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#FuturesTrades March 8th Thursday 2007 Trade Log

#FuturesTrades is a private and free realtime trading posting chat room on the IRC Othernet server that allows traders from all over the world to communicate.

Click here for the instructions on gaining access to #FuturesTrades.

In addition, trades posted by members of #FuturesTrades in the below trade post chat log are by traders that do not have access to TheStrategyLab.com strategies except for NihabaAshi.

Fee-based clients of TheStrategyLab.com strategies use the private IRC rooms called #TheStrategyLab and #SwingTradingTSL.

Further, you'll find below the chat room time stamped text log of realtime trades (real money and simulator) that were posted by full-time, part-time traders from around the world and the timestamp is eastern standard time (est).

Also, below NihabaAshi's trading blog like comments, you can read the time stamped trades (prices, entries, exits et cetera) and market discussions that sometimes contains trading tips or insights that are more useful than what you will see at any other futures blog or chat room.

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such will contain trading tips that should help your trading as I attempt to sum up my thoughts for the trading day.

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ER2 EuroFX EC

+10.80 +0.0000

$1,080.00 $0.00

Trading Perspective

Profit/Loss Statement

Volatility was difficult to trade today due to the fact it had contracted more today in comparison to yesterday's volatility. However, trading conditions didn't improve until around 2:02pm est even though at first glance there was no reason for the increased volatility.

Yet, after the markets closed I took a closer look at the market via intermarket analysis and saw the culprit to today's sell-off that began around 2pm est.

There was a big time bearish signal in the Gold markets around 1:30pm est that saw the volatility jump considerably around 2pm est.

Also, if you take a closer look at my last trade of the day posted below around 4pm est...that's when the NYSE StreetTRACKS Gold GLD closed along with the stock market except for the CME Emini futures like ER2 that trades until 4:15pm est.

In fact, StreetTRACKS GOLD GLD is also traded on the Singapore stock exchange.

Anyways, upon closure of the U.S. stock exchange, a bullish signal appeared from the Trading Manual that I was able to exploit for nice profits.

The question now is this, was that price action between 4:00pm - 4:15pm est a bullish indication of what will occur tomorrow going into Friday's monthly unemployment report?

Therefore, if the price action is stable in the overnight trading action for CME and Eurex futures...I'll have a bullish bias and will do some size if volatility shows up with a pattern signal.

Finally, don't forget about the Yen and its impact on the U.S. markets now that its the talk of the town.

Key news of the day

Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of March...click here. To see results for the months of 2007 and prior years...click here.

Commentary by M.A. Perry (a.k.a. NihabaAshi)
intradaystrategies@yahoo.com
Note: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and such is represented by a particular type of price action from one of the key markets. You can view the charts and their clues that's associated with the key price action at our key market archives.


#FuturesTrades purpose, benefits and access info...click here.

Session Start: Thu Mar 08 09:25:25 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:25

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<jperl> ER2 VWAP data: 09:27

yesterday: 781.51

1 week: 778.27

1 month: 803.14

1 year: 749.75 09:28

<pat255> ty jp 09:29

<jperl> yw 09:30

<venedom> big fut + 09:32

<RussellDaytrade> Shorts ER2 @ 789.6 «« paper »» 09:33

Shorts ER2 @ 790.6 -> Add «« paper »»

<NihabaAshi> Volatility Analysis is usually difficult on "roll over" days. 09:35

:(

<pat255> yes &the charts all screwed up too..

<ItalianSharp> when will the june contract kick in? 09:36

next week?

<NihabaAshi> Long ER2 @ 791.60 -> medium size 09:37

<les> Long ER2 @ 792.3 «« paper »»

<NihabaAshi> Sorry for the late post...I'm also Long the March contract :(

<les> Exited 1/3 ER2 Long @ 792.8 --> + 0.5 «« paper »»

<NihabaAshi> Dumped all the March...still Long the June contract. 09:38

Exited all ER2 Long @ 791.80 --> + 0.2 09:41

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<ItalianSharp> yep...the march contract is less liquid... 09:43

<RussellDaytrade> Covered 1/2 ER2 Short @ 791 --> - 0.4 «« paper »» 09:44

Covered all ER2 Short @ 790.6 --> - 1 «« paper »»

i got filled on that 790.6 on the first price touch, even though it didn't trade thru it, sometimes indicative of lower prices to come. or just a lucky fill 09:47

