#FuturesTrades October 6th Monday 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: Mon Oct 06 09:12:14 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	09:12
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<ItalianSharp>	rate cut coming up?
<pat255>	gm N
<rickf>	.	09:13
<+rickf>	i dunno	09:15
	i think if we cross 10K on the Dow you'll see retail folks panic bigtime
	if we cross 1000 on the SP the institutions will panic bigtime :)	09:16
	< - eyeing the ES
<+ItalianSharp>	yes...
	i think it's likely
	maybe not today...but this week very likely
* TL-TradeLancer	is now known as TL	09:17
<TraderG>	good morning
<kosmipt>	gm	09:23
<+Maximus>	gm all	09:24
<PapaJon>	gm all	09:27
<+AndyP2100>	gm	09:30
<@NihabaAshi>	Good morning all.
<T-stop>	gm	09:31
<+rickf>	VIX 49.45	09:32
<LP>	gm all	09:34
<+Maximus>	time to sell some credit spreads	09:36
<+rickf>	:)
<Flex>	morning
<silo>	Shorts YM @ 10151	09:37
<futurible>	Shorts ES @ 1079.25 «« paper »»
<+rickf>	i had a RUT IC that I closed last week .... thank gods I did	09:39
<+Maximus>	any theta+ play will be nice in a vol crush
	at these levels
	problem is if it sustains these extremes
<+futurible>	Covered all ES Short @ 1081.25 --> - 2 «« paper »»
<+rickf>	i didnt want to hold it -- a 100 point range was nothing last week	09:40
<+silo>	Covered all YM Short @ 10157 --> - 6
<+Maximus>	very true
<+futurible>	Shorts ES @ 1079.50 «« paper »»
	Covered 1/2 ES Short @ 1078.50 --> + 1 «« paper »»	09:41
	Covered Remainder ES Short @ 1079.50 --> 0 «« paper »»
<+rickf>	wow. OEC changed the color of my lines .... wtf?	09:42
<Nesi>	Long ES @ 1181.75 «« paper »»
* +rickf	wondered why the slow MA was opposite the faster one. werid	09:43
<+silo>	Shorts YM @ 10158
<szubaark>	Shorts ES @ 1077.75 «« paper »»	09:44
<+silo>	Covered 1/2 YM Short @ 10130 --> + 28	09:46
	gonna leave half in
<+pat255>	vn
<+szubaark>	tightening Stop	09:47
	exit stop set ES @ 1080.25 «« paper »»
<+silo>	exit stop set YM @ 10158
<@NihabaAshi>	Long ES @ 1076.75 -> medium size
	4 only
<+szubaark>	tightening Stop	09:48
	exit stop moved to breakeven ES @ 1077.75 «« paper »»
<@NihabaAshi>	Exited all ES Long @ 1075.25 --> - 1.5
	Long ES @ 1075.75 -> medium size	09:49
	4 only
<+szubaark>	Covered all Short ES at 1077.75 --> 0 «« paper »»	09:50
<@NihabaAshi>	trailing stop @ profit	09:51
<nqcruiser>	tough day	09:52
<estrader11>	gm all
<@NihabaAshi>	Exited all ES Long @ 1076.00 --> + 0.25
<+rickf>	yeah weird
	suits me fine, i'm making my stock shopping list :)	09:53
<+szubaark>	Shorts ES @ 1074.25 «« paper »»
<+Nesi>	Long ES @ 1073.50 -> Add «« paper »»	09:54
<+szubaark>	tightening Stop	09:55
<+nqcruiser>	is OEC resource hungry? I have only 89 meg ram free and its not running
<+szubaark>	exit stop moved to breakeven ES @ 1074.25 «« paper »»
* Tintin	: hi all
<@NihabaAshi>	Shorts ES @ 1071.50 -> large size
	9 only
<+silo>	Covered Remainder YM Short @ 10077 --> + 81	09:56
<+T-stop>	vn
* +Tintin	----[ shorts es @ 1075.75 ]----
<@NihabaAshi>	correction	09:57
<+szubaark>	tightening Stop
<@NihabaAshi>	Shorts ES @ 1071.25 -> large size
<+szubaark>	exit stop set ES @ 1073 «« paper »»
<@NihabaAshi>	not 1071.50
<+szubaark>	tightening Stop	10:00
	exit stop set ES @ 1072 «« paper »»
<+Maximus>	could crack 10k INDU
<@NihabaAshi>	Covered all ES Short @ 1068.25 --> + 3	10:01
<+Nesi>	Long ES @ 1168.50 -> Add «« paper »»
<+pat255>	vn N
<+szubaark>	tightening Stop	10:02
	exit stop set ES @ 1071 «« paper »»
<@NihabaAshi>	Shorts ES @ 1065.75 -> medium size	10:03
	4 only
<+Maximus>	cracked 10k	10:04
<+szubaark>	tightening Stop
	exit stop set ES @ 1070 «« paper »»
<@NihabaAshi>	trailing stop @ profit	10:06
* +Tintin	----[ buys es @ 1062.00 ]----
<@NihabaAshi>	Covered all ES Short @ 1063.75 --> + 2
<+szubaark>	tightening Stop	10:07
	exit stop set ES @ 1065.75 «« paper »»
<+silo>	Long YM @ 10040
<+szubaark>	Covered all Short ES at 1065.75 --> + 8.5 «« paper »»	10:08
<sav>	nice szu
<+szubaark>	thanks
<+rickf>	wtg
<ddoonie>	nice szubark!
