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#FuturesTrades July 15th Tuesday 2008 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+0.00	+156.00	+2042.60
$0	$15,600	$204,260

Not Applicable

(on vacation)

No Trades (on vacation)

click on image to view actual size

Current Performance Record

Supply/Demand Change of the Day

Profit/Loss Statement

Trade Posting Chat Log Info: My name is M.A. Perry (a.k.a. online as NihabaAshi - martial arts & Japanese Candlestick term) and I am the moderator of #FuturesTrades.

I use the below chat log as feedback to critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading. Also, the above profit/loss info represents my trades only and all trades were posted in real-time within 5 seconds unless otherwise noted after entry or exit as shown in the below chat log.

Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators).

There is some subjectivity involved with some of my trades when I'm developing a new entry signal, developing new trade management (hence the name TheStrategyLab.com) or when market conditions change resulting in me relying more on my market experience (intuition) instead of on my trading plan.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in real-time along with the trades of other members of #FuturesTrades...

If you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Time Zone Info Chat Log below is eastern standard time (est) - New York City, U.S.A and/or Montréal, Canada time zone.

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Session Start: Tue Jul 15 07:58:49 2008Session Ident: #futurestrades

* Now talking in #futurestrades 07:58

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm

<tzar> gm Nihaba_vacation

rick you ther 07:59

<rickf> gm 08:01

<tzar> today we beak 1200 08:02

:(

<rickf> we deal with it

<tzar> yea

but im concerned

<Widgetman> this is gona hurt today

hehe

<tzar> oh yea

<Widgetman> lota 401k margin calls today 08:03

<tzar> i might actualy shed a tear

dont even live in the usa

<Widgetman> LOL

<rickf> i'm torked - i panicked and closed down what would have been a nice profitable options spread last week had i let it run for a few more days. stupid stupid me

<Widgetman> me too rick 08:04

<rickf> was long the ultrashort financials etf

<Widgetman> I am short small amt of puts from yesterday at close

I may get chapped a bit in AM

but I expect a bounce sometime this week

I been playin index puts and calls

* rickf closed it out when skf was at 150, it's now pushing 200. :(

<Widgetman> XLF QQQQ SPY IWM

<tzar> your guys ES running fine? 08:05

mine trading like a wild horse

super fast

<rickf> not here

1214.25

14.75

<tzar> yea but transactions going in and out CRAZY speed

very choppy 08:06

<rickf> i dont see that here

<tzar> ok

gotta call brokr

<rickf> ppi and retail sales at 0830 08:07

<tzar> tahnks rick 08:15

<rickf> back later - tennis :) 08:37

<KN-SR> Long ES @ 1216 08:44

S.L 1.25 08:45

<tzar> morning KN-SR 08:47

<KN-SR> GM

<gator> KN-SR what does S.L 1.25 mean 08:48

<KN-SR> stop

stop loss

<gator> ok ty 08:49

<KN-SR> uw

<Trader> KN of the books that you mentioned in the forum, which 2 would you say were the most influential in developing your trading strategy?

<tzar> KN-SR do you think we close the gap of 12 poitns?

<KN-SR> i think we will close the gap and b4 lunch we will have some good up runs 08:51

<tzar> cool

<KN-SR> and about the books..... its really realy difficult to choose any 2 or 3 08:52

I had a very hard time just to chose all those 10 books from the books i have in my regular list

well, u can avoid fractal books if u want to 08:55

fractal is very complicated and takes a lots of time

so................................ 08:56

we finally broke the 1222

<tzar> :)

<KN-SR> :)

<tzar> 19 day trade is over

<KN-SR> yes 08:57

<jsbach> next support I have is 1209

<KN-SR> we will have some up move all week

i think

<tzar> are we going to break 1200?

in your opinion 08:58

<KN-SR> dont think it will happen this week, again, who knows!

my gal was 1222, and its done..............:)

i had a very hard time with some of my friends when i told them about 1222 08:59

when price wast at 1300 level

<tzar> hah

i would imagine

<Widgetman> nice read KN

on L 16

<KN-SR> welll, i had a very had time last night too 09:00

they all keep calling me all night

couldnt sleep much

<Widgetman> hehe

<TL-TradeLancer> Is the 1209 support projection based on MktProfile or other method?

<KN-SR> Exited 3/4 ES Long @ 1218 --> + 2

<jsbach> 1209 based on trend lines 09:01

<KN-SR> thanks widgetman

<Widgetman> don't know what ya do but you do it well :) 09:02

<KN-SR> just get lucky :)

<TL-TradeLancer> TY jsbach

<Widgetman> hehe

<KN-SR> well, will post the chart of the trade shortly 09:05

765 points i guess in total

<tzar> thats bigger then my credit score

<jsbach> hehe 09:06

<KN-SR> told u just got lucky

:)

<tzar> i wish i could lucky for 700 points too

<KN-SR> u will

u just need to allow some time 09:07

<tzar> yep

<KN-SR> and get old like me

very old

<tzar> haha

<pat255> vn kn

<KN-SR> thanks

<Widgetman> ahhh 09:08

now we know KN secret

wisdom

takes time to acquire it :)

