Session Start: Thu Feb 05 09:30:39 2009
Session Ident: #FuturesTrades
[09:30] * Now talking in #FuturesTrades
[09:30] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:32] <drt>
all
[09:33] <@NihabaAshi> Good morning all
[09:33] <jbuch> morning ALL
[09:34] <@NihabaAshi> FYI - I will not be trading tomorrow although I'll log into the chat rooms to record the chat log...taking the day off with the family to go to the "Winter Carnival".
[09:37] <kosmipt1> Shorts ES @ 822.50 «« simulator »»
[09:40] <kosmipt1> Covered all ES Short @ 823.50 --> - 1 «« simulator »»
[09:43] <kosmipt1> Shorts ES @ 825 «« simulator »»
[09:43] <jbuch> It will be interesting to see if we can rally today after that jobs report
[09:47] <TraderG>
[09:48] <kosmipt1> Covered all ES Short @ 822 --> + 3 «« simulator »»
[09:48] <TraderG> toyota in Japanese
[09:51] <szubaark> Shorts ES @ 820.50 «« paper »»
[09:51] <szubaark> Covered all Short ES at 819.50 --> + 1 «« paper »»
[09:54] <kosmipt1> Shorts ES @ 820.25 «« simulator »»
[09:54] <+kosmipt1> Covered all ES Short @ 819.25 --> + 1 «« simulator »»
[09:56] <@NihabaAshi> Shorts ES @ 817.75 -> large size
[09:56] <@NihabaAshi> 6 only
[09:57] <@NihabaAshi> intuition due to late to trading
[09:58] <szubaark> 10am News coming up
[10:00] <@NihabaAshi> Covered all ES Short @ 817.75 --> 0
[10:02] <@NihabaAshi> Long ES @ 818.25 -> large size
[10:02] <@NihabaAshi> 6 only
[10:05] <@NihabaAshi> Exited all ES Long @ 819.25 --> + 1
[10:07] <@NihabaAshi> Shorts ES @ 818.50 -> large size
[10:07] <jbuch> Shorts ES @ 818
[10:07] <@NihabaAshi> 6 only
[10:08] <@NihabaAshi> Covered all ES Short @ 819.25 --> - 0.75
[10:08] <+jbuch> Covered all ES Short @ 819 --> - 1
[10:09] <+jbuch> Shorts ES @ 818.5
[10:09] <@NihabaAshi> Shorts ES @ 818.25 -> large size
[10:09] <@NihabaAshi> 6 only
[10:10] <@NihabaAshi> 1.5 point noise range
[10:11] <@NihabaAshi> Covered all ES Short @ 819.50 --> - 1.25
[10:13] <@NihabaAshi> Shorts ES @ 819.25 -> large size
[10:13] <@NihabaAshi> Covered all ES Short @ 819.75 --> - 0.5
[10:14] <@NihabaAshi> Long ES @ 820.00 -> large size
[10:14] <+szubaark> Buys ES @ 820.50 «« paper »»
[10:14] <@NihabaAshi> 6 only
[10:14] <+kosmipt1> Shorts ES @ 820.50 «« simulator »»
[10:14] <+jbuch> Covered all ES Short @ 820.25 --> - 1.75
[10:15] <@NihabaAshi> Exited all ES Long @ 820.50 --> + 0.5
[10:16] <+kosmipt1> Covered all ES Short @ 820.25 --> + 0.25 «« simulator »»
[10:16] <winmax60> good morning wrbtrader and everyone in the room...!!
[10:16] <+kosmipt1>
[10:17] <+szubaark> exit stop set ES @ 818.50 «« paper »»
[10:17] <+jbuch> Long ES @ 820.5
[10:17] <+szubaark> Exited all Long ES at 821.50 --> + 1 «« paper »»
[10:18] <+kosmipt1> wow, NQ is completely different than ES today
[10:18] <+jbuch> Exited all ES Long @ 822.5 --> + 2
[10:19] <+kosmipt1> i think i'm done for the morning here
[10:20] <+szubaark> yea im becoming extremely selective now that ive had 2 winners in a row. Its easy to go Negative QUICK
[10:21] <+kosmipt1> nasdaq closed its gap
[10:22] * codehead_afk is now known as codehead
[10:22] <@NihabaAshi> Long ES @ 822.50 -> large size
[10:22] <@NihabaAshi> 6 only
[10:23] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @
viewforum.php?f=20[10:23] <+jbuch> Shorts ES @ 821.75
[10:23] <@NihabaAshi> weird fill...most likely due to a data stall.