<+silo>	Exited all YM Long @ 10025 --> - 15	10:10
	damn it
	didn't exit
* +Tintin	----[ buys es @ 1064.50 ]----	10:11
<+rickf>	sheesh there's so much good stuff "on sale" it's real hard not to start bottom picking	10:13
	VIX 51.25
<+pat255>	rick what u buy?	10:14
<+rickf>	nothing yet, eyeing a bunch of stuff
<+pat255>	k thks
<+rickf>	np	10:15
<+Maximus>	no harm in trying to pick the bottom rick, just made sure your hedged up
<+rickf>	yep	10:16
* +Tintin	----[ buys es @ 1062.50 avg in (medium loaded) ]----
	----[ buys es @ 1058.25 avg in (mega loaded) ]----	10:21
<+rickf>	mega loaded
	?
<+Maximus>	thats a new one
<+ddoonie>	it is his 4th avg in	10:22
<+rickf>	that like the BFG9000 in 'Doom' ?
<+Tintin>	73 contracts (it's mega loaded for me)
<+szubaark>	whats next, Overloaded?
<+Maximus>	LOL
<+rickf>	heh
<palmer>	73 contracts- WOW
<+Maximus>	that is quite large, yes Tintin
<+Nesi>	very large...yup	10:23
<+Maximus>	almost 1k a tick
<oaktree>	buy spy 105.08
<stargazer>	lol megaloaded	10:24
<winmax60>	good morning Nihaba and all	10:25
<+Maximus>	gm
<+stargazer>	short 1055.75	10:27
	ESZ8
	exit 1054 +1.75	10:28
<@NihabaAshi>	Shorts ES @ 1052.75 -> medium size	10:29
	Covered all ES Short @ 1054.75 --> - 2	10:31
	4 only	10:32
<+Maximus>	vix all time high.. wow	10:34
<@NihabaAshi>	Shorts ES @ 1051.00 -> medium size	10:35
	5 only
<+ddoonie>	s&p 5 year low too i beleive	10:36
<+Nesi>	anyone remember the low made when market opens after 9/11 on the ES?
<+rickf>	VIX was over 100 I think in '87	10:37
<+Maximus>	volatility pickin up
	was that the old formula rick?
<+rickf>	think so
<@NihabaAshi>	Covered ES Short @ 1046.75 --> + 4.25	10:38
	Holding 1 contract remainder
<Brutus>	spx 944.75
<+Maximus>	quite a bit of fear is es/spx breaches 1000	10:40
<+szubaark>	there is gonna be a lot of Margin Calls at end of day
<Kalle>	hope ur out, Tintin
<+Maximus>	I was just wondering about that mega position..	10:41
<+ddoonie>	40point drop in 1 hour
<+Nesi>	armagedon in the making...
<+Maximus>	welcome to october!
	not to monger in the slightest, but I wonder the effects of this over the next 3-6 months in the eurozone	10:42
<+szubaark>	Whos doing all this selling, I know its not your average stock trader LOL	10:43
<+ItalianSharp>	expect a bounce when ES takes out 1034.25
	damn...this is hardcore selling
<+Maximus>	:)
<+ItalianSharp>	wow...ES sliced thru 34.25	10:44
	i guess it wants 999
<+Maximus>	these major supports?
