##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 Jun 04 08:22:27 2009
Session Ident: #futurestrades
[08:22] * Now talking in #futurestrades
[08:22] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:14] * codehead_afk is now known as codehead
[09:29] <drt> everyone
[09:30] <rickf>
[09:30] <pat255> all
[09:30] <jbuch> all
[09:30] <fcb98292>
[09:34] <+drt> l es 33.25
[09:37] <@NihabaAshi> Long ES @ 934.25 -> medium size
[09:37] <@NihabaAshi> 4 only
[09:39] <@NihabaAshi> Reminder: sep34 is on vacation
[09:40] <@NihabaAshi> Reminder due to the fact I've received 3 emails asking where he was at.
[09:40] <+drt> cl es 34.25
[09:41] <+rickf> speakingof which did szu disappear?
[09:42] <@NihabaAshi> Exited all ES Long @ 934.75 --> + 0.5
[09:42] <@NihabaAshi> He's probably on vacation too.
[09:43] <+jbuch> Shorts SPY @ 93.99
[09:43] <+rickf> j
[09:43] <+rickf> k
[09:43] <@NihabaAshi> members usually disappear for vacation between June - September
[09:43] <+rickf> as for me i've been in-and-out trying to get my thesis wrapped up
[09:43] <+rickf> (for those wondering) lol
[09:44] <@NihabaAshi> Long ES @ 934.75 -> medium size
[09:44] <@NihabaAshi> 4 only
[09:44] <@NihabaAshi> crappy re-entry
[09:45] <+jbuch> Covered all SPY Short @ 93.84 --> + 0.15
[09:45] <+pat255> y choppy & no direction yet
[09:45] <@NihabaAshi> Exited all ES Long @ 933.50 --> - 1.25
[09:47] <+jbuch> preety small gap should fill
[09:47] <@NihabaAshi> Shorts ES @ 933.25 -> medium size
[09:47] <@NihabaAshi> 4 only
[09:48] <@NihabaAshi> intuition
[09:48] <+jbuch> shoulda held on to that short
[09:52] <+jbuch> financials still in their opening range
[09:56] <@NihabaAshi> Covered all ES Short @ 931.75 --> + 1.5
[09:57] <@NihabaAshi> should be 931.75 but the entry was a typo as usual via the 8 (9)
[09:57] <+fcb98292> Short ES 932
[09:57] <@NihabaAshi> simply, I decided to leave the exit the same typo as well.
[09:57] <+pat255> vn
[09:57] <+pat255> biased to the upside
[09:58] <+fcb98292> Exit 931.75 +.25
[09:58] <@NihabaAshi> I'm still trying to adjust to the new ergo keyboard I got
[10:00] <@X> #FuturesTrades Info -> 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. Also, do not mimic (shadow) trades of others without their permission.
[10:00] <+drt> s es 32.50
[10:03] <+drt> cs es 32.00
[10:06] <@NihabaAshi> Shorts ES @ 830.00 -> small size
[10:06] <@NihabaAshi> 3 only
[10:12] <@NihabaAshi> Covered all ES Short @ 829.25 --> + 0.75
[10:17] <TraderG> i found the holy grail of how NOT 2 lose $$$.
[10:17] <@NihabaAshi> Anybody wants to see what my new keyboard looks like...I found a Youtube video of someone using the same thing @ http://www.youtube.com/watch?v=hxH7Uith0tQ
[10:18] <+TraderG> i always wanted one of those
[10:18] <+TraderG> but thought that since I am not a touch typist I don't need it
[10:18] <+pat255> nice looking ...confusing for me tho
[10:19] <Sidhartha> Jeez you kidding wrbtrader... wow.
[10:19] <+Sidhartha> that's gonna take some getting used to...
[10:20] <@NihabaAshi> I have about 8 different keyboards (all ergo)...
[10:20] <+rickf> ouch - not sure i could use that
[10:20] <+rickf> weird
[10:20] <+rickf> but kinda cool
[10:20] <codehead> long 1c ES 929.75 <paper>
[10:20] <+rickf> (cue the star trek for wrbtrader)
[10:21] <+TraderG> 2 expensive as well
[10:21] <LP> crazy board
[10:21] <@NihabaAshi> I found out if I use a different one every few months it prevents the wrist pain and prevents me from getting CTS (carpal tunnel syndrome)
[10:21] <+TraderG> so no 1 wants 2 know what the holy grail of NOT losing money is?
