#FuturesTrades November 16th Thursday 2006 Trade Log
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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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ER2 EuroFX EC +14.00 +0.0000 $1,400.00 $0.00 Trading Perspective
I don't have anything important to say other than to say that I will post something very interesting tomorrow.
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)
intradaystrategies@yahoo.comNote: 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 16 09:21:54 2006Session Ident: #futurestrades * Now 09:21 <X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm <pat255> gm niha ...mkt shows no signs of letting up 09:26 <john99> anyone thinking of trying to fade this morning for a gap fill 09:28 seems like er2 800 has to be hit today <PapaJon> gm all 09:29 <NihabaAshi> Shorts ER2 @ 796.50 -> large size 09:30 <jperl> yesterdays VWAP ER2=793.26 09:32 <NihabaAshi> Covered 1/3 ER2 Short @ 795.50 --> + 1 09:34 <john99> gap filled on er2 <NihabaAshi> Covered 1/3 ER2 Short @ 794.80 --> + 1.7 <john99> er2 weakest this morning 09:35 <NihabaAshi> Covered ER2 Short @ 794.40 --> + 2.1 Holding 1 contract remainder <PapaJon> nice start niha :) <NihabaAshi> Covered Remainder ER2 Short @ 796.10 --> + 0.4 09:36 <john99> wish I was brave enough for gap plays, in time I guess <Brutus> Done for the day :) <NihabaAshi> trailing stop got pick pocketed :( <WannaBeBOS> pretty whippy 09:37 <szubaark_away> Buys NQ @ 1806.50 «« paper »» 09:38 <pdays> anyone else TS ER2...no 09:39 data <PapaJon> ts? <john99> ? <pdays> TradeStation <PapaJon> oh.. right <pdays> frozen <john99> IB is fine 09:40 <PapaJon> esig is ok <asuni> not here tradestation is ok here <yo> ts ok here <pdays> reboot time...tnx <john99> es strongest here 09:41 if smh goes below 35.08 I'll short 09:43 <pat255> L 794.. 09:44 <szubaark_away> Exited all Long NQ at 1799.50 --> - 7 «« paper »» :(( Shorts NQ @ 1799.50 «« paper »» <pat255> out b/e sigh <szubaark_away> looks like i bought the Top :)) 09:45 <pdays> that fixed it...tnx guys/gals? ;} <jperl> ER2 at yesterdays VWAP 793.25 <john99> smh 35.07 09:48 <szubaark_away> exit stop set NQ @ 1799.50 «« paper »» Covered all Short NQ at 1799.50 --> 0 «« paper »» 09:50 Buys NQ @ 1799.50 «« paper »» <PapaJon> szu... is eminitrader still having problems logging into #futurestrades? 09:52 <szubaark_away> yes.. <NihabaAshi> I didn't know Eminitrader was having problems. 09:53 <PapaJon> hmmf.. wonder why * codehead_afk is now known as codehead <PapaJon> yah... started last week niha <NihabaAshi> I posted a warning to him many months ago about the "double log ins". <PapaJon> ? how do you do that? <NihabaAshi> The othernet folks will see those double log ins as "ghosts"...hacker profile and prevent him from logging back on. Simply, if you get disconnected and then you log back on and see "two" of your names in the room... 09:54 <PapaJon> he is on mirc.. in an other room.. and pm him works ok... just cant get into here niha <NihabaAshi> He needs to immedeately remove the other name. Papa...yes...it's easily fixable but he has to go to the Othernet folks to ask for help in the #help room 09:55 Also, does anybody know for sure if he's using the correct password since it has changed about the time when he last log in here ? 09:56 <PapaJon> yes he is niha... he posted it to me last week perhaps you could pm him niha.. <szubaark_away> yes.. he is missed.. his trading style is similar to "mine" 09:57 <NihabaAshi> Papa...when its that technical...he needs to go to #help. They can fix it for him. <pat255> S 96.1 <NihabaAshi> All I can do is ask him if he's using the right password. <john99> Shorts ER2 @ 796.3 «« Scalp »» <PapaJon> ok.. will let him know.. <NihabaAshi> However, the problem did start when he was "double logged in". 