#FuturesTrades October 7th Tuesday 2008 Trade Log

Trade Posting Chat Log Info: My name is M.A. Perry (a.k.a. online as NihabaAshi - martial arts & Japanese Candlestick term) and I am the moderator of #FuturesTrades.

Simply, my job is to keep the peace and ensure #FuturesTrades is a useful community of traders from around the world that have gather in a virtual trading office.

In addition, I personally use the below chat log as feedback for critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading.  To maintain the usefulness of the below chat log, all of my trades were posted in real-time within 5 seconds after entry or exit unless otherwise noted in the log. 

  To read behind the scenes details about my trades posted below such as explanation of position size, stop management, chart interval choice et cetera...click here.

Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators). However, some of my trades are intuition via market experience in combo with many concepts from my rule based methodology.

  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: Tue Oct 07 00:00:00 2008Session Ident: #futurestrades
	Session Start: Tue Oct 07 09:33:22 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	09:33
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm
<rickf>	.
<pat255>	gm	09:34
<+rickf>	short es 1067	09:36
	out 1066 +1	09:37
	risky :(
<PapaJon>	gm all
<silo>	Shorts YM @ 10125	09:43
<@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.
<pdays>	Long ES @ 1066.75 «« paper »»
<+pdays>	Exited 1/4 ES Long @ 1075.25 --> + 8.5 «« paper »»	09:44
<+silo>	Covered all YM Short @ 10125 --> 0
	at breakeven
	oh boy	09:45
	hehe
<szubaark>	Shorts ES @ 1073.25 «« paper »»
<+silo>	didn't give it enough room
	:)
<@NihabaAshi>	Good morning all...I may need to reboot after a few trades because my ping to some servers is slower than normal	09:46
<+pat255>	gm N	09:47
<+szubaark>	tightening Stop
	exit stop moved to breakeven ES @ 1073.25 «« paper »»
<@NihabaAshi>	Shorts ES @ 1070.00 -> medium size
	4 only
<+szubaark>	Covered all Short ES at 1073.25 --> 0 «« paper »»	09:49
<@NihabaAshi>	Covered all ES Short @ 1072.00 --> - 2
	Shorts ES @ 1070.25 -> medium size	09:50
<+szubaark>	Shorts ES @ 1068.50 «« paper »»	09:51
	Covered all Short ES at 1064 --> + 4.5 «« paper »»	09:54
<Nesi>	nice Niha!	09:55
<+rickf>	nice szu	09:57
<+szubaark>	thnks
<@NihabaAshi>	Covered 3/4 ES Short @ 1059.25 --> + 11	09:58
<+szubaark>	Nice Niha.
<+rickf>	wtg
<+silo>	Long YM @ 9998
<+rickf>	i almost took the same entry as niha, just got distracted
<sav>	volatile stuff	10:00
<+silo>	Exited all YM Long @ 9985 --> - 13	10:02
	man should've took profits
	my ts slowed down a bit :(
<+szubaark>	this is fast action right now	10:03
<+sav>	too crazy for me wait till it slows down a bit
<+szubaark>	i was gonna Short, when i got to the mouse it dropped 3 points already LOL	10:04
<+rickf>	heh	10:07
	the VIX is under 50 ... oh, joy, happy days are here again
<+szubaark>	Buys ES @ 1057 «« paper »»	10:08
<+silo>	Long YM @ 9932
<+szubaark>	Exited all Long ES at 1057 --> 0 «« paper »»	10:09
	:(	10:10
<+silo>	Exited all YM Long @ 9965 --> + 33
<+szubaark>	this jumpy fast action is scaring me
<werner>	gm all	10:11
<+sav>	ha ha szu same here
<nqcruiser>	whats the symbol for er2 on OEC
<+silo>	go to charts	10:12
	then new
	then type in russels
	it's tf8 i think
<Brutus>	tfz8?
<@NihabaAshi>	Shorts ES @ 1058.00 -> Add	10:13
	added 1 only
	total of 2 now
	Covered ES Short @ 1060.00 --> + 8.25	10:14
	Loss of -2 on the add	10:15
<TraderG>	@ 10:13?
