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#FuturesTrades December 15th Friday 2006 Trade Log

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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.

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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).

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ER2 EuroFX EC

+2.70 +0.0000

$270.00 $0.00

Quadruple Witching

Profit/Loss Blotter

Horrible trading day after a very good start.

Trade order errors are one of those things that can ruin a trading day and today I made 3 consecutive trade order errors that took away most of my profits along from preventing today from being my best trading day of the week.

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 December...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.com
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: Fri Dec 15 09:29:22 2006Session Ident: #futurestrades

* Now #FuturesTrades purpose and benefits...click here. 09:29

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<jperl> ER2 VWAP data as follows:

yesterday: 803.38 09:30

1 week: 799.28

<pat255> gm miha...

<jperl> 1 month: 798.07

1 year: 735.62

<Apex82> here comes the sell off 09:31

GOd damn im good

<NihabaAshi> I'm bearish this morning. 09:32

<szubaark-away> Buys NQ @ 1841.50 «« paper »» 09:33

exit stop set NQ @ 1841.50 «« paper »» 09:34

<Apex82> buying 803.60 small size on er2 if new highs are not made 09:35

add on at 803

<pdays> Shorts ER2 @ 804.7 09:36

<szubaark-away> Exited all Long NQ at 1841.50 --> 0 «« paper »»

Shorts NQ @ 1841.50 «« paper »»

<pdays> Covered all ER2 Short @ 804.2 --> + 0.5 09:37

<NihabaAshi> Shorts ER2 @ 804.20 -> large size «« simulator »»

Oooops...not a simulator trade...forgot to change back over. 09:38

<szubaark-away> Covered all Short NQ at 1839 --> + 2.5 «« paper »»

<Chilly> Shorts ER2 @ 804.20

<NihabaAshi> Covered 2/3 ER2 Short @ 803.00 --> + 1.2 09:39

<Apex82> stopped out -1.3 pts

<Chilly> Covered all ER2 Short @ 802.10 --> + 2.1

<eminitrader> Long ES @ 1440.50 -> Add

<PapaJon> nice one chilly, niha 09:40

<Chilly> thanks Papa

<PapaJon> :)

<szubaark-away> Shorts NQ @ 1834.25 «« paper »» 09:41

<NihabaAshi> Covered Remainder ER2 Short @ 803.50 --> + 0.7 09:42

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<Apex82> ES potentially completing bearish wedge which adds to bearish bias on the day 09:43

<jperl> ER2 at VWAP 803.72 09:46

<pat255> thks jp...sitting here\ 09:47

<NihabaAshi> Shorts ER2 @ 803.30 -> small size 09:48

<jperl> yw

<RussellDaytrade> time for the magnetic effect switch in polarity on vwap back towards weekly values? 09:49

<NihabaAshi> Geesh :( 09:50

It just doesn't want to break down.

<szubaark-away> YM holding

<NihabaAshi> Covered ER2 Short @ 804.20 --> - 0.9 09:51

Reverse and Enter Long ER2 @ 804.20

<les> Long ER2 @ 804.2 09:52

<Apex82> i wouldnt chase this market guys.....

<Chilly> 3 inside up on ER2 5m triggers on outside bar .. longs need follow thru, imho

<jperl> TotalMarket at VWAP from below 09:53

<Chilly> or they're toast?

<NihabaAshi> Waiting for an ADD signal...nothing 09:54

<szubaark-away> i was looking for Gap close by now 09:55

<NihabaAshi> Volatility is declining now...not yet to the point for a volatility spike. 09:56

<les> Exited all ER2 Long @ 804.2 --> 0

entru mistake, glad i got out

entry

<RussellDaytrade> valiant little skirmish by longs, feels like thats about it

<NihabaAshi> Exited all ER2 Long @ 804.70 --> + 0.5 09:59

Shorts ER2 @ 804.00 -> large size 10:00

NO follow-through to WRB pt2 levels...just pt1 levels. 10:01

<jperl> ER2 just oscillating around VWAP 803.80 10:02

<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)

<Apex82> sell off coming now?

looking for a move to 1435-1436 area 10:04

<NihabaAshi> So far...its just noise...trying to get some points out of the noise.