<KN-SR> yes, old man will say anything :) 09:09

<DJ> this reads like a Merrill Lynch commercial

<tzar> kn can you email me your wisdom or fax it

<DJ> ;-)

<KN-SR> 2 for 1 deal 09:10

:)

<Widgetman> LOL 09:11

Long today is like tryin to hold wet TP

<DJ> i want that email as well

<KN-SR> today shuould be good for scalping......... 09:12

should

takes lots of energy...........thats the only down side 09:13

<Widgetman> y

<KN-SR> :)

old man cannt handle losts of things anymore :)

<Widgetman> ya never too old KN 09:15

:)

ES much stronger than ER

<KN-SR> Exited 2 ES Long @ 1219.00 --> + 3 09:16

<Widgetman> wtg

<KN-SR> ES is alwasy stronger than ER, i think

<Widgetman> you only trade ES ? 09:17

<KN-SR> yes

coz its liquid

<Widgetman> k

<KN-SR> 50 contracts with no problem

once i had like 15 contracts in ER, filled up in 15 different places

<Widgetman> my ass puckers when I pull trigger on 1 09:18

hehe

<KN-SR> ER is good for 8 or less contracts

YM, hardly 4

<DJ> lol, widgetman 09:20

i'm always in pucker mode

<KN-SR> :)

add 1 at a time in each three weeks

<Widgetman> fear is good 09:21

<KN-SR> by the end of the yr, u have 25+ contracts

Exited 2 ES Long @ 1220 --> + 4

h7

<DJ> h7 means "hit 7"? 09:25

<jsbach> it means "holding 7" remaining contracts 09:27

<DJ> ty

wow

widgetman, did that make you pucker?

<PapaJon> gm all

<jsbach> gm Papa 09:28

<ItalianSharp> morning all

<jsbach> morning IS

<drt> gm guys 09:29

<DJ> gm

<ripsboy> gm all... 09:30

<Awash> good morning all 09:31

<Splurge> gm 09:33

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 09:38

<Mauro> Shorts ER2 @ 657.1 09:48

<szubaark> Shorts ES @ 1415.75 «« paper »» 09:50

<Mauro> Covered 1/2 ER2 Short @ 656.1 --> + 1

<DJ> cov 656

gd call, mauro

vol spike made that trade for me 09:51

<Mauro> Covered Remainder ER2 Short @ 656.2 --> + 0.9

<DJ> gd call

<Mauro> ty DJ

<DJ> stalled

breaking my fib level, tho

oh well 09:52

short 655.5

<szubaark> Covered all Short ES at 1212.75 --> + 203 «« paper »»

<DJ> closed 09:53

<szubaark> Shorts ES @ 1214.75 «« paper »»

<DJ> 654,7

<szubaark> Covered all Short ES at 1212.75 --> + 2 «« paper »»

<DJ> next target 653.5

support 653.5 or if break lower, short 09:54

* codehead_afk is now known as codehead 09:56

<DJ> szu vg

:-d

<PapaJon> Bernie is speaking today.. in about 5 mins... so.. heads up

<DJ> ty, papa!! 09:57

<PapaJon> yw

<ItalianSharp> yeah, i smell a wild ride as bernie speaks

lots of volatility spikes here nad there

<PapaJon> i have to leave for the day.. so.. have a good and safe day all

<ItalianSharp> be careful to not get caught in the middle of those

<DJ> vg input

653.2 is er low for session 09:58

might be smart to wait bernie out

<KN-SR> Long ES @ 1210.75 09:59

s.l .75

<PapaJon> whoa.. bush is gonna be speaking at the same time

<DJ> er broke supp 10:00

<KN-SR> Exited 3/4 ES Long @ 1211.75 --> + 1

Shorts ES @ 1209.25

Covered 3/4 ES Short @ 1208.25 --> + 1

<szubaark> woow..Huge Spike

<KN-SR> Covered 2 ES Short @ 1205.25 --> + 4

<DJ> closed er 650

+6 10:01

<KN-SR> Covered ES Short @ 1205.25 --> + 4

Reverse and Enter Long ES @ 1205.25

s.l 1.25

<DJ> 645 next support level

<KN-SR> Exited 1/2 ES Long @ 1206.50 --> + 1.25

<DJ> vn 10:02

<Trader> KN are all your entries based on observing the MATRIX

<Baxwill> KN-SR u a professional wrestler or bull fighter ?

