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#FuturesTrades November 2nd Thursday 2006 Trade Log

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

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

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

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

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

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

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









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+11.10 +0.0000
$1,110.00 $0.00

Trading Perspective

Profit/Loss Blotter

I was extremely exhausted yesterday...more mentally tired in comparison to being physically tired.

Today it was the complete opposite. In fact, I only got a few hours of sleep last night due to a very bad cough and because of such I only did a few trades today...calling it quits early to get some rest.

However, if you read the below chat log for today you will learn what my market bias was for today's intraday trading session, short term bias until mid-November and long term bias into January trading.

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

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

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


Session Start: Thu Nov 02 09:30:25 2006Session Ident: #futurestrades
* Now  #FuturesTrades purpose and benefits...click here. 09:30
<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
<PapaJon> gm all
<szubaark> gm
wonder where eminitrader is?
<pat255> gm all...09:31
<NihabaAshi> That's good looking first few minutes volatility spike.
<asuni> still bullish niha?09:32

gm all
<NihabaAshi> I have a bad cough...didn't sleep much last night...09:34
<pat255> :)09:35
<NihabaAshi> Will only trade an hour or so this morning and take it easy for the remainder of the day.
It did keep me up an allow me to monitor/study the Asian markets.
In reference to the Hang Seng HSI Futures.09:36
<PapaJon> see anything interesting?
<NihabaAshi> Yes...I like it...wish I could trade it.
<PapaJon> :)
<jperl> what kind of volume/day does HSI have?09:37
<NihabaAshi> It's liquid although I wasn't monitoring its volume.09:38

I only monitor its price action and volatility flow.
<ItalianSharp> isnt the hang seng very very volatile?09:39
<szubaark>  Shorts NQ @ 1712.50 paper 09:40
<NihabaAshi> Yes but I've heard from someone recently that its lost some of its volatility in the past few weeks.
<szubaark> looking for continued selloff from yersturday
<NihabaAshi> Not good for someone like me that's dependent upon volatility.
<ItalianSharp> looking at volatility numbers, almost all indexes around the world have lost some volatility recently
<NihabaAshi> Italiansharp...do you know why???09:41
<ItalianSharp> why?
<NihabaAshi> I surely don't but have notice the same.
<ItalianSharp> ah ok...i thought you had the answer...:(
<PapaJon> Italiansharp.. what numbers are you looking at for that?
<ItalianSharp> simple ATR numbers with daily charts09:42

ATR set at 21 periods
<PapaJon> ok.. gotcha.. thnx
<ItalianSharp> you can see a downward slope in volatility

almost everywhere

even in currencies

EUROFX used to range 100 pips a day...its now been ranging 73 pips a day...thats a 27% drop in volatility09:44

I am not that much concerned though...volatility is cyclical, it'll pick up soon i am sure09:45
<NihabaAshi>  Shorts ER2 @ 749.00 -> small size 09:46
Trying something new.
<szubaark>  exit stop set NQ @ 1712.50 paper

Covered all Short NQ at 1710 --> + 2.5 paper 09:47
<RussellDaytrade>  Exited 1/3 ER2 Long @ 749.9 --> - 6.6 paper
<szubaark> ER possble double bottom
<NihabaAshi>  Covered ER2 Short @ 750.00 --> - 1 09:48
Reverse and Enter Long ER2 @ 750.00
Weird fill on that.
Trading Edge: 


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<yvberj> 1
<RussellDaytrade>  Long ER2 @ 749.9 -> Add paper 09:49
<szubaark>  Shorts NQ @ 1708.25 paper 09:51

damn ER halding09:53
<NihabaAshi> Geesh...doesn't want to give me a point...may need to scale down my expecations on this trade.09:54
<Brutus> 1000/1500 Sept Factory Orders Unch09:56
<pat255> just chop in narrow range09:58
<NihabaAshi>  Long ER2 @ 749.60 -> Add 09:59
<RussellDaytrade> perhaps if it gets above vwap this am it'll catch a lift?? slim reed, could happen, short-lived?
<NihabaAshi> Trying to create a little breathing room.
<jperl> ER2 VWAP 750.32
<pdays> Factory orders 2.1 est 410:00
<NihabaAshi>  Exited 1/3 ER2 Long @ 750.40 --> + 0.8 10:02
Exited 1/3 ER2 Long @ 751.40 --> + 1.4 10:03