* Tintin	: hi all
<T-stop>	hey tin
<+silo>	on days like today... entries are everything
<+nqcruiser>	Silo there is no TFS Z8	10:18
	on OEC
<+silo>	tfz8	10:19
<+szubaark>	Shorts ES @ 1060.75 «« paper »»	10:20
<+silo>	Shorts YM @ 9975
* Kalle	[ long ES @ 60.0 ]
* +Kalle	[ out ES @ 61.0 +1.0 ]
<+silo>	Covered all YM Short @ 9990 --> - 15	10:21
<@NihabaAshi>	Shorts ES @ 1061.50 -> small size
	3 only
* +Kalle	[ out ES @ 62.5 +2.5 ]
<+silo>	Shorts YM @ 9984
* +Kalle	[ flat ES @ 60.5 +.5 stopped ]
<+szubaark>	tightening Stop	10:22
	exit stop moved to breakeven ES @ 1060.75 «« paper »»
	Covered all Short ES at 1060.75 --> 0 «« paper »»	10:23
<@NihabaAshi>	Covered all ES Short @ 1060.25 --> + 1.25
<+szubaark>	Buys ES @ 1063.75 «« paper »»	10:25
<+sav>	Long NQ @ 1409.75
<+silo>	Covered all YM Short @ 9999 --> - 15
<+sav>	Exited 1/2 NQ Long @ 1411.5 --> + 1.75
<+szubaark>	tightening Stop
	exit stop moved to breakeven ES @ 1063.75 «« paper »»
<+sav>	Exited all NQ Long @ 1419.75 --> + 10	10:26
<+szubaark>	tightening Stop	10:28
	exit stop set ES @ 1064 «« paper »»
<+rickf>	is it me or is volume light on the es now?	10:29
<+szubaark>	well, its sure jumpy as hell
	tightening Stop	10:30
	exit stop set ES @ 1064.50 «« paper »»
<+silo>	Shorts YM @ 10031
	Covered all YM Short @ 10047 --> - 16	10:31
<+szubaark>	Exited all Long ES at 1066 --> + 2.25 «« paper »»	10:32
<+Kalle>	if u call 3000 contracts per minute light...	10:35
<+silo>	Shorts YM @ 10026
<+szubaark>	Shorts ES @ 1065 «« paper »»
<AustinJM>	Good Morning	10:36
<+Maximus>	hey	10:37
<+sav>	Long NQ @ 1425.25	10:40
<estrader1>	long es 67
<+szubaark>	Covered all Short ES at 1067.25 --> - 2.25 «« paper »»
<+estrader1>	out 1/2 68
<+sav>	Exited all NQ Long @ 1423.25 --> - 2
<+estrader1>	out rest 66-1	10:41
<+szubaark>	Shorts ES @ 1063.75 «« paper »»
	Covered all Short ES at 1065.75 --> - 2 «« paper »»	10:46
	Buys ES @ 1066.50 «« paper »»
<+AustinJM>	szubaark, what criteria are you using to place your trades?	10:49
<+szubaark>	Price Action, Intuition
	its many variables, not just one thing
<+AustinJM>	What do you use for confirmation?
<+szubaark>	Exited all Long ES at 1063.50 --> - 3 «« paper »»	10:50
<+sav>	Shorts NQ @ 1417.00
<+szubaark>	Shorts ES @ 1062.75 «« paper »»
<+sav>	Covered 1/2 NQ Short @ 1415.00 --> + 2
* ddoonie	----[ Covered 1/2 ES @ 1064.25 ]----	10:51
<+szubaark>	like i said, many variables
<+sav>	Covered Remainder NQ Short @ 1416.75 --> + 0.25
<+szubaark>	needs to get out of this Chop area here	10:52
	tightening Stop	10:58
	exit stop moved to breakeven ES @ 1062.75 «« paper »»
* +ddoonie	----[ ES Stop Moved TO Breakeven ]----	10:59
<+Maximus>	wedge in ES	11:03
<+szubaark>	Covered all Short ES at 1062.75 --> 0 «« paper »»
<+sav>	Shorts NQ @ 1412.25	11:04
	Covered 1/2 NQ Short @ 1410.25 --> + 2
	Covered Remainder NQ Short @ 1412.00 --> + 0.25	11:05
<@NihabaAshi>	Shorts ES @ 1057.50 -> small size	11:08
	3 only
	poor trade entry :(
	Covered all ES Short @ 1058.75 --> - 1.25	11:09
	Long ES @ 1058.75 -> small size	11:11
	3 only
<+szubaark>	Buys ES @ 1059 «« paper »»
	Exited all Long ES at 1057 --> - 2 «« paper »»	11:12
	:((
<@NihabaAshi>	Exited all ES Long @ 1056.75 --> - 2	11:13
<+rickf>	short es 57
<+sav>	Shorts NQ @ 1408.25
	Covered 1/2 NQ Short @ 1406.25 --> + 2	11:14
<+rickf>	exit es b/e +0	11:15
<+sav>	Covered Remainder NQ Short @ 1408.00 --> + 0.25
<+rickf>	:(
<+szubaark>	Buys ES @ 1058.75 «« paper »»
<+rickf>	short es 57
	57.25
<+szubaark>	Exited all Long ES at 1055.25 --> - 3.5 «« paper »»	11:16
<+rickf>	exit 55.25
<+szubaark>	:((
	Shorts ES @ 1055.25 «« paper »»
<+rickf>	+2
<+silo>	Covered all YM Short @ 9948 --> + 78
<+szubaark>	creeper down move :((	11:17
<@NihabaAshi>	Shorts ES @ 1056.75 -> medium size
	5 only
* +ddoonie	----[ ES Stop Moved TO 1061 ]----
<@NihabaAshi>	Covered all ES Short @ 1055.50 --> + 1.25	11:19
* +ddoonie	----[ ES Stop Moved TO 1057 ]----	11:21
<+szubaark>	Covered all Short ES at 1051.75 --> + 3.5 «« paper »»
<+AustinJM>	Shift in demand, YM 12-08 contracts
<+silo>	Long YM @ 9896	11:24
<+Nesi>	good one , silo	11:26
<+rickf>	one of the better counter-trend entries nice!	11:27
<+AustinJM>	im waiting for confirmation
* +ddoonie	----[ Covered ES @ 1054.75_+10 ]----
<+AustinJM>	nice hammer line forming 10 min ym
<+silo>	Exited all YM Long @ 9923 --> + 27	11:28
	daily profit target reached
<+Nesi>	nice :)
<+AustinJM>	how far out are your stops silo?	11:29
<+silo>	usually 15 pts
	but i did widen teh stop for one or two of my trades today... namely that one big short earlier	11:30
<+Nesi>	silo, are u going to take a break? :)
<+silo>	'cuz i know i wanted to let it ride
	and say hi to my spouse?
