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 Post subject: July 31st Friday 2009
 Post Posted: Fri Jul 31, 2009 3:48 pm 
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Trader / Forum Admin

Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
Note: The chat log below represents the free chat room called #FuturesTrades . Also, any trader can use the chat room to post their trades. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action only trader (no indicators) because some members use indicators while others do not.

Therefore, we welcome all traders with their own methods and different perspective of the markets.

Also, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisments for guest visitors. More information about #FuturesTrades @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm

Further, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, 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 and they're not allowed to do such in #FuturesTrades.

By the way, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that #FuturesTrades is a serious professional trading chat room and we expect members to act professional.


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

Session Start: Fri Jul 31 09:01:57 2009
Session Ident: #futurestrades
[09:01] * Now talking in #futurestrades
[09:01] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:02] * Looking up JHL28 user info...
[09:02] <rickf> welcome back
[09:02] <pat255> gm all
[09:02] <+pat255> Hi wrbtrader
[09:02] <+pat255> @office today... :(
[09:03] <+pat255> hi rick
[09:03] <+rickf> hi pat, all
[09:13] * JHL28 is now known as JimL28
[09:17] <@NihabaAshi> Good morning all.
[09:18] <+pat255> how was vacation N?
[09:19] <+pat255> must be good summer temps..
[09:19] <@NihabaAshi> It was humid, hot but good
[09:20] <+pat255> well fall is just around the corner
[09:24] <JimL14> How can we tell when economic numbers are game changers and when they're not? Here are several things I look for: http://traderfeed.blogspot.com/2009/07/ ... mbers.html
[09:25] <+JimL14> http://traderfeed.blogspot.com/2009/07/ ... mbers.html
[09:28] <+pat255> ty jim
[09:29] <drt> gm all
[09:33] <JimL28> Long TF @ 556.2 «« simulator »»
[09:34] <+JimL28> 1
[09:35] <+rickf> ref economic numbers i would also add that the current number isn't as meaningful (to eme) as the revisions
[09:35] <+rickf> you can have "better" employment # this week but if they revise last week or month's down by a big percentage, are things really better? that's a more accurate trend picture imho
[09:36] <+rickf> short es 985.50
[09:39] <+JimL28> Exited TF Long @ 557.9 --> + 1.7 «« simulator »»
[09:39] <+JimL28> Reverse and Enter Short TF @ 557.9 «« simulator »»
[09:39] <+JimL28> 2
[09:40] <@NihabaAshi> Long ES @ 985.50 -> large size
[09:40] <@NihabaAshi> 6 only
[09:40] <@NihabaAshi> intuition
[09:41] <+JimL28> exit stop moved to breakeven TF @ 557.7 «« simulator »»
[09:41] <@NihabaAshi> trail @ BE
[09:42] <+JimL28> Trailing Stop Hit TF @ 557.7 --> + 0.2 «« simulator »»
[09:42] <trader8854> hey jim what the tick value on TF, $10?
[09:42] <@NihabaAshi> trail @ profit
[09:43] <+rickf> out 87 -1,5
[09:43] <@NihabaAshi> Exited ES Long @ 988.50 --> + 3
[09:43] <@NihabaAshi> Holding 1 contract remainder
[09:43] <+JimL14> ninja error msg, have to reboot-out for now
[09:46] <+rickf> long 6E 1.419
[09:46] <@NihabaAshi> Exited Remainder ES Long @ 989.00 --> + 3.5
[09:46] <jigglyhippo> nice trade wrbtrader
[09:46] <+jigglyhippo> welcome back
[09:46] <+pat255> vn
[09:47] <+rickf> out 1.4154 +5
[09:47] <@NihabaAshi> thanks :)
[09:47] <+rickf> sorry in at 1.4149 out 1.4154
[09:47] <+JimL14> can't answer his ? if he keeps leaving ;) anyway in case he returns $10/tick, 10 ticks/pt, $100/pt
[09:47] <+jigglyhippo> im here
[09:47] <@NihabaAshi> rickf...eurofx...brave man :)
[09:47] <+jigglyhippo> i was signed on as trader something
[09:47] <+rickf> lol thx wrbtrader
[09:47] <+jigglyhippo> thanks jim
[09:48] <+rickf> bakc in a bit, got some folks i'm meeting downstaris
[09:51] <+JimL14> 9:45am USD Chicago PMI 43.4 42.5 39.9 (now,est,prev)
[09:53] <+jigglyhippo> Long ES @ 986
[09:54] <+jigglyhippo> Exit 1/3 ES Long @ 987 --> + 1
[09:55] <+jigglyhippo> stop moved up
[09:59] <@NihabaAshi> Long ES @ 986.25 -> small size
[09:59] <@NihabaAshi> 1 only
[09:59] <@NihabaAshi> Exited ES Long @ 985.25 --> - 1
[09:59] <+jigglyhippo> stopped out
[10:00] <+jigglyhippo> Exited all ES Long @ 986 --> 0
[10:01] <@NihabaAshi> Downside pressure increasing
[10:02] <@NihabaAshi> That's a falling knife...becareful trying to catch it.
