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| December Trade Log | Trade Strategies | WRB Analysis Tutorials | Music While Trading | Testimonials | Disclaimer |
#FuturesTrades
December 16th Tuesday 2008 Trade Log
Trade Posting Chat Log Info: My name is M.A. Perry (a.k.a. online as NihabaAshi - martial arts & Japanese Candlestick term) and I am the moderator of #FuturesTrades.
Simply, my job is to keep the peace and ensure #FuturesTrades is a useful community of traders from around the world that have gather in a virtual trading office.
In addition, I personally use the below chat log as feedback for critical trading information that's not available when I review my broker statements nor any statistical analysis of my trading. To maintain the usefulness of the below chat log, all of my trades were posted in real-time within 5 seconds after entry or exit unless otherwise noted in the log.
Further, although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based methodology (very objective) that involves price action only trading (no indicators). However, some of my trades are intuition via market experience in combo with many concepts from my rule based methodology.
My own current performance record and broker profit/loss statement is posted at the bottom of today's log.
With that said, today's trade posting chat log is below and it contains trades posted in real-time by #FuturesTrades members including all of my own trades that were posted in real-time.
Last of all, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.
#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.
Time Zone Info Chat Log below is eastern standard time (est.) - New York City, U.S.A and/or Montréal, Canada time zone. <@X> #FuturesTrades Info -> No gurus, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade because it provides critical information they can't get from broker statements nor statistics. Also, mimicking the trades by others is not recommended without their permission. More info at http://www.thestrategylab.com/FuturesTradesChatRoom.htm
Session Start: Tue Dec 16 09:27:47 2008
Session Ident: #futurestrades
[09:27] * Now talking in #futurestrades
[09:27] <@X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm
[09:28] <PapaJon> gm all
[09:28] <rickf> gm niha
[09:29] <drt> gm all
[09:30] <jbuch> morning
[09:36] <+rickf> just checking in for the open - back later this morning, not looking to trade until 215 anyway. back later
[09:36] <+jbuch> c ya
[09:43] <@NihabaAshi> 0,3 Long ES @ 883.00 -> large size
[09:43] <@NihabaAshi> 6 only
[09:43] <@NihabaAshi> trade error
[09:44] <@NihabaAshi> 0,2 Exited all ES Long @ 881.25 --> - 1.75
[09:45] <@NihabaAshi> 0,3 Long ES @ 883.00 -> large size
[09:45] <silo[zZ]> real trading now or still simulation
[09:45] <@NihabaAshi> 6 only
[09:46] <@NihabaAshi> 0,2 Exited all ES Long @ 881.25 --> - 1.75
[09:47] * silo[zZ] is now known as silo
[09:47] <@NihabaAshi> 0,3 Long ES @ 882.25 -> small size
[09:47] <@NihabaAshi> 3 only
[09:47] <@NihabaAshi> 0,2 Exited all ES Long @ 882.50 --> + 0.25
[09:49] <@NihabaAshi> 0,4 Shorts ES @ 880.25 -> large size
[09:49] <@NihabaAshi> 6 only
[09:50] <szubaark> 0,4 Shorts ES @ 880 4,0 «« paper »»
[09:51] <@NihabaAshi> ;(
[09:52] <@NihabaAshi> 0,2 Covered all ES Short @ 882.00 --> - 1.75
[09:52] <@NihabaAshi> -1.75 again...exact same stop out and I don't have auto stops on.
[09:53] <@NihabaAshi> This happen before and I'm not sure how I was able to turn it off especially when it kepted taking me out for +0.25 as profit targets too.
[09:55] <@NihabaAshi> reviewing last weeks video of when this happen before to see how I was able to "deactivate" the auto stops even though I don't have it set up for such.
[09:56] <@NihabaAshi> Anybody in here using "Sierra Charts" ???
[09:56] <+szubaark> 0,2 Covered all Short ES at 882.50 --> - 2.5 4,0 «« paper »»
[09:56] <@NihabaAshi> If so...when using a white background for your charts...
[09:56] <@NihabaAshi> How do you change the cursor color from white to black so that the cursor shows up ???
[09:56] <@NihabaAshi> PM me via double clicking on my user name if you want.
[09:56] <@NihabaAshi> Thanks.
[09:58] <+szubaark> 0,4 Shorts ES @ 879.50 4,0 «« paper »»
[09:58] <@NihabaAshi> 0,4 Shorts ES @ 880.00 -> large size
[09:59] <@NihabaAshi> 10 only
[10:00] <+szubaark>
[10:04] <@NihabaAshi> 0,2 Covered all ES Short @ 879.75 --> + 0.25
[10:05] <@NihabaAshi>
[10:06] <+szubaark> just keeps zig-zagging up and down and not going anywhere
[10:07] <@NihabaAshi> switching platforms...waiting on help from Infinity about the auto stop problem when I have the "auto" box unchecked.
[10:07] <@NihabaAshi> Back to X_Trader until I get that problem resolved.
[10:08] <@NihabaAshi> I notice it happens when I reloaded what they call the matrix or like
[10:11] <pat255> gm all
[10:13] <@NihabaAshi> X_Trader up and running...lets dig myself out of a negative hole of losses now.
[10:14] <+pat255> ny reason for changing platform N?
[10:14] <+pat255> any
[10:16] <+pat255> @office again today ...
[10:18] <@NihabaAshi> Yeah...
[10:19] <@NihabaAshi> Infinity has an "auto" bracket and "auto" trailing stop and "auto" simple bracket.
[10:20] <@NihabaAshi> They work great when I set them and check the box for such after inputing my settings.
[10:20] <@NihabaAshi> The problem is when I "deactivate" them by "unchecking" the box.
[10:20] <+pat255> great .
[10:21] <@NihabaAshi> They continue working until I uncheck something called "quick click" which is suppose to not have anything to do with the auto stuff.
[10:22] <@NihabaAshi> Short story...I lose my ability to reverse a trade when it nears my mental stop of -2 points.
[10:22] <@NihabaAshi> Basically I'm taken out of the trade and then if I wanted to reverse...
[10:22] <+pat255> y...takes a while to get familiar with the little stuff...hate to channge to new stuff..
[10:23] <@NihabaAshi> I can't and most do a new order which also means I'm doing a late entry.
[10:24] <@NihabaAshi> Anyways, I'm going to run both my platforms side by side...
[10:24] <+szubaark> Niha, you feel you need same with Speed with ES as when u were trading the ER? I thoght the ES is a lot slower then ER
[10:25] <@NihabaAshi> speed ?
[10:25] <+szubaark> Execution Speed
[10:25] <@NihabaAshi> Are you talking about platforms or the price action itself ?
[10:26] <+szubaark> Price Action
[10:26] <@NihabaAshi> szu...I lost confidence in ER2 (started struggling with it) as it neared its exchange switch from the CME to ICE.
[10:27] <@NihabaAshi> I don't mind losses but it got to a point where I had more trading days in which I was "digging myself" out of a hole while trading ER2.
[10:28] <@NihabaAshi> Simply, too stressful, mentally draining and I started developing some trading fears with ER2 when it started doing that "pin ball machine" price action early in the summer.
[10:28] <+szubaark> 0,2 Covered all Short ES at 882.75 --> - 3.25 4,0 «« paper »»
[10:29] <+szubaark> 0,3 Buys ES @ 883 4,0 «« paper »»
[10:29] <@NihabaAshi> In hindsight...I learned the following about ER2 that was very valuable...
[10:30] <@NihabaAshi> In normal volatility or low volatility trading conditions...
[10:30] <@NihabaAshi> I would favor ER2.
