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#FuturesTrades September 29th Monday 2006 Trade Log

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

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

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

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

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

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

Trading Blog Below is not your traditional trader's blog in the usual blog format. However, you will find informative commentary on a few occasions as time permits and such will contain trading tips that should help your trading as I attempt to sum up my thoughts as I traversed from the first trade to the last trade that was posted in #FuturesTrades realtime trade posting chat room. 









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-72.00 +0.0000
($7,200.00) $0.00

Blow Up Trading Days  

Profit/Loss Blotter

Today's actual loss is larger than what's shown in my above PnL blotter because I traded my other account due to data problems and I just didn't feel like posting the statements for both accounts after such a blow up trading day (tough pill to swallow).

Anyways...today I almost lost my entire month of profits in one trading day and will be making some changes to prevent such a blow up from occurring again.

In fact, I took large hits in 3 trading accounts today...hits in a client trading account and hits in two of my own trading accounts.

Some of the trades are posted below but some aren't...at one point in time...I didn't care if the trades got posted or not.

Today's results was not due to one trading day...it was via the accumulation of many variables over a few weeks as they occurred in order and all were discussed in prior #FuturesTrades logs prior to today's blow up:

Re-configuration of my entire computer workstation (monitors, desk layout, wireless network and operating systems) in which I still have not felt comfortable in using...it doesn't feel like its my system and probably won't for a few weeks.

Data vendor stalls and delays...its been many months since I've had data problems like this.

Tragic death (murder) in the family of a close relative.

Two of my brokers decided to change CME servers during the trading day instead of in the overnight trading session resulting in problems switching servers and being stuck on a server that was slow with fills.

All the above aren't excuses for a poor trading day...just realities that each and every trading day isn't going to be smooth and when things go wrong...they can go wrong big time.

The question most traders need to ask themselves after a day like today is if they can bounce back from this financially and psychologically.

Looking at my past trading performance after a big blow up...I've always bounced back with big profitable trading days.

However, psychologically...this will be more difficult because of the death in the family.

The good news is that October is the start of market seasonal patterns that I normally exploit for big profits.

Simply, I have a very good chance of making back what I easily lost.

Today's results (real money and simulator trading) shown above are that of NihabaAshi only. To see his total accumulated points for the month of September...click here. To see results for the months of 2006 and prior years...click here.

Commentary by M.A. Perry (a.k.a. NihabaAshi)  

Note: Each month there are a few trading days that we consider to involve interconnecting key price action of different markets and such is represented by a particular type of price action from one of the key markets. You can view the charts and their clues that's associated with the key price action at our key market archives.


Session Start: Fri Sep 29 09:20:53 2006Session Ident: #futurestrades
* Now talking in #futurestrades09:20
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<asuni> gm niha, gm all09:25
<NihabaAshi> Good morning all.09:26
<DaveK> gm
<pat255> gm folks
any bias niha emini this am ?
may be the last bull rush...so the mutual funds close the eoq on high note?09:27
<Chilly> hey folks09:28
<eminitrader> morn all..09:31
<PapaJon> gm all
<asuni> gm emini
<szubaark> gm
<eminitrader> leaning towards being long ...but will wait for the 10 am reports pat
morn asuni
<jperl> Markets opened mixed...09:32
<pat255> ty emini
<eminitrader> urw
<jperl> http://charts.dacharts.com/2006-09-29/JP ERL_0113.png09:33
<szubaark>  Buys NQ @ 1678 09:40
<NihabaAshi>  Shorts ER2 @ 738.90 -> small size 09:44
<eminitrader>  Long ES @ 1347.75 09:45
<jperl> Markets remain mixed
<yo> entry on wrb 3 min niha?09:47
<szubaark>  Exited all Long NQ at 1674 --> - 4
Shorts NQ @ 1674
<NihabaAshi>  Covered 1/2 ER2 Short @ 738.60 --> + 0.3 09:49

Covered Remainder ER2 Short @ 738.70 --> + 0.2

ER2 volatility declining...looking for a volatility spike if it continues to decline over the next 2mins.09:53
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<eminitrader>  Exited all ES Long @ 1346.75 --> - 1
<NihabaAshi>  Shorts ER2 @ 736.80 -> small size

