Session Start: Tue Nov 29 09:31:44 2005Session Ident: #futurestrades
* Now talking in #futurestrades09:31
<X> [NihabaAshi] Password, trade post script, trader profiles and trade journals are posted ONLY at the discussion forum at http://p207.ezboard.com/bthestrategylab
<coolweb> this market09:37

not ready to fall yet:)

hi szu09:38

good morning
<eminitrader>  Shorts ES @ 1264.75 09:39
<szubaark_> hi cool
<danshirley>  Shorts YM @ 10951 «« paper »» 09:40
exit stop set YM @ 10958 «« paper »»
<coolweb> no trading for me today, the open was not good09:43
<danshirley>  Covered 1/2 YM Short @ 10945 --> + 6 «« paper »»
exit stop moved to breakeven YM @ 10951 «« paper »»
Trailing Stop Hit YM @ 10951 --> 0 «« paper »» 09:44
<NihabaAshi>  Shorts ER2 @ 675.90 -> small size 09:45
<danshirley> european mrket gapped up..but only about half of yesterday's loss
<NihabaAshi>  exit stop moved to breakeven ER2 @ 675.90 09:46

 Trailing Stop Hit ER2 @ 675.90 --> 0 09:48
<jbraswell>  Shorts ES @ 1264.75 09:50
<les>  Long ER2 @ 676.4 09:54
<eminitrader>  Shorts ES @ 1265.75 -> Add
<NihabaAshi> Market is obviously now waiting on the 10am est key economic reports.09:55
<szubaark_>  Shorts YM @ 10957
<les>  Exited all ER2 Long @ 676.8 --> + 0.4 09:56
<danshirley> numbers in 309:57
<eminitrader>  Covered ES Short @ 1266.75 --> - 2 10:00

 Reverse and Enter Long ES @ 1266.75
<danshirley>  U.S. NOV. CONSUMER CONFIDENCE INDEX RISES TO 98.9 VS. 85.210:01
<szubaark_> crap my IB quotes just froze!
<danshirley>  U.S. OCT. NEW HOME SALES UP 13.0% TO RECORD 1.42 MLN UNITS10:02
U.S. SEPT. NEW HOME SALES REVISED TO 1.26 MLN VS 1.20 MLN
<eminitrader>  Exited 1/2 ES Long @ 1267.75 --> + 2
<danshirley> U.S. OCT. NEW HOME SALES PRICE UP 0.9% Y-0-Y TO $231K
Big jump in consumar confidence10:04
New home sales opposite to existing sales yesterday
Shorts YM @ 10966 «« paper »» 10:05
<eminitrader>  Exited ES Long @ 1267.25 --> + 0.5 10:07

 Reverse and Enter Short ES @ 1267.25

Covered 1/3 ES Short @ 1266.25 --> + 1 10:09
<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.10:10
<danshirley>  Covered 1/2 YM Short @ 10958 --> + 8 «« paper »» 10:12

 exit stop moved to breakeven YM @ 10966 «« paper »»
<eminitrader>  Covered 1/3 ES Short @ 1265.75 --> + 1.5 10:18
<danshirley>  Trailing Stop Hit YM @ 10966 --> 0 «« paper »» 10:19

 Shorts YM @ 10954 «« paper »» 10:24

 Covered 1/2 YM Short @ 10949 --> + 5 «« paper »» 10:25

 exit stop moved to breakeven YM @ 10954 «« paper »»

Trailing Stop Hit YM @ 10954 --> 0 «« paper »» 10:29
<eminitrader>  Covered Remainder ES Short @ 1265.25 --> + 2
<szubaark_> NQ gap closed10:35
<eminitrader> just watching that szu and ES has not even tested lod10:36
<szubaark_> Battle here at opening Price10:43

 Covered 1/2 YM Short @ 10937 --> + 20 11:07
<jbraswell>  Covered all ES Short @ 1262.75 --> + 2 11:12
Shorts ER2 @ 677.80
Covered all ER2 Short @ 676.30 --> + 1.5
<pat255> later guys ...ty all11:13
<jbraswell> did that one in between ES entry and exit
<szubaark_>  Covered all YM Short @ 10940 --> + 17 11:15

 Long YM @ 10942
<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.11:19
<jbraswell>  Long ES @ 1264.50 11:22
<szubaark_> Top of the channel sellers on YM11:24
<eminitrader>  Shorts ES @ 1264.75 11:31
<szubaark_>  Exited 1/2 YM Long @ 10952 --> + 10
<coolweb> szu: good day for szu , kicking ass and taking names today :)11:34
<jimmy>  Shorts NQ @ 1694 -> large size 11:41
exit stop set NQ @ 1698
<coolweb> jimmy: nice entry.11:45
<danshirley> euro mrkts close up .4%11:46
<coolweb>  Shorts NQ @ 1692.50 «« paper »» 11:48

testing

ideas

 Covered all NQ Short @ 1693 --> - 0.5 «« paper »» 11:49
<NihabaAshi>  Long YM @ 10957.00 -> small size 11:53
<szubaark_>  Exited all YM Long @ 10955 --> + 13 11:55