[10:30] <@NihabaAshi> In high volatility trading conditions...I would stay away from ER2.
[10:31] <@NihabaAshi> In the past, I had the opposite view until the VIX skyrocketed to new highs and is still in a high volatility market conditions.
[10:32] <@NihabaAshi> Overall, trading is getting tougher by the way.
[10:32] <@NihabaAshi> That's more of a feeling without statist facts.
[10:32] <+pat255> y..
[10:33] <@NihabaAshi> I see myself lately taking more time off from the markets, talking less about the markets, trading less et cetera.
[10:34] <+pat255> N ...this was your gut feel that mkts are tuff now ..so stay away ..
[10:34] <@NihabaAshi> Simply, I'm using more excuses to not trade than have ever done in the past regardless if the excuses merits not trading.
[10:34] <+pat255> agree tho ...good point ..
[10:34] <@NihabaAshi> My point is I recently looked in my trading journal I see more personal reasons why not to trade than trading reasons why not to trade.
[10:35] <+pat255> k ...
[10:35] <@NihabaAshi> Thus, maybe my use of the word "excuses" is not a good explanation.
[10:36] <+szubaark> 0,2 Exited all Long ES at 880 --> - 3 4,0 «« paper »»
[10:36] <+szubaark>(
[10:36] <+szubaark> 0,4 Shorts ES @ 880.25 4,0 «« paper »»
[10:36] <@NihabaAshi> I should have compared Personal Reasons versus Trading Reasons
[10:36] <+szubaark> this past 4 days Price Action has been EXTREMELY DIFFICULT for me
[10:37] <@NihabaAshi> szu...VIX is range bound...that's tough trading conditions for holding a trade too long.
[10:37] <+szubaark> because of these tight ranges like we having right now)
[10:40] <+szubaark> seems like i need to go to 15-30 minute charts to trade now since these consolidation areas are so brutal
[10:42] <@NihabaAshi> Usually (not always) when the VIX is range bound...we get sucker into overtrading or into holding losers too long.
[10:42] <@NihabaAshi> Holding losers too long is not a problem but can become a problem when doing such without hard stops.
[10:43] <kos> test
[10:43] <+szubaark> thats something im starting to notice in my trading results, when VIX goes down, I start having losses
[10:46] <@NihabaAshi> Usually when the VIX is going down the ES is going up not necessary tick for tick.
[10:47] <+pat255> only thing bullsih is everyone bearish
[10:47] <@NihabaAshi> However, overall, a declining VIX is indicating more range price action will show up on the intraday.
[10:48] <@NihabaAshi> More chop too.
[10:49] <@NihabaAshi> Notice although I'm in the red (losses) for the day...I haven't taken another trade after switching platforms because there's nothing worthwhile to trade.
[10:50] <+kos> why did you change your platform?
[10:52] <@NihabaAshi> Had some problems with my "auto" stops...on when they should have been off and off when they should have been on.
[10:53] <+pat255> good dsicpline ..I need to do that ..
[10:53] <@NihabaAshi> Switched to my other platform until I can determine what I was doing wrong in the Infinity platform.
[10:53] <+kos> good luck with new platform
[10:54] <@NihabaAshi> It's always the same with something new...
[10:54] <+pat255> n do u have the link for your new forum?
[10:54] <@NihabaAshi> Link ?
[10:54] <@NihabaAshi> Broker website ?
[10:54] <+pat255> the one u mentioned yesterday or is the same link as is now?
[10:54] <+pat255> for futurestrades
[10:55] <+pat255> to submit the needed info
[10:55] <+szubaark> 0,2 Covered all Short ES at 880.75 --> - 0.5 4,0 «« paper »»
[10:55] <@NihabaAshi> pat255...there's a link but it's not open for use for the new discussion forum for #FuturesTrades member.
[10:55] <+pat255> i c..
[10:56] <@NihabaAshi> Hopefully I'll get it open soon sometiem this week.
[10:57] <+silo> 0,4 Shorts YM @ 8622
[11:00] <+szubaark> 0,3 Buys ES @ 881 4,0 «« paper »»
[11:00] <+pat255> chop & slow PA
[11:00] <@NihabaAshi> 0,4 Shorts ES @ 880.75 -> large size
[11:00] <@NihabaAshi> 10 only
[11:01] <+silo> 0,2 Covered all YM Short @ 8636 --> - 14
[11:01] <@NihabaAshi> 0,2 Covered all ES Short @ 881.25 --> - 0.5
[11:02] <+silo> 0,4 Shorts YM @ 8632
[11:03] <@NihabaAshi> This is the first FOMC Announcement trading day where there a feeling of "it won't help".
[11:03] <@NihabaAshi> Thus, I think many traders aren't expecting too much out of the trading day today.
[11:05] <@NihabaAshi> 0,3 Long ES @ 881.50 -> large size
[11:05] <@NihabaAshi> 9 only
[11:05] <+silo> 0,2 Covered all YM Short @ 8645 --> - 13
[11:07] <bazooka85> gm
[11:07] <+bazooka85> only using limit orders from now on with my uptick rule
[11:09] <@NihabaAshi> 0,2 Exited all ES Long @ 882.25 --> + 0.75
[11:09] <@NihabaAshi>
[11:10] <@NihabaAshi> went 9 instead of 10 and exited 882.25 when I thought I set it for 882.50 on any retracement.
[11:11] <@X> 1,4 #FuturesTrades Info -> 1,0 Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.php?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.
[11:11] <+szubaark> 0,2 Exited all Long ES at 882 --> + 1 4,0 «« paper »»
[11:12] <+szubaark> lets get this FOMC announcment out of the way so market can return to "normal"
[11:12] <+szubaark> market has been acting "weird" last 3 days, i think its in anticipation of the FOMC announcment
[11:15] <ItalianSharp> szu, that's what every daytrader is hoping for...the real nightmare would be a lukewarm reaction to the FOMC rate decision with the market still stuck in this tough range
[11:15] <@NihabaAshi> 0,4 Shorts ES @ 882.00 -> large size
[11:16] <@NihabaAshi> 10 only
[11:16] <+szubaark> 0,4 Shorts ES @ 880.50 4,0 «« paper »»
[11:17] <+jbuch> szu going back to what you Niha were talking about earlier. I think the majority of us that post herethink that the m
[11:17] <+jbuch> oops didn't meen to post that yet
[11:18] <+jbuch> I think the majority of us that post our trades tend to buy breakouts from a range.
[11:19] <@NihabaAshi> Look at this room...it's been a long time since I've seen not much talk about the "FOMC Announcement" today
[11:19] <+jbuch> This works well in trending markets but miserably in range bound markets
[11:19] <@NihabaAshi> Almost as if the world doesn't care
[11:20] <+bazooka85> hi
[11:21] <@NihabaAshi> Usually a FOMC Announcment is the talk of the town.
[11:21] <+ItalianSharp> Niha, totally agree with you
[11:22] <+ItalianSharp> the feeling I have is that nobody thinks there is nothing you can do to improve the economy
[11:22] <+ItalianSharp> like..."we are fu..ed"
[11:22] <+ItalianSharp> no matter what
[11:22] <@NihabaAshi> Yeah...I'm hearing that too.
[11:22] <+ItalianSharp> also...
[11:23] <+ItalianSharp> i think people have gotten smarter and no longer believe everything they are told
[11:23] <+ItalianSharp> loss of trust in the media and government
[11:23] <+ItalianSharp> and they are right
[11:24] <@NihabaAshi> 0,2 Covered all ES Short @ 881.75 --> + 0.25
[11:24] <+ItalianSharp> when you hear about Nasdaq's former chairman at the core of a trillion dollar scandal
[11:24] <+ItalianSharp> that spells trouble
[11:25] <@NihabaAshi> Makes you wonder about what other "scandals" like that are sitting out there "undiscovered".
