Session Start: Mon Nov 21 09:30:54 2005Session Ident: #futurestrades
* Now talking in #futurestrades09:30
<X> [NihabaAshi] Password, trade post script, trader profiles and trade journals are posted ONLY at the discussion forum at http://p207.ezboard.com/bthestrategylab
#FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.09:36
<NihabaAshi>  Shorts ES @ 1249.75 -> large size 09:37

 Covered all ES Short @ 1250.50 --> - 0.75 09:40

 Shorts ES @ 1249.75 -> large size 09:47

Looks like its gonna be a shallow pt1 :(09:53

May hold a little longer and try to get an extra tick to compensate for the small pt109:54

 exit stop moved to breakeven ES @ 1249.75 09:56
<TLTrader>  Shorts YM @ 10782
<NihabaAshi>  Trailing Stop Hit ES @ 1249.75 --> 0 10:01
<jbraswell>  Long ER2 @ 670.40 10:02
<danshirley>  U.S. OCT. LEADING ECONOMIC INDICATORS UP 0.9%10:03

7 OUT OF 10 U.S. LEADING INDICATORS RISE IN OCT.

Conf Board: economy expanding moderately10:05
<NihabaAshi>  Long ES @ 1250.50 -> large size 10:07
<eminitrader>  Shorts ES @ 1250.25
<jbraswell> *snore*10:09
<NihabaAshi> EuroFX dropping hard.10:14
<danshirley> wow..euro really dipping
<NihabaAshi> stopped out :(10:15
<jbraswell>  exit stop raised ER2 @ 670.40
<NihabaAshi>  Exited all ES Long @ 1250.75 --> + 0.25
* NihabaAshi is now known as NihabaAshi_away10:17
<jbraswell>  Exited all ER2 Long @ 670.40 --> 0 10:18
<eminitrader>  Covered 1/2 ES Short @ 1249.75 --> + 0.5 10:20
Covered Remainder ES Short @ 1250.25 --> 0 10:21
hope these r not signs of how the mrkts going to trade all week10:23
<jbraswell>  Long ES @ 1251 10:28

 Exited all ES Long @ 1251 --> 0 10:30
<eminitrader>  Shorts ES @ 1250.75 10:32
Covered ES Short @ 1251.75 --> - 1 10:35
Reverse and Enter Long ES @ 1251.75
<NihabaAshi_away>  Long ES @ 1252.00 -> large size 10:46
* NihabaAshi_away is now known as NihabaAshi10:47
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.10:48
<jbraswell>  Shorts ER2 @ 673.20 10:49
Covered all ER2 Short @ 674.30 --> - 1.1 10:52
<eminitrader>  Exited 1/2 ES Long @ 1252.75 --> + 1
<NihabaAshi>  exit stop raised ES @ 1252.25 10:54
Exited 2/3 ES Long @ 1253.25 --> + 1.25
<eminitrader>  Exited 1/3 ES Long @ 1253.75 --> + 2 10:56
<jbraswell>  Long ES @ 1253 10:57
<NihabaAshi> Although there's a dip in prices soon after the open...the overall price action today is just "bullish continuation" price action from yesterday...11:03

Easy to see in hindsight :(
<WannaBeBOS> isnt that always the way?11:05
holidays always have a bullish pattern
<eminitrader>  Exited ES Long @ 1253.25 --> + 1.5 11:13

 Reverse and Enter Short ES @ 1253.25
<pdays>  Shorts ER2 @ 674.7 «« paper »»
<coolweb> nasdaq the index thats leading

today
<les>  Shorts ER2 @ 674.3 11:14
<NihabaAshi> Geesh...another stop out.11:15

 Trailing Stop Hit ES @ 1252.25 --> + 0.25
<les>  Covered 1/2 ER2 Short @ 673.8 --> + 0.5
<eminitrader>  Covered 1/2 ES Short @ 1251.75 --> + 1.5
<pdays>  Covered all ER2 Short @ 673.7 --> + 1 «« paper »» 11:17
<les>  exit stop moved to breakeven ER2 @ 674.3

Trailing Stop Hit ER2 @ 674.3 --> 0 11:30
<eminitrader>  Covered 1/3 ES Short @ 1250.75 --> + 2.5 11:39
<szubaark_> nice emini11:40
<TLTrader>  Shorts YM @ 10795 -> Add
<eminitrader> thx szu11:41
<szubaark_> i missed this morning due to a appointment :(
<eminitrader> dont worry too much....11:42

