Session Start: Fri Mar 21 09:23:51 2003 Session Ident: #FuturesTrades [09:23] * Now talking in #FuturesTrades [09:23] * Topic is 'Trade Journals with daily, weekly or monthly results are posted by traders at http://pub90.ezboard.com/fthestrategylabfrm87 Note: Journals are not required.' [09:23] * Set by X on Fri Mar 14 07:29:10 [09:23] [NihabaAshi] Password changes, trade post script changes and trader profiles are posted ONLY at free discussion board at http://www.thestrategylab.com/Forums.htm [09:23] Howdy Nihaba [09:24] hi Niha [09:24] Good morning all. [09:25] Wow, we're in our 8th up session in a row. [09:25] on ES [09:25] 0,3 covered all Short: 1092.5 --> + 2 4,0 «« paper »»  [09:25] Gratz Lox [09:25] Thanks. :) [09:25] I noticed it didn't get much lower than that since 830 this morning. [09:26] I'm thinking maybe it's a support level? [09:26] today's could be the 8th....if happens so [09:28] 0,3 Buys NQ @ 1093.50 4,0 «« paper »»  [09:30] Great. My software is crashing. [09:31] 0,4 Shorts ES @ 883.75 4,0 «« testing »»  [09:31] real trade [09:32] OH! the market opened. That's what happened. [09:33] 0,3 entered Long « 882.75 »  [09:33] It does have a tendency to do that, Lox :D [09:34] * szubaark_away is now known as szubaark [09:35] 0,4 exited 1/2 Long « 883.75 » + 1  [09:36] 0,4 exited remainder Long « 883.00 » + 0.25  [09:38] 0,4 entered Short « 883.00 »  [09:39] eminis looking choppy [09:39] 0,4 Shorts ES @ 883  [09:40] 0,3 covered 1/2 Short « 882.00 » + 1  [09:40] 0,6 moved Trailing Stop to Breakeven at 883.00  [09:40] 0,2 exit 1/2 ES @ 881.75 --> + 1.25  [09:41] Ack. What happened? The floor dropped out. [09:41] Not enough of the floor yet :D [09:42] 0,3 Buys ES @ 882.75  [09:42] 0,3 Trailing Stop Hit « 883.00 » 0  [09:43] 0,4 exited all Long: 1092 --> - 1.5 4,0 «« paper »»  [09:43] 0,4 Shorts NQ @ 1091.50 4,0 «« paper »»  [09:44] 0,3 Buys ES @ 882.50  [09:45] That enouhg for you tet, FFT? [09:45] Enough floor, that is? [09:45] 0,3 entered Long « 881.50 »  [09:45] 0,2 exit all ES @ 882 --> - 0.5  [09:46] 0,2 exit all ES @ 880.75 --> + 3  [09:46] That is. :D [09:46] It's going down to yesterday's high [09:46] I *had a trailing stop at 883, bu then saw P^t there, and new everybody else was there as well. [09:47] So I moved it up a tick. [09:47] 0,3 Buys ES @ 880.50  [09:48] 0,6 exit stop set ES @ 881.50  [09:48] 0,3 covered all Short: 1088 --> + 3.5 4,0 «« paper »»  [09:49] Funny how the market will just miss those "magic" numbers when going up (like yesterday, it only hit 879.5) but smash through them going down (like today, down to 879.75) [09:49] Woot! I got got scared, because it wasn't dropping any more, and I gotta hit the road. [09:49] I'll be back from work. [09:49] 0,3 Buys ES @ 881 4,0 «« paper »»  [09:50] Cya Lox [09:50] 0,4 exited Long « 881.25 » - 0.25  [09:50] 0,2 stop hit ES @ 881.50 --> + 1.5  [09:50] 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...strictly enforced. [09:51] 0,2 exit all ES @ 881 --> + 0.5  [09:52] 0,4 Shorts ES @ 880.75 -> Scalp Trade  [09:52] 0,3 entered Long « 881.50 »  [09:53] morning [09:53] 0,4 exited 1/2 Long « 882.50 » + 1  [09:53] 0,2 exit all ES @ 882 --> + 1 4,0 «« paper »»  [09:54] 0,4 exited remainder Long « 881.50 » 0  [09:54] 0,2 exit all ES @ 880.25 --> + 0.5  [09:54] 0,2 exit long ES @ 880.50 --> - 2.25  [09:54] 0,4 reverse and enter short ES @ 880.50  [09:54] 0,4 Shorts ES @ 880.50  [09:54] 0,4 exited Long « 880.50 » - 1  [09:54] 0,4 Reverse and Enter Short at 880.50  [09:54] 0,4 Shorts ES @ 879.75  [09:55] that last post messed up sorry [09:55] 0,2 exit all ES @ 879.50 --> + 1  [09:55] exited at b/e and reversed [09:55] at 880.50 [09:55] 881.50 [09:56] let me try that again [09:56] 0,4 entered Short « 881.50 »  [09:56] 0,3 covered 1/2 Short « 880.50 » + 1  [09:56] k [09:57] sorry bout that [09:57] 0,6 opened Trailing Stop at 881.25  [10:00] 0,3 covered remainder Short « 879.50 » + 2  [10:00] 0,2 exit all ES @ 880.00 --> + 0.5  [10:02] 0,3 Buys ES @ 879.75  [10:02] 0,3 Buys ES @ 880 4,0 «« paper »»  [10:05] 0,2 exit all ES @ 881 --> - 1.25  [10:05] 0,3 OPENs Long on NQ @ 1090.50  [10:06] 0,2 exit 1/3 ES @ 882 --> + 2.25  [10:06] 0,2 exit all ES @ 881.75 --> + 1.75 4,0 «« paper »»  [10:08] 0,3 entered Long « 882.00 »  [10:08] 0,3 Buys ES @ 881.75  [10:08] 0,3 Buys ES @ 882  [10:08] 0,4 exited Long « 882.50 » + 0.5  [10:09] 0,4 