[10:02] <+pat255> y
[10:02] <+pat255> unti i see some green bars
[10:03] <+jigglyhippo> wow
[10:03] <@NihabaAshi> tight tight stops
[10:04] <@NihabaAshi> Long ES @ 981.00 -> small size
[10:04] <@NihabaAshi> 1 only
[10:05] <@NihabaAshi> trail @ profit
[10:05] <+pat255> L 81.5
[10:05] <@NihabaAshi> Exited ES Long @ 981.50 --> + 0.5
[10:05] <+JimL28> Shorts TF @ 557.1 «« simulator »»
[10:05] <+JimL28> 1
[10:06] <+pat255> out -1.5
[10:06] <+jigglyhippo> jim whats the symbol for it? TFU9?
[10:06] <@NihabaAshi> Shorts ES @ 979.75 -> small size
[10:06] <@NihabaAshi> 2 only
[10:06] <@NihabaAshi> tight trail again
[10:07] <+JimL28> exit stop lowered TF @ 555.9 «« simulator »»
[10:07] <@NihabaAshi> Covered all ES Short @ 980.75 --> - 1
[10:07] <+JimL28> Trailing Stop Hit TF @ 555.9 --> + 1.2 «« simulator »»
[10:08] <@NihabaAshi> volatility analysis - declining
[10:10] <@NihabaAshi> Long ES @ 983.00 -> small size
[10:10] <@NihabaAshi> 3 only
[10:12] <@NihabaAshi> Exited all ES Long @ 984.50 --> + 1.5
[10:12] <+JimL28> Shorts TF @ 557.8 «« simulator »»
[10:12] <+JimL28> 1
[10:14] <+JimL28> Covered TF Short @ 557.1 --> + 0.7 «« simulator »»
[10:14] <+JimL28> Reverse and Enter Long TF @ 557.1 «« simulator »»
[10:14] <+JimL28> exit stop moved to breakeven TF @ 557.2 «« simulator »»
[10:15] <+JimL28> Trailing Stop Hit TF @ 557.2 --> + 0.1 «« simulator »»
[10:17] <+JimL28> Shorts TF @ 557.6 «« simulator »»
[10:17] <+JimL28> 1
[10:18] <@NihabaAshi> Shorts ES @ 984.00 -> small size
[10:18] <@NihabaAshi> 1 only
[10:18] <@NihabaAshi> tight tight trail
[10:18] <@NihabaAshi> Covered ES Short @ 984.75 --> - 0.75
[10:18] <+JimL28> Covered all TF Short @ 557.5 --> + 0.1 «« simulator »»
[10:19] <@NihabaAshi> Shorts ES @ 984.25 -> small size
[10:19] <@NihabaAshi> 2 only
[10:19] <@NihabaAshi> tight tight trail
[10:20] * codehead_afk is now known as codehead
[10:20] <+JimL28> Long TF @ 557.1 «« simulator »»
[10:20] <+JimL28> 1
[10:21] <+JimL28> exit stop raised TF @ 557.2 «« simulator »»
[10:22] <@NihabaAshi> Covered all ES Short @ 984.00 --> + 0.25
[10:22] <+JimL28> Exited TF Long @ 557.6 --> + 0.5 «« simulator »»
[10:22] <+JimL28> Reverse and Enter Short TF @ 557.6 «« simulator »»
[10:22] <@NihabaAshi> too much of a fight
[10:22] <+JimL28> Covered all TF Short @ 558 --> - 0.4 «« simulator »»
[10:25] <+JimL14> agreed, got out of sync & caught up in flurry of a wedge where I should know not to take a stand, take a break now & regroup
[10:44] <@X> #FuturesTrades Info -> NihabaAshi is on vacation from Jul 25th Sat to Jul 30th Thurs.
