The Pandawarrior Chronicles II - futures io
futures io futures trading



The Pandawarrior Chronicles II


Discussion in Trading Journals

Updated by Big Mike
      Top Posters
    1. looks_one PandaWarrior with 136 posts (1,248 thanks)
    2. looks_two Big Mike with 14 posts (61 thanks)
    3. looks_3 bobwest with 12 posts (47 thanks)
    4. looks_4 tturner86 with 12 posts (39 thanks)
      Best Posters
    1. looks_one PandaWarrior with 9.2 thanks per post
    2. looks_two Big Mike with 4.4 thanks per post
    3. looks_3 bobwest with 3.9 thanks per post
    4. looks_4 tturner86 with 3.3 thanks per post
    1. trending_up 32,090 views
    2. thumb_up 1,756 thanks given
    3. group 57 followers
    1. forum 283 replies
    2. attach_file 16 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

(If you already have an account, login at the top of the page)

Closed Thread
 
Thread Tools Search this Thread
 

The Pandawarrior Chronicles II

  #221 (permalink)
Concord, CA
 
Experience: Intermediate
Platform: Sierra Charts and NT7
Broker: AMP/CQG
Trading: Mini's and CL
 
Posts: 230 since Oct 2009
Thanks: 966 given, 274 received

Hi Brian, thank you for the thread, and I wish you rest and peace with your dads healthly recovery. If you should think the TST combine is tough you should have seen my wife on showing her my Fridays statements for the week during the year. LOL, will sometimes.


PandaWarrior View Post
I wholeheartedly agree....especially the ten day combines are designed for failure in my view....essentially you must start small and since the daily stop doesn't increase as you add to it, you are forced to either scalp a certain number of ticks every day, trade all day long or take unreasonable risk with larger size and hope things go your way early on. Otherwise you are screwed....

The continuous combine on the other hand makes more sense, you can simply trade smaller size for a longer time period and take more reasonable risk doing it.....but I won the ten day combine and so that's what I'm trading....

No trades today as I did not get a valid signal I could reasonably take....even though last night I KNEW I would be short this morning....but price went up instead of down and so I waited until I could get a "counter trend" signal on the 5M chart and just as I was getting ready to hit the button short, it exploded down....I missed all of it.....but oh well, there's tomorrow.


The following 2 users say Thank You to tradermark2009 for this post:

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
267 thanks
What is your single biggest weakness?
51 thanks
Want your NinjaTrader indicator created, free?
44 thanks
VWAP for stock index futures trading?
39 thanks
Is Amp at risk of going under?
38 thanks
 
  #222 (permalink)
Denmark
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL
 
cejstrup's Avatar
 
Posts: 90 since Jan 2014
Thanks: 1,143 given, 152 received


PandaWarrior View Post

The continuous combine on the other hand makes more sense, you can simply trade smaller size for a longer time period and take more reasonable risk doing it.....but I won the ten day combine and so that's what I'm trading....

If you get a rollover on this 10-day combine, instead of getting another 10-day you can ask Topstep to turn it into a continuous combine. That's what I'm doing with my latest rollover.

The minimum for a continuous is 2 months, so you'd have enough credit for 2 months of the 50k combine ...

Just a thought

The following 3 users say Thank You to cejstrup for this post:
 
  #223 (permalink)
Super Moderator
Sarasota FL
 
Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 5,624 since Jan 2013
Thanks: 44,067 given, 19,019 received



cejstrup View Post
If you get a rollover on this 10-day combine, instead of getting another 10-day you can ask Topstep to turn it into a continuous combine. That's what I'm doing with my latest rollover.

The minimum for a continuous is 2 months, so you'd have enough credit for 2 months of the 50k combine ...

Just a thought

Have they agreed to do that? It's an interesting idea, if so.

Thanks.

Bob.

Visit my futures io Trade Journal
 
  #224 (permalink)
Denmark
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL
 
cejstrup's Avatar
 
Posts: 90 since Jan 2014
Thanks: 1,143 given, 152 received


bobwest View Post
Have they agreed to do that? It's an interesting idea, if so.

Thanks.

Bob.

Hi,Bob

yes they have

I recently rolled over a 150k custom combine worth 450 USD. I'll have it converted to either 30k continuous for 3 months or maybe a 50k cont. for 2.5 month. Still haven't decided yet

Edit:

Due to administrative limitations it wasn't possible to convert it anyway. I will get a refund instead.