<+ItalianSharp>	1034.25 was	10:45
<+silo>	Long YM @ 9799
<+ItalianSharp>	999 is just a psychological level
<+Maximus>	holding italian at 34.75	10:46
<@NihabaAshi>	Covered Remainder ES Short @ 1038.75 --> + 12.25
<+ddoonie>	all my pivots have gotten messed
<+Maximus>	wow Nice Niha
<+szubaark>	Nice Niha.	10:47
<werner>	gm all
<+Brutus>	10/06/2008 10:45 *DJ UK's FTSE 100 Index Now -8.5% At 4556.85	10:48
	10/06/2008 10:46 *DJ DJ Stoxx 600 Index Now -8.2% At 239.98
<+Maximus>	Long ES 1043
<+ddoonie>	finally a slight bounce
<+Brutus>	10/06/2008 10:48 *DJ Brazil Stock Index Down 15%, Trading Halted For One Hour
<+Maximus>	Out ES 1041 -2
<+ddoonie>	TinTin what kind of risk/reward you looking at, if you dont mind me asking...	10:49
<+silo>	Exited 1/2 YM Long @ 9860 --> + 61	10:50
<+Maximus>	VIX 56
<+silo>	Exited Remainder YM Long @ 9853 --> + 54	10:51
<+ddoonie>	nice trade silo
<rickf_>	.	10:52
<+silo>	Shorts YM @ 9832
	Covered all YM Short @ 9851 --> - 19	10:54
<@NihabaAshi>	Long ES @ 1042.00 -> small size
	1 only
<+silo>	Long YM @ 9865	10:55
<+szubaark>	Buys ES @ 1144.50 «« paper »»
<@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.
<+szubaark>	Exited all Long ES at 1144.50 --> 0 «« paper »»
	too jumpy
<@NihabaAshi>	Exited ES Long @ 1047.00 --> + 5	10:57
<AustinJM>	Hello everyone	10:59
<+Maximus>	hey austin
<+silo>	Exited 1/2 YM Long @ 9913 --> + 48	11:00
	Exited Remainder YM Long @ 9907 --> + 42	11:01
<@NihabaAshi>	Shorts ES @ 1048.75 -> medium size	11:04
	4 only
<+szubaark>	wow..nasty spikes
<@NihabaAshi>	:(
	Covered all ES Short @ 1050.75 --> - 2
<+szubaark>	Shorts ES @ 1052 «« paper »»	11:05
	tightening Stop	11:06
	exit stop moved to breakeven ES @ 1052 «« paper »»
	Covered all Short ES at 1052 --> 0 «« paper »»	11:07
<@NihabaAshi>	Long ES @ 1052.50 -> small size	11:08
	2 only
<+szubaark>	Shorts ES @ 1052 «« paper »»
	trying again	11:09
	Covered all Short ES at 1054.50 --> - 2.5 «« paper »»
<@NihabaAshi>	trailing stop raised
<+estrader11>	S58	11:11
<+ddoonie>	go tintin goo
<+estrader11>	out 1/2 56 +2	11:12
<+szubaark>	Shorts ES @ 1055.25 «« paper »»
<+stargazer>	tintin got balls	11:13
<+silo>	Shorts YM @ 9947	11:14
<@NihabaAshi>	Exited all ES Long @ 1054.50 --> + 2
<+estrader11>	out rest 53 +5
<+szubaark>	tightening Stop	11:15
	exit stop moved to breakeven ES @ 1055.25 «« paper »»
<@NihabaAshi>	Shorts ES @ 1052.25 -> medium size
	4 only
<+silo>	Covered 1/2 YM Short @ 9920 --> + 27	11:16
<@NihabaAshi>	got burnt last time with the same trade
<+silo>	Covered Remainder YM Short @ 9947 --> 0	11:17
<@NihabaAshi>	Covered all ES Short @ 1054.25 --> - 2
<+szubaark>	Covered all Short ES at 1055.25 --> 0 «« paper »»
<+AustinJM>	Nihaba, on the 30 min ES a hammer line has formed yet next interval the candle opened 1 tick below close of dark hammer. Is this still a nice hammer considering the next interval closes > upper shadow of hammer line?	11:19
<@NihabaAshi>	Long ES @ 1055.50 -> medium size
	5 only
	tighten trail @ profit	11:22
	Exited all ES Long @ 1055.75 --> + 0.25	11:23
<+szubaark>	Shorts ES @ 1055 «« paper »»
<+silo>	Long YM @ 9954	11:24
<+szubaark>	Covered all Short ES at 1058 --> - 3 «« paper »»	11:25
<@NihabaAshi>	Long ES @ 1057.50 -> medium size
	4 only
<+Maximus>	wonder if fed will cut tomorrow	11:26
	looks like 98% chance FFF	11:27
<@NihabaAshi>	Exited all ES Long @ 1057.75 --> + 0.25
<+szubaark>	Shorts ES @ 1057.50 «« paper »»
<@NihabaAshi>	;(	11:28
<@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>	trying AGAIN
<+silo>	Exited all YM Long @ 9954 --> 0
<@NihabaAshi>	Shorts ES @ 1055.25 -> medium size	11:29
	4 only
<+silo>	Shorts YM @ 9942	11:30
<@NihabaAshi>	1st trade error of the day...two more and I'm done for the day.
* +ddoonie	----[ Shorts ES @ 1053.75 ]----
<+silo>	what was the error?	11:31
<+szubaark>	tightening Stop	11:32
<+rickf_>	short es 1051
<+szubaark>	exit stop set ES @ 1057 «« paper »»
* +ddoonie	----[ Covered 1/2 position ES @ 1050.25 ]----	11:33
<@NihabaAshi>	Covered ES Short @ 1052.25 --> + 3	11:34
<+rickf_>	out 53 -2	11:35
<+Brutus>	nesi, are you gonna hold till it closes the gap?
