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#FuturesTrades
September 16th Tuesday 2008 Trade Log
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.
Simply, my job is to keep the peace and ensure #FuturesTrades is a useful community of traders from around the world that have gather in a virtual trading office.
In addition, I personally use the below chat log as feedback for critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading. To maintain the usefulness of the below chat log, all of my trades were posted in real-time within 5 seconds after entry or exit unless otherwise noted in the log.
To read behind the scenes details about my trades posted below such as explanation of position size, stop management, chart interval choice et cetera...click here.
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). However, some of my trades are intuition via market experience in combo with many concepts from my rule based methodology.
With that said, today's trade posting chat log is below and it contains trades posted in real-time by #FuturesTrades members including all of my own trades that were posted in real-time.
Last of all, 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. <@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 http://www.thestrategylab.com/FuturesTradesChatRoom.htm
Session Start: Tue Sep 16 08:34:02 2008Session Ident: #futurestrades * Now talking in #futurestrades 08:34 <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <rickf> gm niha <@NihabaAshi> Good morning all <+T-stop> gm <pat255> gm N <+pat255> gm all 08:35 <@X> #FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades. 08:40 <Kalle> thx rickf 08:41 <+rickf> ? <werner> gm all <+Kalle> fot the link <+rickf> hi wernre 08:42 oh k :) <+Kalle> gm werner <+werner> hi rickf,kalle <KN-SR> Long ES @ 1172.00 08:55 <+KN-SR> stop .75 08:56 Exited 3/4 ES Long @ 1173.00 --> + 1 h 9 Exited 1/4 ES Long @ 1174 --> + 2 <+T-stop> good evening <+KN-SR> h7 gm 08:57 <+T-stop> thought you were done <+KN-SR> Exited ES Long @ 171.25 --> - 1000.75 Reverse and Enter Short ES @ 171.25 <+T-stop> nice wk <+KN-SR> nop <+T-stop> hehe <+KN-SR> Shorts ES @ 1171.25 Covered 3/4 ES Short @ 1170.25 --> + 1 08:58 stop .75 h9 Covered 1/4 ES Short @ 1169.25 --> + 2 h7 Covered ES Short @ 1170.00 --> + 1.25 08:59 Reverse and Enter Long ES @ 1170.00 .75 Exited 3/4 ES Long @ 1171 --> + 1 h9 Exited 1/4 ES Long @ 1172 --> + 2 h7 <+rickf> bbl - meeting 09:00 <+KN-SR> Exited 1/4 ES Long @ 1173 --> + 3 h5 Exited ES Long @ 1172.00 --> + 2 09:01 Reverse and Enter Short ES @ 1172.00 .75 Covered ES Short @ 1172.50 --> - 0.5 Reverse and Enter Long ES @ 1172.50 Exited 3/4 ES Long @ 1173.50 --> + 1 09:02 Exited ES Long @ 1172.75 --> + 0.25 09:03 Reverse and Enter Short ES @ 1172.75 .75 Covered 3/4 ES Short @ 1171.75 --> + 1 09:04 <@NihabaAshi> Shorts ES @ 1171.25 -> small size 09:05 3 only <+KN-SR> Covered 1/4 ES Short @ 1170.75 --> + 2 h7 Covered 1/4 ES Short @ 1169.75 --> + 3 09:06 5 Covered ES Short @ 1168.75 --> + 4 09:07 Reverse and Enter Long ES @ 1168.75 Exited 3/4 ES Long @ 1169.75 --> + 1 09:08 .75 <@NihabaAshi> Covered all ES Short @ 1169.75 --> + 1.5 <palmer> kn you scalping away today <+KN-SR> Exited ES Long @ 1169.50 --> + 0.75 Reverse and Enter Short ES @ 1169.50 Covered 3/4 ES Short @ 1168.50 --> + 1 .75 09:09 Covered 1/4 ES Short @ 1167.50 --> + 2 h7 :) 09:10 old habit die hard :) <+T-stop> nice <+KN-SR> brb <+T-stop> putting on a clinic <+KN-SR> Covered 1/4 ES Short @ 1163.50 --> + 6 09:11 h5 <+werner> vn kn 09:12 <+KN-SR> thnaks Covered ES Short @ 1164.50 --> + 5 Reverse and Enter Long ES @ 1164.50 Exited 3/4 ES Long @ 1165.50 --> + 1 .75 <+T-stop> any real support down here gotta go way back 09:13 <+KN-SR> don tknow....this is completely new area to me......trying ot scalp my way out i m still working on this area, havent got time to do research Exited 1/4 ES Long @ 1166.50 --> + 2 09:14 <+T-stop> 61 extension is all I've got but who knows then 45, 22 09:15 <+KN-SR> Exited 