Covered all ER2 Short @ 738.80 --> - 2 09:58
<szubaark> that was a big up candle09:59
<NihabaAshi>  Shorts ER2 @ 737.00 -> large size
<PapaJon> sheesh...10:00
er2 on crack bipolar today
can't make up its mind.. to much caffeine
<NihabaAshi>  Covered ER2 Short @ 739.30 --> - 2.3

Reverse and Enter Long ER2 @ 739.30
<szubaark> yeah wild swings BOTH WAYS10:01
<NihabaAshi> I think I'm on a bad server...getting horrible fills.
<DaveK> Chicago PMI report volatility
<eminitrader>  Shorts ES @ 1348.75 10:02
<szubaark>  Covered all Short NQ at 1678.75 --> - 4.75
Buys NQ @ 1678.50
<ItalianSharp> niha, market is extremely volatile now...bad fills are part of the action when we have back to back reports...:(
<eminitrader>  Covered 1/2 ES Short @ 1347.75 --> + 1
<szubaark> i just want it to move.. not jump around10:03
<eminitrader>  Covered ES Short @ 1348.75 --> 0
Reverse and Enter Long ES @ 1348.75
<NihabaAshi> Well...if my broker server shows one thing and I get filled at an entire point away...that's a bad fill in my book :(
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)
<szubaark> lets see if they finish strong to make the Saturday Morning Headlines10:04

Dow New High everybody BUY BUY!!10:05
<jperl> Markets still remain mixed
<NihabaAshi>  Exited all ER2 Long @ 739.60 --> + 0.3 10:06
<pat255> mkt maniac...
impossible to trade er
<les>  Shorts ER2 @ 739.8
<eminitrader>  Long ES @ 1348.75 -> Add 10:08
<les>  Covered 1/3 ER2 Short @ 739.8 --> 0 10:09

Covered 1/3 ER2 Short @ 739.3 --> + 0.5
<PapaJon> anyone else having probs with er2 data... mine doesnt update properly.. but all the other eminis update fine...
<jperl> no problem with IB
<asuni> no here tradestation
<les>  Covered 1/3 ER2 Short @ 738.4 --> + 1.4 10:10
<pdays> no prob here
<jperl> nice trade les
<les> thx
<eminitrader>  Long ES @ 1347.75 -> Add 10:11
<NihabaAshi>  Shorts ER2 @ 738.20 -> large size
<PapaJon> weird

ib is fine here too
<jperl> TotalMarket still very mixed...10:13
http://charts.dacharts.com/2006-09-29/JP ERL_0115.png
<bykasif>  Shorts ER2 @ 738.5 «« paper »» 10:14
<les>  Covered Remainder ER2 Short @ 739.2 --> + 0.6 10:15
<eminitrader>  Exited 1/2 ES Long @ 1348.75 --> + 1 10:16

thats b/e
<NihabaAshi>  Shorts ER2 @ 739.20 -> Add
<szubaark> NQ,YM want up..10:19
<PapaJon> Niha... am curious.. does today, being the end of the quarter, explain the crummy action on er2 the last few days?
<NihabaAshi> Yes
<PapaJon> or do you think it has more to do with the mkt in general fighting the new high10:20
perhaps all the above i suppose
<szubaark>  Exited all Long NQ at 1678.50 --> 0 10:22
<eminitrader>  Exited Remainder ES Long @ 1347.75 --> - 1
<szubaark>  Shorts NQ @ 1678.75
<les>  Shorts ER2 @ 738.3 -> medium size 10:24
Covered 1/3 ER2 Short @ 737.8 --> + 0.5
exit stop moved to breakeven ER2 @ 738.3 10:25
Trailing Stop Hit ER2 @ 738.3 --> 0
<eminitrader>  Long ES @ 1347.25 10:26
<NihabaAshi> :910:28
Covered 1/2 ER2 Short @ 738.60 --> + 0.6
Got shook out of 1/2 to early due to some data problems10:29
Volatility declining now :(10:30
<ItalianSharp> i am having problems with my connection as well:(
<eminitrader> no pb here with ES and NQ
<asuni> no here too
<eminitrader>  exit stop raised ES @ 1346.75 10:31
<les> have had some intermittent glitches with esig

and one ib disconnection10:32
<eminitrader>  Exited 1/3 ES Long @ 1348.25 --> + 1
<les> its that cheap software they use

