#FuturesTrades October 1st Wednesday 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.

  My own current performance record and broker profit/loss statement is posted at the bottom of today's log.

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: Wed Oct 01 08:09:16 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	08:09
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<kosmipt>	gm	08:37
<estrader1>	GM
<@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.	08:49
<werner>	gm all	08:54
<@NihabaAshi>	Good morning all.	08:58
<+estrader1>	gm
<futurible>	gm all	08:59
<ItalianSharp>	morning all
<TraderG>	GM every1	09:00
<Brutus>	gm
<rickf>	gm	09:12
<Maximus>	gm
<+werner>	gm rickf,max	09:13
<+rickf>	hi wrener
	er you :
<nqcruiser>	hi folks	09:14
<+nqcruiser>	any1 knows how to put stops on openecry
<+rickf>	in the dom
<+nqcruiser>	how	09:16
	when i click buy i cant c anyplace to put a stop
<Nesi>	they have video demos...nq
<+rickf>	check the vids for more info but ...
	go to dom, click the triangle button for bracket options	09:17
	then make your stops as you like
<+Maximus>	ISM mfg report at 10am EST fyi	09:20
<+rickf>	probably won't trade much for a while today - head is killing me, didn't sleep well last night	09:22
	(just if anyone was wondering, lol)	09:23
<+Nesi>	:/
<+rickf>	yah
<PapaJon>	gm all	09:25
<+Maximus>	:/
<LP>	gm all	09:26
<@NihabaAshi>	Shorts ES @ 1154.75 -> large size	09:33
	:(	09:34
<drt>	gm
<@NihabaAshi>	trade error
	10 only
<+Maximus>	its looking okay ATM	09:35
<@NihabaAshi>	tighten trail @ profit
	tighten trail more
	Covered ES Short @ 1151.00 --> + 3.75	09:39
	Holding 1 contract remainder
<T-stop>	vn
<+Maximus>	n1
<+T-stop>	even your trade errors bank	09:40
<@NihabaAshi>	Covered Remainder ES Short @ 1153.50 --> + 1.25	09:42
<+rickf>	every little bit helps :)	09:44
<+Maximus>	Long YM @ 10782	09:47
	Out YM @ 10786 +5 size
<+Nesi>	Shorts ES @ 1156.75	09:49
<+Maximus>	er Correction - YM Long @ 10781 - positive slippage	09:51
<nqcruiser>	DTN iq is the world's worst datafeed. i am sitting and refreshing my ensign software. its sickening	09:52
<+Maximus>	I use Zenfire feed, scary fast and rock solid
<@NihabaAshi>	nqcruiser...are you under contract to continue using DTN IQ ???	09:53
	If not...get rid of it as if it's a bad trade.
<+Maximus>	jump ship brother
<+rickf>	just cancelled my dtn iq trial this morning - was backtesting some ideas ove the weekend in NT	09:54
<+Maximus>	rick are you using the zenfire feed in NT?	09:55
<+rickf>	nope - NT and IQ was what I used for my research
<+Maximus>	AH
* Kalle_away	is now known as Kalle	09:59
<+LP>	news in 1 min	10:00
<baxwill>	nqcruiser, DTN is best feed I have ever had, even faster than zenfire very often, I don't use Ensign tho	10:01
<+baxwill>	Far better for me than esig which I replaced
<+Maximus>	Flat construction spending
<+rickf>	i never had a problem w/it either	10:02
* Tintin	: hi all
<+Maximus>	Short ES @ 1149.25	10:03
<szubaark>	Shorts ES @ 1149.50 «« paper »»
<+Maximus>	Out ES @ 1150.25 -1
<@NihabaAshi>	weak support broke down	10:04
<+szubaark>	exit stop set ES @ 1152 «« paper »»
	Tightening Stop	10:06
	exit stop moved to breakeven ES @ 1149.50 «« paper »»
	tightening Stop	10:11
