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#FuturesTrades July 25th Friday 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: Fri Jul 25 00:00:00 2008Session Ident: #futurestrades

#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 07:29

<anglo> gm 07:59

<Trader> gm 08:00

* IceGuest_75 is now known as willson 09:06

<ItalianSharp> morning all

<DJ> gm 09:24

<PapaJon> gm all 09:26

<drt> gm everyone 09:29

<silo> Shorts ER2 @ 707.80 «« paper »» 09:32

<Awash> good morning all 09:34

<+DJ> gm

<szubaark> Shorts ES @ 1255 «« paper »»

<+silo> Covered all ER2 Short @ 706.3 --> + 1.5 «« paper »» 09:36

<+szubaark> Wrong, you should treat your Paper trading AS IT WAS LIVE

<+silo> Shorts ER2 @ 705.20 «« paper »» 09:41

i do.

but if i have to go make lunch

or use the bathroom

this is not hte same as carelessly trading

obviously if i trade with real money i will use stops

but i can't display stops being hit automatically with this script 09:42

Covered all ER2 Short @ 704.40 --> + 0.8 «« paper »» 09:44

<+DJ> silo, i have a toilet built into my office chair 09:59

;)

<+silo> that's just nasty :) 10:01

* subq market profile charts for today --- http://www.charthub.com/chart/search/mpc hart --- happy trading 10:31

<manto> sub do u show vah val etc on MP? 10:32

<+silo> Long ER2 @ 710 «« paper »» 10:35

Exited all ER2 Long @ 710.10 --> + 0.1 «« paper »» 10:37

<Nesi> Long ER2 @ 710.50 10:40

<+silo> Long ER2 @ 711.30 «« paper »» 10:41

Long ER2 @ 712 -> Add «« paper »» 10:42

<+Nesi> Long ER2 @ 712.00 -> Add

<+silo> :P

<+Nesi> Long ER2 @ 712.50 -> Add 10:45

<+silo> dax spiked way up 10:46

Long ER2 @ 712.70 -> Add «« paper »» 10:48

<+Nesi> Long ER2 @ 713.00 -> Add 10:54

<+Awash> ER2, is it really awesome to trade? 10:56

or is it a lot easier than ES? 10:58

<+Nesi> Exited 1/2 ER2 Long @ 715.00 --> + 2 10:59

<+silo> Exited all ER2 Long @ 715.50 --> + 7 «« paper »» 11:00

<+Awash> great trades guys

<Alturus> what do you guys trade with that auto add's your trading activity in the chat?

<+Alturus> what do you guys trade with that auto add's your trading activity in the chat? 11:03

<+Awash> Alturus, i guess no one wants to chat with us 11:10

<+silo> my bad 11:11

what's up

<+Awash> i had a question and alturus had a questions

i'll retype 11:12

ER2, is it really awesome to trade?

<+silo> it all depends on how comfortable you are with it

it's faster than es,nq

ym is fast too i hear

<+Awash> is it easier? 11:13

<+silo> no... the faster it is... usually more careful you have to be

<+Awash> k

<+silo> each point in er2 is 100 bucks with only 1 contract

if you're just getting into futures.... i would suggest other ones

<+Awash> i need to look at it more, keep a chart up

<+silo> also because er2 is going to move to another exchange soon

so er2 might be dead soon 11:14

within a month or 2 months

so i need to start looking for another one to trade too

<+Awash> i remember when it first came out, the volume was thin, what's the average volume (daily)?

<+silo> not sure 11:15

<+szubaark> talking about Dead, this market in a Coma again 11:16

<+Awash> [10:03] <Alturus> what do you guys trade with that auto add's your trading activity in the chat? 11:17

alturus, i use ninjatrader, it's a great and stable platform, it's free, it has a free and unlimited simulator and a lot of great features, in particular auto adds at no extra cost 11:18

each person in here probably uses something different but i love NinjaTrader 11:19

<+Alturus> ohh ok, thanks. I'll take a look at ninjatrader 11:20

<+Awash> what do you use currently? 11:21

<+szubaark> Covered all Short ES at 1260.50 --> - 5.5 «« paper »»

Buys ES @ 1260.50 «« paper »»

<+Alturus> im using interactivebrokers to trade now 11:23

<+szubaark> Exited all Long ES at 1258 --> - 2.5 «« paper »»

Shorts ES @ 1258 «« paper »»

<+Trader> ZeroLineTrader is free for 90 days and it is less than $100 per year 11:27

<palmer> quck question 11:28

<+Trader> it has very limited charting capabilities but the DOM is ok

<+palmer> whaish broker do u guys use

<+Trader> you can use NinjaTrader for good charting and trade with ZLT

<+palmer> which

zlt?