<szubaark> teeth grinding Price Action10:33
<les> its beginning to feel like yetserday's nonsense
<szubaark> i got suckered into looking for a breakout they just Chop.. same old crap10:34
<PapaJon> szu.. kinda like a root canal
<eminitrader> lol
guess all D's r the same :)10:35
<pat255> yeah this chop will cut u up...staying away
<ItalianSharp> very DANGEROUS day...fellas be careful and save your money for better days...it's easy to get suckered into this non-sense market10:36
<eminitrader> last one for me ..for the day week and month
<NihabaAshi> szu...usually the chop for the end of the quarter week doesn't occur on the last trading day of the month...it occurs a few day earlier.
Reason why I'm a little surprise ot today's chop so far unless there's one more full trading day in this month.
<eminitrader> more like the hype on cnbc abt the new highs on the dow10:37

exit stop moved to breakeven ES @ 1347.25
<NihabaAshi> Today is the last trading day of the month.
Had to double check to make sure.10:38
<pat255> yes niha
<NihabaAshi> ER2 volatility has almost died now...
<eminitrader>  Exited Remainder ES Long @ 1347.25 --> 0
<NihabaAshi> Expecting a volatility spike.
Hopefully my way.
<szubaark> IB quotes really shaky here10:39
<ItalianSharp> nice niha:)
<NihabaAshi> I'm stuck in the trade again...geeesh.10:40
<substanz>  Shorts YM @ 11783 «« paper »»
<ItalianSharp> you had a little volatility spike though10:41
<eminitrader> i'll tak u up on this IS..[10:36] <ItalianSharp> very DANGEROUS day...fellas be careful and save your money for better days...it's easy to get suckered into this non-sense market
<NihabaAshi>  Covered all ER2 Short @ 737.90 --> + 0.3
<eminitrader> szu ..get NQ of freeze mode.....time to use the remote ..10:44

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<NihabaAshi> Finally...I'm now on a good server...geesh.10:46
<szubaark> my quotes are just about DEAD.. what a shitty day so far10:47
<silo1> hey szu

what happened10:48
<szubaark> dont know i have no control over it.. its either IB or the Exchange
<silo1> can't get your order filled at the price you wanted?10:50

or what
<szubaark> Quotes going in and out on my Chart software10:51
then IB quotes Pause and stuff
<ItalianSharp> szu, its really curious because i have been having major connection problems with esignal today...strange coincidence10:53

perhaps this dead price action put the datafeed servers to sleep10:54
<NihabaAshi> Gotta do a test trade...something still doesn't look right.10:56
<szubaark>  Covered all Short NQ at 1680 --> - 1.25 10:57

Buys NQ @ 1680
<NihabaAshi>  Long ER2 @ 738.60 -> small size 10:59
1 contract only to see if I'm still having server fill problems.11:00
Exited ER2 Long @ 739.10 --> + 0.5 11:01
Good fill where it was suppose to be at.
Be right back...going to do a reboot to make sure.
* DisconnectedSession Close: Fri Sep 29 11:02:52 200611:02
 Session Start: Fri Sep 29 11:11:10 2006Session Ident: #futurestrades
* Now talking in #futurestrades11:11
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm
#FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)11:12
<NihabaAshi> Heads up...eSignal is having some major data problems from one exchange to the next (it comes and goes)...11:16

I guess it also affecting QCharts servers and FutureSource (eSignal just put those data vendors on their servers) because I had some major connection problems this morning with QCharts and FutureSource :(11:17
<les> yep, niha it shows up here bigstyle
<asuni>  one question niha..........
<NihabaAshi> Les...you with esignal ?
<asuni> why u don't udse tradestation?
<NihabaAshi> I have in the past...not what I need.11:18
<asuni> i used esignal ́but ihad to change as i had a lot of problems