	haha
<+Nesi>	lol
<+silo>	not yet	11:31
	maybe after the market
	Shorts YM @ 9924	11:34
	9921
	my mistake
	Covered all YM Short @ 9937 --> - 13	11:36
<+rickf>	:(	11:39
	short es 1055
	out 56 -1	11:40
* +rickf	thought that would happen :(
<+sav>	Long NQ @ 1406.5
<@NihabaAshi>	Long ES @ 1057.00 -> medium size	11:41
	4 only
<+silo>	Long YM @ 9938
<+sav>	Exited all NQ Long @ 1404.5 --> - 2	11:42
<+rickf>	short es 55
<@NihabaAshi>	Exited all ES Long @ 1055.00 --> - 2
	Long ES @ 1055.00 -> medium size	11:43
	4 only
<+rickf>	out 56.50 -1.5	11:44
	56.75 -1.75
	long es 58.25	11:45
	out 60.25 +2
<+AustinJM>	Long 1058.75 ES
<+rickf>	long es 60.50	11:48
<+silo>	Exited 1/2 YM Long @ 9970 --> + 32
<+AustinJM>	Exist ES @ 1061.25
<+rickf>	out 62.50 +2
<+silo>	Exited Remainder YM Long @ 9983 --> + 45
<+Nesi>	wow
<+silo>	that was a big shift on time and sales	11:49
	might retrace a little here
	maybe
<+AustinJM>	im thinking so too
<@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.
<+AustinJM>	volume isn't making me really excited
<+rickf>	agree
	glad i had limits on at entry or i'd have lost on that	11:50
<+AustinJM>	i'm not going to try to play it however
<@NihabaAshi>	Exited all ES Long @ 1061.75 --> + 6.75
<+AustinJM>	Nice long
<+rickf>	long es 1060
	2 only	11:51
	out 60.25 +.25	11:52
	stupid to chase
<+AustinJM>	ill long 1062 for 1 pt if it comes
	Price can run faster than you :)
<+rickf>	yeah fast tape today	11:53
<+AustinJM>	Silo, you're retrace call is playing out
	filled at 1062	11:54
<+silo>	could still go higher though... that was just a macro observation
	but resistance is up here
<+AustinJM>	stopped out at -.75 that was a dumb idea haha	11:55
	i thought the break passed upper body would squeeze 3/4 of pt but i was wrong
	what do you think about short at 1058.00?	11:56
<+rickf>	i wouldnt be short above 56
<+AustinJM>	apparently that worked	11:57
<+rickf>	actually 53-54
<+AustinJM>	was short 1058 flat to 1057
<+rickf>	near term resistance	12:00
	er support
	< - needs more coffee and lunch
	short es 1055	12:02
	early	12:03
	exit es 52 +3	12:04
	early in early out :(
	back in a bit
<+silo>	Long YM @ 9913	12:13
	Exited 1/2 YM Long @ 9936 --> + 23	12:18
	Exited Remainder YM Long @ 9935 --> + 22	12:21
<@NihabaAshi>	Long ES @ 1053.50 -> small size
	3 only
	Exited all ES Long @ 1052.75 --> - 0.75	12:23
<+szubaark>	Shorts ES @ 1049.50 «« paper »»	12:25
<@NihabaAshi>	Shorts ES @ 1049.00 -> medium size	12:26
	5 only
<+szubaark>	Covered all Short ES at 1044.75 --> + 4.75 «« paper »»	12:28
<@NihabaAshi>	Covered ES Short @ 1045.25 --> + 3.75	12:29
	Holding 1 contract remainder
<+szubaark>	Shorts ES @ 1042.75 «« paper »»	12:36
	tightening Stop	12:38
	exit stop moved to breakeven ES @ 1042.75 «« paper »»
	Volatility Increasing	12:39
<@NihabaAshi>	Covered Remainder ES Short @ 1039.75 --> + 9.25
<+szubaark>	Nice Niha.