<+Trader> which ????? 11:29

<+palmer> what broker do u guys use? lol 11:30

<+Trader> IB

<+palmer> i use TS but fills get slipped too much

<+Trader> do u use limit orders? 11:31

<+palmer> yep

sometimes market

<+Trader> so how can u get slippage?

<+palmer> when i use market 11:32

and matrix freezes up much too often

<+Trader> i c

does anyone here trade not for recreational purposes?

<+palmer> i trade for real 11:33

this is what i do

:)

<+Awash> i trade for real, and i use the profits for a portion of income

<+Trader> do u derive all your income from trading/

<+palmer> yep

<+Awash> NO, but my profits beat my salary

<+Trader> ;-) 11:34

hhow long are you consistantly profitable? 11:35

<+Awash> well, i have had a losing month since December 2006 11:36

well, i have NOT had a losing month since December 2006

<+Alturus> Awash, so you trade work?

<+Awash> at work?

<+Alturus> you said your profits beats your salary. 11:37

<+Awash> yes

<+Alturus> i thought u were getting paid a salary by your employer

<+Awash> i work a regular job, but swing trade part-time

<+Trader> swing or day? 11:38

<+Awash> swing

i swing mostly all my positons over days

i'm still holding Short from Tuesday and Wednesday 11:39

<+Trader> how long on average do you stay in a trade?

<+Awash> until targets are met

okay, i'm short with an average of 1272

my target is 1247 area

<+Trader> BTW sorry to ask so many questions. 11:40

<+Awash> i was looking to close the position in the overnight session had we traded that low

<+Trader> i hope they are not personal

<+Awash> no biggie, i don't day trade so i'm not looking to add more to my position

i just sit and watch all day, kind of boring

<@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

<+Trader> could you tell us something about your entry setup?

<+Awash> sure

but i've been mentioning it all week and posting it here in the room

i'll walk you through it agin

again

<+Trader> i was in a Pristine workshop this week

<+Awash> my short was a pullback setup on the daily 11:42

pullup any daily chart on ES

<+Trader> just a sec

<+Awash> or $SPX and you'll easily see what i'm about to discuss

<+Trader> ok 11:43

<+Awash> on the daily, you'll see two trends, intermediate trend is down, short-term trend is up

<+Trader> y

<+Awash> the short term trend has pulled back off the 1200 low all the way back to the 38% retracement area to 1292

this area was also the july high

<+Trader> y 11:44

<+Awash> now, picking a pullback entry point is difficult, sometimes price goes to the moving average sometimes else where

so i decided to scale in from 1266 to 1296

overall i have an average of 1272 after scaling in 11:45

<+Trader> how many contract @ a time?

<+Awash> once price tapped 1292 on Wednesday we reversed nicely, you saw a lot of participation at that area 11:46

<+Trader> there are 5 jumps of 6 points between 66 and 96

<+Awash> yesterday we sold off, so I sold the pullback, and i'm speculating we'll continue to retest prior lows

8-15 contracts 11:47

[10:46] <Trader> there are 5 jumps of 6 points between 66 and 96, what does this mean?

<+Trader> i just devided the are of 1266 to a2196 into equal portions

<+Awash> okay, that's irrelevant to my trading 11:48

i just scale in over that range

<+Trader> and if after scaling in from 1266 to a292 your average is 1272 that means that most of your contracts were shorted @ 1266

<+Awash> i was suppose to add 4 more at 1291 on wednesday but i never got the fill 11:49

no

<+Trader> if you start @1266 and your average is 1272 then it is.

<+Awash> i shorted 1260, and 1285, and was suppose to add four more at 1291, which would have made my average around 1278

<+Trader> because we got as high as 1292

<+Awash> but i never got the fill 11:50

once we hit 1292 area, i saw the tremendous amount of distribution come in, i set my order, but we dropped too fast

<+Trader> yes it was a momentary tough then

<+Awash> the train door opened but i didn't stop on

step 11:51

<+Trader> it was an Express ;-)

<+Awash> very fast, a lot of bigger trades faded the move up there. it was quick

bigger traders 11:52

<+Trader> unfortunately i am not in your position to hold 30 or more contracts overnight.