[11:25] <+bazooka85> 0,4 Shorts ES @ 881.75
[11:26] <+szubaark> 0,6 exit stop set ES @ 882.50 4,0 «« paper »»
[11:26] <@NihabaAshi> This trading day is so slow so far...
[11:26] <@NihabaAshi> I may call it quits early and take an "intentional" loss to break my trading day win streak.
[11:27] <@NihabaAshi> Things not going so hot any ways.
[11:27] <+szubaark> so how long has it been since your last Losing Day?
[11:27] <+bazooka85> dont do it!!
[11:27] <+bazooka85>
[11:27] <@NihabaAshi> A long time
[11:27] <+szubaark> Amazing.
[11:28] <@NihabaAshi> It's documented at the forum but I can't remember exact dates.
[11:28] <JimL> This isn't trading; its flip a coin on the next 1 min direction...
[11:29] <T-stop> Niha take a break until right before and after fed, things should heat up then, imo
[11:29] <+szubaark> 0,2 Covered all Short ES at 882.50 --> - 2 4,0 «« paper »»
[11:29] <@NihabaAshi> T-Stop...that's the point of my discussion.
[11:29] <+T-stop> k
[11:29] <tzar> hi
[11:29] <+szubaark> 0,3 Buys ES @ 882.75 4,0 «« paper »»
[11:29] <@NihabaAshi> I suspect things won't heat up that much when the announcement is posted
[11:30] <@NihabaAshi> The heat of the announcement will be very short lived.
[11:30] <+T-stop> just hate to see your win streak broken, thats all
[11:30] <@NihabaAshi> Hopefully I'm wrong but I'm not expecting it to be a big bang.
[11:30] <+T-stop> np
[11:30] <+bazooka85> 0,2 Covered all ES Short @ 883.25 --> - 1.5
[11:31] <+szubaark> Everyone in the World waiting for ES to make new high here then things will speed up
[11:32] <@NihabaAshi> Here's that old message post about my documented win streak...
[11:32] <@NihabaAshi> http://thestrategylab.com/forum/index.php?topic=315.0
[11:32] <@NihabaAshi> It's in jepordy today
[11:34] <+jbuch> 0,4 Shorts ES @ 883.75
[11:34] <+T-stop> obama in 10 min, fwiw
[11:36] <+jbuch> 0,2 Covered all ES Short @ 885.75 --> - 2
[11:37] <+jbuch> should have waited for second entry
[11:38] <+T-stop> obama now
[11:43] <bazooka85> test
[11:44] <+bazooka85> 0,4 Shorts ES @ 884.00
[11:49] <+szubaark> 0,2 Exited all Long ES at 884.25 --> + 1.5 4,0 «« paper »»
[11:50] <+jbuch> 0,4 Shorts ES @ 884.25
[11:51] <+szubaark> 0,4 Shorts ES @ 884 4,0 «« paper »»
[11:53] <+jbuch> 0,2 Covered 1/2 ES Short @ 883.5 --> + 0.75
[11:55] <+jbuch> 0,2 Covered Remainder ES Short @ 885.25 --> - 1
[11:56] <+bazooka85> jesus chop
[11:57] <+szubaark> 0,2 Covered all Short ES at 885.50 --> - 1.5 4,0 «« paper »»
[11:57] <+szubaark>
[11:57] <+szubaark> tough to make money, easy to lose it
[11:58] <+bazooka85> very easy
[11:59] <+bazooka85> 1.2k+ bid at 885.75
[11:59] <+bazooka85> ask*
[11:59] <+bazooka85> been bouncing off of that for a while now
[12:01] <+szubaark> 0,4 Shorts ES @ 883.75 4,0 «« paper »»
[12:02] <+bazooka85> 886 is my stop
[12:02] <+szubaark> Double Top possible
[12:03] <+bazooka85> finally
[12:03] <+bazooka85> where
[12:03] <+bazooka85> whew* it was one tick away from stopping me out on several occasions
[12:03] <+szubaark> ES
[12:03] <@NihabaAshi> 0,4 Shorts ES @ 883.00 -> large size
[12:03] <@NihabaAshi> 10 only
[12:04] <+tzar> whats the max you trade on ES niha?
[12:04] <@NihabaAshi> 10
[12:04] <+tzar> ok
[12:04] <+tzar> thx
[12:04] <@NihabaAshi> Two of my brokers its 10 and one is 5
[12:06] <@NihabaAshi> volatility showed signs of life and now it's trying to hibernate again
[12:06] <@NihabaAshi>
[12:07] <@NihabaAshi> Anybody notice the Euro getting stronger lately ???
[12:07] <+kos> yes
[12:07] <+szubaark> yes
[12:08] <+silo> 0,3 Long YM @ 8645
[12:08] <+silo> 1
[12:10] <+tzar> where is ES at - im at work sorry
[12:10] <@NihabaAshi> 883.25
[12:12] <+jbuch> well as much fun as this is I'm going to take a breather
[12:13] <+szubaark> no kidding.. if it was summer i know i woudnt be trading right now LOL
[12:15] <@NihabaAshi> 0,2 Covered all ES Short @ 884.00 --> - 1
[12:16] <silo[zZ]> computer crashed while i was in a trade
[12:16] <+silo[zZ]> oh good it's going my way
[12:16] <+bazooka85> test
[12:16] <+szubaark> 0,2 Covered all Short ES at 885 --> - 1.25 4,0 «« paper »»
[12:16] <@NihabaAshi> 0,3 Long ES @ 884.75 -> large size
[12:16] <+szubaark> didnt go my way
[12:16] <@NihabaAshi> 10 only
[12:17] <+szubaark> ill wait for 886, dont trust this
[12:17] <@NihabaAshi> 3 tick difference betwen the exit and re-entry
[12:17] <@NihabaAshi> I'm slow today
[12:21] <bazooka85> chop
[12:21] <+bazooka85> volatility just started picking up
[12:24] <+szubaark> well its doing a great job of Stop running LOL
[12:26] <+rickf> back
[12:27] <+szubaark> hi rick
[12:27] <+pat255> hi
[12:27] <+rickf> didn't miss much save a good discussion here
[12:27] <+rickf> hi all
[12:27] <+ItalianSharp> volume is dead right now
[12:27] <+bazooka85> 0,3 Long ES @ 883.25
[12:28] <+silo[zZ]> 0,2 Covered all YM Short @ 8645 --> - 295
[12:28] <+silo[zZ]> covered long i mean
[12:28] <+silo[zZ]> +0
[12:30] <+bazooka85> hi
[12:30] <+kos> has the script worked?
[12:32] <@NihabaAshi> Downside pressure in Oil and Gold
[12:33] <+silo[zZ]> 0,3 Long YM @ 8650
[12:33] <+silo[zZ]> back in
[12:33] <+silo[zZ]> 2
[12:33] <+pat255> oil ...dropped a $
[12:35] <@NihabaAshi> It's a trading for ticks type of day
[12:36] <+pat255> until the fomc ..
