##TheStrategyLab Price Action Chat Room Logs

Note: The chat log below represents the free chat room called #FuturesTrades that's hosted by TheStrategyLab.com and any one can use the chat room to post their trades. Simply, we do not know what trading methods are being used by some members while others are using methods we ourselves don't use.

Our primary job in the chat room is to moderate the room (keep the peace) and to ensure it's a spam free chat room. More information about #FuturesTrades @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm

In contrast, our fee-base clients are discussing market analysis or trade signals via concepts from our strategies in the private chat rooms called #VolatilityTradingTSL or #SwingTradingTSL.

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Session Start: Thu May 28 09:38:18 2009
Session Ident: #futurestrades
[09:38] * Now talking in #futurestrades
[09:38] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:39] <@NihabaAshi> Good morning all...just spent a few minutes setting up Awash return to #FuturesTrades...a prior long time member.
[09:39] <kosmipt> welcome back
[09:40] <@NihabaAshi> He should be logging in soon...hopefully
[09:40] <+kosmipt> Shorts ES @ 900.50 «« simulator »»
[09:40] <@NihabaAshi> FYI - I'm not expecting a range day today.
[09:41] <@NihabaAshi> Hopefully we can get a few strong price actions in the a.m. trading session or better via the start of a trend day.
[09:41] <pat255> all
[09:41] <+pat255> y i remeber him ..N
[09:41] <@NihabaAshi> Most likely just a few strong price actions and that'll be it for the day
[09:41] <@X> #FuturesTrades Info -> No s, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm
[09:42] <TraderG> 10:00am USD New Home Sales
[09:42] <+kosmipt> Covered all ES Short @ 900 --> + 0.5 «« simulator »»
[09:43] <+TraderG> what is Amash's claim 2 fame?
[09:44] <@NihabaAshi> Original member...a overnight swing trader.
[09:44] <@NihabaAshi> Thus, he holds his positions overnight and longer.
[09:44] <@NihabaAshi> At least that was what he was the entire time when he was in here.
[09:44] <+kosmipt> Shorts ES @ 899.50 «« simulator »»
[09:44] <+TraderG> it's like going back to high school to visit a favourite teacher
[09:45] <+kosmipt> Covered all ES Short @ 900.50 --> - 1 «« simulator »»
[09:47] <+kosmipt> Shorts ES @ 899 «« simulator »»
[09:48] <@NihabaAshi> So far...we are ranging
[09:48] <@NihabaAshi> Volatility is very low too.
[09:48] <@NihabaAshi> Too low...
[09:48] <@NihabaAshi> Therefore, I'm expecting a volatility spike here soon.
[09:49] <+kosmipt> Shorts ES @ 898.75 -> Add «« simulator »»
[09:50] <+kosmipt> Covered 1/2 ES Short @ 899.75 --> - 1 «« simulator »»
[09:50] <+kosmipt> Covered Remainder ES Short @ 900 --> - 1 «« simulator »»
[09:51] <+kosmipt> chop before the report
[09:52] <+TraderG> Chop Before The Pop. has a nice ring 2 it.
[09:53] <+TraderG> i think i'll register a trade mark on this as well
[09:53] <@NihabaAshi> Long ES @ 899.25 -> large size
[09:53] <@NihabaAshi> 6 only
[09:53] <@NihabaAshi> that's actually an add 4 + 2
[09:54] <Nesi> exit stop set ES @ 900.75 «« simulator »»
[09:54] <jbuch1> uyg has gone below the mornings range
[09:54] <@NihabaAshi> tighten stop
[09:55] <@NihabaAshi> too close to the report release to have a loose stop
[09:56] <@NihabaAshi> Exited all ES Long @ 898.25 --> - 1
[09:57] <@NihabaAshi> Shorts ES @ 897.75 -> large size
[09:57] <@NihabaAshi> 6 only
[09:57] <@NihabaAshi> tighten stop again
[09:58] <@NihabaAshi> volatility rising
[09:59] <@NihabaAshi> tighten more
[09:59] <+jbuch1> Long SPY @ 90.21
[10:00] <+TraderG>
[10:01] <+TraderG> [10:00:37] <iNews> 10:00ET U.S. APRIL NEW-HOME SALES UP 0.3% TO 352,000 PACE [MKW]
[10:01] <+jbuch1> Exited all SPY Long @ 90.14 --> - 0.07
[10:01] <+TraderG> 364K expected
[10:01] <@NihabaAshi> Covered 1/2 ES Short @ 894.25 --> + 3.5
[10:01] <+pat255> vvn
[10:01] <@NihabaAshi> trail @ profit
[10:01] <+kosmipt> Long ES @ 894.75 «« simulator »»
[10:01] <fcb98292> Long ES 894
[10:01] <+fcb98292> Tgt 895
[10:02] <+fcb98292> flat
[10:02] <@NihabaAshi> hopefully it doesn't bounce hard back upwards with this volatility and pick pocket my trailing stop
[10:02] <+kosmipt> Exited all ES Long @ 893.50 --> - 1.25 «« simulator »»
[10:02] <+kosmipt> Shorts ES @ 893 «« simulator »»
[10:03] <+Nesi> vn trade, wrbtrader
[10:03] <+kosmipt> gap is filled
[10:03] <@NihabaAshi> Covered ES Short @ 893.00 --> + 4.75
[10:03] <@NihabaAshi> Holding 2 contract remainders
[10:04] <+kosmipt> Shorts ES @ 892.50 -> Add «« simulator »»
[10:04] <@NihabaAshi> That's the first big strong price movement of the day...
