tag:blogger.com,1999:blog-26267552006858547222024-02-19T10:12:58.205-07:00The Trading QuestPandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.comBlogger215125tag:blogger.com,1999:blog-2626755200685854722.post-9683192684271247232020-07-23T06:26:00.001-07:002020-07-23T06:37:11.793-07:00A little something...+1.5%Mortgage business has been CRAZY last few months not to mention covid-19...been trading a bit here and there. A couple of weeks ago I started looking at other markets besides crude. I did this because CL has been lazy after all the volatility at the beginning of covid and I need faster moving markets or I get bored and that is death for my account!!<br />
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I looked at gold, es, a couple of currencies and finally settled on NQ. I like the way it moves quickly at least so far, price per tick is only $5 which helps me control risk a bit better than CL and it tends to respect levels a bit better than CL or at least that is my perception.<br />
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Have done fairly well with it so far and at least for now, will stick with it.<br />
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I had a full blown computer crash a couple of weeks ago as well and did not have time to replace for a few days so I grabbed a 5 year old laptop from my daughters room she wasn't using, went through all kinds of Microsoft updates to get it ready and for the moment I am trading from that with a 27 inch monitor. It works but its a bit slow.<br />
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I made a quick video today using Jing which was also upgraded. I don't think this machine can handle much more in the way of video software so no embedded video today! The audio is awful as I just used the old laptop's mic and I was speaking pretty softly.<br />
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<a href="https://www.screencast.com/t/s1iGnCU3YGH" target="_blank">Today's trades</a><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNNr1UUiL7F77664-xQmFkpLbPysOK1TYs9GFZblPVkkRNpLXS7CXF7ZMYRs-t0lAe6SjXyoMcgdAIvfePF9F40QzO4jNrBbAh-U-xlhLmYpLL_LDrRkIzXEgwMTbHgh2Jf7p1f0VcVvw/s1609/day+12.1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="835" data-original-width="1609" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNNr1UUiL7F77664-xQmFkpLbPysOK1TYs9GFZblPVkkRNpLXS7CXF7ZMYRs-t0lAe6SjXyoMcgdAIvfePF9F40QzO4jNrBbAh-U-xlhLmYpLL_LDrRkIzXEgwMTbHgh2Jf7p1f0VcVvw/s320/day+12.1.png" width="320" /></a></div><div><br /></div>Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com3tag:blogger.com,1999:blog-2626755200685854722.post-74580397269948640102020-03-15T18:42:00.000-07:002020-03-15T18:42:44.093-07:00VolatilityThis week has been nuts in the mortgage business and shows no signs of letting up. I really didnt have time to trade this last week and the one day that I did, I realized I really couldn't afford the stop required so I traded with small ones and you know what happened to those!<br />
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So limited trading this week and perhaps for the next couple of weeks as well.<br />
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Cheers.Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com1tag:blogger.com,1999:blog-2626755200685854722.post-56687157583302788712020-03-07T15:43:00.000-07:002020-03-07T15:43:05.926-07:00Demons without, Demons withinThere are trading demons everywhere, especially if you look for them. This week the twin demons of greed and fear became my constant companions but only because of the volatility. I wanted my piece and I was afraid I'd miss out if I didn't jump in. The only real saving grace is I have NEVER violated my daily stop loss. I refuse to act more stupidly than necessary although I came close this week. I might have lost more if I wasn't forced away from the charts Friday morning for a medical appointment at the precise moment the market opened.<br />
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The temptation is to blame volatility, the external demon. The truth is, there are no external demons, only internal.<br />
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Just an FYI, time change tomorrow, market opens an hour earlier for those of us moving to PST or GMT-8 for those of you outside the US.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-62593168716024527762020-02-29T08:47:00.001-07:002020-02-29T08:47:23.592-07:002/29/2020 UpdateIt was a crazy week. I didn't trade to much in terms of the number of trades each day. Lots of movement some of which I took advantage of and some of which took advantage of me.<br />
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I was on the wrong side twice and on the right side twice. Net result. Mostly break even. I did break above the zero line for the week so that's good but on Friday I was seriously distracted and I ignored the little voice that said best not trade today. That was the mistake for sure as I made a snap decision, was wrong and had a pretty decent size stop out that wiped out the prior gains.<br />
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I had the presence of mind to stand down at that point and just let it be. I knew if I had the focus time I could have recovered but I didn't so I let it go for the day and week.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com2tag:blogger.com,1999:blog-2626755200685854722.post-44602047342683285012020-02-22T08:11:00.000-07:002020-02-22T08:21:54.615-07:00Time sure does flyI noticed today I haven't posted in three months. A lot has happened in that time frame but for trading purposes, I didn't start trading again until around January 15th.<br />
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Over the holidays I did a lot of thinking about life, where I am and where I want to go. I came to the realization that in my remaining years, I only want to do what makes me happy. Life is to short to choose otherwise!<br />
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I decided that what I really want is complete freedom to do what I want, when I want and for my own reasons. Being tied to a job does not make that happen and so I decided to get serious about growing my trading account to the point where I can rely on it for income vs a job.<br />