	exit stop set ES @ 1148.50 «« paper »»
<pdays>	Long YM @ 10670.	10:13
<+szubaark>	Covered all Short ES at 1148.50 --> + 1 «« paper »»
<+pdays>	Exited all YM Long @ 10688 --> + 18
	Long ES @ 1149.5	10:21
	Exited all ES Long @ 1151 --> + 1.5	10:22
<silo>	Shorts YM @ 10704	10:23
<@NihabaAshi>	Long ES @ 1150.00 -> small size
	2 only
<nqcruiser>	folks how do i remove the chart window from OEC on its own	10:25
<+szubaark>	Shorts ES @ 1149 «« paper »»	10:28
	Covered all Short ES at 1151 --> - 2 «« paper »»	10:29
<+silo>	Covered all YM Short @ 10747 --> - 43
	oops
	10707
	is the exit
<+szubaark>	Shorts ES @ 1148.50 «« paper »»	10:31
	second try.. same setup
<@NihabaAshi>	Exited ES Long @ 1148.25 --> - 1.75	10:33
	Reverse and Enter Short ES @ 1148.25
	Shorts ES @ 1148.00 -> Add
<+silo>	man i got out of that short
<@NihabaAshi>	2 on the reversal and added 2 more contracts
<+Nesi>	Covered ES Short @ 1146.75 --> + 10	10:40
	Reverse and Enter Long ES @ 1146.75
<@NihabaAshi>	trade result for the short didn't post	10:42
	still Long
<+szubaark>	Low Volatility, market waititng for the Bailout announcment
<+silo>	Long YM @ 10696
<@NihabaAshi>	2 only
<+szubaark>	Covered all Short ES at 1148.25 --> + 0.25 «« paper »»	10:43
<+Maximus>	bit of a congestion area	10:44
<+silo>	Exited all YM Long @ 10679 --> - 17
<@NihabaAshi>	Covered all ES Short @ 1147.00 --> + 2.25
	Hmmm...incorrect	10:45
	That's only +0.25
<+Nesi>	Long ES @ 1147.50 -> Add
<+szubaark>	Shorts ES @ 1146.25 «« paper »»	10:46
<+Nesi>	Exited all ES Long @ 1146.75 --> - 0.75	10:47
<@NihabaAshi>	Shorts ES @ 1146.25 -> small size	10:48
	3 only
	trade error	10:49
	2nd one of the trading day
	one more and I'm done for the day
<+silo>	what was the error?
<@NihabaAshi>	Covered all ES Short @ 1145.75 --> + 0.5	10:50
	Houdini Escape
<palmer>	niha what was that error	10:51
<@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.	10:52
<+szubaark>	Covered all Short ES at 1145.50 --> + 0.75 «« paper »»
<+Nesi>	Long ES @ 1146.25	10:53
<@NihabaAshi>	Long ES @ 1147.50 -> medium size	10:55
	4 only
<sav>	Shorts NQ @ 1559.25	10:58
<+Nesi>	Exited all ES Long @ 1147.00 --> + 0.75
<+sav>	Covered all NQ Short @ 1559.25 --> 0
<+szubaark>	Buys ES @ 1147.75 «« paper »»	11:00
<+Nesi>	Long ES @ 1148.50	11:01
<@NihabaAshi>	Exited all ES Long @ 1148.50 --> + 1
	lost my patience
<+Brutus>	above 1151.5 smooth sailing for longs szu	11:02
<+szubaark>	Exited all Long ES at 1145.25 --> - 2.5 «« paper »»	11:03
	Shorts ES @ 1145.25 «« paper »»
<+Nesi>	Exited all ES Long @ 1145.00 --> - 3.5	11:04
<+szubaark>	looks like a sucker Double Bottom	11:05
<HK>	Exited all ES Long @ 1170 --> + 9.75 «« paper »»
<+HK>	limit hit yesterday after log off
<+Nesi>	Long ES @ 1146.00
<+szubaark>	Weak Support Area	11:07
<+Nesi>	Exited all ES Long @ 1145.00 --> - 1	11:08
<+HK>	Long ES @ 1145.25 «« paper »»	11:09
<+Nesi>	darn
<+Maximus>	id say the 1145's is a decent support ES	11:10
<+Nesi>	Long ES @ 1145.50
	Long ES @ 1146.50 -> Add	11:11
<@NihabaAshi>	Long ES @ 1147.00 -> small size	11:15
	2 only
	trailing stop @ profit	11:20
	Exited all ES Long @ 1150.00 --> + 3	11:21
<+Maximus>	long TF at 664.6	11:23
	out TF at 665.1 + 5
	.5*
<+szubaark>	Covered all Short ES at 1152.25 --> - 7 «« paper »»	11:26