<ItalianSharp> I'm still a bit confused on what contract to trade

volume seems to be on both contracts...:(

<RussellDaytrade> june gives you more time, vol about equal now on both 09:48

<ItalianSharp> actually, the march contract is still more liquid so far

by a few hundred contracts...

i can't believe mankind is about to set up turistic trips to the moon for rich people and we are still dealing with this crap of switchin contracts every 3months... 09:49

<venedom> lol 09:50

<les> the moon might be where some of them belong... 09:51

<ItalianSharp> les: lol 09:52

<les> Long ER2 @ 790.6 -> Add «« paper »» 09:57

<Chilly> Shorts ES @ 1416.00 «« paper »» 09:58

<les> Exited ER2 Long @ 789.8 --> - 2.5 «« paper »»

Reverse and Enter Short ER2 @ 789.8 «« paper »»

<NihabaAshi> Shorts ER2 @ 789.00 -> large size

I accidentally traded EuroFX EC for a small profit :) 09:59

Covered all ER2 Short @ 788.80 --> + 0.2

<les> Covered 1/3 ER2 Short @ 789 --> + 1.6 «« paper »» 10:00

<eminitrader> Long ES @ 1415.75 10:01

Exited ES Long @ 1416 --> + 0.25 10:02

Reverse and Enter Short ES @ 1416

Covered ES Short @ 1416.50 --> - 0.5 10:03

Reverse and Enter Long ES @ 1416.50

<les> Covered Remainder ER2 Short @ 789 --> + 0.8 «« paper »» 10:05

<jperl> ER2 VWAP 790.30 10:06

<eminitrader> Exited 1/2 ES Long @ 1418 --> + 1.5

<venedom> I am back these internet conection is lousy

<werner> gm all 10:09

<eminitrader> Exited Remainder ES Long @ 1416.75 --> + 0.25 10:10

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 10:12

<RussellDaytrade> Shorts ER2 @ 791 «« paper »» 10:14

Shorts ER2 @ 792 -> Add «« paper »» 10:17

<venedom> Shorts ER2 @ 792.30 -> medium size

Covered all ER2 Short @ 791.80 --> + 0.5 10:19

<Chilly> very late post, sorry .. virus attack .. running scans 10:21

Covered all ES Short @ 1417.00 --> - 1 «« paper »»

<RussellDaytrade> Covered 1/2 ER2 Short @ 791.2 --> + 0.8 «« paper »» 10:25

<NihabaAshi> Shorts ER2 @ 791.20 -> small size 10:26

Shorts ER2 @ 791.70 -> Add 10:27

Covered 1/2 ER2 Short @ 791.20 --> + 0.5 10:31

Covered Remainder ER2 Short @ 792.00 --> - 0.8 10:36

Long ER2 @ 792.70 -> small size 10:40

<Chilly> Shorts ES @ 1419.75 «« paper »» 10:41

<NihabaAshi> Exited ER2 Long @ 792.10 --> - 0.6

Reverse and Enter Short ER2 @ 792.10

Covered all ER2 Short @ 791.90 --> + 0.2 10:43

<venedom> have to leave will try to comeback later gl all 10:45

<NihabaAshi> ER2 volatility has declined...I'm now expecting a volatility spike here soon. 10:47

<Chilly> Covered 1/3 ES Short @ 1418.75 --> + 1 «« paper »» 10:48

Covered 1/3 ES Short @ 1419.50 --> + 0.25 «« paper »» 10:49

* codehead_afk is now known as codehead 10:51

<Chilly> Covered Remainder ES Short @ 1419.75 --> 0 «« paper »» 10:52

Shorts ES @ 1419.00 «« paper »» 10:53

<NihabaAshi> Shorts ER2 @ 791.80 -> small size 10:56

Shorts ER2 @ 792.30 -> Add 10:58

At 2 contracts now...I'm still not willing to risk much because of the difficulties in analyzing the volatility. 10:59

<Brutus> I'm seeing a bullish div in the ER

<NihabaAshi> I'm still NEUTRAL but becoming slightly bullish if this moves up a few more ticks to like 793.00 11:01

<pat255> thks niha ..should not have traded today..

got caught S & paid a price ...:9 11:02

<eminitrader> Long ES @ 1419

stops in ...be back

<RussellDaytrade> nice hangtime on the er this am. most likely resolve itself itself lower, in the final analysis 11:10

<NihabaAshi> Covered all ER2 Short @ 791.50 --> + 1.1 11:11

<RussellDaytrade> big t of 785.8 or so 11:12

<NihabaAshi> The scripted combined the results of the 2 contracts.