<Apex82> where I will conider looking at getting long

<eminitrader> Long ES @ 1441.50 -> Add

<NihabaAshi> Covered 1/2 ER2 Short @ 803.20 --> + 0.8

<Apex82> may be next week for that

<NihabaAshi> I got my profit goal for the day...will go to 1 contract trading for the remainder of the day. 10:05

Covered Remainder ER2 Short @ 803.90 --> + 0.1

<pat255> vn niha ...on exp day not bad.. 10:06

<NihabaAshi> The losing trade today was on a very small size... 10:09

Thus, position size management is the only reason why I've reached my goal for the day so soon.

<yo> gm niha ,all 10:10

<Apex82> HI and low for day? lol

<PapaJon> ugh.. hope not 10:11

<Apex82> haha

anyone watching the EURO?

<NihabaAshi> Yep...its help so far this morning with a little about Emini volatility levels. 10:12

Actually, its CME EuroFX EC I'm watching...always do. 10:13

<Apex82> ya

do you trade it?

<NihabaAshi> Yes...sometimes...will go fulltime in it whenever ER2 dries up. 10:14

<Apex82> ya its nice

<NihabaAshi> Dries Up implies the volatility is no longer tradable.

<Apex82> spiky at times though

<PapaJon> Heres a little end of the week humor for any of you Lou Rawls fans... http://www.veritashomeinspection.com/doc torlou.wmv 10:17

<szubaark-away> still looking for gap close 10:19

<eminitrader> Exited all ES Long @ 1441.50 --> - 0.5 10:20

<pat255> :( 10:21

<eminitrader> actually + 0.5 10:22

but still :(

<NihabaAshi> Volatility is declining...expecting a volatility spike soon.

<pat255> k...gren is good...

green

<eminitrader> :)

<szubaark-away> emini that last bounce was yersturdays highs buyers

<eminitrader> prolly szu 10:23

<jperl> TotalMarket sitting on it own VWAP....not doing anything....

here's a chart of it...

<eminitrader> wls still ne long here nice set-up

<jperl> http://charts.dacharts.com/2006-12-15/JP ERL_0113.png

<eminitrader> Long ES @ 1441.50 10:24

<szubaark-away> 1443 Resistance.. if holds again could be fast Drop to gap close

<NihabaAshi> Long ER2 @ 803.80 -> small size

<eminitrader> nq being a drah the lat few days ... 10:25

drah = drag

<ItalianSharp> looks like YM is holding everyone else from dropping

terrible price action though 10:26

<eminitrader> ES very stron too

<szubaark-away> story so far this month, quick morning Volatility spikes then Chop rest of day :(( 10:27

probobly institutions make their move in the morning then retail fighting each other for every tick 10:28

<eminitrader> NQ frozen ??

<les> ok here em 10:29

<NihabaAshi> Emini...that's not a good sign for me :(

<PapaJon> yes.. ok here too et

<ItalianSharp> szu, what move did institutionals make this morning? i cant see any move yet...2 dojis in ER2 15min chart

<szubaark-away> emini.. that sucker will freeze and wait for ES,ER

<eminitrader> Exited ES Long @ 1441.75 --> + 0.25

Reverse and Enter Short ES @ 1441.75

lol

same here niha

<Apex82> italian 10:30

Insits havent been trading for over a week now

<NihabaAshi> Exited ER2 Long @ 804.10 --> + 0.3

<eminitrader> but szu ..i see NQ as the leading indicator most of the time 10:31

Covered all ES Short @ 1442.25 --> - 0.5 10:32

<szubaark-away> Covered all Short NQ at 1838.50 --> - 4.25 «« paper »»

Buys NQ @ 1838.50 «« paper »»

<eminitrader> Long ES @ 1442.50 10:33

<MaxMax> good morning..Niha and everyone...

<eminitrader> Exited all ES Long @ 1442.25 --> - 0.25 10:37

<PapaJon> gm MM

<eminitrader> losing out on commish ...not worth it ..see u all later

<PapaJon> take care et 10:38

<eminitrader> later pj

maybe some pm set-ups :)

<PapaJon> if we can stay awake that long

<eminitrader> lol 10:39

<PapaJon> hehe

<szubaark-away> emini.. they busted as soon as u exited :(

<eminitrader> lookinfg like a creeping uptrend till the pm moves

<les> Shorts ER2 @ 804.4 «« paper »» 10:42

Covered 1/3 ER2 Short @ 803.9 --> + 0.5 «« paper »» 10:44

<szubaark-away> Exited all Long NQ at 1838.50 --> 0 «« paper »» 10:45

Shorts NQ @ 1838.50 «« paper »»

<NihabaAshi> Shorts ER2 @ 803.20 -> small size 10:46

<les> Covered 1/3 ER2 Short @ 803.1 --> + 1.3 «« paper »»

<jperl> ER2 still oscillating about VWAP 803.82 10:47

<NihabaAshi> Lets see if that big WRB tries to retrace...if it does...I may just call it a day because that's a bad omen about the volatility.