[10:45] <@NihabaAshi> ooops...need to get ride of that message.
[10:45] <Nesi> hi all
[10:45] <+Nesi> welcome back..wrbtrader
[10:45] <@NihabaAshi> thanks
[10:45] <+pat255> hi nesi
[10:45] <+Nesi> hey pat ;)
[10:46] <codehead> short ES 987.75 <paper>
[10:46] <+codehead> stop 990.75, target 985.75
[10:46] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[10:46] <+Nesi> Endeavour landing now on CNN
[10:46] <+Nesi> pretty cool
[10:50] <+codehead> exit half ES +1.25 <paper>
[10:51] <+codehead> exit remainder +1.75 <paper>
[11:11] <+JimL28> Long TF @ 558.8 «« simulator »»
[11:12] <+JimL28> 1
[11:14] <+JimL28> exit stop raised TF @ 558.9 «« simulator »»
[11:15] <+JimL14> tf looking a little stronger here, but still need help from the other futures, very tight stop
[11:16] <+JimL28> exit stop raised TF @ 559 «« simulator »»
[11:17] <+JimL28> Trailing Stop Hit TF @ 559 --> + 0.2 «« simulator »»
[11:26] <+JimL28> Long TF @ 558.1 «« simulator »»
[11:26] <+JimL28> 1
[11:27] <+JimL28> exit stop raised TF @ 558.3 «« simulator »»
[11:27] <+JimL28> Exited all TF Long @ 558.8 --> + 0.7 «« simulator »»
[11:30] <+JimL14> oil & gold @ hi's, but emnis lagging, tough to leave profits exposed
[11:58] <+JimL28> Shorts TF @ 558.6 «« simulator »»
[11:58] <+JimL28> 1
[11:59] <+JimL28> exit stop moved to breakeven TF @ 558.4 «« simulator »»
[11:59] <+JimL28> Trailing Stop Hit TF @ 558.4 --> + 0.2 «« simulator »»
[12:00] <+JimL14> that's it for now, early lunch & projects - can't get this figured out
[12:09] <+rickf> back
[12:47] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[13:15] <@NihabaAshi> A tough range for trading since 1012am est
[13:21] <+codehead> triangle coming to a point
[13:23] <@NihabaAshi> Trading range has gotten tighter since Oil and Gold have stopped going higher and has been going sideways
[13:25] <+JimL14> wrbtrader, for intermarket support on emini moves do you run any correlations across a number of other derivatives to follow for signals & how often does the relationships change? I noted that you've been monitoring oil & gold lately.
[13:25] <+JimL14> What else do you recommend we monitor? Other futures or currencies?
[13:36] <@NihabaAshi> I've been following Oil, Gold, DAX, Treasuries, EuroFX or U.S. Dollar since the birth of the Eminis.
[13:36] <@NihabaAshi> I don't use those key markets for entry signals...
[13:37] <@NihabaAshi> Instead, I use them to help me understand the volatility, better trade management after entry and to be better prepare of any info in a key market that will have impact on the Eminis.
[13:38] <@NihabaAshi> The relationships doesn't change often.
[13:38] <@NihabaAshi> It's fairly consistent...
[13:39] <@NihabaAshi> For example, Eminis likes to make their biggest movements when other key markets are doing the same.
[13:39] <@NihabaAshi> I call this the "in sync rule".
[13:39] <@NihabaAshi> Yet, when other key markets seem to be doing something different in comparison to each other...
[13:40] <luffy> hey wrbtrader welcome back.. what do u recommand we monitor.. gold oil anything else?
[13:40] <@NihabaAshi> Eminis will chop like crazy with or without volatility.
[13:40] <@NihabaAshi> Gold and Oil Index is a great place to start.
[13:40] <+luffy> ok i will put them up
[13:40] <+luffy> what tickers do u use?
[13:40] <+luffy> gld?
[13:40] <+luffy> oil?
[13:40] <+JimL14> I understand your points, so cl, gc, fdax, zb or zn?, 6e or eur/usd?
[13:41] <@NihabaAshi> Their all good...