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The plan was to grow the account to a certain size over the course of a month or so and then use that as the starting point for the plan. That happened and so this month about a week ago, I hit that goal and then began working toward freedom. First thing that happened was balances started going down nearly immediately. I sort of expected this but I don't really care. I am on a journey and delays and detours are to be expected.<br />
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I have about 90 minutes each morning to trade. I can realistically trade until around 7:30 AM my time most days. Since the market opens at 7 AM my time, that means I can get the open if needed. I find this 90 minutes is about all I really need if I am patient and allow the market to come to me. 30-50 ticks are generally available most mornings within the parameters of how I see the market so my daily goal is roughly 30 ticks on average. Some days there will be more and some days less but overall 25-30 ticks per contract is my rough goal.<br />
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I don't have time to post every day but I will try to post once a week either Friday night or Saturday morning. I want to document the journey and this is my only real place to do that.<br />
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So in the interest of small beginnings, here is the first weekly progress chart and a mark up from Friday's trades. The Journey to Freedom graph is simply a running balance starting from zero where zero represents my starting balance in the account as of a week ago. I don't trade every day so the Day axis represents days I actually trade, not calendar days.<br />
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Charts are from TradingView.com as I like their drawing tools very much. However, my broker no longer connects to their charts so its just for review mark ups these days.<br />
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On another note, my average time in trade used to be about 4 minutes. Now my average time in losing trades is about 10 minutes and my average time in winning trades is about 43 minutes. Same is true of my average win size and average losing size in terms of dollars. Average winning trade is three times as large as my losing trades. I'm pretty happy with these numbers and I think if I can maintain this over time, I should be good.<br />
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Initial size is always 1 or 2 lots for now. Will consider adding as balances grow. I have done fairly well with this over the last few months and I know adding to much size to quickly can mess with your head so for now, I am content in this range. I think adding a 3rd lot to a winning trade might be in the works within a few weeks but I will only do so when it seems the most obvious thing to do.<br />
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Have a great weekend!<br />
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Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com2tag:blogger.com,1999:blog-2626755200685854722.post-26099490915804027342019-11-21T06:34:00.000-07:002019-11-21T06:34:14.229-07:00I'm back, sort of Its been almost two months since my last post. I had been winning non stop and I started to feel invincible and then I started losing and I couldn't stop. I drew down quite a bit and did not know why. In real time, the trades looked awesome but in hindsight, I was WTF!!<br />
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So I took some time off, came back a week or so later, did some market review, then did some sim trading for a week or so and then I started trading again last week.<br />
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Its been slow but good. I am being really picky with the trades and taking conservative exits.<br />
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I have been watching Sandy's videos and also this other guy on youtube that trades forex and the explanations between him and Sandy are quite different BUT the overall trade locations are nearly identical with similar results.<br />
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I began incorporating more of both of these this week with noticeable results. My second week back and I am up 2% on after having recovered all the losses last week.<br />
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Some of the speed at which I recovered losses was using Sandy's method of adding to winning trades. When I was losing, I was losing with small size and when I started winning again, I was winning with larger size. It was nice to see the losses be regained so quickly.<br />
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This week I am trading with single lots again. I didnt want to fall back into the trap of feeling like I was invincible so just taking it slow. Funny thing is, I am making way more money trading like this than I was before.<br />
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This is a four hour chart with the support/resistance gained and lost marked on it. Yesterday I was long about 40 ticks from the top blue line and took it off near the first untested resistance level inside the green sideways zone. It went a bit further but in all honesty, that was my biggest trade ever.<br />
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<a href="https://www.tradingview.com/x/C25zE6Rh/" target="_blank">Today's Trade</a></div>
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This was today's trade, much smaller but executed with near perfection. I figured the top of the near term channel would be taken out so I exited just a tick or two below that level and that is where it stopped at least for now. That was around 45-46 ticks I think with only one lot but I am very satisfied with that today. </div>
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I've started using Trading View for charting as I like it very much and connects to my broker easily. I still execute on the broker platform but the drawing tools and visualization are much better on Trading View. </div>
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Cheers. </div>
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com4tag:blogger.com,1999:blog-2626755200685854722.post-88093346369513720102019-10-09T06:16:00.002-07:002019-10-09T06:16:17.611-07:00Hubris wins the dayIf hubris wins, then I lose.<br />
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nuff said!Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-38351424784909452902019-10-08T06:22:00.001-07:002019-10-08T06:22:31.129-07:00Nickels and dimesPicking up nickels and dimes are better than nothing. No time to sit around and wait for the trend short and I got a decent counter trend scalp out of it today.<br />
