#FuturesTrades October 22nd 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 22 09:26:03 2008Session Ident: #futurestrades
* Now	talking in #futurestrades	09:26
<@X>	[NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<rickf>	.
<silo>	Covered all YM Short @ 8788 --> 0	09:28
<PapaJon>	gm all	09:29
<drt>	gm	09:30
<rcox>	gm!
<+silo>	Long YM @ 8800	09:31
	2
	Exited all YM Long @ 8824 --> + 24	09:35
<@NihabaAshi>	Shorts ES @ 925.75 -> medium size	09:38
	4 only
<szubaark>	Shorts ES @ 925.25 «« paper »»	09:39
<werner>	gm all	09:40
<@NihabaAshi>	Covered all ES Short @ 926.50 --> - 0.75
<+rickf>	hi werner	09:42
<@NihabaAshi>	Shorts ES @ 926.25 -> large size
	10 only
<+werner>	hi rickf
<+szubaark>	Covered all Short ES at 927 --> - 1.75 «« paper »»	09:43
<@NihabaAshi>	Covered ES Short @ 928.25 --> - 2
<+silo>	Shorts YM @ 8774	09:44
<@NihabaAshi>	Shorts ES @ 928.75 -> large size	09:45
	10 only
<+rickf>	"only" :)
	i'll get there one day ... running 4 normally now
<+szubaark>	Shorts ES @ 928.50 «« paper »»	09:46
<+rickf>	looking short below 923, long over 933	09:47
	too much chop here for me
	no clear trend
<futurible>	Idem rick
<+rickf>	ldem?
<Nesi>	Long YM @ 927.25 «« paper »»	09:48
<+szubaark>	Covered all Short ES at 928.50 --> 0 «« paper »»
<@NihabaAshi>	Covered all ES Short @ 928.25 --> + 0.5
<+futurible>	I think as you,rick	09:49
<+rickf>	ah ok thx
	this is a cataonic open, surprisingly
<+szubaark>	we've been getitng a lot of these lately
<@NihabaAshi>	Shorts ES @ 927.25 -> large size	09:50
	10 only
<+szubaark>	Shorts ES @ 925.75 «« paper »»
<+rickf>	short es 925.50
<+silo>	Covered all YM Short @ 8718 --> + 56	09:51
<+szubaark>	Covered all Short ES at 920 --> + 5.75 «« paper »»
<+silo>	daily profit target reached
<+Nesi>	Long YM @ 920.00 -> Add «« paper »»	09:52
<+rickf>	out 20.50 +5
	profits hit
<@NihabaAshi>	Covered all ES Short @ 919.50 --> + 7.75
<+rickf>	jumped the gun early on that short, but was waiting for the move down after the open
<+silo>	gonna pick the bottom soon :)	09:53
<+rickf>	VIX at 64 up 11	09:58
<+szubaark>	Shorts ES @ 920.25 «« paper »»
	tightening stop	09:59
	exit stop moved to breakeven ES @ 920.25 «« paper »»
<+rickf>	short es 920
	out 917 +3	10:00
<+szubaark>	Covered all Short ES at 920.25 --> 0 «« paper »»
	too jumpy
<@NihabaAshi>	Shorts ES @ 917.25 -> small size	10:01
<T-stop>	vix spiked to 81 just after the open then dropped 20, crazy
<@NihabaAshi>	3 only
<+szubaark>	shook me out :((
<+rickf>	short from 15.50	10:03
<@NihabaAshi>	Covered all ES Short @ 913.75 --> + 3.5
<+rickf>	out es 13.50 +2	10:05
	creeper downtrend	10:06
<+szubaark>	yup, had some good entries but they pulled back to shake me out	10:07
<+rickf>	its either use tight stops or give big stops @ time for the trade to develop - not a fun choice :)	10:08
	for some reason my charts 'feel' better today than the past 2 days, and i'm getting far better fills at OEC too. weird	10:09
<+silo>	OEC has always given me nice fills :)
<+rickf>	short es 913
	out 915 -2	10:10
<+T-stop>	what do you mean better fills
<+silo>	Long YM @ 8659
<+rickf>	less slippage
<+silo>	one only
<+szubaark>	Buys ES @ 917.25 «« paper »»
<+T-stop>	not usually slippage on es, at least here	10:11
	ym yes
<+rickf>	yea i know - as i said, was very weird
<+T-stop>	ym nutzo
<+szubaark>	Exited all Long ES at 914.50 --> - 2.75 «« paper »»	10:12
<+silo>	Long YM @ 8657 -> Add
	Exited all YM Long @ 8652 --> - 12	10:13
<+szubaark>	Shorts ES @ 916 «« paper »»
	man this is jumpy	10:14
* Tintin	: hi al
<+silo>	going to be very cautious
	:)
	i guess that long worked.. i got out early hehe
	oh well
<+szubaark>	Covered all Short ES at 919.75 --> - 3.75 «« paper »»	10:15
	Shorts ES @ 918.25 «« paper »»	10:16
	Covered all Short ES at 921.50 --> - 3.25 «« paper »»
	gezz	10:17
<+silo>	hehe now i'm regretting getting out haha
* +Tintin	----[ shorts es @ 922.00 ]----
	----[ shorts gbl @ 116.36 ]----	10:19
	----[ covers es @ 919.00 +3 ]----	10:22
<pat255>	vn	10:23
<+szubaark>	Shorts ES @ 917.50 «« paper »»
<@NihabaAshi>	Shorts ES @ 916.75 -> small size	10:26
	3 only
	flobbed my entry from much higher...