	Buys ES @ 1152.25 «« paper »»
	sneaky pullback off the low	11:29
<+ItalianSharp>	szu, this looks more than a pullback to me
	kind of reversal
	we could close the gaps
<+szubaark>	yes... i was watching them making lower lows by a tick, just wasnt sure :))	11:30
<+silo>	Shorts YM @ 10728	11:31
<+szubaark>	well, i wasnt breaking any rules since we were in a downtrend and i was Shorting, everyday learn something new LOL	11:33
<+silo>	Covered all YM Short @ 10728 --> 0	11:34
<+szubaark>	all indexes are down in double digits, we at lows, then this Monstrous pullback. new day, new games	11:35
<+silo>	Long YM @ 10743	11:37
<+HK>	Exited all ES Long @ 1154.25 --> + 9 «« paper »»	11:40
<+silo>	Exited YM Long @ 10745 --> + 2	11:42
	Reverse and Enter Short YM @ 10745
<+Maximus>	I wouldn't go as far as calling it games, it's just trading :) have to work with what we've got
<oaktree>	sell ym 10746 paper	11:45
<+oaktree>	out ym 10752 paper	11:49
<+silo>	Covered YM Short @ 10760 --> - 15	11:52
	Reverse and Enter Long YM @ 10760
	wrong post
	exited that short earlier than that
<+szubaark>	?
<+silo>	Exited all YM Long @ 10760 --> 0	11:55
<+oaktree>	sell ym 10750 paper	11:59
<+silo>	Shorts YM @ 10751	12:01
<+oaktree>	close ym 10751 paper	12:08
<+HK>	Long ES @ 1154.5 «« paper »»	12:09
	will prob retry 1170-75	12:11
<+silo>	Covered YM Short @ 10777 --> - 26	12:15
	Reverse and Enter Long YM @ 10777
<+szubaark>	tightening Stop	12:16
	exit stop moved to breakeven ES @ 1152.25 «« paper »»
<+silo>	Exited 1/2 YM Long @ 10817 --> + 40	12:17
	Exited Remainder YM Long @ 10807 --> + 30
<+Maximus>	n1 silo
<+Nesi>	Exited all ES Long @ 1160.50 --> + 29	12:18
	Shorts ES @ 1159.50
<+HK>	good one nesi
<+T-stop>	vn Nesi
<+Brutus>	yep vn	12:19
<+Nesi>	thx
<+silo>	Shorts YM @ 10789	12:20
<+Nesi>	Covered all ES Short @ 1158.25 --> + 1.25	12:21
<+silo>	Covered all YM Short @ 10789 --> 0	12:22
	Long YM @ 10789
<+szubaark>	tightening Stop	12:24
	exit stop set ES @ 1158 «« paper »»
<+HK>	Long ES @ 1160.25 -> Add «« paper »»	12:25
<+szubaark>	tightening Stop	12:26
	exit stop set ES @ 1159 «« paper »»
<+Nesi>	Long ES @ 1161.00	12:27
<+silo>	Exited all YM Long @ 10800 --> + 11
	Shorts YM @ 10802	12:28
<+szubaark>	Exited all Long ES at 1159 --> + 6.75 «« paper »»	12:29
<+HK>	Exited all ES Long @ 1159 --> + 3.25 «« paper »»
<+Nesi>	Long ES @ 1160.50 -> Add	12:30
<+Brutus>	when will the senate vote happen?	12:31
<+silo>	Covered all YM Short @ 10820 --> - 18
<+HK>	Long ES @ 1162.5 «« paper »»	12:32
<+Nesi>	Exited all ES Long @ 1164.50 --> + 7.5
<+szubaark>	Buys ES @ 1166.75 «« paper »»	12:35
	Volatility increasing	12:36
<+rickf>	tonight i think	12:38
<+Nesi>	Shorts ES @ 1167.50
<+szubaark>	Exited all Long ES at 1167 --> + 0.25 «« paper »»
<+Maximus>	slated to happen at 9/9:30 PM EST
<+Brutus>	thx	12:39
<+Nesi>	Covered all ES Short @ 1167.50 --> 0	12:41
	Shorts ES @ 1166.50	12:42
<+szubaark>	Shorts ES @ 1165.75 «« paper »»
<+Nesi>	hard stop at 1171.75 fwiw	12:43
<+szubaark>	exit stop set ES @ 1168 «« paper »»	12:44
<+HK>	Long ES @ 1166.5 -> Add «« paper »»	12:48
<+szubaark>	Covered all Short ES at 1168 --> - 2.25 «« paper »»
	Buys ES @ 1168.25 «« paper »»
<+HK>	europe bailout news	12:50