09:58 <pat255> out b/e again .. <NihabaAshi> Long ER2 @ 796.20 -> small size 10:00 <szubaark_away> Exited all Long NQ at 1801 --> + 1.5 «« paper »» :( <john99> Covered all ER2 Short @ 795.8 --> + 0.5 «« Scalp »» 10:01 <NihabaAshi> Exited all ER2 Long @ 795.20 --> - 1 10:04 FED folks speaking now. 10:06 <szubaark_away> Buys NQ @ 1801.50 «« paper »» <jperl> I'm done for the morning.... 10:08 here are this mornings trades... http://charts.dacharts.com/2006-11-16/JP ERL_011.png <szubaark_away> Exited all Long NQ at 1799 --> - 2.5 «« paper »» 10:09 Shorts NQ @ 1799 «« paper »» <NihabaAshi> Shorts ER2 @ 794.20 -> small size <szubaark_away> cant get anything going.. that RED WRB took me down 7 points in the hole :(( 10:10 <pdays> Shorts ER2 @ 794.6 10:13 Covered all ER2 Short @ 794.1 --> + 0.5 <NihabaAshi> Covered ER2 Short @ 794.90 --> - 0.7 10:15 Reverse and Enter Long ER2 @ 794.90 <jperl> ER2 at VWAP 794.99 <NihabaAshi> Large long position <john99> based on the time, that might be a good position Niha <NihabaAshi> I'm up against that declining volatility :( 10:17 It needs to go into a "creeper uptrend" mode for me to get my target. 10:18 <john99> I'm still bearish we are in yesterdays closing range 10:19 ym and es gap still not filled <NihabaAshi> I'm a little surprise that volatility is declining especially with some key fed folks speaking. 10:20 <pat255> cuz of vwap as jp mentions ...need to get away from vwap? <jperl> yes 10:21 * jperl doesn't trade here <pat255> :) <john99> longs might be getting tired has to go past 796 for more upside potential 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> With the declining volatility...everybody will "soon" start to get tired. Exited 2/3 ER2 Long @ 795.60 --> + 0.7 10:24 <john99> er2 weakest this morning, es and nq strongest <NihabaAshi> :( 10:25 <john99> looking to short now 10:26 <NihabaAshi> Exited Remainder ER2 Long @ 795.00 --> + 0.1 <pdays> Long ER2 @ 795.0 <NihabaAshi> I'm now officially in profit protection mode due to the declining volatility until the Philadelphia FED Survey is release @ 12:00 est 10:27 * Retrieving #futurestrades modes... 10:28 <pat255> might as well chopping around <szubaark_away> let the chop begin and its only 10:30 10:30 <john99> oil inventory data coming in a min 10:31 for nat gas when # comes out smh will move 10:33 the # is late 10:36 nq moving up, <szubaark_away> its late to the Public <PapaJon> [07:24] <eminitrader> happy thks giving and pls wish everyone in the room the same 10:37 <pat255> where is he? <NihabaAshi> john99...do you ever trade the SMH ? 10:38 <pdays> natural gas est..6 in @ 5 10:39 <Brutus> Thursday, Nov. 23, 2006 - Thanksgiving CME closed 10:41 Close at 12:15 (CME Equity Indexes on Friday 24th Nov <john99> the week before thx giv was volatile last year Shorts ER2 @ 794.8 «« Scalp »» 10:42 <jperl> VWAP=POC= 795.04 10:43 we have a balanced market be careful using any indicators <john99> smh selling 10:44 Covered all ER2 Short @ 794.7 --> + 0.1 «« Scalp »» 10:45 <pdays> Exited all ER2 Long @ 794.7 --> - 0.3 10:46 <john99> trend line underneath er2 covered 1pt to early again 10:49 <NihabaAshi> Shorts ER2 @ 793.10 -> small size Order entry error :( Covered ER2 Short @ 792.70 --> + 0.4 10:50 <john99> tend line broke, looking for next short setup smh going to take out lows 10:51 <NihabaAshi> It's a good day of trading when I can make a profit on an order entry error by me. <john99> 794 would be good short <pat255> lol....