<DJ> (H) 10:03

<Baxwill> KN takes on all commers

<DJ> gm baxwill

<Baxwill> Hi DJ

<DJ> short er 650

<Baxwill> Nice trade earlier DJ

<KN-SR> Shorts ES @ 1204.50

s.l 1.25

<DJ> ty

<Awash> LONG 10840 on YM 10:04

<DJ> closed er 649.3

<KN-SR> Covered ES Short @ 1204.50 --> 0

Reverse and Enter Long ES @ 1204.50

s.l 1202

told u, today is good for scalping

<DJ> that is for sure! 10:05

grt day

er has not exhausted yet

vol drop

<KN-SR> Exited 3/4 ES Long @ 1205.50 --> + 1

<Baxwill> KN has direct phone connection to Bernie

<DJ> waiting for bernie (godot)

* nyquil is now known as silo 10:06

<KN-SR> bbl

<szubaark> CARNAGE

<DJ> yes!

this market has reason not to trust the fed

<KN-SR> too much work to trade and post at the same time 10:07

bbl

<DJ> y

<szubaark> yeah but i dont want it to Quickly,suddnenly,in a controlled manner, drop 20 Points then Chop rest of day LOL

<DJ> 645.40 is next er level

<KN-SR> btw, have posted the trade ------------ > http://thestrategylab.com/forum/index.ph p?board=3.0 10:08

bbl

<DJ> ty

<jsbach> thanks KN.

<KN-SR> uw

<pat255> ty 10:09

<Baxwill> KN your posts are much appreciated

<KN-SR> Long ES @ 1202.00

thanks

<DJ> that is for sure

<Baxwill> well be waiting

<Awash> lots of volume on that push

<DJ> tight stop? 10:10

<KN-SR> Exited 3/4 ES Long @ 1205 --> + 3

s.l 1199

<DJ> vg

your trades are fun to watch, kn

<KN-SR> we are going back to 1220+ area, i guess, by the end of the day 10:11

thanks 10:12

Exited 2 ES Long @ 1206 --> + 4

h7

<DJ> thing of beauty, kn

<KN-SR> :) 10:14

have a 7 point safty net.........lets see how it works

<szubaark> Shorts ES @ 1205 «« paper »»

<DJ> that es vol spike at 9:01 CST is noteworthy 10:18

<tzar> KN going for another 10 pointer

<KN-SR> Exited 1 ES Long @ 1207 --> + 5

Exited 1 ES Long @ 1209 --> + 7 10:20

<DJ> er vol spike, big player move 10:21

highest vol since open

one min chrt 10:22

bush looks scared, beat up and listless 10:24

<KN-SR> so, which part of those is new :)

<DJ> good point 10:25

should I add "dumbfounded"

emp on dumb

<KN-SR> he left wold economy complely out of balance

real piece of work, shit

<DJ> I am old as well, kn

and this is a perf storm 10:26

<KN-SR> ya, they have 300+ tri debt in bonds

<DJ> yet, they want us in control somehow

<KN-SR> war without raising tax. not a good idea

<DJ> pay taxes to the penny and absolutely mistake free 10:27

<KN-SR> yet, he gets elected for 2 times

just thinking who is to call dumb!

<DJ> :-( 10:28

<KN-SR> yes, religion is the focus of all problem

<DJ> my wife says that daily

<Awash> ES pullback 50% so far

<KN-SR> we should shoot anyone name religion and politics in the same sentence

root of all problem

<DJ> although, sometimes I pray when I trade 10:29

:-)

<KN-SR> ur private life is urs

<DJ> scary, huh?

<KN-SR> nop

i hate religion

<DJ> so do I

<KN-SR> if so problem, why should we have it anyway?

<DJ> i pray to the great trader in the sky

kn, you are my current prince of traders 10:30

<KN-SR> :)

<Widgetman> KN is a saint for helpin us :)

<DJ> better word

<Widgetman> has to be good for GOD points in heaven :)

<KN-SR> hahah

<DJ> lol

<KN-SR> my a...

If God is so great, why innocent ppl die, where is the god damm justice 10:31

<DJ> "works in mysterious ways"

is the line I always hear 10:32

<KN-SR> ya........my other a.......

<DJ> grab with both hands

<Widgetman> well KN I agree but at some point man has to be responsible for his actions

<tzar> no

err wrong window sorry

<KN-SR> nop

<Widgetman> there is evil in world

I have seen it first hand

<DJ> vol has dropped off

<KN-SR> you cannt trust me unless u see sometihg trust worthy...............

we should have same satandard in everyting

<pdays> Shorts ER2 @ 652.1 10:33

<Awash> Add LONG at 10840 on YM

<pdays> Covered all ER2 Short @ 651.5 --> + 0.6

<DJ> vg

<KN-SR> i have no problem with anyone unlsee anyone starts speaking heven hell shit

crap

<jsbach> hehe

<tzar> maybe earth is hell 10:34

<KN-SR> if there is any, i will face it, with what and how i have done

<tzar> that would explain the death of innocent

<KN-SR> i dont have to have faith as cover charge

humm 10:35

if this is faith and religion, i dont think i want it

<Widgetman> higher low ES I see tryin 10:36

maybe we catch a wave up soon

<KN-SR> :)

thats my guess too

i have a long - long trade open

<Widgetman> I see this on 610 tick chart

<KN-SR> from 1202

target 1275 10:37

will take 4 days, i guess

<Widgetman> no way

ya tryin for 1275 ?

holy chit

hehe

<KN-SR> yes

well, my stop is 1199

and already took out rest leaving 8

<Widgetman> I carryin some SPY puts I shorted and under water on them, but will hold till Friday as well 10:38

<KN-SR> so NO WAY it will be a loosing trade

we will see

<DJ> widgetman, this is quite a week

<Widgetman> hehe

option expiry baby

always is a Mr Toads Wild Ride

btw I did not mean to offend ya KN earlier 10:39

I apologize if I did

hehe

<KN-SR> :)

we are just talking

<Widgetman> y

<KN-SR> we are fine :)

<Widgetman> man

ya ever watch puts and calls on SPY 10:40

moves better than ES

hehe

<KN-SR> used to , but now dont

just watch them as a pre market analysis

<Widgetman> less risk for me

can afford to sit on a loss for a bit

why I play em

<KN-SR> i dotn watch spy when i trade 10:41

but its a part of my premarket analysis

sp 100 too

oem

<DJ> oex?