with ts all is perfect. today absolutely no problem
<NihabaAshi> As soon as my contract expires with my current data vendors (QCharts and FutureSource)...
<asuni> and with 10 lots/month is free
<NihabaAshi> I'll be switching to CQG or Bloomberg.
<PapaJon> asuni.. i used to use ts.. but it gave me lots of problems... where as esignal does not
<asuni> lol
<PapaJon> it depends on what way u use the programs
<asuni> y, probably11:19
<PapaJon> definitely
<asuni> and i have a prarticular kind of connection
with satellite
<PapaJon> i actually really like some of ts features..
<NihabaAshi> I just don't like the server problems I've been getting almost the same day eSignal put QCharts and FutureSource farms with there own farms or did something weird with it.
<PapaJon> but it doesnt work correctly for me with spread symbols
<asuni> but i'm talking about only quality in receiving data
y true papa
more difficult woth dpread trading11:20
<NihabaAshi> Couldn't believe it when eSignal purchased both my data vendors.
<asuni> but as data feed ts is superior
<NihabaAshi> That took away me having a true backup because my backup was with the same company :(
<pat255> asuni thi satellite connection good?
<asuni> y

but very expensive
<pat255> hmmw where are u? in US11:21
<PapaJon> hmm.. maybe ts has fixed things.. but the last time i tried them out.. for the third time.. they still had data lag and burbs

<asuni> italy
<ItalianSharp> esignal has literally quit feeding data of YM11:25

its stuck at 9.40am
<NihabaAshi>  Shorts ER2 @ 736.90 -> large size
<szubaark>  Exited all Long NQ at 1676 --> - 4 11:26

im done.. market got me good today11:27
<jperl> Todays market has a NORMAL volume distribution function...
difficult to trade it since TA indicators will act backwards11:28
You should be long when there appears to be a trend down and vice versa11:29
<substanz>  Covered all YM Short @ 11781 --> + 2 «« paper »»
<bykasif>  Covered all ER2 Short @ 737.5 --> + 1 «« paper »» 11:31
<szubaark> u forget that days like today will have to even out the score
<NihabaAshi>  Shorts ER2 @ 737.50 -> Add 11:33
Covered ER2 Short @ 738.70 --> - 1.8 11:37
Reverse and Enter Long ER2 @ 738.70
Will try to hold this one without getting shaken out...could turn out to be my best trade of the day.11:38
* les is now known as lesAway11:39
<NihabaAshi> Volatility drying up.11:43
Volatility almost dead...very little price action...11:48
Other I'm having data problems again and got some stalls.11:49
Anybody see much volume in the Eminis over the past 2 mins ???
<asuni> no niha11:50
<NihabaAshi> dead for you too.
<Chilly> nope
<NihabaAshi> Ok...thanks.
<ItalianSharp> totally dead volatility...is anybody home???11:51
<yo> dead here also
<NihabaAshi> I'm starting to see too many 2 tick spreads on low volatility...11:53

Expectiing a volatility spike here soon.
<substanz>  Shorts YM @ 11795 «« paper »» 11:55
<jperl> ER2 sitting on VWAP,, 738.5411:58
<pat255> vwap is avaiable on IB?
<NihabaAshi> ER2 has a cork pressure now...hopefully the bottle is turned upwards.
<pat255> rofl....nice niha
<jperl> not to my knowledge pat
<pat255> kty
in that case good to have u on board ...ty11:59
<jperl> Here is the volume histogram of ER2 with VWAP superimposed...12:00

http://charts.dacharts.com/2006-09-29/JP ERL_0117.png

Distribution function looks very NORMAL

VWAP within 1 tick of the POC (red line)12:01
<pat255> kty ...so can gauge from POC?
<jperl> when VWAP=POC we have a NORMAL distribution
<pat255> i c..12:02
<jperl> Every trend that develops immediately reverses
<NihabaAshi> Agree
<jperl> back to the POC

Trading this type of distribution requires some change of thinking12:03
<NihabaAshi> How many trades or losses does it take to adapt...that's the tough part.12:04
<jperl> Well I haven't figured out how to trade a NORMAL distribution...12:05

so presently I just stand aside
<NihabaAshi> Still no volatility spike...it came close on the downside.12:07
Will be tough to do with the early lunch crowd heading out the door.12:08
<substanz>  Covered all YM Short @ 11785 --> + 10 «« paper »» 12:09
<PapaJon> yah niha.. and on a friday at the end of quarter12:11
<NihabaAshi> Papa...the several times on the last trading day of a quarter when I called it quits early and exited my position...12:13

A big move occurred.