CLOSEs Long on NQ @ 1091.50 0,12 --> 0,3 + 1  [10:11] 0,4 Shorts ES @ 881.50  [10:12] 0,2 exit all ES @ 882.25 --> + 0.5  [10:13] 0,3 entered Long « 881.50 »  [10:15] 0,3 Buys ES @ 881.50  [10:15] 0,3 OPENs Long on NQ @ 1091  [10:16] 0,2 exit all ES @ 882.5 --> + 0.5  [10:16] 0,2 exit all ES @ 882.25 --> + 0.75  [10:16] 0,4 exited 1/2 Long « 882.50 » + 1  [10:16] LOL, we all bail on that one [10:16] 0,6 moved Trailing Stop to Breakeven at 881.50  [10:17] * p^t laughs [10:17] sometimes its best to take when it is given to you [10:17] I originally wanted 883 on the breakout, but it just didn't seem to want to go there :( [10:17] 0,4 CLOSEs Long on NQ @ 1091.50 0,12 --> 0,3 + 0.5  [10:17] Currently...I got the decreasing volume on my side. [10:18] Hopefully its good enough to get my profit-target. [10:18] 0,4 Trailing Stop Hit « 881.50 » 0  [10:18] What's your target, Nihaba? [10:19] 879.50 [10:19] 0,4 entered Short « 882.00 »  [10:19] 0,3 OPENs Long on NQ @ 1091.50  [10:20] 0,2 exit remainder ES @ 881.75 --> + 2  [10:20] 0,4 Shorts ES @ 881.75  [10:20] Stop/loss at 882.75 [10:20] 0,6 exit stop set ES @ 882.75  [10:21] Man, I coulda got the spread on that one instead of paying it. Gotta learn to do that :( [10:21] 0,4 Shorts ES @ 881.50  [10:21] 0,3 covered 1/2 Short « 881.00 » + 1  [10:21] 0,4 CLOSEs Long on NQ @ 1091 0,12 --> 0,4 - 0.5  [10:21] 0,6 moved Trailing Stop to Breakeven at 882.00  [10:21] 0,2 exit all ES @ 880.25 --> + 1.5  [10:22] There ya go Nihaba! [10:22] 0,3 covered remainder Short « 880.00 » + 2  [10:22] 0,2 exit 2/3 ES @ 879.75 --> + 1.75  [10:23] No fill so far. [10:23] :( [10:23] I'm going to try and get greedy on this short a little more. [10:24] 0,2 exit remainder ES @ 879.25 --> + 2.25  [10:24] In this choppy weather? U r a madman. :D [10:24] 0,3 Buys ES @ 879.25  [10:24] nice entry ratso [10:25] perfect timing, and brave :) [10:25] thx [10:25] 0,2 exit all ES @ 880.25 --> + 1  [10:25] Defense stocks left out of rally; war going too well? 2003/03/21 10:17:35 [10:26] Those Krazy analysts. War is bad for defense stocks? LOL [10:26] 0,4 OPENs Short on NQ @ 1089  [10:26] 0,4 Shorts ES @ 879.75  [10:27] it might be relatively bad for them if ending too quickly :) [10:28] I wish I could write their scripts. "Too many red bars led to a down day for the markerts today" :D [10:29] 0,2 exit all ES @ 878.50 --> + 3  [10:29] 0,3 CLOSEs Short on NQ @ 1087 0,12 --> 0,3 + 2  [10:29] wtg Niha ! [10:29] nice trading niha.. [10:29] Thanks... [10:30] 0,2 exit all ES @ 879.25 --> + 0.5  [10:30] 0,4 Shorts ES @ 879.25  [10:30] 0,3 Buys ES @ 879  [10:30] reason why I decided to go for more beyond my original profit target was the fact that both ES and NQ fell through their respected 200eMA support about the same time. [10:31] 0,2 exit all ES @ 879 --> + 0.25  [10:32] via the 3min all session chart (reference to 200eMA) [10:32] 880 is another ES magnet [10:33] 0,4 entered Short « 880.25 »  [10:34] I'm now entering a time zone where I frequently make a losing trade, switching to paper [10:34] Nice trade there, Jazz :D [10:35] 0,2 exit 2/3 ES @ 881.25 --> + 2.25  [10:35] :) [10:35] 0,4 Shorts ES @ 881 4,0 «« paper »»  [10:36] Target is 879.5 [10:36] 0,3 covered Short « 880.75 » - 0.5  [10:40] Geez, is there some press conferrence on TV or soemthing? [10:41] 0,4 entered Short « 881.75 »  [10:41] 0,2 exit remainder ES @ 881.75 --> + 2.75  [10:41] 0,2 exit all ES @ 881.5 --> - 0.5 4,0 «« paper »»  [10:44] LOL, I;ve got TICK *and* TRIN trending up. [10:44] 0,3 covered Short « 881.75 » 0  [10:44] hit my partial exit price but didnt fill [10:45] 0,3 entered Long « 882.50 »  [10:45] 0,4 exited 1/2 Long « 883.00 » + 0.5  [10:45] * FutureFuturesTrader gives p^t a "Move the the Font of the Line" Token. [10:45] yeah really ! [10:46] 0,4 exited remainder Long « 883.00 » + 0.5  [10:47] get outtta my way i need to cover ... now !! [10:47] lol [10:47] :> [10:47] Looks like TRIN is starting to give up to TICK. . . [10:50] 0,3 Buys ES @ 862.75 -> Scalp Trade 4,0 «« paper »»  [10:50] 0,4 Shorts ES @ 882.75  [10:51] 0,2 exit all ES @ 883 --> + 20.25 4,0 «« paper »»  [10:51] Wow, whatta scalp :D Should bee for just +.25 [10:52] * HPete_ is now known as HPete_away [10:52] 0,4 entered Short « 883.25 »  [10:53] 0,3 covered 1/2 Short « 882.00 » + 1.25  [10:54] 0,6 moved Trailing Stop to Breakeven at 883.25  [10:55] 