<KN-SR> yes

same thing

<DJ> i used to trade oex options

<KN-SR> i spend at least half an hr in premaket anlysis b4 i start trading us session 10:42

<Widgetman> what did today tell ya ?

<DJ> gd quest

<Widgetman> ass whoopin on L side I saw at 5am

<KN-SR> heding north

<Widgetman> hehe

<KN-SR> :)

<Widgetman> dn AM

up PM maybe ? 10:43

rare both sessions go same way

<KN-SR> i guess we will have 75 in few days

<Widgetman> fwiw XLF puts droppin so I think XLF rises hard soon

<KN-SR> well, u r never always right.............gess is as good as good guess gets

<Widgetman> may drag all up

<szubaark> Covered all Short ES at 1208 --> - 3 «« paper »» 10:44

<KN-SR> we will see 20 today

thats what i think

<Widgetman> k

22 is MM line

<KN-SR> what is mm?

<Widgetman> Murry math Lines

<KN-SR> ok

<Widgetman> I use em as a guide 10:45

<KN-SR> no idea

<Widgetman> like FIB

<KN-SR> dont use fib either

<DJ> i use fibs for brk levels

can be good

must keep re-drawing

<KN-SR> i have a problem

i dont want anyting in the 1 min chart i use :) 10:46

just the bars

anyting, i get lost

<Widgetman> price action ya watch ?

<DJ> price action

?

<KN-SR> i think i hate anyting in the chart window

:)

<DJ> whatever yur doing, it works

<KN-SR> once trade is taken, its all about management

no more technical analysis

<DJ> do you ladder in and out regularly 10:47

<KN-SR> will u pls explain it

<szubaark> Shorts ES @ 1207.50 «« paper »»

<DJ> i mean in for 10, out for 1/3 and so on 10:48

<KN-SR> yup

every single time

i try to make the trade b/e as soon as possible

<DJ> that makes sense

<KN-SR> i dont go for win, i go for b/e

<DJ> i used the same strategy on equities 10:49

<KN-SR> i just take care of my loss

<DJ> ty for that

<KN-SR> uw

<DJ> that is gd input

everyone, read that!

<KN-SR> Exited 1 ES Long @ 1210 --> + 8 10:50

<DJ> vn

<KN-SR> :)

Exited 1 ES Long @ 1212.00 --> + 10 10:51

<DJ> now i'm getting it 10:52

<Widgetman> dang nice KN

<DJ> vg!

trade mgment

<KN-SR> thanks

<DJ> glad i logged in here

(H)

bbl

<KN-SR> h 2 10:53

<Widgetman> dem XLF puts showed me a heads up 10:54

no idea why banking leads

such a mess it is

<KN-SR> coz fed is there to do the dirty job :) 10:55

<Widgetman> Blind leading the deaf dumb and blind

<DJ> opinion: fed knows but won't tell 10:56

bs all the wy

<KN-SR> :) 10:57

<DJ> my cynicism runs deep, like a drying well 10:58

the lower the water level, the deeper we go

<KN-SR> :) 10:59

another war , we will have a holy world with buch of a...h... running it with no hope or light in sight

<Widgetman> well I got 25ac in Tennessee and a backhoe 11:00

<DJ> ho?

<Widgetman> when they show up to seatl garden food I will bury em

<KN-SR> :)

<DJ> <(

* subq_ market profile charts today if you missed them -- http://www.charthub.com/chart/search/mpc hart

<Widgetman> what is up with AMEX

in and out

<DJ> what's up there, widgetman? 11:01

<KN-SR> dont know, i dont just watch dax and es when i trade

i close the rest b4 i start trading

i m a old old guy, cannt handle so much pressure

:)

but i think i get all the info from this room 11:02

<DJ> looks that way

<rickf> back

<KN-SR> alwasy someone posts

<DJ> a gd reason to be here

<KN-SR> yup

i agree

we have a good team work here

<DJ> yes 11:03

people shuld speak up

that is happening here

<Awash> What's crude doing?

