##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: Tue Jun 09 09:21:32 2009
Session Ident: #futurestrades
[09:21] * Now talking in #futurestrades
[09:21] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:27] <jbuch> morning everyone
[09:28] <rickf>
[09:28] <Nesi> hi jbuch
[09:30] <drt>
[09:32] <+rickf> long es 940.50
[09:34] <+rickf> out 9410.50 +1
[09:34] <+rickf> 941.50
[09:34] <+Nesi> nice
[09:34] <+rickf> ty
[09:35] <Awash> good morning all
[09:35] <+rickf> grrr i KNEW that pop was coming
[09:36] <+rickf> i panicked at that first chop, thought we were going to break support
[09:36] <+rickf> owell a win is a win, the logic was right
[09:40] <+jbuch> Shorts ES @ 943
[09:41] <+Awash> no direction yet in this market
[09:42] <+Nesi> getting crazy again
[09:42] <+Nesi> geez
[09:42] <+jbuch> Covered all ES Short @ 942.75 --> + 0.25
[09:45] <+jbuch> Long ES @ 943.5
[09:46] <+jbuch> Exited all ES Long @ 943.75 --> + 0.25
[09:46] <+jbuch> lol
[09:49] <+jbuch> I usually grab a profit at a previous swing point but am expecting a breakout in 1 direction or another so am trying to hang not working so well
[09:51] <+Awash> i have high volume on my last two five minute candles but no movement higher and doji candles
[09:51] <+Awash> possible selling at highs
[09:52] <@NihabaAshi> It moved too fast on that downside pressure through the 943 level
[09:53] <+jbuch> yeah but the majority of the volume was on an expanding bar that broke throught the opening range on the 1 min
[09:53] <+jbuch> would have liked to have seen a reversal bar on high vol
[09:55] <+Awash> Does anyone have any comments about how price is trading on the Daily chart for $SPX or $INDU?
[09:55] <+jbuch> time and sales showed large positions buying aggresivly as well as well
[09:56] <@NihabaAshi> Shorts ES @ 940.50 -> medium size
[09:56] <@NihabaAshi> 4 only
[09:58] <@NihabaAshi> Covered all ES Short @ 940.25 --> + 0.25
[09:58] <@NihabaAshi> sidelined
[09:58] <@NihabaAshi> will just watch
[09:58] <TraderG> news @ 10
[09:59] <+TraderG> EST
[10:07] <@NihabaAshi> Long ES @ 939.50 -> small size
[10:08] <@NihabaAshi> 3 only
[10:10] <+jbuch> Long ES @ 939.75
[10:13] <@NihabaAshi> Exited all ES Long @ 941.50 --> + 2
[10:14] <+drt> s es 41.50
[10:17] <+jbuch> Exited all ES Long @ 940.5 --> + 0.75
[10:17] <+Nesi> wtg..jbuch
[10:18] <+jbuch> Long ES @ 940
[10:21] <+jbuch> Exited all ES Long @ 939.25 --> - 0.75
[10:21] <+drt> cs es 38.50
[10:22] <+jbuch> hello 938
[10:23] <+TraderG> 939 seems like a good target
[10:23] <+TraderG> 936
[10:23] <+TraderG> sorry
[10:24] <@NihabaAshi> Long ES @ 939.25 -> small size
[10:24] <@NihabaAshi> 1 only
[10:24] <@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.
[10:25] <@NihabaAshi> Exited ES Long @ 938.75 --> - 0.5
[10:25] <@NihabaAshi> Reverse and Enter Short ES @ 938.75
[10:25] <@NihabaAshi> 2 only
[10:25] <@NihabaAshi> intuition
[10:26] <@NihabaAshi> shallow pt reached
[10:28] <@NihabaAshi> Covered all ES Short @ 938.75 --> 0
[10:29] <@NihabaAshi>
[10:32] <+drt> s es 39.50
[10:33] <+Nesi> no direction
[10:33] <+rickf> hovering @ the 200ma
[10:33] <+rickf> dangerous waters here
[10:34] <+rickf> was looking short at 40.50 but cancelled the order
[10:34] <+jbuch> Long ES @ 939.75
[10:36] <+drt> cs es 9.75
[10:38] <fcb98292> Short ES 940
[10:38] <+fcb98292> Tgt 939
[10:38] <+jbuch> Exited all ES Long @ 939.25 --> - 0.5
[10:38] <+fcb98292> part fill
[10:39] <+fcb98292> flat
[10:39] <+rickf> thinking she's gonna break
[10:40] <+jbuch> Long ES @ 939.5
[10:40] <+rickf> or not
[10:40] <+jbuch> me to rickf
[10:40] <+rickf> hehe
[10:40] <+rickf> i'm watching right now -- as i said, too much uncertainty here
[10:41] <+rickf> might take a small short scalp from 942 00>940 if possible
[10:42] <+rickf> but then again a 3 point range is scary
[10:42] <+fcb98292> yep.