+ve trade is all that counts <john99> smh should sell off good if it gets below 35 10:52 791.6 here we come 10:53 amex tick made new low first 10:54 ym and es have little room to go for gap fill 10:55 Shorts ER2 @ 791.9 «« Scalp »» 10:56 Covered all ER2 Short @ 791.6 --> + 0.3 «« Scalp »» Hard to get into the trade,it wouldn't bounce for a better entry 10:57 <RussellDaytrade> think that short was a little late john, think you did well to close it quick. that said, there must be some sell stops at 790 by now that will likely get triggered today, though it may bonce up a little from here between then and now 11:01 just a pure guess on my part, on all the above. <john99> 791.6 was key # yesterday, and I think it was yesterday s 61% retrace # 11:02 not going to short down here, 794 would be better we could creep up to 794, but smh is really close to going down hard 11:03 <szubaark_away> c'mon go down i need the points <RussellDaytrade> iyt does seem that in many instances, the values are carried into the subsequents days' trading. 794 was the 'breakdown point', so it may climb back to test it, seems a likely place for it both to go to, and to stop at. 11:04 <john99> I agree, I think others will see that pt and it won't get that far 11:06 <NihabaAshi> Long ER2 @ 792.50 -> small size <john99> If I was brave I would try a long scalp <NihabaAshi> 1 contract only <john99> ym retraced a good amount, good enough for a short, however er2 has been the weakest this morning and isn't retrace like nq or ym 11:07 I had some breakfeast this morning so my brain is functioning better 11:09 nq strongest today <RussellDaytrade> my model saya 795.5 in approx37 minutes from now, but, since we are just beginning to roll over from an overbought condition, (all my opinion) that it is more likely to achieve less then those levels. if we were oversold, then the likelyhood increases of full setups being met, and so on. 11:10 <Brutus> John So your saying yesterday was a glucose deficiency day :) <john99> yes,,,coma state almost 11:11 <RussellDaytrade> noramlly good for a buck to buck and a half from lows even in the face of more selling pressure. <NihabaAshi> Long ER2 @ 792.00 -> Add <john99> er2 is being held down here, don't u guys see this?? amex tick is flat lining, no retrace 11:12 <RussellDaytrade> dow climbing , er retraced, and now climbing, should see 793 easy <john99> maybe short when the MA catched up <NihabaAshi> Exited 1/2 ER2 Long @ 792.30 --> + 0.3 <john99> I've got a low tick extreme on NYSE at 10:49, so far the price has only retraced to this pt. 11:13 789 is next support level <RussellDaytrade> have to admit, er is 'not playing along', thus far, may be indicative of another leg down. 11:14 <john99> Shorts only for me until noon <NihabaAshi> Volatility very low...there should be a volatility spike here soon. 11:16 <john99> er2 has crossed 200ma on 3min we are at 23% retrace from todays high and starting from the breakout on tuesday 38% fib is 789 es gap still not filled <RussellDaytrade> would that normally equate to a rise in price?, the volatility spike? <john99> here comes the pop I'm hearing volume on my block trade indicator 11:17 <NihabaAshi> Geeesh :( 11:18 <john99> msft making new year highs I think flat line since 10:30 maybe that's why nq is strong today IBM made 52week high and is setup right now for a good short 11:19 <NihabaAshi> I'm slowly getting "mentally exhausted" over a 1 contract trade due to the lack of volatility. Will take a break after I close this contract. <john99> oil weak today 11:20 <NihabaAshi> Exited Remainder ER2 Long @ 792.70 --> + 0.2 <john99> amex tick finally coming up ym retraced 20pts and er2 barely 1pt 11:24 Looking for short soon 11:25 automated buy on all indices 11:27 just now nq tick indicator just reach high level nyse tick breaking out of range look at ym go,,,its always good to know what index is acting weak and strong to plan which trades are best for long and short 11:29 u still holding Niha?? 11:30 ym is strong b/c of msft 11:31 <szubaark_away> Covered all Short NQ at 1803.75 --> - 4.75 «« paper »» :(( <john99> msft is flat lining now thou block trade IWM, looking for a move in next 4min 11:34 <NihabaAshi> [11:30] <john99> u still holding Niha?? <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) 11:35 <NihabaAshi> john...the low volatility took its toll on me and