Exit cus gotta leave do some stuff.
<eminitrader> nice trading today szu have a good one
<szubaark_> thanx emini..u too. im still down for Week after yersturday's Brutal Chop.11:56
<eminitrader> i use bar charts
<coolweb>  Shorts NQ @ 1693.50 «« paper »»
<eminitrader> oops ... ignore11:57
<coolweb>  exit stop set NQ @ 1694.50 «« paper »»
<eminitrader> u still have 3 more days this week szu.. not to worry :)
<coolweb>  Shorts NQ @ 1692.50 -> Add «« paper »» 12:02

 exit stop set NQ @ 1694 «« paper »»
<jbraswell>  Exited all ES Long @ 1264.75 --> + 0.25 12:03
not what I wanted, but ER2 reached it's double bottom target already, and it's looking weak12:04
<eminitrader> wish we always get what we want :)
<jbraswell> well, I tried, and I got what I needed...to pay commish12:05
<eminitrader> :))
<coolweb>  Covered 1/2 NQ Short @ 1693.50 --> - 1 «« paper »» 12:06
Covered all NQ Short @ 1694 --> - 0.5 «« paper »»
<eminitrader>  Covered ES Short @ 1265.25 --> - 0.5

Reverse and Enter Long ES @ 1265.25
<coolweb> no direction price action :D12:07
<eminitrader> yep better to toss a coin now.. will wait until after lunch12:08

 Exited all ES Long @ 1264.25 --> - 1 12:14
<jimmy>  Covered 3/4 NQ Short @ 1692.50 --> + 1.5 12:15
exit stop lowered NQ @ 1695 12:16
<coolweb>  Shorts NQ @ 10942 «« paper »» 12:25

bbl , enough paper trading :)12:26

 Covered all NQ Short @ 10943 --> - 1 «« paper »» 12:27
<jbraswell>  Shorts ER2 @ 676.10 12:29
<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.12:31
<jimmy>  Covered Remainder NQ Short @ 1688.50 --> + 5.5 12:37
<NihabaAshi>  Exited YM Long @ 10932.00 --> - 25 13:14
<jbraswell> i'm looking for 674.20 here on er213:30
Covered all ER2 Short @ 674.20 --> + 1.9
i think we could go much lower, but today's low is alwasy good target, methinks13:31
<GoodMood>  Covered all DAX Short @ 5199 --> + 4 «« paper »»
<PapaJon> nice hold jbraswell... :)13:34
<jbraswell> thank you. Today I shuffle off the fetid coil of trading over these past couple of weeks, as I finally exceeded my 10/28 high.13:35
<coolweb> good trading jbras :)
<NihabaAshi>  Shorts YM @ 10915.00 -> large size 13:36
<jbraswell> thx, cool13:39
<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.13:43
<NihabaAshi>  Covered all YM Short @ 10914.00 --> + 1 13:54
Long YM @ 10916.00 -> small size 13:57
Exited YM Long @ 10920.00 --> + 4 13:59
I may just call it quits here for the day and walk away with a -18 on YM...14:01
Not willing to put up some size because its late in the month and I want to protect my YM profits for the month.14:02
My trend bias is BEARISH14:03
Same bias for ER2, ES and EuroFX14:05
<coolweb> i'm not biased short yet14:21

but I'm definately looking to short 1-2 week time frame14:22
<NihabaAshi>  Shorts YM @ 10911.00 14:23
A 10904 gets me profitable for the day.14:24
Its a 3 Lot trade...still not willing to put any size until next week.14:25
coolweb...my bia doesn't tell me to Short or Long...
bia = bias
<coolweb> I see

what does it tell you
<NihabaAshi> It tells me how to manage my position size.14:26
<coolweb> oh

thats cool

very
<NihabaAshi> Simply, I'll go Long in a BEARISH environment or vice versa.
<GoodMood> Niha: What do you base your bias on ?
<NihabaAshi> I just won't go Long with some size in comparison to my Shorts.
Market Volatility VIX/VXN in relationship to the Eminis...14:27
<GoodMood> ok
<NihabaAshi> If the Eminis are making a bunch of lower highs...I want to see VIX and VXN be making a bunch of higher lows.14:28
If only VIX supports what I see in the Eminis while the VXN doesn't...
I'm neutral.
Therefore, my bias can change throughout the trading day and I only use a chart interval of 15min and higher to help determine my bias.14:29
<GoodMood> thx for the insight !14:30
<NihabaAshi>  Covered YM Short @ 10917.00 --> - 6 14:35
Reverse and Enter Long YM @ 10917.00
<coolweb> when I have a bias14:36

