##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.

------------------------

Session Start: Fri Jun 12 09:32:01 2009
Session Ident: #futurestrades
[09:32] * Now talking in #futurestrades
[09:32] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:32] <pat255> N
[09:34] <@NihabaAshi> Good morning all and no trading today for me (too many personal things to do)
[09:34] <+rickf> wrbtrader
[09:35] <jbuch> xlf is moving up
[09:36] <Awash> good morning all
[09:36] <+rickf> short es 935.50 1 ct
[09:38] <+rickf> out 934.25 +1.25
[09:39] <+jbuch> Long ES @ 935
[09:40] <+rickf> short es 936.25 1ct
[09:42] <+jbuch> Exited all ES Long @ 935.75 --> + 0.75
[09:44] <+rickf> out 935 +1.25
[09:45] <+pat255> vn
[09:45] <+rickf> ty
[09:45] <+jbuch> 934.5 is approxiametly the area that was formerly known as 938 which has been a strong pivot
[09:45] <+rickf> only running 1 or 2 contracts until the new contract series action 'feels' right to me
[09:45] <+rickf> (if that makes any sense)
[09:47] <werner> all
[09:47] <+rickf> werner
[09:47] <+werner> hi rickf
[09:47] <+jbuch> hey werner
[09:47] <+werner> hi jbuch
[09:48] <TraderG> heeee ha
[09:48] <+TraderG> every 1
[09:48] <+TraderG> let's lose some $$$$
[09:48] <+TraderG> oops
[09:48] <+werner> TG
[09:48] <+TraderG> let's make some money
[09:48] <+TraderG> werner
[09:48] <+rickf> no, let's make the OTHER guy lose some $$
[09:49] <+jbuch> Long ES @ 935
[09:51] <+jbuch> these longs r scary am bearish on the market this am
[09:52] <+rickf> no clear direction
[09:54] <+jbuch> Exited all ES Long @ 935.25 --> + 0.25
[09:55] <+werner> bc 60'nq here
[09:56] <+jbuch> messy start
[09:57] <+Awash> Shorts YM @ 8675 «« paper »»
[09:57] <+Awash> Covered all YM Short @ 8675 --> 0 «« paper »»
[09:57] <+Awash> Shorts YM @ 8675
[09:58] <+werner> Long NQ @ 1476.75
[10:00] <+Awash> let see if we breakdown at PDL
[10:00] <+werner> Exited all NQ Long @ 1473.75 --> - 3
[10:04] <+jbuch> low of 2 days ago
[10:05] <@NihabaAshi> NQ fell off the cliff
[10:06] <+werner> yep
[10:10] <+Awash> so far, support is holding
[10:10] <drt> s es 33
[10:11] <@NihabaAshi> weak support area
[10:18] <+Awash> Covered all YM Short @ 8700 --> - 25
[10:18] <+rickf> short es 936
[10:18] <+rickf> 1 ct
[10:25] <+rickf> out 935.50 +.50
[10:25] <+drt> cs es 36
[10:25] <+rickf> still learning not to panic on short spikes
[10:26] <baxwill> Rick, nic holding
[10:26] <+rickf> ty
[10:26] <+baxwill> nice
[10:26] <+drt> l es 36
[10:26] <+rickf> almost dumped for a few tick loss 'to be safe' but decided to stick it out
[10:27] <+baxwill> tough , I could not have done it
[10:27] <+rickf> i used to do that all the time
[10:28] <+baxwill> what was your conviction that it would continue as a short?
[10:28] <+rickf> not sure -- more like a better-than-average hunch i guess
[10:29] <+baxwill> cool
[10:30] <+rickf> whenever i start to panic i force myself to stop and think ... keep a level head and as long as i'm goign with what i think/see is the correct trend direction, know i can probably get out of my jam either at b/e or for a slight loss
[10:30] <+rickf> if you're going in the right direction, and your trade goes against you, i've seen a few times where it will pop back to your entry point and you can dump at b/e if you want to exit
[10:31] <+rickf> if you counter-trend trade that will almost never happen - i learned that the hard way last summer
[10:31] * +rickf keeps the odds in your favor, at least in my view
[10:32] <+jbuch> that sounds good but the trend was up at the time
[10:32] <+TraderG> if YOU GO IN THE RIGHT DIRECTION why would u close the position once it resumes going in your direction?