<Chilly> Covered 1/3 ES Short @ 1418.00 --> + 1 «« paper »» 11:13

Covered 1/3 ES Short @ 1418.25 --> + 0.75 «« paper »» 11:15

<RussellDaytrade> Covered all ER2 Short @ 791.1 --> - 0.1 «« paper »» 11:18

<eminitrader> stopped out 1418.50...late post

Exited all ES Long @ 1418.50 --> - 0.5

<RussellDaytrade> got filled that drop...hmmmgood thing for lower pcs?

somebody's happy to sell at that price 11:19

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 11:24

<RussellDaytrade> bought a little clwr, will buy more on a scale down 11:27

<jperl> Not much action for me this morning..... 11:31

here are the trades....

http://charts.dacharts.com/2007-03-08/JP ERL_011.png

<NihabaAshi> Not much worth trading today... 11:36

Best to keep the positions size managment on the small side of town. 11:37

<eminitrader> what a waste...and i'll be out tommorow :((

<Chilly> Covered Remainder ES Short @ 1419.75 --> - 0.75 «« paper »» 11:40

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<NihabaAshi> Long ER2 @ 792.80 -> small size 11:46

Hi hennessyxo...are you having connection problems ??? 11:48

<hennessyxo> seems so?

<NihabaAshi> I know asuni has connection problems in that if he's idle...he gets disconnected.

<hennessyxo> dont know why ... seems to be resetting quite frequently 11:49

<NihabaAshi> Anybody in here having connection problems...the Othernet people may be able to help in the #help room.

Exited ER2 Long @ 793.50 --> + 0.7 11:50

<pat255> vn niha ..

* Retrieving #futurestrades modes... 11:55

<NihabaAshi> I've temporarily removed the password...

<pat255> k..

<NihabaAshi> I'm just curious to see if hennessyxo and asuni continues having disconnection problems.

Shorts ER2 @ 792.10 -> small size 11:56

Position size error...I went 1 contract instead of 2 contracts.

Shorts ER2 @ 792.20 -> Add 11:58

ER2 volatility has declined...I'm expecting a volatility spike here soon. 11:59

Preparing to reverse my position or exit at a WRB pt level. 12:00

It's creeping and not spiking :( 12:04

<AmazingJason> perhaps this will be one of those creeper trend days

<pat255> niha u look at that to decide reverse 12:07

<NihabaAshi> WRB pt level now (792.10) but its a small one...will hold a little longer. 12:09

<pat255> niha u look at that to decide reverse 12:10

sorry ,,,reposed ..:(

<NihabaAshi> Covered all ER2 Short @ 791.80 --> + 0.7 12:14

+0.40 and +0.30 = +0.70

Might be time to redesign the trade post script :) 12:15

pat255...

I've been doing a lot of experimental trades of a "new edge" involving volatility analysis...

<RussellDaytrade> Shorts ER2 @ 792.6 «« paper »»

<pat255> i c...niha 12:16

<NihabaAshi> For now...when I'm in a trade and volatility declines after my entry...I tend to reverse when I see "actual prints" in the Time & Sales window on increasing size in the opposite direction. 12:17

There must also be faster prints and a WRB in the price action.

That's the reason why I didn't reverse that Short when price went against me...

<pat255> i c...would keep that in mind ...good point 12:18

<RussellDaytrade> Covered all ER2 Short @ 792 --> + 0.6 «« paper »»

<NihabaAshi> I didn't see a WRB, no increasing in size nor faster prints (price pressure).

Probably just a bunch of us retail traders grabbing a few ticks :)

<pat255> hmmm will reflect on what u said ...makes sense 12:19

<NihabaAshi> Thus, I try hard to reverse a position if I think there's institutional involvment.