Traders Accounting 

As traders we must treat our trading like a business if we are to succeed as traders and as a business. Therefore, waiting till the last few weeks March to prepare for April's taxes is not good for your trading and could put extra stress on your trading during tax month or the months that follow if your one of those traders that filed an extension.. Therefore, its best to be on top of your taxes throughout the year and Traders Accounting is a great resource for such especially if you want to prevent penalties or an audit several years from now.
<jperl> YM VWAP 1202610:04
<RussellDaytrade> that spike up just now could become the first of several, with price reaching up to 755 + /- over several legs10:08
<szubaark> tight range10:09
<RussellDaytrade> or i could be seeing aparitions!10:10
back in 15-2010:13
<jperl> candy striped markets this morning....10:14

http://charts.dacharts.com/2006-11-02/JP ERL_014.png

ER2 bouncing around just above the VWAP 750.56....10:15

YM sitting on VWAP 12028

probably waiting for that petroleum report at 10:30 EST10:16
<NihabaAshi> I already earned my profit goal for the day but I'm trying to stay in this trade with my remainders to milk the cow sort'uv speak.10:17
<asuni> u didn't asnwer my question niha ur bias is still long?10:18

or i didn't tsee the answer
<NihabaAshi> asuni...my intraday bias is currently bullish.10:21
<asuni> k thnks
<NihabaAshi> My short term biar into mid-November is bullish and long term bias in January is bullish
However, my intraday bias can quickly change depending upon the price action.
<pat255> geez what a cjp zone ...10:22

<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)10:23
<NihabaAshi> ER2 volatility is slowly declining without any rises...10:25

I'm expecting a volatility spike.

Ooops...it just spiked :)
<szubaark> 10:30 Oil report should do that
<NihabaAshi> Hopefully so and hopefully in the direction of my trade.10:26
<asuni> 4 minutes natural gas report
<pat255> u still L niha?10:27
<NihabaAshi> Yes...with a few contracts.
<pat255> kty
<szubaark>  Covered all Short NQ at 1716 --> - 7.75 paper 10:28
Buys NQ @ 1716 paper
<NihabaAshi>  Exited ER2 Long @ 752.50 --> + 2.5

Holding 1 contract reminder.
<pat255> there u go...niha10:29
<szubaark> Shorted the Bottom :((
<NihabaAshi>  exit stop raised ER2 @ 751.70 10:30
<yvberj> Went into ER @ 751. out @ 52.910:31
<NihabaAshi>  Exited Remainder ER2 Long @ 752.30 --> + 2.3 10:32
I'm done for the day...it didn't move up fast enough with the type of volatility I needed to convert that remaining contract into an "Overnight Swing Trade".10:33
I also lost my patience to see if it developed into a swing trade.
Going to go take some medicine and get some rest.
* NihabaAshi is now known as NihabaAshi_away
* codehead_afk is now known as codehead10:35
<RussellDaytrade>  Exited all ER2 Long @ 753.3 --> - 0.2 paper 10:40
<szubaark>  Exited all Long NQ at 1715 --> - 1 paper 10:41
Shorts NQ @ 1715 paper
<RussellDaytrade> starting over
<jperl> TotalMarket still in candystripe mode10:42
<RussellDaytrade> that value is more like down 3.3 points on 3 contracts from yesterday