	Got caught doing too much overanalysis
	trailing stop @ profit	10:28
* +Tintin	----[ shorts gbl @ 116.40 avg in ]----
<@NihabaAshi>	Covered all ES Short @ 915.25 --> + 1.5	10:29
* +Tintin	----[ buys tf @ 514.2 ]----
* NihabaAshi	is now known as NihabaAshi_away	10:30
<+szubaark>	Covered all Short ES at 917.50 --> 0 «« paper »»
	frikin came right back and got me
<+rickf>	EIA at :35	10:31
* +Tintin	----[ covers tf @ 515.2 +1 ]----	10:32
<+szubaark>	Shorts ES @ 916.75 «« paper »»	10:35
	Covered all Short ES at 919.50 --> - 2.75 «« paper »»
<+Nesi>	Long YM @ 920.00 -> Add «« paper »»	10:36
<MK>	Long ES @ 922.5 «« paper »»	10:37
<+rickf>	aaaand we're back trying to punch thru 923	10:38
<+silo>	Long YM @ 8726	10:40
	2
<+szubaark>	Shorts ES @ 921.25 «« paper »»	10:43
<+MK>	Exited all ES Long @ 923 --> + 0.5 «« paper »»	10:44
* +Tintin	----[ shorts es @ 921.50 ]----	10:45
<+silo>	Exited all YM Long @ 8699 --> - 27
	:\
	Long YM @ 8705	10:46
	back in
	2
<+szubaark>	Covered all Short ES at 925 --> - 3.75 «« paper »»	10:48
	Buys ES @ 925.75 «« paper »»
	GO!!!!!!!
<+silo>	Exited 1/2 YM Long @ 8760 --> + 55
<+szubaark>	sneaky frikin action
	-
* *!*geisebhd@80.246.0.90	is not in ignore list	10:50
	-
<+pat255>	y
* +Tintin	----[ covers gbl @ 116.32 +0.08 all out ]----
<+silo>	Exited Remainder YM Long @ 8750 --> + 45	10:51
<+szubaark>	Exited all Long ES at 925.75 --> 0 «« paper »»
* +rickf	caught +3.5 on that break thru of 924
<+rickf>	and with that i am off to the gym - back later
* NihabaAshi_away	is now known as NihabaAshi
<+szubaark>	Shorts ES @ 923.25 «« paper »»	10:52
	Covered all Short ES at 927.25 --> - 4 «« paper »»	10:54
<+MK>	Shorts ES @ 927 «« paper »»
<+szubaark>	damn
	Buys ES @ 927.50 «« paper »»
	go!!!!!!!
<+silo>	szu has lost his cool :)	10:55
	hehe
<+szubaark>	yea 6 frikin Stops in a row
<+silo>	nq HOD
<+MK>	Covered ES Short @ 929.5 --> - 2.5 «« paper »»
	Reverse and Enter Long ES @ 929.5 «« paper »»
<+szubaark>	Exited all Long ES at 924.25 --> - 3.25 «« paper »»	11:01
	:((((((((
	Shorts ES @ 924.25 «« paper »»
<+MK>	Long ES @ 924.25 -> Add «« paper »»	11:02
<@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.	11:03
<pdays>	Shorts YM @ 8759
<+pdays>	Covered all YM Short @ 8724 --> + 35	11:04
<+MK>	Long ES @ 922.5 -> Add «« paper »»
* +Tintin	----[ covers es @ 920.25 +1.25 ]----	11:07
	----[ shorts gbl @ 116.49 ]----	11:09
	----[ buys gc @ 746.7 ]----	11:12
	----[ covers gc @ 748.3 +1.5 ]----	11:14
<+pat255>	Tin is all over the place ..geez trading everything
* +Tintin	----[ shorts gbl @ 116.56 avg in ]----	11:18
<+Nesi>	923 ES probably support area,,,imho
* +Tintin	: prepare for a nice gbl selling
<szubaark>	Covered all Short ES at 924.25 --> 0 «« paper »»	11:19
<+pat255>	gbl? pound
<+szubaark>	Buys ES @ 925.75 «« paper »»
	Exited all Long ES at 922.50 --> - 3.25 «« paper »»	11:21
	Shorts ES @ 920 «« paper »»	11:22
<@NihabaAshi>	Shorts ES @ 920.00 -> small size	11:23
	1 only
<+szubaark>	uh huh
<@NihabaAshi>	Covered ES Short @ 922.00 --> - 2	11:25
	Shorts ES @ 921.25 -> small size
<+szubaark>	frikin jumpy stuff like Friday and Monday	11:28
<@NihabaAshi>	Covered ES Short @ 921.50 --> - 0.25	11:31
<+szubaark>	Covered all Short ES at 923 --> - 3 «« paper »»	11:32
	geezzz
<@NihabaAshi>	Price action about to get very jumpy\	11:33