1/4 ES Long @ 1169.50 --> + 5 09:16 5 <+T-stop> actually just bounced on a woodie pivot, 63.5 vn KN <+KN-SR> :) <+T-stop> you are on fire 09:17 <+KN-SR> i have no idea of levels today i dont have a choice <@NihabaAshi> Shorts ES @ 1169.00 -> medium size 09:19 4 only <+KN-SR> brb we should see 87 in nxt 35 min....... 09:20 brb 09:21 be back in an hr gtg 09:22 <+T-stop> tks <+KN-SR> stop is still .75 :) 09:23 <Awash> good morning all 09:25 <+T-stop> gm <ItalianSharp> morning all 09:27 <TraderG> Good Morning every1 09:28 <@NihabaAshi> Covered 3/4 ES Short @ 1166.25 --> + 2.75 09:29 Covered Remainder ES Short @ 1168.50 --> + 0.5 09:30 <+silo> Long YM @ 10746 09:32 <szubaark> Buys ES @ 1172 «« paper »» <+szubaark> exit stop moved to breakeven ES @ 1172 «« paper »» 09:33 <+KN-SR> Exited 1/4 ES Long @ 1174.50 --> + 10 h3 brb <+silo> Exited all YM Long @ 10793 --> + 47 09:34 omg :) <+T-stop> nice <+KN-SR> h3 thanks i need to finish my dinner <estrader1> :) <+KN-SR> :) <+T-stop> lol <+silo> i only caught 2/3 09:35 still might be 1/3 left up there but who knows <+T-stop> nice entry though <+silo> i've been getting a lot of good fills lately with openEcry 09:36 <+szubaark> Exited all Long ES at 1273 --> + 101 «« paper »» Exited all Long ES at 1173 --> + 1 «« paper »» <@NihabaAshi> Shorts ES @ 1172.00 -> medium size 4 only Covered all ES Short @ 1171.50 --> + 0.5 09:37 Houdini Escape 09:38 trade error <+silo> Long YM @ 1081 09:40 <@NihabaAshi> Long ES @ 1176.00 -> medium size 4 only <+silo> Exited 1/2 YM Long @ 10813 --> + 9732 09:41 <+szubaark> Buys ES @ 1179.25 «« paper »» <@NihabaAshi> Exited 3/4 ES Long @ 1181.50 --> + 5.5 09:42 <+silo> Exited Remainder YM Long @ gaweg --> + gaweg - 1081 <+KN-SR> Exited 1/4 ES Long @ 1281.50 --> + 117 <+silo> Long YM @ 10781 <+KN-SR> nop <+silo> Exited 1/2 YM Long @ 10817 --> + 36 Exited Remainder YM Long @ 10845 --> + 64 <+KN-SR> Exited 1/4 ES Long @ 1181.50 --> + 17 <+silo> that was the trade <+KN-SR> h2 09:43 <+silo> i typed it wrong earlier <+szubaark> exit stop moved to breakeven ES @ 1179.25 «« paper »» <+silo> profit target reached lol my god <@NihabaAshi> Exited Remainder ES Long @ 1183.00 --> + 7 <+szubaark> Exited all Long ES at 1182.75 --> + 3.5 «« paper »» <+KN-SR> so we are finllay close to 87 ....... :) ....... in 35 min 09:46 <+T-stop> y <+KN-SR> Exited 1/4 ES Long @ 1184.50 --> + 20 h-last <+T-stop> nice call <+palmer> nice KN now what do we do from there <+KN-SR> for me, finishing my food 09:47 <+T-stop> take the day off <+KN-SR> :) <+palmer> :) <+silo> hahah i dont even want to trade anymore today lol afraid of giving back profits :D <+T-stop> your done silo <+KN-SR> market will most likely will get bounced from 88-91 area 09:48 brb <+szubaark> Shorts ES @ 1181 «« paper »» <@NihabaAshi> Shorts ES @ 1181.00 -> small size 3 only <+silo> remember, FED days usually have the behavior of CHOP, BREAKOUT, CHOP, BREAKOUT so expect lots of chop after a big move and if you lose one trade.... dont go back in... just let it trade out of that price area... and look for the next setup 09:49 <@NihabaAshi> Covered all ES Short @ 1180.75 --> + 0.25 sidelined now...price action too fast for me. 09:50 <+szubaark> exit stop moved to breakeven ES @ 1181 «« paper »» Covered all Short ES at 1181 --> 0 «« paper »» agree niha, just blinked and ES popped 2 Points 09:51 <+silo> YM is in a 40pts range right now 09:52 <+T-stop> easy trade maybe over 09:53 <+KN-SR> Exited ES Long @ 1178.50 --> + 14 09:54 Reverse and Enter Short ES @ 1178.50 <@NihabaAshi> Shorts ES @ 1177.00 -> large size 09:55 <+KN-SR> Covered 3/4 ES Short @ 1176.00 --> + 2.5 h11 <@NihabaAshi> 6 only <+KN-SR> Covered 1/4 ES Short @ 1173.50 --> + 5 09:56 h8 <@NihabaAshi> Covered 2/3 ES Short @ 1174.25 --> + 2.75 <+KN-SR> .75 09:57 brb <@NihabaAshi> Covered Remainder ES Short @ 1175.25 --> + 1.75 <+szubaark> Buys ES @ 1176.50 «« paper »» 09:58 <+silo> go szu, go szu 10:01 :) <+szubaark> tightening trail exit stop set ES @ 1176.50 «« paper »» 10:02 <+KN-SR> hit