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The Pandawarrior Chronicles II
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The Pandawarrior Chronicles II

  #61 (permalink)
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No trade day for me. I have family today and probably tomorrow as well. Actually not sure when they are leaving to be honest!

Anyway, I got up to trade today, realized I was not really focused and just decided to not do anything today. Hopefully I can get back in the groove tomorrow when I figure out what the plan is....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #62 (permalink)
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Took some time tonight to review the action today....instead I saw this....something I've been working on to see real time.....these head fake type things happen all the time.....I want to be on the side doing the head fakes instead of being the one suckered in.....like I have many times in the past...

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And as always,

If you like this journal and find it valuable to you, please click the link below and hit the thanks button on that post. Unfortunately you can only thank me once in the voting thread but you can thank me all you like here....take care and hopefully this is helpful.

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes-3.html#post439408

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #63 (permalink)
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Daily chart....price has broken the lower trend line.

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Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #64 (permalink)
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I promised to write about today's trade in some depth....but I elected to mark the charts instead and go step by step....what the charts don't say is how hard it was to NOT trade prior to my entry.....I just sat there....ever nerve in my body wanting in because I KNEW it was going down....but rules are rules....more or less....I sort of broke one on the entry....price wasn't totally below the consolidation box and trend line when I entered...but I knew I was ok....had price started back up from there, I would have just closed the trade.

Anyway, in chronological order, here are the charts:

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And the bigger picture charts.....the 5M has a 20EMA on it from the 60M chart along with a 15SMA....

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Hopefully this gives you some idea of my thought process today. I'm not always this disciplined nor am I always this clear on what I think might happen. Sometimes it takes me a couple of shots to get it right. Today it took one....I prefer the one and done thing when it happens.....

And to be quite fair, after this trade, there was a nice counter trend trade back to the same resistance area...but I was already tired, up late last night with family, plus I was hungry....so pack it in and go be with the family.

EDIT: About the news....yes it can be tricky, BUT the setups for trading the news almost ALWAYS happen prior to the news....and retail traders EXIT the trade or don't enter prior to news....but what almost always happens is what you see today....trade already in progress, liquidity disappears, price flashes around a bit, takes out the weak hands, suckers people in the wrong way and then the key part.....continues doing what it was doing BEFORE the news. Of course sometimes you get surprise and price simply reverses and keeps going.....but most of the time, this scenario plays out week after week....the big money already knows what the news is gonna be within reason and so they start loading the boat ahead of time. Today, the setup occurred about an hour ahead of time, usually its 15-30 minutes ahead of time....regardless, if you see a set up prior to the news, don't be afraid to enter and hold through it....provided your stops aren't to close......the liquidity vacuum can eat your stop if its inside the spread.....I have had that happen once or twice. You won't see the stop price print on the chart but you still get taken out.....and its because your stop is between the bid and ask which I once saw be around 30 ticks during the split second or two after the number. Regardless, trading the CL number can be a lot of fun if you get it right.

And as always,

If you like this journal and find it valuable to you, please click the link below and hit the thanks button on that post. Unfortunately you can only thank me once in the voting thread but you can thank me all you like here....take care and hopefully this is helpful.

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes-3.html#post439408

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris

Last edited by PandaWarrior; October 8th, 2014 at 01:11 PM.
 
  #65 (permalink)
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Something to think about

The world?s greatest stock picker? Bet you sold Apple and Google a long time ago. - The Washington Post

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #66 (permalink)
Elite Member
In the heat
 
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Some days are like soft blissful dreams where everything goes your way....some days are like a dense fog where you can't see anything.....and today was one of those days.....chart is clean now but I had it all messed up with conflicting trend lines, false levels, you name it, I had it screwed up....funny thing is, just trade the method and all is good...but that happens occasionally....like the day's when your favorite QB throws 4 TDs and the next week he throws 4 picks returned for TD's.

I decided to quit before to much damage was done....

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And as always,

If you like this journal and find it valuable to you, please click the link below and hit the thanks button on that post. Unfortunately you can only thank me once in the voting thread but you can thank me all you like here....take care and hopefully this is helpful.

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes-3.html#post439408

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #67 (permalink)
Elite Member
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Thanks: 6,306 given, 13,250 received

Well it wasn't pure bliss but it got the job done. Happy to reverse the ugliness of yesterday. Still wasn't super clear about how I thought the market would move but after days and days of selling, I thought we might be ready for a pull back, but I went short per plan, twice, which is fine but it moved off the bottom so fast there was no real way to get in long unless you just jumped in....which I don't do....so I waited.

Finally got a less than wonderful entry bar and I wanted out the entire time it sat there but I held it and eventually got a nice winner out of it. I had an addon area I could have put some more on but since I felt the HTF's were not in alignment with this trade, I elected to pass on adding to the trade, it would have worked but I am satisfied with the decision, it could have just as easily reversed right there and stopped me with no gain....which is also no problem but I think the decision was the right one.

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


And as always,

If you like this journal and find it valuable to you, please click the link below and hit the thanks button on that post. Unfortunately you can only thank me once in the voting thread but you can thank me all you like here....take care and hopefully this is helpful.

https://futures.io/feedback-announcements/33355-october-trading-journal-contest-w-prizes-3.html#post439408

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #68 (permalink)
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PandaWarrior View Post
Multiple accounts it is...confirmed with NT.....but supposedly NT.8 this will be addressed.

Hi PandaWarrior - have been down the same problem path before. Did NT elaborate at all on how they would do this?

Also when you say swing trade, is that ever a position held overnight? Many thanks.

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  #69 (permalink)
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Spartan View Post
Hi PandaWarrior - have been down the same problem path before. Did NT elaborate at all on how they would do this?

Also when you say swing trade, is that ever a position held overnight? Many thanks.

No they didn't. Just that it would be addressed.

And yes those swing positions are held overnight....sometimes for days....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #70 (permalink)
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Posts: 3,155 since Mar 2010
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No trades today....holiday and not sure about movement or volatility.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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