	Covered all Short ES at 1042.75 --> 0 «« paper »»	12:40
	Bad Entry
<+sav>	Long NQ @ 1388.00
	Exited all NQ Long @ 1389.5 --> + 1.5	12:41
<+szubaark>	Shorts ES @ 1040.25 «« paper »»	12:46
<@NihabaAshi>	Shorts ES @ 1039.75 -> small size
	2 ibkt
	2 only
<+szubaark>	tightening Stop	12:47
	exit stop set ES @ 1040 «« paper »»
<@NihabaAshi>	A bounce back up (if it does)...will be strong
	:(
<+szubaark>	Covered all Short ES at 1040 --> + 0.25 «« paper »»
	thats second time in this range my Stop got picked :(
<codehead>	YM hit .628 pb of yesterday's bounce	12:48
<@NihabaAshi>	Covered ES Short @ 1038.50 --> + 1.25
	Got too jumpy for me...couldn't ride that bronco	12:49
<+szubaark>	its going down, but bucking off everyone on the way :(
	will just sit and watch
<@NihabaAshi>	It's a price action only the "patient" traders can exploit to the max.
	I'm not one of those types of traders :(	12:50
	On that note...time for lunch
<+silo>	should get a bounce soon
	would like to see it drop a little bit lower though	12:52
	Long YM @ 9784
	Exited 1/2 YM Long @ 9817 --> + 33	13:00
	Exited Remainder YM Long @ 9825 --> + 41	13:04
	totally forgot about FOMC :)	13:05
<+Brutus>	old news in these markets	13:06
<+T-stop>	Bernanke on	13:07
<+Maximus>	here we go
<+Brutus>	10/07/2008 13:08 *DJ Bernanke Signals Fed May Consider Lowering Rates	13:09
<+silo>	Shorts YM @ 9870	13:13
<+rickf>	bak	13:15
* +ddoonie	----[ Shorts ES @ 1045.25 ]----
<+silo>	Covered 1/2 YM Short @ 9827 --> + 43
<+szubaark>	Shorts ES @ 1042.75 «« paper »»	13:16
<+T-stop>	vn
* +ddoonie	----[ Covered 1/2 ES @ 1042.25 ]----
<+rickf>	ben on now and fomc minutes at 2 ... fun fun fun	13:19
<+silo>	i love it when price falls from figure to 99, 98,97,	13:20
	:)
	like 9800 to 9799
	it excites me for some reason
	lol
<+T-stop>	hehe
<+szubaark>	Covered all Short ES at 1042.75 --> 0 «« paper »»
	Shorts ES @ 1039.50 «« paper »»	13:21
* +ddoonie	----[ ES Stop Moved TO breakeven ]----
<+szubaark>	exit stop moved to breakeven ES @ 1039.50 «« paper »»
<+silo>	Covered Remainder YM Short @ 9761 --> + 109
* +ddoonie	----[ ES Stop Moved TO 1040 ]----	13:22
<+silo>	4x daily profit target reached
<+szubaark>	Unbelivable Volatility
* +ddoonie	----[ ES Stop Moved TO 1039 ]----
	----[ ES Stop Moved TO 1038 ]----
<+silo>	resistance for short here	13:24
	be careful
	but who knows... we might break below
	lol
<+rickf>	flirting with LOD on the ES
<AustinJM>	just pulled 25 ticks off of the TF!	13:25
<+silo>	2.5 pts?
	or 25 pts?
* +ddoonie	----[ ES Stop Moved TO 1035.25 ]----	13:26
<+AustinJM>	2.5 pts lol
<+silo>	ncie nonetheless
<+AustinJM>	wow its goni down hard
<+silo>	that's 250 bucks right there
	good job
<+AustinJM>	sure is
	thanks
<+szubaark>	thats secondtightening stop	13:27
	exit stop set ES @ 1037 «« paper »»
<+rickf>	short es 1030.50	13:28
	out 28.25 +2.25
<+AustinJM>	chart creep	13:29
<+szubaark>	Covered all Short ES at 1028.25 --> + 11.25 «« paper »»
* +ddoonie	----[ ES Stop Moved TO 1034 ]----
<+rickf>	finding ti hard to pull the trigger today
<+AustinJM>	that's probably not a bad thing
<+T-stop>	Ben done
<+AustinJM>	will be interesting to see if it moves back to last low	13:30
<+rickf>	yah ... today's been one of those "enter with ice in your veins" for me ... don't like that feeling, so it's keeping meon the sidelines. dunno why i feel that today
	good trades, but not good feeling, so to speak
<+ddoonie>	today is the kind of day where my style shines
<+szubaark>	im gonna slow down now as i feel im starting to lose focus
<+silo>	trend following?	13:31
	or what is it
<+rickf>	yeah i trend follow
* +ddoonie	----[ Covered ES @ 1032 ]----
<+ddoonie>	+ 14
<+AustinJM>	Long TFG @ 576.4 covered at 577.9 - 2 contracts	13:37
<+sav>	Long NQ @ 1381.5	13:38
<+AustinJM>	TF sorry not TFG
<+sav>	Exited all NQ Long @ 1384.5 --> + 3
<+Maximus>	i wonder if this speech will goto the FOMC minute release	13:39
<+AustinJM>	its Q&A with Ben
<+Maximus>	yupp
	should be a primetime special
<+AustinJM>	Short TF @ 578.3 covered @ 576.3	13:41
<+Maximus>	*DJ- NYSE Euronext-NYX CEO: Considering individual stock circuit breakers-DJ	13:42
	sheesh
<+AustinJM>	Long at 576.2	13:43
<+rickf>	thats one way to remove the short sale ban ....