<+Awash> i suspect a lot are not, i'm not in the position to hold 1000's overnight, although i wish i had the account size for that 11:53

the pullback entry signal was a simple trade 11:54

<+Trader> what was the highest number of contracts you held overnight ever?

<+Awash> 12, i'm a baby trader

<+Trader> hahaha

what is a baby trader?

<+Awash> but it adds up when you bank 30 points or so 11:55

well, my trading club members are 50 to 100 lot swingers

<+Trader> on 12 contracts 30 points is a small salary. 11:56

<+Awash> you think?

<+Trader> of a secretary for instance

per year 11:57

12x30x50=18,000

<+Awash> well, if i hit my target today, that'll be my 3rd 30 point win in July alone.

<+Trader> is it 30 points per contract or per trade?

tell me that it is per trade and not per contract so that my color changes back from green :-)) 11:59

<+palmer> that's not 18k 12:00

1800

opps

<+Trader> 12 contracts @ 30 points @ $50 assuming you are trading the ES is 18,000 12:01

<+palmer> i was doing ym

u right

<+Trader> then it is 1,800

thank you for sharing your setup 12:02

I am in Toronto Canada, where r u guys?

<Awash1> internet dropped 12:03

<+Awash1> what's the ES price?

<+Trader> 1257.5

<gary> 1258

<+Awash1> trader, do you have a general understanding of that last trade i placed? 12:05

* Awash1 is now known as Awash 12:07

<+Trader> since no one answered my question about where you are from I guess that you are not fro earth. (I was watching a documentary about Area 51 last night so I am under the influence) 12:16

<+Awash> you asked that question?

<+Trader> your connection was lost at that moment

<+Awash> repost, my internet dropped 12:17

<+Trader> I just did........ 12:18

<+Awash> i would probably venture to guess that most people here are from the U.S.

although there's no doubt that we have traders from all over in here but most are probably from the U.S.

<+Trader> probably 12:19

<+silo> that's a fair assumption to make

what's up

<+Trader> not too many in Canada

<+silo> niha is from canada

<+Awash> yeah but he's American

<+silo> yeah

<+Awash> he moved to Canada

<+silo> are you looking for a legit canadian to marry?

<+Trader> yes he is in Quebec 12:20

;-)

I am practically married silo.

<+silo> i guess my mail order bride scheme did work

<+Trader> the personal approach works better. 12:21

<+Awash> do you all have on any positions from the highs? 12:22

<+silo> no

<+Awash> k

<+Trader> no 12:23

<+Awash> k 12:24

let see if we can get below 1255 12:25

<+Trader> Awash your setup was a reaction to a fib retracement. what setup do you use which is not reactionary?

<+Awash> i have a lot of plays but i because i'm swinging i have found myself using a lot of discretion on my entries 12:26

each play will be uniquely different than the next

but generally, my setups (at least reversal type signals) are based on how price reacts near a key s/r level 12:27

<+Trader> thank you 12:31

<+Awash> trader, what's your frequency? 12:32

<+Trader> 2-3 and 15 mins 12:33

i like to feel my Adrenaline flowing

<+Awash> cool, what type of setups do you trade?

<+Trader> I am almost ashamed to say but the best description would be Trend line breaches and THE SEAT OF THE PANTS method 12:35

<+Awash> k

<+Trader> I am trying to crack this nut for a long time without much success 12:36

<+Awash> understood, don't we all

<+Trader> you seem to have done it

<+Awash> have you ever considered trading pullbacks

<+Trader> no losing month since 2006 12:37

<+Awash> i have, that's why i'm discussing pullbacks

they have a high probability of success

<+Trader> I think that yesterday a small light bulb became a live in my head

<+Awash> once i was a daytrader and my friend kept telling me to stop trying to catch every reversal and basically bad mouthed me into trading pullbacks 12:38

<+Trader> I noticed that I am mostly trying to predict a turnaround

and I am thus trading against the trend 12:39

<+Awash> tryiing to pick each turn is too difficult especially during major trends (like yesterday)

look at pullbacks

<+ItalianSharp> Awash, what are the requirements of a pullback? Pullback off what kind of price action? And why can't you trade pullbacks intraday?