<+szubaark>	tough day for me.. Low Volatility Chop crap	11:34
	we starting to get more and more days like this now :(((	11:35
<+silo>	Shorts YM @ 8708
<@NihabaAshi>	Shorts ES @ 919.75 -> small size	11:36
	3 only
<+silo>	8632 could get tested
<+szubaark>	Shorts ES @ 918.25 «« paper »»
<+silo>	should provide a good short here
<+szubaark>	look at all the Chop we had to go thru to break this..unbelievable	11:37
<+silo>	Covered all YM Short @ 8672 --> + 36	11:38
<+szubaark>	i had Short entry as high as 924 BUT the Chop kept taking me OUT
<+silo>	could keep goign lower a bit more
	but i just reached 2x daily profit
	so dont want to hold through a possible bounce
<@NihabaAshi>	Covered all ES Short @ 918.50 --> + 1.25	11:39
<+szubaark>	they going lower in a 3PT CHOP downchannel, its gonna be a LONG day
<+silo>	plus low volatility, so exiting fast and not living half behind and let it go breakeven
<nqcruiser>	took 2 pts on es
<+szubaark>	Covered all Short ES at 021.25 --> + 897 «« paper »»	11:42
	Covered all Short ES at 921.25 --> - 3 «« paper »»
	9 frikin Stoputs in a row.. taking a break from this crap
* szubaark	is now known as szubaark_away
* +Tintin	----[ buys es @ 925.00 ]----	11:44
	----[ covers es @ 927.00 +2 ]----	11:46
<+rickf>	back	12:00
<traderguy>	gm	12:04
<+rickf>	shoot i come back and the past hour all my candles have looooong wicks :(
	bleh
* +Tintin	----[ buys es @ 921.75 ]----	12:10
<+rickf>	neurotic tape right now	12:12
	< - sitting on hands
* +Tintin	----[ covers es @ 922.75 +1 ]----	12:13
<AustinJM>	Good Afternoon	12:17
<+rickf>	hey austin	12:19
<+silo>	wow	12:22
<+AustinJM>	short YM @ 8784	12:25
<+szubaark_away>	Buys ES @ 929.25 «« paper »»	12:27
<+silo>	Shorts YM @ 8781	12:28
	one only
	Shorts YM @ 8774 -> Add
<+szubaark_away>	Exited all Long ES at 926 --> - 3.25 «« paper »»	12:30
	:((((((((((((	12:31
<+silo>	Covered all YM Short @ 8758 --> + 39	12:32
<+szubaark_away>	Buys ES @ 926 «« paper »»	12:36
<traderguy>	Shorts ES @ 925.00 «« testing »»
<+traderguy>	Covered all ES Short @ 925.50 --> - 0.5 «« testing »»	12:37
<+rickf>	yawn	12:41
<+szubaark_away>	Exited all Long ES at 924.50 --> - 1.5 «« paper »»	12:42
	Buys ES @ 925.75 «« paper »»	12:45
	trying AGAIN
<AustinM>	szu you ever take a lunch?
<+szubaark_away>	yes.. just today im down Huge trying to recup some losses :(	12:46
<+AustinM>	well, i think 2 more companies on the dow have to report today and a handful of others in the ES	12:47
<+szubaark_away>	Exited all Long ES at 923.75 --> - 2 «« paper »»
	Shorts ES @ 921.50 «« paper »»	12:48
* codehead_afk	is now known as codehead	12:52
<+rickf>	yeesh	12:53
	fightin for ticks
<+silo>	Shorts YM @ 8753	12:54
	one only so far
<+szubaark_away>	this is as bad as it gets
<+silo>	Shorts YM @ 8750 -> Add	12:55
<+rickf>	szu will scream "TANK" so I will scream "TREND!" :)
<+silo>	Covered all YM Short @ 8755 --> - 7	12:56
	gonna be safe	12:57
	and wait
<+szubaark_away>	Covered all Short ES at 925.75 --> - 4.25 «« paper »»
	Buys ES @ 925.50 «« paper »»
<+silo>	Shorts YM @ 8754	12:58
	one only so far
	Shorts YM @ 8746 -> Add
<+traderguy>	Shorts ES @ 923.50 «« paper »»
	Covered all ES Short @ 922.00 --> + 1.5 «« paper »»
	not yet there !	12:59
<+szubaark_away>	Exited all Long ES at 921.50 --> - 4 «« paper »»	13:00
	DAMn
	Shorts ES @ 921.75 «« paper »»
	TANK!!!!!!