<pat255> sure ...make sense will keep a T/S window open

ty niha

k guys back to office ty all..

<NihabaAshi> It's hard on the eyes so make sure your T&S window is next to your trading instrument.

I've been getting more headaches the past few months because of such. 12:20

<pat255> yes ...will keep it next to the platform..

lol

later guys ,,,gotta run to office

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 12:36

<Chilly> Shorts ES @ 1419.25 «« paper »» 12:37

<RussellDaytrade> Shorts ER2 @ 792.3 «« paper »» 12:42

missed my preferred entry, may take some gas, preferenced at last putting on 1 short 12:43

<Chilly> Covered 1/3 ES Short @ 1418.00 --> + 1.25 «« paper »» 12:48

Covered 1/3 ES Short @ 1418.25 --> + 1 «« paper »» 12:50

<RussellDaytrade> Covered all ER2 Short @ 792.3 --> - 792.3 «« paper »» 12:52

<Chilly> exit stop set ES @ 1419.25 «« paper »»

<RussellDaytrade> Covered all ER2 Short @ 792.3 --> - 792.3 «« paper »» 12:53

flatted it.

<Chilly> Trailing Stop Hit ES @ 1419.25 --> 0 «« paper »» 12:58

ES not showing my remainders the love today :(

<eminitrader> had to have a day like this ....had it too good so far 13:00

specially feb

<Chilly> true.. jobs report Fri. AM may do something .. pre-market I believe 13:01

<RussellDaytrade> possibility of 2 more days up on this bounce

<eminitrader> like i said my charts read a strong sell off tommorow...may happen in the pm session or a trend down day....but high probability close below open... 13:03

<RussellDaytrade> what are basing that upon? 13:04

<AmazingJason> yeah i'm curious too

<RussellDaytrade> achieving a higher res level(s)?

mid 20's on the es? 13:05

<eminitrader> es and er at a level where u can expect strong res...

<AmazingJason> i was bearish in the morning, neutral now, but I won't fight it if it continues

you think we'll go down in this PM session, or are you referring to tomorrow's? 13:06

<eminitrader> looks like it'll push higher or stick in this range....if this happens then tommorow sure is a very high probability 13:07

this is today ---looks like it'll push higher or stick in this range...

again guys i have no crystal ball when i say tommorows close is lower than the open 13:08

<AmazingJason> i'd love for something to materialize, getting bored :)

i hope you're correct, i'm a perpetual bear 13:09

<Chilly> bear flag on larger times frames 13:10

<AmazingJason> perhaps it's a bull flag...

<eminitrader> most prolly wont happen today....but u never know :) 13:11

<Chilly> downside target 1368-69

perhaps AJ

<RussellDaytrade> i know you gotta crystal ball in htere soemwhere! i am waiting for something that compels me to trade against.

whats next? a prostatre cancer etf??? 13:13

anybody watchin cnbc?

<eminitrader> it expect .it'll prolly test the lows ....and then have a rally around 1430-1440 before breaking the lows - prolly 1330-1350 area and then back to the 1500-50 ....now when and how this will pan out - idont know ...thats why i daytrade :)) 13:14

there we ho new highs on the er ...es shld follow shortly... 13:15

794-798 - see very strong res on the er 13:16

<RussellDaytrade> so, lower lows, first, then a rally to 1500 / new yearly highs?

<eminitrader> yep ...my hypothesis

<Chilly> possible M shaped test of top if no new ES hi ... since we're batting around ideas

<eminitrader> yep that will end the 4 yr bull mrkt .. 13:17

<RussellDaytrade> i think i agree with first half of your outlook / ie, second leg down / failed new high(s) on this main bounce move... 13:18

wow, someone is cooking something, smells too good, chowtime.