[10:22] <+rickf> dont trade it away
[10:22] <+rickf>
[10:22] <+Sidhartha> yeah my trading set up already looks like captain kirk's chair... I think I'd need the outfit before I started using one of those ergo keyboards ;-)
[10:22] <+jbuch> please do trll
[10:22] <+Sidhartha> don't trade...
[10:22] <+TraderG> yes rickf. that's it
[10:22] <+TraderG> yes Sid
[10:22] <+TraderG> )
[10:22] <+rickf> you owe me $3999 for that knowledge, folks
[10:22] <@NihabaAshi> Sidhartha...I'm also shopping for a new chair...may get one of those crazy gamer chairs
[10:22] <+rickf> Sid is a copycat marketer of grail strategies
[10:22] <+rickf>
[10:23] <+codehead> exit +2.75 ES <paper>
[10:23] <+rickf> wrbtrader - so the chair can vibrate if the trade goes against you?
[10:23] <@NihabaAshi> Yeah
[10:23] <+TraderG> ju guys r soooooooooo shmart (combination of Mexican and German accent)
[10:23] <+rickf> hee
[10:23] <+Sidhartha> I can't wait until we can all get 3D charting so we can actually 'inside' our charts....
[10:24] <+TraderG> maybe it should vibrate when the trade goes in his favour as a reward )
[10:24] <+codehead> dang, wish i took that ghost for real
[10:25] <+TraderG> don't worry CH, another will come
[10:25] <+Sidhartha> financials rallying
[10:26] <@NihabaAshi> Long ES @ 933.00 -> small size
[10:26] <+rickf> short es 933
[10:26] <@NihabaAshi> 3 only
[10:27] <@NihabaAshi> hopefully rickf and I can get a profit out of the 933.00 price eventhough he's Short and I'm Long
[10:28] <+rickf> out 932.75 +.25
[10:28] <+rickf> crao
[10:29] <+rickf>
[10:29] <+rickf> fat fingered my own keyboard :9
[10:29] <+rickf> actually out 933 +0 on that
[10:29] <+rickf> time to swtich to decaf i think
[10:31] <@NihabaAshi> Exited all ES Long @ 933.25 --> + 0.25
[10:50] <+rickf> short es 935
[10:52] <+jbuch> Long SPY @ 93.94
[10:56] <Nesi> hi all
[10:57] <+TraderG> hey monster
[10:57] <+jbuch> Exited all SPY Long @ 94.19 --> + 0.25
[10:57] <+TraderG> vn
[10:58] <+jbuch> thanks
[10:59] <+rickf> short es 937 (add)
[10:59] <+jbuch> I discovered the holy grail
[11:00] <+TraderG> ???? Pleeeeeeeeeeease
[11:00] <+jbuch> I could tell u but it won't do any good
[11:00] <+TraderG> ok
[11:00] <+jbuch> it is to simple
[11:00] <+jbuch> not catchy enough
[11:01] <+jbuch> be patient with your entries and be patient with your exits
[11:02] <+TraderG> that reminds me of someone who said P&P=$. can't remember who was he
[11:02] <+jbuch> financials are just chugging along to the upside
[11:02] <+jbuch> I learned it from a wise man
[11:03] <+TraderG> I bet he does not practice what he preaches.
[11:04] <+TraderG> we have a nice channel up. Let's c if we can stay in it
[11:04] <+rickf> out 936 b/e
[11:04] <+rickf> bad entry
[11:04] <+rickf> taking a break, back later
[11:14] <+TraderG> it would b nice if we get to 944 2day
[11:14] <+jbuch> would that fill the upper gap
[11:14] <+TraderG> ;-)
[11:18] <@NihabaAshi> Long ES @ 937.00 -> small size
[11:18] <@NihabaAshi> 1 only
[11:19] <@NihabaAshi> Lower my position size because I was entering the trade late (higher risk).
[11:22] <@NihabaAshi> Exited ES Long @ 937.50 --> + 0.5
[11:22] <@NihabaAshi> be back later...just got tired of trading
[11:22] * NihabaAshi is now known as NihabaAshi_away
[11:56] <+rickf> back
[11:56] <+rickf> more awake now
[11:57] <+rickf> i hope
[11:57] <+jbuch>
[11:57] <+jbuch> I get my ass kicked if I am tired
[11:58] <+rickf> i almost did today
[12:03] <@X> #FuturesTrades Info -> 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. Also, do not mimic (shadow) trades of others without their permission.