and out <+szubaark> exit stop set ES @ 1176.75 «« paper »» <+silo> szu, move your stop higher 10:04 <+szubaark> exit stop set ES @ 1177 «« paper »» :) <+KN-SR> Shorts ES @ 1184.50 10:05 1.25 10:06 brb <+szubaark> Exited all Long ES at 1183.50 --> + 7 «« paper »» <+KN-SR> Covered 3/4 ES Short @ 1183.50 --> + 1 h9 * Tintin : hi all 10:07 <+T-stop> hey <+KN-SR> hit and out Shorts ES @ 1186 10:08 Covered 3/4 ES Short @ 1185 --> + 1 .75 Covered 1/4 ES Short @ 1184 --> + 2 10:09 h7 <+silo> Shorts YM @ 10864 Covered all YM Short @ 10837 --> + 27 10:10 still against the trend... wanted to move fast <+KN-SR> Covered 1/4 ES Short @ 1182 --> + 4 10:11 * +Tintin ----[ buys cl @ 92.36 ]---- <+KN-SR> h5 <+silo> 2x daily target reached <+KN-SR> nice silo <nqlove> short es 81 <+silo> thanks 10:12 <+szubaark> Buys ES @ 1187 «« paper »» 10:13 <+KN-SR> Shorts ES @ 1187 10:14 .75 <@NihabaAshi> Long ES @ 1187.00 -> small size <+KN-SR> hit and out <@NihabaAshi> 2 only 10:15 <+szubaark> trailing Stop exit stop set ES @ 1187.25 «« paper »» <@NihabaAshi> Exited all ES Long @ 1189.00 --> + 2 10:16 <Andy> Shorts ES @ 1189.5 «« paper »» <+nqlove> good call Nihabashi <+KN-SR> Shorts ES @ 1188 10:17 <+szubaark> Exited all Long ES at 1187.25 --> + 0.25 «« paper »» <+Andy> Covered 1/2 ES Short @ 1187.5 --> + 2 «« paper »» <+KN-SR> Covered 3/4 ES Short @ 1187 --> + 1 .75 <+Andy> Covered 1/4 ES Short @ 1187 --> + 2.5 «« paper »» <+KN-SR> nice Andy 10:18 <+Andy> thanks KN <+KN-SR> Covered 1/4 ES Short @ 1185 --> + 3 10:19 h9 <+Andy> Covered 1/4 ES Short @ 1184.5 --> + 5 «« paper »» 10:20 h1 <+KN-SR> Covered 1/4 ES Short @ 1184 --> + 4 h7 <@NihabaAshi> I'm 2x over my profit goal for the day which is very "unusual" on a FOMC Announcement day prior to the announcement. <+estrader1> :) 10:21 <@NihabaAshi> All this financial institution failures headline news lately has created some extroadianary volatility That usually results in more than usual trade opportunities. <+T-stop> wtg <+KN-SR> hit and out <@NihabaAshi> However, the price action feels "extremely" fast for even my personal trading style. 10:22 <+szubaark> Buys ES @ 1188 «« paper »» <@NihabaAshi> Thus, I'm going to take it easy for the remainder of the day and protect my profits. <+KN-SR> Shorts ES @ 1188 <+silo> same <@NihabaAshi> Simply, 1 contract only for the rest of the trading day...if I trade at all. 10:23 <+KN-SR> .75 brb <+silo> that's .75pt stop ? <+nqlove> did u make the 1500 mark already marc 10:24 <+szubaark> trailing Stop <+Andy> Covered Remainder ES Short @ 1190 --> - 0.5 «« paper »» <+silo> i'm sure he is <+szubaark> exit stop set ES @ 1188.25 «« paper »» <+silo> i'm at 1129 already :) <+T-stop> mkt wants green <+szubaark> [10:20] <NihabaAshi> I'm 2x over my profit goal for the day which is very "unusual" on a FOMC Announcement day prior to the announcement. <+silo> he is probably at 3000 or so now <+szubaark> Exited all Long ES at 1188.25 --> + 0.25 «« paper »» 10:25 <+Andy> Shorts ES @ 1189.25 «« paper »» Covered 3/4 ES Short @ 1188 --> + 1.25 «« paper »» <+silo> anyone familiar with kn's trades? 10:26 what's the .75 is that the stop or something <+pat255> y <+Andy> .75 point stop, silo <+rickf> bak <+silo> cool 10:27 <+Andy> Covered Remainder ES Short @ 1189.75 --> - 0.5 «« paper »» 10:29 <+szubaark> Buys ES @ 1191 «« paper »» * +Tintin ----[ covers cl @ 92.66 +0.30 ]---- <+silo> be careful szu 10:31 might be the turning point here <+rickf> BRK is up 2.5pct ... wonder if there's some good news on AIG? 10:33 <+szubaark> exit stop set ES @ 1188 «« paper »» 10:34 Exited all Long ES at 1188 --> - 3 «« paper »» 10:35 Buys ES @ 1191.75 «« paper »» 10:36 Exited all Long ES at 1189.25 --> - 2.5 «« paper »» 10:37 Shorts ES @ 1189.25 «« paper »» <+silo> szu.. remember... dont try after 2 losses... 