<+silo>	Covered all YM Short @ 9942 --> 0	11:36
<+rickf_>	short 1053.25	11:37
<+silo>	Shorts YM @ 9930
<+rickf_>	out 50.25 +3	11:38
<+AustinJM>	Short TF @ 591.1
<codehead>	hm, 9877 low of dip was *exactly* .500 retracement	11:40
<+szubaark>	tightening Stop
	exit stop set ES @ 1054.50 «« paper »»	11:41
<+Maximus>	saw the codehead
	that*
<+szubaark>	Volatility declining	11:42
<+rickf_>	short es 1049.75
<+AustinJM>	Covered short @ 589.9 / +1.2	11:43
<+silo>	Covered 1/2 YM Short @ 9907 --> + 23	11:44
<+rickf_>	out 51	11:45
<+silo>	Covered Remainder YM Short @ 9925 --> + 5
<+szubaark>	Covered all Short ES at 1054.50 --> + 3 «« paper »»
<+rickf_>	short es 1050	11:49
	out 1048 +2
<+szubaark>	nice rick
<+rickf_>	ty
	short 47.25	11:50
	out 45 +2.25	11:52
* +ddoonie	----[ ES Stop Moved TO breakeven ]----
<+Maximus>	wonder how tintin is fairing
<+Tintin>	i'm out	11:54
	but i have mirc script troubles it seems
<+Maximus>	Ah
<+Tintin>	big loss
<+Maximus>	:(	11:55
<+Tintin>	[10:44] * @Tintin ----[ covers es @ 1038.25 -20 all out ]---- /describe #futurestrades ----[ covers es @ 1038.25 -20 all out ]----
<+Maximus>	lunch time	11:59
* +ddoonie	----[ ES Stop Moved TO 1049.25 ]----	12:00
	----[ Covered ES @ 1049.25 ]----
<+codehead>	YM got within 3 ticks of .618 retracement, then finally closed a green bar on the 5 min	12:01
<+silo>	Shorts YM @ 9913	12:03
<+rickf_>	back in a bit	12:08
* +ddoonie	----[ Shorts ES @ 1047.25 ]----	12:09
<+silo>	holding this one	12:11
	think we'll make lower low
<+AustinJM>	low of hammer is 9760	12:12
<+silo>	should at least test it i think	12:16
* +ddoonie	----[ Covered 1/2 position ES @ 1044.50 ]----	12:17
<+AustinJM>	9913 is a nice place to be if you're still there
<+silo>	yeah	12:18
	still holding
	:)
<+AustinJM>	Well, you won't go hungry tonight anyways :)	12:19
	20 period linear regression doesn't look like you'll make bottom at 10/15 minute and oversold at 30 m	12:20
<+silo>	certainly needs to break this leve of support here :(	12:25
<+AustinJM>	well just remember its lunchtime in NYC so volume will be low right now	12:26
<+codehead>	long 9857 YM <paper>, stop 9844	12:30
<+Maximus>	and im back	12:32
	and we havent gone anywhere
<+codehead>	exit half YM +20 <paper>
<+AustinJM>	Because you're addicted and they are not. they like lunch!
<+codehead>	raise stop to 9848 on remainder	12:33
<+AustinJM>	what time chart are you basing this off of code?	12:34
<+codehead>	5 min	12:35
	cci not looking good here tho	12:36
<+ddoonie>	come on we need to break that level	12:37
<+AustinJM>	basically sitting on 20 MA
	on low volume
<+codehead>	exit -2
	it's going down
<+ddoonie>	20MA on what time frame
<+AustinJM>	5	12:38
	minute
<+ddoonie>	well we just made a recent low
	lets see if this helps
	well i am short, so help me i mean
<+AustinJM>	haha
* +ddoonie	----[ ES Stop Moved TO breakeven ]----
<+Maximus>	hey rick, you writing any options into this?
<+codehead>	i have wave targets 9820, then 9790
<+ddoonie>	damn it was the line on my charts holding the market up, i just deleted it, now its going down :)	12:40
<+Maximus>	dick fuld on cnbc fwiw	12:41
<+AustinJM>	is he lying?