[10:23] <@NihabaAshi> Had a problem with such prior to the open.
[10:24] <+jbuch> Covered all ES Short @ 821.5 --> + 0.25
[10:24] <@NihabaAshi> Exited ES Long @ 821.75 --> - 0.75
[10:24] <@NihabaAshi> Reverse and Enter Short ES @ 821.75
[10:27] <+jbuch> Shorts ES @ 821.5
[10:27] <pdays> Shorts TF @ 445.7
[10:28] <+pdays> Covered all TF Short @ 445.4 --> + 0.3
[10:29] <+jbuch> Covered all ES Short @ 820 --> + 1.5
[10:30] <+jbuch> Shorts ES @ 820
[10:32] <+jbuch> Covered all ES Short @ 819.25 --> + 0.75
[10:33] <@NihabaAshi> Covered all ES Short @ 820.75 --> + 1
[10:35] <+jbuch> Long ES @ 823.25
[10:35] <+szubaark> [09:43] <jbuch> It will be interesting to see if we can rally today after that jobs report
[10:35] <+szubaark> probobly new weekly highs
[10:35] <+jbuch> Exited all ES Long @ 823.75 --> + 0.5
[10:37] <+jbuch> do you mean to justify a rally or you would anticipate that it would get to there before stalling
[10:38] <+szubaark> there is a saying dont trade the news,trade what u see
[10:39] <+jbuch> A wise saying but a rally on bad news has sign
[10:39] <+winmax60> Long YM @ 1218.50 -> small size «« simulator »»
[10:39] <+jbuch> oops more significance IMHO
[10:40] <+winmax60> Exited all YM Long @ 1219.75 --> + 1.25 «« simulator »»
[10:47] <+szubaark> 830 is that Chop area from yersturday
[10:48] <@NihabaAshi> Long ES @ 829.00 -> small size
[10:48] <@NihabaAshi> 3 only
[10:49] <+jbuch> YA that area has been pivotal for a while
[10:51] <@NihabaAshi> Exited ES Long @ 828.25 --> - 0.75
[10:51] <@NihabaAshi> Reverse and Enter Short ES @ 828.25
[10:52] <+jbuch> Long ES @ 829
[10:52] <@NihabaAshi> Covered ES Short @ 829.00 --> - 0.75
[10:52] <@NihabaAshi> Reverse and Enter Long ES @ 829.00
[10:54] <+jbuch> Exited all ES Long @ 832 --> + 3
[10:54] <@NihabaAshi> Exited all ES Long @ 832.00 --> + 3
[10:54] <rickf>
[10:55] <+jbuch> I have been watching the 830.5 to 834 zone for about a month now
[10:56] <+jbuch> morning rickf
[10:56] <+rickf> hiya
[10:57] <+jbuch> blew right thru it
[11:01] <+jbuch> Shorts ES @ 833
[11:01] <+szubaark> so much for S/R..Sometimes it Works, sometimes it doesnt
[11:02] <+jbuch> Covered all ES Short @ 833.75 --> - 0.75
[11:03] <+jbuch> Long ES @ 834
[11:03] <+jbuch> Exited all ES Long @ 835 --> + 1
[11:04] <+szubaark> amazing, almost +20 non-Stop move on ES with no retrace
[11:06] <+rickf> short es 835.50
[11:07] <+szubaark> 840-841 HUGE Resistance
[11:07] <+winmax60> Shorts YM @ 1231.25 -> small size «« simulator »»
[11:08] <+winmax60> Covered all YM Short @ 1230.50 --> + 0.75 «« simulator »»
[11:08] <+rickf> out 834 +1.5
[11:11] <+jbuch> Shorts ES @ 835.75
[11:12] <+rickf> short es 834.50
[11:13] <+jbuch> Covered all ES Short @ 834.75 --> + 1
[11:14] <+jbuch> Shorts ES @ 834