I became easily impatient. <john99> I hear ya, I think we well get a down move now <NihabaAshi> As soon as the contract became profitable...I dump it to get rid of the stress. <john99> msft coming down a few cents 11:36 793.4 breakout pt 11:37 long tick setup 11:38 price 792.8 wait 3min price 792.4 11:42 12pm low??? <NihabaAshi> Reminder: 12:00pm est Philadelphia FED Survery 11:44 <john99> thx, that means no trading for me until after <NihabaAshi> Volatility has already started picking up. <john99> yep I really want to short right now 11:45 <NihabaAshi> john...is that a feeling or a signal from your trading plan ? 11:46 <john99> a feeling, which is the opposite of what I see on the charts <NihabaAshi> Ok...as long as you recognize that as such...you will remain in control of it. 11:47 <john99> right HOLY COW!!!!! 11:49 OIL TANKED! XLE may be bottoming out, this could be a bottom I'm surprised SMH isn't higher 11:51 Maybe we will see an upside surprise after 12pm <NihabaAshi> The big Short signal for Oil was around 1036am est. 11:52 <john99> I have no bias, sticking to trade setups and stops <NihabaAshi> It's been ugly ever since. <john99> xle new lows, xle is weak and smh isn't doing much, should see a little inverse trading between the 2 though 11:53 <NihabaAshi> ER2 lost its volatility...expecting a volatility spike here soon especially with the Philly FED Survery coming around the corner 11:54 <john99> I've got a question on position size.. 11:55 lets say we are trading with max of 4 cards 11:56 u see a trade setup that u like do u enter 1, 2 or all 4 cards wym new highs and er2 selling off,,,great!! 11:57 ym er2 and ym,,,perfect example of why I don't use the ym chart to trade ER2 11:58 news must be out <pdays> philly est 5.0 @ 5.1 11:59 <john99> what news do u use pdays 12:00 trend on er2 still down 12:01 <pdays> Team Speak <john99> CNBC just now reporting is this same pattern as yesterday on the charts es aint moving for nobody 12:02 what a waste trading es today <NihabaAshi> So far...technically yes after retracing the big down dark candlestick. <john99> amex tick bullish so is nq 12:03 if we get trend line break on er2, I may go long,,ym better long thou oil lower 12:05 <RussellDaytrade> quote from Adrienne Tohgraie, "In my experience, the best traders are those who are discretionary, using an intuitive indicator"... <john99> 793.4 breakout pt 12:07 794 hit trend line broke <NihabaAshi> Long ER2 @ 794.00 -> Add Open order fill...not an add. 12:08 <john99> 793.3 should act as support <NihabaAshi> Long ER2 @ 794.00 -> small size Exited ER2 Long @ 794.20 --> + 0.4 <RussellDaytrade> "Until the trader has a method that he can write down with definitive rules, he cannot rely on his method. And yes, intuition can be quantifyable and reliable when monitored over a period of time. In fact, I beleive it is the most reliable indicator a trader has as long as he has put his physical, emotional, and mental states into balance". close quote. 12:09 <NihabaAshi> That's a +0.20 and not a +0.40 <john99> looking for 2 bar drop and 793.3 support for long actually, there is still 1 trend line above er2 12:10 <NihabaAshi> Russell...I believe your talking about a trader that has many years of trading experience and profitability prior to traversing into a discretionary trader using a "intuition". 12:11 <john99> 795 resistance <NihabaAshi> I believe its something that just "develops" over time and not something a beginner can sit down and say he wants to be that type of trader. <RussellDaytrade> yes, I believe she is refering to the same, seasoned traders. 