[10:43] <+fcb98292> Short ES 941
[10:43] <+fcb98292> tight stop
[10:44] <+fcb98292> Tgt 940
[10:44] <+fcb98292> no fill
[10:44] <+fcb98292> at tgt
[10:45] <+fcb98292> Exit 940.25 +.75
[10:46] <+fcb98292> tight
[10:46] <+jbuch> beige book tomorrow wonder if we will be range bound today
[10:47] <+jbuch> Exited all ES Long @ 939.75 --> + 0.25
[10:48] <+fcb98292> SHort ES 939.5
[10:48] <+fcb98292> Tgt 938
[10:49] <+fcb98292> Stop to BE
[10:49] <+jbuch> hello 938
[10:49] <+fcb98292> no fill yet at tgt
[10:49] <+fcb98292> flat
[10:54] <+rickf> off to the gym - maybe things will pick up later today
[10:54] <+rickf> back later
[10:55] <+Awash> Shorts ES @ 937
[11:05] <+fcb98292> Short 936.75 for 934.
[11:07] <+fcb98292> Stop to BE.
[11:07] <+fcb98292> flat
[11:07] <+Awash> Covered all ES Short @ 936.75 --> + 0.25
[11:10] <TraderG> lost cable and phone @ the same time
[11:10] <+fcb98292> not a good scalping morn, bb tomorrow.
[11:13] <+TraderG> i didn't notice that we hit 936 while I was off line
[11:13] <Monday> does AMT every come in here anymore?
[11:14] <+TraderG> the crystal ball still works
[11:20] <@NihabaAshi> Hi Monday...he does not.
[11:21] <@NihabaAshi> I think AMT4SWA only trasdes stocks or forex now.
[11:21] <@NihabaAshi> He still post at EliteTrader.com
[11:22] <@NihabaAshi> However, some of his posts at ET involves ES.
[11:23] <@NihabaAshi> Before he left he did specifically say he's not day trading any more but his post at ET suggest something different
[11:25] <+Awash> he still trades, system trades, I spoke with him less than a year ago
[11:25] <+Monday> thanks guys
[11:30] <+Awash> you definitely need patience on days like this
[11:32] <+jbuch> Long ES @ 97.5
[11:32] <@NihabaAshi> I'm slowly getting bearish now
[11:32] <@NihabaAshi> This market will need to take out 940 for me to go back to neutral
[11:47] <+jbuch> Exited all ES Long @ 937.75 --> + 840.25
[11:47] <+jbuch> nice I can now retire
[11:48] <+Monday> lol
[11:48] <+Monday> yea if it was 9000 cars
[11:48] <+Monday>
[11:48] <+jbuch> entry was at 937.5
[11:48] <+jbuch> )
[11:48] <+TraderG>
[11:49] <+TraderG> Bentley's or something else
[11:49] <+jbuch> Iam looking at the bentlies but keeping my options open
[11:49] <OICU812> Good morning
[11:49] <+OICU812> Sloww day today
[11:50] <+OICU812> bentlies are nice
[11:50] <+jbuch> morning OIC
[11:51] <+OICU812>
[11:51] <+OICU812> watching the market today is like watching paint dry
[11:52] <+OICU812> i sincerily hope we get a summer rally
[11:52] <+OICU812> or a summer crash either way im happy
[11:53] <+jbuch> yeah same here just some sustained volatility would be nice.