<+Awash> a pullback is a correction after a breakout, on any type of price action that meets the definition i just mentioned 12:40

you can trade pullbacks intraday but the ones i see that are most successful are the ones done off current intraday action 12:41

let me post a quick chart 12:42

<+ItalianSharp> sure

<+Awash> http://www.elitetrader.com/vb/attachment .php?s=&postid=2003237 12:43

there are tons on this charts, tons = meaning a good few

<+Trader> thank you. 12:44

by what you said earlier it seems that you are waiting for retracements to significant Fib levels and then you go in. Is that correct?

<+Awash> when i was day trading the average pullback was 50% on ES, it seems to still be that way

yes 12:45

<+Trader> and the target is S/r levels?

<+Awash> usually, but that can change per market condition 12:46

just remember on strong trending days, you may not get 50% but you'll get 38% or to a key moving average

<+ItalianSharp> Awash, before you mentioned pullback off breakouts...however, in the picture you posted the last pullback came off a rebound off the lows, without ES breaking out any levels...so I am just wondering, is it pullbacks off any big swings that you look at? 12:47

<+Awash> sorry, do you mean off the chart i posted? 12:48

<+ItalianSharp> yes

that last pullback from july 22

i cant see a breakout

ES should have gone above 1262 for a valid breakout to occur

to me that's just a nice swing 12:49

<+Awash> oh no, that's clearly a breakout and then price corrects

<+Trader> so if you scale in as market retraces where do you place your stops in case the pulback is really a change in the trend?

<+ItalianSharp> i guess it'd be better to define a breakout first to avoid confusion...:( 12:50

<+Awash> then i'll post another chart from 7/22 12:51

with a definition

<+ItalianSharp> anyways, i always found it hard to understand FIB stuff due to the subjectivity of determine the range of the fib lines

<+Awash> don't think of it as fibonnaci, although that sounds crazy, but i never read anything on it 12:52

<+ItalianSharp> i know many traders can do it really well - and you may be one of them of course - but i really suck at it

like eminitrader is one of those

i trade Niha's stuff and I guess my brain is structured to understand WRB analysis better

:) 12:53

i am just curious about what other traders do

<+Awash> still posting chart

<+Trader> Awash the second pullback - the high point is the same as the first 12:54

why isn't the new high the point of 50% of the first?

<+Awash> i'll answer your question in a second, still posting commentary to the chart 12:56

okay, here is the chart 13:03

http://www.elitetrader.com/vb/attachme nt.php?s=&postid=2007259

and then go back and pull up the first chart (the first one is a 5 minute chart) 13:04

http://www.elitetrader.com/vb/attachme nt.php?s=&postid=2003237

on 7/22/08 price gapped lower and consolidated a bit in the 1251 to 1249 area and then advanced 13:05

price advanced all the way up to 1257.50 area, came back 3 points and then broke out to a new high 13:06

on the chart i labeled the breakout

does everybody see that on the one minute chart? 13:07

does everybody see that on the one minute chart?

<+gary> y 13:08

<+Awash> immediately once price broke out to a new high, we pullback again, this time we pullback to the 50% area 13:09

on the chart I labeled it as "price corrects on 1st attmept almost to 50% zone" 13:10

the 50% zone is 1254.50

it slowly advanced after the first attempt and retested the 50% zone again, touching exactly in the 50% area 13:11

<+Trader> mailman at the door brb

<+Awash> at that point you should or ALL PULLBACK TRADERS jumped in

if i was day-trading it i would have bought a shit load of contracts at 1254.50 13:12

it would have been a high probability trade

these type of setups are consistent winners, they have a high win rate and they're easy 13:13

if you actually examine the pullback, it was actually our second correction overall

because as i mentioned we went to 1257.50 and then retrace to 1254.50 13:14

then brokeout from there

<+gary> then your stop would be below 62% retracement ?