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A new equity high for me today. This is new territory for me. I have been in the digging out phase for so long it became natural for me but now, I sometimes think about how high can I go and I get nervous with that kind of thinking.<br />
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I see how my own hubris as well as other traders I follow sometimes experience violent draw down when they start winning and thinking they are invincible. I know I am not but after many new equity highs in a short period, that kind of stupidity sets in.<br />
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I like very much how Sandy trades for a few weeks and then takes a few weeks off. It prevents in part, a long period of thinking you are the superman of trading.<br />
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This year, I think I will trade until early December and then take a month off and come back early January. That is two months from now and seems like a reasonable target. If things go off track before then, I will stop trading for the year.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com1tag:blogger.com,1999:blog-2626755200685854722.post-15668848476895651052019-10-03T06:04:00.000-07:002019-10-03T06:04:04.483-07:00One and donePerfect day, probably left a lot more on the table but done inside the first 5 minutes with very nice 30 tick spike in my direction.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-2372335611621152242019-10-02T06:25:00.001-07:002019-10-02T06:25:21.567-07:00flip flopYesterday was a full stop out day. Got trapped in the noise with very poor emotional and technical control.<br />
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Today was slightly better. Long with poor read went my way 10is ticks then stopped at BE and by then I was looking short so just flipped to short and got roughly 30 ticks.<br />
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Not really happy with the intial read though I supposed better late than never. I'm still not convinced we are in an overall short scenario on the higher time frames. Its an inflection point and it might take days to resolve so for the next few days I will be trading very gingerly if at all until I resolve in my mind the correct higher time direction. Either that our just scalp for a few ticks here and there on the very short time frames.<br />
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Time will tell.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-363680809051323702019-09-30T11:56:00.001-07:002019-09-30T11:56:27.386-07:00Piss Poor PerformanceSo I'm home for lunch and took at look at my earlier ideas in light of how things played out.<br />
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As you can see, it didn't work so well today. Some poor reads AFTER my original idea to get filled around 55.60 failed and went down without me.<br />
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I tried to be long back to that level and that worked but again without me after a BE stop out.<br />
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Then later on, it tagged those areas and reversed down per my original idea but of course I was long gone and had not left an order in.<br />
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Overall, a reasonably good read on both the shorts and the longs but ended the day down 1 stop out after trying to be short in the noise before the cash open.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-52128465613054304932019-09-27T05:42:00.000-07:002019-09-27T05:42:05.322-07:00Another early dayOnce again another day done early.<br />
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This trade set up on the 5M chart and the daily. My original premise was all this support lost and a gap fill trade. I was right on both but executed rather poorly on the gap fill piece of it.<br />
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I got the trade on and figured I had plenty of time to get figure out exactly where I wanted my targets but the darn thing went so fast that I barely had time to adjust my preset target a bit before it just kept pushing down.<br />
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Then the price just stopped mid air for no reason and started putting in what looked like a potential V bottom and I got nervous and bailed out, just as price just collapsed from 55.40 all the way down to my original target of 55.00. I left another 40 ticks on the table. Had I walked away today would have been an outlier for me. Oh well. Time for the weekend.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com1tag:blogger.com,1999:blog-2626755200685854722.post-67037502631024383432019-09-26T05:52:00.001-07:002019-09-26T05:58:57.333-07:00Out EarlyOn the days I trade, I like it when I am done really early and today is a perfect example of this.<br />
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While the set up wasn't the best in my opinion, the conditions for a trade were all met. Because I was getting in pretty late after the short leg had started, I was very aggressive in moving to BE once it got started in my direction as I think there was a 50/50 chance of reversal long before continuing a short.<br />
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But it worked out pretty quick and I got 30+ ticks in just a few minutes. I know there is more but I only need one trade a day like this and I am a happy camper.<br />
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I should add that this trade was found on the 30M chart but executed on the 610 tick time frame.<br />
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Weather is great here, time for coffee and meditation here in my man cave with the roll up door up and the crickets signing.<br />
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Cheers.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-83119335450765158522019-09-19T07:12:00.000-07:002019-09-19T07:12:15.180-07:00Right but still wrongDid a stupid thing today.<br />
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Couldn't sleep last night, something I ate because my stomach made all sorts of unpleasent sounds all night long. After watching about 20-30 you tube videos, I decided to see what the market was doing.<br />