bought at ap of 756 an change10:43

the earlier sell this am of 1 was to see if the system retained positions overnight10:47
<jperl> On a candystripe day.....10:49
Markets don't have any conviction up or down
Rather aimless wandering....
Some above VWAP, some below...but no strength
<Brutus> Szu do you trade any real contracts?10:50
<szubaark> no.. still keep losing like the 95% out there :))10:52
Covered all Short NQ at 1720.25 --> - 5.25 paper
took some whacks today10:53
Creeper upmove.. those are tough to trade
what a way to start the frikin month10:55
<RussellDaytrade> lots of time to get it back
<szubaark>  Shorts NQ @ 1719.75 paper 10:56
<ItalianSharp> yeah, i had a rough day yesterday...made 2 trading mistakes and wasnt able to read the market properly...thank god i call it quits early10:57
<Brutus> Szu What do you use to trade?
<szubaark> just whatever experience i have in the last 4 years.. found out indicators are worthless :))
<Brutus> Good short entry10:58
<RussellDaytrade>  Shorts ER2 @ 754.7 paper
<szubaark> shorting 3rd up leg.. good probability trade.. just didnt have patience to wait for it
<yvberj> Long ER @ 54 out @ 55.110:59
<RussellDaytrade>  Covered all ER2 Short @ 754.8 --> - 0.1 paper 11:02
Shorts ER2 @ 755.5 paper 11:03
<szubaark> bastids going for Globex high Stops11:04
<RussellDaytrade> it could easily ri=un up another 3 -411:05
<Brutus>  Shorts ER2 @ 756.5
<RussellDaytrade>  Shorts ER2 @ 756.2 -> Add paper 11:06
<Brutus> Good short entry NQ divergence11:09
<RussellDaytrade>  Covered all ER2 Short @ 755.6 --> + 0.5 paper
<Brutus>  Covered 1/2 ER2 Short @ 755.6 --> + 0.9
<RussellDaytrade> after yesterday, taking quick profits today11:10
jp, wheres the vwap standing? possible downside target at vwap?11:11
<jperl> ER2 VWAP 751.8611:12

downside target only if you are a contertrend trader
<RussellDaytrade> thats low, maybe too far to attain
<Brutus>  Covered all ER2 Short @ 755.2 --> + 1.3 11:13
<RussellDaytrade> certainly possible
<Brutus> We could have a large downside move. Days like today ES comes within couple ticks11:14

of yesterdays close and sells off

Not new lows but say 5 points down in ER11:16

Look closely for signs of weakness around here and if so go short.11:17
<jperl> TotalMarket Candystriping is givingway to limeade11:18
http://charts.dacharts.com/2006-11-02/JP ERL_015.png11:20
<szubaark> ok they got the globex high Stops now..11:23
<Brutus> + or - couple ticks look at ER fall11:24
<szubaark> also around 50% retracemnt from yersturday's selloff (IN NINDSIGHT)11:27
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)11:32
<jperl> I'm done for the morning....here are the executions11:44

http://charts.dacharts.com/2006-11-02/JP ERL_016.png

All trades were longs....
<szubaark> nice jp11:45
<jperl> Note the last ER2 trade was a scale in....

If I had simply set a stop....

I would have been stopped out some 14 ticks below the initial entry...11:46

Instead since I had the VWAP as protection....

I decided to scale in...

and exited at break even

Another example of how scaling in can save your butt11:47
<pat255> nice jper ...watching the vwap line ..but no std dev but atleast keeps me out of trades when ner the vwap
near the vwap
<jperl> good pat

and tx szu
<pat255> vwap saves me on trades i dont need to be in ...11:48
let them take it away from vwap then i will see11:49
<jperl> yes....that's right pat....initiating a trade at VWAP can be dangerous
<szubaark> weird choppy channel type price action11:58
<RussellDaytrade> jp, i think today that vwap was useful in identifying accurately a point, a 'low threshold', if you will, that once surmounted kept building and supported going long right at it, or even in anticipatoin of it being crossed to the upside12:05

as the market was so deeply oversold ( on a short term basis) from yeaterday

since the vwap was so low, so early in the day, etc, and price was near it also12:07

look at that BO this am, it was right at the vwap, and it did not pull back into it, then or since12:08

it was at 750.3 as i remember

probably it just now bounced off of it12:09

Shorts ER2 @ 754.5 paper 12:13
<Brutus> No fill at 755.2 :(12:14
<RussellDaytrade> may get it yet brut
<Brutus> 2nd time is dangerous12:15
<RussellDaytrade> agree

Shorts ER2 @ 755.3 -> Add paper 12:17

feels likew a change of character in the trading just now the12:18
<Brutus> Lunch time manipulation, great for scalps
<RussellDaytrade> you like that trade! the lunchtime trade12:19
<Brutus> Any time is a good time, just adapt
<RussellDaytrade> hey, its time for me breakfast, something should happen about now12:20