<jperl> I have had enough for today.....my one trade is here....

http://charts.dacharts.com/2006-12-15/JP ERL_0114.png

I'll see you all towards the middle of January....I'm on vacation until then.... 10:48

<NihabaAshi> EuroFX EC volatility has been dead since 1014am est.

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<jperl> have a good holiday and a good New Year

<szubaark-away> ok jperl enjoy

<pat255> enjoy jper ...:) 10:49

<RussellDaytrade> have a good one JP

<Brutus> Cu Jp

<szubaark-away> geez after this week I need a vacation also

<les> exit stop lowered ER2 @ 804.6 «« paper »»

Covered Remainder ER2 Short @ 804.1 --> + 0.3 «« paper »» 10:54

<NihabaAshi> Trade error... 10:55

Shorts ER2 @ 804.10 -> Add

Covered all ER2 Short @ 804.50 --> - 1.7 10:56

Long ER2 @ 805.00 -> small size 10:57

Don't think I can escape these trade errors... 10:59

<les> Shorts ER2 @ 804.8 11:02

Covered ER2 Short @ 805.4 --> - 0.6 11:04

Reverse and Enter Long ER2 @ 805.4

<NihabaAshi> Exited 2/3 ER2 Long @ 805.60 --> + 0.6

Unbelievable :( 11:05

That last trade post is incorrect...won't bother trying to correct it. 11:06

I'm getting some cross orders here...not sure what's going on.

<szubaark-away> Covered all Short NQ at 1838.50 --> 0 «« paper »»

whole week was crap. 11:10

<NihabaAshi> White Inverted Hammer, dojis...

Not looking too hot right now.

Signs of exhaustion but not reversal. 11:11

If the volatility elsewhere can drop such as in Euro, EuroFX and the U.S. Dollar... 11:12

Meant drop further in comparison to its current low volatility...

I can escape this trade with very little damage. 11:13

<les> Exited all ER2 Long @ 804.7 --> - 0.7 11:14

<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)

<NihabaAshi> If not...I'll call it day...keep most of my profits and review my live recordings over the weekend to see How I screwed up my order entries.

In other words, I'm holding this Long position only because I'm bullish for new intraday highs above 806.00 11:15

Once again...ignore that last trade post...its incorrect... 11:20

[11:04] <NihabaAshi> Exited 2/3 ER2 Long @ 805.60 --> + 0.6

<RussellDaytrade> down target of 803 in approx 20-25 minutes from now 11:27

<NihabaAshi> Exited all ER2 Long @ 803.90 --> - 1.1 11:29

Will take what's left of my morning profits (1/3) and call it a day aftr order execution errors like that. 11:30

Instead of being up big...just a few hundred dollars profits. 11:31

<szubaark-away> you had a great week overall. im down this week

<NihabaAshi> Had a slim chance there for 2k until the order entry problems that left me with just a few hundred bucks in profits :( 11:32

Some one once ask me why don't I use limit order...

That's the reason why...too many mistakes.

<pat255> yes limit orders sometimes cause problems... 11:33

<NihabaAshi> Less mistakes with market orders for me.

<les> Long ER2 @ 803.9 11:34

<NihabaAshi> Somehow I was ADDING instead of exiting...too angry to look at my live recording log right now.

<RussellDaytrade> i suspect that with todays compressed range in the er, that it may be indicative of more downside to come, later in the day/throughout the day

<Apex82> i would get runover if I used market order in er2 11:39

<les> Exited 1/2 ER2 Long @ 804.4 --> + 0.5

<Brutus> YEah RD, I think I once heard that a quiet morning often has larger move in the afternoon on option Exp or the oposite may happen. comments?

<Apex82> limit order is the best way to go

<pat255> nice les ...

<NihabaAshi> Traders should use order types that fits their trading style.

<les> Exited Remainder ER2 Long @ 804 --> + 0.1

<NihabaAshi> My trading style doesn't allow me to place an order "ahead of time" and sit back to wait and see if it gets filled. 11:40

Mainly because I trade "changes" in volatility.