12:12 Shorts ES @ 794.2 «« paper »» <john99> I will wait short looks good for next 2min thou <NihabaAshi> I've experimented two months of trading with such...my results were above my norm but I had lots more stress. <RussellDaytrade> and with proven methods and strongly developed personal support systems, etc. 12:13 <john99> 793.3 is 38% fib on last run up <RussellDaytrade> Covered all ES Short @ 793.6 --> + 0.6 «« paper »» <jperl> ER2 at VWAP 793.94 12:16 <pat255> c u all later ty 12:20 back to office <john99> later <RussellDaytrade> well, tha breakdown point of 794 just got successfully challenged, which way is the most likely course of direction now? <john99> depends if overhead trendline is broken 12:21 793.3 taken out things look bearish <RussellDaytrade> connecting all tops since yesterday? <john99> ym up trend line penetrated er2 trend line from this morning 12:22 connecting 9:30, 10:40 and 12:10 smh straight up trend thou es MA showing support all day, would be time to buy it right now 12:23 if it holds <RussellDaytrade> ok , thos also connect with yesterdays highs. <ItalianSharp> it looks like volatility can't hold on for longer than 5mins at the time...another report coming up at 1pm... 12:24 <john99> what news is next?? <ItalianSharp> NAHB Housing Market Index 12:25 i doubt it it'll move the market at all <john99> ym at 38% fib 12:28 Long YM @ 12319 «« Scalp »» target 12325 12:30 stopped out 12:33 Exited all YM Long @ 12315 --> - 4 «« Scalp »» <NihabaAshi> I'm going to lunch...volatility is poor and not to me. 12:41 * NihabaAshi is now known as NihabaAshi_away <jperl> ER2 now trading between VWAP and POC 12:42 VWAP=793.87, POC=792.51 12:43 region I call no-mans land <john> yep <RussellDaytrade> poc? <jperl> scalpers can make hay here <john> or get chopped 12:44 <jperl> Point of Control peak in the volume distribution function <john> my charts aren't moving.... or is that the market... <jperl> price action tends to oscillate in the no-mans land region 12:45 <RussellDaytrade> so the poc is the level where the most actual volume has taken place? as measured by the length of the volume bar? 12:46 <jperl> correct <RussellDaytrade> ok, thx <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) 12:47 <jperl> here is a 15 minute chart which demonstrates what I am saying... 12:48 http://charts.dacharts.com/2006-11-16/JP ERL_013.png light blue line=VWAP dotted purple line=POC note how price action of ER2 is oscillating between these two points 12:49 <RussellDaytrade> on a slightly bigger picture outlook, i think if 790 is breached, with gusto, that it will be interpreted as a new move down, and could carry to 785 range, possibly the same day, for example, if it occured tomorow sometime. <jperl> If you trade in this region.... 12:51 you should be long when price touches POC.... and short when it touches VWAP <john> there was my 12325 12:52 to bad I placed my stop too close er2 moving down, ym up a little 12:53 <RussellDaytrade> er is diverging from dow today. <john> big time <RussellDaytrade> hope that is indicative of 785 on the horizon. 12:54 <john> selling on IWM smh near resistance 12:55 nq bearish too msft near highs 12:56 aapl near highs this is the slowest I've seen it in a while.,,,,nevermind 12:58 spoke to soon here comes a # or something 12:59 :) <ItalianSharp> lets see if this ridiculous housing number can move this market a little CNBC care so much about this number that they are still running commercials right now 13:00 lol ok, they are live now <john> block trade HD 13:01 <ItalianSharp> no impact on the market...not yet at least 13:02 i get a sick feeling to my stomach just looking at todays charts...might just call it a day 13:03 <john> vix turning bearish we are near top of er2 trend line again 13:08 <jperl> no-mans land update here... http://charts.dacharts.com/2006-11-16/JP ERL_013.png we had another oscillation back to VWAP <john> hd aapl moving up 13:09 <jperl> think I posted wrong chart.... 13:11 http://charts.dacharts.com/2006-11-16/JP ERL_014.png <RussellDaytrade> looks like it's at the down-sloping trendline, may penetrate it to the upside since that last dip was higher then the one before. 