[10:04] <@NihabaAshi> I'm expecting at least one more sometime today.
[10:05] <+kosmipt> looking for a follow thru
[10:05] <@NihabaAshi> 892 - 891 is a weak support area...good place to "try" a counter-thrust back upwards
[10:06] <+Nesi> thx
[10:06] <+kosmipt> 890.50 is low of yesterday
[10:07] <@NihabaAshi> Covered ES Short @ 890.75 --> + 7
[10:07] <@NihabaAshi> Holding 1 contract remainder
[10:07] <+kosmipt> Covered 1/2 ES Short @ 890.25 --> + 2.25 «« simulator »»
[10:07] <+kosmipt> nice
[10:07] <werner> vn indd
[10:08] <+kosmipt> 884 is S1, will try to hold till there
[10:08] <@NihabaAshi> We're now at another weak support level...
[10:09] <@NihabaAshi> Lets see if it can try to counter-thrust back upwards.
[10:09] <+werner> yep
[10:09] <@NihabaAshi> tightening my trail more
[10:09] <+Nesi> Covered all ES Short @ 890.00 --> + 29.5 «« simulator »»
[10:10] <+kosmipt> we bounced off overnight's lows
[10:10] <+Nesi> that was sweet
[10:10] <+jbuch1> awesome nesi
[10:10] <+kosmipt> nice
[10:10] <+Nesi> thx
[10:10] <+Nesi> my plan was to hold it all day :/
[10:11] <+jbuch1> a days work in a half hour
[10:11] <+Nesi> Long ES @ 887.75 «« simulator »»
[10:11] <+Nesi> 2c
[10:11] <+Nesi> exit stop set ES @ 886.50 «« simulator »»
[10:12] <+Nesi> Exited all ES Long @ 887.00 --> - 0.75 «« simulator »»
[10:12] <+Nesi> Long ES @ 887.25 «« simulator »»
[10:12] <+Nesi> 2c
[10:13] <@NihabaAshi> Covered Remainder ES Short @ 887.50 --> + 10.25
[10:14] <+Nesi> Exited all ES Long @ 888.50 --> + 1.25 «« simulator »»
[10:14] <@NihabaAshi> got my profit early again...
[10:14] <+kosmipt> nice
[10:14] <+werner> wow
[10:15] <@NihabaAshi> As usual...will reduce my position size and try a few different things the remainder of the trading day in the form of my "trade management" after entry (a problem area for me lately via some new rules).
[10:15] <+fcb98292> oops
[10:15] <LP> wtg wrbtrader
[10:20] <+Nesi> anyone noticed how GOLD is being trade it lately?
[10:20] <+Nesi> now it seems more players are playing it with more vol
[10:20] <+Nesi> i used to see 10c bid 15 ask...but now..
[10:20] <+Nesi> is 100 bids.. 120 ask
[10:21] <+kosmipt> Shorts ES @ 889 -> Add «« simulator »»
[10:23] <drt> s es 89.25
[10:23] * codehead_afk is now known as codehead
[10:23] <+kosmipt> if you mean comex gold futures, there are still 10's not 100's
[10:25] <+Nesi> what is the gold i am watching then?