[11:15] <+jbuch> Covered all ES Short @ 833.75 --> + 0.25
[11:16] <+rickf> out 34.50 b/e
[11:17] <+jbuch> Shorts ES @ 834
[11:17] <+rickf> short 33.50
[11:18] <+jbuch> Covered all ES Short @ 833.5 --> + 0.5
[11:22] <+jbuch> Long ES @ 834
[11:23] <+jbuch> Exited all ES Long @ 833.75 --> - 0.25
[11:24] <+jbuch> Long ES @ 834.5
[11:25] <+jbuch> Exited all ES Long @ 834.75 --> + 0.25
[11:26] <+rickf> out 35 -1.5
[11:28] <+rickf> short es 835
[11:30] <+winmax60> Shorts YM @ 1228.5 -> small size «« simulator »»
[11:31] <+rickf> out 34.75 +.25
[11:31] <+winmax60> Covered all YM Short @ 1230.25 --> - 1.75 «« simulator »»
[11:32] <+jbuch> Shorts ES @ 835
[11:33] <+jbuch> Covered all ES Short @ 835.75 --> - 0.75
[11:35] <szubaark> i keep getting disconnected from IRC everyday
[11:35] <+szubaark> Buys ES @ 838.25 «« paper »»
[11:36] <+rickf> short es 837.75
[11:36] <+jbuch> Shorts ES @ 836.75
[11:37] <+szubaark> Exited all Long ES at 836.25 --> - 2 «« paper »»
[11:37] <+szubaark> Shorts ES @ 836.25 «« paper »»
[11:37] <+rickf> out 36.50 +1.25
[11:37] <+jbuch> Covered all ES Short @ 836.75 --> 0
[11:38] <+rickf> hrm decent luck trying some counter-trend trades - only 1 ct right now
[11:40] <+szubaark> looks like a fakeout
[11:40] <+jbuch> Shorts ES @ 836
[11:41] <+jbuch> Covered all ES Short @ 835.75 --> + 0.25
[11:42] <+jbuch> I am protecting profits and not willing to take any risks
[11:43] <+jbuch> Shorts ES @ 835
[11:43] <+rickf> good idea
[11:45] <+jbuch> Covered all ES Short @ 834.75 --> + 0.25
[11:46] <+szubaark> exit stop moved to breakeven ES @ 836.25 «« paper »»
[11:47] <+winmax60> Long NQ @ 1231.75 -> small size «« simulator »»
[11:47] <+szubaark> Covered all Short ES at 836.25 --> 0 «« paper »»
[11:48] <+szubaark> sneaky bugger
[11:49] <+winmax60> Exited all NQ Long @ 1231 --> - 0.75 «« simulator »»
[11:50] <+szubaark> Buys ES @ 837 «« paper »»
[11:50] <@NihabaAshi> Long ES @ 836.50 -> small size
[11:50] <@NihabaAshi> 3 only
[11:50] <+szubaark> 840 would be my Target
[11:51] <+jbuch> breakfast time BBL
[11:51] <+rickf> prolly good
[11:51] <@NihabaAshi> Exited all ES Long @ 837.25 --> + 0.75
[11:53] <+szubaark>
((
[11:53] <+szubaark> Exited all Long ES at 835.50 --> - 1.5 «« paper »»
[11:53] <+rickf>
[11:53] <+szubaark> 2nd frikin fakeout here
[11:53] <+rickf> was a gamble going into resistance
[11:53] <+szubaark> Shorts ES @ 835.50 «« paper »»
[11:54] <+szubaark> yea but going with trend sucker still wants to chop
[11:54] <+szubaark> tough to keep Profits in this tough environment
(
[11:56] <+szubaark> Covered all Short ES at 837.50 --> - 2 «« paper »»
[11:56] <+szubaark>
((
[11:56] <+szubaark> Buys ES @ 837.50 «« paper »»
[12:00] <Sidhartha> Shorts ES @ 840 «« simulator »»