<+Maximus>	short ES 1038	12:46
* +ddoonie	----[ Shorts ES @ 1040 ]----
<+ddoonie>	sorry /stop ES 1040
<+codehead>	tapped 9890
* +ddoonie	----[ ES Stop Moved TO 1040 ]----	12:47
<+codehead>	9790
	i mean
	wave target
<+silo>	Covered 1/2 YM Short @ 9802 --> + 111
<+Maximus>	Stop ES moved to profit
<+AustinJM>	nice call buddy
<+Maximus>	Out ES 1037 +1	12:48
<+silo>	:P
* +ddoonie	----[ Covered Remainder of ES @ "1040 +7.25" ]----	12:49
<+codehead>	bounced off the 9790 wave target
<+Maximus>	fuld put on the spot Bigtime..
<+codehead>	9741 is first upside wave target	12:50
	9841
<+AustinJM>	haha im watching
	told you he was laying	12:51
	lying
<+codehead>	top of that bounce 9842, so wave targets were good on both sides	12:53
<+silo>	Shorts YM @ 9828 -> Add	12:54
	hehe lehman brother's guy is sweating on the stands lol	12:55
<+T-stop>	big time
<+AustinJM>	haha ya he is
	watch his eyes, he's blinking an awful lot
<+T-stop>	not sure he saw this coming
<+AustinJM>	i would say its a big number, but its incorrect
<+Maximus>	lol
	fuld is dodging hard
<+AustinJM>	i would interview with them for 500M from 2000-2008	12:56
<+codehead>	potential inverted ghost on YM 3 min, szu	12:58
<+Maximus>	you guys CCI traders?
<+codehead>	watch it also
<+rickf_>	bak
<+Maximus>	Short ES 1036.75
<+codehead>	however, zlr (down) was the print	12:59
<+rickf_>	yeah i use cci to keep me honest, tho not as a signal per se
<+codehead>	QM crude hit 88.45
<+Maximus>	Stop ES to profit	13:00
	Out ES @ 1034.75	13:01
	+2
<@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.
<+silo>	Covered 1/2 YM Short @ 9802 --> + 26	13:02
	Covered Remainder YM Short @ 9803 --> + 110
<sav>	excellent silo
<+Brutus>	wd silo	13:03
<+silo>	Long YM @ 9810
	thanks
	:)
	Exited all YM Long @ 9835 --> + 25	13:06
<@NihabaAshi>	Long ES @ 1041.00 -> medium size	13:07
	4 only
<+codehead>	upside wave targets: 9854, then 10008	13:08
<+rickf_>	has anyone heard a RUMOR that the gov may halt trading (of some sort) for a short period of time ?
<+codehead>	dowside: 9782, then 9693
<+ItalianSharp>	rick, i haven't	13:09
	i know brasilians have
<+rickf_>	again, RUMOR......just thinking other countries have halted for a bit recently, and it's the 2nd person who's mentioned it today to me
	btw FOMC minutes tomorrow at 2PM
<@NihabaAshi>	Exited all ES Long @ 1039.00 --> - 2
<+Maximus>	FFF indicate 98% chance	13:11
<@NihabaAshi>	Shorts ES @ 1040.00 -> medium size
	4 only
<+silo>	Long YM @ 9816	13:13
	Exited all YM Long @ 9802 --> - 14	13:14
<+AustinJM>	Fulds got his tap dancing shoes on
<+silo>	eh... thought i give it a shot haha
	Long YM @ 9810	13:16
<@NihabaAshi>	Covered all ES Short @ 1039.25 --> + 0.75
<+rickf_>	wow - even cramer is saying to get out
	http://www.msnbc.msn.com/id/27045699/
<+Maximus>	lol
	oh bouy
	boy*
<@NihabaAshi>	Long ES @ 1042.50 -> small size	13:21
	2 only
<+szubaark>	Buys ES @ 1044.75 «« paper »»	13:22
<+silo>	Exited all YM Long @ 9855 --> + 45	13:23
<+Maximus>	i think we close off the lows today	13:24
<@NihabaAshi>	Exited all ES Long @ 1044.50 --> + 2	13:25
<AustinM>	its looking very likely
<@NihabaAshi>	:(
* NihabaAshi	is now known as NihabaAshi_away
<+AustinM>	why was he sad about 8 ticks?
<+szubaark>	Declining Volatility	13:27
	Exited all Long ES at 1044.75 --> 0 «« paper »»	13:28
	:((
<+silo>	Shorts YM @ 9860
<+rickf_>	TSCM columnist: "the S&P 500 (SPX) is down 5.72% on the day. For the past 3 Mondays the SPX has dropped every time: 9/15 (-4.71%); 9/22 (-3.82%); 9/29 (-8.79). On a simple basis the SPX has roughly 23% for over the past 4 Mondays including today. This is simply unheard of. "	13:29
	sheesh
<+silo>	Covered all YM Short @ 9839 --> + 21	13:30
* +ddoonie	----[ Shorts ES @ 1040.75 ]----	13:31
	----[ Covered 1/2 position ES @ 1308 ]----	13:32
<+szubaark>	Shorts ES @ 1038 «« paper »»
<+estrader11>	long 39.25	13:33
<+ddoonie>	why am i typing all funny
* +ddoonie	----[ Covered 1/2 position ES @ 1038 ]----
<+silo>	3x daily profit target reached so far :)	13:34
<+ddoonie>	have you gone live yet silo?	13:36
<+szubaark>	He is LIVE, just to confirm.