<+szubaark>	tightening Stop
	exit stop moved to breakeven ES @ 1168.25 «« paper »»
<+HK>	Exited all ES Long @ 1171.25 --> + 13.5 «« paper »»	12:52
<+Nesi>	Shorts ES @ 1170.75 -> Add	12:53
	changed my mind, fwiw
<+szubaark>	Exited all Long ES at 1168.25 --> 0 «« paper »»	12:54
	Shorts ES @ 1168.25 «« paper »»
<+silo>	Shorts YM @ 10880
<@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.	12:55
<+silo>	Covered 1/2 YM Short @ 10856 --> + 24	13:00
* codehead_afk	is now known as codehead
<+silo>	Shorts YM @ 10831 -> Add	13:02
<+Nesi>	Covered all ES Short @ 1164.00 --> + 9.25	13:03
<+szubaark>	nice Nesi	13:04
<+Nesi>	bit of luck, i changed my mind and i got some heat tho
<+silo>	Covered all YM Short @ 10828 --> + 55	13:05
<+szubaark>	tightening Stop	13:08
	exit stop set ES @ 1165 «« paper »»	13:09
<+HK>	Long ES @ 1163.75 «« paper »»	13:10
<+szubaark>	Covered all Short ES at 1165 --> + 3.25 «« paper »»
<+Nesi>	Long ES @ 1164.75	13:12
<+silo>	Shorts YM @ 10820	13:15
<+HK>	Long ES @ 1162.75 -> Add «« paper »»
<+Nesi>	Long ES @ 1164.00 -> Add	13:16
	Exited all ES Long @ 1163.50 --> - 1.75	13:20
	Shorts ES @ 1163.75	13:23
<@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
<+szubaark>	Buys ES @ 1163.25 «« paper »»	13:25
	exit stop set ES @ 1162 «« paper »»
<+Nesi>	Covered ES Short @ 1163.25 --> + 0.5	13:26
	Reverse and Enter Long ES @ 1163.25
<+silo>	Covered all YM Short @ 10825 --> - 5	13:27
<+HK>	Long ES @ 1163.5 -> Add «« paper »»
<+szubaark>	Exited all Long ES at 1162 --> - 1.25 «« paper »»
<+Nesi>	Long ES @ 1162.00 -> Add	13:28
<+szubaark>	Buys ES @ 1163 «« paper »»	13:29
<+Nesi>	set hard stop 1159.75 for both, fwiw
	Exited all ES Long @ 1160.50 --> - 4.25	13:30
<+szubaark>	they just ran a bunch of Stops	13:32
<+silo>	my god i got out too early	13:33
<+HK>	Long ES @ 1157.5 -> Add «« paper »»
<+Nesi>	Long ES @ 1157.25	13:35
	Long ES @ 1158.25 -> Add	13:36
<+silo>	Covered all YM Short @ forogot to post exit --> + 10820 - forogot to post exit
	Long YM @ 10773	13:37
<+Nesi>	Long ES @ 1158.75 -> Add	13:38
<+HK>	Long ES @ 1158.5 «« paper »»	13:39
	as soon as they step out that meeting we should see some upspurt	13:40
<+silo>	Exited 1/2 YM Long @ 10790 --> + 17
	Exited Remainder YM Long @ 10786 --> + 13	13:41
	Shorts YM @ 10786
<+szubaark>	Exited all Long ES at 1153.50 --> - 9.5 «« paper »»	13:44
	Shorts ES @ 1153.50 «« paper »»
<+HK>	Long ES @ 1153 -> Add «« paper »»
<+T-stop>	wow this is crazy
<+szubaark>	Covered all Short ES at 1160.25 --> - 6.75 «« paper »»
	bastids
<+HK>	what the heck just happened?
<+Brutus>	ge buffett investment
<+silo>	Covered all YM Short @ 10804 --> - 18	13:45
<+szubaark>	Buys ES @ 1161 «« paper »»
<+silo>	ended up hitting my stop
	wtf
<+szubaark>	frikin GAMES
<+Brutus>	10/01/2008 13:44 *DJ GE Announces Common Stk Offering; Warren Buffett Announces Investment In GE
<+HK>	Exited all ES Long @ 1168 --> + 24.5 «« paper »»
<+szubaark>	hope we SKYROCKET, i need the points now
<+T-stop>	sheesh GE halt	13:46
<+HK>	did anybody see that news when it broke? i wish i had the fastest news feed of some sort
<+Nesi>	Exited 1/3 ES Long @ 1167.00 --> + 8.25
<+Maximus>	saw it at 1:45 on the wire
<+HK>	what wire?
<+Maximus>	DJ	13:47
<+HK>	is that free?