<+silo>	Covered 1/2 YM Short @ 8713 --> + 33	13:01
* +Tintin	----[ covers gbl @ 116.50 +0.06 all out ]----	13:02
<+silo>	Covered Remainder YM Short @ 8699 --> + 55
	3x daily profit reached
<+rickf>	+5 on that last drop = sorry, too fast to post :(
<+traderguy>	silo, daily target is points or $ based?	13:03
<+silo>	$ based
<+traderguy>	thx	13:04
<+werner>	nice rickf
<+rickf>	ty
<+traderguy>	nice silo
<+silo>	thanks :)
<+traderguy>	Long ES @ 919.50 «« 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.	13:06
<+traderguy>	Exited all ES Long @ 920.50 --> + 1 «« paper »»	13:07
	crap pa
<+AustinM>	ya his is money based, he's greedy :P
<+traderguy>	maybe so, personal opinion $ based plays games on the mind!	13:08
<+AustinM>	Agreed	13:09
<+traderguy>	want to see it breakdown throu 917.50
	Shorts ES @ 917.00 «« paper »»	13:10
<+rickf>	short 918 75	13:11
	out 917.50 +1.25	13:12
<+traderguy>	Covered all ES Short @ 917.50 --> - 0.5 «« paper »»
<@NihabaAshi>	Shorts ES @ 918.25 -> small size
	3 only	13:13
	Covered all ES Short @ 916.50 --> + 1.75	13:15
	:(
	tighten my stop "too soon"
<+rickf>	short es 18.50 exit 16.50 +2	13:16
<+traderguy>	Shorts ES @ 913.50 «« paper »»
	Covered all ES Short @ 915 --> - 1.5 «« paper »»	13:17
	time to stare at the sky	13:18
<+silo>	looking for shooting stars?	13:19
<+traderguy>	falling hammers!
	and nail some discipline into me	13:20
	Shorts ES @ 916.00 «« paper »»	13:21
	got to stay below 17.50 otherwise my trade is toast	13:22
* NihabaAshi	is now known as NihabaAshi_away
<+traderguy>	exit stop moved to breakeven ES @ 916 «« paper »»	13:23
	Covered all ES Short @ 911.00 --> + 5 «« paper »»	13:25
	Long ES @ 912.50 «« paper »»	13:28
	Exited all ES Long @ 913.50 --> + 1 «« paper »»	13:29
	Shorts ES @ 911.50 «« paper »»	13:30
	Covered all ES Short @ 913.00 --> - 1.5 «« paper »»	13:31
<@NihabaAshi_away>	Shorts ES @ 910.75 -> small size	13:32
<+traderguy>	got on the wrong bus
<@NihabaAshi_away>	3 only
* NihabaAshi_away	is now known as NihabaAshi
<+traderguy>	Niha, how do you toggle the away thing?
* AustinM	is now known as AustinJM-Test	13:33
<+AustinJM-Test>	with /nick	13:34
<+traderguy>	thx Austin
<+AustinJM-Test>	Oil was below 70/bbl at lunch
<@NihabaAshi>	trailing stop @ profit	13:35
<+silo>	good short there.. missed the entry
<@NihabaAshi>	Covered all ES Short @ 907.50 --> + 3.25	13:37
	Be back later...got too many family distractions over the past hour or so.	13:40
* NihabaAshi	is now known as NihabaAshi_away
<tomis170>	Hi	13:44
<+silo>	Long YM @ 8648	13:53
	1 only so far
	Long YM @ 8653 -> Add	13:54
	Exited 1/2 YM Long @ 8640 --> - 13	13:56
<+szubaark_away>	exit stop set ES @ 912.50 «« paper »»	13:57
<+silo>	Long YM @ 8654 -> Add	13:58
<+szubaark_away>	trying to retrace HARD
	Covered all Short ES at 912.50 --> + 9.25 «« paper »»
<+silo>	Exited all YM Long @ 8654 --> + 6	14:01
	could've exited earlier but didn't	14:02
	oh well
	was hoping for a bigger move
<+AustinJM-Test>	thats only happened to me 400 times
<+szubaark_away>	Shorts ES @ 912.25 «« paper »»
<+silo>	:P
* AustinJM-Test	is now known as AustinJM
<@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>	Long YM @ 8672	14:03
	1 only now
	Exited all YM Long @ 8658 --> - 14	14:04
	oh well... wasn't meant to be
	see my previous few trades?	14:07
	when i lose, i try to lose on only 1 contract
	that's the beauty of scaling in :)
<+AustinJM>	True
<+silo>	Shorts YM @ 8616	14:12
	one only
	Covered all YM Short @ 8646 --> - 30	14:15
	one only
<+szubaark_away>	crappy action all day	14:16
<+silo>	-150 bucks
	thought we were going to make new low lol
	:)
<+szubaark_away>	we will not until you get shaken out LOL
<+rickf>	murphys law of trading
<+szubaark_away>	its a doggy dogg world
<+AustinJM>	murphys law of trading, amen	14:17
<+rickf>	and we're wearing bacon pants
<+szubaark_away>	lol
<+werner>	long time no see kn-es	14:18
<+szubaark_away>	Covered all Short ES at 911.25 --> + 1 «« paper »»
<+rickf>	he's retired now lol	14:19
<+werner>	lol :)
	or broke..lol	14:20
<+szubaark_away>	loooll
<+rickf>	doubt that	14:21
* +Tintin	----[ buys es @ 911.50 ]----
<+werner>	me too rickf
<+szubaark_away>	he NEVER showed us his real account statment, so i take it all with a grain of salt
* +Tintin	----[ covers es @ 913.50 +2 ]----
<+szubaark_away>	Buys ES @ 914.25 «« paper »»	14:22
<+werner>	indd you never know szu
<intowin>	he sounded 13yrs old to me	14:23
<+werner>	lol
<+silo>	he is indian... so perhaps that's a language barrier
<+intowin>	hehe
<+rickf>	who knows	14:25
	he sounded competent and detail oriented to me
<+werner>	yep	14:26
<+AustinJM>	I go Live tomorrow :)
<+rickf>	woot	14:27
<+silo>	:P
<+szubaark_away>	looks like they want to spike this up	14:28
<+rickf>	bond money between 230-250
	usually gives a pop
<+AustinJM>	what exactly is "bond money"
<+rickf>	but each day...who knows
<+AustinJM>	When they auction off bonds?