13:12 <john> true, <RussellDaytrade> jp, it keeps defering to your previous chart post. <john> Think I need to listen to some music to wake up or go outside 13:13 HD moving up by 3 whole cents.... with good volume,,,yawn <jperl> that is interesting RD....wonder why it's doing that 13:14 <john> I feel like shorting <RussellDaytrade> i dunno, thought it was on my end. <jperl> no it looks ok RD.....013 chart is earlier version of 014 <john> Shorts ER2 @ 793.2 «« paper »» <RussellDaytrade> thx, that dynamic is working well today, (the oscillation between vwap/poc). 13:17 <john> Economist Milton Friedman Dies at 94 AP - Milton Friedman, the Nobel Prize-winning economist who advocated an unfettered free market and had the ear of Presidents Nixon, Ford and Reagan, died Thursday. He was 94. <RussellDaytrade> so far, anyway, may change, just about the time people get a read on it. 13:18 <john> should I hold?? <RussellDaytrade> man, those economists live a long time. job-related longevity? 13:19 <jperl> no-mans land update.... <RussellDaytrade> why not, set a stop at BE and see what happens. 13:20 <john> its paper <jperl> here is the next oscillation down to POC... http://charts.dacharts.com/2006-11-16/JP ERL_015.png <john> just trading paper to stay awake <RussellDaytrade> see if they go to 792 on this trip. <john> HD up ~5 cents 13:21 I see nothing 13:23 anyone??? <RussellDaytrade> you'd think the market would at least go down a bit to honor the passing of MF, sometiimes, the market shows its 'sensitive' side, by rallying on the news of specific outstanding achievements, and vice versa. 13:24 we need a little selloff in here to dishearten longs. 13:25 <john> how bout a big one.. :) <RussellDaytrade> ok by me. <john> ok then, I'll arrange it and all Mr. Market Just got a call back, he said we'll selloff in the next 5min 13:26 <RussellDaytrade> i'm gonna show size on the ask in the simaccount! <john> R U CRAZY!!!!!! SMH may break out of its box to the downside as a catalyst 13:27 T-minus 3-4min 1:31 ETA 13:28 lots of volume on ES here I'm seeing alot of big prints 13:29 <RussellDaytrade> xheck out the vol on er <john> 1 min <RussellDaytrade> dwindled to a trickle 13:30 don't sell a dull market??? <john> HD up 7 cents, YM near high new highs AAPL breakout to the upside??? 13:31 I said the other way Mr. Market HD 10cents Covered all ER2 Short @ 793.4 --> - 0.2 «« paper »» 13:32 <RussellDaytrade> jp, that vwap spread must be tightening along with these oscillations <john> this is official trend line breakout if it goes to 794.7...:) 13:33 <jperl> actually no RD...since VWAP is flat in here <john> smh box breakout NQ volume <jperl> ok we just had a breakout above the VWAP <john> NQ new highs going to buy pullback, should be a good trade 13:34 <RussellDaytrade> Shorts ES @ 794.7 «« paper »» <john> ym making new highs, will not short time to scalp 13:35 <RussellDaytrade> Covered all ES Short @ 794.7 --> 0 «« paper »» 13:37 <john> should drop a little just got .1pts 13:41 <RussellDaytrade> Shorts ES @ 795.3 «« paper »» <john> short,,are u mad??? HD 15 cents 13:42 since report 13:43 Guess HD was a heads up still on a tear up er2 volume selling nq selling near yesterday highs 13:44 short stops at 1813 I'm guessing 13:45 Still time in day for er2 800 796 next target <RussellDaytrade> Covered all ES Short @ 795.3 --> 0 «« paper »» 13:46 <john> Long ER2 @ 795.5 «« Scalp »» 13:47 Exited all ER2 Long @ 795.7 --> + 0.2 «« Scalp »» 13:49 watch NQ for breakout HD now up 30 cents 13:50 <RussellDaytrade> Shorts ES @ 795.6 «« paper »» no edge here, just taking a trade 13:51 Covered all ES Short @ 796. --> - 0.4 «« paper »» 13:52 Shorts ES @ 795.6 «« paper »» 13:54 <john> Long ER2 @ 796.1 «« Scalp »» <RussellDaytrade> Covered all ES Short @ 795.4 --> + 0.2 «« paper »» 13:56 <john> Long ER2 @ 795.4 «« Scalp »» <RussellDaytrade> don't seem to have the disassociation to hold the position right now. 13:57 <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) 13:59 <jperl> I'm done for the day.... 14:01 had a lot of trades this afternoon...... 