 Covered Remainder ES Short @ 1251.75 --> + 1.5 11:45
<szubaark_>  Long YM @ 10803 11:46
<mispe>  Shorts YM @ 10802 11:47

 Covered all YM Short @ 10806 --> - 4 11:52
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.12:00
<pat255> dang er2 made shrp V move after that low in the am...12:03
<m618> good day all12:06
<jbraswell>  Exited all ES Long @ 1252.75 --> - 0.25 12:08

late on that
<NihabaAshi>  Shorts ES @ 1250.75 -> small size 12:09
<eminitrader>  Long ES @ 1250.50 12:10
<szubaark_> NQ Double Bottom making me hold this long12:15
<eminitrader> mine was a ma set-up (w/tight stop..).12:16

usually these bounces test the highs12:17

or lows :))
<szubaark_>  Exited all YM Long @ 10791 --> - 12 12:19
<eminitrader>  Exited 1/3 ES Long @ 1251.50 --> + 1 12:20
<szubaark_>  Long YM @ 10798 12:21
lets try this again
<jbraswell>  Long ES @ 1252.75 12:25

wrong12:26

 Long ES @ 1252.25
<NihabaAshi> Being very careful not to churn my account (over trading) and not trying to look for big points today with this type of price action...12:29
Be back later...have stop at a price that puts my day at breakeven.12:30
exit stop set ES @ 1252.75
Will post late trade post if stop is hit on the contract.
<szubaark_>  Exited all YM Long @ 10798 --> 0 12:31

frikin Chop
* NihabaAshi is now known as NihabaAshi_lunch
<coolweb>  Long NQ @ 10802 12:43

zstop 10801
<eminitrader>  Exited 1/3 ES Long @ 1252.25 --> + 1.75 12:44
<coolweb> stop 1080212:45

stoped breakeven 1080212:51
<szubaark_>  Shorts YM @ 10802 12:52
cool u Long im Short
<coolweb> i'm not long either anymore :)

waiting for long again12:55
<jbraswell> It's too bad I'm engaged. Every time I see Melissa Frances on CNBC, I want to go ask her on a date.12:56
<eminitrader> :)
<WannaBeBOS> melissa is ok13:02
when i took her out, she was kinda boring13:03
:)
<eminitrader>  Exited Remainder ES Long @ 1251.50 --> + 1 13:06
<jbraswell>  Exited all ES Long @ 1251.25 --> - 1 13:07
er2 coming off after a new high13:08
<coolweb> wilder beast
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.13:09
<coolweb>  Long NQ @ 10803 13:28
<szubaark_> cool u fading me?
<coolweb> trading my idea :)

breakout time13:29

stop 10802

stop 10803 breakeven13:30
<szubaark_>  Covered all YM Short @ 10814 --> - 12 13:40
Long YM @ 10814
man i suck today13:41
missed morning now cant find my rhythm
<coolweb> stopped out 10803 +1 heheh loser market13:42
<szubaark_>  Exited all YM Long @ 10805 --> - 9 13:47
Shorts YM @ 10805 13:48
lets see if bastids break this uptrendline13:50
<coolweb> no more trading for me today

long 1080313:52

stop 1080313:53
* NihabaAshi_lunch is now known as NihabaAshi
<coolweb> breakout time please
<NihabaAshi> late trade post...13:54
<coolweb> nihabashi: me?
<NihabaAshi> stop hit soon after 12:56
Trailing Stop Hit ES @ 1252.75 --> - 2
Long ES @ 1253.25 -> large size 13:55
<szubaark_>  Covered all YM Short @ 10815 --> - 10 13:58

im done.. got Whacked today

no followthru chop tough to trade13:59
<coolweb>  Exited 1/4 NQ Long @ 10814 --> + 11 14:04
2:00 huh14:06
ok
automatic stops 10805 rest14:07
<eminitrader>  Shorts ES @ 1253
<pat255> so slow that you can't get any feel of what it will do next14:08
<coolweb> long bias14:09
<NihabaAshi> EuroFX looked dead since 1130am est...its now starting to show a little life but too late in the day in my opinion for EuroFX.14:11
<coolweb> stop 1080714:12
<pat255> niha u looking on the L side on eur?
<NihabaAshi> No...short side bias on EuroFX.14:13
<pat255> ah ha k...thks
<NihabaAshi> I've had a short bias on Euro since March 2005
<pat255> gl it fell of the cliff prolly in July / Aug from 1.2550 or so..14:15
<NihabaAshi>  Exited ES Long @ 1252.50 --> - 0.75