[10:25] <+Nesi> the one is trading at 957.30
[10:25] <+kosmipt> Covered 1/2 ES Short @ 888.25 --> + 0.75 «« simulator »»
[10:26] <+kosmipt> that's probably june comex gold, but i don't see 100's
[10:26] <+Nesi> yes...its june
[10:26] <+Nesi> Shorts ES @ 887.75 «« simulator »»
[10:27] <+Nesi> 2c late post
[10:27] <+Nesi> kosmipt, it jumps...like right now..is 74 119
[10:27] <+Nesi> 83 101
[10:28] <+Nesi> it has more vol now days..imo
[10:28] <+kosmipt> actually august gold has more vol now
[10:28] <+Nesi> let me roll it over
[10:31] <+Nesi> Covered all ES Short @ 889.25 --> - 1.5 «« simulator »»
[10:31] <+jbuch1> Long SPY @ 89.39
[10:33] <+drt> c s 88.50
[10:33] <+kosmipt> OIL # in 30 mins
[10:33] <+Nesi> thx
[10:35] <+kosmipt> Shorts ES @ 889.50 -> Add «« simulator »»
[10:37] <+jbuch1> Exited all SPY Long @ 89.59 --> + 0.2
[10:37] <+kosmipt> Shorts ES @ 890 -> Add «« simulator »»
[10:37] <+Nesi> gold 960, something going on today..imho
[10:38] <+Nesi> Shorts ES @ 889.75 «« simulator »»
[10:38] <+Nesi> 2c
[10:39] <+fcb98292> shORT es 890.5
[10:40] <+fcb98292> Tgt 889
[10:42] <+fcb98292> no fill at tgt, out be
[10:44] <+Nesi> GOLD breaking out
[10:44] <+Nesi> strong today
[10:44] <+Nesi> u guys see how crazy it got when took high?
[10:50] <+kosmipt> OIL as well
[10:51] <+Nesi> Shorts ES @ 892.00 -> Add «« simulator »»
[10:51] <+Nesi> 2c
[10:52] <+jbuch1> Shorts SPY @ 89.69
[10:55] <+TraderG> news in 5 min
[10:58] <+jbuch1> Covered all SPY Short @ 89.74 --> - 0.05
[10:59] <+Nesi> Shorts ES @ 894.00 -> Add «« simulator »»
[10:59] <+Nesi> 2c
[11:00] <+Nesi> wow oil
[11:01] <+TraderG> [10:00:37] <iNews> 10:00ET U.S. APRIL NEW-HOME SALES UP 0.3% TO 352,000 PACE [MKW]
[11:01] <+jbuch1> damn
[11:01] <+TraderG> -0.1M expected
[11:02] <+TraderG> US Crude Oil Stocks -5.413M Bbl In Wk; Seen -0.5M Bbl
[11:02] <+TraderG> sorry wrong quote previously
[11:02] <+Nesi> thx for info
[11:05] <+TraderG> DJ *OIL FUTURES: Crude Steady Near $65/Bbl As Oil Stocks Drop
[11:05] <+TraderG> go figure
[11:05] <+TraderG> 1 would expect them to make mre $$ now
[11:06] <+TraderG> but they drop >>>>> the charts are the only REAL thing in town
[11:06] <+TraderG> mre=more
[11:06] <@NihabaAshi> impressive retracement back upwards.
[11:07] <@NihabaAshi> If it makes a new intraday high I'll consider that as verification of the second strong price movement I was expecting today (was expecting at least two strong price movements today or possibly a big trend day).
[11:08] <@NihabaAshi> 899.00 is a key prior support area that's now resistance
[11:10] <+pat255> geez what a move up
[11:13] <+Nesi> Shorts ES @ 897.00 -> Add «« simulator »»
[11:13] <+Nesi> 2c
[11:14] <@NihabaAshi> Yeah...too tough for me to trade because the only Long signal I got would have resulted as a breakeven trade or 1 tick profit between 1035am - 1040am est
[11:14] <@NihabaAshi> Hopefully this small retracement sets up a trade signal...Long or Short
[11:15] <@NihabaAshi> Shorts ES @ 896.75 -> small size
[11:15] <@NihabaAshi> 2 only
[11:16] <@NihabaAshi> Covered all ES Short @ 897.50 --> - 0.75
[11:17] <@NihabaAshi> shook out too easy
[11:17] <@NihabaAshi> still bearish
[11:17] <@NihabaAshi> back to neutral
[11:18] <@NihabaAshi> Shorts ES @ 897.25 -> small size
[11:18] <@NihabaAshi> 2 only
[11:22] <@NihabaAshi> Covered all ES Short @ 896.25 --> + 1
[11:22] <@NihabaAshi> early exit...got spooked
[11:30] <@NihabaAshi> Resistance area is now 898.75 - 897.50
[11:30] <+jbuch1> Shorts SPY @ 90.18
[11:31] <+Nesi> gold near day high, fwiw
[11:31] <@NihabaAshi> Yeah...it's a mover today
[11:32] <@NihabaAshi> Oil has been strong too since 1030am est
[11:32] <+pat255> wonder why oil strong?