I rarely use limit order in the first hour of trading. 11:41

<Apex82> oh i see

im a choo choo trader 11:42

<NihabaAshi> The days limit orders are an advantage for me instead of a disadvantage are days I'm having "data or ISP problems".

<Apex82> Do you keep a live recording to listen to your selftalk to assess your psychology? 11:43

<NihabaAshi> That's when I see ER2 at a price it really is not at...

Example, I may see ER2 right now at 801.700 when I'm having data problems and its really at 804.00

Meant 803.70 11:44

Apex82...I rarely set my Camtasia recordings to record Audio...

Mainly because I use #FuturesTrades to document my thoughts from trade to trade. 11:45

Simply, the live recording is also documenting #FuturesTrades.

In addition, there's too much background noise while trading from home with the family. 11:46

If I lived by myself...audio recordings with the video recordings would be suitable. 11:47

<Chilly> c ya folks .. have a nice weekend

<NihabaAshi> Anybody that uses Camtasia also knows that the audio recording will increase the mb size tremendously by the end of the trading day. 11:48

<RussellDaytrade> Apex, when time allows, will you elaborate how specifically you use audio recordings?

<NihabaAshi> Another reason why I turn off my audio recordings and just use the video with text from #FuturesTrades.

<RussellDaytrade> to verify trade opportunites you have seen, and sounded out, or to assess how you are feeling, or other? 11:49

<Apex82> It is to understand and recognize inner feelings that I have 11:51

everyone has them

after listening to 15minutes of your talking out loud during a trade etc for a week or so

<RussellDaytrade> about trades, the market/direction?

<Apex82> what I am feeling

market etc upset about fills things going against me 11:52

just trying to recognize the prevalent feelings that could affect my trade

<szubaark-away> Camtasia freezes my Computer every time i try to record something, so i just gave up

<NihabaAshi> szu...it use to do that on my old computer. 11:53

<Apex82> after the market is close you listen to it and a light bulb turns on you hear patterns etc

<szubaark-away> probobly need better computer.. have to wait for that as my trading isnt that hot right now ($$)

<Apex82> and once you get a handle on the emotions that make you divert from your trading plan or make you take protits to early or get out etc 11:54

you are at a MASSIVE advantage

you cant rid yourself of them but just recgognizing them is all it takes they will always be there for the rest of your life

some are formed before you can even speak as a child

crazy stuff.... i know it sounds stupid but its a major impact on most traders bottomline 11:55

<NihabaAshi> Problems with the old computer it didn't have a fast enough hard-drive (RPMs), inadequated video memory, not enough memory (less than 1gig) and a windows task manager problem of window stuff working in the background.

Don't go near Camtasia with anything less than 7,200 rpm hard-drive. 11:56

<RussellDaytrade> so after a relatively short time of 'listening' to yourself 'outloud', you see repeatable patterns that assist in your trade management..

<Apex82> yes pretty much

say whatever you want most of my audio was swear words heh

<RussellDaytrade> not stupid in the least or crazy, i think it would help me tons, thanks for that elaboration 11:57

yeah, it may help me to curb that too.

<Apex82> 50% of profits is psychology but most spend 98% of their time on strategy 11:58

<RussellDaytrade> gdmf'nah!

<Apex82> until you break this mold and can control yourself I dont think a trader can make it in the long run

when i mean make it I mean very successful

not just make a living 11:59

thats just my opinion but definately check some stuff out like that it was the turning point for me

<RussellDaytrade> waht software program you use to rcord video/audio?

<Apex82> there is one on windows xp

<RussellDaytrade> built in? 12:00

<Apex82> ya its called sound recorder

start programes then accessories i think

then system tools

<RussellDaytrade> thanks, will go find it 12:01

<Apex82> not system tools

its under entertainment

thats what I used

<RussellDaytrade> ok, thanks

<NihabaAshi> For audio and editing...I recommend something call WavePad...its free.

<Brutus> Best to use a MP3 recorder program at low bit rate, you sould be able to download a free on or 1 month trail

<NihabaAshi> Does a little more than Windows XP Sound Recorder.

<RussellDaytrade> thanks all. 12:02

<pat255> ty all ... cu all am 12:03

on mon

<NihabaAshi> If your heavily into Audio recordings and want to do more with it along the lines like stereo stuff, digitaltizing of old cassett tapes et cetera...

Get something by Blaze Audio or Roxio latest Creator version. 12:04

I have both.

<RussellDaytrade> i'd say that 803 target just fulfilled, for some reason, my inclination is that we have yet to see the lowest prices. 12:08

<NihabaAshi> ER2 is in trouble...it needs to retrace here or risk dropping about 2 points.