<KN-SR> we will see 35 again 11:04

in crude

b4 it hits 50

<DJ> er, next break, 659.50 11:05

<KN-SR> and...................we are heading to 20 :)

<codehead> oil caving in big time

139

and falling

<DJ> wow

<KN-SR> yes

<codehead> 138.3

<KN-SR> 135 next 11:06

<codehead> 138

whew

<szubaark> Covered all Short ES at 1220 --> - 12.5 «« paper »»

<DJ> long er 659

out

<KN-SR> Exited 1 ES Long @ 1220 --> + 18

<DJ> +1.1

<KN-SR> h - last

<codehead> 136

wow 11:07

<szubaark> Shorts ES @ 1221.50 «« paper »»

<KN-SR> well, we will hit 75 in few days :)

<Awash> who, look at crude

Nice push off the lows 11:08

<DJ> er could resist at 666 11:09

seems to be res now

waiting

<ItalianSharp> KN, you mean 1275? 11:10

<DJ> nice all, es 1220

<ItalianSharp> or 1175?

<DJ> short er661.70

out

661.20 11:11

unsure here

.50

bbl

(C)

<KN-SR> yes, ItalianSharp

1275 in ES 11:12

<Trader> how did you get to 1275 KN?

<KN-SR> same way i got 1222 11:14

fundamental should soupport the fact in the board 11:15

we have nothing to suport ES to go further down in a month

we will see, i guess, 1100 level by the end of the yr

but for now after 100 points drop, we must have some pull backs 11:16

to make the adjustment

makret never NEVER drops so much without a retracement 11:17

<Trader> actually we have a drop of about 240

<KN-SR> not at a time

i m talkign about a week or two time scale

<Awash> big picture scenario 11:18

<KN-SR> we never know what will happen next week, but what we have in hand, its most likely hit 75 area in few days

<Awash> i know what you mean KN-SR

<KN-SR> :) 11:20

bbl

<ItalianSharp> oil tanking big time 11:25

<codehead> dropped 10

pretty quickly

8 of it very quickly 11:26

<ItalianSharp> wow

<codehead> that's what sent mkt up so hard

<ItalianSharp> in 2006 oil tanked from $80 to $50 and the drop started on july 14

<codehead> hm

<DJ> interesting historical note, italian 11:27

post july4th

<codehead> bastille day

14th

<GoodMood> vive la France !

<ItalianSharp> dollar rallying as well 11:28

<silo> what chart are you looking at 11:29

usd/jpy?

<ItalianSharp> eurusd, dollar index, usdchf

<szubaark> Covered all Short ES at 1414.25 --> - 192.75 «« paper »» 11:34

Covered all Short ES at 1214.25 --> + 7.25 «« paper »»

Buys ES @ 1415.25 «« paper »» 11:37

Buys ES @ 1215.25 «« paper »»

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 11:41

<shortorlong> i got a question for you guys.. what is more bearish, a drop of 5 pts on big volume, or small volume? 11:42

i always thought a drop on big volume was more bearish, but a drop on small volume means sellers were dropping, dropping, dropping, and no buyers were coming in

whereas a drop of 5 pts on big volume means buyers were giving it support, so somebody is still interested 11:43

<DJ> i think you are on to something on vol

here is my take:

In a rising market (considering all other signals) 11:44

such as res and support levels, and keeping it simple

I look for a topping formation (high in the range at high for day, for example)

then I look for a GREEN vol bar 11:45

which in my charts denotes BUYING vol

which, is really SELLING vol by the players

the market movers

then I wait a few bars (minute) and watch price action

<shortorlong> yep

<DJ> then short if it looks good

but, the thing about ranges, is that chance of a breakout

<shortorlong> thats the philosophy of reversing the buys + sells at extremes 11:46

<DJ> to a higher level

that's when knowing your supp and res levels comes into play

<shortorlong> basically lots of buy orders at a top means market makers (and the guys who bought low, pros) are selling

<DJ> so in essence volume is "COUNTER-intuitive"

<shortorlong> thats good dj, makes sense

<DJ> I used that method for trading equities

futures are way more fun, when I make $

;-) 11:47

look at today's ES minute chart

<shortorlong> what i need to do is consolidate what i'm thinking now (at drop of price on low vol is super bearish) with pullbacks and retracements

<DJ> at 10:07, there was a spike

<shortorlong> because, in a rising market, you get a pullback on low volume, which is a bullish signal (its just profit taking) 11:48

so how do you consolidate that, with the thought that a pullback on low volume is bearish cause no buyers are supporting

<DJ> i am trying, a new push, to look for spikes and trade less for more pts

vol seems high in the a.m. for me 11:49

I have to then get to other things ehre

here

I think that your low vol pull-backs, 11:50

when you look back at your day charts

are "consolidation" patterns and indecision

i use candles and look for doji's and harami's

very telling

today's es 9:55 to 10:04 sideways action 11:51

was a consolidation on light vol

<shortorlong> EST?

<DJ> then the big spike occurred at 10:07a 11:52

cst

and that was a signal that accumulated vol

was dumped by the players

<silo> Long ER2 @ 659 -> medium size «« paper »»

<DJ> it's good

<shortorlong> yeah, i like what you're saying about big buys at the high

well 11:53

no, not big buys

lots of buys (big guys selling to small guys)

<DJ> they sell into strength many times

for sure, it's easier on equities

action is slower

so, i use other indicators but try to keep it simple

for the simpleton in me

<(

bbl

<shortorlong> off to work, good luck guys 11:54

<DJ> silo, good call on er 11:55

now looking to short er shortly 11:56

664.6 or therebouts

willing to wait

vol spike at 10:56 cst 11:57

<silo> vix5min chart is a good thing to check out right now

<DJ> thx

what do you see, silo?