Reverse and Enter Short ES @ 1252.50
<coolweb>  Exited all NQ Long @ 10808 --> + 5 14:16
looking forh ome runs hitting singles, not good
<NihabaAshi> Yeah...that 1.2550 area was like a "bearish continuation" signal to me.
<pat255> oh man this eur can be moneymaker if u are on theright side..14:18
<coolweb> i need to read mor about buttontrader, hard to use splitting contracts

anybody use BT?
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.
<pat255> niha pl post your trades on eur if u can ...ty

L ym 714:19

let me c if i can scalp 4-5 pts on this ...
<coolweb> dead cat bounce imo14:20
<pat255> barely 20 pts range here on ym sigh
<coolweb> yeah
lame today
zZzzz
<pat255> out 12 ..+514:23
<coolweb> nice!14:24
<pat255> so hard to even scalp this ..no movemet14:25
<NihabaAshi> tightening up my stops...14:26
<coolweb> market has issues

on this rally
<NihabaAshi>  Covered ES Short @ 1253.50 --> - 1 14:27
Reverse and Enter Long ES @ 1253.50
Long ES @ 1253.50 -> Add
<szubaark_> one of the tightest days i can remember in a while14:28
<NihabaAshi> szu...its Thanksgiving week...this is normal trading conditions for such a week.
Not worth churning nor pushing it too hard.
Trading will improve next week.
<szubaark_> yes. U always mention Volatility is your friend, today is a good example14:29
<NihabaAshi> I'm down -7 ES points for the day...need at least a 1254.75 to be profitable for the day.14:31
If I don't get it...will only trade the first few hours of the morning session for the remaining of the week...14:32
Not worth pushing it too hard this week.
<eminitrader>  Covered 1/2 ES Short @ 1253 --> 0 14:33
<coolweb> thanksgiving thursday right?
<NihabaAshi> Yes...U.S. Thanksgiving is Thursday.14:35
<coolweb> cool14:38
I'm going to boston market and get their pre-cooked turkey meal14:39
$35
<szubaark_>  Shorts YM @ 10811
<eminitrader>  Covered Remainder ES Short @ 1253 --> 0 14:41
<coolweb>  Long NQ @ 10814 14:46

 Exited all NQ Long @ 10813 --> - 1 14:48

ok no more trading today14:52

szubaark: short looking good14:55

I wouldn't long14:56
<NihabaAshi> Anybody watching the developing NIKE corporate jet in trouble over Oregon...its trying to make an emergency landing...14:57
Rumor NIKE CEO is on board.
<PapaJon> yah... I thought they said he was not on board.14:58
<szubaark_>  Covered all YM Short @ 10815 --> - 4 15:03
<NihabaAshi> Bond markets now closed.
<szubaark_> Ok.. Im DONE now.
<PapaJon> now they say that he is...15:04
<NihabaAshi> Landing gear is now down on the plane and plane is schedule to land soon according to CNN that's following it live.
<PapaJon> yep15:05
<NihabaAshi> another stop out :(15:17
Exited all ES Long @ 1253.75 --> + 0.5
Missed a pt1 by 1 tick :(15:18
<coolweb> niha: I hear yah15:21
<NihabaAshi> Today is just a "bullish continuation" since Friday 1230pm est.15:22
Continuation stuff is usually the toughest stuff to trade unless you can figure out the direction early on in the day and then do a Position Trade.15:23
Long ES @ 1254.25 -> large size 15:24
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.15:27
<NihabaAshi> Another tap at 1254.7515:29
szu...another phrase for "continuation" price action is "creeper" trends...15:32
That's when those using indicators will see something "stuck" in either oversold or overbought areas for the indicators.15:33
<pat255> exactly ...15:34
<NihabaAshi>  Exited all ES Long @ 1256.25 --> + 2 15:36
<pat255> nice niha last trade even better...
<NihabaAshi> Geesh...took almost the entire trading day to catch a pt1 with a large size :(
A lot of work.
<coolweb> speaking of creeper trends15:38
<WannaBeBOS> lots of work indeed15:39
<coolweb> stops have to be correctly placed on these days

creeper days, they sweep very low15:40

but not too low

my greediness for 3 ticks(uselesss) costs me 40 points,15:41

a Lesson a day, is the million dollar way15:43
<pat255> k guys c u all later ty16:05
<coolweb> p[laying around with buttontrader16:15

this thing is greaat

i orderexd zeroonlinetrader as well

not as good

:<
<NihabaAshi> I'll go into tomorrow's trading session with a Bullish Bias in the Eminis, Eurex and Euronext. Short Bias still in EuroFX...16:19
Trend is still obvious via the 60min chart.
<coolweb> niha: Nice, i'll figure out the trend tomorrow @ 11 I hope :D16:20

niha: how do you like trading ES16:22
<WannaBeBOS> they are squeezing the shorts with a typical holiday rally
<coolweb> compared to YM

nihaaa! :D ?16:28
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.16:39
<NihabaAshi> [16:22] <coolweb> niha: how do you like trading ES16:48