[12:01] <@NihabaAshi> wow
[12:01] <+szubaark> Exited all Long ES at 842.50 --> + 5 «« paper »»
[12:01] <+szubaark> 3rd Mouse gets the cheezzz
[12:02] * szubaark is now known as szubaark_away
[12:04] <+rickf> vn
[12:05] <+winmax60> Long NQ @ 1239.25 -> small size «« simulator »»
[12:06] <+winmax60> Exited all NQ Long @ 1239.75 --> + 0.5 «« simulator »»
[12:08] <+Sidhartha> Covered all ES Short @ 845 --> - 5 «« simulator »»
[12:16] <+jbuch> Shorts ES @ 845.25
[12:18] <+jbuch> Covered all ES Short @ 843.5 --> + 1.75
[12:19] <+jbuch> Shorts ES @ 843.75
[12:21] <+jbuch> Covered all ES Short @ 843.5 --> + 0.25
[12:28] <+winmax60> Shorts NQ @ 1242.5 -> small size «« simulator »»
[12:29] <+winmax60> Covered all NQ Short @ 1240.75 --> + 1.75 «« simulator »»
[12:29] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @
viewforum.php?f=20[12:45] <+codehead> ES bounce at exctly .500
[12:45] <+codehead> 832->847.75, bounce at 840.25
[12:50] <+winmax60> Shorts NQ @ 1236.5 -> small size «« simulator »»
[12:53] <+winmax60> Covered all NQ Short @ 1234.5 --> + 2 «« simulator »»
[13:10] <+winmax60> Long NQ @ 1238.25 -> small size «« simulator »»
[13:10] <+winmax60> Exited all NQ Long @ 1240.25 --> + 2 «« simulator »»
[13:25] <+rickf> long 839.75
[13:25] <+rickf> 1 ct
[13:29] * szubaark_away is now known as szubaark
[13:29] <+szubaark> tricky area
[13:30] <+rickf> out 49 +.25
[13:30] <+rickf> er out 40
[13:37] <+winmax60> Shorts NQ @ 1235 -> small size «« simulator »»
[13:38] <+winmax60> Covered all NQ Short @ 1237.25 --> - 2.25 «« simulator »»
[13:40] <+jbuch> Shorts ES @ 84.39
[13:44] <+szubaark> Volatility Increasing to upside
[13:46] <+jbuch> Covered all ES Short @ 841 --> - 756.61
[13:48] <+jbuch> had some distractions right when I put on that trade entry 839.75 exit 841
[13:49] <+szubaark> Buys ES @ 843.25 «« paper »»
[13:49] <+jbuch> Long ES @ 843.75
[13:49] <+szubaark> Buys ES @ 843.75 «« paper »»
[13:49] <+codehead> short 743.75 2c ES <paper>
[13:49] <+codehead> 843.75
[13:51] <+szubaark> Volatility flatlined as soon as i entered
[13:51] <@NihabaAshi> Shorts ES @ 843.25 -> small size
[13:51] <@NihabaAshi> 2 only
[13:52] <+jbuch> Exited all ES Long @ 843 --> - 0.75
[13:52] <+szubaark> Exited all Long ES at 842.50 --> - 1.25 «« paper »»
[13:52] <+szubaark> Shorts ES @ 842.25 «« paper »»
[13:52] <@NihabaAshi> Covered all ES Short @ 842.00 --> + 1.25
[13:52] <+codehead> exit 1c ES +2.00<paper>
[13:53] <+codehead> stop on reminder 844.25 <paper>
[13:53] <+jbuch> Long ES @ 842.75
[13:54] <+szubaark> tricky Range again
[13:55] <+jbuch> Exited all ES Long @ 842.75 --> 0
[13:55] <+codehead> exit remainder +1.00 <paper>
[13:56] <+szubaark> Covered all Short ES at 842.50 --> - 0.25 «« paper »»
[13:56] <+szubaark> this low Volatility scared me