14:02 http://charts.dacharts.com/2006-11-16/JP ERL_016.png <szubaark> jperl you're a scalper at heart 14:03 <jperl> not really szu.... I like to have one long one rather than all these short ones but I take what I can get 14:04 On the short ones.... I don't stick around if I see even the slightest hint of a reversal that's why you see all those $5 trades <RussellDaytrade> eyeballin it, looks like up 300 or so. 14:05 <jperl> That looks about right I would rather have one 3 pointer <john> crap <RussellDaytrade> meant to study the trades to check out your style, but got stuck on the p/l instead, will do post analysis. 14:06 <szubaark> broker takes a lot on commissions <jperl> have fun RD <szubaark> Buys NQ @ 1807.75 «« paper »» <jperl> IB takes $4.80 round trip <john> in the hole 14:07 HD sold off <szubaark> John im down too.. and i dont like it M-T-W ive been Breakeven and now down today :( 14:08 <john> its coming up a little here HD showing support <szubaark> That wacko Opening hurt me where i took a 7 point loss on a Volatility Spike.. those HURT <john> volume <Brutus> ER and Es bounce of 1300 line 14:09 <john> Mr market is looking to make the most money possible 794 breakout to upside potentia;l <Brutus> But sell volume was large on that leg so look for continuation <szubaark> yup.. its a Tough gig.. especially if u dont have much experience. PROS TAKE ALL. <john> should retrace to 794 at least 14:10 Long ER2 @ 793.4 «« Scalp »» 14:11 <szubaark> Exited all Long NQ at 1805.25 --> - 2.5 «« paper »» 14:16 Shorts NQ @ 1805.25 «« paper »» Rebersing weird Price Action <Brutus> See the 500 contracts through that level <john> today will be losing day for me big time 14:17 <szubaark> im down like $400 thats way too much for me.. no food for whole week <john> I've got tha plus some more realized this whole week I've done bad now 14:18 ym retracing er2 being not nice to my longs <jperl> For those of you interested..... 14:30 here is the TotalMarket chart overlayed with ER2 chart for today... 14:31 http://charts.dacharts.com/2006-11-16/JP ERL_017.png red/green bars are TotalMarket.... blue/red are ER2 <john99> should move up this time or I'm done <jperl> I use the direction of the TotalMarket to confirm any thought about which direction I will take a trade 14:32 <szubaark> Covered all Short NQ at 1807 --> - 1.75 «« paper »» 14:35 that was REVANGE trade. Im done. 7 Trades Total 6 LOSERS/ 1 WINNER :(( 14:36 <pdays> low on oil...since june05 14:44 <john> holding 4 long 15:03 I'm in the hole, need a pt or 2 ym could break out 15:04 <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) 15:05 <john> yym 12348 breakout pt er2 under trendline 15:06 ym breakout 15:10 buy u guys come on smh new highs holding 4 long 15:11 <RussellDaytrade> may give you somew up play hereon the back of that volume just now <john> here we go 795 is my target 15:12 we could trend to the close smh new highs needs to take out 794 its gonna go 15:14 nq coming up fast nq could make new high we could get short covering to the close 15:15 still needs to break 794 <ItalianSharp> very tough day to trade <john> nop kidding <ItalianSharp> i exited NQ on 4 tick gain 15:16 BEFORE it made the move to 11 :( it had been bouncing off 1809 too many times so i took profit once it broke it didnt believe in this upmove <john> smh not selling off <ItalianSharp> unreal...its been too slow today really slow <john> holding long for potential closing rally <ItalianSharp> are u long? 15:17 <john> yes <ItalianSharp> i dont think tomorrow and next week is gonna get much better than this no news tomorrow, and next week is gonna be a short one due to thanksgiving...and no major news next week either 15:18 <john> here