<+rickf>	money coming out of the bond market
	has to be parked somewhere overnight
	tend to go into equities, ie buyers
<+AustinJM>	why does that happen between 2:30-2:50?	14:29
<+rickf>	bond market closes
<+AustinJM>	oh
<+rickf>	2:30 i think
<+AustinJM>	might go into northrop and GE
	they were up today on earnings
<+silo>	Long YM @ 8686
	one only	14:30
	Exited all YM Long @ 8673 --> - 13	14:31
	Shorts YM @ 8660
	2
<+szubaark_away>	Exited all Long ES at 911 --> - 3.25 «« paper »»	14:32
	Sneaky
	Shorts ES @ 911 «« paper »»
<+AustinJM>	Better not be a revenge trade with 2 contracts silo
<+szubaark_away>	this market is nuts today
	TANK!!!!!
<+silo>	of course
	revious ones were only 1 only ... so i'm cool :)
<+rickf>	waiting for BRK-B to be under 3900/sh then plan to start a position there	14:33
<+silo>	might see low of day possibly ... just a guess though	14:34
<+szubaark_away>	sneaky pop to get Stops..bastids	14:36
<+rickf>	below 906 lookout below?
<+szubaark_away>	probobly chop to death before that LOL
	moving stop..CHOOPPPPPP	14:38
	exit stop moved to breakeven ES @ 911 «« paper »»
<+rickf>	will wait for a real trend to start --- below 905 or above 917
	otherwise just whipsawin'
<+szubaark_away>	they waiting for the right moment to dump it, when we least expect it	14:40
<+silo>	Covered 1/2 YM Short @ 8596 --> + 64
	Covered Remainder YM Short @ 8609 --> + 51	14:45
<+AustinJM>	Nice silo
<+silo>	win on 2, lose on 1	14:46
	:)
	that's why i like scaling in
<+AustinJM>	unless you lose on 3
<+silo>	you go in with one.... if it retraces and fail, good place to add another	14:47
	if it keeps going down... you could always catch a retracement and get add
	however if it fails right away, you only lose with 1 contract
	and you can widen the stop by 2x if you really want to stay in, and it'll be essentially losing a regular 2 contract trade with regular stop
	gives you mroe time to manage	14:48
	Shorts YM @ 8596	14:49
	one only
	will not add
	greedy trade	14:50
	:)
	also it's becasue i want to see we make a significant low
	so if we get a big move... 1 will be enough
<+szubaark_away>	i wish this downward Volatility would pick up as on low Volatility they always can shake u out
<+silo>	this is a very cool song:	14:51
	http://www.youtube.com/watch?v=TWdv6irTW WI&feature=related
	also if we break d own significantly here... we will probably see a creeper downtrend	14:52
	so would love to hold one contract through it ... since i wont be getting much signals probably
<+rickf>	if es breaks 900 i think sharp drop down, not creeper
<+silo>	but looks like it wants up :)
<+szubaark_away>	that last pullback at 2:10 was nasty to get Stops above	14:53
<+AustinJM>	I dont if people are necessarily buying up stops. i just think that there was a group of individuals who thought there might have been a bottom, but were really wrong and that slight retrace brought out more sellers
<+silo>	also i'm sure some investors and firms are starting to buy stocks now	14:55
<+szubaark_away>	here we go 900	14:56
	c'mon just geth there	14:57
<+silo>	Covered all YM Short @ 8616 --> - 20	14:58
	one only
	:P
<+AustinJM>	anyone trade tick charts?
<+rickf>	ye[	14:59
	yes
<+szubaark_away>	Covered all Short ES at 907.50 --> + 3.5 «« paper »»	15:00
	Impossible to get more then 5 points in this chop
<+AustinJM>	5 pts is pretty good szu!