[13:56] <+jbuch> same here but its gonna pop
[13:57] <+szubaark> yes, i just dont want to be on the WRONG side of the Pop
[13:57] <+jbuch> one way or the other
[14:01] <+jbuch> Long ES @ 841.5
[14:02] <+szubaark> nice
[14:03] <+jbuch> Exited all ES Long @ 844 --> + 2.5
[14:04] <+jbuch> thought it would explode up above 844
[14:04] <+szubaark> Volatility has been too low for that last few weeks
[14:05] <+jbuch> Long ES @ 844.75
[14:05] <+szubaark> Buys ES @ 844.75 «« paper »»
[14:06] <+jbuch> Exited all ES Long @ 845 --> + 0.25
[14:07] <+szubaark> damn no firepower in this thing
[14:10] <+szubaark> Tightening Stop
[14:11] <+szubaark> teasing my Stop lol
[14:11] <+jbuch> Shorts ES @ 843.75
[14:12] <+szubaark> Exited all Long ES at 843.75 --> - 1 «« paper »»
[14:12] <+szubaark> Brutal fakeouts
[14:13] <+jbuch> Covered all ES Short @ 842.75 --> + 1
[14:13] <+rickf> lots of loooong wicks on the 512t candles
[14:14] <+szubaark> same crap as yersturday after 2
[14:14] <+rickf> moving to 688t
[14:17] <+jbuch> Shorts ES @ 843.25
[14:17] <+szubaark> Shorts ES @ 842.25 «« paper »»
[14:18] <+jbuch> Covered all ES Short @ 841.75 --> + 1.5
[14:18] <+szubaark> hopefully i wont get chopped up too bad here
[14:18] <drt> l ym 23
[14:19] <+szubaark> Covered all Short ES at 843.75 --> - 1.5 «« paper »»
[14:19] <+szubaark>
(((((
[14:19] <+szubaark> Buys ES @ 843.75 «« paper »»
[14:20] <+jbuch> it will take a couple of tries to get thru 841.5
[14:21] <+szubaark> yup No Volatility in this thing
[14:23] <+drt> stp l ym 22
[14:26] <+jbuch> Shorts ES @ 845.25
[14:26] <+drt> cl ym 45
[14:26] <+szubaark> wow..what a fakeout
[14:27] <+kosmipt1> Long ES @ 846 «« simulator »»
[14:27] <+szubaark> needs to bust thru this time or we tanking OR CHOP end of day
[14:27] <+jbuch> Covered all ES Short @ 846.25 --> - 1
[14:28] <+jbuch> oops that was a long
[14:29] <+szubaark> exit stop set ES @ 845 «« paper »»
[14:29] <+jbuch> Long ES @ 846.25
[14:29] <+jbuch> come on run
[14:30] <+szubaark> yea no kidding
[14:30] <+kosmipt1> Exited all ES Long @ 848 --> + 2 «« simulator »»
[14:30] <+jbuch> Exited all ES Long @ 848.25 --> + 2
[14:32] <+jbuch> all right trading one contract SUCKS. need to fix my equities account BBL.
[14:32] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @
viewforum.php?f=20[14:32] <+rickf>
[14:32] <+kosmipt1> i'm gonna trade SPY in cash in a couple of weeks
[14:33] <+kosmipt1> i hope it acts the same as ES
[14:33] <+szubaark> Exited all Long ES at 845 --> + 1.25 «« paper »»
[14:34] <+jbuch> pretty close it takes getting used to pennies as opposed to ticks though S/R is not so clearly defined
[14:35] <+rickf> gotta move a fair # of shares though
[14:35] <+rickf> to get a decent return?