we go guys short covering will commence nq new highs in a short while <ItalianSharp> ER2 has been bearish today <john> I know, I should be in YM, but have no choice now 15:19 <ItalianSharp> YM the most bullish <john> holey moley, this is going to go up 15:20 <ItalianSharp> i am gonna short NQ again maybe...dont believe in this rally <john> good luck just the fuel I need for a push higher <ItalianSharp> i am gonna wait for my signal first 15:21 i am not shorting this out of the blue <john> 794 will breakout 15:22 <ItalianSharp> if ER2 breaks 94, we might see new highs <john> if it gets there <ItalianSharp> i was typing the same <john> I agree, need more buying here ym taking a break gathering more shorts before the run up <ItalianSharp> theres been major consolidation before this upmove...markets certainly didnt feel like making new lows today 15:23 here comes ER2 <john> here we go, come on, almost there smh needs to pop up <RussellDaytrade> the up vol is getting less thrust and less follow-thru each time 15:24 <john> 794 hit <ItalianSharp> either we go up, or we finish in chop...too much support now <john> selling at 795 for first cards <RussellDaytrade> start closing it, it may be short-lived <john> no way <ItalianSharp> er2 seems to have broken it <john> look at the volume <RussellDaytrade> this is the second chance 15:25 <john> buy buy buy <RussellDaytrade> close it take the hit <ItalianSharp> its a great battle in the trenches now 15:26 <john> more <RussellDaytrade> sorry, i'll leave you to it can't be praying for you every day. :) 15:27 <ItalianSharp> lol looking at the ES chart, i wonder how you make money trading it unless you scalp it of course 15:28 <john> where is the trend line 30 min to close more upside smh new highs <ItalianSharp> whats smh? semiconductor? 15:29 <john> yes 15:30 <ItalianSharp> here we go again <john> Exited 1/4 ER2 Long @ 794.3 --> + 0.9 «« Scalp »» 15:31 <ItalianSharp> some big hands pushing donw now or it might have been some profit taking 15:32 <john> ym coming up 15:39 <ItalianSharp> very very tough trading conditions today...i am glad i am still in the green in spite of the last big error i made 15:40 i cant believe i took profits at 1809 and 3 secs later it went all the way up to 1811.75 thats a 2.75 difference right there... after such an error, i am done for today cant trade efficiently re-thinking of that error...better take some rest and be fresh tomorrow...and learn to never close a position when the market is proving you right... 15:41 <john> 17min 15:43 <Brutus> Whats tomorrow - options expirey? <john> still holing 3 15:44 <pdays> yes 15:45 <ItalianSharp> arent options expiry supposed to bring some decent action? <john> here we go 15:46 my quotes got all messed up 15:48 <Brutus> IS what I understand you can get shap moves in the morning or 15:49 the morning is quiet and the afternoon brings some good action <ItalianSharp> ok...thanks brutus...lets just hope it doesnt turn into a low volatility type of day like today... 15:50 <Brutus> on 20 oct Er dropped 10 points in 1/2 hour so becareful fading any moves 15:51 So stocks options expiry occurs 3rd friday of every month? 15:52 <ItalianSharp> according to my strategy, i should be short NQ right now...but i am not entering short in the middle of the last chop...forget it... <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) 16:14 <yo> gn all 16:21 <NihabaAshi_away> Take care all and see all tomorrow. * DisconnectedSession Close: Thu Nov 16 16:21:46 2006 Trading Edge: Trading Strategies -> These strategies will reveal and explain specific strategies from entry to exit that exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments: Emini Index Futures (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), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI) Sponsor: Sponsor:
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