<+ddoonie>	sorry!
	phenomenal record thus far!	13:37
<+silo>	hehe it's ok
<+szubaark>	tightening Stop	13:38
	exit stop set ES @ 1039 «« paper »»
	tightening Stop	13:40
	exit stop moved to breakeven ES @ 1038 «« paper »»
	Covered all Short ES at 1038 --> 0 «« paper »»	13:41
	Buys ES @ 1040 «« paper »»	13:42
	tightening Stop
	exit stop moved to breakeven ES @ 1040 «« paper »»	13:43
	geezzz..
	Exited all Long ES at 1040 --> 0 «« paper »»
<+codehead>	i have wave targets on Ym 9754 for downside, 9884 for upside
	you often see some reversal when it hits those	13:44
	ealier, for instance, had downside at 9790 and upside 9841--it bounced off 9790 exactly, when to 9842 on bounce, then back down
<+szubaark>	Shorts ES @ 1036.50 «« paper »»	13:45
<+codehead>	revised targets: 8754 and 9865	13:48
* +ddoonie	----[ Shorts ES @ breakeven ]----	13:49
<+ddoonie>	shit
<+szubaark>	tightening Stop
* +ddoonie	----[ ES Stop Moved TO breakeven ]----
<+szubaark>	exit stop moved to breakeven ES @ 1036.50 «« paper »»
<+codehead>	9750
	so downside hit
	next is 9657 :-P	13:50
<+szubaark>	Weak Support Area
<+codehead>	that dorpped upside to 9811 first up target
<+ddoonie>	low of day
<+codehead>	did get a playable bounce at that wave target	13:51
<+szubaark>	tightening Stop
<+Maximus>	new lows ES
<+szubaark>	exit stop set ES @ 1035 «« paper »»
* +ddoonie	----[ ES Stop Moved TO 1036 ]----	13:52
<+AustinM>	1300 flat low	13:53
	1030 sorry
<+szubaark>	Covered all Short ES at 1035 --> + 1.5 «« paper »»
* +ddoonie	----[ Covered ES @ 1036 ]----	13:54
<MK>	anybody know of a fast price feed for the dow cash market? i have IB and it seems a little slow	13:56
<+silo>	Shorts YM @ 9817	13:57
<+AustinM>	mmm oil under 90 makes me feel good on the inside	13:58
<+silo>	Covered all YM Short @ 9785 --> + 32	14:01
<+AustinM>	"You don't have to do something illegal, to do something wrong"	14:03
	You got told!
<+silo>	haha
	fail
	:)
<+AustinM>	CEO FAIL
<+silo>	you're a young guy like me right?
	:D
	i can tell
<+AustinM>	22
<+rickf_>	:)
<+silo>	k i'm a few years older
	26
<+Maximus>	lol	14:04
<+AustinM>	i'm still paper trading because im out of ink and can't print the release papers so i can sign and fax haha
<+silo>	:P	14:05
* +Tintin	: back
<+szubaark>	Buys ES @ 1033 «« paper »»
<+Maximus>	man you guys are young
<+szubaark>	tightening Stop	14:06
<+rickf_>	< - young @ heart
<+AustinM>	ya you're telling me buck
<+Maximus>	lol.. kidding.. 22 here
<+szubaark>	exit stop moved to breakeven ES @ 1033 «« paper »»
<+AustinM>	If we open that trading room ill bring my TV and we can put some charts up on that
<+rickf_>	wow	14:07
	you dont shut a congresscritter up like that
	tho was nice to see :)
<+AustinM>	he's done it several times	14:08
<+szubaark>	Exited all Long ES at 1033.25 --> + 0.25 «« paper »»
<+silo>	Shorts YM @ 9776	14:09
	late post
<+szubaark>	Shorts ES @ 1028.50 «« paper »»
<+silo>	this one looks ot be the breakout
	lol
<+szubaark>	Covered all Short ES at 1031.50 --> - 3 «« paper »»	14:12
<+MK>	Long ES @ 1032 «« paper »»
<+szubaark>	Buys ES @ 1032.25 «« paper »»
<+AustinM>	2 people fired the day before bankrupty and paid out over 17 million as severence?	14:14
<+silo>	Covered 1/2 YM Short @ 9739 --> + 37	14:15
<+rickf_>	good job if you can get it
<+Maximus>	yes sir	14:16
<+AustinM>	Silo you're killin em on the YM today
<+rickf_>	yeah no kidding
* +Tintin	----[ shorts es @ 1030.25 ]----
<+szubaark>	Exited all Long ES at 1029 --> - 3.25 «« paper »»	14:17
<+MK>	anybody think we see -1000 today?