<eminitrader> u got someone cooking for u ...wow :)) 13:19

<Chilly> EM are you seeing 1330-50 level as app. 50% Fib. retracement from Feb highs back to June lows? 13:22

<eminitrader> yes :)) 13:25

u use fibs too chilly ? 13:26

<Chilly> sorry, my mom called .. hard to get off the phone .. politely that is :) 13:27

um, starting to .. and starting to pay more attention to all levels of S&R .. Fibs + MA's 13:28

<eminitrader> k.. 13:29

<Chilly> and pivots .. but too much stuff might give me excuses not to take the trade .. (Mark Douglas book) :) 13:31

Shorts ES @ 1419.50 «« paper »» 13:41

<eminitrader> Long ES @ 1420 13:44

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 13:48

<Chilly> exit stop set ES @ 1422.50 «« paper »» 13:49

<eminitrader> Exited 1/2 ES Long @ 1421 --> + 1 13:57

Exited Remainder ES Long @ 1420.25 --> + 0.25 13:58

<Chilly> If wrong on this small size trade, will still have paper $ for a paper pizza and paper soda for dinner ;)

<RussellDaytrade> Shorts ER2 @ 793.6 «« paper »» 14:01

Covered all ER2 Short @ 793.7 --> - 0.1 «« paper »»

late posts

not very inclined to fight it today, must be recharging, though it looks like this was the one worth bucking. 14:02

<Chilly> Covered 1/3 ES Short @ 1418.25 --> + 1.25 «« paper »» 14:04

<eminitrader> Long ES @ 1418.75 14:06

<Chilly> Covered 1/3 ES Short @ 1418.75 --> + 0.75 «« paper »» 14:10

exit stop lowered ES @ 1420.25 «« paper »» 14:11

exit stop lowered ES @ 1419.50 «« paper »» 14:12

holding 1

<AmazingJason> maybe you'll get your push down :) 14:13

<Chilly> M test of top "appears" to have triggered on ES 15M .. Target 1 hit 14:17

<AmazingJason> maybe we'll get a gap cover today lol 14:18

Shorts ER2 @ 783.7 -> small size 14:20

<Chilly> have a feeling longs will toast my final contract 14:23

especially if EM supersizes his order :) 14:24

<AmazingJason> push up here and i'll get out

<Chilly> yup, that's the pattern today .. at least for me

AJ you trading March? 14:25

<AmazingJason> oh

still on other contract 14:26

forgot to switch

hmm some stubborn suport here 14:27

<Chilly> exit stop lowered ES @ 1418.50 «« paper »» 14:30

<AmazingJason> Covered all ER2 Short @ 782.50 --> + 1.2 14:32

think we'll see more downside

taking all off this support level 14:33

<Chilly> Covered Remainder ES Short @ 1414.50 --> + 5 «« paper »» 14:34

<AmazingJason> this was why i was bearish in the morning

just that there was no continuation, it had to go through this creeper, low volume bear flag at resistance 14:35

ok that's all for me today, good first day off of my vacation :) 14:37

<Chilly> c ya AJ

nice bounce .. yeeha 14:41

<ItalianSharp> just saw 118 cars bought at the ask in YM @ 12355 14:47

that's over $600 per tick...ouch... 14:48

right now that guy who bought is down $3,600...

<Chilly> must be Berlisconi (spelling??) ;)

<ItalianSharp> well...maybe he covered his short position...

Berlusconi 14:49

<Chilly> thanks, sorry

<ItalianSharp> maybe

no problem...he's not my father...:)

<Chilly> he would probably have bought 118,000 cars 14:50

<ItalianSharp> yeah...lol

118 cars is a lot of cash...and you need lots of liquidity to buy all those contracts at 1 single level

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 14:57

<RussellDaytrade> nice whoosh.

<ItalianSharp> i think we might have seen the lows today 15:01

gap close postponed to tomorrow

<RussellDaytrade> at 9:12 this am i wrote, 'i have a big t of 785.8', looks like i was off again.

<ItalianSharp> yep RD...way off...lol 15:02

did you miss it by 3 ticks?

<RussellDaytrade> yes, at the time, the chart parameters did not allow /include that level of price dispaly, (the actual model was 785.12), so i 'wild-assed guessed it' / adjusted it a bit. close a fkn nuff! 15:04

possible 792 15:05

volatility doesn't go on holiday for long! 15:06

<sep34> IS..on march 1 around the time YM reversed in the morning, lareg buy orders were going off and i remember a 286 lot or 386 lot order on T&S.. 15:10

<ItalianSharp> sep34: wow...did you tail those orders? 15:12

<sep34> No .........

<ItalianSharp> how far did prices go from the price on the large prints?