<+Maximus>	my mistake - 1:44
	news of halt at 1:43
	its not free
<+HK>	how much is it
<+ItalianSharp>	funny thing is we could retrace this spike
<+T-stop>	sure could	13:48
	need to hold in here, imo	13:49
<+Maximus>	comes on my TOS platform, as long as you have a funded account.. no per month fee
<+Brutus>	tos?
<werner>	pff	13:50
<+Maximus>	thinkorswim.. side options broker for me
<+Brutus>	K
	GE gets halted it tanks, then the news, perfectly timed	13:51
<+HK>	thx Max
<+Brutus>	it - ES
<+rickf>	yeah saw it on bubblevision when making coffee a few mins ago	13:52
<+Maximus>	or there is always bubble vision too
	GE back up	13:53
<+szubaark>	Exited all Long ES at 1168 --> + 7 «« paper »»
<+silo>	Shorts YM @ 10860	13:54
<+rickf>	wtf.....OXPS shows DJIA up 470? that can't be right	13:56
	yet another reason why i am dumping them
<+Brutus>	http://www.newsstrike.com/subscribe.shtm l
	free	13:57
<+HK>	thx Brutus	13:58
<+Brutus>	yw
<+silo>	Covered 1/2 YM Short @ 10811 --> + 49	13:59
<+T-stop>	nice wk
<+Nesi>	Long ES @ 1161.75 -> Add
<+szubaark>	Buys ES @ 1163 «« paper »»	14:00
<+HK>	Brutus, is this news pretty quick? Did you see that GE news when it hit?
<+Brutus>	yes
<+HK>	ok, i just subscribed. thx	14:01
<+rickf>	interesting
<+szubaark>	Exited all Long ES at 1160.25 --> - 2.75 «« paper »»	14:02
	Shorts ES @ 1159.75 «« paper »»
<+silo>	damn szu	14:03
	shorting here?
<+T-stop>	hehe
<+rickf>	:(	14:04
<+T-stop>	ya never know with this market
<+Brutus>	SZU, WHAT ARE YOU DOING!!!!!
<+silo>	Covered Remainder YM Short @ 10785 --> + 75
<+Brutus>	hehe
<+szubaark>	playing this Volatility..
<+silo>	Long YM @ 10794	14:05
<+szubaark>	Covered all Short ES at 1160.50 --> - 0.75 «« paper »»
	Buys ES @ 1160.50 «« paper »»
<+Nesi>	buy YM 785
<+HK>	Long ES @ 1159 «« paper »»	14:06
* sep34	is now known as sep34_away	14:08
<+HK>	Exited all ES Long @ 1161.75 --> + 2.75 «« paper »»	14:10
<+silo>	exit stop set YM @ 10794
	Exited 1/2 YM Long @ 10832 --> + 38	14:16
	Exited Remainder YM Long @ 10850 --> + 56
	daily profit target reached	14:17
	:)
<+rickf>	:)
<+silo>	i was actually short before that 100 pt ym spike up
	was up a decent amount on that trade and ended up hitting my stop loss becasue of that spike up
	lol
	and i was down at the time	14:18
	these 2-3 trades saved my as
	ass
	:)
<+Brutus>	wd
<+silo>	we're in somewhat of a symmetrical triangle pattern	14:20
<+szubaark>	Exited all Long ES at 1166 --> + 5.5 «« paper »»	14:23
<+silo>	Shorts YM @ 10843 -> small size	14:26
	1 contract only
<+szubaark>	Shorts ES @ 1165.50 «« paper »»	14:28
	Covered all Short ES at 1168.75 --> - 3.25 «« paper »»	14:30
	Buys ES @ 1168.75 «« paper »»
<+Nesi>	i feel IF ES takes 170 than it aims for 180 area today, imho
<+szubaark>	Exited all Long ES at 1166.25 --> - 2.5 «« paper »»	14:31
	gezzzzz
	Shorts ES @ 1166.25 «« paper »»
<+silo>	good thing i'm only short 1 contract...
<+szubaark>	TANK!!!!!
<+silo>	chop area
	be careful szu... if yo udont use small size here
	you will very likely get chop to death :)
	but with small size you are able to see it through
<+szubaark>	just tough action..very competative tick for tick	14:32
<@NihabaAshi>	Shorts ES @ 1167.00 -> small size
<+silo>	so use small size?