0,2 exit 2/3 ES @ 881.50 --> + 1.25  [10:56] 0,4 OPENs Short on NQ @ 1090  [10:56] 0,4 Shorts ES @ 881.5  [10:56] 0,3 CLOSEs Short on NQ @ 1088 0,12 --> 0,3 + 2  [10:56] Got the bid, come on ES! [10:57] Re, y'all. [10:57] Dog [10:57] 0,2 exit all ES @ 880.5 --> + 1  [10:57] Wow, and it didn't immediately trade through. Cool [10:58] That was neat. There actually people behind me on that 880.5 bid :D [10:58] 0,2 exit remainder ES @ 880 --> + 2.75  [10:58] * Loxley buys NQ long at 1087.5 (papertrade, scripts not installed here at work) [11:00] * Loxley thinks he enters a Sell Limit order, but it executes at Market 1088. +.5, but he needs to find the error. [11:00] Anybody know where Kalle went to? [11:02] Jazz and p^t...you two picked that ES intermediate top very nicely [11:02] * Loxley buys NQ at 1087.50, and tries again to set a sell limit at 1091.50 [11:02] 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...strictly enforced. [11:02] yes, thanks [11:03] Ah. Found my problem. Just learned a bit more about my software. [11:04] p^t still holding that Short? [11:04] I see now...holding half after banking some. [11:05] yes [11:06] Looking for a gap close, p^t? [11:07] kinda [11:08] 0,4 Shorts ES @ 878.75  [11:10] 0,3 Buys ES @ 879  [11:11] * JAKU is now known as JAKU-afk [11:12] 0,2 exit long ES @ 878 --> - 1  [11:12] 0,4 reverse and enter short ES @ 878  [11:13] 0,3 covered remainder Short « 877.00 » + 6.25  [11:13] Nice p^t...very nice trade from start to finish. [11:14] thanks Niha :) [11:14] 0,2 exit 2/3 ES @ 877 --> + 1  [11:14] very nice pt. [11:14] 0,3 OPENs Long on NQ @ 1082.50  [11:15] thanks Jazz :) [11:16] i was feeling a bit iffy there for a bit when we were testing the earlier pivot low [11:16] * Loxley sets a STOP LOSS equal to 2% of his hypothetical trading capital. [11:16] NQ broke and i felt better [11:16] 0,4 CLOSEs Long on NQ @ 1083.50 0,12 --> 0,3 + 1  [11:17] 0,2 exit remainder ES @ 877 --> + 1  [11:20] 0,2 exit all ES @ 878 --> + 0.75  [11:21] 0,3 Buys ES @ 878  [11:23] * Loxley 's stop hits for a 5 point loss. Youch. [11:23] She's out to hose us both, Jazz :( [11:24] lets give her some room. [11:24] So, at what point should a person step away from the table, so to speak? [11:24] After you've bought your third Jag. :D [11:24] After profits or after losses? [11:25] good tast, FFT. [11:25] Bah. Gimme an old GTO or tricked out Bonnie. :) [11:25] Lucas electrics are notorious. :) [11:25] Nihaba: Heck, either. [11:26] strong sup at 877.00 [11:26] careful on the shorts here [11:26] Lox, it depends. Take me for today, fer instance. Lately, I'v been giving most of my profits back during the afternoon, so I'm done trading for real now. [11:29] Go Jazz! Woot! [11:29] 0,3 entered Long « 878.50 »  [11:29] * Loxley buys NQ at 1085. [11:30] yes , perfect entry Jazz [11:30] thats the way I like her. [11:30] 0,4 exited 1/2 Long « 880.50 » + 2  [11:30] 0,6 moved Trailing Stop to Breakeven at 878.50  [11:30] must have been some good news :) [11:31] Ooooo, a bigger air assult scheduled for pretty soon. [11:31] 0,2 exit 1/3 ES @ 881 --> + 3  [11:31] dang nice ! [11:32] :) [11:32] Once the market knew Jazz was long, up it went :D [11:32] lol, told you she needed some room. [11:40] 0,4 exited remainder Long « 881.50 » + 3  [11:41] nice pt [11:42] thanks, was not sure i was gonna get that [11:42] glad i stuck it out [11:43] gonna take a lunch break, bbl [11:43] good trading everyone ! [11:43] bon apetit [11:45] 0,4 Shorts ES @ 881.00  [11:46] 0,2 exit 1/3 ES @ 881.25 --> + 3.25  [11:50] watch out [11:53] * Loxley hits his NQ sell limit of 1090 for a 5 point gain. [11:54] Thus erasing his previous 5 point loss, at least. [11:54] ohmy!! [11:55] Its a barn burner. [11:55] * Loxley shorts NQ at 1095.5 [11:55] 0,2 exit remainder ES @ 886.50 --> + 8.5  [11:56] 0,4 Shorts ES @ 885.50 -> Add  [11:57] * Loxley covers NQ @ 1092.5 for a cool 3 points. [11:57] * szubaark1 is now known as szubaark_Away [11:57] some Iraqi NEWS ?? [11:58] ok guys, going for a break here. [11:58] cya Jazz [11:59] I saw the Bearish Engulfing JC pattern on the ES and couldn't resist from adding :) [11:59] * Loxley shorts NQ @ 1090. [11:59] good luck with that trade, niha.. [12:00] I'm at a profit at breakeven at 883.25 between the short positions. [12:00] Meant...at profit at 883.00 [12:01] breakeven at 883.25 [12:01] <^N_K^> rurmors