[14:36] <+kosmipt1> i will start with 100-200 shares
[14:36] <+jbuch> basically 5oo shares of spy is = to 1 ES contract and ten cents = 1 point
[14:36] <+kosmipt1> yup
[14:36] <+kosmipt1> 2 SSO = 1 SPY
[14:37] <+kosmipt1> may trade those as well
[14:37] <+rickf> gotcha
[14:37] <+jbuch> It is more cost efficient to use ES but I like to use four contracts and am uncomfertable using more than 1 or 2 ES contracts
[14:38] <+kosmipt1> the only problem i got so used to futures platforms, they place targets and stops for you and so on
[14:38] <+kosmipt1> much more intuitive than most stock trading platfroms
[14:39] <+jbuch> ya I used to do that Kos that is the most cost effective as far as commisions go but then you need to look at two screens and two entry columns
[14:40] <+jbuch> do that as in trade sso sds uyg and skf
[14:41] <+kosmipt1> i'd stay with futures but i just don't have the proper capital
[14:41] <+jbuch> I am just tig of a wimp
[14:41] <+szubaark> Shorts ES @ 845.75 «« paper »»
[14:41] <+kosmipt1> so basically i don't have much choice right now
[14:41] <+jbuch> to big
[14:45] <Flow> Hi All..Short ES @ 847.00
[14:46] <+rickf> exit 1/2 my long CDN$ future position for +.50
[14:46] <+szubaark> Covered all Short ES at 847.50 --> - 1.75 «« paper »»
[14:46] <+szubaark> Buys ES @ 847.50 «« paper »»
[14:46] <+rickf> that makes my day
[14:46] <+szubaark> tricky sucker
[14:46] <+rickf> will hold rest thru job report tomorrow
[14:48] <+szubaark>
[14:49] <+szubaark> Exited all Long ES at 844.50 --> - 3 «« paper »»
[14:49] <+szubaark>
((
[14:49] <+szubaark> Shorts ES @ 845.50 «« paper »»
[14:49] <+szubaark> in Red again
[14:49] <+szubaark> too many fakeouts
[14:50] <+rickf> patience
[14:51] <+rickf> long es 843.50
[14:52] <+Flow> Exit Short ES @ 844.00 +3.0
[14:52] <+rickf> out 944 +.50
[14:52] <+rickf> 844
[14:52] <+codehead> :-/
[14:53] <+rickf> yah
[14:53] <+codehead> had short in at 849.25 well in advance, got within a tick
[14:53] <+codehead> was being too conservative--849.25 is .618 bigger picture, and it hit 849.50 and rinced bad yesterday
[14:56] <+szubaark> Covered all Short ES at 843.75 --> + 1.75 «« paper »»
[14:57] <+szubaark> too scared its gonna bounce to breakeven
[14:58] <+szubaark> Shorts ES @ 841.25 «« paper »»
[14:59] <+rickf> last hour
[14:59] <+szubaark> we getting some Volatility
[15:02] <+kosmipt1> Long ES @ 841.75 «« simulator »»
[15:04] <+szubaark> Volatility still Increasing
[15:05] <+kosmipt1> Exited all ES Long @ 838.50 --> - 3.25 «« simulator »»
[15:07] <+kosmipt1> Long ES @ 838 «« simulator »»
[15:09] <+szubaark> Covered all Short ES at 839.75 --> + 1.5 «« paper »»
[15:11] <+szubaark> Shorts ES @ 840 «« paper »»
[15:11] <+kosmipt1> Exited all ES Long @ 840 --> + 2 «« simulator »»
[15:13] <+kosmipt1> Shorts ES @ 841 «« simulator »»
[15:16] <+drt> s ym 99
[15:17] <+szubaark> creeping up on No Volatility
(
[15:18] <+kosmipt1> Shorts ES @ 840.50 -> Add «« simulator »»
[15:19] <+drt> stp l ym 11
[15:22] <+kosmipt1> Covered all ES Short @ 842.25 --> - 3 «« simulator »»
[15:24] <+szubaark> exit stop set ES @ 843 «« paper »»
[15:24] <+szubaark> gave this enough time
[15:25] <+szubaark> Covered all Short ES at 843 --> - 3 «« paper »»
[15:25] <+jbuch> Long ES @ 843
[15:25] <+szubaark> too
[15:25] <+szubaark> sneaky bugger
[15:26] <+drt> s ym 19
[15:26] <+szubaark> Shorts ES @ 843 «« paper »»
[15:26] <+jbuch> Exited all ES Long @ 843.5 --> + 0.5
[15:27] <+kosmipt1> Covered all ES Short @ 842.75 --> - 1.75 «« simulator »»
[15:27] <+kosmipt1> oops
[15:27] <+kosmipt1> Shorts ES @ 842.75 «« simulator »»
[15:27] <+rickf> long es 843
[15:27] <+rickf> 43.25
[15:28] <+jbuch> Long ES @ 843.25
[15:28] <+szubaark> Covered all Short ES at 844.50 --> - 1.5 «« paper »»
[15:28] <+szubaark> Buys ES @ 844.50 «« paper »»
[15:28] <+szubaark> GO!!!!!!