Remember, a refund is always a possibility as well....


Last edited by cejstrup; November 27th, 2014 at 02:47 AM.
The following user says Thank You to cejstrup for this post:
 
  #225 (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

End of combine

I blew up the combine on the last day. Hit the DLL....wasn't really thinking I suppose but going into the day, I had decided that if the first trade was a loser, I'd quit and roll over the combine. But honestly, that is trading the combine and not the account....so I went for it and forgot how much I was down for the day....and the risk manager took me out, which is what its supposed to do, its a protection after all but in the sense that I was trading the account vs trading the combine, I blew it big time....

Thanks for all that voted for my journal. If anything is to be learned from this, its this, pay attention to the loss limit! And trade the early part of the combine as though its the last week. Its tough to trade well the last week if your back's against the wall.



Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 10 users say Thank You to PandaWarrior for this post:
 
  #226 (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

Winding down

Well its that time of year, time to review, to plan, to think and to make changes as needed. I normally spend the last 60 days of the year thinking about the past, planning for the future and then making tactical changes as dictated my thinking and planning.

I have a few new financial goals this coming year. Not the least of which is to make sure I exploit my opportunities the best of my capability. However, besides that, I plan on starting a foundation or non profit to begin working on some of my long term goals. This will require further consistency in my trading.

Another thing I've worked on is eliminating distractions and unnecessary inputs. One of those is the daily posting here at futures.io (formerly BMT). Over time I've talked about reducing my posting frequency and have always come back to it. I think its more to do with the community than for anything else. But honestly, the community feels smaller for some reason. I don't feel in touch with it like I did and since I write my personal journal in Evernote, my private blog and this thread, it gets a bit redundant. So after talking about it for a long time, I've decided to reduce another distraction and simply post a weekly summary here in the thread. If you want to read my daily stuff, you'll need to find me at my blog which can be found in my profile here at futures.io (formerly BMT).

I will be adding long term forex trading to my trading plan as well this next year. It will not be a quick thing. I have looked at it quite a lot this year and have gone back and forth on trading forex. In the end I can see it being a portion of a longer term portfolio. Using a basket of currencies as part of a diversification strategy can only be a good thing. I've done well in the past as a longer term trader/investor with much less understanding of what I was doing so I think I can add forex slowly and build it up into a nice piece of the puzzle.

The rest of the year promises to be decent, I think the volatility will continue at least for another week or so until the market figures out what the OPEC meeting really means for the future of energy and how Russia will respond. I really think Putin is the wild card on the international stage. He could disrupt lots of peoples plans for the future with a few quick moves if he is so inclined.

I have a lot going on personally the next few weeks so it looks to be pretty busy. My dad is going in for CAT scans and then surgery to have his cancer removed. That should last until around the 17th or so. Then more family in for the Christmas holiday. For sure I won't be trading between Christmas and New Years.

Take care, see you next weekend.

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:
 
  #227 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,055 since May 2011
Thanks: 1,540 given, 443 received

29.99 Percent is still a great return in my books. ;)


PandaWarrior View Post
I blew up the combine on the last day. Hit the DLL....wasn't really thinking I suppose but going into the day, I had decided that if the first trade was a loser, I'd quit and roll over the combine. But honestly, that is trading the combine and not the account....so I went for it and forgot how much I was down for the day....and the risk manager took me out, which is what its supposed to do, its a protection after all but in the sense that I was trading the account vs trading the combine, I blew it big time....

Thanks for all that voted for my journal. If anything is to be learned from this, its this, pay attention to the loss limit! And trade the early part of the combine as though its the last week. Its tough to trade well the last week if your back's against the wall.



PandaWarrior,

Like everyone else here I totally look forward to your journaling and journey to becoming an even more successful PROFESSIONAL Trader. Sorry to hear about your combine and what you are going through.


I look at your Combine and I see a lot of take aways that are positive:

1. Obviously you were trading with a ton of external stress.
2. Although you didn't pass the first time a 29.98% annualized rough rate of return is not bad. (I'll put my calculations below and that is not even accounting for the fact that you would have had increased capital in a year, just straight stick growth.)
3. Oh I forgot to also put down that you were doing your Combine during some of the traditionally toughest days to trade in the year. Had it been a month ago things probably would have been much different.
4. You have now completed it once and it was positive; so you know you can do it again.