sodom is dead [12:01] ok [12:01] DJ UK Official Says Likely Saddam Killed In Strike-BBC [12:01] I heard the rumor also...will take a minute to digest this rumor. [12:02] hi [12:03] Howdy Kalle [12:04] Ya missed some nice trading this AM [12:04] Geessh...I didn't get filled...that's twice today or 3x today. [12:04] yes FFT :/ [12:06] * Loxley escapes from his short, covering NQ at 1091 for a 1 point loss. [12:06] U.S. Confirms Saddam Hussein in Video [12:06] http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030321/ap_on_re_mi_ea/war_saddam_15 [12:06] Stale news, BTW [12:07] So that really was him on the video? [12:08] I hoping the market figures out its old news and that someone was simply hyping it. [12:13] 0,2 exit 1/2 ES @ 885.25 --> + 0.25  [12:14] 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...strictly enforced. [12:14] It's amazing how someone or organization timed hyping old news from earlier this morning... [12:14] * Loxley shorts NQ at 1085, believing things to be a bit overpriced. [12:15] As if to say...lets wait till the market put in some higher lows to hype the news again. [12:15] Maybe the newswires own stock? [12:16] :) [12:17] * QUASAR is now known as QUASAR_afk [12:17] * QUASAR_afk im outta here... cya folks [12:18] Wow, volume really jumped, and now it's barely puttering along. [12:18] cya Q. [12:18] 0,4 Shorts ES @ 885.50  [12:22] BBC now saying they can't confirm what they had earlier. [12:23] Meant...they can't confirm what was said earlier about Saddam most likely been killed in that initial air strike of "target of opportunity". [12:24] * Loxley has limits and stops set around his short. "One or the other will hit eventually." [12:24] i guess they didn´t think they really got him -- he´s not that stupid [12:25] They won't know for sure until the mechanized units get to Bagdad. [12:25] i mean it was absolutely clear that they´d attack his bunkers and palaces first [12:25] yes [12:27] * Loxley 's NQ BUY STOP hits at 1094 for a 9 point loss. [12:28] 0,4 Shorts ES @ 886.25  [12:29] * Loxley Shorts NQ @ 1093.50 [12:30] bearish engulfing + tweezer top @ 1min ES ? [12:30] Invalid signal. [12:31] k [12:31] * Loxley has an uncanny ability to short into a rise. :/ [12:31] If it doesn't look like those charts I posted the other day...it most likely isn't a Bearish Engulfing signal. [12:32] * Loxley doesn't understand candles yet. But will, eventually. [12:32] That Bearish Engulfing @ 1155am est is visually...a nice setup. [12:33] * Loxley decides to play along with everyone else. "They want a rally? I'll give 'em a rally." [12:33] I only got +0.25 points out of it after I didn't get filled at 882.25 [12:34] I'm still pssst about that. [12:34] 1min chart ? hmmm... I don´t have any at 1155am [12:34] * Loxley covers his short at 1096 for a 40 buck loss. [12:35] * Loxley buys NQ at 1095, and will just hold it for a while and see what happens. [12:35] but it looks like a bearish higher shadows @ 3min ;-) [12:36] * Kalle thinks he has to learn a lot about JC patterns... [12:36] 0,4 Shorts ES @ 887.25 4,0 «« paper »»  [12:37] Kalle...one of the tricks to candlesticks is the visualization... [12:39] and to know when they are valid or not [12:40] ;-) [12:43] 0,2 exited 0,3 Short: 888.5 --> - 1.25 4,0 «« paper »»  [12:44] Kalle...here are the only two Bearish Engulfing patterns for today...so far... [12:44] http://www.thestrategylab.com/032103ES03M.gif [12:45] 0,2 exit all ES @ 888.75 --> - 2.5  [12:45] ok [12:46] In that second Bearish Engulfing...I initially wanted that first cover signal (profit-target)... [12:46] but changed my stop and tried to get filled at a better price when that long red candle appeared 1202pm - 1203pm est. [12:47] I didn't get filled it bounced very strongly. [12:47] By the way...I've been using IB for the past few days...not sure if that has anything to do with it. [12:48] crazy, my TS chart looks totally different -- no engulfing pattern at 1155 area :/ [12:48] Kalle...can you "visually" see the difference between what you thought was a Bearish Engulfing? [12:49] Hey, I have a question... is there some fixed number of contracts? I'm wondering if there's not some method similar to "card counting" in blackjack that might give one a clue about what to do. I mean, if you know how many folks are buying and selling at a given price, shouldn't you