10:38 i learned from my own mistakes 2 trys... if you can't get it.... stay out until price trades out of this area and look for new setup 10:39 'cuz sometiems price will trade within a big chop range for hours the biggest factor to successful trading is be able to take a loss (especially if you were up, and you're giving back a chunk of your money) 10:40 that's a harder loss to take than simply losing money if you're already in the red... and you had a losing trade... it wont affect your psychology as much but if you're up big, and you gave back half.... there's usually the tendency to try to make the money back fast... by using big size, and trying to catch EVERY breakout 10:41 * Kalle_away is now known as Kalle 10:42 <@X> #FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades. 10:43 <+rickf> short es 1186.75 10:45 <+szubaark> exit stop set ES @ 1189 «« paper »» 10:48 now starting to look more like FOMC Chop :)) 10:49 <+rickf> exit es 1294.50 +2.25 10:52 er 1184.50 <+szubaark> Covered all Short ES at 1189 --> + 0.25 «« paper »» 10:53 <+Andy> that was unbelievably fast <+szubaark> Buys ES @ 1192 «« paper »» <+Andy> announcement about AIG? <+T-stop> y <+szubaark> expect a lot of games lol <+silo> woo good thing yo had a stop 10:54 <+T-stop> aig just popped a $1 10:55 <+szubaark> Exited all Long ES at 1198.50 --> + 6.5 «« paper »» <+KN-SR> Shorts ES @ 1199.00 Covered 3/4 ES Short @ 1198 --> + 1 1.00 out Shorts ES @ 1202 10:56 + 1 large Covered 1/2 ES Short @ 1201 --> + 1 1.00 Covered 1/4 ES Short @ 1199 --> + 3 10:57 h11 <+rickf> vn kn <+KN-SR> thanks Covered 1/4 ES Short @ 1198.00 --> + 4 h8 <Kalle> h8 means? 10:58 <+palmer> kalle he has 8 contract left 10:59 <+Kalle> k, thx <+KN-SR> Covered 1/4 ES Short @ 1196.00 --> + 6 h6 stop 0.00 Shorts ES @ 1204 11:02 .75 +1 out half h11 out <+Andy> Shorts ES @ 1205.5 «« paper »» 11:03 <+KN-SR> Shorts ES @ 1205 large 97 target +1 out half <+Andy> Covered 2/3 ES Short @ 1203 --> + 2.5 «« paper »» 11:04 <+KN-SR> + 2 out 4 h7 .25 11:05 stop Covered 1/4 ES Short @ 1202 --> + 3 11:07 h5 Covered 1/4 ES Short @ 1200.00 --> + 5 11:09 h4 <+silo> [11:08] <ajax> ALERT: TS users.....just got off phone with the TradingDesk, they said they are having a problem w/ their "stop server" & are issing alerts right now......he said to NOT trade right now!!! not sure if it's true or not though <+KN-SR> Covered 1/4 ES Short @ 1198.00 --> + 7 11:10 h3 <+Dokebilee> Heya kn sent you a message <+KN-SR> Covered 1/4 ES Short @ 1195.00 --> + 10 11:11 h2 stop 1203 + 2.00 11:12 <pdays> Shorts ES @ 1198.75 11:14 <+silo> Shorts YM @ 10952 <+pdays> Covered all ES Short @ 1196.75 --> + 2 <+Dokebilee> Shorts ES @ 1197.00 «« paper »» 11:15 <+silo> Covered all YM Short @ 10952 --> 0 out at breakeven :( stop too tight 11:16 :) damn it !! :D <@NihabaAshi> Shorts ES @ 1195.00 -> small size 1 only <+silo> oh gosh... i had it at 10952 11:17 set breakeven stop too tight lol <+Dokebilee> woohoo! 11:18 <+rickf> short es 1191.50 11:20 <oaktree> add to qqqq calls 11:21 <+rickf> exit es 1189.25 +2.25 <+pat255> vn rick 11:22 <+rickf> ty pat profits hit <+Dokebilee> Covered all ES Short @ 1187.50 --> + 9.5 «« paper »» <+Andy> Long ES @ 1187.25 «« paper »» 11:23 <+KN-SR> Covered 1/4 ES Short @ 1185.00 --> + 20 h1 <@NihabaAshi> Covered ES Short @ 1183.75 --> + 11.25 <+Andy> Exited all ES Long @ 1185 --> - 2.25 «« paper »» <@NihabaAshi> geeesh didn't expect that 11:24 <+pat255> hand it u guys ...u guys are just good ... so fast for me .. <@NihabaAshi> Was only looking for a point or two <+pat255> :) * Kalle is now known as Kalle_away 11:27 <@NihabaAshi> Kind'uv weird to be making retail profits during a time when financial institutions are loosing millions or billions when you include the money of pension plans et cetera. <+pat255> N dont feel bad fro the crooks ..cooking books 11:28 where were the regulatotrs ...sleeping lol <@NihabaAshi> Still strange considering some of these companies have been around so long...they survived the "Great Depression ERA". <+silo> Long YM @ 10866 <Nesi> even the civil war, Niha 11:29 <@NihabaAshi> Yeah...that too. <+silo> Exited all YM Long @ 10852 --> - 14 i screwed up that big move.. now a little anxious to catch