[11:53] <+Monday> yea vix back in the 30's
[11:53] <+Monday> so sad
[11:54] <+jbuch> we need cnbc to generate some fear
[11:54] <+OICU812> seems like it were coiling up for a big move
[11:55] <+jbuch> yup
[11:59] <+jbuch> Long ES @ 937.5
[11:59] <+jbuch> 1 more time
[12:00] <+OICU812> im there with you, liked the 37.00 support, now lets see if it even moves
[12:00] <+jbuch> yeah
[12:03] <+TraderG> what a day. i am going 2 take a nap
[12:05] <+OICU812> havent seen it this slow in ages
[12:05] <+Awash> don't go to , remember what happened yesterday
[12:06] <+jbuch> come on baby
[12:08] <+OICU812> nice one jbuch
[12:08] <+OICU812> at least something
[12:09] <+jbuch> thanks same to u
[12:10] <+jbuch> Exited all ES Long @ 939 --> + 1.5
[12:11] <+jbuch> shouldn't not have taken it but that wore my ass down a little bit
[12:11] <+jbuch> need some more coffe BRB
[12:22] <+Awash> Shorts ES @ 940.25
[12:23] <codehead> short ES 940.25 2c <paper>
[12:23] <+Awash> nice entry codehead, we sold together
[12:23] <+codehead> :-)
[12:24] <+codehead> don't want to see it break 941.25 by much
[12:27] <@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.
[12:27] <+codehead> 2 pt stop, but looking for exit on pb
[12:42] <+Awash> may go flat soon
[12:43] <+codehead> exit ES +0.00 <paper>
[12:43] <+codehead> i think more down
[12:45] <+codehead> i thought that big cci vegas was going to form and trigger
[12:45] <+codehead> did
[12:47] <+jbuch> Long ES @ 940.25
[12:52] <+jbuch> Exited all ES Long @ 940.75 --> + 0.5
[12:54] <+rickf> back.....and missed nothing
[12:54] <+codehead> short ES 941.00 2c <paper>
[12:54] <+codehead> stop 942.25 as before
[12:55] <+jbuch> Long ES @ 940.75
[12:57] <+codehead> 15 min chart is still long
[13:01] <jigglyhippo> obama is speaking soon about tarp right?
[13:02] <+jbuch> Exited all ES Long @ 941 --> + 0.25
[13:02] <+jbuch> got out that just in a nick of time lol
[13:02] <+codehead> stopped ES 2c -1.25 <paper>
[13:03] <+jigglyhippo> oh man as soon as you sold it shot up
[13:03] <+jbuch> all this sideways action today has got me worn out
[13:03] <Awash> Covered all ES Short @ 942.50 --> - 2.25
[13:03] <+jigglyhippo> i hear you
[13:04] <+jbuch> good vol on that breakout
[13:06] <+jbuch>
[13:07] <+Awash> looks like a failed b/o
[13:11] <+Awash> Shorts ES @ 940.50
[13:18] <+rickf> *yawn*
[13:26] <@NihabaAshi> Long ES @ 940.25 -> small size
[13:26] <@NihabaAshi> 1 only
[13:28] <+OICU812> what an annoying day
[13:31] <@NihabaAshi> Exited ES Long @ 940.50 --> + 0.25
[13:35] <@NihabaAshi> Shorts ES @ 940.50 -> small size
[13:35] <@NihabaAshi> 2 only
[13:37] <@NihabaAshi> price noise area
[13:37] <@NihabaAshi> 940.00
[13:39] <+Awash> this is crap
[13:41] <@NihabaAshi> Covered all ES Short @ 941.75 --> - 1.25
[13:45] <+rickf> hey wrbtrader - btw i saw 2 eps of million dollar traders over the weekend ... pretty good series as you said
[13:45] <+jigglyhippo> what network is that on
[13:46] * +rickf found myself a few times nodding my head going "been there, done that, said that (earlier in my trading career)"
[13:46] <+rickf> bbc - tho i pulled them off torrents
[13:46] <+jigglyhippo> sounds interesting might have to dl them myself
[13:47] <+rickf> the psychology is interesting
[13:47] <+rickf> on that i can relate 100%
[13:47] <silo2> million dollar traders
[13:47] <+silo2> got a link?