<+Awash> exactly

yep

i label the 50 area with yellow color 13:15

and 62 with red, if it goes to far below 62 i get stopped

<+Nesi> some news

freddie mac on negative watch, fwiw

<+Awash> hey you wrote [11:53] <ItalianSharp> i am just curious about what other traders do" 13:17

most traders play it exactly like i mentioned 13:18

they even set their buy orders 1 point or so before the 50% area because they know every pullback trader will jump it

<startrader> looks like hope is building crude can close day/week under 123.50 13:23

<+Awash> Szu, you around? 13:29

<+szubaark> see pm

<+Awash> k

* Awash is now known as Awash_break 13:31

<codehead> long YM 11336, stop 11329 13:33

<+codehead> might reverse at stop 13:34

exit YM half +10 13:36

exit remainder +10

2c

long 1c YM 11341, same stop 13:37

raise stop to 11334 13:38

exit YM -4 13:40

<+Trader> thanks awash. I just read your explanation. So if you put your stomp @62% when do you scale in? You must let it go beyond 62% to scale in.... 13:41

<+silo> Shorts ER2 @ 709.10 -> large size «« paper »» 13:43

<@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

<+silo> Covered all ER2 Short @ 709.40 --> - 0.3 «« paper »» 13:51

Long ER2 @ 710.20 -> medium size «« paper »» 13:53

Long ER2 @ 710.50 -> Add «« paper »» 13:55

Exited 1/2 ER2 Long @ 710 --> - 0.5 «« paper »» 14:01

Exited Remainder ER2 Long @ 710 --> - 0.2 «« paper »»

<+szubaark> silo, we most likely going down, its just a bounce as the lows 14:02

<+silo> Long ER2 @ 711.20 -> medium size «« paper »» 14:04

damn

bad entry

* Awash_break is now known as Awash 14:05

<+silo> wanted to give it one more shot

but picked a wrong spot for it

Exited all ER2 Long @ 709.10 --> - 2.1 «« paper »» 14:07

man got greedy on that one :D

Long ER2 @ 711 «« paper »» 14:09

<JimL> wild swinging in this area 14:10

<+startrader> crude battling over 123.50... 14:23

<+Trader> Awash r u back from lunch? 14:41

<+Awash> yep

i'm back 14:42

just looking at the market at my desk

<+Trader> @13 41 I asked you a question . could you look @ it please?

13:41

<+Awash> [12:41] <Trader> thanks awash. I just read your explanation. So if you put your stomp @62% when do you scale in? You must let it go beyond 62% to scale in.... 14:43

<+Trader> y

<+Awash> when i first mentioned pullbacks, i was talking about a way to day-trade

that would be a day-trade signal 14:44

everything i thoroughly explained was an example of how to play a day-trade, not a swing trade

<+Trader> that i understand 14:45

<+Awash> since i thoroughly explained it, you've seen three pullbacks and two worked successfully out of the three

<+Trader> so - for daytrading - you place the stop @62% but for swing you give it more room..... 14:46

<+Awash> for simplicity, each swing trade is different, but considering the current swing trade that i'm in from the pullback on the higher time frame charts, each setup is different, i may play the next pullback completely different than the way i played the last 14:47

i don't have hard and fast rules for every type of pullback on higher time frame charts because each one is different 14:48

now if i was day trading, i would aggressively be trading pullbacks and with those types of setups i would be using hard and fast rules, no mental stops, hard stops, usually just above the 62% area 14:49

does that make sense?

<+silo> Long ER2 @ 711.30 -> Add «« paper »» 14:52

<starglazer> the fibonacci is the high/low of the day or based on your timeframe 14:54

<+Awash> okay, that's a tough question to answer because a lot of people will tell you differently 14:55

but i can tell you how i'll play it

let's look at the most recent pullback on the ES

<+starglazer> around 11:51am pst 14:56

<+Awash> you see the high at 1258.50 from 13:10 CST and the low from 12:45 CST at 1251.25?

<+starglazer> retraced around 68%

<+Awash> we are currently retesting the high now 14:57

<+starglazer> yep

thats what my fibonacci is targeting

right now its near 100% as you said 14:58

<+Awash> from that high to low, you get 50% retracement at 1255, that's were all the buyers started to buy the pullback at

yes

<+starglazer> indeed from the support line 14:59

<+silo> Exited 1/2 ER2 Long @ 711.10 --> - 0.2 «« paper »»

<+Awash> so you may want to look at the most important reaction highs, not necessarily the HOD or LOD

<+starglazer> understood 15:00

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Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<DJ> Awash, the highs and lows that show S/R?