one 11:30 lol :( <+szubaark> Shorts ES @ 1183.25 «« paper »» <+silo> Long YM @ 10866 11:31 <+szubaark> that Short is a mistake :(( <+oaktree> buy spy 119.10 11:32 <+szubaark> Covered all Short ES at 1188.75 --> - 5.5 «« paper »» Screw up trade :((( <+Dokebilee> :( :pats szu: it'll be alright :D 11:33 <+szubaark> Impulse trade Shorts ES @ 1187.75 «« paper »» 11:34 <+silo> Exited all YM Long @ 10868 --> + 2 11:35 Long YM @ 10882 11:36 <+KN-SR> stop 1200 + 5.00 <+T-stop> tks KN 11:38 <+silo> Exited all YM Long @ 10867 --> - 15 <+szubaark> :( <+silo> losing composure a little bit <+rickf> shlort es 1186.75 <+Dokebilee> AIG plummeted, might file for bankruptsy 11:39 bankruptcy* <+T-stop> KN, you need to start a +20 streak <+Dokebilee> Shorts ES @ 1284.50 «« paper »» 11:40 oops 11:41 Covered all ES Short @ 1284.50 --> 0 «« paper »» Shorts ES @ 1184.50 «« paper »» lol <+szubaark> Covered all Short ES at 1187.75 --> 0 «« paper »» 11:42 <+rickf> out 88 -1.25 <+szubaark> Shorts ES @ 1187.50 «« paper »» 11:44 <+Dokebilee> food time :D <+T-stop> agree, dz approach, bbl 11:45 can't go to far on a day like today though 11:46 <+szubaark> Covered all Short ES at 1189.75 --> - 2.25 «« paper »» Shorts ES @ 1189.25 «« paper »» 11:49 <+rickf> long es 1191.75 11:51 <+szubaark> Covered all Short ES at 1192 --> - 2.75 «« paper »» Shorts ES @ 1191 «« paper »» 11:54 <+rickf> exit es 1194 +2.25 11:57 <+szubaark> Covered all Short ES at 1196.25 --> - 5.25 «« paper »» 11:59 :((((((((( <+rickf> :( 12:00 * +Tintin ----[ shorts es @ 1194.5 ]---- ----[ shorts ym @ 10920 ]---- <+szubaark> gave all my profits back..CRAP * +Tintin ----[ shorts rut @ 695.9 ]---- <+szubaark> Buys ES @ 1196 «« paper »» 12:01 <+oaktree> close spy 119.79 partial <@NihabaAshi> This should reach at least 1198.50 ooops...just did <+rickf> long es 1197.75 out b/e (late) 12:04 gotta restart :( <+szubaark> Exited all Long ES at 1192.75 --> - 3.25 «« paper »» 12:05 GEEZZZ in the RED Now Shorts ES @ 1192.75 «« paper »» * +Tintin ----[ covers es @ 1192.5 +2 ]---- <@NihabaAshi> Shorts ES @ 1193.25 -> small size * +Tintin ----[ covers ym @ 10890 +30 ]---- <@NihabaAshi> 1 only * +Tintin ----[ covers rut @ 693.9 +2 ]---- 12:06 <+rickf> short es 1192 <@NihabaAshi> Covered ES Short @ 1192.25 --> + 1 12:07 Shorts ES @ 1192.50 -> small size 12:08 1 only <+szubaark> FOMC days are tricky to trade 12:09 <+rickf> exit es 1193 -1 <+szubaark> I gave all my profits back in no time LOL 12:10 <@NihabaAshi> Covered ES Short @ 1192.25 --> + 0.25 12:12 Houdini Escape out of a trade error 2nd one of the trading day szubaark...you need to determine what is your average profit level for a profitable trading day. Next, whenever you hit that average profit level on any particular trading day... 12:13 Reduce your overall position size for the remainder of the trading day more than 50% That will help to ensure you finish the day at the profit if all hell breaks loose. <+pat255> good advice 12:14 <+szubaark> I only trade 1 contract.. I have Discipline problems trading 2 or more (Large Stops) Covered all Short ES at 1192.75 --> 0 «« paper »» 12:15 Buys ES @ 1193 «« paper »» <@NihabaAshi> For 1 contract traders...you can still reduce your risk exposure via calling it QUITS for the day once you've reached or have gone beyond your average profit level on a profitable trading day. 12:17 <+szubaark> exit stop set ES @ 1193.25 «« paper »» <@NihabaAshi> You can also set a "limit loss" on your profits. <@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 http://www.thestrategylab.com/FuturesTradesChatRoom.htm