[10:32] <+rickf> jb: trend is whatever timeframe you are looking at -- can have 2 ppl be on opposite trades and both come out winners
[10:32] <+Awash> Shorts YM @ 8695
[10:33] <+rickf> TG: if i lose conviction in the trade, i will exit !
[10:33] <+jbuch> and it had broken through all res levels
[10:33] <+jbuch> the up trendline is broken now but
[10:34] <+jbuch> true from yesterday afternnon it is down
[10:35] <+TraderG> i c
[10:35] <+jbuch> Long ES @ 935.25
[10:35] <+rickf> as i said, the 'trend' is whatever you see it to be --- and btw i rarely look at previous day levels
[10:36] <+drt> cl es 36.
[10:36] <+jbuch> so just looking at today u felt as though the trend was down
[10:37] <+rickf> at that slice of time, and in my view, the short-term intraday trend was down
[10:37] <+rickf> yeah
[10:37] <+jbuch> right on
[10:39] <+rickf> nice entry btw
[10:39] <+rickf> FYI: GM, Chrysler Officials Appear Before House Subcommittee
[10:39] <+rickf> happening now
[10:42] <+jbuch> Exited all ES Long @ 937.25 --> + 2
[10:42] <+rickf> vn
[10:42] <+werner> nice
[10:42] <+jbuch> thanks
[10:43] <OICU812> Good morning all
[10:43] <Nesi> hey
[10:43] <+baxwill> Jbuch, pure perfection
[10:43] <+jbuch> hey OIC
[10:44] <+jbuch> well thanks baxwill
[10:44] <+jbuch> looks like I shoulda hung onto it though
[10:44] <+baxwill> hell, who would know
[10:45] <+baxwill> theres always another
[10:45] <+rickf> exactly
[10:45] <+jbuch> yup happy with what I got
[10:47] <+rickf> ok off for a bit - gym time
[10:47] <+rickf> back in a bit
[10:49] <@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.
[10:52] <+Awash> Shorts YM @ 8720 -> Add
[10:52] <+Awash> avg: 8708
[11:01] <+jbuch> testing the up trendline
[11:25] <+TraderG> the difference between the market and a house is that a house as a floor and a ceiling
[11:27] <+Awash> Covered all YM Short @ 8706 --> + 3
[11:27] <+jbuch> Long ES @ 936
[11:27] <+Awash> +2 only
[11:34] <+jbuch> slowwwwww
[11:35] <+jbuch> Exited all ES Long @ 937 --> + 1
[11:35] <+jbuch> breakfast time
[11:36] <+jbuch>
[11:36] <+baxwill> Jbuch, you have a hair trigger on that entry
[11:37] <+baxwill> and exit signals
[11:44] <+Awash> Shorts YM @ 8700
[11:50] <+Awash> big volume spike on ES
[11:56] <+Awash> Covered all YM Short @ 8700 --> 0
[11:56] <+Awash> i'm done for today
[11:56] <+Awash> shouldn't be traded this like i am
[11:57] <+Awash> STILL Short swing position
[11:57] <+Awash> happy trading the remainder of the session
[12:04] <+jbuch> 934 the area previously known as 938 seems to working as a pivot still
[12:11] <+jbuch> dang it tried to catch that like 5 times sat on my limit but no fill
[12:12] <+jbuch> and it sat there a while
[12:19] <+rickf> back for a bit
[12:22] <+jbuch> testing dtl from the top
[12:25] <+jbuch> man I am falling asleep
[12:26] <+jbuch> time for some coffee
[12:37] <jigglyhippo> ZzZzZz
[12:49] <codehead> 939.50 is .382 bounce of yesterday's high to today's low--note 939.25 was top of bounce
[12:49] <+codehead> if it breaks that, 942-942.25
[12:51] <+codehead> 929.25 is next downside if lod breaks
[12:52] <@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.