Covered all ER2 Short @ 754.7 --> + 0.4 paper
<Brutus> See you do well scalping12:21
<RussellDaytrade> thank you, trying to take after you
<Brutus> Few good trades witha few contracts and you have a nice income
<szubaark> yeah easier said then done lol12:22
<Brutus> Postions trades can come later as the scalping will give you a much better feel
But on 3 contracts you can let the last ride like A
<szubaark> so much stuff goes into this trading crap (psychology,Income,living situation etc..)
<Brutus> Yes sometimes you have to act when it scares you the most12:23
IMO to many wait for price confirmation12:24
OF my 10 months trading Emins 4 months are profitable12:25
last 3 consecutive
With cincreasing profits
<szubaark> thats good..ive been trying to be profitible for 4 years lol
<Brutus> When NQ spiked up that was the best short12:26
But you had to have a game plan
very low R/R
<szubaark> well..u develop game plan as u learn this crap12:27

thousands and thousands of hours of screen time
<Brutus> Do you record the screen like niha?
<szubaark> i take screen shots.. dont have room (money for equipment) to record every trading day12:28
<Brutus> Yes I use snagit for 15s screen shots
so I can review and anticipate moves
no point looking in hindsight12:29
<szubaark> yup..hindishgt is worthless

going to lunch.. they gonna chop here looks like for a while12:31
<RussellDaytrade> brut, i wonder, does your being in Australia, ie, physically far away from the markets, increase your sense of detachment? perhaps a little, enough to give you an additioanl edge from that perspective, almost like its not real?12:33
<Brutus> Any loss is very real :)12:34
<RussellDaytrade> hear that
too real12:35
<Brutus> ping delay is like 300 ms

but your reaction time is much slower anyway
<RussellDaytrade> whats that mean? you got a slight delay in data transmisions?12:36
<Brutus> yes 1/3 second

behind you
<RussellDaytrade> ok, not too bad, considering
<Brutus> I watch the American news

Follow most US politics
<RussellDaytrade>  Shorts ER2 @ 753.7 paper 12:37
<Brutus> COuld just as well be a Yank
<RussellDaytrade> must sem like cheap theatrics to folks outside the country12:38
<Brutus> I am also working on the bigger picture of trading / investing

Daytrading is the first hurdle
<RussellDaytrade> stocks?
<Brutus> Yes nice adds on your congressmen

Yes and commodoties12:39

<RussellDaytrade> they're gonna have to break the vwap level in order bring in more selling, i think12:41
maybe good for a buch or so lower
<Brutus> Yes but take what you get in lunch
<RussellDaytrade> will close 752.5ish12:42
Covered all ER2 Short @ 752.8 --> + 0.9 paper
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)12:44
<Brutus> You could look for an exhaustion point, exit like you did as most of the position
and reneter the same at like 753.512:45
but keeping 1/3 or half on
Work the down channel or sideways channel12:47
<RussellDaytrade>  Shorts ER2 @ 754.8 paper 13:27

no real edge here, just trading

Covered all ER2 Short @ 754.4 --> + 0.4 paper 13:28

buy stop to enter long ER2 @ 756 paper 13:34

testing commands
<Brutus> Russell, you need to get this. http://www.elitetrader.com/vb/showthread .php?s=&threadid=7569913:35
<RussellDaytrade>  cancelled all open stop orders paper

looks like it can make fast work of preprogrammed functions, you tried it yet?13:39
<Brutus> Its my baby
buy at bid or sell at ask13:40
<RussellDaytrade> can you give some examples of how you put it to use.
<Brutus> but at bid -0.1 or but at bid -0.2 etc13:41
All mapped hotkeys.
<RussellDaytrade> so you strike a key on it, and it performs a preset function, like buy or sell at a specified price elative to bid ask current price etc?
<Brutus> buy not but13:42
<RussellDaytrade> nice

could promote active trading!
<Brutus> Other scalpers use the DOM for their trading
<RussellDaytrade> dom?
<Brutus> brokers should give them away13:43
<RussellDaytrade> similar device?
<Brutus> Dom like level 2 display, click and order is placed
<RussellDaytrade> should hire gamers to trade the er

they cvan think of it as taking shots at a moving target13:44
<Brutus> Yes I could train a whole prop team here
<RussellDaytrade> let me know when you get set up