[12:49] <+jbuch> Shorts ES @ 936.5 -> small size
[12:58] <+jbuch> Covered ES Short @ 936.5 --> 0
[12:58] <+jbuch> Reverse and Enter Long ES @ 936.5
[13:03] <+jbuch> Exited all ES Long @ 937 --> + 0.5
[13:07] <+TraderG> congrats
[13:09] <+jbuch> moving on up
[13:09] <+jbuch> an inauspicious start but
[13:09] <+Nesi> you trading ES just today...jbuch?
[13:10] <+jbuch> nope I plan on only trading it from here out
[13:11] <+jbuch> just got back from vaca and was planning on waiting until next week but am trading well so figured what the heck
[13:15] <+jbuch> be surprising if it had made it all the way back up here only to be rejected for the fourth time
[13:17] <+TraderG> it looks good
[13:18] <+rickf> welcome to the world of es
[13:18] <+rickf> c'mon in the water's fine
[13:19] <+jbuch> )
[13:19] <+TraderG> 944 still looks good
[13:52] <+TraderG> clash of the titans
[14:09] <@X> #FuturesTrades Info -> 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. Also, do not mimic (shadow) trades of others without their permission.
[14:12] <+jbuch> Shorts ES @ 941.25
[14:16] <+codehead> that is one freaking huge sell order at gap fill
[14:19] <+jbuch> Covered all ES Short @ 940.75 --> + 0.5
[14:19] <+TraderG> nice
[14:20] <+jbuch> was all excited at first
[14:20] <+jbuch> strong up move shoulda scalped 1 point
[14:26] <+codehead> short 941.25 ES <paper> 1 pt stop
[14:27] <+codehead> i've already done this twice for real, but such a nervous trader i can't post while in a trade
[14:27] <+codehead> just for 1 pt, looks like institutions holding it up till that fat order fills
[14:28] <+codehead> it's at gap fill
[14:28] <+jbuch> I like to do it takes my mind off the trade and lets it play out for a few seconds
[14:28] <+jbuch> posting that is
[14:28] <+codehead> ic
[14:29] <+codehead> i can't take my eyes off the tradign screen--lol
[14:29] <+codehead> with stocks, no problem
[14:29] <+codehead> can ignore them for days and months, when i know where my target it
[14:29] <+codehead> is
[14:30] <+codehead> stop 942.00
[14:31] <+jbuch> that is funny am the same way with my long term stuff
[14:32] <+codehead> i sold partial USO at 38 today i've had since the 20's
[14:32] <+codehead> sitll trying to learn how to relax with futs
[14:34] <+jbuch> I think that it is the keyrelaxed and focused
[14:34] <+rickf> me too
[14:34] <+jbuch> don't know why it is so hard. I always have a stop in place and never risk to much
[14:35] <+rickf> maybe because futs move more quickly and are viewed as "professional" level trading tools?
[14:35] <+rickf> most folks think 'market' and think 'stocks'
[14:35] <+codehead> exit half ES +1.00 <paper>
[14:35] <+rickf> and long only
[14:36] * NihabaAshi_away is now known as NihabaAshi
[14:36] <+jbuch> for me it is just in my brain don't want to be wrong
[14:36] <+rickf> human nature
[14:37] <@NihabaAshi> Shorts ES @ 939.50 -> small size
[14:37] <@NihabaAshi> 2 only
[14:38] <+jbuch> I swing double etf's and they have violent gaps and moves but don't really pay attention to them
[14:39] <+rickf> i have double etfs on my long only protfolio but dont swing 'em much
[14:41] <@NihabaAshi> Covered all ES Short @ 940.00 --> - 0.5
[14:49] <+codehead> don't know if that big order is sitll there--IB display problem
[14:51] <+codehead> still looking like up till it break down the breakout area, overnight high
[14:51] <+jbuch> Long ES @ 940.5
[14:52] <@NihabaAshi> Long ES @ 941.25 -> small size
[14:52] <@NihabaAshi> 2 only
[14:53] <@NihabaAshi> Exited all ES Long @ 940.25 --> - 1
[14:54] <+jbuch> Exited all ES Long @ 940 --> - 0.5
[14:54] <@NihabaAshi> it sliced through 940.25 with no volatility
[14:55] <@NihabaAshi> 1.75 tight trading range
[14:55] <+codehead> coming to bond market close
[14:55] <@NihabaAshi> Yeah...maybe will get lucky for that closure to increase volatility
[14:57] <@NihabaAshi> Long ES @ 940.00 -> small size
[14:57] <+codehead> still looking like up till be break down that overnigh high area
[14:57] <@NihabaAshi> 2 only
[14:57] <@NihabaAshi> intuition trade related to prior trade signal
[14:58] <@NihabaAshi> tightning trail
[14:59] <+codehead> we touched gap close, but have higher targets--was 944 area, but after going sideways like this, could really move for close if it gets thru that
[15:00] <@NihabaAshi> Exited all ES Long @ 939.50 --> - 0.5
[15:00] <+codehead> momo cross on 15 min
[15:01] <@NihabaAshi> Shorts ES @ 939.25 -> medium size
[15:01] <@NihabaAshi> 4 only
[15:01] <@NihabaAshi> support failed
[15:02] <@NihabaAshi>
[15:02] <+jbuch> Long ES @ 939.25
[15:02] <silo> hey wrbtrader, where was your support and what time did you shorted 939.25?