<+szubaark>	Buys ES @ 1030 «« paper »»	14:18
<+AustinM>	No
<@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>	Exited all Long ES at 1027 --> - 3 «« paper »»
	:(((
<+Maximus>	here we go	14:19
<+AustinM>	that would be more movement in the next 2 hours than has happened since open to noon today	14:20
<+silo>	Covered Remainder YM Short @ 9675 --> + 101
<+AustinM>	Nice job!
<+silo>	5x daily profit target reached
	:D
<+AustinM>	what time you trading?
	You should play Rick Ross - everyday im hustlin	14:21
<+silo>	hehe i just had a 12% return on capital :)
	for my account
<+AustinM>	Very nice
* +Tintin	----[ buys es @ 1021.00 ]----
<+szubaark>	Buys ES @ 1021.75 «« paper »»	14:22
<+Maximus>	hope this one works for ya Tintin
<+AustinM>	i think that was a cover from earlier?
<+Maximus>	i dont think so
	perhaps ?
	he said he was having probs with his script	14:23
<+AustinM>	ya i remember
<+silo>	gonna go upstairs real quick to get lunch
	be back in a few
<+szubaark>	Exited all Long ES at 1021.75 --> 0 «« paper »»	14:24
<+rickf_>	down 700 again
<+szubaark>	Buys ES @ 1021 «« paper »»	14:25
	trying to go Plus for day
<+Maximus>	hmm
<+AustinM>	silo what minute chart are you trading?
<+szubaark>	Widening Stop	14:26
<+Brutus>	http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={3b128 eac-9f02-4beb-81d5-8b34837c7723}
<+AustinM>	1.34 Euro nice	14:27
<+Maximus>	30-1 selling
	12-1 UVOL/DVOL	14:28
	huge
<+silo>	1,2min	14:29
<+Maximus>	think the FED is going to to be damned here to cut
	Long ES 1020	14:30
	out 1019 -1
	whoops
<+rickf_>	short 1016.50	14:31
	out 14.25 +2.25	14:32
<+Maximus>	man if we crack 1000
<+rickf_>	look out below
<+AustinM>	i need to increase my speed on the static dom, i missed that 10 YM move :(	14:33
<+rickf_>	part of me is kind of scared to trade right now -- too many games, bearish bias, and such ... one hiccup and we all get stopped out
<+ddoonie>	can someone tell me their calculated s2 and pivot point? i think my calc's are off	14:35
* NihabaAshi_away	is now known as NihabaAshi
<+Maximus>	on the ES?
<+AustinM>	What instrument?
<+ddoonie>	sorry yes ES	14:36
<+Maximus>	s2 = 1075 and PP = 1096
<+ddoonie>	yeah, calc's way off :(
<+rickf_>	jeez some of these options chains dont even have put strikes down this low
<+Maximus>	bullish engulfing on the 3 min ES	14:37
<+AustinM>	That's a weak engulfing
<+Maximus>	14:36 bar fwiw or if it holds
	true
	well, esp in this environment
<+AustinM>	but, its been worth something if it can stay above bear open on 2nd to previous candle	14:38
<+rickf_>	3% away from Dow circuit breakers kicking in
<+Maximus>	yup
<+AustinM>	and to think we'll be blamed :)	14:40
<+rickf_>	almost at LOD for the ES ... yeeeesh	14:41
	boom - down
<+Maximus>	man i remember when i first started, a 150+ point move in either direction on the INDU was BIG.. whoa.. now 3-400 point moves.. mehh
<+rickf_>	yeah no kidding	14:42
<@NihabaAshi>	Shorts ES @ 1016.50 -> large size
	6 only
<+rickf_>	i got into daytrading, ES was around 1400, ER2 was 800, YM around 14000
	these 500pt intraday swings are brutal
<+Maximus>	wild..
<@NihabaAshi>	trailing stop @ profit	14:43
<+Maximus>	i wasn't daytrading, but when i first got in was around 03/04
	but certainely remember the tech bust
	new Lows DOW	14:44
<+AustinM>	nice call nihaba	14:45
<+Maximus>	down flirting down 780
<+rickf_>	just did +2.25 scalp
	too fast to post :(
<@NihabaAshi>	Covered 2/3 ES Short @ 1010.50 --> + 6	14:46
<+rickf_>	nice niha
<+werner>	indd
<@NihabaAshi>	Holding 2 contract remainders
<+Brutus>	damm trading gonna finish early today
<+rickf_>	down 800 ym
<+Maximus>	there it is
	damn, check that HF list out	14:47
	ouch..