<sep34> but, i waited for more confirmation 15:13

they were buying right into the sell off 15:14

<ItalianSharp> feeding off retail sellers

<sep34> if i remmember it was about 20-40 points.. 15:15

and then prices reversed

<ItalianSharp> that's enough on hundreds of contracts to be happy at the end of the day

sometimes i think about these large institutional traders who must buy/sell so many contracts 15:16

it's not an easy job to do

slippage is enemy #1

<sep34> I keep seperate T&S windo for orders above 30 lots..just to keep track 15:17

<ItalianSharp> this is why most of this major moves occur around key swing points...lots of orders accumulated around there ----> lots of liquidity to place large orders

<sep34> agree, I also think they are good at it because its hard to follow there foot prints

<ItalianSharp> sep34, why do you filter out by 30lots? 15:18

<sep34> >30 lots...looking for clues

<ItalianSharp> dont you think that some of these guys might actually try to place a 100-lot order in 10 ten-contract lots

<sep34> patterns

yes and they do

<RussellDaytrade> so IS, does that T&S window scroll fairly actively thruout the day? you referring to the er or es, or other? 15:19

<sep34> but sometimes they can't resist

<ItalianSharp> i've been following ER and YM

<RussellDaytrade> i see my question should've been posed to sep34. 15:20

<ItalianSharp> ooppps...sorry RD 15:21

i didn't read WHO posted the question...:)

<sep34> RD..I was talking about YM 15:22

<ItalianSharp> it depends...it scrolls fast at the open, around news time...and usually when prices approach key S/R levels

sometimes it just goes off out of the middle of nowhere...

for instance, over the last 40 mins there's been lots of buying lookin at large prints 15:23

<RussellDaytrade> ok, sems like a useful tool to include.

<ItalianSharp> more buying than selling

i think it's useful but you need to figure out how to use it

let's say it's a good tool to use as a filter 15:24

this is how i am using it right now

i am not good enough to use it any other way yet

<RussellDaytrade> thx guys, looks like you both use the same info to varying degrees. 15:25

<ItalianSharp> but let's say you are planning to go short and you are seeing large prints at the ask in the T&S...well...you may wanna wait and see some large prints at the bid before going against large buyers

sep34: how do you use T&S?

<sep34> For me a lot times it helps to stay in a trade longer and other times it keeps me from taking a early stoploss because i see large orders going my way 15:26

<ItalianSharp> or for instance, let's say you are long and see large prints comin out at the bid...well, you may wanna cover some of your positions

sep34: yep, this is how i use it too 15:27

for better trade management

however, sometimes i just think buyers have my back and i am all confident...and prices still take my stop-loss...:(

<NihabaAshi> Just got back... 15:36

Anybody know what caused the price drop after 2pm est. 15:38

???

<RussellDaytrade> didn't hear anything specific related to it... 15:39

<sep34> i don't think it was news related

<RussellDaytrade> i think it may be latent volatility returning to mkt, perhaos some news attached to it, was wondering myself, even though i was also expecting it to drop, for whatever the reason. 15:40

<NihabaAshi> Ok...thanks. 15:42

<Chilly> gn folks 15:43

Sponsor:
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<NihabaAshi> Shorts ER2 @ 787.50 -> small size 15:52

3 contracts only

Covered 1/3 ER2 Short @ 786.80 --> + 0.7 15:54

Covered Remainder ER2 Short @ 787.40 --> + 0.1 15:57

:(

I was expecting that to drop much further going into the regular hours 4pm est close of stocks. 15:58

Long ER2 @ 788.40 -> small size 15:59

2 contracts only

Exited 1/2 ER2 Long @ 790.00 --> + 1.6 16:01

I'm glad I don't get "married" to my trades because I was bearish going into the 4pm est close of stocks. 16:02

<werner> gn all 16:03

<RussellDaytrade> Niha, i am curious whether you use an automatic position reversal one-click order entry mechanism in your trading? 16:08

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 16:09

<NihabaAshi> Exited Remainder ER2 Long @ 790.40 --> + 2 16:11

That trade gave me my profit goal for the day. 16:12

Take care all and see all tomorrow. 16:29

My only pattern trade of the day was the last trade whereas all prior trades was pure "intuition trades" via a possible new edge. 16:30

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Thu Mar 08 16:36:24 2007 16:36

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