<@NihabaAshi>	2 only
<+silo>	so you can actually see it through
	it'll help you avoid the chop	14:33
<+szubaark>	its obvious top here... still not going anywhere
<@NihabaAshi>	trailing stop @ profit
<+silo>	Shorts YM @ 10831 -> Add	14:34
	exit stop set YM @ 10837	14:35
<@NihabaAshi>	Covered all ES Short @ 1164.50 --> + 2.5
<+silo>	Covered all YM Short @ 10837 --> 0	14:36
<+szubaark>	Covered all Short ES at 1166.25 --> 0 «« paper »»	14:37
	Dont trust this
<+rickf>	i dont	14:38
<+silo>	Long YM @ 10846 -> small size
	just 1 contract
	intuition
<+szubaark>	Buys ES @ 1168 «« paper »»	14:39
	too much work for too many Stop outs :(
<+Nesi>	170	14:40
<+silo>	Long YM @ 10871 -> Add
<+kosmipt>	Nihaba, how much is your catastrophic stop on ES?	14:41
<+Nesi>	4
<+kosmipt>	4 pts?
<+rickf>	5
	yup
<+kosmipt>	ok thx
<+silo>	Exited all YM Long @ 10856 --> - 5	14:42
	Long YM @ 10864 -> small size	14:43
<+Nesi>	one more push, please
<+silo>	one contract
<+szubaark>	Exited all Long ES at 1168 --> 0 «« paper »»	14:44
	Shorts ES @ 1168 «« paper »»
	Covered all Short ES at 1169.25 --> - 1.25 «« paper »»	14:45
	Buys ES @ 1169.25 «« paper »»
	GO!!!!!!!!
<+HK>	1175 next i think	14:47
<@NihabaAshi>	Long ES @ 1171.00 -> small size	14:49
	3 only
<+silo>	will add second half after a retrace
<@NihabaAshi>	volatility increasing
<+estrader1>	short 71	14:50
<+silo>	Long YM @ 10873 -> Add	14:51
	averaged at 10870 now	14:52
<@NihabaAshi>	trailing stop @ profit
	Exited all ES Long @ 1171.25 --> + 0.25	14:53
* NihabaAshi	is now known as NihabaAshi_away	14:54
<+silo>	Exited all YM Long @ 10863 --> - 11	14:56
	Shorts YM @ 10860
<+szubaark>	Exited all Long ES at 1169.25 --> 0 «« paper »»
	Shorts ES @ 1169 «« paper »»
	Looks tired to upside, lets see, or they just playing games	14:57
<+estrader1>	all out 66 +5
<@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.	14:58
<+silo>	Covered 1/2 YM Short @ 10810 --> + 50
<+szubaark>	I have to hold, trading only 1 contract :(	14:59
<+silo>	holding one contract from 10860	15:01
<+HK>	Long ES @ 1165.75 «« paper »»
<+szubaark>	Covered all Short ES at 1165 --> + 4 «« paper »»	15:04
<+silo>	Covered Remainder YM Short @ 10824 --> + 36	15:07
<+szubaark>	Buys ES @ 1166.50 «« paper »»	15:08
<+silo>	Shorts YM @ 10825	15:11
<+szubaark>	silo, you greedy bastid
<+silo>	Covered all YM Short @ 10840 --> - 15	15:12
<+szubaark>	tightening Stop	15:13
	exit stop moved to breakeven ES @ 1166.50 «« paper »»
<+silo>	Shorts YM @ 10852
<+szubaark>	Exited all Long ES at 1166.50 --> 0 «« paper »»	15:14
	Shorts ES @ 1164.50 «« paper »»	15:15
<+silo>	Covered 1/2 YM Short @ 10805 --> + 47	15:17
<+szubaark>	Covered all Short ES at 1164.50 --> 0 «« paper »»	15:19
	Shorts ES @ 1162.50 «« paper »»	15:21
<+silo>	Covered Remainder YM Short @ 10818 --> + 34	15:24
<+szubaark>	c;mon lets test lows, i need the points	15:25
<+silo>	Shorts YM @ 10824	15:26
	Covered all YM Short @ 10839 --> - 15	15:30
	Shorts YM @ 10830	15:31
<+szubaark>	silo, you got pick pocketed	15:32
<+silo>	trying second time
	it's ok
	all part of trading
<+szubaark>	well, for me those add up real quick,like today
<+Maximus>	just all part of trading szu, just have to keep those winners > than the losing trades.	15:34