<+AustinM>	http://www.nasdaqtrader.com/Trader.aspx? id=CircuitBreaker
<+szubaark>	c'mon Bounce, i need the points
<+Maximus>	no break if after 2:30	14:48
	floor can fall out
<+AustinM>	unless 2,220 or greater decline
<+Maximus>	true
<+AustinM>	Will short ES @ 1010 flat	14:50
<+szubaark>	]Major Divergences since 2PM.. cant go down forever	14:52
<+AustinM>	well im looking for 2 ticks lol
<@NihabaAshi>	Covered Remainder ES Short @ 1014.75 --> + 1.75
<+AustinM>	Long 1015.75	14:54
	Covered at 1016.75
	i couldn't even type that fast enough
<+Maximus>	credit option spreads are WIDE	14:55
	go figure
	hmm and to think the short sale rule is still in effect	14:57
<+palmer>	where is kn	14:58
	i would love his thoughts
<+Maximus>	i think we will lift some into the close (retail and prop short covering) ahead into the FOMC events tomorrow	15:00
	FFF @ 100% chance of 50bps
	could be ugly if they sell right into the close though..	15:01
<+AustinM>	Long @ 1020.00.. Covered at 1021.00
* +ddoonie	----[ Shorts ES @ 1017 ]----
<+AustinM>	Short 1018 flat Covered 1017 flat	15:03
<dragon310>	i thought FOMC was end of oct?	15:04
<+estrader11>	S24
<+Maximus>	FOMC min out tomorrow
	and FOMC speech at 11am i believe
	long ES 1025.75	15:05
	platform froze ahh	15:06
	there we go
<@NihabaAshi>	Long ES @ 1027.50 -> small size
<+Maximus>	out ES 1027.75 +2
<@NihabaAshi>	1 only
	Exited ES Long @ 1025.50 --> - 2	15:07
<@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.
<+Maximus>	1027.50**
	+1.75
<@NihabaAshi>	Long ES @ 1027.50 -> small size	15:08
	2 only
<+estrader11>	out 28-4
<@NihabaAshi>	Exited all ES Long @ 1031.00 --> + 3.5	15:09
<+szubaark>	Exited all Long ES at 1033 --> + 12 «« paper »»	15:11
* NihabaAshi	is now known as NihabaAshi_away
<+szubaark>	Im done.. I BROKE MY RULES with that trade.	15:12
<+rickf_>	what'd you do?
<+ddoonie>	against the trend?
<+Maximus>	moved teh stop?
<+szubaark>	tried to pick bottom without CONFIRMATION and then WIDENING STOP based on Emotions not PRICE	15:13
<+Maximus>	ah
<+rickf_>	ahhh ... yeah i never ever ever change my stop
	then again i only have the catastrophic stop
<+Maximus>	never.. no matter what	15:14
	gettin the lift here
* +silo	is done for the day
<+szubaark>	thats why i wont go LIVE until i control all my Demons
<+silo>	szu.. i just sent yo umy pnl
	biatch :)
	haha
<+szubaark>	looking
<+Maximus>	enjoy silo, just dont let it go to your head ;)	15:15
<+silo>	hehe i know	15:16
<+AustinM>	will long 1042.50
<+silo>	i joke around with szu all the time
	:D
<+Maximus>	haha
<+silo>	usually behind the scence
	:D
<+szubaark>	silo, do i know you? :)
<+silo>	hehe
	he requests my pnl everyday	15:17
<+Maximus>	ah
<+szubaark>	13:36] > He is LIVE, just to confirm.
	lots of people ask me if silo is LIVE trading, YEs he is.	15:18
<+codehead>	ok, last major peak before dump was 9874--we just re-tapped it (YM)	15:20
	should be sell, but if mkt really washed out for bargain, could get strength into close, i'm too timid to short here	15:21
	i see a wave target at 9906 on upside
	9798 on down
<+AustinM>	there's your 9798	15:24
<+Maximus>	voltility pickin up	15:26
	could make 10k up by close YM	15:27
<+szubaark>	nice orchestreted,controlled rally into the close	15:29
<+Maximus>	retail+prop covering + fomc.. i dont think people want to get short into the close.. but anythign is possible
<+AustinM>	Im going to long YM @ 9965 to 9974	15:31
<pl2703>	...	15:36
<+AustinM>	Alright, eyes are starting to hurt, that's it for me today. Good luck to the rest of you	15:40
<Maximus>	Long ES 1057	15:47
<+Maximus>	Out ES 1059 +2	15:48
	10k YM	15:49
<+oaktree>	out all spy longs	15:56
<palmer>	tintin you would be up now on those long from this morning	15:58
<+rickf_>	ok guys out for the day .... see you tomorrow!	16:09
<+Maximus>	see ya guys
<+werner>	gn all	16:40
* +Tintin	: bye all	16:54
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	Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

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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

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