[12:36] <+pat255> ews come out
[12:37] <+szubaark> 0,4 Shorts ES @ 882.25 4,0 «« paper »»
[12:39] <+bazooka85> 1:30 till fomc
[12:40] <+silo[zZ]> i'm playing tug of war with szu
[12:40] * silo[zZ] is now known as silo
[12:41] <+szubaark> silo u always FADE me
[12:42] <+silo> hold on szu.. imma drink some protein drink and win this
[12:43] <+jbuch> surprise surprise its right where I left it
[12:44] <+szubaark> 0,2 Covered all Short ES at 884.25 --> - 2 4,0 «« paper »»
[12:44] <+bazooka85> sigh--i wish ER2 were still with cme
[12:45] <+szubaark> 0,3 Buys ES @ 884.50 4,0 «« paper »»
[12:46] <@NihabaAshi> 0,2 Exited all ES Long @ 883.00 --> - 1.75
[12:46] <@NihabaAshi> support broken a second time...
[12:46] <@NihabaAshi> Not good
[12:46] <+szubaark> 0,2 Exited all Long ES at 882.25 --> - 2.25 4,0 «« paper »»
[12:46] <+szubaark> 0,4 Shorts ES @ 882.25 4,0 «« paper »»
[12:46] <+szubaark> man lots of fakeouts
[12:47] <+szubaark> crap Shorted too soon
[12:47] <+pat255> tarding this is impossible ..
[12:48] <+rickf> not even watching it
[12:48] <+rickf> not 'till 2 or so
[12:48] <@NihabaAshi>
[12:48] <@NihabaAshi> Lets smile boys...can't be that bad
[12:48] <+szubaark> im approaching 3rd losing day in a row, not too happy
[12:49] <+rickf> i'm learning the better trade is to "fail safe" - ie, better to fail by being out of the market than fail once in the market
[12:49] <+rickf> hey niha - how's the family doign btw?
[12:49] <+bazooka85> it's bad
[12:49] <+rickf> feeling better i hope
[12:50] <@NihabaAshi> still sick but I did get a few hours of sleep last night.
[12:50] <+silo> wow this is not going anywhere
[12:50] <+bazooka85> im getting too many opposite signals
[12:50] <+bazooka85> but it's not going anywhere!
[12:50] <+szubaark> 0,2 Covered all Short ES at 884 --> - 1.75 4,0 «« paper »»
[12:50] <+szubaark> DAMN
[12:50] <+silo> szu
[12:50] <+szubaark> 5 Stop outs in a row
[12:50] <+szubaark> silo watch out, they gonna get u now
[12:51] <@NihabaAshi> spent from 9pm to Midnight at the hospital for the toddler because of his stomach pains reaction to antibiotics.
[12:51] <+silo> haha i dont know what to do with this long
[12:51] <+silo> it's like 50/50
[12:51] <+silo> lol
[12:51] <+rickf>
[12:51] <+pat255> oh lord ...
[12:52] <+jbuch> I feel for you Niha, my four month old daughter has a head cold. Nobody is sleeping in the Buch houshold.
[12:54] <@NihabaAshi> 0,4 Shorts ES @ 882.25 -> large size
[12:54] <@NihabaAshi> 10 only
[12:54] <+szubaark> Ill wait for 882 break
[12:54] <+rickf> i love that "only" part -- 4 is my comfort zone
[12:55] <+jbuch> that cracks me up to
[12:55] <+rickf> in this market particularly
[12:58] <futurible> 0,3 Long ES @ 882.50 4,0 «« paper »»
[12:58] <+jbuch> szu looking at the days previous breakouts the odds are better going long on a breakout down
[12:59] <+szubaark> we got Triple Top above and a Gap up, tough for me to go Long right now
[12:59] <+szubaark> 0,4 Shorts ES @ 882 4,0 «« paper »»
[12:59] <+silo> 0,2 Exited all YM Long @ 8635 --> - 15
[12:59] <+rickf>
[12:59] <+szubaark> Greedy Targets
[13:00] <+bazooka85> 0,2 Exited all ES Long @ 881.25 --> - 2
[13:00] <+pat255> S 82 also 1 car
[13:01] <+jbuch> maybe not this time
[13:02] <+futurible> 0,2 Exited all ES Long @ 880.50 --> - 2 4,0 «« paper »»
[13:02] <+rickf> lucky entry szu - i gave up chasing long candles a while ago
[13:02] <+rickf> got burned too many times on quick reversals
[13:03] <+silo> lol you noticed that too eh rick?
[13:03] <+silo>
[13:03] <+rickf> yepper
[13:03] <+rickf> get in at the bottom and get out for -3 or more on the reverse
[13:04] <+szubaark> its a trade off between good entry OR Conformation
[13:04] <+silo> 'cuz that depends on the market. it might take you 3-4 trys to get that one trade... meanwhile yo're losing -3,-4,-2... but the big one that you do get (chasing the big bars) you might get +6 if you're lucky... then it's all about whether one can cover the other
[13:05] <+rickf> right
[13:05] <+silo> if you're lucky
[13:05] <+silo> and you're chasing big bar which means 80% Of the time, you've caught the end or the middle of that big move
[13:05] <+szubaark> BUT Selling UPTICKS it can also just keep going UP (Parabolic upmove) and u keep getting stopped out
[13:05] <+silo> and doing that, you have to worry about reversals, you put yourself in a disadvantage right off the bat
[13:06] <+rickf> the way i look at it -- if i suddenly see a big bar and wasnt expecting it -- chances are it was NOT part of my plan
[13:06] <+silo> then it's all a matter of praying that market gives you one BIG ass trade
[13:06] <+silo> and that you're lucky enough to stay in one
[13:06] <+rickf> hence chasing it is roll-the-dice
[13:06] <+silo> and hoepfully that BIG trade can cover all the failures from earlier, the 4-5 failures trying to catch that one
[13:07] <+rickf> if that marks a trend change i'd wait for a confirmation and enter -- if not, no biggie
[13:07] <@NihabaAshi> I've been suckered into "CHASING" more often these past few months than I've been the past several years
[13:07] <+rickf> you niha? you're one of the most disciplined traders i know!
[13:07] <@NihabaAshi> Most of the chasing is caused initially by "hesitation".
[13:08] <+rickf> ah
[13:08] <@NihabaAshi> Most likely due to all the "pin ball machine" like price action.
[13:08] <+szubaark> But Big bar means Volatility Increase so why would it be chasing?
[13:08] <+szubaark> we just dont get FOLLOWTHRU as before
[13:08] <@NihabaAshi> It's only chasing if your signal occurred BEFORE the big bar
[13:09] <@NihabaAshi> Simply...
[13:09] <+rickf> but if that big bar doesnt lead to continued increased vol, szu ... you're trapped
[13:09] <@NihabaAshi> You get a signal...hesitate...big bar form without you on board...you then jump on (late entry = chasing).
[13:09] <+futurible> 0,3 Long ES @ 881.25 4,0 «« paper »»
[13:09] <+rickf> ah ok
[13:10] <+rickf> jump on the train
[13:10] <+silo> 0,4 Shorts YM @ 8644
[13:10] <+silo> 2
[13:10] <@NihabaAshi> Yeah and then the train comes to a screeching halt as soon as we jump on
[13:10] <+silo> when you see a big bar szu... then you jump in, you put yourself in teh worst position
[13:10] <winmax60> so true...Nihaba...