<+szubaark>	yes, BUT its hard to get those winners when market chops in small ranges most the time
<+silo>	then you need to identify which areas are safer for you to play
	and since you only trade 1 contract	15:35
<+szubaark>	easier said then doen
<+silo>	you're at a disadvantage already 'cuz yo udont have as many exit strategies and trade management techniques
	so you need to be even more careful
	in selecting trades , identifying chops, and stay away from them
	and with 1 contract.... you need to have amazing accuracy with your exit
<+Maximus>	unless you are running an extremely precise entry/scalp with fixed stop and tp levels that happen to net over 50% winning trades with favorable RR ratios	15:36
<+szubaark>	Covered all Short ES at 1167.50 --> - 5 «« paper »»
	Buys ES @ 1167.50 «« paper »»
<+silo>	Covered all YM Short @ 10847 --> - 17
<+Maximus>	agreed silo
<+silo>	wow i'm surprised we didn't drop earlier
<+szubaark>	Sneaky upcreep	15:37
<+silo>	Shorts YM @ 10835
<+szubaark>	Exited all Long ES at 1164.75 --> - 2.75 «« paper »»
	bastids
<+silo>	really wanted to catch this last move lol
<+szubaark>	Shorts ES @ 1164.75 «« paper »»
<+silo>	ended up giving a chunk of profits away
<+szubaark>	TANK!!!!!!	15:38
<+Maximus>	try not to focus on catching each move, only the ones that tip probability of a winning trade in your favor
	you seem to have much emotion in your trading, no disrespect
<+szubaark>	yes BUT in trading there are also many uncontrolable variables like NEWS SPIKES
<+Maximus>	very true	15:39
<+szubaark>	that GE news spike threw me off and now im trading Mad because i got whacked for a -9 Stop on that Spike
<@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
<+silo>	me too
	i was up a few hundred bucks
<+Maximus>	short es at 1163.75
<+silo>	but ended up losing 150
	:)
<+szubaark>	i DID NOT KNOW we gonna have a GE news SPIKE
	looks like CHOP til end of day	15:42
<+Maximus>	out ES 1164.75 -1
<+silo>	Covered all YM Short @ 10850 --> - 15	15:43
	Long YM @ 10853
<+szubaark>	Covered all Short ES at 1166.50 --> - 1.75 «« paper »»
	Buys ES @ 1166.50 «« paper »»
	last trade, getting fed up with this
<+Maximus>	you also want to decrease your stop size, just read that -9 point ES loss	15:44
<+silo>	Long YM @ 10853	15:45
<+szubaark>	Max that was that GE news spike, came out of nowhere!
<+Maximus>	Ah, but did you have your stop loss in place? or was it a mental stop	15:46
<+szubaark>	Mental	15:47
<+Maximus>	silo hope you caught some upside
<+silo>	Exited all YM Long @ 10835 --> - 18
	wow
	giving back profits haha
	need to calm myself down
	i got too greedy
<+Maximus>	just play it cool 8 ) and take your signals	15:48
<+szubaark>	Exited all Long ES at 1164.25 --> - 2.25 «« paper »»
	4 loses in a row in this frikin Chop!
	im done.. another tough day daytrading	15:49
<+Maximus>	im sure you will discover something in your post trade analysis that will help you from today!
<+szubaark>	i review each day for last 5 years, still this crap is hard	15:50
	just competative arena and each day is different whats hard about it	15:51
<+Maximus>	very true
<+szubaark>	also lately a lot of Stop Hunting
	lots of Stop spikes on pullbacks lately, i get my setup for entry yet they will fakeout and come back and get Stops til it bleeds out	15:52