[12:54] <+jbuch> nice fakeout there
[12:56] <+jbuch> sombody is protecting 935
[13:02] <+pat255> S here?
[13:08] <+jbuch> no follow through on any thing
[13:18] <+jbuch> Long ES @ 936.75
[13:36] <+jigglyhippo> been pretty sloww today
[13:37] <+werner> Long NQ @ 1474.50
[13:38] <+jbuch> brutal been positive then negativ then positive then negative
[13:38] <+werner> lol
[13:38] <+jigglyhippo> yeah man
[13:38] <+jbuch> now positive
[13:39] <+TraderG> 8 point range 2day
[13:39] <+TraderG> so far
[13:39] <+TraderG> something is cooking.......
[13:39] <+TraderG> i can smell it
[13:39] <+jbuch> now negative
[13:39] <+TraderG> I think it is a Schnizel
[13:40] <+jbuch> come on baby
[13:42] <+rickf> i may call this an early day
[13:43] <+TraderG> I would call it FRIDAY
[13:44] <+TraderG> let's have a vote
[13:46] <+werner> Exited all NQ Long @ 1477.00 --> + 2.5
[13:46] <+rickf> vn
[13:46] <+werner>
[13:47] <+jbuch> i didn't go through all of that for a point this thing is taking me out for a loss or plus 3
[13:48] <+werner> maybe more indd
[13:48] <+TraderG> the smalles daily range during the last contract for the ES was 11.5 points
[13:48] <+werner>
[13:48] <+TraderG> smallest
[13:49] <+jbuch> probably not U got out at a good tim
[14:02] <+jigglyhippo> jb youre a trooper man
[14:02] <+werner> back
[14:02] <+jbuch> I believe idiot is the proper term all of sig say sell
[14:03] <+jbuch> Exited all ES Long @ 937 --> + 0.25
[14:03] <+jbuch> wow does that suck
[14:07] <+jigglyhippo> =/
[14:07] <+jigglyhippo> tough trade man
[14:08] <+jbuch> oh well
[14:08] <+jbuch> good for my patience
[14:09] <+pat255> did move then just dies
[14:11] <+jbuch> yeah sombody is buying down here but not enough interest to push it higher
[14:11] <+jbuch> tight range even for a friday expected a breakout
[14:18] <+jbuch> Long ES @ 937..25
[14:22] <+jbuch> can't seem to break the tl at the top of this wedge
[14:26] <+rickf> yawn
[14:26] <+rickf> hey IS
[14:27] <+jbuch> Exited all ES Long @ 936.75 --> + 936.75 - 937..25
[14:36] <+jbuch> Long ES @ 938.
[14:36] <+jbuch> chased that
[14:37] <+jigglyhippo> where did you want to get in?
[14:38] <+jbuch> wasn't paying attention I had a sig at the up trendline around 936
[14:38] <+jigglyhippo> ahh i tried to get in at 936.5, missed it though
[14:39] <+jbuch> 936.5 I mean.
[14:41] <+jbuch> come on
[14:42] <+jbuch> Exited all ES Long @ 941.25 --> + 3.25
[14:42] <+jigglyhippo> nicee
[14:42] <+jbuch> bam
[14:42] <+rickf> wtg
[14:43] <+TraderG> vn
[14:43] <+werner> Shorts NQ @ 1486.75
[14:43] <+werner> vn rickf
[14:43] <+rickf> not me
[14:43] <PeterPanBoy> hello all
[14:44] <+werner> lol
[14:44] <+PeterPanBoy> Shorts ES @ 841.75 «« paper »»
[14:44] <+jbuch> unfortunetly I will have to spend all of the $ on a masseus
[14:44] <+werner> jbuch
[14:44] <+jbuch> thanks
[14:44] <+rickf> hehehe
[14:44] <+werner> alcohol:(
[14:44] <+PeterPanBoy> I mean 941.75 jun contract
[14:45] <+PeterPanBoy> Covered 1/3 ES Short @ 841.5 --> + 0.25 «« paper »»
[14:45] <+werner> Covered all NQ Short @ 1485.50 --> + 1.25
[14:45] <+PeterPanBoy> Covered 1/3 ES Short @ 841.5 --> + 0.25 «« paper »»
[14:46] <+codehead> codehead: if it breaks that, 942-942.25
[14:46] <+PeterPanBoy> Covered Remainder ES Short @ 841.75 --> 0 «« paper »»
[14:46] <+jbuch> alright my wife just plopped the kid down with a dirty diaper BRB
[14:46] <+codehead> short 2c ES 942.25 <paper>
[14:46] <+codehead> 943.0 touch i look for exit
[14:48] <+PeterPanBoy> Shorts ES @ 941.5 «« paper »»
[14:48] <+werner> dirty diaper??
