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Dec 29th Thurs 2005 Trade Log

#FuturesTrades is a private and free realtime trading posting room on the IRC Othernet server.

You'll find below the text log of realtime trades that were posted by full-time and part-time traders from around the world and the timestamp is eastern standard time (est). 

Also, if you want to see an example of a trading day of what the trades actually look like on a computer screen while using mIRC to communicate with traders from all over the world in #FuturesTrades...click here.


 Session Start: Thu Dec 29 09:31:39 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
<NihabaAshi> Late post of my remaining EuroFX contract that had its trailing stop hit in the overnight trading session...09:33

Trailing Stop Hit EuroFX @ 1.19000 --> + 0.002
<pat255> nice trade niha ,,,
<NihabaAshi> :)
<szubaark> :( i thought u might get a nice swing trade going
<NihabaAshi> Same here...09:34

But the missed Entry signal that I chased downwards for an entry into a pt2 WRB was the problem with this trade not developing into a swing trade.
<pat255> matched yesterday's high ym09:40
<szubaark>  Long YM @ 10866
<danshirley>  Shorts YM @ 10859 «« paper »» 09:41
<szubaark> news could be the catalyst we need to breakout09:44
<danshirley>  Covered all YM Short @ 10858 --> + 1 «« paper »» 09:45
 coming up on 10AM
 U.S. NOVEMBER EXISTING HOME SALES FALL 1.7% TO 6.97M10:01
 U.S. EXISTING HOME INVENTORY AT 19-YEAR HIGH10:02
 CONFERENCE BOARD: HELP-WANTED AD INDEX 39 VS NOVEMBER'S 38
  DECEMBER CHICAGO PMI 61.5 VS. 60.4 EXPECTED10:03
 oil inv in 2510:05
<szubaark> yawn10:07
<danshirley> prob have another day like yesterday..10:09
<codehead> friend who read the bond close last night said (at the time) signal was flat with bullish bias--he thought mkt might go steady up all day10:10

see if that happens10:11
<NihabaAshi>  Long YM @ 10858.00 -> small size 10:12
 I'm 3 points beyond my "chase range" on this trade...no wiggle room :(10:13
<szubaark> and im at the high :))
<NihabaAshi>  exit stop moved to breakeven YM @ 10858.00 10:14
<pat255> yeah tight stops ..total mess it seems
<NihabaAshi>  sell limit to exit YM long @ 10868.00 10:16
  Trailing Stop Hit YM @ 10858.00 --> 0 10:18
<danshirley> GM at new 23 year low.....again10:19
<szubaark>  Exited all YM Long @ 10858 --> - 8 10:20
 what a frikin mess
 will wait for oil report10:21
<eminitrader>  Long ES @ 1265.25 10:22
<szubaark>  Shorts YM @ 10853 10:26
<eminitrader>  Exited all ES Long @ 1265.25 --> 0 10:27
<codehead> long YM 1085310:29
<eminitrader>  Long ES @ 1265.25
<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.
<szubaark> chop city10:32
<danshirley> CRUDE STOCKS UP 100,000 BARRELS IN LATEST WEEK: DOE10:34
 DISTILLATE STOCKS DOWN 900,000 BARRELS IN LATEST WEEK: DOE
 NATURAL GAS IN STORAGE DOWN 162 BCF IN LATEST WEEK: DOE
<szubaark>  Covered all YM Short @ 10857 --> - 4
<danshirley> market don't care10:35
<szubaark> nope.. not when big boys are away
<codehead> raised stop too much, out +610:36
 YM
<szubaark>  Long YM @ 10849 10:54
<codehead> so far, ER most resilient, fully bounced the dip10:55
 YM will look good if it can get above the high or so11:00
 ER nice11:01
<eminitrader>  Exited 1/3 ES Long @ 1266.75 --> + 1.5 11:03
<szubaark>  Exited 1/2 YM Long @ 10855 --> + 6
  exit stop set YM @ 10850
<codehead> ER hod11:04
<szubaark> increasing my timeframe for PT2
 breakout could be good from this 2 day range11:06
<codehead> ya