<silo> you'll see the up trendling

see if it breaks taht

it's breaking right now

<DJ> oh boy

<silo> just remember vix is the inverse of market price

<DJ> yes

waiting for er shake-out 11:58

<silo> target is around 666.40 or so 11:59

<DJ> yes 12:00

vg

<silo> yeah

:)

you know the NRT though?

<DJ> (ic)

<silo> from subq's chart i can't see the other VPCs

<DJ> i don't as it's been out of range all morning 12:01

i need ensign

looking at that service

TS has not Market Profile

not that I know of

<silo> it has shitty ones

i dont know if t hey work or not

lol

<DJ> i wonder as well

i use pivots and camarilla's as a way to mark breakes

breaks 12:02

<subq_> what market?

there may not be any naked pocs

i can post an updated chart

<DJ> that would be great

i think we need one

<subq_> what market?

<DJ> ty, subq

er 12:03

<silo> hey subq... in the future... could you make the chart's timeframe wider so we can see back a few more days for VPCS

<subq_> what instrument i should say

<silo> ones taht haven't been touched

:)

if it's not too much trouble

:)

<subq_> wider doesnt show more POC :)

the naked poc's show as yellow lines on the height

<DJ> maybe updated after 1st hour or so

<subq_> what instrument you want me to post?

<DJ> er

if that's what you mean

<subq_> http://www.charthub.com/images/2008/07/1 5/er2_mp_rth.png 12:04

<DJ> ty

<subq_> we have reached the lowest downside POC i have

at 648 area

nothing below that 12:05

actually let me try something

<DJ> 666.90 then

for a possible reversal

at 666.5 now 12:06

<silo> Exited all ER2 Long @ 666.40 --> + 7.4 «« paper »»

<DJ> good call, silo

vg

<silo> sorry if i posted the trades a little later.. i had to exit them in my platform first

<DJ> yep

<silo> so the time i post them here are off by a few seconds

<DJ> hurry up!

;-)

<Splurge> blimey a fellow IRT user - thought there wernt any in here 12:07

<DJ> i can't type with one hand either

<subq_> downloading 200 days of 1m data

looking 119 days back from 200 days ago, see if i can get anythin g:)

<silo> subq... this chart is much better

<szubaark> Exited all Long ES at 1222 --> + 6.75 «« paper »»

<silo> thank you so much

<DJ> short er 666.2

out 663.6 12:08

<silo> hey guys

oops nevermind

<DJ> ervl spike er at 11;06 cst 12:09

we could break lower now after a range 12:10

but, likely upside, i think to 666

<szubaark> Shorts ES @ 1220 «« paper »» 12:11

<DJ> doji star indecision candle just formed

<silo> hey subq 12:12

you there?

<subq_> y

<silo> cool

hey

i used the 7/14 chart earlier today

er2

for my POC.val, vah 12:13

that's what we're supposed to use right?

instead of the new chart yo uposted

<DJ> new one just posted, silo

<silo> since that's not finished as a daily chart

i know... the new one is only for checking older VPCs

<subq_> the one i just posted shows today

<DJ> http://www.charthub.com/images/2008/07/1 5/er2_mp_rth.png

<silo> we dont actually use that POC for today though

<subq_> so you have to disregard the current profile

<silo> yeah

figured

hey subq, could you post the future charts like that? 12:14

<DJ> ty subq for these charts

<silo> so we can look back mroe

to find vpcs

<DJ> this does not go unapprec

<subq_> i can post smaller charts sure

<DJ> that might fit screens better

<silo> k

<DJ> ty

<silo> just enough so we can see the nearest upper and lower VPCs

<subq_> smaller as in smaller profiles, not smaller screen resolution ;) 12:15

<DJ> vg silo

y

<subq_> well if you look at the original chart 649.50 is what you should have been watching

and it bounced off there

<DJ> i show a lower bounce on my charts, subq 12:16

646 level

is that an aberration? 12:17

i.e., ignore that

?

your newer chart does show that level

blue line

<subq_> blue line is IB though

<DJ> ib means? 12:18

<subq_> initial balance, nothing more than first hour of trading

<DJ> OK

so, a level to be ignored unless we break

649.5 12:19

<subq_> 649.50 was your level to watch

that was a volume based POC

<DJ> got it

<subq_> was naked before the day

its traded through now

<DJ> starting to get it

<subq_> below that it could get nasty :)