<+szubaark_away>	not if u ate 15+ 3-4 PT Stops all day :(	15:01
* NihabaAshi_away	is now known as NihabaAshi
<+szubaark_away>	you need GOOD VOLATILITY to let your Profits run.. othwerwise that saying is MISLEADING to new traders	15:02
<+AustinJM>	im watching 3 min and 320 tick YM
<+rickf>	i use 688t ES	15:04
<+silo>	Shorts YM @ 8930	15:05
	Shorts YM @ 8626 -> Add
	will we get a big nice drop... that's the question
<+AustinJM>	Long YM @ 8628
<+rickf>	so close to 900 ... i dunno, prolly a biiiig fight
<+AustinJM>	i have a feeling its going to drop	15:06
	a whole lotta red on different charts
<+szubaark_away>	Shorts ES @ 905 «« paper »»	15:07
	trying AGAIN	15:08
<@NihabaAshi>	Shorts ES @ 905.00 -> small size
	3 only
<+AustinJM>	ya baby!
<@NihabaAshi>	Had to market in after not getting a fill
<@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.	15:09
<+szubaark_away>	:((
<@NihabaAshi>	Covered all ES Short @ 707.00 --> + 198	15:10
<+AustinJM>	wow nice
<@NihabaAshi>	ooops
<+AustinJM>	;-)
<@NihabaAshi>	Covered all ES Short @ 907.00 --> - 2
<+silo>	wow
	crazy action
	that was fast right there
<+szubaark_away>	WHIPSAWS!!
<+AustinJM>	ya i should have taken rpofit
	i was up +32 pts
	now i was -10 back up to +9
<@NihabaAshi>	It knows I wanted a 907.75 Short :)	15:11
<+rickf>	scared to go short this close to 900	15:12
	have to break that before i feel ok
<+szubaark_away>	hard to time entries as its so whippy
<+AustinJM>	Exit YM @ 8607
<@NihabaAshi>	Shorts ES @ 902.75 -> medium size	15:13
	4 only
<+AustinJM>	damn, moved my TP closer and there it goes
	way passed it
<@NihabaAshi>	chasing
<+silo>	Covered 1/2 YM Short @ 8590 --> + 36	15:14
<@NihabaAshi>	Covered all ES Short @ 900.50 --> + 2.25	15:15
	:(
<+AustinJM>	well you chased and won, 2 and a quarter isn't bad!	15:16
<@NihabaAshi>	Should'uv been a 7 pointer
<+AustinJM>	oo, well when you look at it that way
<+silo>	Covered Remainder YM Short @ 8590 --> + 340
<+szubaark_away>	no follwothru, time to retrace this downspike LOL
<+silo>	wtf
<@NihabaAshi>	That no fill was weird
<+silo>	oh i see
<+AustinJM>	Was it a Limit Niha?
<+silo>	my short add number was wrong
<@NihabaAshi>	Yeah
<+AustinJM>	Hmm, guess they couldn't fill you at your price or better	15:17
<@NihabaAshi>	I usually don't use them in this situation but still was weird I didn't get the fill
	I prefer to Short on upticks and go Long on downticks with market orders
<+silo>	3x daily profit reached	15:18
	meant to hold the second half longer
	but changed my mind :\
	YM 8480 is resistance
	support i mean
<+AustinJM>	im taking a screen shot of this poorly exited trade and posting to forum	15:19
<Bambam-77>	pos trgt is 93.25	15:20
<+Bambam-77>	they front ran the 901 for many bounces	15:21
	no on stepping up to the plat to buy it up yet
	protect short	15:22
<+AustinJM>	tick charts flattening around 8550 YM	15:23
<+szubaark_away>	Covered all Short ES at 901.50 --> + 3.5 «« paper »»	15:26
	Shorts ES @ 896.25 «« paper »»	15:28
	bastids pullback to shake me out	15:29
<+silo>	this is exactly like i said	15:30
	once we break and have a convincing breakdown
	we will trend down with less chance for a new entry :)	15:31
	gonna pick bottom soon
<+szubaark_away>	i had some great entries today, its just low volatility they pullback to whack ya
	exit stop moved to breakeven ES @ 896 «« paper »»
	would love to see a 20pt RED WRB candle now to put me BREAKEVEN on day LOL	15:32
<+silo>	Long YM @ 8499
	one only
	might go down still though
<+werner>	wow wow
<+silo>	this is not where i normally would pick
<+rickf>	lol
<+silo>	this is a strong support right above it
<+szubaark_away>	if they hit my Stop im done for day..im done..too exhausted from this price action	15:33
<+silo>	but i dont want to miss this pullback so...
	hehe
<+szubaark_away>	u walking in front of a freight train
<+silo>	Exited all YM Long @ 8487 --> - 12	15:34
<+werner>	es 7% down ...pfff
<+szubaark_away>	i used to do it a lot when i started..trading that Divergence Indicator crap LOL
<+silo>	will wait for proper pick area
	one contract only on that last one
<+szubaark_away>	hahaha..they dropping it now..EVERYONE get SHort	15:35
<+silo>	hmmm with support turned resistance sitting right on top of the bottom.... not much room for a bounce... i wonder if it's worth the risk hehe
<+AustinJM>	im glad i recorded that last down trace, im going to replay that a couple times and practice trading it	15:36
<+silo>	^---- so studious :)	15:37
<+szubaark_away>	Austin how u record?