[13:11] <+silo> if that bar is about to get retraced.. you caught the bottom or top of it
[13:11] <+silo> so you feel the most pain when it retraces
[13:11] <+silo> then it's all about how much you can stomach
[13:11] <+szubaark> these Big Bars (WRB) usually happen around Important S/R areas, so u know bunch of traders just got trapped, so u want go opposite of the trapped traders
[13:11] <+ItalianSharp> sorry for the long post...i just dont wanna have to post 100 times so better 1 long post and get it over with
[13:11] <+silo> yes.. but that doesn't mean you should jump in while it's forming or as soon as it finishes forming
[13:12] <+silo> why does it usually take you 3-4 trades to catch that one.... it's becasue majority of the time, those big bars will get retraced
[13:12] <+szubaark> TODAY (last 3 days) is a bad example because of the FOMC, but most days WRB spikes work
[13:12] <+silo> simple as t hat
[13:12] <@NihabaAshi> 0,2 Covered all ES Short @ 881.50 --> + 0.75
[13:13] <+silo> like this big red bar
[13:13] <+silo> how come it's not going down
[13:13] <+silo> it could go down
[13:13] <+silo> but possibly after this retracement
[13:13] <+silo> but if you shorted the bottom
[13:13] <+silo> you're already -2 if not more
[13:13] <@NihabaAshi> volatility picked up but price chopped around...
[13:13] <@NihabaAshi> Not a good sign.
[13:14] <+silo> then you exit your short and reverse w hen you couldn't stomach the retrace
[13:14] <+rickf> for me on a wrb i'll wait for a retracement - seems far safer to at least hit b/e if it doesn't continue as i expect
[13:14] <+silo> and go long
[13:14] <+silo> then your long fails again
[13:14] <@NihabaAshi> Next volatility spike after this type of price action the past 15mins should have some steam behind it.
[13:14] <+silo> when you dont wait, you risk losing money a lot more than if you did wait
[13:14] <+silo> 'cuz if you chase, simply, you get teh worst price
[13:15] <+pat255> szu N how can 1 determine that the current bar is going to be big bar unless what szu said near the S/R areas
[13:16] <@NihabaAshi> You can't determine if the "current" bar "will be" a big bar.
[13:16] <+silo> you have to wait for it to finish forming
[13:16] <@NihabaAshi> You can only "guess" if such will or will not occur "soon".
[13:16] <+pat255> <NihabaAshi> Most of the chasing is caused initially by "hesitation".
[13:16] <+silo> which is why the people whoo jump in right afrter they see a big bar formed.... they get the worst price
[13:16] <+pat255> so true ...
[13:17] <+silo> which leads to tougher trades 'cuz you have to wonder if it's going to reverse , or retrace
[13:17] <+pat255> k thks N
[13:17] <@X> 1,4 #FuturesTrades Info -> 1,0 Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.php?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.
[13:17] <+silo> but regardless if it's just a retrace or a reverse in price direction.... you get the worst price and any retracement could hurt you
[13:18] <+rickf> to me chasing a wrb is an emotional panic to "not miss it"
[13:18] <+silo> sure
[13:18] <+rickf> and i want to remove emotion from my trading
[13:18] <+silo> i mean if trading is this easy... just wait for the big bars since the big bars shows mnore meaning.... then everyone would be a millionaire
[13:18] <+rickf> i'm happier missing a trade and waiting for a setup i like
[13:18] <+szubaark> dont forget some days IF you miss the first WRB market will never retrace to let u back in
[13:18] <+rickf> than jumping, losing, and then knowing afterwards i was an idiot for doing what i did
[13:19] <+pat255> was reading the stuff last night N ...will do so this weekend again..
[13:19] <+szubaark> 0,2 Covered all Short ES at 883 --> - 1 4,0 «« paper »»
[13:19] <+silo> that's why you chase all of them
[13:19] <+silo> but how many works out
[13:19] <@NihabaAshi> 0,3 Long ES @ 882.75 -> large size
[13:19] <+silo> 1 out of 10
[13:19] <@NihabaAshi> 10 only
[13:20] <+silo> and what's your average win on that big winner
[13:20] <+silo> vs your average loss from trying
[13:20] <+futurible> 0,2 Exited all ES Long @ 883.50 --> + 2.25 4,0 «« paper »»
[13:20] <+szubaark> this is just Stop running.. WRB or anything isnt gonna work Today
[13:20] <+silo> 0,2 Covered all YM Short @ 8644 --> 0
[13:20] <+silo> out 8659 actually
[13:20] <+silo> -15
[13:20] <+szubaark> im not touching this, we should be going lower right now, but they bounced it LOL
[13:20] <+rickf> so right now i'd think of a short around 881-82 to resume the down trend -- if i was trading it
[13:21] <+silo> szu dont blame the market... or say oh the market is doing this todya so..
[13:21] <+pat255> silo u got a point ..
[13:22] <+szubaark> 0,3 Buys ES @ 883.50 4,0 «« paper »»
[13:22] <+silo> i mean look... szu.... you need to try like 3-5 tries to catch that one big winner... but you really have to look at it from a third person's perspective
[13:22] <+silo> what's the average loss on those failed trades
[13:22] <+silo> usually -2,-3 or -4
[13:23] <+silo> and your big trade for when you do finally catch one, lucky enough that market gave you one actually.... and that you're able to sustain the retrace 'cuz you got the worst price by chasing big bars
[13:23] <+silo> the avg win from that BIG trade is usually only +5,+6
[13:23] <+silo> not even enough to cover the cost
[13:24] <@NihabaAshi> 0,2 Exited all ES Long @ 883.00 --> + 0.25
[13:25] <+szubaark> When market gets in a Tight Range, its hard to make money
[13:25] <@NihabaAshi> They waited for me to lose my patience on that trade
[13:25] <@NihabaAshi>
[13:25] <+silo> the past few weeks near the close we usually had a big move at the end. and you did very well i think... but what does that really tell us.... not much... if you're positive throughout the trading hours of those days, then fine, but if most of the time you're positive becasue that one BIG trade at the close... that to me is luck.... 'cuz it's market dependant
[13:26] <+szubaark> my biggest losing days always happen on Low Volatility Range Days. Its trick to recognize them in Real Time though, comes from experience
[13:26] <+szubaark> I HATE sidways channels, Wedges and Flags those are Account Bleeders
[13:27] <+silo> we all do
[13:27] <+silo> let's just say this
[13:27] <+silo> how many tries does it usually take for you before you catch that big trade
[13:27] <+silo> like 3--5 tries right?
[13:27] <+silo> then you catch a decent one
[13:27] <+rickf> szu - one thing i'd reco you consider as something to help is to manage your stops better when you're in a trade and profitable. I hate seeing you give up 5-8 points of profit and turn +9 into +2.
[13:27] <+silo> sometimes 3-9 trades
[13:28] <+szubaark> last 3 days i wasnt able to catch crap.. market too tight
[13:28] <+silo> dont ever say market this market t hat
[13:28] <+silo> all i'm saying is.. there's a lot of odds against you... from the risk/reward standpoint
[13:29] <Bambam-77> good point silo
[13:29] <+rickf> 45min to fomc
[13:30] <bazooka85> 0,4 Shorts ES @ 883.50
[13:30] <+bazooka85> brb
[13:30] <+silo> it takes more tries for you to catch that big one, lose -3,-4,-5 then finally catch a +6.... then you hve the worst price, and 70% of the time big bars retrace... nwo you have to sit through retracement... now you're finally in the money. and you want it to be a +12 trade 'cuz it's a big bar and it is significant...then you end up only making +5 when you could've made +9 'cuz you wanted it to be a lot more than iy could produce
[13:30] <+Bambam-77> above 884.50 we should get some up else we head back down
[13:31] <+rickf> 886 or higher for a breakout
[13:31] <+silo> then it's all down to... is this +6 able to cover the 5 failed trades (each -2 or -3 or so) from earlier trying to catch this one big move
[13:31] <+rickf> but i doubt it
[13:31] <+silo> just a lot of odds
[13:32] <+rickf> frankly i'd like a drop down - there are some stocks i want to start positions at that are just above where i want to buy them
[13:32] <+rickf> i'll set a few orders in at 2 and see what happens
[13:32] <+silo> brb cig break
[13:32] <+szubaark> rick, they can do a Huge Spike down during FOMC clean all Stops below
[13:33] <+rickf> that's fine - i'll have my buy orders waiting
[13:35] <+bazooka85> 0,2 Covered all ES Short @ 883 --> + 0.5
[13:38] <@NihabaAshi> 0,3 Long ES @ 883.50 -> large size
[13:38] <@NihabaAshi> 10 only
[13:38] <+rickf> Must be nice -- GS eliminated 2,500 jobs in the fourth quarter and slashed average pay per worker 45 percent to $363,654 as the firm posted the first quarterly loss since going public almost a decade ago.