short bias, I would never go long :) becaxuse risk reward is skewed

not to mention I'm looking for big point gains, so riding against the currents, never big point gains14:37

for ym, the retraces are usually 10 points

that I've seen when against the current, or very choppy, just not tradeable for my style :)14:38
<NihabaAshi> I only look for big point gains on certain trading days...
Today is not one of them.
Is normally tough trading between the week of Thanksgiving and the first trading day of December.14:39
<coolweb> I see

You do all these stats by hand? :)
<NihabaAshi> If I caught something big in that time duration...I'll consider it a lucky trade.14:40
coolweb...I keep a detailed trading journal that doesn't include any stats that most traders follow...14:41
I can review my Thanksgiving holiday trading and charts going all the way back to 1989 when I started maintaining a journal.14:43
Need a 10930 to be profitable for the day...14:44
If it reaches that level...will hold a little longer because I expect it to push through and above that 1093014:45
Will be a little surprise because I expect a Short position today to make me profitable...not a Long position.
Exited all YM Long @ 10940.00 --> + 23 14:46
I didn't want to do any "flipping" of the trade positions today but when I saw that White Hammer while in that Short...14:48
Figure it was a good time to "flip" (reverse my trade) from that losing Short into a Long position.
<coolweb> good long niha, was a surprise action for me as well, but we are in chop zone right now, so I'm sure they are having good fun killing shorts in the range :)14:53
<NihabaAshi> That makes up for the trading I missed between 1005am - 1150pm est via doing a lot of personal stuff.
<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.14:55
<GoodMood> Niha: On what timeframe did you see this white hammer ?15:00
1min ?15:02
<NihabaAshi> 3min YM CBOT chart

Not YM CME chart times.15:03

Thus, White Hammer formed (closed) at 1432pm est (CBOT chart).
<GoodMood> YM trades at CBot
<NihabaAshi> Not 1433pm es CME chart.
<GoodMood> aha
<NihabaAshi> Yes...but many charting programs don't use the CBOT time...15:04

They use the CME times to keep YM in sync with ER2, ES and NQ that trades on the CME.
<GoodMood> Whats the reason for CBot to use other times ?15:05
so you are using blending....15:06
<NihabaAshi> Blending ?15:07
<GoodMood> candle-blending15:08
using 1min chart and combining 3 candles....15:09
<NihabaAshi> No...I used a 3min chart interval.

If you don't see odd number chart times like 1259, 1329, 1429pm on your chart...

Then your using CME time for your YM and not the CBOT time for YM.15:10
<GoodMood> Unfortuantely my charting program can't change the time to CBOT
<NihabaAshi> Ah...so that's why you were "blending" your 1min intervals to see the White Hammer on the 3min interval.15:11

Well...just remember that when trading YM...the guys moving it are viewing CBOT times.
<GoodMood> ok, thx !15:12
Can you think of any other instrument using a different time scale ?
<NihabaAshi> EuroFX, Treasuries and others.

U.S. Dollar

All of them are via the CBOT chart time.15:13
<GoodMood> aha
<NihabaAshi> However, not sure why EuroFX is using the CBOT chart time when it trades on the CME.
<GoodMood> sound strange to me
are you really serious ???
<NihabaAshi> Yes...

In the past few years while visiting the offices of some friends that trades for institutions...15:14

I noticed something odd in the chart times on their charts in comparison to the start times on my charts...

Their YM started at 0820am est...when my started at 0930am est15:15

I played around with my charts and found a setting to change it to the "actual" start time for YM.
<GoodMood> Yes, I noticed on futuresource.com that YM (10 $) starts at 0720 am Chicago time
but my charting program "corrects" this to CME time intervalls...15:16
<NihabaAshi> The difference in start times or times of the chart intervals is not a big deal as long as you don't use Candlestick patterns.

However, if your going to use Japanese Candlesticks...15:17

You better be using the same chart intervals (chart times) as the institutions or those that have a great impact on what you trade.
<GoodMood> Does futuresource allow this change to CBOT time ?15:18
<NihabaAshi> Futuresource is default on CBOT products.

Meaning...their YM is via CBOT time.

In reference to their delayed data at their website and their FutureSource Workstation software...15:19

Not sure about their other software.
<GoodMood> so they offer different products: website / workstation Which one do you use ?15:20
<NihabaAshi> Both...website and the European Workstation package.