Shorts ER2 @ 753.7 paper

just trading, hoping it carries13:45
<Brutus> Train kids who do not carry the psychological scars13:46
<RussellDaytrade>  Covered all ER2 Short @ 753.5 --> + 0.2 paper

late on jumping on, missed lower fill while typing

wonder if i can program hotkeys to do same with IB platfrom?13:48
<Brutus> yes you can13:49



Mentally getting away from trading is much harder to do in comparison to physically getting away from trading when its time for some rest and relaxation. Personally, one of my favorite ways to mentally rest is to watch movies I've copy & recorded from the local video store via my Slysoft software that copies any copyright protected dvd's and cd's.
   Slysoft - Copy and DVD or CD
<RussellDaytrade> will look into that, and try it out, thx13:50

hope its not like playing ping pong, and gives one a pseudo-caffiene-like buzz!13:51
<jperl> If you are using IB and want one click trading...
<RussellDaytrade> yes?
<jperl> get a front end....
like zerolinetrader
one click DOM trading
<RussellDaytrade> not sure what you mean by frontend jp
<jperl> It's a program that sits in front of TWS.....13:52
shows a DOM for example with prices on it
you click the price you want to buy or sell at....
<RussellDaytrade> you think Ib offers hotkey order inputing?13:53
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)
<jperl> It's a front end for IB.....it's what I use.....

there are others as well...like BracketTrader, NinjaTrader....

but Zerolinetrader is the simplest to use if you are a DOM trader13:54
<RussellDaytrade> ok, thx, partial screenshot??
<jperl> sure....just a sec
<RussellDaytrade> what the heck does DOM stand for??
Shorts ER2 @ 753.4 paper
<jperl> Here's my DOM( Depth of Market) for ER2 right now....13:56

http://charts.dacharts.com/2006-11-02/JP ERL_017.png
<RussellDaytrade>  Covered all ER2 Short @ 753.5 --> - 0.1 paper
<jperl> If you click on any price row....13:57

it enters an order into TWS at that price
<RussellDaytrade> that looks pretty handy, you gotta have L2 access for that, to display different levels, or you think it also works with L1 quotes?13:58
<jperl> you don't need L213:59
<RussellDaytrade>  Shorts ER2 @ 753.2 paper 14:01
Shorts ER2 @ 753.2 paper
Covered 1/2 ER2 Short @ 753.4 --> - 0.2 paper 14:02
<jperl> Here are 2 DOMS open at the same time....

one for YM, other for ER2...
<RussellDaytrade>  Covered all ER2 Short @ 753.3 --> - 0.1 paper 14:03
<jperl> http://charts.dacharts.com/2006-11-02/JP ERL_018.png
<RussellDaytrade> coulda used that device just now!
<Brutus> I'm thinking we may have a smalll rally to new highs today.14:04
<szubaark>  Covered all Short NQ at 1716.5- --> + 3.25 paper 14:06
Buys NQ @ 1716.50 paper 14:09
Exited all Long NQ at 1716.50 --> 0 paper 14:13
im done.. this price action sucks
* szubaark is now known as szubaark_away
<Brutus> Just when the party begins :)14:14
<RussellDaytrade> seems like it would either break up, or down soon, forming a 3.5 hour triangle/pennant14:22
<Brutus> Yes either last fakeout down or we are going down14:23
Long ER2 @ 752.9 paper 14:26
<RussellDaytrade>  buy stop to enter long ER2 @ 755 paper 14:30

buy stop to enter long ER2 @ 755.5 paper 14:31

buy stop to enter long ER2 @ 756 paper

magent orders to attract price

<Brutus> No doubt thay are monitoring this board :)14:32
<RussellDaytrade> just practicing brut, tryinmg to formulate big picture daytrading srtategy:)14:33

now trying to figure out how i go about 'unzippering those buy stops individually14:34