15 min chart pretty interesting11:07
<szubaark> YM also Double bottom so far, ER higher low11:09
<pat255> portfolios cleanup?11:10
<codehead> late post: long YM 10855 (had alarms to service, sorry)11:13
 hm, took +111:14
 need to look at this again
 ER leading today, taking a pb11:15
 i sitll like YM here, should have kept i think11:16
 cummon YM11:18
 good grief, it in a coma szu11:20
 trying...11:26
<szubaark> i increased the timeframe, that helps11:27
<codehead> gold down slightly, but metals stocks rocking11:28
 ER going11:29
 new hod11:31
<szubaark> they probobly waiting for lunchtime when everyone gone, then they'll break it
<codehead> it's late again, but need to post my losses too: went long YM and bailed -211:33
<szubaark> here they coming for my Stop
<codehead> prolly better to wait for a breakout or shakeout11:34
 my last entry was compulsive and not a good spot--10860, just below the resistance :-P11:35
 let the ER pop influence me
 682.40 some support on ER11:36
<szubaark> thing is they rretracing every big candle on ER thats why the hesitation on YM,ES

tough to get in without getting shaken out
<codehead> yeah
<szubaark> i definetly wont be here tomorrow LOL11:38

frikin 5 Reports today and we at opening Price. tells u they move it when they WANT TO11:39
<codehead> yeah, mkt in a coma
<szubaark> If Niha put on some SIZE he could probobly move this market :))11:40
<codehead> hehe
<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.11:41
<codehead> i should go make breakfast so the mkt can move
<szubaark> i hope they hit my Stop so i can leave and do omething else11:42
<codehead> lol--yeah, tortured by bordom
 boredom
 3 min YM cci getting to extremes down, moved the price about 2 ticks11:43
<szubaark>  Exited all YM Long @ 10850 --> + 1
<codehead> well, got your wish
<szubaark> yes.. im gone
* szubaark is now known as szubaark_away
<codehead> k, have fun
<cashflowme> shorted 66.25 @ 11:11, covered 65.25 @ 12:1812:29
 es12:30
 reason for trade == speculation
<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.12:53
<NihabaAshi> Not much trading today...nothing unusual for the week leading into New Years Day.12:57
<cashflowme> hard to find a setup12:58
<pat255> but these last couple of days have been almost too slow to bear12:59
<cashflowme> 65.50 @ 12:32 had a divergence buy but missed it, too late to chase13:00
<NihabaAshi>  Long ER2 @ 685.10 -> small size
 Intuition trade...no trade signal from my methods.13:01
 Only risking 1 contract :)
<cashflowme> Short es 6.2513:09
<pat255> nq 39k at this time of the day. really pitiful, relative to ym
<cashflowme> 66.2513:10
<WannaBeBOS> oil running some13:15
<cashflowme> risking 1 pt13:16

target 65.7513:21

stop 67.25
<codehead> YM dead stop, large offer still sitting at 10849, but i have a hunch he really hope to not find a buyer13:28
<cashflowme> half out 65.7513:32

new stop 66.7513:34

no guts today13:35
<codehead> sheesh, i have 9 ticks today on 5 YM trades13:40
<cashflowme> lots of pro traders on vacation
<codehead> at this point, i'd shoot myself if i went out red on a boring day like this13:42
 so i'll go long, paper, at 10848 YM
 stop 10839
 taionale is that, just looking at this week intraday, i see 20 down but 100 up13:45
 don't think we have the buyers for 100 up, but just testing the theory13:46
 (that was "rationale"
<jbraswell> 20 down? What does that mean?
<codehead> just looking at lows of the week13:47
 20 below my stop
 roughly
<jbraswell> ah, I see13:48

thx
<codehead> i'm jsut bored jb
<jbraswell> me too

and in the red
<cashflowme> red is common holiday weeks
<codehead> lol13:49

well, that's why this is a paper trade, scraped a few trades together for enough to buy lunch, don't want it too take a dinner out of me

woo, a 70 contract buy on YM 1085013:54
<cashflowme> ready to throw in the towel13:56
 all out 65.5013:57
 5/8 on 4 es contracts14:00
 reason for that trade was divergence on 1 minute, not confirmed on 3 minute14:01
 so went small
<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.14:02
<codehead> YM wants to try14:06
 just noticed GM went green form new low14:07
<cashflowme> wakey wakey14:10
<codehead> dang, had been planning to buy 10850 break until i lapsed into a coma from boredom
<szubaark_away> cool?
* szubaark_away is now known as szubaark14:11
<codehead> YM testing resistance
<cashflowme> es broke resistance and fell back14:13
<codehead> ER tapped the high again
<cashflowme> choppy divergence short es on 3 minute14:14
 not going to take it14:15
 done for now
<codehead> move stop YM 10854 (paper)14:16
<cashflowme> es short confirmed on 3 minute14:18
 not on 1 minute
 my mistake, not yet confirmed, candle hasn't closed14:19
<codehead> ER testing hod14:21
<szubaark> calm before the storm?14:23
<codehead> calm before the slightly less clam?