[14:49] <+PeterPanBoy> Covered 1/3 ES Short @ 941.5 --> 0 «« paper »»
[14:49] <+codehead> exit half ES +1.00 <paper>
[14:49] <+PeterPanBoy> Covered 1/3 ES Short @ 941.25 --> + 0.25 «« paper »»
[14:50] <+PeterPanBoy> Covered 1/3 ES Short @ 941 --> + 0.5 «« paper »»
[14:50] <+PeterPanBoy> Covered 1/3 ES Short @ 941 --> + 0.5 «« paper »»
[14:51] <+codehead> exit remainder +2.00 <paper>
[14:52] <+PeterPanBoy> Covered 1/3 ES Short @ 940.25 --> + 1.25 «« paper »»
[14:53] <+PeterPanBoy> or continue down or I exit soon
[14:53] <+PeterPanBoy> Covered Remainder ES Short @ 940.75 --> + 0.75 «« paper »»
[14:55] <+codehead> 939.50 then 937.50 if we don't break out
[14:57] <+codehead> 942.0 is .500 of yesterday high to today low
[14:57] <+codehead> and 942.25 is a nice symmetry, so resistance there
[14:58] <@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.
[14:58] <+codehead> 944.50 would be next if b/o
[15:03] <+jbuch> [12:48:21] <+werner> dirty diaper?? ye
[15:04] <+jbuch> [12:48:21] <+werner> dirty diaper?? my depends was over flowing
[15:06] <+werner> sorry my englisch is not so wel:(
[15:06] <+PeterPanBoy> Shorts ES @ 941.5 «« paper »»
[15:07] <+PeterPanBoy> Covered 1/3 ES Short @ 941.5 --> 0 «« paper »»
[15:07] <+werner> but is think your kid is sick?
[15:07] <+PeterPanBoy> Covered 1/3 ES Short @ 941.75 --> - 0.25 «« paper »»
[15:07] <+jbuch> oh no worries thought u were making a joke
[15:08] <+werner> so all the best with it
[15:08] <+jbuch> if u smelled the poop that was in that diaper u might think so
[15:08] <+jbuch> but no she is fine thanks
[15:08] <+werner> ok
[15:08] <+jigglyhippo> lol
[15:09] <+jbuch> werner u made a comment about alchohol earlier
[15:09] <+werner> yes
[15:10] <+PeterPanBoy> Covered 1/3 ES Short @ 941.25 --> + 0.25 «« paper »»
[15:10] <+werner> lol
[15:10] <+PeterPanBoy> Covered 1/3 ES Short @ 941ù --> + 941.5 - 941ù «« paper »»
[15:10] <+werner> i am a man off worries
[15:11] <+werner> i have kids my self
[15:11] <+PeterPanBoy> Covered 1/3 ES Short @ 941.25 --> + 0.25 «« paper »»
[15:12] <+jbuch> yeah I remeber we were talking about them when u made ur ski trip
[15:12] <+PeterPanBoy> Covered 1/3 ES Short @ 941.5 --> 0 «« paper »»
[15:12] <+PeterPanBoy> Covered Remainder ES Short @ 941.5 --> 0 «« paper »»
[15:12] <+werner> nice that you rememder that
[15:13] <+werner> remember
[15:13] <+codehead> short 1c ES 942.00 <paper>
[15:13] <+codehead> exit +1.00 <paper>
[15:13] <ItalianSharp> whats up guys?