[13:48] <+rickf> i just pulled down via bit torrent
[13:48] <+rickf> tho might be available on bbc website
[13:48] <+rickf> need to check
[13:50] <+rickf> only see 3 episodes listed on the bbc website though
[13:50] <+rickf> dunno how many htere are
[13:50] <@NihabaAshi> Shorts ES @ 941.00 -> small size
[13:50] <@NihabaAshi> 3 only
[13:54] <@NihabaAshi> Covered all ES Short @ 941.75 --> - 0.75
[13:56] <Awash> Covered all ES Short @ 942.25 --> - 1.75
[14:00] <+jigglyhippo> Long ES @ 943.25
[14:04] <+jigglyhippo> Exited ES Long @ 943.00 --> + 0
[14:04] <+jigglyhippo> sorry: Exited ES Long @ 943.250 --> + 0
[14:06] <@NihabaAshi> Long ES @ 943.50 -> small size
[14:06] <@NihabaAshi> 2 only
[14:06] <@NihabaAshi> intuition
[14:07] <@NihabaAshi>
[14:07] <@NihabaAshi> resistance was as 944.25
[14:08] <+jbuch> Shorts ES @ 943.75
[14:08] <@NihabaAshi> would have been nice had I seen that BEFORE my Long entry
[14:12] <+jbuch> Covered all ES Short @ 943 --> + 0.75
[14:12] <+jbuch> don't trust it
[14:15] * Awash is now known as Awash_lunch
[14:17] <@NihabaAshi> Exited all ES Long @ 944.75 --> + 1.25
[14:17] <+OICU812> do you guys usually take the bid and the ask for entries? or use market orders?
[14:18] <@NihabaAshi> both for me
[14:18] <@NihabaAshi> depens on how slow or fast the price action
[14:18] <+OICU812> i usually take the bid and the ask.
[14:20] <+rickf> i use limits
[14:20] <+jigglyhippo> same as rickf
[14:20] <+rickf> try to place my orders in advance -- market orders to me are chasers
[14:21] <+rickf> gor burned a few times using market orders
[14:21] <+rickf> not here and not recently, though
[14:29] <@NihabaAshi> creeper uptrernd so far since 1:15pm est
[14:29] <@NihabaAshi> tough to trade
[14:30] <@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.
[14:45] * Awash_lunch is now known as Awash
[14:45] <+Awash> looks like some selling at the highs
[14:48] <+jbuch> Long ES @ 944
[14:50] <+rickf> long es 943.75
[14:51] <+jigglyhippo> Long ES @ 943.75
[14:53] <+rickf> out 944.25 +.50
[14:54] <+jigglyhippo> Exited all Long @ 944.00 --> +0.25
[14:54] <@NihabaAshi> Shorts ES @ 943.50 -> small size
[14:54] <@NihabaAshi> weak support area
[14:55] <@NihabaAshi> may just get lucky if it collapse for a point
[14:55] <@NihabaAshi> 2 only
[14:55] <+jbuch> Exited all ES Long @ 943 --> - 1
[14:56] <@NihabaAshi> Covered all ES Short @ 943.50 --> 0
[15:00] <@NihabaAshi> Long ES @ 944.75 -> small size
[15:00] <@NihabaAshi> 3 only
[15:00] <+Nesi> looks like it wants to go up like yesterday
[15:00] <+Nesi> kinda crazy move like yesterday..imho
[15:01] <@NihabaAshi> It needs to get above 946.00 and then hope that Long show up to tip the scale further to the upside
[15:03] <+Nesi> hope its not a trap
[15:03] <+jigglyhippo> Long ES @ 944.00
[15:03] <@NihabaAshi> Exited all ES Long @ 944.00 --> - 0.75
[15:03] <+rickf> short es 943.75
[15:03] <+Nesi> good stop..wrbtrader
[15:04] <@NihabaAshi> That stop was where I should have entered the Long
[15:05] <@NihabaAshi> Long ES @ 943.25 -> small size
[15:05] <+Nesi> lets see if it try again
[15:05] <@NihabaAshi> 3 only
[15:05] <+Nesi> trying
[15:05] <@NihabaAshi> intuition into the same prior trade but this time a better entry price
[15:06] <+Nesi> i learn a lot watching your entries and exits..wrbtrader
[15:07] <+Nesi> pushhh
[15:07] <+jigglyhippo> Exited all ES Long @ 944.50 --> +.5
[15:07] <+jigglyhippo> i should have got out and got back in like you wrbtrader
[15:07] <@NihabaAshi> Push to 946 would be nice but most likely a profit target will develop prior to the 946 price area
[15:09] <+Nesi> i think 945.50 is key for leg up..imho
[15:09] <@NihabaAshi> tighten stop
[15:09] <@NihabaAshi> Exited all ES Long @ 943.75 --> + 0.5
[15:09] <+Nesi> darn
[15:10] <+Nesi> you really had a good entry
[15:12] <@NihabaAshi> Long ES @ 943.25 -> small size
[15:13] <@NihabaAshi> 2 only
[15:13] <@NihabaAshi> intuition
[15:13] <@NihabaAshi> same as prior trade
[15:14] <+jigglyhippo> Long ES @ 943.00
[15:15] <@NihabaAshi> Exited all ES Long @ 943.25 --> 0
[15:15] <+jigglyhippo> Exited all ES Long @ 942.00 --> -1
[15:16] <+jigglyhippo> damn
[15:16] <@NihabaAshi> support level tested @ 941.75
[15:16] <+rickf> out 841.75 +2
[15:16] <+rickf> ugh nail biter of a trade
[15:16] <+rickf> not one i nromally will do but i had a hunch
[15:17] <+rickf> out 942 +1.75 (correction)
[15:17] <@NihabaAshi> You picked a great place to cover that short because it's a decent support level...