Volatility is almost dead...expecting a volatility spike soon. 12:09

<Apex82> Russel I am sending you the excercise over email that I did 12:10

here is the audio part 12:11

The Other End of the Spectrum: What does your Psyche Do during Trading?

nevermind it does not post it in the chat

<RussellDaytrade> thanks Apex, found sound recorder, plugging in a mike to try it out.

<Apex82> i am sending you instructions for what you are trying to do from my psychology coach 12:12

<RussellDaytrade> ok, will do my best to emulate, looking forward to it.

<Brutus> Apex can you send it to me as well, thanks boybrutus74@yahoo.com 12:13

<Apex82> ok its sent

sure brutus

ok waiting to get short at 804.10 dont front run me 12:16

not enough volume for that

small size of course for obvious reasons 12:17

and a 5 tick scalp

<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) 12:26

<Apex82> oh com on

let me get in

<NihabaAshi> Hmmm...unexpected rising volatility.

<Apex82> short er2 803.30 12:27

small size

<RussellDaytrade> that seems like enough down for the time being

<Apex82> just running the stops from one place to the other 12:28

<NihabaAshi> The exhaustion signals were appearing when I was ADDING to my Long position when I thought I was Exiting.

<Apex82> but making sense with my bearish bias

<NihabaAshi> Then when I was taken out for a loss...that was the confirmation area for a reversal to downwards. 12:29

<Apex82> they are not letting me in damn it 12:30

by the time i get in the run will be over... cant stand low volume

short is now at 802.90 12:31

<NihabaAshi> If this things picks up a lot of steam...I'll return to trading. 12:32

So far...nothing major.

Expecting a volatilty spike depending upon what Euro does. 12:34

<Apex82> Es should find support in the 1436-1437 12:35

and launch a rally to new all time highs next week 12:36

for a massive selloff

es should hit resis here at 1441 12:38

<NihabaAshi> Volatility still dropping in other key markets...ER2 has a good chance to maintain the rising volatility. 12:40

<Apex82> ahh man just like I thought

as soon as i get ini

its gonna turn around and go straigt up

just BS 12:41

<NihabaAshi> Nevermind...Euro just put a damper on things

<RussellDaytrade> long setup from lows with potential target of 805-805.5, within approx 62 minutes from lows, retest may be secaondary entry long

<Apex82> lol trying to get out 30 contracts in this volume... 12:42

totally going to hold er2 market up

<NihabaAshi> Volatility is dropping again in other key markets...lets see how ER2 responds via its volatility (volatility should rise). 12:43

On that note...I'm done watching...will leave let the live-recording finish its job by itself.

Time to surf the internet :) 12:44

* NihabaAshi is now known as NihabaAshi_away

* Retrieving #futurestrades modes...

<Apex82> get me out 12:49

please

<RussellDaytrade> retest, secondary entry long

<Apex82> Profit 1 hit and filled

taking 75% out here 12:50

<RussellDaytrade> mer may go deeper if nq has a fainting spell in here

<Apex82> this is just ridicolous

i move the market on my order alone...

<RussellDaytrade> er

<Apex82> finally got some more out 12:51

taking out another 10% here 12:59

holdlding 10% as a breakeven runner

<RussellDaytrade> that target is now up to 804.3 in 48 from low 13:08

the first portion of that, approx $1.30, has an 83% probability of being achieved, which it just did....ah, heck, looks lower now. 13:11

<Apex82> here we go on runner

holding for 798

should held my 30 heh 13:12

<Brutus> iwm

<Apex82> er2 just completed a bullish 5 wave move 13:23

exit runners

for 2.5 pts

euro almost getting down to nice support zone 13:25

<Brutus> Nice A, Goog buy volume on teh NQ and ER on that last dip with a ER hammer 13:27

<Apex82> shorting 800.80 13:38

small size

<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)

<Apex82> Es getting down to 1437-1436 area 13:39

could be the low for the next few days if it gets down there 13:41

<RussellDaytrade> i think market goes up for an hour or more, possibly into close,in a general way. 13:44

<Apex82> ya its close enough to suport zone 13:46

careful on shjots 13:58

lot of cFs here on er2

most likely a nice rally out of here

probability wise

dont you love it when everything comes together and you can see it all before it happens.... 14:00

