the house.....went and saw my pastor for a bit, then talked to my brother for a long time.....and those conversations helped get me back on stable ground emotionally.

I ended the day giving everything back....its a green day but just barely.

Since this is a ten day combine, I'm not sure of the consequences of not trading for a few days but I think I am done at least until Monday. Time to take a break and make sure I'm really stable emotionally before getting back to it.

I'll post the TST trade report later tonight or tomorrow......

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #176 (permalink)
 TheShrike 
Bridgeport, Ct
 
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Sorry to hear about your dad, Panda. Even though the prognosis sounds good, it's always a blow. I've been through the same thing with my father so I'm pulling for you and your dad. Take a break and get your head together. This will all be here when you're ready.

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  #177 (permalink)
 bobwest 
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I hope it goes well with your dad.

Keep your chin up. If you can stay on an even keel, it will help the rest of your family as well as yourself.

Best wishes for a good outcome.

Bob.

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  #178 (permalink)
 jackbravo 
SF, CA/USA
 
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best to your dad Panda.

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  #179 (permalink)
 PandaWarrior 
In the heat
 
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Doing better today....dad is doing better mentally now that he knows what the issue is and that the prognosis is pretty good. Biopsy results back on Monday or Tuesday which will determine if radiation is needed or not prior to surgery.

He showed me a picture the doc took of the cancer. I'm not sure what I was expecting but it didn't look quite like what I was expecting.

The pic showed a white mass growing on the inside of the colon and to my untrained eye, it didn't look any different than the surrounding tissue. But it was cancer and represented the source of the issues my dad has been having. The doc has the training to recognize it, how to remove it and when to stop cutting.

Which made me think about trading....how oftentimes a good opportunity is unrecognizable from any other set up....and yet to the trained eye, an asymmetrical trading moment has presented itself.

Which leads me to the next idea which is that as traders one of our primary jobs is to train our eye to recognize these opportunities for what they are.....and as I have written in my private journal a few times, trends have humble beginnings.

Therefore, we must know what an opportunity looks like, plan for it, prepare mentally, emotionally and financially to execute a trade when its presented and know when to stop.

No trading today although from the charts it was a good day for my method. I feel good about it though. I needed a day to do nothing trading related. Unless something changes between now and then, I'll be back on Monday.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #180 (permalink)
 PandaWarrior 
In the heat
 
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Posts: 3,163 since Mar 2010
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During difficult times, people (including me) often turn to spiritual things to help them deal with pain, sorrow, grief, uncertainty, etc....and in my particular belief system, trust in the Higher Power is considered an essential component of that system. Trust being defined as relying on the Higher Power to provide that which is needed in the current situation and how that trust requires relinquishing control of the situation and having an understanding that things will work out. Instead, in our (my) frustration, impatience, anger, lack of trust, etc, we (I) often times spend unnecessary hours, days, weeks and months worrying about something or trying to force the situation to conform to our (my) pre-determined idea of what the ideal should look like.

Essentially this requires us to do what we know to do, and nothing more. Leave the rest up to the Universe, Higher Power or God, whatever your label is.

And again, this reminded me of how as traders, we do what we know to do, find an entry that conforms with what we know to represent an opportunity and then leave the rest up to the market. But instead we (I mean me!!) spend an inordinate amount of unnecessary worry, stress, thoughts and efforts to make our trade conform to how we (I) want it to look.

For instance, I like instant gratification.....this applies to all areas of life and not just trading although I am learning to have patience!!!....but in trading, instant gratification is rarely available if at all. There are those rare instances that produce 100 ticks in a few minutes but most of the time, you (I) must wait for the payoff.

Instead, I try to force the trade to be profitable by moving stops to soon.....I want the trade to run right to my target and give me my profit without waiting to long....and I get impatient. And it starts to come back and I start thinking about how it might move against me 100 ticks just like that.....(this never happens of course, I'm usually on the right side of things) and so I "manage" the trade thereby cutting off a very profitable opportunity. What's going on here? I submit its a lack of trust the market is going to give me what my otherwise rational system tells me that on average, it will give me.

So to use a loose analogy, the market is the "Higher Power" and once we do our (my) part, then the only thing left to do is trust. Which is a bit harder to do than to say. Both in life and in trading.

Perhaps I'm waxing philosophical because of the situation with my dad, but its during these times that a person gets the free time to think.....and often times my mind drifts toward the spiritual and the philosophical. And of course to trading. Hard to separate "real life" from trading as trading seems to have implications in nearly every area of life.

And now I'm done for the day....hopefully this will sound as profound tomorrow as it does today....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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