[15:28] <+rickf> out 44.25 +1
[15:29] <+jbuch> Exited all ES Long @ 844.75 --> + 1.5
[15:30] <+kosmipt1> Covered all ES Short @ 845.25 --> - 2.5 «« simulator »»
[15:30] <+kosmipt1> done for the day here
[15:30] <+jbuch> Long ES @ 845.25
[15:30] <+kosmipt1> finished slightly positive
[15:30] <+jbuch> Exited all ES Long @ 845 --> - 0.25
[15:31] <+jbuch> that was dumb
[15:31] <+jbuch> Shorts ES @ 843.75
[15:31] <+szubaark> Ill need +10 ES Points to breakeven including commissions
((((
[15:32] <+rickf> overtrade today?
[15:32] <+szubaark> yes.. these chop ranges always get me
[15:33] <+rickf> gotta recognize and sit 'em out
[15:33] <+kosmipt1> gave back almost all morning profits in the afternoon
[15:33] <+rickf> but hell i've been caught in 'em myself
[15:33] <+jbuch> Covered all ES Short @ 842.5 --> + 1.25
[15:33] <+szubaark> thats whats keeping me from going real money is this range chop crap..I get killed in it
[15:34] <+kosmipt1> tempted to short here but i cannot let a positive day turn into a negative one
[15:34] <+jbuch> looks like you will be working the second shift szu
[15:35] <+rickf> too close to support imho
[15:36] <+szubaark> jb yea this crap is tough
[15:37] <+jbuch> chop is the account killer especially on a 5 min bar IMO
[15:37] <+rickf> is why i went to tick charts for more granularity
[15:38] <+szubaark> Exited all Long ES at 842.50 --> - 2 «« paper »»
[15:38] <+szubaark> Shorts ES @ 842.50 «« paper »»
[15:38] <+szubaark> see that..just keeps faking out all frikin day
[15:38] <+szubaark> then u add commissions and u down HUGE
[15:39] <+drt> cl ym 10
[15:39] <+jbuch> rickf do you look at Time and sales to see what the ticks are composed of
[15:39] <+rickf> not yet - i just dabble sometimes with them in my ToS platform
[15:39] <+rickf> filter and look for big blocks
[15:40] <+jbuch> same here T&S and Vol
[15:41] <+jbuch> ya I have my T&S set for 50 plus contracts
[15:41] <+drt> corr cs ym
[15:42] <+szubaark> i was ahead 3 times today but got greedy and gave it all back and some
[15:42] <+jbuch> but I look at 10 second thru 5 min charts not ticks.
[15:42] <+szubaark> Covered all Short ES at 845 --> - 2.5 «« paper »»
[15:42] <+szubaark> Buys ES @ 845 «« paper »»
[15:42] <+szubaark> GO!!!!!
[15:43] <+jbuch> nothing aginst ticks I have just always used time based
[15:44] <+szubaark> Since 12:10 this Range has been just a big trap with fakeouts (in Hindsight)
[15:46] <+szubaark> Exited all Long ES at 824.75 --> - 20.25 «« paper »»
[15:46] <+szubaark> Exited all Long ES at 842.75 --> - 2.25 «« paper »»
[15:46] <+szubaark> Shorts ES @ 842.75 «« paper »»
[15:47] <+rickf> its personal preference - min charts are too vague for me
[15:47] <+rickf> whatever works
[15:48] <+szubaark> damn.. big losing day today.. took too many Stops in CHOPPPPPPP
[15:49] <+jbuch> I read about an interesting concept last week bars that are composed of the number of contracts exchanged for ex a 500 contract bar
[15:50] <+jbuch> Shorts ES @ 843
[15:50] <+szubaark> watch it pop back UP again LOOOL
[15:51] <+jbuch> Covered all ES Short @ 843.5 --> - 0.5
[15:51] <+jbuch> Shorts ES @ 842.25
[15:51] <+szubaark> c'mon SPIKE to 830
[15:52] <+jbuch> Covered all ES Short @ 842 --> + 0.25
[15:52] <+rickf> sounds like a take on constant range bars using volume
[15:52] <+jbuch> exactly
[15:53] <+szubaark> Covered all Short ES at 843.50 --> - 0.75 «« paper »»
[15:53] <+szubaark> im done..getting headache from watching this Crap
[15:55] <+szubaark> each signal THIS WEEK i got turned into CHOP and Stop...LAST WEEK they were +1 Winners right away..Go Figure
[15:56] <+jbuch> szu do you have any guidelines to try and help you to try and identify chop
[15:56] <+szubaark> Chop is hard to predict.. i usually see it after 5-10 Stoputs
[15:56] <+jbuch>
[15:57] <+szubaark> like i just ate 5 Stops here 840-845 so YEA TTS CHOP AREA and im down -10 Points to figure it out
[15:58] <+szubaark> also, how do you know if it wont break this time for +10 Points? thats what makes this crap so HARD
[15:58] <+rickf> wait for it to break s/r before entering?