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I was long and tried to sleep while it was in progress but ended up not sleeping at all so got up to see it had went in my favor and then scratched out. I had a break even stop on it so I could sleep peacefully.<br />
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Then I finally got to sleep around 3:15ish and got up at 6AM. Made some coffee and decided to see what else I could find.<br />
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Turns out a nice trade area but I was so sleep deprived I should not have been making money decisions in that state. It worked but it was still the wrong thing to do.<br />
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Another thing that happened today was fear. I have been making new equity highs all week and I know it has been happening but this morning, I started thinking about it and I started to fear I would lose. I was able to suppress that fear and still trade well but that was a fear I have not felt in a long time.<br />
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I have decided to take a few days off and let the success this week settle in and let me get over new equity highs.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com4tag:blogger.com,1999:blog-2626755200685854722.post-47654289689906791782019-09-18T06:09:00.001-07:002019-09-18T06:09:47.749-07:00Sill shortStill a long way to go to close the gap from Monday but I think it might take a few more days and therefore I take my 30-40 ticks and be done for the day.<br />
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Today was pretty easy. Just sell the untested level, make sure my exit point is within reason and my bail out point isnt to far away just in case and go.<br />
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I was watching on all time frames but it was most obvious on the 1M chart which is where I took the trade and then monitored it on the 5M chart. It didnt need much monitoring as it went straight down from my entry point. That is the way I like a trade to work, quick and easy.<br />
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The weather is finally turning nice here and I am sitting outside trading on my iPad and drinking a lovely cup of coffee. Time for some meditation and then off to the "real" job!<br />
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Cheers.<br />
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Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com1tag:blogger.com,1999:blog-2626755200685854722.post-4272556393143742402019-09-17T06:14:00.001-07:002019-09-17T06:14:35.799-07:00Short biasI'm still short biased, so took one with the smallest risk I could find and it paid almost instantly. I think it has room to run a bit but there is significant support in the 61.58 area. Its where the gap open occurred and price has been there twice already so until that breaks, shorts for guys like me need to exit before that level and today, I choose what I call an inside swing level on the 5M chart to exit. Good for 40ish ticks.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com1tag:blogger.com,1999:blog-2626755200685854722.post-54881403365639986422019-09-16T11:21:00.002-07:002019-09-16T20:27:56.005-07:00Discretion today.Got up, saw a nice short opportunity, got in, was up 15-20 ticks then saw the $10 gap up, knew I was on the wrong side and bailed out with 10-15 ticks and walked away. I figured it might be pretty volatile today but in all honesty, it was just buy and hold but I was on the wrong side of that and I knew I wasn’t gonna shake the sell side bias.<br />
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Tiny money today but better than fighting a trend all day.!Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-73096372363310806182019-09-13T06:07:00.002-07:002019-09-13T06:07:26.847-07:00One and doneYesterday, 3 and out. Today, 1 and done.<br />
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I couldnt see bigger targets but 30 ticks is enough for me. Should have added but entry point was further along in the trend on the shorter time frames than I liked for added risk so left it alone.<br />
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I traded every day this week, one loser day and 4 winning days. A new equity high for me I think and going into the weekend on a high note. Roll over next week so probably wont trade that day at all. Maybe not at all until the volume is clearly higher on the new contract.<br />
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Time to go. The weather is beautiful here in sunny AZ so time to enjoy it. Its been a super humid summer which we are not used to so having the dry cool mornings right now is such a wonderful thing. I'm back to trading outside again with my laptop and my iPad. I have to say its my favorite way to trade!<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-16536608146574290282019-09-12T21:47:00.002-07:002019-09-12T21:47:29.224-07:003 and outTwice at the first level and once at the second one. All stops....and I ran out of time and ideas.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com2tag:blogger.com,1999:blog-2626755200685854722.post-58248251908388241852019-09-11T06:12:00.002-07:002019-09-11T06:14:22.805-07:00Another quick hitI like shorts and I cannot lie!<br />
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Seriously, it does seem like I am better to the short side but my intention is to just follow the momentum based on how price is moving. Thats what I did today. </div>
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I realize that many times I am short and the overall trend is up but I trade smaller time frames and I am ok with being counter trend as long as my time frame is short. Other times I recognize the over all trend is long and I am long. Those are the moments when I want to be large and hold longer if possible. Slowly starting to realize the difference. Sheesh.<br />
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I think price will end up in the 57.30 area today but I am done for the day. Lots to do.</div>
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Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-45258703566040182402019-09-10T06:22:00.002-07:002019-09-10T06:22:54.971-07:00Quick hitI wanted to be long today but couldn't really build a case. Turns out there was one but I couldn't see it. But there was a case for a short off a daily high double top after a long run up and that felt good to me even though it is counter trend on the higher time frames.<br />