Reason why I'm trying hard to hold on to this position.12:14
<ItalianSharp> you need steel nerves to hold on to positions today niha
<NihabaAshi> I didn't have it earlier and it was costly...nerves weren't there due to the fact I was more concern with other stuff (data servers).12:15
<substanz>  Long YM @ 11785 «« paper »» 12:18
<NihabaAshi> By the way...my target for this trade was 740.00...if we can get there

I'm going to re-adjust that due to the dip back down.12:19
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)12:24
<NihabaAshi> Be right back...just lost all my data...doing an emergency reboot.12:32
<pat255> :(
* NihabaAshi is now known as NihabaAshi_away
* DisconnectedSession Close: Fri Sep 29 12:34:26 200612:34
 Session Start: Fri Sep 29 12:44:50 2006Session Ident: #futurestrades
* Now talking in #futurestrades12:44
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<NihabaAshi> It's been awhile since I've seen over 25 users in #FuturesTrades :)12:45
<pat255> vn12:46
<codehead> whew, indices in a coma12:50
<NihabaAshi> Very weird.12:51

Almost as if those left trading are willing to take any positions...waiting on the next guy to do something :(
<codehead> ya
<NihabaAshi> Meant..."are not willing".
<codehead> dow within spitting distance of new all-time high close, neither side wants it to get away form them12:52
<NihabaAshi> What's the all time high for the Dow ?
<codehead> close is 1172212:53
intra is 50
see where they stopp it at 11720 last night right before close?
then in last minute dumped
<asuni> need to go, cu on moday13:04

have a nice weekend
<NihabaAshi> U2
<jperl> TotalMarket now showing pronounced bias to the upside....13:17

but ER2 not following yet

Here's the TotalMarket historgram...13:20

http://charts.dacharts.com/2006-09-29/JP ERL_0118.png

Well above its' 1st StdDev

with Average Price (light blue line) above the POC (red line)13:21
<NihabaAshi> That was a volatility spike downwards.13:27
So far today...they have always bounced back to "retrace" the WRB that formed the volatility spike.13:28
<pat255> jper u have IB feed?
<jperl> yes
<pat255> k...will ask u a question later tho ...gotta run to the office in a little bit13:29
<NihabaAshi> jperl...any data burst in your IB feed in the past 5mins ?13:32
As if its trying to catch up with the actual quotes ?13:33
<jperl> no not here
<NihabaAshi> Thanks :(
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)13:36
<pat255> niha there is some lag here &ther ...just noticed that here13:37
<NihabaAshi> Anybody have a data burst after a lag in the past 2 mins ?13:39

I just watch ER2 stop dead in the water at 727.10 for about 1.5 mins...13:40

Meant 737.10
<pat255> hmm not that long my quotes stopped for say 20-25 secs then caught up..
now k
<NihabaAshi> Then a data burst in about 1 sec put it at 737.90

That'a a 8 tick movement in about 1 second :(

I was in pm with two others using X_Trader...we are all having the same problems.13:42
<jperl> I'm watching T&S on IB...don't see that problem here
<NihabaAshi> Thus, if IB is not having problems...I'm going to assume its my system and X_Trader.
<Chilly> my IB has been fine, fwiw
<NihabaAshi> I'm going to switch over to another computer and use a different broker.13:43
* NihabaAshi is now known as NihabaAshi_away
<pat255> k guys back to office ..ty all13:46
<NihabaAshi_away> Wow...ER2 volatility now dead...haven't seen it like this in several trading days...not this low.13:49
* NihabaAshi_away is now known as NihabaAshi
<NihabaAshi>  Long ER2 @ 737.70 -> Add 13:51
That's an add but via a different account.
Have to manage two platforms now.
* lesAway is now known as les13:59
<NihabaAshi> Another data burst after a stall :(14:02
<les>  Shorts ER2 @ 737 «« paper »» 14:06
<NihabaAshi> I got 737.60 in both my platform...can anybody tell me what they have for ER2.14:10
<jperl> 738.20
<NihabaAshi> Another data burst...
<les>  Covered ER2 Short @ 738.2 --> - 1.2 «« paper »»

Reverse and Enter Long ER2 @ 738.2 «« paper »»
<jperl> now 738.1014:11
now 738
went to 737.90, back to 738.1014:12
now 738
<NihabaAshi> Thanks...confirms my data definetly not keeping up with the market :(
<jperl> yw14:13



Mentally getting away from trading is much harder to do in comparison to physically getting away from trading when its time for some rest and relaxation. Personally, one of my favorite ways to mentally rest is to watch movies I've copy & recorded from the local video store via my Slysoft software that copies any copyright protected dvd's and cd's.
   Slysoft - Copy and DVD or CD
<NihabaAshi> I also have some different candlestick lines in comparison to a few others I had talked to in another room.