<+Awash> no, as per calculating the pullback resumption point, use the most significant highs of the most visible swing 15:01

<+DJ> OK 15:02

<+Awash> does any of what i am saying make sense? it can be confusing if you're hearing it for the first time

<+Trader> I can see the light @ the end of the tunnel

(could be another train comming this way) 15:03

<+Awash> notice, we found immediate resistance at 1258.50 because it was the most recent swing high, all the short-term scalpers are dumping there

<+Trader> but seriously this make s sense

<+starglazer> im just using a RSI system its nice to hear fibonacci 15:04

<+DJ> it re-tested 4 times as well

<+starglazer> i like if the RSI hits 85 to buy

<+silo> Exited Remainder ER2 Long @ 709.60 --> - 1.4 «« paper »»

<+startrader> Long NQ @ 1849

<+Awash> star, look at it as pullbacks and reversals

<+starglazer> retraced to 61.8% level 15:06

<+Awash> notice on my 1 minute chart it had nothing but price and volume, you can see it clearly when you take the spaghetti and cheese off the charts 15:07

<+DJ> TY, Awash, for tutorial today

<+Awash> all i ask is that you share and help someone else in their trading. You don't have to thank me!! 15:08

<+DJ> that's fair

YOu've helped me

<+Awash> the info i'm giving you, someone esle from #futurestrades and #eminifutures gave it to me 15:09

<+DJ> Well, I apprec it

:)

I know other do as well 15:10

there is so much to learn

<+Trader> it is rare that someone would share a setup/system that actually works for them longer term.

<+DJ> Y

<+Trader> short term r a dime a 12.

<+Awash> NO

not true

<+Trader> u r the 2nd Awash in 3 years 15:11

<+Awash> on the CBOT website, they had a bunch of webinar where traders would thoroughly explain how they trade

winning traders would

<+Trader> they took most of them down cince the CME bought them

<+Awash> winning traders would easily share info

yes, you're right trader

<+starglazer> elliott wave predicted the recent uptrend to 1290

<+Awash> i was a fool not to download all of them

but i have one important one that i'm more willing to share and give to you, it thoroughly explains the pullback setup 15:12

if you want it

i can share it with you through MSN Live messenger

<+Trader> I called up the CME a while back and they said that they are working on a new educational program

<+Awash> the file is 45MB

they have done all of us a disservice by taking those webinars done 15:13

<+starglazer> you cant use badongo or yousendit to send?

<+Awash> maybe i can, but i don't know other ways to send it

<+Trader> it can be done through Skype 15:14

<+Awash> i'll have to research it

<+Trader> if you have Skype there is a file upload option

<+Awash> don't have it

i'll research you send it on Monday and i'll be willing to send it to everybody that wants it 15:15

<+DJ> I want it as well Awash

<+Awash> again it explains the pullback in detail and a reversal setup

<+DJ> awesome

<+Trader> maybe if enough people have it we can distribute it faster 15:16

<+Awash> somebody remind me on Monday, please!!!

cancelled all open limit orders 15:24

cancelling all open orders, holding short overnight until 15:25

next week

based on yesterday's action, i'm confident we can go thru the mid 1240's easily on Monday

<+anglo> if you send it to me, I'll upload it to a website for multiple downloads 15:34

or I can give you the website and you do it yourself 15:35

<+Awash> do you have msn live messenger?

i can do it now over the next three minutes before i leave my desk

<+anglo> y 15:36

<+Awash> my screen name is eazy4aaron@hotmail.com

<+anglo> www.yousendit.com free

<+Awash> i'll have to do that on MOnday then 15:37

<+anglo> I just messaged you

<+Awash> guys, i have to go 15:46

chat Monday

<+DJ> gn

<+Awash> until then

<@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 15:47

<spec> tnx for the great info Awash

<+Awash> okay, thanks all, good night 15:49

<+szubaark> Covered all Short ES at 1255.75 --> + 2.25 «« paper »» 15:50

<+anglo> he'll upload them and post a link on monday. the files are too big for expedite sharing

<+Trader> OK guys. Have a great weekend. See you monday. 15:53

<+codehead> YM closed 2 ticks above lod 16:16

whew

despite dow green close 16:17

<@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
Close: Sat Jul 26 00:00:00 2008
17:53

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