<+T-stop>	Ben done with Q&A
<+rickf>	tempting short	13:44
	but @ intraday low .... eeeek	13:45
<+Maximus>	minutes @ 2
<+rickf>	or we just make our own new lows
<+AustinJM>	I have a feeling people are going to sell into minutes
	they did it into speech
<+Maximus>	downn 300 INDU.. yawn..
<+AustinJM>	haha
<+Maximus>	another regular day :)	13:46
	man going to be crying 'wheres the vol' when vix reverts to low teens.. getting mad about 50-90 point days
<+AustinJM>	haha, "market deteororating during fed chairman's speech"	13:47
<+rickf>	26.50	13:48
	out 25.25 +2
	short es
	backward typing
	am i
<+AustinJM>	quick and easy
<+Maximus>	lol
* +rickf	wanted ta get the #s out first, figured y'all knew which contract :)
<+Maximus>	mostly all ES going down here
	cept for silo	13:49
<+AustinJM>	I dare someone to call a bottom haha	13:50
<+silo>	?>
	oh wow	13:51
<+Maximus>	just making reference to contracts traded here.. rick said you all know what contract
<+silo>	lots of red lipsticks today
<+Maximus>	saying silo - trades YM
	lol
<+rickf>	:)
<+AustinJM>	YM is almost mirroring ES
<+silo>	oh i trade 2 contracts
	used to trade 1 contract er2
	so 2 contracts ym is about the same as 1 contract er2	13:52
	but with the benefits of being more flexible
<+Maximus>	meant the market contract, not the quantity =)
<+silo>	oh hehe
<Guest>	Long ES @ 1022.75 «« paper »»
<+Maximus>	so alot of er2 traders really ditched and didnt goto the TF
<+rickf>	yeah even niha's doing ES now ... used to be only er2	13:54
<+silo>	Long YM @ 9662 -> small size
<+Maximus>	yeah
<@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.	13:55
<+silo>	exit stop set YM @ 9662	13:57
	breakeven stop set in
<+T-stop>	Fed min @ :00
<+silo>	Exited all YM Long @ 9662 --> 0
<+AustinJM>	My lynard skynard song won't be done by then? What do i do?!
<+rickf>	"i'm on a hiiiighway to hell......"	13:58
<+silo>	pink floyd's "money!!!"	13:59
<+rickf>	news either priced in or its not if not, we go waaaay down
<+AustinJM>	Oil 86.5
	I hope news is priced in	14:00
	I'm not looking forward to $8 cheeseburgers	14:01
<+szubaark>	also 3pm Consumer credit
<+Nesi>	Long ES @ 1122.00 «« paper »»
<+szubaark>	that would be perfect timing for them to rally some of this downmove LOL
<+AustinJM>	ya, we are all thinking that
<+T-stop>	Bush on	14:02
<+silo>	hehe nesi screwed up his order price :)
<+T-stop>	sheesh
<+szubaark>	hehe
<+Nesi>	opps
	Long ES @ 1022.00 «« paper »»
<+AustinJM>	why when bush comes on TV dow goes up?