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In these situations, best to be quick and both in and out.<br />
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A quick 30 tick hit short and flip long for another 10 or so ticks and time to hit the showers and get ready for the "real" job.<br />
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Short in the red, out at the green. Back in at the green because by now I had a clearer picture of where the longs were but no real longer term exit in mind. Only in it for ten as it was just a scalp. There was more of course, but I couldn't see it and it was at the open as well.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-6174335717627506602019-09-05T06:21:00.001-07:002019-09-05T06:21:55.115-07:00No stopsWell after all this time, I finally decided to stop using stops.....or at least a tight one. Things work so much better if you allow the trade room to breath. To be fair, I still have a disaster stop but its so big it feels like no stop.<br />
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Its only been a few days and I'm a bit jumpy with it and that bit me in the ass today but overall it is very freeing.<br />
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Lets see how it plays out going forward.Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com1tag:blogger.com,1999:blog-2626755200685854722.post-42341244992908717172019-08-10T18:09:00.001-07:002019-08-10T18:09:27.380-07:00Time fliesI've been having fun these last two and half months. Trading off and on, mostly off though as my day starts early and ends late most of the time. In general I have about 30-45 minutes to legitimate trading time in the morning which in all honesty, isn't really enough although I have gotten lucky a few times first thing in the morning.<br />
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Lately I've been toying with the idea of switching to forex swing trading. Smaller positions, hold a hell of a lot longer using daily and weekly charts, adding to the winners as they progress and trading CL in the morning only when a perfect set up happens which maybe once a week in my allotted trading hours and try to do that trade with near max size assuming risk allows.<br />
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I have a few days off at the end of the month and I will turn my attention to the forex thing and really consider it then.<br />
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On a side note about the "real" job, I am in the process of remaking an entire mortgage division in my image. I have great staff thats had no leadership in the last 3-4 years and they are excited to have someone with actual mortgage leadership skills at the helm and I am excited to be there with them. I have having fun at work which is more than most people can say!<br />
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Anyways, I will be back in a month or so with an update about forex and maybe some ideas about trading that instrument.<br />
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CheersPandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-43142862273217257512019-06-04T06:16:00.000-07:002019-06-04T06:16:04.785-07:00Change In DirectionJust when you think things are pretty well dialed in, things change. I have been working at a large national bank for the last two years and I thought I might retire from there in a few years but about three weeks ago, an opportunity presented itself to make a change.<br />
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I quit my job at the large bank and took a much better position at a small local financial institution making better money. It's a job I would do for free if I didn't need to feed my family!<br />
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I get to fix something that is broken and create something out of nothing. I love building and creating and I get to do this on someone else's dime!<br />
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So I have been focused on ramping up for this new opportunity and while I have traded off and on since then, it has been maybe only once or twice a week for the last three weeks. I haven't really had time for much. But I suspect this is getting ready to shift back to normal this week so we will see how it goes.<br />
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This was my trade from today. Roughly 53-54 ticks before commissions. I had a trade yesterday with similar results but I forgot to take a picture of it and I didn't have time to post.<br />
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Time to pack it in for the day. Lots to do. </div>
<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com0tag:blogger.com,1999:blog-2626755200685854722.post-6705974941179507942019-05-13T06:36:00.001-07:002019-05-13T06:36:02.253-07:00That's betterAn odd day, I thought we might a bit of a pull back after the overnight run up and I did position short but it was right into gained support. I took that trade off with a small loser but I should have just reversed the trade.<br />
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Instead I took the pull back and it was very uncomfortable so I added to it on purpose to try to force myself to be in the moment and that made it worse. So I closed the trade for a small loss with double size.<br />
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Then with a clear head once more, re-took the trade and went to wake my daughter up. When I got back, my target of 78 ticks was filled and I looked like a hero. I fully expected that to happen but just not so fast. I was prepared to wait all morning if needed to let price work itself to that level.<br />
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I had seen the gap on the daily chart, and we were not that far away so I elected to stretch a bit and see if I could put on the trade and hold it long enough to reach it.<br />
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Overall, well done other than not seeing the longs in the first place but credit is due for being able to switch bias quickly enough to take advantage of it.<br />
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The only real thing I regret is taking off the first long as it was completely valid just super uncomfortable.<br />
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<br />Pandawarriorhttp://www.blogger.com/profile/10235042735749767551noreply@blogger.com2