<+rickf> long es 1196.75 12:18 <@NihabaAshi> Example...lets pretend on your profitable days you average $600 You can say that once you reach $600...you'll stop trading for the day if you lose $200. <+rickf> eit es 98.75 +2 <@NihabaAshi> Thus, finishing your day at $400 <+rickf> i am debating between hitting my target and then walking away for the day -- shut down, forget about it, just go away 12:19 to avoid getting greedy/careless <+silo> Shorts YM @ 10938 12:20 <+szubaark> definetly something i need to think about, controling my Risk levels <@NihabaAshi> Yeah...its really an independent decision because there's some trading days where it pays to be greedy but you really aren't going to know that unless you have a lot of market experience. Thus, most traders should just stop trading when all their goals for the day has been reached while those with much more market experience can determine if today is the day to continue trading...milking the cow sort'uv speak. 12:21 <+rickf> plus it means you have the restof the day to do other things if you hit targets early :) 12:22 <@NihabaAshi> I have enough market experience to know when I'm in the Zone while profitable or when I'm not in the Zone while profitable. The latter...I tend to call it quits for the day once my goals have been reached. 12:23 <+rickf> if i'm not in the zone i prolly won't trade -- ie, if i have a bad night, or don't feel 100% when i am prepping for the day <+silo> Covered YM Short @ 10949 --> - 11 12:24 Reverse and Enter Long YM @ 10949 <+rickf> long es 1197.75 12:25 99.75 <+silo> Exited all YM Long @ 10937 --> - 12 <+rickf> out 98.75 -1 <+szubaark> Exited all Long ES at 1197.25 --> + 4.25 «« paper »» 12:26 <KN-SR> Long ES @ 1196 <+szubaark> Shorts ES @ 1195.25 «« paper »» <+rickf> tht was a hard slam down from 1200. <+KN-SR> large <+silo> Long YM @ 10955 <+KN-SR> Exited 3/4 ES Long @ 1199.00 --> + 3 12:27 h11 .25 stop * +Tintin : lunchtime ... <+szubaark> Covered all Short ES at 1200 --> - 4.75 «« paper »» Buys ES @ 1200 «« paper »» <+silo> Exited all YM Long @ 10940 --> - 15 12:29 <+KN-SR> add large 1196 12:31 Exited 3/4 ES Long @ 1197.00 --> + 1 11+11 .25 hit and out <+szubaark> Exited all Long ES at 1194.75 --> - 5.25 «« paper »» 12:32 :(( Shorts ES @ 1194.75 «« paper »» HUGE killer whipsaws <+KN-SR> Long ES @ 1194.50 large .25 stop Exited 3/4 ES Long @ 1195.50 --> + 1 h 11 12:33 Exited 1/4 ES Long @ 1197.50 --> + 3 12:34 h8 <+rickf> guess they figure if it staysunder 1200 the fed *has* to cut rates? :) 12:35 <@NihabaAshi> Be back later around 1:55pm est 12:40 * NihabaAshi is now known as NihabaAshi_away <+KN-SR> 1195 add 12:41 stop 94.25 12:42 for all hit and out 12:43 <+rickf> short es 1194.25 lg <+KN-SR> Shorts ES @ 1194.25 Covered 3/4 ES Short @ 1193.25 --> + 1 12:44 <+rickf> exit es 92.75 <+KN-SR> stop .25 hit and out lng Long ES @ 1194.25 Exited 3/4 ES Long @ 1195.25 --> + 1 .25 hit and out 12:45 Long ES @ 1193.75 .25 <@X> #FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades. 12:46 <+KN-SR> Exited 3/4 ES Long @ 1194.75 --> + 1 hit and out 12:47 thats about it well. its late here.....very late.....take care all.....and good trading....was a great day for trading <+rickf> short es 1193.50 out 96 - 2.5 12:54 <+szubaark> Covered all Short ES at 1196.50 --> - 1.75 «« paper »» Buys ES @ 1196.50 «« paper »» Exited all Long ES at 1196.75 --> + 0.25 «« paper »» 13:03 Shorts ES @ 1195.75 «« paper »» <+rickf> geez 1200 is a hard resistance 13:05 <+szubaark> Covered all Short ES at 1198.75 --> - 3 «« paper »» 13:07 GEEZZZ Buys ES @ 1198.75 «« paper »» <+rickf> i wouldnt long until it breaks and holds above 1200 13:08 trend is up, but 1200 is tough nut to crack long es 1200.50 13:11 exit 99.50 -1 worth a shot :( 13:12 <+Dokebilee> rick, how did you long es at 1200.50? don't think it went that high 13:18 <+szubaark> Exited all Long ES at 1199 --> + 0.25 «« paper »» Shorts ES @ 1198.50 «« paper »» * +rickf went to 1201.25 i think 13:19 <+rickf> trading Z contract <+Dokebilee> z contract? <+rickf> dec it's like they're daring folks to go long over 1200, only to bring it back down 13:23 <breakout> into close lot lots 1200-1203.5 holding it down for now 13:25 <+breakout> need over 1203.5 for up 13:26 <+rickf> agree <+breakout> remember fed 215 13:27 <+rickf> that only makes today even goofier :) <+breakout> 94 is sup 13:28 88 had 4000 lot <+rickf> short es 1196 13:38 <+Andy> Long ES @ 1195.75 «« paper »» 13:39 Exited 3/4 ES Long @ 1196.75 --> + 1 «« paper »» 13:40 Exited Remainder ES Long @ 1195 --> - 0.75 «« paper »» 13:44 <+rickf> exit es 93.75 +2,25 13:46 <+pat255> vn rick ... <+rickf> thx pat 13:47 * +Tintin : back 13:57 <+szubaark> Covered all Short ES at 1194.75 --> + 3.75 «« paper »» 13:58 <+rickf> wow....GE's implived vol is 83 13:59 <+szubaark> Buys ES @ 1196 «« paper »» 14:10 <+rickf> FOMC in ~ 4 mins 14:11 geesh 14:14 <+T-stop> nc <+szubaark> Exited all Long ES at 1180.50 --> - 15.5 «« paper »» Shorts ES @ 1180.50 «« paper »» * +rickf charts locked - still flat here 14:15 <+T-stop> careful easy to get stuck <+szubaark> Covered all Short ES at 1186.75 --> - 6.25 «« paper »» 14:16 Buys ES @ 1186.75 «« paper »» <+T-stop> typically 2nd move right but who knows 14:17 <+szubaark> Gooo!!! <+rickf> short es 1186.25 exit es 1184.75 +2.25 14:18 <+szubaark> Exited all Long ES at 1183 --> - 3.75 «« paper »» Shorts ES @ 1183 «« paper »» <+rickf> FOMC statement - 14:20 http://federalreserve.gov/newsevents/pre ss/monetary/20080916a.htm <+T-stop> tks rick <+rickf> :) <MK> Shorts ER2 @ 687.6 «« paper »» 14:23 <+MK> Shorts ER2 @ 689 -> Add «« paper »» 14:25 <+rickf> vix @ 32.80 ... wow, thought the market would have exploded by now 14:27 <+T-stop> more aig news <+MK> Shorts ER2 @ 690.7 -> Add «« paper »» 14:28 <+T-stop> agree rick we probably close to some kinda bot, imo, if history is any guide 14:30 <+szubaark> Covered all Short ES at 1185 --> - 2 «« paper »» Buys ES @ 1185 «« paper »» <+rickf> long es 1185.25 exit 88.25 +3 <+MK> Shorts ER2 @ 691.3 -> Add «« paper »» 14:31 <+rickf> sheesh hit my limit before i even posted the entry :) * NihabaAshi_away is now known as NihabaAshi <+MK> Shorts ER2 @ 692.6 -> Add «« paper »» 14:32 <+T-stop> nice <+rickf> that makes a second 50% retrace of the FOMC drop <+T-stop> scalping here to hard to post ( 14:33 <+rickf> lol <+szubaark> Exited all Long ES at 1185 --> 0 «« paper »» <+T-stop> hehe <+rickf> "trade first, post second" <+szubaark> Shorts ES @ 1185 «« paper »» <+T-stop> what a crazy day, not sure that helps anyone 14:34 <+szubaark> crazy enough to make sure nobody goes home with a Profit LOL <+T-stop> haha 14:35 <+MK> should come back down to 682-684 range <+szubaark> i hope this Tanks, i need to go back to Positive for day <+T-stop> lotta cross currents 14:37 <+MK> carnage isn't over 14:38 <+T-stop> wow <+szubaark> Covered all Short ES at 1195 --> - 10 «« paper »» <+rickf> ummm <+szubaark> Buys ES @ 1195 «« paper »» <+T-stop> these moves are nutz <@NihabaAshi> crazy volatility right now <Awash> crazy <+szubaark> spikes out of nowhere 14:39 <+breakout> breakout> they may have covnow trap sh let see <+MK> some secret news? aig bailout? <@NihabaAshi> Long ES @ 1200.00 -> small size <+szubaark> Goo!!! <@NihabaAshi> 1 only <+szubaark> Spike from HELL <+T-stop> ha <@NihabaAshi> throw an order out there and wait to see it gets jot 14:40 <+rickf> jeebus, gone parabolic <@NihabaAshi> Exited ES Long @ 1201.00 --> + 1 <+T-stop> better have a hard stop if ya in this <+szubaark> this will be my LAST FOMC trading day.. Im done trading this crap 14:41 <+T-stop> aig another $1 pop moving the mkt, imo <+breakout> <lolly4> bloom berg. aig may get a loan from the fed <Tintin> just buy <breakout> i can have a loan to mommy <@NihabaAshi> Shorts ES @ 1200.50 -> small size 14:42 1 only <+breakout> over 1203.5 can run hard <+rickf> bloom site must be swamped,, can't get to ti * +Tintin ----[ buys es @ 1196.25 loaded ]---- 14:43 <@NihabaAshi> Covered ES Short @ 1197.50 --> + 3 <+szubaark> Exited all Long ES at 1195 --> 0 «« paper »» 14:45 * +Tintin ----[ covers es @ 1199.25 +3 all out ]---- <+szubaark> Buys ES @ 1198.50 «« paper »» <@NihabaAshi> Long ES @ 1198.25 -> small size 1 only <+rickf> long es 1299,59 14:46 '1200.50 exit 1202.50 +2 <@NihabaAshi> tighten trail profit 14:47 * +Tintin ----[ buys es @ 1205.25 ]---- <+breakout> broke thru 14:48 <+rickf> darn wish i could do strategy trades .... ie dump X at