<DJ> slow old mind

:-o

very educational 12:20

a lifetime of experience being offered here

not mine, others

:-)

looks like market is non-reactive 12:21

to ben and bush's BS

chris dodd is on now 12:23

Mr. Puffer fish

these various hearings are all about talk 12:24

no action

getting very old

http://www.bloomberg.com/avp/avp.htm?cli pSRC=LiveBTV# 12:25

good feed for computers

short er 665.40 12:26

closed 12:27

664.80

er is ranging

bbl

<silo> Long ER2 @ 668.50 «« paper »» 12:31

<DJ> selling vol spike possible here on er 12:32

short er 668.1 12:37

out 668 12:38

ranging

sidelines for nowe 12:40

<silo> Exited all ER2 Long @ 669.30 --> + 0.8 «« paper »» 12:44

<DJ> vg exit, silo 12:47

short er 667.5

closed 667.4 12:48

churn

bbl 12:49

<KN-SR> still struggling in that area 12:53

need a 21 area to make a lower high to go up

21.75 looks good for a lh 12:54

higher low i mean

bbl 12:55

<Widgetman> nice scalpin day 12:56

all outta puts today 12:57

got decent +

man what a ride

<KN-SR> :)

<DJ> i'm at 5+ 12:58

made goal and out

<KN-SR> cool

<DJ> no reason to lose it back as I have in the past

:-@

<KN-SR> :)

good luck

<DJ> ty u2

<szubaark> Covered all Short ES at 1232.50 --> - 12.5 «« paper »» 13:02

<KN-SR> finally

Exited ES Long @ 1232.00 --> + 30

<szubaark> Buys ES @ 1232.75 «« paper »»

<KN-SR> i m done............ 13:03

<futurible> vn KN-SR

<KN-SR> :)

thanks 13:04

lets do some scalping 13:06

solow scalping

slow

Long ES @ 1231 13:07

Exited ES Long @ 1231.50 --> + 0.5

Reverse and Enter Short ES @ 1231.50

Covered 3/4 ES Short @ 1230.50 --> + 1

sl .5 13:08

Covered 1 ES Short @ 1229.50 --> + 2

Covered ES Short @ 1230 --> + 1.5

Reverse and Enter Long ES @ 1230

sl .5

hit and out 13:09

Long ES @ 1229.75

hit and out

nop

sl .5

Exited 3/4 ES Long @ 1230.75 --> + 1 13:10

Exited 1 ES Long @ 1232.25 --> + 2.5 13:11

h1

Exited ES Long @ 1230 --> + 0.25 13:12

Reverse and Enter Short ES @ 1230

s.l 32.75

bbl 13:13

Covered 3/4 ES Short @ 1227 --> + 3 13:17

s.l .25

<T-stop> KN is that sl from 27? 13:19

<KN-SR> no .25 ---> 30.25

<T-stop> k 13:20

tks for all your input

<KN-SR> uw

was thiniking of scalping 13:21

didnt happen

:)

Covered 2 ES Short @ 1225.00 --> + 5 13:22

h5

22 area!

Covered 1 ES Short @ 1223 --> + 7 13:25

Covered 2 ES Short @ 1224 --> + 6 13:26

so we touched 1222 13:28

<silo> er2's liquidity seems to be going lower as we approach deadline for its switch over to ICE 13:29

<Widgetman> ES slipped on a banana peel KN threw out on da floor

hehe

<KN-SR> Covered 1 ES Short @ 1222 --> + 8 13:30

h- last 13:31

tp 1220

+ 10.00

humm 13:32

looks like we are down with 21.75

s.l 0.00

let see what happens

we need to cross 28.25 to have a up trend again

26-28.25 is gray area 13:33

<silo> Long ER2 @ 667.10 «« paper »» 13:34

<KN-SR> we should see 19.25 sometime today again

<lisa> KN, ES? 13:35

* szubaark is now known as szubaark_away 13:36

<silo> Exited all ER2 Long @ 666.10 --> - 1 «« paper »»

<rickf> lol - the only thing green on my active watchlist is the XLF .... even the VIX is down right now 13:38

<Widgetman> ya think LOD will hold KN ?

<KN-SR> yes

<Widgetman> k

<KN-SR> we are done with low

<Widgetman> I watchin XLF puts again

they led the rally

<KN-SR> now its all about stop hunt 13:39

<Widgetman> see if I can tell when we done dn again

<KN-SR> and making ppl confused

<Widgetman> no way I shortin this low

<KN-SR> unless u already have a short :) 13:40

no point of thinking of sorts

shorts

<Widgetman> y

<silo> kn, yo use velocity futures as broker?

<Widgetman> I buyin dips

<silo> one of your 8?

<KN-SR> hahaha

no

<silo> :P

<KN-SR> tradesatation transact rj ib mb are the main 4 i use 13:42

5

:)

<rickf> le's not forget that secret link to the CME you have :) 13:43

shorting by though control, i think it was

<KN-SR> Covered ES Short @ 1224.25 --> + 5.75

Reverse and Enter Long ES @ 1224.25

s.l 1.25

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 13:44

<KN-SR> lrg ...... will take another try to touch 19 area

Exited 3/4 ES Long @ 1225. --> + 0.75 13:45

nop

Exited 3/4 ES Long @ 1225.25 --> + 1

Exited 2 ES Long @ 1227.25 --> + 3 13:50

h5

Exited 1 ES Long @ 1228.25 --> + 4 13:55

Exited 1 ES Long @ 1226.25 --> + 2 13:58

hit and out 14:09

need a break..............just got an Idan r CD

take care all, see u later - today/tomorrow

http://ca.youtube.com/watch?v=i0PWukxRV8 U 14:10

Good Trading

<rickf> cya

<T-stop> cya, tks again 14:14

* szubaark_away is now known as szubaark 14:28

<KN-SR> humm 14:58

so 21.75 is holding up all day ....................