<+AustinJM>	NinjaTrader, market recorder
	left over 180 pts on the table, but very good learning experience	15:38
<+silo>	Long YM @ 8419
	one only
	riskier this trade with resistance right above
	but giving it a shot
	Long YM @ 8436 -> Add	15:39
<+szubaark_away>	silo the freight train is coming LOL
<ItalianSharp>	silo trying to save the markets
<+AustinJM>	haha
<+ItalianSharp>	did bernie told you to buy to support YM???	15:40
<+szubaark_away>	choo choo train
	Italian i used to do that crap all the time using CCI divergance until blew my account to shreds
<+ItalianSharp>	where are all buyers all of a sudden??? they've been tryign to buy all day and now they disappeared???
<@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
<@NihabaAshi>	No way to get Short since 3:30pm est unless shooting from the hip
* +AustinJM	points to silo
<+werner>	wosa
<+silo>	wow fucking hit my stop
	holy shit	15:41
	that fucking sucks
<+szubaark_away>	hahahah
<+AustinJM>	that bar is HUGE
	lol
<+ItalianSharp>	where was your stop at silo?
<+rickf>	short es 85.75 exit 75.75 +9 (late)
<+ItalianSharp>	ES down over 8%
<+szubaark_away>	Covered all Short ES at 875.75 --> + 20.5 «« paper »»
<+ItalianSharp>	another nice day to put on record for eminis
<dragon310>	don't catch falling knifes	15:42
<+ItalianSharp>	silo, did you have an emergency stop?
<+szubaark_away>	silo, u did get out, didnt you?
<+silo>	yeah
	hit my stop
<+AustinJM>	Post that one
<+silo>	30 points away
<+ItalianSharp>	no biggie then
	nice support here for YM
<+szubaark_away>	yea.post all your frikin trades, even the losing ones
<+silo>	Exited all YM Long @ 8400 --> - 55
	:(
<@NihabaAshi>	Yep...no biggie	15:43
<+silo>	was busy looking to see if we will get another bounce area
	oh well
<+ItalianSharp>	silo...as soon as you dumped your longs, market tanked...how many cotnracts did you trade???
	200??
<+AustinJM>	55 is like your average win silo
<+szubaark_away>	silo, u still up for day?	15:44
<+silo>	of coures dude
	i was up 3x
	man ... picking bottom and top.... works ok... but that was a freaking extreme drop
	holy f**k
<+szubaark_away>	SOME days picking bottom scalps will work, SOME days NOT LOL
<+rickf>	i traded that one - did liek 4 in-and-out trades for a few points ... too darn fast to post 'em	15:45
<+ItalianSharp>	szu, today it worked pretty much all day...if one trade goes bad, so be it
	buyers made huge money today IMO
	of course, you need to stick to your stops
	or else, you'll get run by a truck
<+silo>	no... it works usually for me
<+szubaark_away>	One thing i did today is stick to my Max Hardcore Stop	15:46
<+rickf>	now let's get a 20pt WRB on the upside to close the day :)
<+silo>	i showed yo uplenty of times....
<+werner>	losing money is never lol ......
<+silo>	it doesn't work on extreme market action
	like what happened
<+szubaark_away>	[15:32] > would love to see a 20pt RED WRB candle now to put me BREAKEVEN on day LOL
<+silo>	but i also said that it was a riskier trade
	'cuz there was resistance right up there
<+rickf>	yep
<+silo>	for this pick
	i took the risk
	stop got hit
	oh well
	i'm still up :)	15:47
<@NihabaAshi>	Dow down about -600
<+silo>	Long YM @ 8402
<@NihabaAshi>	These big down and up days are becoming the norm
<+AustinJM>	that drop was just shy of 100 pts
<+silo>	one only of course
<+AustinJM>	All the news pointed to a big down day on the markets	15:48
<+silo>	see if it goes back up to 8480 to test
<+AustinJM>	Eurozone down, reporting down
	did anyone hear any news to justify that move silo?
<+szubaark_away>	yes BUT catching these down waves is hard as pullbacks are viscious to get entries
	this will look like EASY downtrend in Hindsight, but REALTIME trading it was EXTREMELY DIFFICULT	15:49
<+rickf>	long es from 883.50
<+AustinJM>	ya szu, im actually putting together a screenshot of my horrible exit on this trade, it swung widly and i wanted to lock in profits	15:50
	but overall, it never went negative on me for more than 10 seconds, rest of time it was positive. Left over 290 YM on the table	15:51
<+rickf>	out 888 + 4.5
<+werner>	nice rickf	15:52
<+rickf>	ty
	long es 890	15:53
<+silo>	Exited all YM Long @ 8480 --> + 78
	1 contract only	15:54
<+szubaark_away>	nice
<+AustinJM>	there, now dontcha feel better
<+silo>	:)
	my top and bottom pick usually work
<+szubaark_away>	silo, u bottom packer :)
<+rickf>	out 898 +8
<+silo>	i always tell you guys here	15:55
	when it's a top/bottom pick entry
	iw as surprised when price rushed downward that hard
	it happens on rare occasions
	but that happens
<+AustinJM>	i dont have any news near me so i can't see what happened
<+silo>	but normal price action doesn't do this at all
	a normal drop during the market
<+AustinJM>	Define "normal" in todays markets
<+silo>	vs a hard slam near close is diffrent	15:56
	like a few weeks ago when we had those crazy volatile days
<+AustinJM>	ya those are like pirahanna moves
<+silo>	for example
	the bill being pass
	price will rush up and down pass extreme levels
<+szubaark_away>	Shorts ES @ 893 «« paper »»
<+silo>	defying physics basically
	:)
<+rickf>	300 pt swings are the new 30 pt swings	15:57
<+silo>	but at the same time... i went in knowing that this was a riskier trade becasue of that 8480 level acting as resistance for the long bounce....