[15:58] <+szubaark> i did on some trades but it was Failure every time
[15:59] <+jbuch> just talking here I have the same problems with chop as everyone else.
[15:59] <+szubaark> it broke, then pulled back to entry making sure Stop gets Popped
[15:59] <+szubaark> CHOP KILLS
[15:59] <+jbuch> but a smaller time frame seems to help define S/R better
[16:00] <+szubaark> smaller timeframe will also cause Overtrading and MORE FALSE signals
[16:00] <+jbuch> and overlapping bars with opposing tails are a good hint
[16:01] <+szubaark> there is no easy answer to any of this Crap otherwise everyone would be doing it LOOOOOL
[16:04] <+szubaark> -17 ES Points today Geezzzz
[16:04] <+rickf> true - but if you're patient and dont chase candles you could do ok
[16:04] <+rickf> damn
[16:05] <+rickf>
[16:05] <+szubaark> thats why i wont touch 2 contracts on ES..
[16:05] <+jbuch> I agree rick
[16:07] <+rickf> when i began to NOT chase candles and get excited is when i got more profitable
[16:07] <+jbuch> there is no easy way but we have to take clues and set up rules and try and follow them
[16:07] <+jbuch> this will result in missed oppertunities but hopefully less carnage
[16:08] <+rickf> i'd rather miss some opportunities than rush in quickly and get hosed because i got excited
[16:08] <+rickf> painful as hell to watch things go in your favor, but if it wasnt according to plan....
[16:08] <+jbuch> just my opinion and as you know I get trapped in chop quite often
[16:08] <+rickf> there's ALWAYS another trade
[16:09] <+szubaark> with me its when i LOSE on a day i lose BIG
[16:09] <+szubaark> so my losing days are 3X or 5X bigger then my Winning days
[16:09] <+jbuch> ya you get more agro as the more it goes against you
[16:10] <+szubaark> as soon as i get my Daily Profit (2-3 ES Points) I usually Stop trading
[16:10] <+szubaark> but Ill trade all day IF i keep getting Stopped out and usually end up down HUGE
[16:11] <+jbuch> Iam the same way but in reality when are trading good we should probably become more agro
[16:11] <+rickf> just scale back the position....true
[16:11] <+jbuch> easier saaid than done like just about everything in this game
[16:12] <+szubaark> yea this crap plays tricks with your minds since it involves money
[16:12] <+jbuch> he only trades 1 contract
[16:12] <+rickf> true true
[16:12] <+jbuch> that is what i do though
[16:13] <+szubaark> trading 2 ES contracts would be suicide for me.. people say scale out and stuff NO THANK YOU.
[16:13] <+rickf> i am all in and all out
[16:14] <+jbuch> ya i think everyone should start as small as possible
[16:14] <+rickf> goal is to get to the point where i can run say 10, and dump most at X points, trail the rest
[16:14] <+rickf> that worked quite well on paper but not ready to trade that many
[16:15] <+szubaark> ok ive had enough for today
[16:15] <+jbuch> I scale but it is mainly fear based I put the trade 0 risk as soon as possible
[16:15] <+jbuch> same here cya
[16:15] <+rickf> me too
[16:15] <+rickf> cya tomorrow
[16:23] <@NihabaAshi> Reminder - I won't be trading tomorrow due to "fun activity" with my spouse and kids...going to the "Winter Carnival". However, I will have my computer logged into the chat rooms to log the chat.
[16:23] <@NihabaAshi> Take care everybody...bye
[16:24] * NihabaAshi is now known as NihabaAshi_away
Session Close: Thu Feb 05 16:27:55 2009