<@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>	you forgot to exit that one first	14:03
<+rickf>	that's the 'bush put'
<+silo>	now it's averaged up :) hehe
<+Nesi>	lol
	Exited all ES Long @ 1024.00 --> - 142.5 «« paper »»
	oops
<+Maximus>	hello	14:04
	lol
<+szubaark>	heheh
<+Guest>	Exited all ES Long @ 1124 --> + 101.25 «« paper »»
	1024
<+AustinJM>	Credit sit-ups
<+silo>	bush is a market oriented person hehe :)	14:05
<+Maximus>	lol
<+AustinJM>	You have to have a job to need a desk	14:06
<+szubaark>	Buys ES @ 1025 «« paper »»	14:07
<+rickf>	nice entry	14:08
<+Maximus>	massive chop
<+rickf>	looking long over 26.50
<+szubaark>	tight Stop on this
	exit stop set ES @ 1023 «« paper »»
	Protecting todays profits
<+rickf>	prolly 27
<+szubaark>	needs to go or im OUT	14:09
<+AustinJM>	lol check out YM
	nice ranging
<+szubaark>	i dont watch YM
<+AustinJM>	3 min chart, bars are almost all equal in length
<+szubaark>	Exited all Long ES at 1023.50 --> - 1.5 «« paper »»	14:10
	Chop Crap
<+AustinJM>	Short YM @ 9688
	2 contracts
	stop moved +2 B/E	14:11
<+rickf>	tight vol ... thinkign upside pop
<+AustinJM>	Exit YM @ 9668
<+Maximus>	right there with ya rick	14:12
	above 27.50
	ish
<+rickf>	yup
<+szubaark>	Shorts ES @ 1022.50 «« paper »»
<+AustinJM>	LMAO
<+rickf>	or not :)
<+AustinJM>	Securitize
<+szubaark>	Tight Stop
<+Maximus>	alot of small orders too
<+szubaark>	exit stop moved to breakeven ES @ 1022.50 «« paper »»
	lets see if they bust this low	14:13
<+rickf>	19.50
	1017.50
<+sav>	Shorts NQ @ 1356.25
<+rickf>	+2.25 on es short
<+szubaark>	tightening Stop	14:14
<+AustinJM>	boom
<+szubaark>	exit stop set ES @ 1022 «« paper »»
<+rickf>	sorry guys - fast tape is hard to type .... trying to give the essentials
<+AustinJM>	triple bottom YM 5 min chart
<+ddoonie>	still have 8 points to go to test yesterdays low
<+szubaark>	next target yersturday low
<+AustinJM>	New Lows, YM
<+rickf>	wow
<+szubaark>	Covered all Short ES at 1022.50 --> 0 «« paper »»
<+sav>	Covered all NQ Short @ 1353.25 --> + 3
<+szubaark>	Buys ES @ 1027.25 «« paper »»
<+ddoonie>	that was unexpected
<+Maximus>	wild swing
	big volume too	14:15
<+rickf>	long 26 out 28.26 +2.25
<+sav>	Long NQ @ 1365.00
<+szubaark>	its exoected, its called Ripping Stops
<+AustinJM>	i might short ES
<+sav>	Exited all NQ Long @ 1368.00 --> + 3
<+Maximus>	morgan stanley news.. mitsubushi deal is going through
<+sav>	that was quick
<+AustinJM>	Nice
<+rickf>	thank god ... am short MS puts	14:16
<+T-stop>	bush done
	at least on cnbc
<+Maximus>	just got that news about 30 seconds before it hit the wire.. nice
<+ddoonie>	szu you still in that?	14:17
<+AustinJM>	ya you did
	that was a nice 60 pt jump
<+rickf>	i had just closed that short and WHAM .... talk 'bout timing. whew
<+Maximus>	yup
<+szubaark>	yes still holding.. wont let them shake me out
<+ddoonie>	thats a wide stop :)
<+szubaark>	this is all games here
<+silo>	they might not just want to shake you... they are trying to kill u	14:18
<+Maximus>	bias is up .. i think
<+silo>	hahah :D
	just kidding
<+AustinJM>	im holding for a second and will trade... slightly more predictable swings
<+szubaark>	heres the pop after the shakeout..bastids
<+ddoonie>	interesting 18 handle 5 min bar :)	14:19
<+szubaark>	lol
<+ddoonie>	takes me hours to make my 15 handles in a trade, and only 2 minutes to lose it :)	14:20
<+silo>	Shorts YM @ 9729 -> small size
	1 contract only
	Covered all YM Short @ 9746 --> - 17
<+rickf>	dang, i never know when to enter on a pullback :(
<+silo>	:(
	stop hit
<+szubaark>	tightening Stop
	exit stop set ES @ 1027 «« paper »»	14:21
<+AustinJM>	silo i just got -15 on the ym
	its ok, it gave me over 650 today :)
<+silo>	good thing i only used 1 contract hehe
	just wanted to try out that short
<+AustinJM>	i was with you on that one
<+szubaark>	tightening Stop	14:22
	exit stop set ES @ 1030 «« paper »»
	i had to increase my Stop, so Im increasing my Target on this also
<+silo>	Shorts YM @ 9773
	1 contract only
<+szubaark>	also by increasing my Stop i broke my Rule so Ill be done for the day after this trade	14:23
	its a sign im getting sloppy and losing focus	14:24
<ItalianSharp>	szu, i find it admirable of you to keep logging in everyday to document your paper trades	14:25
<+ItalianSharp>	i have no idea how you can do it
	hopefully it'll help you in the long run
<+szubaark>	thanks.. helps me see all the screw ups over and over and over again	14:26
	Exited all Long ES at 1030 --> + 2.75 «« paper »»
<+AustinJM>	this guy thinks coals a good buy? Hmm, must be a Mccain supporter
<+silo>	Covered all YM Short @ 9714 --> + 59	14:28
	1 contract only though
<+rickf>	long es 36 out 38.25 +2.25	14:30
<+szubaark>	nice rick
<+rickf>	ty szu
<@NihabaAshi>	Ok...back from a long lunch and other personal stuff.	14:31
<+silo>	wb niha
<+Maximus>	wb niha	14:33
<+AustinJM>	short YM at 9743	14:34
	stop moved +1 b/e and filled	14:35
<+silo>	Shorts YM @ 9742	14:40
	1 contract only
	Covered all YM Short @ 9757 --> - 15	14:41
	Shorts YM @ 9764
	sorry for late post
	1 contract only
	Covered all YM Short @ 9690 --> + 74	14:47
	5x daily profit reached :)
<+rickf>	wtg
<+ddoonie>	time to double your trading size :)	14:48
<+silo>	nah... i have to prove to myself that i have completely weed out my bad habits	14:49
<+szubaark>	:)
<+silo>	still need more time
<+szubaark>	how much more?