[13:41] <@NihabaAshi> I prefer 6e over EurUsd only because if I wanted to trade something different...it'll most likely be 6e instead of EurUsd
[13:42] <@NihabaAshi> However, if I was already trading Forex currencies...obvious choice to follow would be EurUsd
[13:43] <+luffy> whats zb or zn?
[13:43] <+luffy> wrbtrader would gld and oil etfs be good enough.. idont get gc and cl feed on TS
[13:44] <+luffy> how do u get all that data for ts?
[13:46] <+JimL28> Long TF @ 559.7 «« simulator »»
[13:46] <+JimL28> 1
[13:46] <+rickf> the etfs are ok to trade but you dont get the same leverage
[13:46] <@NihabaAshi> [13:44] <+luffy> how do u get all that data for ts?
[13:46] <@NihabaAshi> whats ts ?
[13:46] <+luffy> i'm just using the data to watch how they move
[13:46] <+luffy> tradestation
[13:47] <+luffy> i think wrbtrader is saying monitor the other mkts not trade them
[13:47] <@NihabaAshi> I don't use tradestation
[13:47] <+luffy> so i'm thinking looking at gld should be the same as gc
[13:47] <+luffy> ok thats ok wrbtrader i'll figure it out
[13:47] <@NihabaAshi> Yes...just monitor the other markets to help you trade the Eminis
[13:47] <+luffy> i have a buddy who trades like u
[13:47] <+luffy> watches correleated mrkts
[13:47] <+luffy> and trades silver
[13:47] <+luffy> did really well
[13:47] <+luffy> until he had a blowup this year
[13:47] <+luffy> bad mm
[13:47] <@NihabaAshi> I use two data vendors (Qcharts and Futuresource)
[13:48] <+luffy> but he's got the skill down
[13:49] <+luffy> so wrbtrader, sorry to repeat again, would be good enogh to start monitoring gold and oil etfs instead of the actual futures
[13:49] <+luffy> to get the feel how es may move
[13:49] <+rickf> fwiw i think u want to watch the futures first
[13:49] <@NihabaAshi> Yes...index or etfs of Gold and Oil is good enough to help with trading the Eminis
[13:50] <+rickf> oh nm...got confused there in what u were asking
[13:50] <+luffy> cool thnx guys
[13:50] <+luffy> how u guys do today?
[13:50] <+luffy> i'm down 1 tick nq
[13:51] <+JimL14> so far nq hasn't pushed & we didn't get the breakout push we needed, trying to finesse this tf i have long (i don't usually have breakouts in my plan, but got bored)
[13:51] <+rickf> 1 losing es trade 1 winning eurofx trade, ahead a few bucks, nothing to write home about
[13:52] <+luffy> i'm looking to short 990s es or 1618s nq
[13:54] <+JimL28> Exited all TF Long @ 559.5 --> - 0.2 «« simulator »»
[13:59] <+JimL14> at this pattern, I'll look to buy pullback after everything breaksout, or sell another lower high & the next cycle dwn/up
[14:02] <@NihabaAshi> luffy...I'm up +20.25 ES points.
[14:02] <@NihabaAshi> Trading small size for the remainder of the trading day to protect profits.
[14:03] <@NihabaAshi> Long ES @ 987.25 -> small size
[14:03] <@NihabaAshi> 2 only
[14:05] <+jigglyhippo> great day wrbtrader
[14:07] <@NihabaAshi> Exited all ES Long @ 986.75 --> - 0.5
[14:09] <+luffy> gold and oil look so similar
[14:09] <+luffy> wrbtrader nice!
[14:09] <+luffy> +20pts!!!
[14:09] <+luffy> 1000 bucks!!!