oops

calm
<szubaark> code ive seen them do some weird stuff before
<cashflowme> short 3 minute now confirmed, if anyone cares, on es14:24
<codehead> well, my hunch today has been for eod run up
 but remains to be seen if enough volume for a run either way
<NihabaAshi> VIX trying to be a spoiler for me trade...it wasn't doing anything counter-trend until a few minutes ago :(14:26
<szubaark>  Long YM @ 10862
<NihabaAshi>  Exited ER2 Long @ 685.50 --> + 0.4 14:28

I'm now back to a NEUTRAL bias for the trading day.
<cashflowme> cool
 tough slog
<pat255> trading here is very iffy ...with so low vol can jerk around..14:29
<codehead> move stop to 10858 fro +1-14:37
 for +10
 out YM +10 (paper)
 was going to sell at 10854 stop or eod, but decided i'd prolly bail here if it was a real trade14:38
 GM hod14:40
 stop buy in YM 1086114:42
 pull my paper stop buy14:48
 could still get that push14:57
<szubaark>  Exited all YM Long @ 10846 --> - 16 15:09

Shorts YM @ 10846 15:10

here come the fireworks15:11
<X>  #FuturesTrades Info -> This room is only for Trade Posting (real or paper) and/or discussions about a posted trade or key market events that could affect a trader's open trade position. LURKING not allowed..strictly enforced.15:14
<substanz>  Long YM @ 10830 «« paper »» 15:17

Exited all YM Long @ 10825 --> - 5 «« paper »»
<szubaark>  Covered 1/2 YM Short @ 10926 --> - 80
  Covered 1/2 YM Short @ 10826 --> + 20 15:18
<togglex> sigh, i went to take a dump at 1500h15:19
<codehead> so did mkt
<substanz>  Long YM @ 10827 «« paper »»
<szubaark> lets see if they hammer this down some more15:20
<codehead> well, there's the week's lows test on YM that i spoke of earlier15:23

got within a tick of it
<substanz>  Exited all YM Long @ 10825 --> - 2 «« paper »» 15:24
<danshirley> The only 'event' I see is that bonds closed with a firmly inverted yield curve15:29

it was the inversion of the yield curve that caused the drop on tuesday15:31

(MarketWatch) -- U.S. stocks fell into negative territory Thursday, as an inversion in the Treasury yield curve unnerved investors and offset a better-than-expected reading of manufacturing activity in the Chicago region and a sharp bounce in General Motors.15:37

The Treasury yield curve -- the spread in the interest rates paid by shorter-term and longer-term maturities -- which was virtually flat for most of the session, inverted in the final hour of trading to spook investors.15:38

It's so irrational because the curve has been flat for a long time and to panic because it flops to one side or the other makes not a lot of sense15:39
<szubaark> will hold it til last minute, you never know with these clowns15:50
<codehead> nice job16:00

10804
<szubaark>  Covered all YM Short @ 10809 --> + 37 16:01
 profit for day, Im Happy.
<codehead> awesome trade for a narrow day like this
<szubaark> code, you never know what these punks have up their sleeve16:02
 [14:24] <szubaark> code ive seen them do some weird stuff before
<codehead> yeah, i shoulda been hedging short when it couldn't break 10862 area

dow cash didn't give up the intraday low for the week, but YM sure did16:04
<szubaark> I was expecting Niha to jump on that dark WRB
<szubaark> how is it going now?16:15
<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.16:26
<NihabaAshi> [16:01] <szubaark> Covered all YM Short @ 10809 --> + 3717:16
 Nice trade szu...very nice especially during the week of trading prior to New Year's Day.
 Take care all and I won't be here tomorrow :)17:17
* NihabaAshi is now known as NihabaAshi_away
* DisconnectedSession Close: Thu Dec 29 17:18:05 200517:18

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