You are a great trader now, and will be even better in the future.

Oh almost forgot my rough. Calculations. 10 day combine = 2 weeks trading so in two weeks you went from 150K to 151,730.
52/2 =26 two week periods in a year
26*1,730 = $44,980 conservative projected returns even with your current combine

($44,980 /150,000)* 100 = 29.99% would be your projected annual returns.

Visit my futures io Trade Journal
The following 3 users say Thank You to bd92154 for this post:
 
  #228 (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


bd92154 View Post
PandaWarrior,

Like everyone else here I totally look forward to your journaling and journey to becoming an even more successful PROFESSIONAL Trader. Sorry to hear about your combine and what you are going through.


I look at your Combine and I see a lot of take aways that are positive:

1. Obviously you were trading with a ton of external stress.
2. Although you didn't pass the first time a 29.98% annualized rough rate of return is not bad. (I'll put my calculations below and that is not even accounting for the fact that you would have had increased capital in a year, just straight stick growth.)
3. Oh I forgot to also put down that you were doing your Combine during some of the traditionally toughest days to trade in the year. Had it been a month ago things probably would have been much different.
4. You have now completed it once and it was positive; so you know you can do it again.

You are a great trader now, and will be even better in the future.

Oh almost forgot my rough. Calculations. 10 day combine = 2 weeks trading so in two weeks you went from 150K to 151,730.
52/2 =26 two week periods in a year
26*1,730 = $44,980 conservative projected returns even with your current combine

($44,980 /150,000)* 100 = 29.99% would be your projected annual returns.

Hi Bill, nice to hear from you......all that might be true but I suspect the amount of risk I take might make most investor types turn white headed overnight.....therefore those returns are less attractive than one might otherwise think.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #229 (permalink)
San Diego
 
Experience: Intermediate
Platform: NinjaTrader/Think or Swim
Broker: TDA/Interactive Brokers/ Data Feed TDA & IBK ( Dropped Kinetick)
Trading: Stocks NASDAQ
 
bd92154's Avatar
 
Posts: 1,055 since May 2011
Thanks: 1,540 given, 443 received


PandaWarrior View Post
Hi Bill, nice to hear from you......all that might be true but I suspect the amount of risk I take might make most investor types turn white headed overnight.....therefore those returns are less attractive than one might otherwise think.

Oh so you have seen real picture on line have you.... LOL
Risks are fine as long as you don't let them get away from you.
I've watched your journal, and don't really see a crazy trader that is out to lose all his money.
No me on the other hand, well I have been in trader rehab for some time now.
Just getting back into real money trading again with baby steps.

Sent you a PM with more detail.

Visit my futures io Trade Journal
The following 2 users say Thank You to bd92154 for this post:
 
  #230 (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


Dad came through the cancer surgery just fine. Took longer to recover than we expected, a being at the hospital full ten days is one of the most exhausting things a person can do except be the one required to be there.....next up, my mom's pacemaker replacement in early Jan. Hopefully thats it for a long time!

Been working on further simplifying my trading, holding for larger gains, taking better trades with better entries. Those things are working out better than I had hoped. Still dealing with holding trades through the "kill zone" but by getting better entries, the kill zone is less of an issue now....

Going to be finishing up my annual review and my future planning over the next couple of weeks. I'm taking it slow this year as there are a few things I really need to get solidfied and then simplify.

The longer I live the more convinced I am that life should be simple, goals clear and direct and effort expended in as few areas as possible to the most effective long term. So this year I am working on getting rid of the good to focus on the best and this is a PAINFUL process. I have a lot of good things I want to do but figuring out which one is the best is difficult. In the end, I have to go with the ones that give me joy, everything else is just duty and obligation. Therefore I plan on giving those things as little head space as possible, automating at much as possible and create as much margin as I can to do and participate in the things that bring joy to myself and my family.

Thankfully, we have a pretty good idea of what those things are, now its a process of eliminating the good....easier said than done.

Might be my last post until the new year....not really trading much after this week.

Cheers.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 19 users say Thank You to PandaWarrior for this post:

Closed Thread


futures io Trading Community Trading Journals > The Pandawarrior Chronicles II




Upcoming Webinars and Events
 

Understanding Order Flow Stops Runs & Icebergs w/Bookmap

May 28
     



Copyright © 2020 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