be able to track that and determine smething meaninful out of it? [12:49] My stop is 891.00 [12:50] yes, Niha :) [12:50] 0,2 exit remainder ES @ 891.00 --> - 5.5  [12:51] That's incorrect...it should be -10 points. [12:51] from the original short position. [12:52] -10 on the 881.00 Short Entry and -5.50 on the 885.50 Short Entry (2nd one at that price). [12:55] Hmmm...total ES today - 11 points. [12:56] 0,4 Shorts ES @ 891.75 4,0 «« paper »»  [12:56] Also...I'm at 6 roundtrip trades for the day...one more trade and I reach my personal limit. [12:57] 0,4 Shorts ES @ 891.25 -> medium size  [12:57] Last trade of the day. [12:58] 0,4 Shorts ES @ 891.50  [12:58] ditto, last attempt to catch this short. [13:00] Jazz...I got 9 contracts...thus... [13:00] * Loxley sells NQ at 1099.5 for a 5 point gain. "Hit my sell stop." [13:01] I'm only looking for a minimum of +1.25 point profit on this short to be plus for the day. [13:01] I see, we might get a nice move here. [13:02] Bingo :) [13:02] * Loxley shorts NQ at 1097.50 [13:02] 0,2 exited 1/2 0,3 Short: 889 --> + 2.75 4,0 «« paper »»  [13:03] cnn screen looks like a steven sigal movie. [13:03] 0,2 exit 2/3 ES @ 888.50 --> + 2.75  [13:03] 0,2 exited 1/4 0,3 Short: 888.25 --> + 3.5 4,0 «« paper »»  [13:05] 0,2 exit 2/3 ES @ 887 --> + 4.5  [13:05] * Loxley covers short NQ 10 1093.50 for 4 poitns. [13:05] 0,2 exited remainder 0,3 Short: 887.5 --> + 4.25 4,0 «« paper »»  [13:06] Hey all...one thing I like about this room... [13:07] we know how to bounce back :) [13:07] :) [13:07] I'm just glad this is all play money. :) [13:07] in my case, that is. [13:07] we're not gonna let ES scares us. [13:07] its interesting - they announce A day will start and it goes up [13:07] then the bombs hit and it goes down [13:08] war is irrational [13:08] If Saddam survives this...I may want to learn more about his god. [13:08] :) [13:09] I thought he was an atheist, personally. [13:09] I know he follows Stalin's teachings or at least admires it greatly. [13:10] Geeessh...FOX tv looks like 4th of July. [13:10] So are they going ahead with "Shock and Awe?" [13:11] * Loxley is 90 dollars up after 18 trades (all over the map, they were...) commission fees would be eating me alive if this were for real. [13:11] Yep. [13:12] 0,6 exit stop set ES @ 891.00  [13:12] THey are talking like this Shock and Awe thing is going to be something really unique and unheard of... but we've done massive bombardments before. Unless they NUKE 'em I don't see what's so different. [13:12] I think I can get the 200eMA on the 1min all session chart for my remainder...reason why I'm still holding it. [13:13] No...Loxley...these are different types of Bombs and they are aimed at Government targets, Pipelines in Bagdad, Presidential Palace and so on... [13:14] They didn't do that in 1991 [13:14] They also plan on using some sort'uv MOTHER OF ALL BOMBS on IRAQ... [13:15] a bomb that wasn't made until a few years ago. [13:16] It's possible...they have already used it today. [13:18] Eminis don't look healthy... [13:19] if they don't retrace all of that strong uptrend before they hyping of Saddam's possible death... [13:19] I'll be very surprise. [13:21] below 886.75, clear water to 881 [13:21] Traders in other rooms are saying to Short whenever the bombs fall...cover when they stop falling. [13:23] 3 other major IRAQ cities are being bombarded. [13:23] yes, exciting. [13:24] BBC saids IRAQ no longer has the ability to fire missles at neighbor countries. [13:25] in any case, we're ready. [13:26] 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...strictly enforced. [13:26] we have new missles that can intercept their missles. [13:26] We had Patriot anti missile missiles back in 91. [13:27] its in use today too [13:27] 0,6 exit stop lowered ES @ 890.75  [13:28] 0,2 exit remainder ES @ 889.25 --> + 2.25  [13:29] * Loxley remembers a Rocky and Bullwinkle episode where Boris and Natasha were trying to steal the plans to the "Anti Anti Missile Missile Missile." [13:35] Hey, why do people sell stock when we bomb iraq? I would think that the removal of uncertainty would be seen as positive news? [13:38] Rumsfeld on TV ? [13:39] Loxley...it was positive news...that's what helped fueled that power uptrend. [13:39] Yet...like most news like this...it usually retraces at least 1/2 of the trend. [13:40] People say "What the heck did I just do?" or "buyers remorse?" [13:41] I got my stop in a good spot...lets see if it can hold so that I have a chance at my profit-target. [13:43] Bombs are falling again...but I don't see traders Shorting in other rooms. [13:43] done for the day, see you next week. [13:44] Gah... NQ just fell through the floor. [13:44] Take care Jazz and be safe. [13:44] Seeya, Jazz. [13:44] bye, Jazz [13:44] bye all [13:44] going to a Jazz concert. [13:45] Wow...Pentagon just confirmed they dropped 2 of those MOTHER OF ALL BOMBS on IRAK. [13:46] On what, I wonder? [13:47] If TV goes back to live coverage of the bombing...we should see more downside. [13:47] Surely somebody is showing it all the time, right? Or do you mean specific channels? [13:48] I got 8 different channels showing the bombings along with live TV online. [13:48] Does it look like we're wrecking the entire city? I hope not. [13:49] Sheez, Vol broke 1500 again. [13:50] Niha, which live Internet stream do you use ? URL ? [13:50] If there's momemtum through my profit-target...I will hold my position. [13:50] At profit-target right now. [13:50] May exit remaining contracts except for 1. [13:51] 0,2 exit 2/3 ES @ 886.75 --> + 4.5  [13:52] Holding only 1 contract from that original 9 contract position. [14:16] 0,6 exit stop lowered ES @ 889.00  [14:19] 0,6 exit stop lowered ES @ 886.00  [14:23] Was there a gap in volume between 1335 and 1350? I"m showing zero volume there on my chart. [14:24] PC problems here, have to go [14:24] have a nice weekend [14:24] Seeya, K. [14:25] 0,2 stop hit ES @ 886.00 --> + 5.25  [14:26] I'm done for the day :) [14:27] Congrats. :) [14:27] So, how'd you do? [14:32] U guys see all those explosions in Baghdad? Wow. [14:38] 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...strictly enforced. [14:47] Anybody else get disonnected? [14:48] Whoops [14:48] * NQChimp is now known as FutureFuturesTrader [14:51] FFT...I don't think I got disconnected. [14:51] Loxley...I finish the day ES +19.75 [14:51] But only via increasing my trade size. [14:52] on the last position to offset a few earlier trade problems. [14:52] Total of 7 roundtrip trades. [14:53] 4 winners and 3 losers [14:53] Point to point...losers were greater. [14:53] Size to size...winners were greater. [14:54] Only reason why I was profitable today. [14:55] Aircraft over Baghdad now [14:55] Man, this sure has been an amazing rally. [15:00] Nihaba: Thanks for the scorecard. I need to know what's a reasonable goal for when I trade for real... number of trades wise and points wise. [15:01] * Loxley is hoping for 5 points a day after commission... dunno how many trades, though... I hear overtrading=BAD [15:02] I've got 8 trades for a net b4 commisions of 5.5 points/contract. [15:03] That would break me even at the $12 round trip my broker currently charges real clients. [15:06] Except those are ES points :D [15:06] OH! [15:07] $12 is kinda high, you might want to consider Interactive Brokers. [15:07] $4.80 [15:07] Where is teh ES traded? I had to pay extra to Lycos LiveCharts to get the CME. [15:07] Globex and CME [15:07] Most of us pretty much use Globex [15:07] I think [15:08] I've noticed most of y'all trade the ES, except for me and Quasar. [15:08] Man the market is an amazing thing. Who would thunk just a few days ago when we were sub 800 that we'd be closing in on 900 so soon? [15:10] ES is more liquid than NQ. That does *not* mean that one cannot make money trading NQ, as Q can support. [15:12] Loxley...I'm a bad example to use for a "reasonable goal". [15:13] If your going to be trading 1-3 contracts...then you should base your goals on traders that are trading 1-3 contracts. [15:13] * HPete_away is now known as HPete [15:14] * Loxley notes that Nihaba is sqarely in the "don't try to emulate the experts till you know what you're doing" category. :) [15:19] * Loxley finds the possibility of being a member of the "working poor" yet trading contracts technically worth tens or hundreds of thousands of dollars to be a bit... jarring. "Why should a brokerage let a guy like me trade futures contracts? Aren't they afraid of me losing their money? Or is it nigh unto impossible to screw up much worse than the amount in your leveraged brokerage account?" [15:23] have a good weekend everyone - cya all next week [15:24] Cya on Monday, HPete [15:25] bye [15:29] You know, every day I promise myself that I will trade that day like it was "for real." But I don't. :/ How did y'all learn discipline? Losing too much money instill it into you? [15:39] Loxley...that's a million dollar question. [15:40] Discipline can be taught...it can be learned...but via both methods is the best solution. [15:40] howdy folks..... yawnnnnnnnnnnn [15:42] I'm thinking about learning mechanical trading... that way I won't second-guess myself. [15:45] BTW some1 got bloody rich here, today?! :-) [15:48] You, Quasar? [15:48] <-- today summary --> 4scalps 3pos/neg1 thus +3 on NQ [15:49] 5contracts.. so im up about $200 today [15:50] 25mins of trading.. :-) [15:50] 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...strictly enforced. [15:51] how u doing? Loxley [15:58] ES kicking butt. [15:58] What's wrong with the NQ? [16:02] * Loxley isn't doing so well. "Secondguessing myself, etc. I seem to have an uncanny ability to buy tops and sell bottoms." [16:04] Loxley :-))) oh yes, it sometimes happens... often it turn 180degree right the next trading day... so no real need to panic IMO [16:05] experience is what it produces... n it counts every next day [16:06] * Loxley closes out his NQ position for a 5 point gain at 1094.5 [16:06] Opened it a couple of HOURS agao. [16:06] wow!! nice Loxley! [16:07] hehe but doesnt matter at all.... +5 is very nice! imo [16:07] Feh. I'm still only 30 bucks to the good... BEFORE the highway robbery of commissions I'd be paying if this was real money. [16:08] hehe [16:09] I've been experimenting with riding the trends... longing on an up and shorting on a down... the hard part seems to be in determining if it's REALLY a trend of any consequence or not. [16:09] "Oh, MACD, why have you failed me so???" [16:10] yep, tough job :-) ... u know it takes some time to get an effort to NOT THINK ABOUT WHAT U DOING :-))) [16:10] I bet it's harder when it's real money you risk losing or risk actually making. [16:10] man IMO all those Indicators are definitely LAGGING so one has to use it very carefully [16:11] How far do they lag? [16:12] sure, much more harder with real $$$... or better > different a lot... cause one's psychic works diff way in compare with paper-trades [16:12] * Loxley watches the chart with the MACD, Moving Average, and Volume all displayed. "Still doesn't do me a lot of good." [16:13] What are you watching for? [16:13] Loxley...work backwards... [16:13] IMO no matter "how far"... they simply lag... so they simply cant tell the future "for sure" [16:13] They all Lag...its how you react to the lag...that's the key. [16:13] I watch for the MACD and the MOving Average to cross... [16:14] Even volume lags :) [16:14] :-) [16:15] To cross the trend line, that is. And I eyeball the volume, which is either a red or green or brown line. Having not read up on what they really mean yet, I'm sort of drawing my own conclusions for now till I can do more research. [16:16] Nihaba is right... one has to develop HIS REACTIONS n DECISIONS upon indicators... it say almost nothing itself... one has to find his "trading info" inside od its behaviour IMO [16:17] oh yes Loxley u doing right IMO plus that Nihaba's "work backwards..." [16:18] Loxley...what I meant via saying Work Backwards is this... [16:18] review and keep reviewing all your winning trades and losing trades... [16:19] see if you see a pattern in how you trade... [16:19] There will be a pattern...you just have to discover it. [16:19] If not...then your simply flipping a coin. [16:19] Our subconscious is incredible... [16:19] * Loxley nods. "I'll start next week keeping a decent log of the time, amount, and reason for the trade." [16:20] you are taking trade positions for specific reasons known to you of for subconscious reasons unknown to you. [16:20] Here's a scary fact about traders that lose... [16:21] pyschologists estimate that 37% of losing traders... [16:21] never wanted to succeeed in the first place. [16:21] And they didn't even know it. [16:21] Why would they not want to succeed? [16:22] hehe [16:22] Fear of change that having a gozillion dollars would bring? [16:22] Many reasons...fear, lack of confidence...all kinds of psychce mumbo jumbo. [16:22] Cuz, really, I think I could cope with it. I mean, it would be hard, but I would somehow struggle with the knowledge that I