[14:09] <+jigglyhippo> lol
[14:10] <+luffy> :)
[14:10] <+jigglyhippo> we need to have those more often luffy
[14:10] <+luffy> yea
[14:10] <+jigglyhippo> one day
[14:10] <+luffy> i didn't catch the morning rally
[14:10] <+luffy> actallylost a bit chasing
[14:10] <+luffy> then made it back on the down move
[14:10] <@NihabaAshi> Long ES @ 987.00 -> small size
[14:10] <@NihabaAshi> 2 only
[14:10] <+luffy> but its really hard to excute when markets moving soo fast
[14:11] <+luffy> nice one
[14:11] <@NihabaAshi> trail @ profit
[14:13] <@NihabaAshi> Exited all ES Long @ 989..00 --> + 989..00 - 987.00
[14:14] <@NihabaAshi> Exited all ES Long @ 989.00 --> + 2
[14:14] <+luffy> nice
[14:14] <+luffy> +1200for wrbtrader :)
[14:21] <+JimL28> Long TF @ 560.7 «« simulator »»
[14:21] <+JimL28> 2
[14:23] <+JimL28> Exited TF Long @ 560.5 --> - 0.2 «« simulator »»
[14:23] <+JimL28> Reverse and Enter Short TF @ 560.5 «« simulator »»
[14:25] <+JimL28> Covered all TF Short @ 560.4 --> + 0.1 «« simulator »»
[14:28] <+codehead> oil squeezing shorts into close
[14:28] <+codehead> wow
[14:29] <+JimL14> just plugging along upward
[14:29] <+codehead> USO up 2.5 from pre-mkt low
[14:38] <@NihabaAshi> Shorts ES @ 986.25 -> small size
[14:38] <@NihabaAshi> 1 only
[14:50] <+JimL28> Shorts TF @ 559.4 «« simulator »»
[14:50] <+JimL28> 2
[14:53] <+JimL28> Covered all TF Short @ 559.3 --> + 0.1 «« simulator »»
[14:53] <@X> #FuturesTrades Info -> Archived trade posting chat logs have a new location. They are now stored @ viewforum.php?f=20
[15:05] <+JimL14> friday afternoon follies
[15:06] <+JimL28> Shorts TF @ 559.5 «« simulator »»
[15:07] <+JimL28> 1
[15:08] <+JimL28> Covered all TF Short @ 559.2 --> + 0.3 «« simulator »»
[15:17] <+drt> l es 86.25
[15:19] <+JimL28> Long TF @ 559 «« simulator »»
[15:19] <+JimL28> 2
[15:20] <+JimL28> exit stop raised TF @ 559.2 «« simulator »»
[15:22] <+JimL28> Exited 1/2 TF Long @ 559.8 --> + 0.8 «« simulator »»
[15:23] <+drt> cl es 88.50
[15:28] <+JimL28> Exited Remainder TF Long @ 561 --> + 2 «« simulator »»
[15:31] <+rickf> short es 988.50
[15:32] <+JimL28> Shorts TF @ 560.1 «« simulator »»
[15:32] <+JimL28> 1
[15:33] <+JimL28> exit stop lowered TF @ 559.8 «« simulator »»
[15:34] <+JimL28> Trailing Stop Hit TF @ 559.8 --> + 0.3 «« simulator »»
[15:35] <+rickf> out 988 +.50
[15:41] * +rickf figures
[15:46] <+JimL28> Shorts TF @ 557.2 «« simulator »»
[15:46] <+JimL28> 2
[15:49] <+JimL14> last attempt (trying to catch low % brkdwn) after I gave up on 2 higher dwn reversals, friday pm nonsense
[15:50] <+JimL28> exit stop lowered TF @ 558.9 «« simulator »»
[15:51] <+JimL28> Covered 1/2 TF Short @ 556 --> + 1.2 «« simulator »»
[15:52] <+JimL14> nq dragged all day going for daily low
[15:54] <+JimL28> exit stop lowered TF @ 556.4 «« simulator »»
[15:54] <+JimL28> Trailing Stop Hit TF @ 556.4 --> + 0.8 «« simulator »»
[15:55] <+JimL14> done. have a good w/e everyone, I'll go do something productive
[15:58] <+rickf> yah me too
[15:58] <+rickf> see y/all next week
[16:04] * codehead is now known as codehead_afk
[16:17] <@NihabaAshi> Not a lot of volatility after 1015am est which meant you really had to cherry pick your trades after 1015am est to prevent over trading.
[16:27] <@NihabaAshi> By the way, in case others in here have notice...
[16:27] <@NihabaAshi> The room activity recently dropped.
[16:27] <@NihabaAshi> That happens EVERY YEAR when I go on vacation and I have never been able to understand the correlation.
[16:28] <@NihabaAshi> Also, two other regular members are on vacation themselves.
[16:29] <@NihabaAshi> Another taking a time out from the markets after a recent drawdown period.
[16:29] <@NihabaAshi> Take care all and see all on Monday
[16:30] * NihabaAshi is now known as NihabaAshi_away

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