That tells me I'm not receiving all of the data packets.


Not looking good...price action just did something I do not like.14:21
<DaveK> rough day
<NihabaAshi> My VIX just gap to the upside from one interval to the next...14:22

Not sure if anybody has the same thing via the 5min chart.
<Chilly> I confirm that, Niha14:23
<DaveK> what is vix symbol in esignal?14:24
<les> same here niha
<Chilly> $vix
<DaveK> i show 11.8714:25
<NihabaAshi> Well...I was able to stay with a losing trade because the volatility wasn't going against me...14:28

Now its going against me.

With a little luck...ER2 spikes upwards and allows me to escape before it quickly retraces and attempts another push downwards.

The trick is if it does spike...will my data keep up and let me know its time to dump it :(14:30

Got an order in.14:31
<ItalianSharp> volatility literally gone14:34
<szubaark> 10 AM News didnt mean squat today
<silo1> wb14:36
<NihabaAshi> Yep...the lack of volatility makes it an extremely high risk trading day.14:37
<les> just had ib disconnect
<NihabaAshi> First it open the day being "level" (no spikes) and that makes a lot of chop...14:38
<les> and ninatrader completely lost my sim trade
<NihabaAshi> THen when it died down...just try to hold on to a trade without getting pick pocketed in the tight range.
<ItalianSharp> niha, whats the probability of seeing some action before the close after such a day?
<NihabaAshi> Italian...good...14:39

The key is will we be trading when it happens.

If they don't attempt on a new Dow high today...

It has a strong chance they will try to early next week.
<ItalianSharp> the tough part of trading is to quickly recognize this type of days and adjust trading style accordingly14:40
<NihabaAshi> Getting close to the market season trading periods.

One particular adjustment is to not go after points and just take some ticks.
<ItalianSharp> right, i agree.14:41
when do you usually recognize this?
<NihabaAshi> Took me a few bad losses to realize the best I can get are some good ticks and should haved take them when they had appeared.

Italian...I usually don't see it until after 11am est...

Often too late.
<ItalianSharp> i had a bad feeling when the back-to-back econ reports didnt give the market any direction...14:42
right then i figured we were gonna have a tough day
it was just stop hunting and thats all
spiked up, spiked down, and we are right in the middle now
<NihabaAshi> The key econ reports produce some reversals but the reversals were quickly retraced.14:43

Ever since...the range has been painfully getting tighter and tighter.
<ItalianSharp> and also keep in mind all this dull action has been happening within a 4-pt range14:44
<NihabaAshi> A triangle formation since 0956am est14:45
<ItalianSharp> very tough to come out winners under these conditions
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)
<NihabaAshi> On the bright side...trading days like today are usually followed by few good volatility days...hopefully one of them develops into a trend day.14:46
<ItalianSharp> whenever the market attempts to make a little move, its quickly taken back to start
<NihabaAshi> Reason why its best not to get too upset about a day like today and be ready to trade on Monday.
<ItalianSharp> true
<NihabaAshi> O14:47
<ItalianSharp> the key is to recognize trade like this one as quickly as possible and limit the damage...waiting and saving money for better days
<NihabaAshi> I'm coming out swinging next week...looking for knockdowns.
Italian...you usually don't talk about money stuff in here...14:48
Are you trading today ?
<ItalianSharp> just demo trading

testing out different platforms
<NihabaAshi> Ok...my demo is not even working for some odd reason :(
<ItalianSharp> need to make up my mind about the platform within the next 2 weeks, then open an account and be ready to go by end of october14:49
<NihabaAshi> Get two different brokers with different platforms for those platform problem days because it will happen.14:50
<ItalianSharp> sounds like a good idea