could actually now afford a new car or a house for Mom or something. [16:23] Have you ever gotten frustrated and took a trade via saying the following... [16:24] "I'm already down big for the day...making another trade wont make a difference" [16:25] I know a lot of traders that come unglued after 2-3 consecutive losses in a trading day... [16:25] especially if those are their first 2-3 trades of the day. [16:25] Tough psychological battle from that point on. [16:26] Well, yeah, I've said that, with the stipulation that it's just a paper trade, so it doesn't really matter... but I recognize it's not a good habit at all. [16:26] I also won't have the bankroll to "double or nothing" or martingale... so loss management is going to be part of my strategy. [16:26] for me if my first couple trades are losers I have to be extra careful [16:27] I take extra precautions at that point [16:27] there is a statistic saying > majority of traders get depressed right after 3 losses in a row [16:29] Quasar...I treat trading like a sporting event. [16:30] I may be scored against...but the match isn't over until the clock saids zero. [16:30] Or...until the Fat Lady Sings. [16:31] I asked a question earlier, but I think y'all were busy. Is there a way to use the Time and Sales data in a way similar to counting cards in blackjack? I mean, if you know how many contracts were bought and sold at a given price, you'd know what cards the other folks at the table were holding... to mix my blackjack and poker metaphors. [16:32] Or is that sort of information somehow incorporated into candlesticks or other indicators? [16:33] Loxley...for now...I highly recommend you leave T&S or Market Depty alone. [16:33] Nihaba :-)))))))) [16:33] Your too new to trading to be messing with that. [16:33] :) [16:33] Most veteran successful traders don't even use it. [16:34] Many new traders try using it :) [16:34] With predictable results? :) [16:34] As in, BAD. [16:37] I need to try and find an offline simulator, methinks. Where I can crank up the speed a bit and practice guessing my entries and exits. [16:37] <-- watching MarketDepth just when in da trade [16:37] So I can trade an entire day in a couple of hours. [16:39] Loxley...I have the answer for you... [16:39] * Loxley could prolly write it in VB, actually. "I'm not a bad programmer. Hard part would prolly be finding free historical data for more than a week back." [16:40] The best trading tool for studying the market from tick to tick is via recording your every movement on your computer... [16:40] http://www.techsmith.com/products/studio/default.asp [16:40] * Loxley fires up another web browser and looks. [16:40] Its called Camtasia Studio...it has a free 30 day trial. [16:41] Works better than Lotus Screencam. [16:41] Note: You need a large harddrive if you plan on storing more than several months of daily trading action from start to finish. [16:42] You can see how long you hesitate after receiving a signal... [16:43] I used it once to measure my hesitation in one weeks worth of data... [16:43] In that particular week...first week of last November... [16:43] What did you find out? [16:43] It took me about 5.6 seconds to execute a trade after getting a trade signal. [16:44] When I go over 10 seconds...it usually results in a losing trade or tick for profits. [16:45] What do you mean by "tick for profits?" [16:45] * Loxley understands "losing trade" well enough. :) [16:45] +0.25, +0.50 and so on... [16:45] instead of +1.00 or +3.50 [16:45] Points versus ticks (less than 1 point). [16:46] Ah. Gotcha. [16:46] Nothing worst than getting a poor entry because of hesitation to only get a +0.50 profit when a I could have gotten +1.50 had I enter quickly after receiving the trade signal. [16:47] It happens to me enough where I've been very aggressive than usual in entering a trade as soon as it signals for an entry. [16:47] I've been working on this since November of last year. [17:02] 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...strictly enforced. [17:26] * szubaark is now known as szubaark_AWAY [17:29] Take care all...I'm outta here...have a nice weekend and be safe. [17:29] Remember...those in the U.S. are on High Terrorist Alerts... [17:29] Thus...shoot first and ask questions later :) [17:30] Have a good one. [17:30] * Disconnected Session Close: Fri Mar 21 17:30:02 2003