<+silo>	i dont know...	14:50
<+rickf>	dont feel bad me too ... been trading small size for the past week or so because i got sloppy and stupid ... this is my penance to get me back where i need to be :)
<+silo>	i'm in no hurry to up my size
<+AustinJM>	rickf do you have a rule of max profit?
<+rickf>	per trade -- 2.25 points
<+AustinJM>	I meant for the day	14:51
	Say you make 500 bucks
<+silo>	but using small size after you reached daily profit target is a good way to stay safe while making more money in this market where it's extremely volatile, you are able to widen your stop too
<+AustinJM>	Then you walk away as to not risk giving any back
<+rickf>	yeah, i do at times :)
	i have a gneral idea ... but even on a BAD day I'll be happy to have obeyed Rule #1	14:52
	which says "don't lose money" and end the day in the green :)
<+silo>	my performance yesterday and today are about the same... but i placed 1/2 less trades than yesterday ... which is good	14:53
<+szubaark>	i think it all comes down to how the market is moving.. i have trouble on Chop, Range days
<+rickf>	creeper days kill me	14:54
	chop and range i will just avoid and go read a book or something
<+AustinJM>	no way!
	:( i told it to short at 9734 and it forgot about me and went to 915
	9715
<+rickf>	umm....congrats?	14:55
	short es 1029
<+AustinJM>	It never filled my order and kepy on trucking in, what would have been, my direction
<+sav>	Shorts NQ @ 1367.00
<+rickf>	exit 1027 +2
	oh
<+sav>	Covered all NQ Short @ 1364.00 --> + 3	14:56
<+T-stop>	consumer credit @ :00	14:58
<+AustinJM>	OCO orders set!	15:00
<+silo>	well guys i'm done for the day	15:03
	gonna relax and play some counter strike haha :)	15:04
<+rickf>	lol
	good trading silo	15:05
<+silo>	thanks
<+szubaark>	lol
<+silo>	it's good for releasing stress
	:D
<+sav>	Shorts NQ @ 1361.5
<+rickf>	grr where's all the bond money that normally bumps us up?	15:07
<+sav>	exit stop moved to breakeven NQ @ 1361.5
	Covered all NQ Short @ 1361.5 --> 0	15:11
	:(
	Shorts NQ @ 1360.5	15:17
<+rickf>	short es 1020
<+AustinJM>	Lots of blocks going through at 1025 and under
<+sav>	going to hold this one
<@NihabaAshi>	Shorts ES @ 1016.50 -> small size	15:18
	2 only
<+rickf>	exit 1016 +5
	damn
<@NihabaAshi>	weird entry on upticks from 1017.00 to 1017.50	15:19
<+AustinJM>	watching T&S nihaba?
<@NihabaAshi>	Covered all ES Short @ 1016.25 --> + 0.25
	I'm going to watch it now :)
	Especially after that bizaare entry
<+AustinJM>	haha, yea lots of short blocks, now they are turning around
<@NihabaAshi>	Be back later
<+rickf>	done for the day
<+AustinJM>	ciao
<+sav>	exit stop set NQ @ 1361.5	15:22
<+AustinJM>	LONG ES @1020. Shorts covering
<+rickf>	shorts are coming, not covering :(	15:24
<+sav>	exit stop lowered NQ @ 1361.25
<+AustinJM>	New Lows ES
	well i figured they would be covering into close but	15:25
	there's a lot of shorts out there :P
	watch the Time and Sales for ES
	wow	15:26
	tons of short blocks
<+sav>	Covered all NQ Short @ 1361.5 --> - 1	15:27
<+Tintin>	how can you see that these are shorts or covering buys ?