<DJ> i clicked the link, is this a singer yu know, kn? 14:59

<KN-SR> Idan Raichel Proect 15:00

has 3 cds

album i mean

Israeli ......

<rickf> hrm...waiting for the last-hour fun to start 15:01

<DJ> i'll ck it out

<rickf> this nice creeping trend, lulls everyone into going long...

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<KN-SR> ethiopian and middles eastern fold musician

<rickf> waiting for the "wham"

<KN-SR> but have lots of influence from hindi and urdu

<DJ> the tempo's are fantastic 15:02

<KN-SR> anything further, should ask tzar :)

yes

i just received the 2nd cd

still waiting for the last one

its in Hibru 15:03

<DJ> cool

<tzar> Hebrew :)

<KN-SR> yes

tzar should take over from here

:)

<DJ> one of my neighbors is born Israeli

<tzar> hah

your doing great

<DJ> int guy

bbl

<KN-SR> still transating

lating 15:04

we should see 42 soon :) 15:05

half way through to 75

<Awash> i'm speculating 42 today 15:09

<KN-SR> so we are in the same page at this moment

<tzar> hah

<KN-SR> :) 15:10

<Awash> you holding any longs from earlier? anyone else other than me

<KN-SR> yes

<Awash> k

<tzar> yes, after long reasearch i came to conclusion that 42 is invetable

<KN-SR> 16 contracts from 1202

<silo> if VIX breaks this level here

it's ca-ching time for the longs :)

<DJ> nice!

<KN-SR> need 77 15:11

<Awash> Got ten from 10840 on ES and still holding 6 from ES position yesterday

<KN-SR> cool

<Awash> YM actually

but i usually swing my positions

<KN-SR> i m trying to have the largest gain in ES for me

if everyting works out fine it will be 1200 points 15:12

<Awash> nice

<KN-SR> lets see, u never know

atleast wont be a loosing trade if everyting falls apart

<Awash> just don't let the market advance up and hit 72 and then you don't bank like you anticipate

<KN-SR> :) 15:13

all the analysis should be done b4 the trade

<Awash> i've had that happen a lot

<KN-SR> once in the trade, shuld stick with the analysis

no more new analysis

<Awash> understood

<KN-SR> so, its a done deal

either i will get it or wont loose anyting 15:14

<DJ> shorted er 674 BTC 671.1

could not help myself

<KN-SR> :)

<DJ> +8 today

now I'm out

<KN-SR> nice 15:15

<szubaark> Exited all Long ES at 1227 --> - 5.75 «« paper »» 15:25

<rickf> k guys i need to run - good trading, see you all tomorrow 15:30

<DJ> gn 15:45

see u all tomorrow

<X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at www.thestrategylab.com/FuturesTradesChat Room.htm 15:50

<Awash> taking off, still holding all long positions (ES & YM) 15:51

* Awash is now known as Awash_afk

<KN-SR> humm 15:53

now we have 19 area

<szubaark> doesnt look good, again, another rally sold off 15:58

<KN-SR> stop hunt

b4 heding north

it will convince u that its going down, no other way..............than bam......... 15:59

:)

old and classic

<Trader> it does not have too much time to reverse today

<KN-SR> yes

globex will lead it to 8 area 16:00

<ItalianSharp> KN, you see an up day tomorrow?

<KN-SR> ys 16:01

<JimL> if you have a moment KN, why 8?

<KN-SR> thats the area

of strong res

i dont think it will drop below 1200 so soon

it will but its too early, economy is not that bad 16:02

we are done with the drop

now this european session will give the hints

today's dax nik and hsi is very important 16:03

<Trader> what is nik and hsi? 16:04

<KN-SR> japanese index and hongkong index 16:05

<tzar> nikee

<Trader> thanks 16:06

<KN-SR> uw

well, we have 300 tri debt per month to china india japan german.........

3 tri 16:07

not 300

they need us more, than we need them at this moment...........we are their market

<codehead> incediebl... YM 300 point range exactly, retraced half of it

<KN-SR> :) 16:08

for a trend analysis nq is more realiable than ym

<codehead> more than half, was looking at previous top

<KN-SR> often european markets will tell u what going to happen here 16:10

its happens often............they kind of drive our market to some direction 16:11

it

<codehead> .618 retracement right now

<KN-SR> anyway, thats a long long and long discussion..........may be some other time

wekll we are in that are 16:17

a

have a nice evening/night........take care 16:18

<codehead> INTC up...

now down... 16:22

* Disconnected 17:15

* Attempting to rejoin channel #futurestrades 17:21

* Rejoined channel #futurestrades

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