<RussellDaytrade> indeed i do 14:01

<Apex82> es came right in to supprt just nearly missing it 14:02

probably because of low volume

bastards... I wanted to get long this

looking for 1452

cant chase it now

key test for er2 800.10 14:06

if it pulls back

testit now 14:08

testing

if it can get above 801.50 now

expect a spike up

<Brutus> Buying? 14:10

<Apex82> no way 14:11

just commentary

<Brutus> How many CF's do you need? :)

<RussellDaytrade> looks like those with close stops at 800 just got sold, amy reflect well for continued rise, on the general premise that if it were ultimately going lower, it may go up firsat, and the opposite, that if it was ultimately going higher, they may hit the sell stops before it lifts. thats the read i get on it

subject to modificatoin, of course 14:12

<Apex82> over 5 14:13

<RussellDaytrade> feels bad but er and nq holding above lows

<Apex82> er2 will probably hold here

may wash out lows as it does it a lot in these exhaustion zones 14:14

especially in low volume when its all stops and nothing to support the market

<RussellDaytrade> rise with shallower angle of attack from here?

<Apex82> man there is som any CFS lining up on all timeframes all the way to the weekly in 1455-1456 area 14:15

if it can get there

its going to be a multi week top

and I am going to trade it as such

<RussellDaytrade> cfs?

<Apex82> confirming factors

confluence

<RussellDaytrade> for top(s)?

<Apex82> I like trade with multiple edges 14:16

to create syngerg

yy

<RussellDaytrade> it would be about time, or even overdue

<Apex82> ya so overdue

man that would be amazing if it can do it with this structure 14:17

you can risk literally 1 or 2 to make well over a 60-100

with a zone packed that tight

<Brutus> Question:

<ItalianSharp> anyone in here using eSignal? 14:18

<Brutus> When prices are falling or rising I take high risk trades

But when the market is quiet and setsup with many cf's for me I dont take the trade and hesitate, why?

<Apex82> you mean you are a counterrend trader? 14:19

<Brutus> Esig i do IS

<ItalianSharp> brutus: do you use continuous charts for ER2? like AB #F? 14:20

i have been using AB #F, but when contracts roll over I get the damned gap and all the past data from the previous contract are off by a few points...

<Brutus> Well most of may trades are but just as you saw many cf's so did I but I hesitate

<ItalianSharp> is there a way to automatically adjust the continuos chart? 14:21

<Apex82> to buy?

on er2?

<Brutus> YEs IS just use the AB h7

<ItalianSharp> if you know a way to sort this out, will you post instructions?

brutus: if I use AB H7, i am missing data from previous months

<RussellDaytrade> hanging out nears lows for a good considerable amount of time, may reflect well for move to next level(s) up, 801.5 to 802?? 14:22

<ItalianSharp> i would like to have continuity of data, like in IWM

<Brutus> Yes Apex WHy do I take higher risk trades at times?

<Apex82> 801.50-802.50 key resistance

if broken we could easily see a retest of HOD

Sponsor:
Skype

<Brutus> You could still calculate on AB z6 as there is overlap and volume for a few days right? 14:23

Then swith to calc on AB #F

<RussellDaytrade> HOD too far to re-achieve on this day, possible 803 range if gets traction 14:24

with the ex. maybe it splits dif and ends near vwap 14:25

<Apex82> youll be surprised russel 14:26

if it can get above that zone

<RussellDaytrade> i am surprised just about every day by the moves in the er 14:27

<Apex82> we are getting very close to a brick wall 14:28

on the s&p

1435-1455 on S&P cash 14:29

<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) 14:50

<RussellDaytrade> making a move, just needs a little push with vol to make it more self-perpetuatingf 14:56

<Brutus> Sox running up, 1500 index's may follow 14:58

Long ER2 @ 800.4 «« paper »» 15:02

Exited ER2 Long @ 800.1 --> - 0.3 «« paper »» 15:04

<RussellDaytrade> nq held pretty well that last drop, may help to pull up er 15:08

low hurdle to surpass prior top 15:17

vol in nq

<Apex82> im out guysh 15:50

have a good weekend

<Brutus> Cu Monday boys 15:52

Bahamas Apex?

* NihabaAshi_away is now known as NihabaAshi 15:55

<RussellDaytrade> so long all, have a good one.

<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) 16:02

<NihabaAshi> Take care all and have a nice weekend 16:37

* NihabaAshi is now known as NihabaAshi_away 16:38

* DisconnectedSession Close: Fri Dec 15 17:03:09 2006 17:03

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