with keystrokes
<Brutus> I know, but one day a fat finger will clean you out. So dont do it.
<RussellDaytrade> yeah, don't try it on fed announcement days!
<Brutus> Any day ER can spike in a blink of your eye.14:35
That once in a year or two even will clean you out.14:36
<RussellDaytrade> in actual appplications, i would be very conservative14:37
<Brutus> The it would have negigible effect so not worth any risk imo.
<RussellDaytrade> do have a concern about the (un)scrupulousness of brokers, however, in possibly still executing cancelled orders14:38
<Brutus> My paper position trade goes +1.3 to 0 lol14:39
<RussellDaytrade> more than anyhting, i think, it helps to aklign my htinking about how and where i expect price to go, short term, 30-60 minutes out

cancelled all open stop orders paper 14:40
<Brutus>  Exited ER2 Long @ 753.5 --> + 0.6 paper 14:45
<yvberj> Had to go out for a couple of hrs. Looks like not much has changed.14:47
<RussellDaytrade>  sell stop to enter short ER2 @ 750.5 paper 14:53
<ItalianSharp> we have been in a tight range in the last few hours...volatility almost dead...i dont like these trading conditions...guess institutionals are waiting for tomorrow's NFP numbers.14:54

you guys take care, talk to you tomorrow14:55
<RussellDaytrade> buena nochte'!14:58
<yvberj> You certainly can't make any money with this kind of volatility. All you do is get whipsawed.14:59
<RussellDaytrade> brut, trying to train myself in piling onto these spikes
missed that entry short when it broke the lower pennant trendline, but placed the sellshort order below, will cancel when/if 751 / .5 of trigger price15:01
not my usual trade style15:02
this contract spikes up and down so often, makesme think there are traders/programs that have orders in place prior, that have/create the 'run-on' effect15:04
<Brutus> Yes
<RussellDaytrade> a self-perpetuating move(s)
cancelled all open stop orders paper
<Brutus> They just keep swaping contracts15:05
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)
<Brutus> afternoon rally could be at hand..
<RussellDaytrade>  Shorts ER2 @ 753.4 paper 15:13
<Brutus> Could be an afternoon rally15:14

But will fall off in the last 15 to 30 mins
<RussellDaytrade>  Covered all ER2 Short @ 753.6 --> - 0.2 paper 15:17
<yvberj> Russell - What time frame are you using to trade?15:25
<RussellDaytrade> intraday, usually very short term... byb, on tele..15:26
sorry, phone, (not television)...15:36
i am usually looking to define a move that may take approx 30-60 minutes to manifest, that may move 3-4.5 bucks, and i am seeking to capture approx 1 1.5 bucks in aprox half the overall timeframe of the move i expect, so, between 15-30, (and the faster the better!)15:38
take that move down off the highs this am, i expected the price to drop approx 3 bucks, in about 42 minutes, (which it did, and more today)..15:40
the first drop fullfills my trade objective, as differntiated from the setup objective
obviuosly, it is easier to get a 1-1.5 buck move, than a 3-4.5 buck move15:41
and, if i am incorrect on the entry, in many instances, the price will still fulfill the trade objective15:43
<yvberj> I agree with your objectives and basically do the same. What I meant to ask & didn't make it clear, was what time frame chart do you use to execute your trades?15:44
<RussellDaytrade> 1 minute bars / daily (all days data) chart15:45
helps me se the overall day on one screen, am used to reading the trading from it15:46
what do you use?
<yo> gn all15:47
<yvberj> I mostly follow the 5m., but use the 1m for entry & exit. I also keep an eye on the 15 & 30m for a greater perspective of direction.15:48
<RussellDaytrade> however, when paper trading, i will stray from my usual characteristic 'conservative' stance, (if trading the er can be defined as conservative!)15:49

and just take trades as the spirit moves me
<yvberj> LOL
<RussellDaytrade> how many days on the 15 and 30 minute?15:50
<yvberj> I keep an eye on a couple of days, but am mostly interested in what's happening today.15:51
<RussellDaytrade> looks like thy're gonna save par today15:52
<yvberj> It apears that way.
G/N all. It was a good morn. but boring aft. See you tomorrow.16:05
<RussellDaytrade> let all call out some trades tomorrow16:06
<X>  #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY)16:17
<Brutus> cul8r16:18
* DisconnectedSession Close: Thu Nov 02 16:49:50 200616:49

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