[13:39] <+rickf> i could live quite well on that "pay cut"
[13:39] <+szubaark> yea $350+K is not bad
[13:39] <+szubaark> try living on a traders salary LOL
[13:40] <@NihabaAshi> Must still hurts because I'm sure they were like most people "living" beyond their income levels.
[13:42] <+rickf> ppl laughed when i bought my condo and paid cash for it during the dot com boom -- others were doing 10% down on million-buck homes they had to move out of 3 years later, sell the jaguars they bought, etc.
[13:42] <@NihabaAshi> Yep
[13:42] <+rickf> best investment i ever made - lived and bought w/in my means
[13:42] <+rickf> still do
[13:42] <@NihabaAshi> Making 350k while living like making 500k will eventually catch up to anybody in a bad way.
[13:43] <+pat255> rick u are in the minority most joe want to live high ...
[13:43] <+pat255> most folks in US have 0 savings
[13:43] <+rickf> i came out of government - going from 40K to several hundred K was mind-blowing --- i just thank gods that "mama raised me right" and i was not swayed by the "free" money
[13:43] <+rickf> pat -yep
[13:44] <+rickf> sure i splurged a little bit ... nicer hotels on travel and such. but it was nowhere like a steve shwartzman life
[13:45] <+rickf> in fact a friend from 1999 is STILL trying to sell a 1.9M home in Northern VA -- 3 years on the market
[13:45] <+rickf> he can't afford the property taxes let alone the mortgage
[13:46] <bazooka85> 0,3 Long ES @ 882.00
[13:46] <+szubaark> dot com era was amazing, like money was just growing on trees
[13:46] <+rickf> yep
[13:47] <+szubaark> 100% returns on stocks were Mandatory
[13:47] <+silo> 0,4 Shorts YM @ 8652
[13:47] <+silo> 2
[13:47] <+rickf> if i knew then what i know now about options and shorting i would have doubled my post-dot com returns
[13:47] <+rickf> owell
[13:50] <+szubaark> 0,6 exit stop set ES @ 881.50 4,0 «« paper »»
[13:51] <+szubaark>
[13:51] <@NihabaAshi> I've only had one trade in my career where I can say I've made a ton of cash after loading the boat and catching the trade at it's peaks.
[13:51] <@NihabaAshi> That was a forex currency trade in the UsdCdn
[13:52] <+pat255> u need that kind 1 -2 a year
[13:52] <+pat255> to make it owrth trading
[13:52] <+futurible> 0,3 Long ES @ 882.25 4,0 «« paper »»
[13:52] <@NihabaAshi> In hindsight...wished I day traded less doing the post run-up of the dot come years and did more investing.
[13:52] <+szubaark> Niha did u have some HUGE winning days during dot com?
[13:53] <@NihabaAshi> Yeah but in relationship to what price overall did during the dot com years...
[13:53] <@NihabaAshi> It really wasn't anything.
[13:54] <@NihabaAshi> Make 15k in one day to only see the markets continue in the same direction for anothe 50k
[13:54] <@NihabaAshi> Lots of stuff like that.
[13:54] <+szubaark> 0,2 Exited all Long ES at 881.50 --> - 2 4,0 «« paper »»
[13:54] <+pat255> oh my
[13:55] <rickf_> .
[13:55] <+rickf_> plugged in an old mp3 player and crashed everything
[13:56] <+bazooka85> lol
[13:56] <+bazooka85> what are you running on
[13:56] <+rickf_> osx
[13:57] <+rickf_> was not an ipod - was an older one i use for running
[13:58] <@NihabaAshi> Getting too close to the FOMC announcement to be sitting in this losing trade.
[14:00] <+futurible> 0,2 Exited all ES Long @ 882.75 --> + 0.5 4,0 «« paper »»
[14:00] <@NihabaAshi> 0,2 Exited all ES Long @ 882.25 --> - 1.25
[14:00] * rickf_ is now known as rickf
[14:01] <+Bambam-77> sitting on hands till report
[14:01] <+Bambam-77> 3rd move usually the right on
[14:02] <+bazooka85> everything tightening up
[14:03] <@NihabaAshi> Incredible tight trading range today.
[14:04] <+rickf> typical fed day
[14:04] <+jbuch> this is the new poster child for sideways
[14:05] <+Bambam-77> avg bar is 1.5 from hi to low
[14:05] <@NihabaAshi> Yeah...today is a picture perfect example of "tight trading range".
[14:06] <+bazooka85> not trading fed day again. . .
[14:07] <+Bambam-77> 84.5 is number to watch above long below ss
[14:11] <+rickf> like waiting for the death star to fire.... stand by......stand by......
[14:12] <+silo> 0,2 Covered all YM Short @ 8669 --> - 17
[14:12] <+rickf> head fake #1 ... ?
[14:12] <+rickf> er shorts covering
[14:13] <+bazooka85> 0,2 Exited all ES Long @ 885.00 --> + 3
[14:13] <+Bambam-77> leak in play
[14:14] <+rickf> iirc they were late last time and early the time before that
[14:14] <@NihabaAshi> Their expecting 50 basis point cut...most think it's going to be the most boring fed cut decision
[14:15] <+rickf> agree
[14:15] <@NihabaAshi> 0,3 Long ES @ 883.00 -> large size
[14:15] <+rickf> what if the fed cut and nobody cared? lol
[14:15] <@NihabaAshi> 10 contracts
[14:16] <+futurible> 0,3 Long ES @ 883.50 4,0 «« paper »»
[14:16] <+Bambam-77> 84.5 giving longs trouble today
[14:18] <+futurible> 0,2 Exited 3/4 ES Long @ 885.50 --> + 2 4,0 «« paper »»
[14:18] <+rickf> no news
[14:18] <@NihabaAshi> 0,2 Exited ES Long @ 884.50 --> + 1.5
[14:18] <+rickf> ?
[14:18] <@NihabaAshi> weird
[14:18] <@NihabaAshi> news not out
[14:18] <@NihabaAshi> Delay ?
[14:18] <+rickf> uh huh
[14:18] <+futurible> 0,2 Exited Remainder ES Long @ 883.75 --> + 0.25 4,0 «« paper »»
[14:19] <+winmax60> yeap....
[14:19] <+T-stop> not yet, very late
[14:19] <+Bambam-77> huge spread in russel
[14:19] <+Bambam-77> thin
[14:20] <+szubaark> bernanke dozed off
[14:21] <+rickf> had to reboot their computers lol
[14:21] <@NihabaAshi> Yeah...my Russell data is weird...400 point spreads
[14:21] <+rickf> wow
[14:21] <+jbuch> damn
[14:22] <@NihabaAshi> Get the popcorn out...price action is unexpected
[14:22] <+rickf> The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
[14:22] <+rickf> In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 1/2 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Cleveland, Richmond, Atlanta, Minneapolis, and San Francisco. The Board also established interest rates on required and excess reserve balances of 1/4 percent.