<+rickf>	i am now a proud buffet owner -- brk/b shares purchased
<+silo>	so that... on top of the out of the norm price action (extreme dumping)
<+rickf>	fwiw :)
<+silo>	was why i lost that trade
	but it's ok
	8480
	see how that number broke.... nwo we hit that level... dipping a little	15:58
<+szubaark_away>	Covered all Short ES at 896.25 --> - 3.25 «« paper »»	15:59
<+AustinJM>	well you can see it on the volume too
<+silo>	sure
	but i had this 8480 level drawn before today's market opened
<+szubaark_away>	its going nuts right now	16:00
	Shorts ES @ 903.50 «« paper »»
<@NihabaAshi>	Shorts ES @ 900.00 -> small size	16:01
	2 only
<+AustinJM>	There's a gigantic hammer line on 3 min YM	16:02
	relatively large volume too
<+szubaark_away>	exit stop set ES @ 903 «« paper »»	16:04
<+AustinJM>	price is freaking out
<+silo>	see?
<+szubaark_away>	not much time left
<+silo>	this is why i said that rush downward was not normal
	when a big firm , or serveral big firms are selling or buying... and you're witnessing it.... that's when you will see out of the norm action
<+AustinJM>	I wonder if they were responding to an earnings report	16:05
<@NihabaAshi>	I have no choice but to trail my stop @ profit now
	It's tight for this type of price action into the 4:15pm est close
<+silo>	amazon, and serveral others	16:06
<@NihabaAshi>	Covered ES Short @ 899.50 --> + 0.5
<+szubaark_away>	Covered all Short ES at 898.75 --> + 4.75 «« paper »»	16:07
<+werner>	gn aaall
<+szubaark_away>	too late in the day
<@NihabaAshi>	expecting one last volatility spike before 4;15pm est
<+szubaark_away>	at least i cut my losses over 80% on a difficult chop day
<@NihabaAshi>	Long ES @ 899.75 -> small size	16:09
	2 only
<+rickf>	nice szu
<+szubaark_away>	thanks..	16:10
	As soon as Volatility showed up around 3:15 E i started getting runners and my Losing column started getting smaller	16:11
	other then that, most day was just fighting constatnt Stopouts in low Volatility which led to frustration and Overtrading	16:12
<+silo>	i'm pretty happy with my trading overal today	16:15
<@NihabaAshi>	Still holding with a +0.25 tick trail
<+silo>	followed the rules most of the time
	especially when volatility was low
<@NihabaAshi>	Will try to dump it for a nice little gain when it re-opens @ 4:30pm est	16:16
<+rickf>	i overtraded a bunch today - i have been HORRIBLE w/my discipline this week
<+silo>	perhaps next time i will pass on a bottom/top pick with clear resistance right near the bounce area
	:)
<+rickf>	only down $500 tho -- I'll live w/that
<+szubaark_away>	-$655 here from ________
<+silo>	when it re-opens?	16:17
	i thought futures close the day at 4:15pm
	they re-open for after market session that fast? at 4:30?	16:18
	:)
<+rickf>	yep
	ok guys good trading -- see you tomorrow	16:22
* +Tintin	: bye all	16:26
<+silo>	yeah i'm out soon too	16:28
	just waiting to see how niha's trade will open at when market reopens :)
<@NihabaAshi>	It open higher	16:30
	Exited all ES Long @ 905.25 --> + 5.5	16:31
<+silo>	nice trade niha
	it makes sense
	thanks buddy	16:32
	well. have a good one veryone
<@NihabaAshi>	Take care all and see all tomorrow
<+silo>	we'll do it all over again tomrrow
* NihabaAshi	is now known as NihabaAshi_away
<+AustinJM>	Have a good evening everyone
<+nqcruiser>	folks how do i paint a rectangle in esignal	16:37
<@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 23 00:00:00 2008	23:30
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 TF (formerly CME 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

"The point of this whole exercise is to make money. Everything else is just conversation." --Jonathan Hoenig

DAX   FTSE-100   CAC-40   EC   ER2   ES   NQ   YM   QQQQ   SPY   IWM   DIA   CL   QM   NG   OIH   XLE   GC   GLD   ZN   ZB   ZF   BUND   EurUsd   UsdCdn

Copyright © 2002 - 2008. The Strategy Lab. All rights reserved.