[15:18] <@NihabaAshi> It could setup for a bullish bounce back to the upside.
[15:18] <+rickf> well that was a counter-trend trade for me --- i shorted where i normally would go long
[15:18] <+rickf> thanks tho
[15:18] <@NihabaAshi> unfortunately I won't be able to trade it if something does develop...
[15:18] <@NihabaAshi> Gotta go...be back later.
[15:18] <+rickf> now it looks like a nice long, but i'm worn out after that last one
[15:18] * NihabaAshi is now known as NihabaAshi_away
[15:20] <+rickf> too much work for too few points today
[15:22] <+jigglyhippo> seems like it wants to go up
[15:23] <+jigglyhippo> but not doing a whole lot
[15:24] <+jigglyhippo> guess i was completely wrong lol
[15:24] <+rickf> eeep me too ...
[15:31] <+jbuch> Long ES @ 942.5
[15:33] <+jbuch> testing the down trendline from the top.
[15:35] <tomosyn57> Long SSO @ 27.63
[15:37] <+jigglyhippo> what are you looking for jbuch?
[15:37] <+jigglyhippo> so far nice trade
[15:37] <+tomosyn57> exit stop set SSO @ 27.65
[15:38] <+jbuch> Exited all ES Long @ 944.5 --> + 2
[15:38] <+Nesi> gonna get crazy like yesteday
[15:39] <+jbuch> was shooting for 945.75 but happy with that
[15:39] <+tomosyn57> Trailing Stop Hit SSO @ 27.65 --> + 0.02
[15:40] <+jbuch> need to kick it up to 2 contracts hard for me to hang onto 1
[15:40] <+Nesi> you reached your goal for today...jbuch?
[15:41] <+jbuch> yeah double I think
[15:41] <+jbuch> try not to look at what I have made makes me protect my profits
[15:44] * NihabaAshi_away is now known as NihabaAshi
[15:47] <+tomosyn57> Shorts SSO @ 27.6
[15:47] <+tomosyn57> exit stop set SSO @ 27.58
[15:48] <+tomosyn57> Trailing Stop Hit SSO @ 27.58 --> + 0.02
[15:58] <+jbuch> looks like a good long but to lte in the day for me
[15:59] <+jbuch> glad i didn't take that )
[16:04] <+tomosyn57> my broker made money today
[16:06] <+OICU812> have a good evening everyone
[16:06] <+OICU812> defenetly a patience day
[16:09] <+jbuch> have a good night all
[16:11] <@NihabaAshi> Not a lot of action today.
[16:11] <@NihabaAshi> However, the daily charts are setting up for a big trend day sometime this week.
[16:12] <@NihabaAshi> Worst come to worst...we'll just get a strong parabolic intraday price movement and then some sideways price action.
[16:12] <Awash> good night all
[16:12] <+Awash> take it eazy
[16:13] <@NihabaAshi> Thus, I'll be looking for trade opportunities for an increased position size for the remainder of the trading week.
[16:13] <@NihabaAshi> Take care all and see all tomorrow
[16:14] * NihabaAshi is now known as NihabaAshi_away

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