<+sav>	greed got the better of me
<+AustinJM>	i can't, i was assuming
<+Tintin>	ah ok
<+AustinJM>	given the amount of down turn
	lots of buying blocks coming through	15:28
	1025-30 was where i starte dseeing lots of bearish blocks
* +Tintin	----[ shorts es @ 1018.25 ]----	15:30
<+Maximus>	markets are extremely oversold	15:31
	but.. can stay extremely oversold
<+Tintin>	still having trouble with my script to post my covering	15:35
	hmmm
	i have found the reason ...
<@NihabaAshi>	Shorts ES @ 1018.75 -> small size	15:36
	3 only
<+Maximus>	Morgan stanley recieved regulatory clearance.. 9Bn from mitsubishi.. FED approved deal	15:37
<+sav>	Shorts NQ @ 1357.75	15:38
<@NihabaAshi>	Covered all ES Short @ 1015.50 --> + 3.25	15:39
<+rickf>	wtg	15:40
<+werner>	nice
<+szubaark>	Nice Niha.
<+AustinJM>	Wow, its amazing what a block of 425 can do!
* +Tintin	----[ shorts es @ 1014.75 ]----	15:43
	----[ covers es @ 1011.75 +3 ]----	15:44
<+AustinJM>	new lows
	ES
<+Tintin>	y, stops fishing	15:45
<+AustinJM>	possibly
	lots of block orders though
	wow lots of orders below bid
	and mroe	15:46
<+rickf>	just dumped my MS puts, short sale ban ends tomorrow
<+AustinJM>	Sure does
<+rickf>	thinking of adding to my SDS
	ban gets lifted, i think the banks will get hammered again	15:47
	not that they're not already
<+AustinJM>	haha, well they can't go much further
	below bid blocks	15:48
* +Tintin	: spx 1000.00 on the deck
<+AustinJM>	more blocks below bid
<+sav>	Covered all NQ Short @ 1343.5 --> + 14.25
<+AustinJM>	shorts piling
	1005.25	15:49
	this is some serious oversold territory	15:50
	Tomorrow is going to hurt if there is a run on the banks	15:51
<+szubaark>	IB keeps increasing Margin, lots of retail must be buying thinking it cant go lower, yet thy just creep it lower
<+AustinJM>	tons of volume at lower price levels	15:52
<+Maximus>	people want to get short ahead of the ban lift and such
	who knows
<+AustinJM>	might be a bottom
* +Tintin	----[ shorts es @ 1009.00 ]----
<+Maximus>	is that a mega-lot tintin? ;)	15:53
<+AustinJM>	LONG ES @ 1008.50 if it comes
<+sav>	done for the day good bye
<+AustinJM>	heh	15:54
* +Tintin	----[ covers es @ 1007.00 +2 ]----
<+Maximus>	nice short on the pullback
<+AustinJM>	haha stopped out
	looks like there might be a second chance to short again	15:55
* +rickf	added 25% more to my SDS
<+Maximus>	possible test 1000	15:58
<+rickf>	uh hoh...	15:59
<+Maximus>	look out below 1000
<+AustinJM>	haha
<+Maximus>	holding
<+rickf>	that's it....
<+Maximus>	gonee
<+AustinJM>	short es @ 1001.5
<+Maximus>	tape going wild
<+Nesi>	Long ES @ 1000.00 «« paper »»
	AMAZING
<+Maximus>	WOW	16:00
	look at that volume
<+rickf>	ef me.....
<+AustinJM>	WOO covered ES @ 999.75 AHHH sky is falling
<+Maximus>	holy ****
<+rickf>	what a time to be alive
<+Nesi>	we are watching history
<+Maximus>	118k contracts in 3 min lol
<+rickf>	yep
<+AustinJM>	you will not have truobels getting filled here
<+Maximus>	looks like 1000 will hold for the time being
<+AustinJM>	going to long 1000	16:01
	if it hits again
<+rickf>	they fought to keep it 1000+
<@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>	the highest volume print ive ever seen on the 3 min was 120k
	never ever above 150k WOW
<+AustinJM>	haha	16:02
	im reading 145k right now
<+Maximus>	1k again	16:04
<+AustinJM>	yup
	long at 1k
	boo!	16:05
<+Maximus>	heading out. take care all
<+rickf>	cya
<+AustinJM>	when is last time it was 1000?	16:06
<+rickf>	5 mins ago
	:)
<+AustinJM>	lol
<+estrader1>	lol
<+AustinJM>	what do you guys think, 1 more 1k retest before 4:30?	16:08
<+rickf>	nope	16:11
	ok guys - good trading, have a great evening see you tomorrow	16:12
<+AustinJM>	Au revoir everyone	16:13
<+werner>	gn all	16:35
* +Tintin	: bye all	17:00
<@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: Wed Oct 08 00:00:00 2008	22:10
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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)

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

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

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

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

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