[15:03] <+silo> it looks like es's support was at 938.99 and we just went below it with a shadow
[15:03] <+silo> just wondering if you shorted before the support was broken or afterwards
[15:04] <+codehead> exit remainder ES short +2.25 <paper>
[15:04] <@NihabaAshi> I exited my Long @ support @ 939.50 and then Shorted @ 1 tick below that @ 939.25
[15:04] <+codehead> was going to try for 4, but being resilient
[15:05] <+codehead> if we close a candle under 938.75, should get some pb
[15:05] <@NihabaAshi> Covered all ES Short @ 939.00 --> + 0.25
[15:08] <@NihabaAshi> Shorts ES @ 938.50 -> small size
[15:08] <@NihabaAshi> 3 only
[15:08] <@NihabaAshi> intuition trade in reaction to prior trade
[15:08] <+jbuch> Exited all ES Long @ 938.25 --> - 1
[15:10] <@NihabaAshi> this thing could tick back - n - forth all the way down for several points before reaching a decent support level
[15:10] <@NihabaAshi> making it very difficult to stay in a short position
[15:10] <@NihabaAshi> creeper price action
[15:11] <+jbuch> Long ES @ 938.5
[15:12] <@NihabaAshi> Covered all ES Short @ 938.75 --> - 0.25
[15:13] <@NihabaAshi> Shorts ES @ 938.50 -> small size
[15:13] <@NihabaAshi> 3 only
[15:13] <@NihabaAshi> intuition in reaction to prior trade
[15:15] <@NihabaAshi> Covered all ES Short @ 939.00 --> - 0.5
[15:16] <@NihabaAshi> I'm becoming more bearish hear but will need to take my usual break from trading...
[15:16] <@NihabaAshi> be back around 3:35pm est
[15:18] <+jbuch> Exited all ES Long @ 938.75 --> + 0.25
[15:21] <+jbuch> Long ES @ 939.5
[15:26] <+jbuch> tough pa
[15:30] <+jbuch> Exited all ES Long @ 940.25 --> + 0.75
[15:31] <@NihabaAshi> just got back
[15:34] <+jbuch> Long ES @ 939.5
[15:35] <+jbuch> 1 more time
[15:37] <@NihabaAshi> back into that prior 1.75 range
[15:37] <@NihabaAshi> Looks like the market is content here
[15:39] <+jbuch> Exited all ES Long @ 940.25 --> + 0.75
[15:39] <+jbuch> i worn out
[15:40] <+jbuch> can't even write a complete sentance.
[15:40] <@NihabaAshi> Yeah...that's why I usually exploit that 15min - 20min break starting around 3:15pm est to re-focus while walking down the street to meet my kid at the bus stop.
[15:42] <@NihabaAshi> Earlier today I took a 3 hour break from trading just to enjoy the nice sun today.
[15:42] <+jbuch> I was on vaca last week and was taking the middle of the day off actually did better
[15:42] <@NihabaAshi> Shorts ES @ 939.00 -> small size
[15:42] <+rickf> i've learned to park myself in front of the display all day is counterproductive
[15:42] <@NihabaAshi> 3 only
[15:42] <+rickf> even if itmean running errands, napping, or whatever --- better to clear your head and miss a trade than get stupid
[15:43] <+jbuch> yeah 7 hours of this is pretty intense
[15:45] <+jbuch> it is funny did construction for twenty years and after a tight little day like this am more tired at the end of the trading day then i ever was doing construction
[15:45] <+rickf> being bored can lead to overtrading
[15:45] <+rickf> jb -- yes, this is FAR more intellectualyl rigorous
[15:46] <@NihabaAshi> Covered all ES Short @ 939.50 --> - 0.5
[15:46] <@NihabaAshi> Long ES @ 940.00 -> small size
[15:46] <@NihabaAshi> 3 only
[15:46] <+jbuch> being supported by the up trend line
[15:47] <@NihabaAshi> lets see if it's going to return back to the top of that 1.75 tight trading range...