[14:22] <+rickf> http://federalreserve.gov/newsevents/pr ... 81216b.htm
[14:23] <+rickf> those were hilights, full statement posted at url
[14:24] <+rickf> rally fading
[14:25] <@NihabaAshi> 0,4 Shorts ES @ 888.25 -> large size
[14:25] <+rickf> fast
[14:25] <@NihabaAshi> 10 only
[14:25] <bazooka85> 0,2 Exited all ES Long @ 891.75 --> + 9.75
[14:25] <@NihabaAshi> geeesh
[14:25] <+silo> 0,4 Shorts YM @ 8713
[14:25] <+silo> 2
[14:25] <@NihabaAshi> tighten stops now
[14:26] <+szubaark> too fast for me
[14:26] <+bazooka85> i want to gamble
[14:27] <@NihabaAshi> 0,2 Covered all ES Short @ 889.25 --> - 1
[14:27] <+silo> 0,2 Covered all YM Short @ 8729 --> - 16
[14:27] <+szubaark> EURO huge spike
[14:28] <+szubaark> 0,4 Shorts ES @ 888.50 4,0 «« paper »»
[14:28] <+silo> 0,4 Shorts YM @ 8720
[14:28] <@NihabaAshi> 0,4 Shorts ES @ 888.25 -> large size
[14:28] <@NihabaAshi> 10 only
[14:28] <@NihabaAshi> tighten stops now
[14:28] <+kos> triangle forming on ES
[14:29] <@NihabaAshi> 0,2 Covered all ES Short @ 888.00 --> + 0.25
[14:29] <@NihabaAshi> 0,3 Long ES @ 888.50 -> large size
[14:29] <+futurible> 0,3 Long ES @ 888.00 4,0 «« paper »»
[14:29] <+szubaark> 0,2 Covered all Short ES at 888.50 --> 0 4,0 «« paper »»
[14:30] <+futurible> 0,2 Exited all ES Long @ 890.25 --> + 2.25 4,0 «« paper »»
[14:30] <+silo> 0,2 Covered all YM Short @ 8737 --> - 17
[14:30] <+szubaark> 0,3 Buys ES @ 891.75 4,0 «« paper »»
[14:30] <+kos> short ES 891,25 paper
[14:31] <+kos> out all ES 894.50 -3.5 paper
[14:31] <+szubaark> 0,2 Exited all Long ES at 897 --> + 5.25 4,0 «« paper »»
[14:32] <+T-stop> niha, vn, finally you got one, wtg
[14:33] <+rickf> nice
[14:35] <+bazooka85> 6000+ bid
[14:35] <+bazooka85> overall
[14:36] <+kos> wow, nice bid on ES
[14:38] <+szubaark> Contracting Volatility
[14:38] <+T-stop> big size 95.5
[14:39] <+Bambam-77> 96 support for now
[14:39] <+rickf> so at .25 pct does that mean we're now just like japan ?
[14:40] <+Bambam-77> at -.25 they pay the lender
[14:40] <+Bambam-77> borrower lol
[14:41] <+szubaark> taking breather here
[14:43] <@NihabaAshi> 0,2 Exited all ES Long @ 894.75 --> + 6.25
[14:45] <@NihabaAshi> Big retracement in ER2
[14:46] <+szubaark> 0,4 Shorts ES @ 887.50 4,0 «« paper »»
[14:47] <+silo> be careful szu
[14:47] <@NihabaAshi> 0,4 Shorts ES @ 890.25 -> large size
[14:47] <+szubaark>
[14:47] <+rickf> trend still down
[14:47] <@NihabaAshi> 6 only
[14:47] <+szubaark> FOMC we can get WRB after WRB
[14:48] <+rickf> yeah and they might not go the same way
[14:48] <@NihabaAshi> 0,2 Covered all ES Short @ 888.75 --> + 1.5
[14:49] <+silo> a bearish H&S in the works
[14:51] <+szubaark> we got Gap below Plus tons of Stops
[14:53] <codehead> 8770 top of this bounce was .618 fib on the button
[14:54] <+silo> 0,4 Shorts YM @ 8769
[14:54] <+silo> 1
[14:54] <@NihabaAshi> 0,3 Long ES @ 894.25 -> large size
[14:54] <@NihabaAshi> 10 only
[14:54] <+silo> 0,2 Covered all YM Short @ 8783 --> - 14
[14:55] <+silo> 0,4 Shorts YM @ 8784
[14:55] <+silo> 1
[14:55] <@NihabaAshi> 0,2 Exited all ES Long @ 894.50 --> + 0.25
[14:56] <+silo> 0,4 Shorts YM @ 8781 -> Add
[14:57] <bazooka85> test
[14:57] <+silo> 0,2 Covered all YM Short @ 8800 --> - 35
[14:58] <@NihabaAshi> 0,3 Long ES @ 897.00 -> large size
[14:58] <@NihabaAshi> 9 only
[14:58] <@NihabaAshi> entry problem
[14:58] <@NihabaAshi> doesn't look good
[14:59] <+silo> 0,4 Shorts YM @ 8784
[14:59] <+szubaark> lets see what the 3pm bunch do
[14:59] <+Bambam-77> ss 897
[15:00] <+silo> 0,2 Covered all YM Short @ 8797 --> - 13
[15:00] <+Bambam-77> flat
[15:01] <@NihabaAshi> 0,2 Exited all ES Long @ 895.50 --> - 1.5
[15:01] <@NihabaAshi> hmmm
[15:02] <+Bambam-77> one more flush
[15:02] <+silo> 0,4 Shorts YM @ 8782
[15:03] <+szubaark> Longs must be getting nervous
[15:04] <@NihabaAshi> 0,4 Shorts ES @ 892.50 -> large size
[15:04] <@NihabaAshi> 9 only
[15:05] <+silo> man i'm nervous
[15:05] <+silo> come on
[15:05] <+silo> some more lipsticks on the chart
[15:06] <@NihabaAshi> 0,2 Covered all ES Short @ 893.75 --> - 1.25
[15:06] <+silo> i hope tf goes down
[15:06] <@NihabaAshi> 0,3 Long ES @ 895.00 -> large size
[15:06] <@NihabaAshi> 9 only
[15:07] <+bazooka85> out guys
[15:07] <+bazooka85> cya
[15:07] <+bazooka85> good trading
[15:07] <+Bambam-77> once stps at 470 area are taken out posibly
[15:07] <@NihabaAshi> 0,2 Exited all ES Long @ 895.25 --> + 0.25
[15:07] <+szubaark> lots of shakes right now, make sure nobody left on the next move LOL
[15:07] <+szubaark> HOLD ON if you can!
[15:07] <@NihabaAshi> Too fast for me to do position reversals
[15:07] <+silo> 0,6 exit stop set YM @ 8782
[15:08] <@NihabaAshi> Re-entries are almost a full point late
[15:08] <@NihabaAshi> 0,3 Long ES @ 896.25 -> large size
[15:08] <@NihabaAshi> 9 only
[15:08] <+silo> 0,2 Covered all YM Short @ 8782 --> 0
[15:09] <+silo> i'm done guys. have a good one
[15:09] <+Bambam-77> 903 is 1.27 ext
[15:11] <+szubaark> should Tank from there and close gap
[15:13] <+szubaark> ooppps
[15:14] <@NihabaAshi> 0,2 Exited all ES Long @ 906.50 --> + 10.25
[15:14] <+pat255> vvn
[15:14] <+futurible> vvn,Niha
[15:14] <+rickf> nice
[15:15] <+kos> wtg
[15:15] <@NihabaAshi> That gets me profitable overall after profits at one broker versus losses at another broker on two different platforms today.