[15:14] <+ItalianSharp> very dull day, week
[15:14] <+codehead> 942.75 touch indicates 944.50 likely
[15:14] <+ItalianSharp> i am expecting a drop soon
[15:15] <+werner> yes its looks like that indd
[15:16] <+werner> res on the pre and post market lows
[15:16] <+werner> nq
[15:21] <+werner> Shorts NQ @ 1485.75
[15:24] <+werner> Covered all NQ Short @ 1484.25 --> + 1.5
[15:34] <+rickf> ok guys have a great weekend .... gonna punch out early
[15:35] <+rickf> tired of today's flatlining
[15:35] <+rickf> see ya next week
[15:35] <+PeterPanBoy> very flatty now
[15:35] <+PeterPanBoy> Shorts ES @ 939.25 «« paper »»
[15:36] <+PeterPanBoy> Covered 1/3 ES Short @ 938.75 --> + 0.5 «« paper »»
[15:36] <+PeterPanBoy> woh fast retrace
[15:36] <+PeterPanBoy> Covered 1/3 ES Short @ 939 --> + 0.25 «« paper »»
[15:37] <+TraderG> i can't leave this marke tfor a sec.
[15:37] <+TraderG> what happened?
[15:38] <+PeterPanBoy> Covered 1/3 ES Short @ 938.75 --> + 0.5 «« paper »»
[15:38] <+PeterPanBoy> Covered 1/3 ES Short @ 938.75 --> + 0.5 «« paper »»
[15:38] <+PeterPanBoy> Covered 1/3 ES Short @ 938.5 --> + 0.75 «« paper »»
[15:39] <+PeterPanBoy> I need to buy more monitors..
[15:39] <+PeterPanBoy> let see if break down..
[15:40] <+PeterPanBoy> Covered 1/3 ES Short @ 938.25 --> + 1 «« paper »»
[15:40] <+PeterPanBoy> only 1 remain
[15:42] <+PeterPanBoy> Covered Remainder ES Short @ 939 --> + 0.25 «« paper »»
[15:48] <+PeterPanBoy> of course after exit continue down
[15:49] <+PeterPanBoy> Long ES @ 937.75 «« paper »»
[15:49] <+PeterPanBoy> first long today for me
[15:50] <+PeterPanBoy> let see if pay off..
[15:50] <+PeterPanBoy> umh...
[15:50] <+PeterPanBoy> Exited 1/3 ES Long @ 938.25 --> + 0.5 «« paper »»
[15:51] <+PeterPanBoy> Exited 1/3 ES Long @ 938.5 --> + 0.75 «« paper »»
[15:51] <+PeterPanBoy> Exited 1/3 ES Long @ 939 --> + 1.25 «« paper »»
[15:51] <+PeterPanBoy> pay pay
[15:51] <+PeterPanBoy> Exited 1/3 ES Long @ 939.75 --> + 2 «« paper »»
[15:52] <+PeterPanBoy> Exited 1/3 ES Long @ 940 --> + 2.25 «« paper »»
[15:52] <+PeterPanBoy> Exited 1/3 ES Long @ 939.75 --> + 2 «« paper »»
[15:52] <+PeterPanBoy> Exited Remainder ES Long @ 939.75 --> + 2 «« paper »»
[16:00] <+jigglyhippo> 4pm
[16:00] <+jigglyhippo> ding ding ding
[16:02] <+jbuch> have a good weekend all
[16:02] <+jigglyhippo> you too, see you guys on monday
[16:02] <+PeterPanBoy> bye jbuch
[16:02] <+jbuch> cya PPB
[16:02] <+PeterPanBoy> cya jb
[16:03] <+PeterPanBoy> take care all see ya next week
[16:05] <+werner> gn all
[16:11] <@NihabaAshi> Have a good weekend everybody...no trading today for me due to website work, immigration appointment and personal time with the family outside at a local lake.
[16:13] <+OICU812> hope the lake was fun
[16:16] <@NihabaAshi> It was wet...rain all night and early in the morning.
[16:25] * NihabaAshi is now known as NihabaAshi_away

Go Back To TheStrategyLab.com Homepage