[15:47] <@NihabaAshi> It just did
[15:48] <+jbuch> thought it was going to break out and push up for another leg but getting late.
[15:48] <@NihabaAshi> Exited all ES Long @ 940.25 --> + 0.25
[15:50] <@NihabaAshi> Shorts ES @ 939.25 -> small size
[15:50] <@NihabaAshi> 3 only
[15:51] <@NihabaAshi> Covered all ES Short @ 939.75 --> - 0.5
[15:52] <@NihabaAshi> Long ES @ 940.00 -> small size
[15:52] <@NihabaAshi> 3 only
[15:53] <@NihabaAshi> back at the top of the range again
[15:53] <@NihabaAshi> may get lucky this time in that it will break out
[15:53] <@NihabaAshi> tight trail again as usual for this type of price action
[15:54] <@NihabaAshi> Exited all ES Long @ 940.25 --> + 0.25
[15:55] <+jbuch> unbelievable
[15:55] <@NihabaAshi> Long ES @ 939.50 -> small size
[15:55] <@NihabaAshi> 3 only
[15:55] <+rickf> flat as glass now
[15:58] <@NihabaAshi> tight trail
[15:58] <@NihabaAshi> Exited all ES Long @ 941.25 --> + 1.75
[15:59] <@NihabaAshi> 941.25 was the resistance top of that prior tight range...
[15:59] <@NihabaAshi> thought it would make a good trail stop location
[16:00] <@NihabaAshi> right it's acting like an ugly pivot point
[16:01] <@NihabaAshi> meant right now
[16:01] <+jbuch> wrbtrader u r tenacious
[16:01] <@NihabaAshi> well...once I recognize the tight trading range...
[16:02] <@NihabaAshi> I knew to trade within it I need to keep tight stops than hope one of the trades turns into a runner.
[16:02] <@NihabaAshi> My last trade almost became a runner
[16:02] <@NihabaAshi> Was looking for a breakout of that tight range
[16:03] <@NihabaAshi> up or down...didn't matter to me
[16:03] <@NihabaAshi> in the end...wasn't worth it...
[16:03] <+jbuch> sure i hear ya and the fact that u can keep getting in there is one of the things that seperates u from most traders
[16:03] <@NihabaAshi> Ended up with the same profit that I started with before the range
[16:04] <+jbuch> but it usually is
[16:04] <+jbuch> worth it i mean
[16:04] <@NihabaAshi> Well...profit measurement...not worth it.
[16:04] <@NihabaAshi> Experience...yes...worth it.
[16:05] <@NihabaAshi> I'm learning to adapt to this type of price action now because it was not commonplace type of price action last year...
[16:05] <@NihabaAshi> This year it's commonplace.
[16:06] <@NihabaAshi> The major change I've made that a few have notice is that I don't do as many "position reversals" as I did last year or prior years.
[16:06] <+jbuch> yeah i feel as though i am fairly good at it because it is all that i have really seen
[16:06] <+rickf> also taking smaller profit targets too i think
[16:06] <@NihabaAshi> That's the little adaption that has paid big time this year so far.
[16:06] <+rickf> i know i have reduced my goals this year
[16:07] <@NihabaAshi> same here
[16:08] <@NihabaAshi> I'm also spending more time away from the markets during the trading day in comparison to prior years.
[16:09] <@NihabaAshi> I'm sure that has kepted me from burning out (too much frustration) I see occurring in other traders that have been glued to their monitors every trading day so far this year.
[16:09] <@NihabaAshi> Their afraid to miss something.
[16:09] <+rickf> you said it wrbtrader
[16:09] <+jbuch> i wonder if the tighter ranges are a result of the programs or if it is just a cycle
[16:10] <@NihabaAshi> This year is living up to be a "trader psychology" year.
[16:10] <+rickf> i think uncertainty more than programs
[16:10] <+rickf> everyone treading softly
[16:10] <@NihabaAshi> I see more websites now dealing with "trader psychology" than I saw last year.
[16:11] <+jbuch> alright got a dirty diaper to change cya all tomorrow.
[16:12] <@NihabaAshi> take care
[16:12] <@X> #FuturesTrades Info -> 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. Also, do not mimic (shadow) trades of others without their permission.

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