[15:15] <+T-stop> wtg
[15:16] <+jbuch> and the winning streak remains intact
[15:17] <@NihabaAshi> I'm surprised...got a little frustrated on Infinity but that's normal because it's a new platform.
[15:17] <PeterPanBoy> hi nihaba
[15:17] <@NihabaAshi> Got tempted with Saxo for a forex trade but decided to skip the swing trade.
[15:18] <+PeterPanBoy> never used I.B ?
[15:18] <@NihabaAshi> Once and they cost me about 12k...
[15:18] <@NihabaAshi> never used them again after that.
[15:18] <+rickf> i have fx capabilities but never traded it live --- did very wel on paper
[15:18] <@NihabaAshi> First trade with them too and only trade.
[15:19] <@NihabaAshi> In reference to IB
[15:19] <+PeterPanBoy> wowh
[15:19] <+PeterPanBoy> yes..
[15:19] <+PeterPanBoy> what was the problem?
[15:20] <+drt> been using ib fr quite a long time, what was the problem with them?
[15:20] <+drt> ib
[15:20] <+szubaark> IB doesnt like Profitible traders.. LOL
[15:20] <+PeterPanBoy> really....
[15:21] <@NihabaAshi> It happen a long time ago as in many years...
[15:21] <+PeterPanBoy> I tested them from this summer expecially a lt simulator trade
[15:21] <@NihabaAshi> Problem with their TWS or whatever they called it.
[15:21] <+PeterPanBoy> it is ok
[15:22] <+PeterPanBoy> yes tws
[15:22] <@NihabaAshi> It froze while my other broker platforms continue working normally.
[15:22] <@NihabaAshi> Didn't argure nor debate with them about it...
[15:22] <@NihabaAshi> Just called them and close the account.
[15:22] <+kos> thats why you keep 2 accounts with different brokers
[15:22] <@NihabaAshi> End of story
[15:22] <+PeterPanBoy> not a nice experience..
[15:22] <@NihabaAshi> Exactly...first impression lasts the most.
[15:23] <+PeterPanBoy> yeh you not seta protective stop?
[15:23] <@X> 1,4 #FuturesTrades Info -> 1,0 Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.php?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.
[15:23] <+drt> they seem reliable lately,one reason i still stay with them is sipc insurance
[15:23] <+PeterPanBoy> or kipped ??
[15:23] <+rickf> anyone traded forex at ToS ?
[15:23] <+drt> on futures accout
[15:24] <+PeterPanBoy> I mean skipped stop loss..
[15:26] <+PeterPanBoy> meanwhile I tested new trading startegy
[15:26] <+pat255> N & others on large size trades still keep mental stops?
[15:26] <+PeterPanBoy> more about price action only and candlestick,nice results
[15:26] <+ItalianSharp> EURUSD going parabolic
[15:27] <+rickf> i have a 5pt catastrophic stop - but if the trade is -2 against me i will likely exit
[15:27] <+rickf> some days i make it a 2pt stop period - removes the emotion
[15:27] <+PeterPanBoy> pat I have mental stop near entry but a larger stop for emergency
[15:27] <+pat255> k thks guys
[15:29] <+winmax60> Niha... based on my recent experience.. I now realized that they still have a similar problem... when in active market... i found the TWS simply does not take my order.... i thought it was only me..but..just realized some common problem..i think...
[15:29] <+PeterPanBoy> yes Italian EURUSD spike up and was a good winner in my new strategy
[15:29] <+PeterPanBoy> I am very happy
[15:29] <+rickf> PPB - what strategy?
[15:29] <+rickf> I monitor eur/yen as a market barometer
[15:29] <+PeterPanBoy> removing indicators and look only price
[15:29] <+rickf> course now it might be usd/eur now that we're at .25
[15:30] <+rickf> ah
[15:30] <+rickf> always good
[15:30] <+rickf> 3:30
[15:30] <+PeterPanBoy> lose many years to find some working nice ...always lag..
[15:31] <+rickf> short es 909
[15:32] <+jbuch> 0,4 Shorts ES @ 908.25
[15:34] <+rickf> exit es 907.75 +,25
[15:34] <+rickf> oops
[15:34] <+jbuch> 0,2 Covered all ES Short @ 907.25 --> + 1
[15:34] <+rickf> 907.75 +1.25
[15:35] <+PeterPanBoy> another thing I learned recently is:
[15:36] <+PeterPanBoy> trade ONLY in STRONG signal !!
[15:36] <+rickf> i will normaly trade ONLY in a strong trend
[15:36] <+PeterPanBoy> yes
[15:36] <+rickf> this was not a strong trend - so technicall i broke my own rule
[15:36] <+PeterPanBoy> me too before
[15:36] <+jbuch> me to
[15:37] <+PeterPanBoy> but NOW STRONG signal in STRONG trend or also not
[15:38] <+PeterPanBoy> important is a CLEAR signal price MOVE in desire direction
[15:38] <+rickf> yes
[15:39] <+jbuch> I wanted to take the first reversal and didn't and it turned out great. so now I am being dumb
[15:39] <+PeterPanBoy> to be more clear,where in a trend normal you see a nice 10 spot to enter
[15:40] <+PeterPanBoy> better to entry only in one or two,the CLEAR one
[15:41] <+PeterPanBoy> of course the trick is spot which is the best spot
[15:41] <+PeterPanBoy> but for me NOW is trade less vs before
[15:42] <+PeterPanBoy> my trading is improving for NOW
[15:42] <+PeterPanBoy> need further intensive testing ...
[15:42] <+PeterPanBoy> will see..
[15:44] <+PeterPanBoy> but Nihaba style I think is nice so I wanna dig more inside price action
[15:44] <+PeterPanBoy> and candlestick and volatility study
[15:56] <+szubaark> lotf of fake tops today
[15:59] <+codehead> the pb was within 2 ticks of .382 retracement, then back up for a new hod
[16:04] <@NihabaAshi> [15:26] <+pat255> N & others on large size trades still keep mental stops?
[16:04] <@NihabaAshi> I still use a two stop method...large hard stop and mental smaller stop
[16:04] <+pat255> k thks N ...
[16:04] <@NihabaAshi> However, I've played around with auto stops recently with little luck via Infinity
[16:05] <+pat255> y ...if I keep 3 pt stop gets hit ..more than ..so need to work on enrteies..
[16:05] <@NihabaAshi> Auto stops takes away many trade options I use especially when markets are moving fast.
[16:05] <+pat255> yes
[16:07] <+pat255> gn all
[16:08] <+szubaark> oh well, 4th losing day in a row
[16:09] <+szubaark> these tight ranges have been killing me
[16:14] <+szubaark> then got on wrong side of this FOMC move for a HUGE LOSS
[16:31] <+jbuch> gn all
[16:33] <werner> gn all
[17:14] <+PeterPanBoy> see ya tomorrow
[17:14] <+PeterPanBoy> bye
[17:26] <@X> 1,4 #FuturesTrades Info -> 1,0 Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.php?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.
[19:29] <@X> 1,4 #FuturesTrades Info -> 1,0 Some members (including me) explain basic details about their trades posted in #FuturesTrades @ http://thestrategylab.com/forum/index.php?board=58.0 and there's a link there to take you to #FuturesTrades archived logs if you're interested in reviewing past trades or market commentary posted in #FuturesTrades.
Session Close: Tue Dec 16 20:04:04 2008Trading Edge: Trading Strategies -> Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, 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), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)
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Current Performance Record of M.A. Perry |
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Today |
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Emini ES points |
+47.50 |
+415.00 |
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U.S. Dollars |
$2,375 |
$20,750 |
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