Actually its called the "International" package.15:21

Workstation is two packages...North American and International.

My contract with FutureSource expires in a few months...15:23

I'll be switching to CGQ because FutureSource has suffered (not as good anymore) when the parent company of Esignal purchased FutureSource.15:24
<GoodMood> The CQG integrated platform ?15:25
or just the Web Trader ?15:26
Niha ?15:30
<NihabaAshi> CQG Integrated platform is what I'm leaning towards.15:34
<GoodMood> ok15:35
<danshirley> MarketWatch) -- Crude oil prices extended their recent slide, with the front-month futures contract closing at the lowest price per barrel in nearly 6 months, despite a gain in natural gas prices, a day before government reports are expected to reveal the first sizable inventory declines of the season for both commodities.15:36
<GoodMood> I'm using ProRealTime
<NihabaAshi> I like them...just waiting for them to get a stand alone charting program.
<coolweb> Nihabaashi: This platform you are talking about15:37
<NihabaAshi> When they do...I'll dump my backup program (QCharts) and make ProRealtime my backup.
<coolweb> Nihabashi: whats the pros of it? I mean is it just charting and data?
<NihabaAshi> CQG or ProRealtime ?
<coolweb> CQG15:38
<NihabaAshi> I believe CQG has 3-4 different products...some broker integrated and others just charting.
<coolweb> hmm15:39
<NihabaAshi> I've never used them...just sat by others that used the CQG products.
<coolweb> so basically just data and charts?
because I hear a lot of people using that
and I think CQG must be like $500 a month at least
ain't it?
<NihabaAshi> The none integrated ones...I think its just data and charts.

The integrated ones have more functions...coding, order executions and such.
<coolweb> I see15:40
how much are they per month? ballpark
I even seen Xtrader going at $1000 a month
<NihabaAshi> $500\

I've heard of one guy getting it for $385 but I don't know who he's with or if its some scaled down version.15:41
<coolweb> Niha: have you checked out the other charting/data packages?15:42
lets say from prophet.net
or things like that
<NihabaAshi> I used Bloomberg for 2 years with 3 other traders when we shared an office space...

We had a special deal...$2400 per month for all three terminals :)15:43
<coolweb> hehehahaha
I think you know what15:44
I think like most people still pay those rates because those were the rates pros use to pay for the past 10 years
sort of legacy rates
don't you think so?
<NihabaAshi> Could be...
<coolweb> so they continue to use the product since they are use to it
<NihabaAshi> Today...depending upon whom we have as a broker and such...

Something that's about $1000 per month can be had for a few hundred as long as we maintain a volume of trade activity.15:45

I think XTrader is one of those products...
<coolweb> Niha: are you subscribing as a pro?
<NihabaAshi> No...I subscribe as retail only.15:46
<coolweb> yah same here, seen pro prices really jacked up :)
"oh , he must be making money, lets charge him 2x retail"
<NihabaAshi> :)
<coolweb> I have this kind of setup right now15:47
2 IB accounts, 1 main , 1 just for datafeed on my Computer #2
Quotetracker subscription using IB feed, Computer #2
Prophet.net subscription , for ticker + $INDU chart realtime volume 3 min
on my laptop that is
Tradestation 8.1 , 2nd screen of computer #215:48
laptop : order screen for IB + Buttontrader Standard
aroud $200 a month
for the setup
or $235
only prophet.net15:49
provides
real time $INDU volume
which I find very useful
<NihabaAshi> coolweb...before I switch to CQG...I will test drive TradeStation.15:52

I used it before when they first allowed trading through them instead of just being a charting program.15:53
<coolweb> they charging like $100 a month or free if you use them as a broker15:57
so money really
my workhorse15:58
how you like the YM price action today16:00
sort of obvious really, big chop zone
good thing you captured quick profits onthat long YM16:01
<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.16:04
<NihabaAshi> coolweb...I wasn't really in tune with YM today other knowing it would push down stronger today in comparison to any upmoves due to my trend bias being BEARISH...16:35
I wasn't here to monitor/trade that key price action between 1005pm - 1150pm est...16:36
Had I been here...I would have been more prepared to Short the lower high that occurred soon after my second trade of the day...that Long position which I took a hit of -25 points on that contract.16:37
I thought it would hold through the lunch period without going into a -15...
The -25 point stop is what I use just in case there's a "fat finger trade error" at the exchange.16:38
Other than that...I didn't like that time periods that had available for trading today.16:39
<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.17:16
* NihabaAshi is now known as NihabaAshi_away17:21
* DisconnectedSession Close: Tue Nov 29 22:56:07 200517:22