Just finish up with my Market Wrap info...
<coolweb> whats that?
<NihabaAshi> coolweb...many years ago it was the only thing I traded and I did such with some very large sizes.16:49
<coolweb> do you find the movements move similar to YM?
<NihabaAshi> When market conditions changed...I dramatically reduced my position size and started trading additional trading instruments so that I can be more diversified and not stuck in ONE market type.

No.16:50
<coolweb> which way do you find it different?
<NihabaAshi> I think ES of yester-years is similar to DAX and FTSE-100

YM reverses too quick...16:51

ES was never like that.
<coolweb> so you mean YM holds gains?
I mean
ES holds gains
<NihabaAshi> Yes...it use to.
<coolweb> and YMs retraces quicker
<NihabaAshi> Now...it just creeps along until it finds a groove to move several points...

Then creeps along again.16:52
<coolweb> Nihaba: I see
<NihabaAshi> Thus, ES is good for "position traders" looking for 1-3 trades per day.
<coolweb> Nihaba: I see, So right now DAX doesn't retrace?
thats quite interesting hahaha :D
<NihabaAshi> Of course it retraces...
<coolweb> but not as much?16:53
<NihabaAshi> Everything retraces.

It's just a little more predictable than YM.
<coolweb> I see, thats cool
How do you like the tick size in ES
$12.50 per tick hmm has me hmming
:D
<NihabaAshi> I don't.
<coolweb> ah good , same here16:54
<WannaBeBOS> they need to move it to .10 ticks like the "big" contract
<NihabaAshi> Agree.
<WannaBeBOS> tick = $5

thats a big reason the ER2 has become popular
<coolweb> The ER2 is a bit too wild for me, $10 per tick, that thing moves like 1 point per 3 min bar16:55
nihaba: Do you wake up in the morning to trade FTSE / DAX ?16:56
<WannaBeBOS> your stops have to be well researched
<coolweb> WannaBeBOS: yes
<NihabaAshi> Not anymore...I just watch it in realtime here and there to prevent losing a feel for it.16:57

Just started back to trading EuroFX and will soon return to trading Eurex and Euronext.
<coolweb> niha: you use your same methods on YM to trade euroFX right?
niha: So I have an idea, its like this. The more undeveloped/ newer a market is, the better its likely to trend without too many profit takers ,, what do you think of that theory?16:58
<NihabaAshi> [16:57] <coolweb> niha: you use your same methods on YM to trade euroFX right?17:13

[16:58] <coolweb> niha: So I have an idea, its like this. The more undeveloped/ newer a market is, the better its likely to trend without too many profit takers ,, what do you think of that theory?

Yes...but EuroFX has an added feature to it...17:14

With EuroFX...I have to monitor the price action of the U.S. Dollar Index

I don't need to do that for YM.

I think all markets trend...17:15

Just the newer ones (less big boy participants) will take off or trend faster.17:16

Thus, if someone is a trend trader and if they actually look at the tick size (dollar amount)...

Most markets are suitable for trend trading.17:17

It also comes down to SIZE.17:19

If someone is trading some VERY LARGE size...

YM and ER2 is not the place to be trading.

ES and NQ is more suitable.
<coolweb> Yes, YM and er2's is around 20-40 contracts17:20
thats cool
nihaba: interesting you trade eurofx though, I see you just use price action no extraneous things, which is what I do now as well, no need for any other indicators it seems17:21
<NihabaAshi> I trade EuroFX because I'm more tuned in with its price action than I am with the Eminis.17:23
<coolweb> whats the symbol for it?
<NihabaAshi> EC

Depending upon the charting program or broker...
<coolweb> its a future? or option?17:24
<NihabaAshi> It could be using contract codes like T or Z/

Z

Its a Future.

Traded on the CME.

Not sure if there are options for it.17:25

Dinner time for me...

See all tomorrow.
* NihabaAshi is now known as NihabaAshi_away
<coolweb> alright see yah niha17:26

:)
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.17:51
#FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.19:03
* DisconnectedSession Close: Mon Nov 21 19:22:16 200519:22