[11:32] <+Nesi> gold acting strange...yup
[11:32] <@NihabaAshi> About the same time the Eminis found some courage
[11:32] <+pat255> may be it is not for us to quetion that
[11:32] <+Nesi> well put... pat
[11:33] <+pat255> lol
[11:33] <+jbuch1> Covered all SPY Short @ 90.21 --> - 0.03
[11:34] <@NihabaAshi> Long ES @ 898.00 -> small size
[11:34] <@NihabaAshi> 1 only
[11:34] <@NihabaAshi> looking for a few ticks
[11:36] <@NihabaAshi> Exited ES Long @ 897.75 --> - 0.25
[11:38] <codehead> short 2c ES 898.25 <paper>
[11:40] <+codehead> exit half +1.25 <paper>
[11:41] <+codehead> stop remainder 898.75 <paper>
[11:41] <+codehead> should retest 895.5
[11:43] <+Nesi> 11:42ET GM PLANS JUNE 1 BANKRUPTCY FILING - BLOOMBERG [REUTERS]
[11:43] <+Nesi> post from another room..fwiw
[11:44] <@X> #FuturesTrades Info -> No s, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm
[11:45] <+kosmipt> Covered all ES Short @ 897 --> - 11 «« simulator »»
[11:46] <+kosmipt> got stuck in a short position from earlier
[11:48] <+codehead> stop hit--exit -.5 on remainder ES <paper>
[11:50] <+Nesi> Shorts ES @ 900.00 -> Add «« simulator »»
[11:50] <+Nesi> 2c
[11:53] <+Nesi> if my read is correct... i think the market is done going up today
[12:02] <werner> Shorts NQ @ 1410.00
[12:04] <+jbuch1> Shorts SPY @ 90.49
[12:05] <+werner> Covered all NQ Short @ 1407.00 --> + 3
[12:05] <+Nesi> vn
[12:06] <+werner> thnx
[12:09] <+jbuch1> Covered all SPY Short @ 90.21 --> + 0.28
[12:09] <+werner> vn jbuch
[12:09] <+Nesi> good one...jbuch
[12:11] <+jbuch1> thanks on that note i am going fishing
[12:11] <+werner> enjoy
[12:12] <+Nesi> i love fishing too.. well.. where i live there are a lot of places to go fishing
[12:12] <+Nesi> there is a marina 5 minutes from where i live.. there is a boat that goes out every 4 hours for fishing
[12:12] <+Nesi> cost 40 bucks only
[12:13] <+jbuch1> ya my wife has family there great fishing
[12:13] <+Nesi> i went once and i did not get anything... so.. i got out of the boat and bought me a big fish.. and told my wife i caught it myself ..hehe
[12:13] <+Nesi> she was so proud...
[12:14] <+jbuch1> lol
[12:14] <+Nesi> i got a king fish... for 30 bucks...fresh...lol
[12:14] <+jbuch1> good luck all
[12:14] <+Nesi> you too...thanks
[12:35] <+codehead> 894.00 is .500
[12:35] <+codehead> break that, 892 next target
[12:35] <+codehead> but longs will try to hold 894
[12:54] <+Nesi> probably 890 test soon..imho
[12:59] <+codehead> 892 hit, maybe some bounce before another push down?
[12:59] <+Nesi> feels to me the drop will come sooner than later
[13:00] <+codehead> 892 is a profit taking target for shorts
[13:01] <+Nesi> very good read....codehead
[13:01] <+codehead> i'm right once in a while--hehe
[13:01] <+Nesi> jumping now
[13:01] <+Nesi> no power
[13:02] <+codehead> 892.00 was .618 retracement
[13:03] <+codehead> 895.5 is still the line in sand
[13:03] <+codehead> bullish above, bearish below
[13:08] <+codehead> phew
[13:08] <+codehead> bond i think
[13:08] <+codehead> bond auction results
[13:10] <@NihabaAshi> Shorts ES @ 897.00 -> small size
[13:10] <@NihabaAshi> 2 only
[13:10] <@NihabaAshi> same trade as one of my recent trades
[13:10] <@NihabaAshi> Covered all ES Short @ 898.00 --> - 1
[13:11] <@NihabaAshi> similar result
[13:11] <@NihabaAshi> same trade management problem
[13:12] <@NihabaAshi> Long ES @ 898.00 -> small size
[13:12] <@NihabaAshi> 2 only
[13:13] <@NihabaAshi> Exited 1/2 ES Long @ 900.25 --> + 2.25
[13:13] <+codehead> nice
[13:15] <@NihabaAshi> news
[13:15] <@NihabaAshi> as in "breaking news"
[13:18] <@NihabaAshi> Exited Remainder ES Long @ 904.00 --> + 6
[13:18] <jigglyhippo> vn wrbtrader
[13:19] <@NihabaAshi> That's the official 2nd strong price action I was expecting for today's trading session.