<+Maximus>	tis an extremely volatile market
<+szubaark>	im going back to trading 2 contracts and grabbing quick Profit as trying to catch runners with 1 is useless	15:53
	seems the whole world is just grabbing quick Ticks(scaling) thats why each tick is a fight	15:54
<+Maximus>	long ES 1165.25 and out out at 1166.25 +1
<+szubaark>	but will need to Place Hard Stops so i wont self-destruct with big Stops	15:55
<+Maximus>	hard stops are very important
	me, im a scalper and live by them
	happy plugging away for a point or so, but the risk management is paramount
<+szubaark>	i was doing fine UNTIL that GE news spike threw me off and started to Overtrade	15:57
	next time i see a news spike will just walk away from that Bull&^%$#$
<+werner>	gn all	16:02
<Andy>	gn all	16:05
<@NihabaAshi_away>	Shorts ES @ 1167.00 -> small size
	1 only
	Covered ES Short @ 1168.00 --> - 1	16:06
	Reverse and Enter Long ES @ 1168.00
	trailing stop @ profit	16:07
* NihabaAshi_away	is now known as NihabaAshi
* +Tintin	: bye all	16:09
<+Maximus>	see ya	16:11
<@NihabaAshi>	trailing stop raised	16:12
	Exited ES Long @ 1170.50 --> + 2.5	16:14
	I beat the mad rush out the door :)	16:15
	Take care all and see all tomorrow
* NihabaAshi	is now known as NihabaAshi_away
<bazooka85>	hi all	16:48
<breakout>	senate live on bloomberg	17:04
<+breakout>	cnn confirm house vote fri not tomorrow	17:13
<HK>	guys still here? waiting for the vote?	18:12
<+Maximus>	hey roger	20:35
<rogercha>	hello	20:39
<+rogercha>	thank you for letting me join the room.	20:40
<+Maximus>	wasn't my call :) - thank NihabaAshi	20:59
	vote any min here	21:05
<@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. Session Close: Thu Oct 02 00:00:00 2008	23:13
Trading Edge:  Strategies	If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management, intermarket analysis with a money back guaranteed policy...click here.
	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)

We are proud to say that our chat room members are from the following geographical areas in the world:

Argentina, Australia, Belgium, Brazil, Canada, Denmark, France, Germany, Greece, Hong Kong (China), Italy, Japan, Mexico, Portugal, Puerto Rico (U.S.), Saudi Arabia, Singapore, Spain, United States and Venezuela.

In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:  

CME Emini Futures EMD, ES and NQ   

ICE Emini ER2

CBOT mini-sized Dow Futures YM

Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Eurex Fixed Income Derivatives BUND, BOBL and Schatz

Euronext Futures FTSE-100 and CAC-40

CME Futures EuroFX EC

Treasury Futures T-Notes ZN, ZF and T-Bonds ZB

Forex Currencies EurUsd, EurYen and UsdCdn

Exchange Traded Funds DIA, IWM, QQQQ, SPY, OIH, XLE and GLD  

NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

COMEX Metals Gold GC and ZG

Hang Seng Index Futures HSI

Last of all, if you have any questions about any of the above commentary, specific trades et cetera...

Don't hesitate to ask your questions and we'll reply back as soon as possible.

Sincerely,

M.A. Perry and Associates

TheStrategyLab.com

 questions@thestrategylab.com

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