this point, let Y remaining run * +Tintin ----[ covers es @ 1208.25 +3 ]---- ----[ buys es @ 1207.25 ]---- 14:50 <@X> #FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades. 14:52 <@NihabaAshi> tighten trail more * +Tintin ----[ buys es @ 1204.75 avg in ]---- 14:53 <@NihabaAshi> I don't see resistance until around the 1210.00 price area for ES 14:55 * +Tintin ----[ covers es @ 1206.75 +2 all out ]---- <+rickf> long es 1207.75 14:56 * +Tintin ----[ buys es @ 1028.75 ]---- <+rickf> exit es 1209.25 + 1.50 <@NihabaAshi> Exited ES Long @ 1210.25 --> + 12 14:57 <+rickf> vn niha * +Tintin ----[ covers es @ 1209.75 +2 ]---- : oops +1 <+rickf> final hour fun begins.... 15:00 <+szubaark> Exited all Long ES at 1206.75 --> + 8.25 «« paper »» 15:02 <+rickf> :) <+T-stop> aig 1 billon shares, wow 15:03 <+Awash> one billion with a "B" per Bob on CNBC 15:04 he's too funny <+rickf> ohh...that's what was borking up my watchlist columns! you're right <+T-stop> ya <+szubaark> Buys ES @ 1206 «« paper »» 15:05 <+rickf> waiting for the es to drop <+breakout> squeeze is on <+rickf> lol - should be wild around 1545 15:06 <+szubaark> exit stop moved to breakeven ES @ 1206 «« paper »» 15:07 <ArcTrader> yep, was looking for 11075 on YM, but too wild to stay in for it <+breakout> 093 or higher pos 15:09 144 178 highest prob <+szubaark> Short Squeezzeee 15:10 <+rickf> i dunno - i'm not optimistic ... but of course i could be wrong 15:11 <+breakout> <breakout> rates up money leaving bonds * +Tintin ----[ buys es @ 1208.25 ]---- 15:13 <PeterPanBoy> good afternoon all <+PeterPanBoy> busy with platform today 15:14 * +Tintin ----[ covers es @ 1211.25 +3 ]---- ----[ shorts es @ 1212.25 ]---- 15:16 <+PeterPanBoy> Es heading max for today section <+ArcTrader> YM TGT reached 15:17 <+szubaark> exit stop set ES @ 1210 «« paper »» * +Tintin ----[ shorts es @ 1214.75 ]---- <+T-stop> crude quietly up 3 from bot on Iran/Nigeria news * +Tintin ----[ covers es @ 1213.25 +1.50 all out ]---- 15:21 <+MK> Shorts ER2 @ 707.3 -> Add «« paper »» 15:25 <+szubaark> Exited all Long ES at 1211.75 --> + 5.75 «« paper »» Buys ES @ 1210 «« paper »» 15:27 <+ArcTrader> YM TGT reached to downside--wow fast 15:29 <+MK> Shorts ER2 @ 704.9 -> Add «« paper »» 15:32 * +Tintin ----[ buys rut @ 703.0 ]---- 15:35 ----[ covers rut @ 704.0 +1 ]---- 15:37 <+szubaark> Exited all Long ES at 1210 --> 0 «« paper »» 15:41 Shorts ES @ 1210 «« paper »» Covered all Short ES at 1210 --> 0 «« paper »» 15:44 <@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 http://www.thestrategylab.com/FuturesTradesChatRoom.htm
<+rickf> short es 1208.75 15:46 exit 1209.75 -1 15:48 <+estrader1> Llong es 12.25 15:49 1/2 out 13.25 +1 all out 14.25 +2 15:50 hard to post and trade today,fast 15:51 <+rickf> lol 15:52 <+estrader1> long 13 es 15:56 11.5 stop 15:57 out 1/2 14.5 +1.5 15:59 <+Dokebilee> good trading all, peace 16:00 <+rickf> yep you too <+PeterPanBoy> ES close on today max Hi rickf <+rickf> heya ppb <+estrader1> out rest b/e got greedy 16:01 <+PeterPanBoy> I was busy today tommorow start from market open 16:02 see ya tommorow <+estrader1> had order in for 16.5 did not get filled <+rickf> no worries <+PeterPanBoy> Ok bye <+estrader1> yeah <+rickf> :) <+PeterPanBoy> :) <+rickf> k guys good trading ... seeya tomorrow 16:03 hopefully a quiet night overseas :) <+estrader1> enjoy <+werner> gn all 16:13 * +Tintin : bye all 16:27 <@X> #FuturesTrades Info -> Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.ph p?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades. 16:58 <breakout> <breakout> aig now 19:27 <+breakout> <breakout> fed giving 85 bil to aig <breakout> i think settled <breakout> these friggin idiots <breakout> fed will have 80% stake in aig <breakout> bloomberg <codehead> ah 19:30 <+codehead> roller coaster today 19:31 <+breakout> fed need new toner in that printer <+codehead> sheesh 19:41 Trading Edge: 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)
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