you mentioned you use x-trader as one of yr platforms, what's the other platform you using?14:51
<NihabaAshi> Twice today I tried to exit at a 1 point loss to only see my initial stop loss get hit for twice as much...
Simply, during the data burst...my data was almost a full point behind...
<ItalianSharp> thank god days like these arent common14:52
<NihabaAshi> I saw something that was old and long gone.
Wow...its almost 3pm est and this is the longest trade I've held in a very long time.14:53
I thought for sure we would see a rally to the upside by now...
Instead, just chop.
<ItalianSharp> considering it's friday and the last trading day of the month, likelyhood of seeing some move is very low...one hour to go, lets see what happens14:54

have i spoken too soon?
<NihabaAshi>  Exited all ER2 Long @ 736.90 --> - 2.6 14:55
Shorts ER2 @ 736.50 -> large size
After seeing my initial stop picked off...14:57
Volatility better not die as soon as I reverse my position.
<ItalianSharp> true...i hope its not the same type of move that has characterized the whole day...i.e., retraces quickly
<les>  Shorts ER2 @ 736 «« paper »» 15:01
<NihabaAshi>  Covered all ER2 Short @ 736.20 --> + 0.3 15:02

Long ER2 @ 736.30 -> large size 15:04
<les>  Covered 1/3 ER2 Short @ 735.5 --> + 0.5 «« paper »» 15:07
i hate this downcreep crap15:11
i'd be going quietly nuts if i was live
Covered 1/3 ER2 Short @ 735.4 --> + 0.6 «« paper »» 15:12
<WannaBeBOS> that was funny les15:14
<les> well wbb...15:15
as my great aunt gemima usta say...
"I fail to see the humour in that, young man"
<NihabaAshi> All out15:16


Exited all ER2 Long @ 734.60 --> - 1.7

A stop out.

I'm done for the day after opening up my PnL statement...15:17

Horrible and scary.
<les>  Covered Remainder ER2 Short @ 735.3 --> + 0.7 «« paper »»
ok, i'm done
cya all monday
<NihabaAshi> Shook me all day to bounce back after my exit...on every trade except for 2
<pdays> THEY got ur # today Niha15:18
<NihabaAshi> Ooops...I still open on the other platform...will continue trading it if I can.
<substanz>  Long YM @ 11762 «« paper »» 15:19
<NihabaAshi> Just open the other PnL statement...15:20

I'm done there too.

Over 4k in losses :(

That's about 2 weeks of profits for me :(15:21

Two Fridays this month have resulted in big losses...
<ItalianSharp> sorry to hear that niha
<NihabaAshi> First time ever.
<ItalianSharp> u'll bounce back next week
<NihabaAshi> Italian...part of the game and learning experience.

I just hate carrying a loss like that into a month where I normally bump up the size.

Psychologically I have a difficult task for the next 2 weeks of trading.15:23

Unless I get lucky and see a strong signal and put some good size on it.
<Chilly> brutal couple of days for me after a good Mon. and Tues. ... bad for psych as you say
<ItalianSharp> you need to flash it down the toilet adn forget about it

you are more than capable of making it all up quickly15:24
<NihabaAshi> Italian...takes about 2 days of good flushing to forget it :)
<ItalianSharp> yep, agree

however, this sort'v days teach you about money management

and jsut being able to say stop

i am leraning a lot just by watching15:25

and demoing
<substanz>  Exited all YM Long @ 11761 --> - 1 «« paper »» 15:31
<WannaBeBOS> no record today15:42

record boredom maybe15:43
<substanz>  Long YM @ 11753 «« paper »» 15:52
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)15:57
<substanz>  Exited all YM Long @ 11752 --> - 1 «« paper »» 16:09
* DisconnectedSession Close: Fri Sep 29 16:45:57 200616:45

Think Geek


I don't always trade nor monitor the market from my home office. Sometimes I'll do such from one of my favorite nearby Wi-Fi hotspot or whenever I'm traveling via using this little Wi-Fi detection gadget I got from Think Geek that will show more than just the presence of any nearby signal and its signal strength. It has a 12-character LCD that provides information on signal availability and strength as well as essential network information, including SSID, security status and channel. When multiple networks are present the LCD me to scroll through information for each network.



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