[13:20] <@NihabaAshi> Lucky me I was able to trade BOTH of them and catch a large part of their movmement
[13:20] <@NihabaAshi> Yet, looks like the current one is still going
[13:20] <+jigglyhippo> yupp
[13:34] <@NihabaAshi> Wow...12% of all homeowners are behind on their mortgage or in foreclosure.
[13:35] <@NihabaAshi> http://finance.yahoo.com/news/12-pct-ar ... 70955.html
[13:36] <@NihabaAshi> Until that is fixed...we're going sideways in the market...lots of trading days like yesterday's morning trading session.
[13:50] <@X> #FuturesTrades Info -> No s, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm
[15:10] <@NihabaAshi> Shorts ES @ 904.25 -> small size
[15:11] <@NihabaAshi> geeesh it moved fast
[15:11] <@NihabaAshi> won't even bother noting it as a poor entry...just too darn fast
[15:11] <@NihabaAshi> 1 only
[15:13] <@NihabaAshi> Covered ES Short @ 904.00 --> + 0.25
[15:14] <@NihabaAshi>
[15:19] <+drt> s es 04.75
[15:25] <+drt> cs es 02.75
[15:42] <@NihabaAshi> Long ES @ 906.50 -> small size
[15:42] <@NihabaAshi>
[15:42] <@NihabaAshi> geeesh
[15:43] <@NihabaAshi> was just about to change the buy order to 905.75
[15:44] <@NihabaAshi> Exited ES Long @ 905.50 --> - 1
[15:44] <@NihabaAshi> Reverse and Enter Short ES @ 905.50
[15:44] <@NihabaAshi> still 1 contract
[15:48] <@NihabaAshi> Covered ES Short @ 905.00 --> + 0.5
[15:53] <@NihabaAshi> Shorts ES @ 905.00 -> small size
[15:53] <@NihabaAshi> 2 only
[15:54] <@NihabaAshi> Covered all ES Short @ 902.75 --> + 2.25
[15:56] <@X> #FuturesTrades Info -> No s, no head traders. Members use this room to document (trade journal) their trades and thoughts from one trade to the next trade. 2009 chat logs stored @ viewforum.php?f=20 and chat logs prior to 2009 are stored @ http://www.thestrategylab.com/ArchivedPastTrades.htm
[15:57] <@NihabaAshi> Long ES @ 904.00 -> small size
[15:57] <@NihabaAshi> 2 only
[15:57] <@NihabaAshi> intuition
[15:58] <@NihabaAshi> trail @ profit
[16:00] <@NihabaAshi> Exited all ES Long @ 904.25 --> + 0.25
[16:00] <@NihabaAshi>
[16:00] <@NihabaAshi> geeesh
[16:02] <@NihabaAshi> Long ES @ 905.50 -> small size
[16:02] <@NihabaAshi> 2 only
[16:05] <+werner> gn all
[16:05] <@NihabaAshi> clock is ticking
[16:06] <+werner> good luck
[16:07] <@NihabaAshi> tighten trail
[16:08] <@NihabaAshi> Exited all ES Long @ 904.50 --> - 1
[16:08] <@NihabaAshi> Long ES @ 905.00 -> small size
[16:08] <@NihabaAshi> 2 only
[16:11] <@NihabaAshi> volatility now dried up
[16:13] <@NihabaAshi> Exited all ES Long @ 905.00 --> 0
[16:14] <@NihabaAshi> market was being generous in letting me out at breakeven
[16:17] <@NihabaAshi> I'll be looking for at least one strong parabolic price movement tomorrow morning...
[16:18] <@NihabaAshi> If it doesn't happen...I'll call it quits early and spend some time with the family.
[16:18] <@NihabaAshi> Take care all and see all tomorrow...gotta do some website work to finish fixing some coding problem at the TSL Support Forum.
[16:18] * NihabaAshi is now known as NihabaAshi_away

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